飞凯材料(300398) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥2,627,104,370.59, representing a 40.94% increase compared to ¥1,864,010,456.29 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥385,866,139.20, a 67.89% increase from ¥229,832,851.68 in 2020[34]. - The net profit after deducting non-recurring gains and losses was ¥320,572,598.15, up 76.47% from ¥181,656,291.88 in 2020[34]. - The net cash flow from operating activities was ¥255,121,598.47, an increase of 49.33% compared to ¥170,838,697.34 in 2020[34]. - Basic earnings per share for 2021 were ¥0.75, a 66.67% increase from ¥0.45 in 2020[34]. - Total assets at the end of 2021 were ¥5,861,104,692.09, a 5.81% increase from ¥5,539,431,903.13 at the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥3,163,736,172.42, an 11.19% increase from ¥2,845,252,424.57 at the end of 2020[34]. - The weighted average return on equity for 2021 was 12.93%, up from 9.03% in 2020[34]. Market Expansion and Product Development - The company is actively expanding its product offerings in the fields of display materials, semiconductor materials, and UV curing materials, with new products aimed at applications in printed circuit boards, integrated circuits, and automotive sectors[9]. - The company plans to continue expanding its market presence and invest in new product development[34]. - The company is positioned to benefit from the rapid growth of the LCD panel industry, which is becoming the largest production and consumption market globally[46]. - The company is actively expanding its project construction, including a 10,000t/a UV curing fiber coating material expansion project and a 120-ton TFT-LCD mixed liquid crystal display material project[80]. - The company aims to enhance its market position in OLED display materials, anticipating rapid growth in demand driven by industry trends[146]. - The company is focused on expanding its production capacity for pharmaceutical intermediates and specialty fine chemicals to meet growing market demand[158]. Research and Development - The company’s R&D expenditure reached 192.74 million yuan, a 41.31% increase year-on-year, accounting for 7.34% of total revenue[77]. - The company has established a comprehensive R&D innovation mechanism for new materials, positioning itself as a leading R&D base in China for new materials[90]. - The company has developed key technologies in screen display materials, semiconductor materials, and low oligomer resin synthesis, enabling it to break foreign monopolies and establish long-term strategic partnerships with major manufacturers[91][92][93]. - The number of R&D personnel increased by 14.60% to 518 in 2021, accounting for 26.40% of the total workforce[121]. - The company plans to increase R&D investment to enhance the conversion rate of R&D results and develop high-quality new materials for high-tech manufacturing[155]. Risks and Challenges - The company faces risks related to rapid expansion, including the need for improved management systems and internal controls to effectively utilize scale advantages and maintain operational efficiency[12]. - The company is exposed to risks from intensified competition in the screen display materials and semiconductor materials sectors, necessitating continuous technological innovation and operational improvements[8]. - The company acknowledges the potential risks associated with mergers and acquisitions, including the possibility of unsuccessful integrations and failure to achieve synergies[16]. - The company is investing in fixed asset projects, which will significantly increase depreciation expenses, posing a risk of profit decline if capacity is not effectively converted into revenue[15]. Corporate Governance and Social Responsibility - The company maintains an independent governance structure, with its board of directors and supervisory board operating independently from its controlling shareholder[171]. - The company actively fulfills its corporate social responsibility, ensuring the coordination of interests among shareholders, employees, and society to promote sustainable and healthy development[175]. - The company adheres to information disclosure obligations, ensuring that all disclosures are true, accurate, complete, timely, and easy to understand, with no violations of corporate governance norms during the reporting period[176]. Investment and Financial Management - The company reported a net fundraising amount of ¥808,957,470.71 from the issuance of 8.25 million convertible bonds, after deducting related fees[139]. - The company has committed a total investment of ¥82,500 million for various projects, with a cumulative investment of ¥28,807.16 million as of the reporting period, achieving an investment progress of 34.9%[146]. - The company has signed tripartite supervision agreements with several banks to ensure the proper management and usage of raised funds[141]. - The company has not encountered any issues regarding the use and disclosure of raised funds during the reporting period[149]. Customer Relations and Sales Strategy - The company emphasizes a customer-centric service model, achieving high customer satisfaction and maintaining a robust customer service system[76]. - The company has established customer service points across multiple cities to meet personalized customer needs and ensure rapid response to technical requirements[101]. - The company maintains a direct sales model complemented by agency sales, focusing on key clients in various application fields[76].