强力新材(300429) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 1,038,704,786.72, representing a 33.77% increase compared to CNY 776,472,530.78 in 2020[26]. - The net profit attributable to shareholders for 2021 was CNY 114,848,305.80, up 23.66% from CNY 92,871,489.25 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was CNY 100,013,266.09, reflecting a 31.82% increase from CNY 75,869,971.67 in 2020[26]. - The total assets at the end of 2021 were CNY 3,516,014,159.79, a 16.53% increase from CNY 3,017,339,359.14 at the end of 2020[26]. - The net assets attributable to shareholders increased by 4.88% to CNY 2,027,434,224.09 from CNY 1,933,060,852.83 in 2020[26]. - The basic earnings per share for 2021 were CNY 0.2229, up 23.70% from CNY 0.1802 in 2020[26]. - The diluted earnings per share increased by 31.14% to CNY 0.2367 from CNY 0.1805 in the previous year[26]. - The weighted average return on equity for 2021 was 5.80%, compared to 5.46% in 2020[26]. - The total revenue for the year 2021 was 174.748 million, with a net profit of 10.346 million, representing a year-on-year increase of 164.402 million[144]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% year-over-year growth[153]. Cash Flow and Dividends - The net cash flow from operating activities decreased by 50.12% to CNY 104,632,785.86 from CNY 209,769,097.73 in 2020[26]. - The company reported a significant decrease in cash flow from operating activities in the third quarter, with a negative cash flow of CNY -8,383,182.94[29]. - The company distributed a cash dividend of RMB 0.4 per 10 shares, totaling RMB 20,610,135.52 for the 2020 fiscal year[178]. - For the 2021 fiscal year, the company plans to distribute a cash dividend of RMB 0.45 per 10 shares, totaling RMB 23,186,733.12, based on a total share capital of 515,260,736 shares[183]. - The total cash dividend for 2021 represents 100% of the distributable profit, which amounts to RMB 172,389,779.42[180]. Research and Development - The company emphasizes the need for increased R&D investment to keep pace with technological advancements in downstream industries like PCB and LCD manufacturing[7]. - The company must navigate uncertainties in R&D outcomes, which could affect its competitive advantage and financial performance[7]. - The company's R&D expenses rose to ¥90,581,673.70, marking a 41.52% increase due to higher personnel costs and increased direct investment[77]. - Research and development (R&D) investment reached CNY 90,581,673.70 in 2021, accounting for 8.72% of operating revenue, up from 8.24% in 2020[98]. - The number of R&D personnel increased by 15.54% to 223 in 2021, with a notable rise in younger employees under 30 years old by 50%[98]. - The company has established a strong R&D team, focusing on continuous innovation and product development to meet industry trends[76]. - The company emphasizes R&D, with a focus on market demand analysis and feasibility studies before project initiation, ensuring a high conversion rate of R&D outcomes[61]. Market and Industry Trends - The electronic chemical industry is experiencing increased competition due to expanded capacity from existing market participants and new entrants, which may impact profitability if the company fails to innovate and manage costs effectively[5]. - The electronic chemical industry is supported by national policies, presenting growth opportunities amid rising market demand[5]. - The company focuses on the development of electronic chemicals for photoresists, which are critical materials in micro-manufacturing processes[37]. - The company is positioned in the fine chemical industry, specifically in the niche of photoresist specialty electronic chemicals, which are essential for PCB and semiconductor manufacturing[37]. - The company has seen a continuous increase in demand for photoresist materials due to rapid advancements in technology and the electronic information industry[41]. - The demand for PCB is expected to continue growing due to the increasing prevalence of electronic products and new growth drivers such as 5G and cloud computing[123]. - The company aims to strengthen its market position in the high-density and multi-layer PCB segments, which will drive the continuous growth of photoresist usage[123]. Environmental Compliance - Environmental regulations are tightening, and failure to meet new standards could result in penalties that adversely affect production and profitability[8]. - The company reported a total wastewater discharge of 4.306 mg/l for chemical oxygen demand (CODcr), exceeding the standard limit of 137.4 mg/l[194]. - The non-methane total hydrocarbon emissions were recorded at 4.38 mg/m3, which is compliant with the environmental standards[195]. - The company achieved a reduction in ammonia nitrogen discharge to 0.131 mg/l, well below the regulatory threshold[194]. - The company has implemented new wastewater treatment processes that resulted in a reduction of suspended solids to 37 mg/l[197]. - The company is focusing on expanding its market presence through new product development and technological advancements[196]. - The company aims to enhance its environmental compliance by improving waste management strategies and reducing emissions[197]. Acquisitions and Subsidiaries - The company acquired 65.51% of Changsha Xinyu Polymer Technology Co., Ltd. for approximately ¥155.39 million, making it a wholly-owned subsidiary[90]. - The acquisition of subsidiaries is expected to positively impact the company's overall production and performance[122]. - The company plans to complete the management system integration for Changsha Xinyu within six months following the acquisition[187]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations from its controlling shareholder[133]. - The board of directors consists of 7 members, including 4 independent directors, ensuring compliance with legal requirements[134]. - The company has established a comprehensive performance evaluation and incentive mechanism for senior management, linking their performance directly to compensation[135]. - The company ensures strict compliance with legal regulations for information disclosure, providing accurate and timely information to investors through multiple channels[136]. - The company maintains independence from its controlling shareholders in business, personnel, assets, organization, and finance, ensuring autonomous operational capabilities[137]. Employee Management - The total number of employees at the end of the reporting period was 1,198, with 193 in the parent company and 1,005 in major subsidiaries[172]. - The company has set a total of 78,119.9 hours for outsourced labor, with total payments amounting to CNY 1,420,447[177]. - The company aims to maintain a competitive salary level above the industry average to attract and retain top talent[173]. - The company has established an annual performance-based incentive system to reward outstanding employees based on company performance[175]. - The training plan includes safety training for new employees, professional skills training for existing staff, and management training for middle and lower-level managers[176]. Future Outlook - The company plans to expand its market presence and is focusing on new product development and technological advancements to drive future growth[145]. - The company aims to achieve a revenue growth target of 15% for the upcoming fiscal year, driven by increased demand for its electronic materials[147]. - Future guidance indicates expected revenue growth of 12-15% for the next fiscal year, driven by increased demand in the electronics sector[195].