世名科技(300522) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 670,124,481.41, representing a 47.43% increase compared to CNY 454,523,891.19 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 93,469,353.79, a slight increase of 0.80% from CNY 92,730,018.39 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 95,315,208.35, which is a 6.62% increase from CNY 89,394,089.31 in 2020[17]. - The net cash flow from operating activities increased by 84.78% to CNY 159,855,433.65, up from CNY 86,510,777.82 in 2020[17]. - The total assets at the end of 2021 were CNY 932,596,810.46, reflecting a 4.37% increase from CNY 893,524,415.87 at the end of 2020[17]. - The net assets attributable to shareholders increased by 9.89% to CNY 796,717,875.99, compared to CNY 725,010,095.52 at the end of 2020[17]. - The basic earnings per share for 2021 were CNY 0.3476, a decrease of 0.29% from CNY 0.3486 in 2020[17]. - The diluted earnings per share for 2021 were CNY 0.3453, an increase of 0.94% from CNY 0.3421 in 2020[17]. - The weighted average return on equity was 12.38%, down from 13.64% in the previous year[17]. Revenue Breakdown - In 2021, the company's total revenue for the four quarters was approximately ¥690 million, with the highest revenue in Q2 at ¥183.89 million, and a decline in Q4 to ¥161.37 million[20]. - The revenue from the coatings segment was CNY 545,202,180.38, accounting for 81.36% of total revenue, with a year-on-year increase of 50.51%[75]. - The revenue from specialty additives increased by 158.57% to CNY 149,353,471.36, while the revenue from resins surged by 841.96% to CNY 868,294.20[75]. - The sales revenue of coloring agents increased by 31.07% compared to the previous year, reflecting effective market strategies and product development[63]. Research and Development - The company increased its R&D expenses by 54.96% in 2021, reflecting a strong commitment to innovation and product development[38]. - The company has a strong R&D capability with over 20 patents related to color paste formulation and production technology[51]. - The company has established multiple provincial-level research platforms to enhance its R&D strength[51]. - The company is focusing on the development of liquid dyeing technology and has established a comprehensive layout in the field of fiber liquid dyeing[35]. - The establishment of a technology innovation center recognized by the China National Textile Industry Association aims to develop functional nano materials for fiber production, addressing domestic production challenges[67]. Market Trends and Opportunities - The disposable glove market is projected to grow at a compound annual growth rate (CAGR) of 15.9%, with global sales expected to increase from 5.29 billion units in 2019 to 12.85 billion units by 2025[30]. - The domestic coatings industry is expected to grow to a total output value of approximately ¥370 billion by 2025, indicating a stable growth trend for the company's products[29]. - The company is positioned to benefit from the growing demand for green fibers, with an expected annual growth rate of over 10% in biodegradable materials and green fibers during the 14th Five-Year Plan[32]. Production and Capacity - The production capacity for colorants (color paste) is 44,040 tons/year, with a utilization rate of 78.33%[52]. - The company plans to increase production capacity for high-frequency copper-clad laminate resin and special additives by 10,000 tons/year[52]. - The "Fiber Plastic New Material Production Project" has completed the main construction and passed fire safety inspections, with 12,000 tons of masterbatch production equipment installed and currently in the debugging phase[42]. Corporate Governance - The company has established an effective internal control system, with no major defects identified in financial reporting as of the evaluation report date[198]. - The company has maintained independence from its controlling shareholders, ensuring no interference in its operational decisions[140]. - The company emphasizes information disclosure and transparency, ensuring compliance with relevant laws and regulations, and has designated a board secretary to manage investor relations[143]. - The company has a governance structure that complies with legal regulations, with no significant discrepancies noted[144]. Employee and Management - The total number of employees at the end of the reporting period was 427, including 205 from the parent company and 222 from major subsidiaries[180]. - The company has a competitive salary policy, providing various benefits including social insurance, housing fund, holiday benefits, and annual health check-ups[181]. - The management performance evaluation mechanism links executive compensation directly to their performance, ensuring accountability and motivation[196]. Future Outlook - Future outlook includes plans for market expansion and the introduction of new products, aiming for a revenue growth target of 20% in 2022[158]. - The company plans to maintain a high level of R&D investment, aiming to develop differentiated products based on market trends and customer needs[123]. - The company aims to enhance its core competitiveness by focusing on technological innovation and industry upgrades, targeting to become a global leader in color new materials[120].