润禾材料(300727) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,103,753,228.57, representing a 55.12% increase compared to ¥711,526,005.02 in 2020[17]. - The net profit attributable to shareholders for 2021 was ¥93,029,006.82, a 71.71% increase from ¥54,179,522.17 in 2020[17]. - The net cash flow from operating activities reached ¥131,807,030.98, marking a significant increase of 171.25% from ¥48,591,857.85 in 2020[17]. - The basic earnings per share for 2021 was ¥0.73, up 69.77% from ¥0.43 in 2020[17]. - Total assets at the end of 2021 amounted to ¥1,190,206,022.10, a 27.00% increase from ¥937,151,189.48 at the end of 2020[17]. - The company's net assets attributable to shareholders increased by 13.26% to ¥677,581,274.29 at the end of 2021 from ¥598,258,023.64 at the end of 2020[17]. - The company reported a quarterly revenue of ¥301,831,076.77 in Q4 2021, contributing to a total annual revenue growth[19]. - The company received government subsidies amounting to ¥6,834,737.26 in 2021, compared to ¥2,233,247.55 in 2020[22]. - The weighted average return on equity for 2021 was 14.64%, an increase of 5.22% from 9.42% in 2020[17]. - The company reported a significant increase in the average price of DMC from 21.36 RMB/kg in the first half to 31.61 RMB/kg in the second half, representing a substantial rise[54]. - The average price of MM also saw a notable increase from 26.72 RMB/kg in the first half to 46.38 RMB/kg in the second half, indicating a strong upward trend in raw material costs[54]. Dividend Policy - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares to all shareholders, based on a total of 126,880,000 shares[4]. - The cash dividend distribution plan for 2021 proposes a cash dividend of RMB 1.50 per 10 shares, totaling RMB 19,032,000, which represents 20.46% of the net profit attributable to shareholders[178][181]. - The company has a cash dividend policy that ensures at least 20% of the distributable profit is allocated for cash dividends during its growth phase with significant capital expenditure plans[179][181]. Corporate Governance - The report highlights the company's commitment to ensuring the accuracy and completeness of financial reports, with key personnel affirming their responsibility[3]. - The company has a comprehensive governance structure, including a board of directors and supervisory board, ensuring accountability and transparency[4]. - The company emphasizes the importance of corporate governance, having held 5 shareholder meetings and 9 board meetings during the reporting period, ensuring compliance with legal requirements[134][135]. - The company has established a performance evaluation and incentive mechanism for senior management to ensure transparency and compliance with regulations[136]. - The company maintains a commitment to information disclosure, ensuring that all shareholders have fair access to information through designated media[136]. - The company has established a robust corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, all operating independently from the controlling shareholder[140]. Research and Development - The company has obtained 30 invention patents and has 18 invention patents under review, showcasing its strong R&D capabilities[59]. - The company is classified as a national high-tech enterprise, reflecting its commitment to innovation and technology in the silicone industry[37]. - The company has established a provincial-level post-doctoral research workstation to enhance its R&D capabilities[59]. - The company is committed to continuous research and development, improving product performance and expanding its product offerings in response to market demands[51]. - The total R&D investment in 2021 was CNY 37,098,553.15, accounting for 3.36% of operating revenue, a slight decrease from 3.59% in 2020[89]. - The number of R&D personnel increased by 11.54% from 78 in 2020 to 87 in 2021, indicating a commitment to enhancing research capabilities[88]. Market Position and Strategy - The company operates in the organic silicon industry, which is essential for various high-tech applications, indicating potential for future growth[26]. - The company aims to enhance its market share in the silicone segment by strengthening R&D and expanding its product offerings, leveraging capital market resources to improve profitability[36]. - The company has established a strong market position in the organic silicon sector, recognized as a leading supplier of specialty silicone oils, silicone rubber, and silicone resins[51]. - The company is actively involved in the development of eco-friendly and high-performance textile additives, aligning with national strategic emerging industry goals[36]. - The company aims to become a leader in the silicone niche market by enhancing product value and expanding its product range[36]. - The company is focusing on innovative product development to enhance performance in automotive and aerospace industries, indicating a strategic direction towards advanced materials[42]. - The company plans to enhance resource optimization and reduce production costs in response to market trends and environmental changes[100]. Risk Management - The company emphasizes the importance of risk awareness regarding macroeconomic changes, market competition, raw material price fluctuations, and exchange rate risks[4]. - The company's future plans and strategies are subject to market risks and uncertainties, which investors should consider[4]. - The company is closely monitoring macroeconomic and market changes to mitigate risks associated with fluctuations in the organic silicon sector, aiming to minimize adverse impacts on operations[125][126]. - The company is enhancing its monitoring and analysis of raw material prices to mitigate risks from price volatility, including strategic reserves and flexible procurement adjustments[128]. - The company is implementing measures to manage foreign exchange risks due to its expanding overseas sales, including forward foreign exchange transactions and adjusting settlement currencies[129]. Social Responsibility - The company has a strong focus on social responsibility, balancing economic, environmental, and social factors in its operations[192]. - The company donated a total of 126,000 yuan for educational funds during the reporting period[197]. - The company contributed 220,000 yuan to charitable funds in the reporting period[197]. - The company actively participated in social welfare activities, including organizing blood donation events[197]. - The company implemented strict pandemic prevention measures during local outbreaks to ensure employee safety and maintain production stability[198]. Employee Management - The total number of employees at the end of the reporting period was 476, with 218 in production, 82 in sales, 87 in technology, 24 in finance, and 65 in administration[173]. - The company has established a training system that includes regular onboarding and safety training for new employees, as well as various skill enhancement training for existing staff[175][176]. - The management team, including the general manager and financial officer, is dedicated solely to the company, with no dual roles in the controlling shareholder's enterprises[139]. - The company has established a performance-based remuneration system linking pay to work performance and operational results[160]. Production and Operations - The company has a registered address in Ningbo, Zhejiang Province, with a focus on high-tech materials[14]. - The company operates several wholly-owned subsidiaries, including Zhejiang Runhe Organic Silicon New Materials Co., Ltd. and Hangzhou Runhe Chemical New Materials Co., Ltd.[12]. - The company has established a strong market position in the organic silicon sector, recognized as a leading supplier of specialty silicone oils, silicone rubber, and silicone resins[51]. - The company has implemented a centralized procurement model for key raw materials, ensuring cost control and supply chain stability[48]. - The company has a complete set of production systems and legally owns essential assets such as land, factories, and equipment, ensuring no asset occupation by the controlling shareholder[140].