BSM(SZ:300796)2022-04-27 16:00Financial Performance - The company's operating revenue for 2021 was ¥530,016,289.44, representing a 31.02% increase compared to ¥404,543,473.59 in 2020 [21]. - The net profit attributable to shareholders for 2021 was ¥56,393,722.60, a 46.81% increase from ¥38,411,515.91 in 2020 [21]. - The net profit after deducting non-recurring gains and losses was ¥57,684,802.87, up 66.07% from ¥34,734,808.17 in 2020 [21]. - The company's total assets at the end of 2021 were ¥1,398,208,062.65, a 7.04% increase from ¥1,306,233,986.18 at the end of 2020 [21]. - The basic earnings per share for 2021 was ¥0.47, a 46.88% increase compared to ¥0.32 in 2020 [21]. - The weighted average return on equity for 2021 was 5.40%, up from 3.77% in 2020 [21]. - The company reported a net cash flow from operating activities of ¥95,647,029.55, an 8.60% increase from ¥88,069,790.25 in 2020 [21]. - The total operating revenue for 2021 reached ¥530,016,289.44, representing a year-on-year increase of 31.02% compared to ¥404,543,473.59 in 2020 [78]. - The revenue from the main product, dimethyl sulfoxide raw material, accounted for ¥399,083,653.19, which is 75.30% of total revenue, showing a significant growth of 64.33% year-on-year [78]. - The gross profit margin for the main product category, including dimethyl sulfoxide raw material, improved to 30.55%, up from 27.39% in the previous year, reflecting a 3.16% increase [81]. - The company's overseas revenue constituted ¥283,990,257.00, which is 53.58% of total revenue, with a year-on-year growth of 29.24% [78]. - The production volume of dimethyl sulfoxide raw material increased by 47.36% year-on-year, reaching 9,662.38 tons, driven by strong market demand [85]. - The company reported a total revenue of 383.5 million in 2021, maintaining a stable financial performance compared to previous years [164]. Risk Factors - The company faced risks including market growth below expectations, high customer concentration, and fluctuations in tax incentives and exchange rates [6]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and future plans [6]. - The company has a high concentration of customers, which poses a risk to its operations [6]. - The company is facing potential risks from market growth not meeting expectations due to global economic adjustments affecting agricultural production expansion [142]. - The company is classified as a national high-tech enterprise, benefiting from a 15% corporate income tax rate, but faces risks if it fails to renew this status or if tax policies change [147]. Research and Development - The company emphasizes technological R&D, achieving production standards that meet or exceed those of developed countries, thus enhancing its competitiveness [42]. - The company has successfully developed low-cost synthesis processes for new high-quality pesticides, including Methoxyfenozide and Fluazifop-P-butyl, leveraging by-products from Dimethenamid-P [41]. - The company is currently developing new products, including Methoxyfenozide and Benzoylpropionic acid, to strengthen its future growth [65]. - The company has established partnerships with universities and research institutions, enhancing its R&D capabilities and innovation [65]. - The company has a total of 44 patents granted, reflecting its strong focus on technology research and development [65]. - The company plans to continue increasing R&D investment to enhance core competitiveness and mitigate the impact of potential changes in tax incentives [148]. Market Position and Strategy - The company is a leading enterprise in the niche field of Dimethenamid-P, possessing a complete production and R&D system across the entire industry chain [41]. - The company is positioned to become a qualified strategic supplier for multinational pesticide companies due to its cost advantages and comprehensive R&D capabilities [42]. - The company is actively exploring new markets and customers abroad, enhancing its international presence [54]. - The company aims to consolidate its leading position in the industry for its core products, particularly the herbicide Dimethenamid-P, through continuous process optimization and quality enhancement [139]. - The company plans to expand its product line by actively promoting the construction of green new material projects related to the Ketone series, enhancing its competitive advantage and market share [139]. - The company is focused on increasing its independent R&D capabilities to achieve a tiered product layout and promote the industrialization of new products such as Methoxyfenozide and Fluobenzamide [139]. Corporate Governance - The company has enhanced its corporate governance and transparency, improving communication with investors through various platforms [79]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance regulations [153]. - The company maintains independence from its controlling shareholder, ensuring that business operations are conducted autonomously [154]. - The company adheres to strict information disclosure practices, ensuring timely and fair access to information for all shareholders [156]. - The company has established a sound corporate governance structure with independent decision-making and supervisory bodies [159]. - The company has a clear governance structure with no mixed operations or shared offices with controlling shareholders [159]. Environmental and Social Responsibility - The company emphasizes safety production and has upgraded its environmental protection facilities to reduce pollutant emissions and energy consumption [75]. - The company is responding to increasing environmental regulations by focusing on the development of environmentally friendly pesticides, which provides significant market opportunities [136]. - The company has implemented a waste treatment system to comply with national and local emission standards [147]. - The company actively engages in charitable activities and fulfills social responsibilities, promoting sustainable development [156]. - The company is committed to improving its talent development mechanisms to ensure sustainable growth and enhance employee skills in safety and environmental protection [140]. Future Outlook - The company plans to raise up to 400 million RMB through a targeted stock issuance to support the "Annual Production of 8,500 Tons of Ketone Series Green New Materials Project" in Tongling, Anhui [75]. - The company has set a future outlook with a revenue target of 1.5 billion RMB for the next fiscal year, indicating an expected growth of 25% [169]. - The company is investing in new technology to improve production efficiency, aiming for a 20% reduction in production costs over the next two years [169]. - The management team has emphasized a commitment to sustainability, with plans to reduce carbon emissions by 30% by 2025 through innovative practices [169]. - The company plans to continue expanding its product range and optimizing its business structure to enhance profitability and sustainable growth [79].