锦鸡股份(300798) - 2021 Q4 - 年度财报

Financial Performance - The company reported a total revenue of RMB 417,748,945 for the year 2021, with a cash dividend of RMB 0.30 per 10 shares to all shareholders[5]. - The company's operating revenue for 2021 was CNY 993,470,872.82, representing a 31.83% increase compared to CNY 753,586,711.44 in 2020[19]. - Net profit attributable to shareholders for 2021 was CNY 52,438,791.03, a significant increase of 129.07% from CNY 22,892,203.04 in 2020[19]. - The total assets at the end of 2021 reached CNY 2,137,707,738.17, a 39.85% increase from CNY 1,528,625,972.38 at the end of 2020[19]. - The company's basic earnings per share for 2021 was CNY 0.13, reflecting a 160.00% increase from CNY 0.05 in 2020[19]. - The weighted average return on equity for 2021 was 4.18%, an increase of 2.29 percentage points from 1.89% in 2020[19]. - The total profit reached 62.05 million yuan, reflecting a significant year-on-year growth of 126.12%[33]. - The company achieved an operating income of 993.47 million yuan, a year-on-year increase of 31.83%[33]. - The company reported a total of CNY 60,642.99 in non-recurring gains for 2021, compared to CNY 6,270,991.30 in 2020[24]. Risks and Challenges - The company faces various risks including macroeconomic risks, safety production risks, and raw material price risks, which could impact future performance[5]. - The company is facing challenges from fluctuating procurement prices of dye intermediates, which introduce uncertainty in operating costs[33]. - The textile industry in China is facing challenges from rising labor costs and environmental constraints, leading to a shift of low-end production capacity to countries like Vietnam and India[51]. - The dyeing and printing industry faces challenges such as weak global economic recovery and increased environmental pressures, necessitating accelerated transformation[53]. - The company acknowledges risks from macroeconomic fluctuations and international trade tensions, particularly due to geopolitical factors[134]. - Future market expansion may be hindered if the company fails to meet technological and policy requirements, potentially leading to underutilization of new production capacity[138]. - The ongoing COVID-19 pandemic continues to pose uncertainties that could adversely affect the company's profitability and project outcomes[140]. Research and Development - The company developed three new products, including Reactive Yellow Brown NA and Reactive Blue CE, which have been successfully launched in the market[36]. - R&D expenses amounted to 33.18 million yuan, representing 3.34% of the company's operating income, maintaining a stable investment ratio[36]. - The company plans to enhance its R&D capabilities and develop high-end multi-purpose reactive dyes, focusing on five high and one low characteristics[132]. - The company is increasing its investment in disperse dyes, which have a higher annual market demand compared to reactive dyes[132]. - The company is focusing on developing dye intermediates to enhance the quality and stability of raw material supply, thereby reducing costs[132]. - The company has established partnerships with universities for R&D, enhancing its capabilities in new materials and processes[66]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the dye industry[12]. - The company aims to have 95% of dye enterprises located in industrial parks by 2025, promoting group development through mergers and acquisitions of 40% of enterprises[31]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[162]. - The company plans to continue expanding its market presence through strategic acquisitions and investments in new technologies[112]. - The company is actively exploring energy-saving and emission-reduction technologies to minimize environmental pollution during dye production[137]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has ensured compliance with relevant regulations[4]. - The company has established an independent financial accounting department and a financial management system, ensuring independent financial decision-making[146]. - The governance structure includes a shareholders' meeting, board of directors, and supervisory board, allowing for lawful exercise of management rights[146]. - The company has maintained effective internal control over financial reporting, with no significant deficiencies reported during the period[197]. - The company has adhered to a cash dividend policy that requires a minimum of 40% of profit distribution to be in cash, reflecting a commitment to shareholder returns[194]. Environmental and Safety Management - The company completed significant energy-saving modifications to its production facilities, contributing to reduced energy consumption and controlled carbon emissions[37]. - The company is focused on continuous investment in safety and environmental protection, with rising costs in these areas[33]. - The company has established effective safety production systems and has implemented a series of safety regulations to prevent accidents, although risks remain due to management and operational factors[136]. - The company has invested in environmental protection facilities and continuously increases investment in environmental governance to comply with stricter national policies, which may impact profitability[137]. Financial Management and Fundraising - The company raised a total of RMB 60,000 million through the issuance of 6,000,000 convertible bonds, with a net amount of RMB 57,523.92 million after deducting issuance costs[118]. - The total amount of funds raised in the public offering of A-shares was RMB 23,104.34 million, with a net amount of RMB 18,485.47 million after deducting various fees[117]. - The company has not encountered any significant issues in the use and disclosure of raised funds during the reporting period[119]. - The company plans to issue convertible bonds to raise funds for investment projects, with specific proposals discussed in board meetings[170]. Employee Management and Training - The company had a total of 683 employees at the end of the reporting period, with 432 in production, 29 in sales, 71 in technical roles, 10 in finance, and 141 in administration[179]. - The company conducted a comprehensive employee training program covering various topics including safety education and skills enhancement[181]. - A total of 402 individuals were trained in safety and environmental management through 8 sessions with external experts[182]. - The company organized 11 training sessions for sales personnel to enhance their skills and performance management[182]. Shareholder Returns - The company maintains a stable cash dividend policy, prioritizing cash dividends for profit distribution[184]. - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares (including tax), with a total cash dividend amounting to 12,532,495.35 CNY, which represents 100% of the total profit distribution[192]. - The total distributable profit for the year is reported at 84,901,837.35 CNY, indicating a strong profit position[192].