Miracll(SZ:300848)2022-03-14 16:00Financial Performance - The company's operating revenue for 2021 was CNY 1,297,752,752.20, representing a 71.47% increase compared to CNY 756,861,545.18 in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 119,146,747.52, a 16.77% increase from CNY 102,031,654.33 in 2020[18]. - The net cash flow from operating activities increased by 27.29% to CNY 161,032,852.34 in 2021, up from CNY 126,509,945.36 in 2020[18]. - The total assets at the end of 2021 reached CNY 1,687,997,248.82, a 62.56% increase from CNY 1,038,382,907.11 at the end of 2020[18]. - The company reported a basic earnings per share of CNY 0.89 for 2021, a slight decrease of 1.11% from CNY 0.90 in 2020[18]. - The company has seen a significant increase in its net assets, which rose by 13.51% to CNY 888,840,557.48 at the end of 2021 compared to CNY 783,027,809.96 at the end of 2020[18]. - In 2021, the company achieved a revenue of 1.298 billion yuan, representing a year-on-year growth of 71.47%[44]. - The sales volume reached 62,500 tons, an increase of 25.43% compared to the previous year[44]. - The net profit attributable to shareholders was 119 million yuan, reflecting a growth of 16.77% year-on-year[44]. - The TPU production volume reached 69,900 tons in 2021, marking a 36.37% increase from the previous year[45]. Profit Distribution - The company reported a profit distribution plan of 2.00 RMB cash dividend per 10 shares (including tax) and a capital reserve increase of 5 shares per 10 shares[4]. - The company reported a cash dividend of RMB 2.00 per 10 shares, totaling RMB 26,668,000.00, which represents 100% of the total profit distribution[140]. - The company plans to distribute cash dividends with a minimum of 80% of profits during profit distribution when in a mature stage without significant capital expenditure[168]. - In the case of significant capital expenditures during a mature stage, the minimum cash dividend proportion is set at 40%[168]. - For companies in a growth stage with significant capital expenditures, the minimum cash dividend proportion is 20%[168]. - The company aims to distribute at least 30% of the average distributable profit over any three consecutive fiscal years in cash, provided conditions are met[167]. Risks and Challenges - The company faces risks including raw material price fluctuations, intensified market competition, rising labor costs, and environmental protection risks[4]. - The company emphasizes the importance of risk awareness for investors regarding potential market and policy risks[4]. - The management highlighted the importance of macroeconomic conditions and raw material price fluctuations on the supply and demand dynamics of the TPU market[28]. - The company is facing risks from fluctuations in raw material prices, which significantly impact production costs and operating results[98]. - The construction and operation of the polyurethane new materials industrial park may face uncertainties due to macroeconomic and policy changes, potentially leading to project delays or modifications[100]. Research and Development - The company is actively engaged in R&D, with 58 patents, including 16 authorized inventions from overseas[37]. - The R&D budget has increased by 20% to support innovation and technology advancements in material science[122]. - The company launched 5 international invention patents and 13 domestic invention patents in 2021, enhancing its innovation capabilities[45]. - The number of R&D personnel increased by 9.84% to 67 in 2021, with a notable rise in the number of bachelor's degree holders by 20.93%[64]. - The company aims to improve product performance through technological research and development, enhancing product quality and supply capabilities[97]. Market Position and Strategy - The company is positioned in the polyurethane industry, which is experiencing rapid growth due to its wide applications across various sectors[27]. - The TPU (thermoplastic polyurethane) segment is identified as a key growth area, with increasing production capabilities and competitive advantages in the domestic market[28]. - The company has established a significant competitive advantage in certain niche markets through product quality, technological innovation, and differentiated services[29]. - The company is focused on optimizing product structure and enhancing production automation to strengthen its market position[28]. - The company has expanded its sales channels and is focusing on direct customers in the mid-to-high-end market to enhance profitability and customer loyalty[34]. Governance and Compliance - The company's governance structure includes a shareholder meeting, board of directors, and supervisory board, ensuring compliance with relevant laws and protecting shareholder rights[105]. - The board consists of 7 members, including 3 independent directors, and operates in accordance with established rules to ensure diligent decision-making[106]. - The company maintains strict compliance with information disclosure regulations, ensuring timely and accurate information is provided to all shareholders[107]. - The company operates independently from its controlling shareholders, with no reliance on them for business operations, and has a complete R&D, procurement, and sales system[109]. - The company has established effective internal control systems in compliance with relevant regulations[142]. Employee and Management - The total number of employees at the end of the reporting period was 285, with 265 in the parent company and 20 in major subsidiaries[135]. - The employee composition includes 147 production personnel, 26 sales personnel, 67 technical personnel, 5 financial personnel, and 40 administrative personnel[136]. - The company has implemented a performance-based compensation system to maintain market competitiveness and ensure internal fairness[137]. - The company emphasizes talent development through a comprehensive training system aimed at enhancing employees' skills and capabilities[138]. - The company reported a total remuneration of 6.3243 million yuan paid to directors, supervisors, and senior management during the reporting period[124]. Environmental and Social Responsibility - The company has established an environmental management system and passed the ISO 14001:2015 certification, but faces risks related to stricter environmental regulations that may increase operational costs[99]. - The company actively engages in social responsibility initiatives, including disaster relief efforts and educational support through scholarships[156]. - The company has implemented a comprehensive hazard identification and management system, conducting daily, weekly, and monthly inspections to ensure safety management[158]. - The company invests in safety production according to regulatory requirements, ensuring adequate funding for safety conditions[157]. Investment and Capital Management - The company raised a total of CNY 469.76 million from its initial public offering, with a net amount of CNY 421.02 million after deducting issuance costs[85]. - The company has a total of CNY 22.28 million in unused raised funds, which includes interest income after deducting fees[85]. - The company has engaged in wealth management activities, with a total of CNY 80.56 million in entrusted financial management, including CNY 20 million in bank wealth management products and CNY 16 million in securities firm wealth management products[200]. - The company has established a management system for the use of raised funds to ensure compliance with legal and regulatory requirements[176]. Future Outlook - The company expects a revenue growth guidance of 10-15% for the next fiscal year, driven by new product launches and market expansion[122]. - The company plans to achieve an annual production capacity of 200,000 tons of thermoplastic polyurethane (TPU) by 2023, with an investment of RMB 286 million[88]. - The company aims to enhance its core competitiveness by providing differentiated and customized TPU products, targeting various high-performance applications[97]. - The company will actively promote the construction of the Henan polyurethane new materials industrial park project to create new profit growth points[98].