Dividend and Profit Distribution - The company plans to distribute a cash dividend of 5.00 CNY per 10 shares to all shareholders, based on a total of 47,780,000 shares[5]. - The company has not proposed any bonus shares for the current financial year, indicating a focus on cash dividends[5]. - The proposed cash dividend is RMB 5.00 per 10 shares, totaling RMB 23,890,000.00, which represents 100% of the profit distribution[160]. - The company’s profit distribution policy prioritizes cash dividends, with a minimum of 10% of distributable profits allocated for cash dividends if no major investments are planned[156]. - The company’s profit distribution policy remains unchanged during the reporting period, ensuring a stable return mechanism for shareholders[158]. - The company’s cash dividend policy is compliant with regulations and provides adequate protection for minority shareholders[160]. Financial Performance - The company's operating revenue for 2021 was ¥1,303,081,484.82, representing a 17.59% increase compared to ¥1,108,162,028.53 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥64,169,218.18, a decrease of 16.64% from ¥76,975,780.08 in 2020[19]. - The net profit after deducting non-recurring gains and losses was ¥56,738,870.49, down 24.28% from ¥74,937,156.89 in 2020[19]. - The total assets at the end of 2021 amounted to ¥1,243,465,977.25, an increase of 16.24% from ¥1,069,698,045.03 at the end of 2020[19]. - The net assets attributable to shareholders increased by 16.42% to ¥456,384,494.69 at the end of 2021 from ¥392,012,172.97 at the end of 2020[19]. - The basic earnings per share for 2021 was ¥1.7910, a decrease of 16.64% from ¥2.1485 in 2020[19]. - The weighted average return on equity for 2021 was 15.13%, down from 21.27% in 2020, a decline of 6.14%[19]. - The net cash flow from operating activities for 2021 was -¥128,695,916.78, showing a slight improvement of 2.54% compared to -¥132,056,488.37 in 2020[19]. - The total profit of the rubber and plastic products industry in 2021 was CNY 170.25 billion, reflecting a year-on-year decline of 2.9%[44]. Research and Development - The company invested CNY 41.51 million in R&D, representing a 14.55% increase compared to the previous year[63]. - The company has been recognized as a "National Specialized and New 'Little Giant' Enterprise," highlighting its innovation capabilities and competitive advantages in the industry[46]. - The company focuses on R&D and has been awarded multiple provincial and national technology advancement awards, indicating its commitment to innovation[46]. - The company has established a polymer materials R&D center and has been recognized as a provincial engineering technology center, enhancing its innovation capabilities[57]. - The company has developed various modification technologies, including filling modification and flame retardant modification, supporting its continuous production of modified plastics[57]. Market and Industry Trends - The production of synthetic resin in China increased from 84.58 million tons in 2017 to 107.65 million tons in 2021, with a compound annual growth rate (CAGR) of 6.22%[31]. - The demand for automotive modified plastics is expected to exceed 640,000 tons by 2022, with a growth rate of approximately 6% from 2017 to 2022[39]. - The modified plastics industry is supported by national policies, including the "14th Five-Year" plan, which aims for strategic emerging industries to account for over 17% of GDP[36]. - The automotive industry is increasingly focusing on lightweight materials, with targets to reduce vehicle weight by 10%, 20%, and 35% by 2020, 2025, and 2030 respectively[39]. - The modified plastics market is experiencing rapid development due to the increasing demand for high-performance materials in various manufacturing sectors[36]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[5]. - The report includes a comprehensive financial statement signed by the company's responsible persons, ensuring the accuracy and completeness of the financial report[4]. - The company is committed to maintaining transparency and accountability in its financial disclosures[4]. - The annual report is available for public access, ensuring compliance with disclosure regulations[9]. - The company has established a clear governance structure to oversee its financial reporting and compliance processes[4]. - The company has a well-defined governance structure, with independent directors and committees operating in compliance with relevant laws and regulations[125]. Challenges and Risks - The company has faced challenges due to rising raw material prices, but it continues to optimize product structure and enhance competitiveness[44]. - The company faces risks from macroeconomic changes that could impact demand in the home appliance and automotive sectors, potentially affecting its performance[110]. - The company's main raw material, polypropylene and other synthetic resins, accounts for over 90% of production costs, making raw material price fluctuations a significant risk to profitability[111]. - The company is exposed to risks from downstream market demand fluctuations, which are closely tied to macroeconomic conditions and trade environments[114]. - The ongoing COVID-19 pandemic presents operational risks, with potential impacts on performance if domestic outbreaks occur[118]. Employee and Management - The company has a strong leadership team with extensive experience in the engineering plastics industry, including the current chairman and chief engineer who has been with the company since its inception[132]. - The total number of employees at the end of the reporting period is 459, with 424 in the parent company and 35 in major subsidiaries[151]. - The company has implemented new leasing standards and changed related accounting policies[149]. - The company has a compensation and assessment committee that determines the remuneration plans for directors and senior management based on company performance and industry standards[140]. - The company emphasizes employee training and development, focusing on various dimensions including new employee training and management skills enhancement[153]. Environmental Responsibility - The company has implemented various environmental protection measures, including the construction of a new dust removal system with a capacity of 75,000 m³/h and an active carbon adsorption system[171]. - The company has maintained compliance with national environmental protection laws, with no incidents of environmental pollution or administrative penalties during the reporting period[172]. - The company has committed to a long-term safety production mechanism, aiming for zero accidents and continuous improvement in safety performance[176]. - The company has upgraded environmental protection facilities, ensuring pollutant emissions meet national standards[175]. Shareholder Rights and Commitments - The company emphasizes the importance of effective communication with shareholders to ensure equal treatment and rights, particularly for minority shareholders[122]. - The company will ensure compliance with all relevant regulations from the China Securities Regulatory Commission and stock exchanges regarding shareholding and reduction[182]. - The company has committed to a three-year lock-up period for shares held by major shareholders, starting from the date of listing on the Shenzhen Stock Exchange[186]. - The company will publicly disclose any reasons for not fulfilling its commitments regarding share reduction at shareholder meetings and through designated media[182]. - The company has established long-term commitments to ensure compliance with its obligations, with specific measures in place for accountability[193].
聚赛龙(301131) - 2021 Q4 - 年度财报