Liuguo Chemical(SH:600470)2022-03-21 16:00Financial Performance - In 2021, the company's operating income reached CNY 5,984,502,357.28, representing a 24.08% increase compared to CNY 4,823,232,214.48 in 2020[20] - The net profit attributable to shareholders was CNY 237,288,956.34, a 41.26% increase from CNY 167,983,321.71 in the previous year[20] - The net cash flow from operating activities significantly increased by 232.67% to CNY 476,094,970.63, compared to CNY 143,113,139.37 in 2020[20] - The total assets of the company at the end of 2021 were CNY 5,370,261,852.23, an 18.91% increase from CNY 4,516,277,653.10 at the end of 2020[20] - The net assets attributable to shareholders increased by 17.27% to CNY 1,611,320,034.24, compared to CNY 1,374,018,365.63 in 2020[20] - The basic earnings per share rose to CNY 0.45, a 40.63% increase from CNY 0.32 in the previous year[21] - The weighted average return on net assets was 15.90%, an increase of 2.57 percentage points from 13.33% in 2020[22] - The company reported a net profit of CNY 166,698,310.24 for the year, but did not distribute profits due to not meeting distribution conditions[5] - The company plans to submit the profit distribution proposal to the 2021 annual general meeting for review[5] Revenue and Sales - In 2021, the company achieved total operating revenue of CNY 5.579 billion, with a total industrial output value of CNY 6.281 billion[28] - The company exported over 400,000 tons of fertilizer products in 2021, marking the highest level in its history[29] - The company reported a government subsidy income of CNY 90.33 million in 2021, compared to CNY 48.40 million in 2020[25] - The company achieved a sales revenue of 598,450.24 million RMB, representing a year-on-year increase of 24.08%[42] - The net profit reached 31,980.55 million RMB, an increase of 13,694.38 million RMB compared to the previous year[42] - The earnings per share (EPS) was reported at 0.45 RMB[42] - The sales revenue from international markets reached 898,836,237.39 RMB, reflecting a year-on-year increase of 16.17%[47] - The company reported domestic sales revenue of approximately CNY 4.68 billion, an increase of 11.77% year-on-year, while international sales revenue reached approximately CNY 898.84 million, a significant increase of 255.73%[100] Production and Operations - The company completed the construction and operation of the second phase of the phosphogypsum purification project, improving gypsum quality and reducing residual phosphorus[30] - The company launched new products totaling 334,800 tons, including complex multifunctional fertilizers, under a "new products + differentiation" marketing strategy[30] - The company achieved a reduction in phosphogypsum historical inventory by 149,720 tons, with a total production of 1.4467 million tons of phosphogypsum in 2021[29] - The company completed a fertilizer storage task of 50,000 tons and received government subsidies of 2.13 million yuan during the reporting period[31] - The company achieved a successful trial production of a 100,000-ton powdered monoammonium phosphate facility, enhancing energy efficiency and cost reduction while maintaining total output[32] - The production capacity for monoammonium phosphate is 300,000 tons with a utilization rate of 138.72%, and for diammonium phosphate, it is 640,000 tons with a utilization rate of 96.96%[93] Research and Development - The company has been actively developing patented technologies in new products and resource utilization, maintaining a leading position in the industry[41] - The company’s R&D expenses amounted to CNY 162,304,943.59, representing 2.71% of total revenue[54] - The number of R&D personnel is 156, constituting 10.39% of the total workforce[55] - Research and development investments increased by 25% in 2021, totaling 50 million, to support new technology initiatives[121] - The company has established a comprehensive technology innovation system, including a national-level postdoctoral research station and various research centers, to enhance R&D capabilities[82] Environmental Compliance and Sustainability - The company maintained a safety record with a light injury rate of 0.6‰ and a 100% compliance rate in environmental monitoring[29] - The company is committed to green development and has initiated projects for comprehensive treatment of fluorine-containing tail gas and energy-saving upgrades in phosphate production lines[31] - The company has implemented a cash dividend policy in accordance with regulatory requirements, ensuring clarity and compliance[141] - The company has established a comprehensive performance evaluation system for senior management, linking compensation to performance targets[142] - The company has made significant investments in pollution control facilities, including the addition of a bag filter in the ammonia workshop in September 2021[163] - The company has established various emission outlets for dust and particulate matter, all of which are monitored to ensure compliance with environmental standards[148] - The company’s emissions data for 2021 indicates that all pollutants were within the limits set by their discharge permits, demonstrating effective environmental management practices[155] Strategic Initiatives and Future Plans - The company is transitioning from a production-oriented to a marketing-oriented enterprise, expanding its market presence both domestically and internationally[105] - The company plans to implement a diversified market strategy, integrating online services with offline sales channels[105] - The company aims to enhance its phosphate chemical industry while extending the coal chemical industry chain, focusing on fine phosphate, electronic chemicals, and new environmentally friendly fertilizers[105] - The management provided a positive outlook for the upcoming year, anticipating a growth rate of approximately 10%[119] - The company plans to invest heavily in R&D, allocating 5% of revenue towards new technology development[119] - The company is exploring potential mergers and acquisitions to enhance market presence[119] Community Engagement and Social Responsibility - The company donated 50,000 yuan to Jinshan Village in October 2021 as part of its poverty alleviation efforts[186] - The company purchased agricultural products worth 577,700 yuan from Jinshan Village to support local farmers[187] - The company assisted Jinshan Village in securing funding of CNY 3.832 million for the creation of a provincial-level beautiful village center in 2021[188] - The company is focused on improving living conditions and public cultural services in Jinshan Village[188] - The company has actively engaged in community health and safety education initiatives, promoting awareness of occupational health and environmental protection[185] Governance and Management - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholder[113] - The company has established an independent financial department with a separate accounting system and management practices, ensuring no interference from the controlling shareholder in fund usage[113] - The company’s board of directors and senior management received total pre-tax compensation of 119.88万元 and 111.11万元 respectively during the reporting period[117] - The company held its annual general meeting on April 15, 2021, where several resolutions were passed, including the approval of the 2020 financial settlement report[115] - The company has a robust labor management system and independent employee team, ensuring complete independence in personnel management[113]