Company code: China Jushi Co.Ltd(600176) company abbreviation: China Jushi Co.Ltd(600176) China Jushi Co.Ltd(600176)
Summary of annual report 2021
Section I important tips
1. The summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should http://www.sse.com.cn. The website carefully reads the full text of the annual report. 2. The board of directors, board of supervisors, directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and integrity of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attended the board meeting. 4. Tianzhi International Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
According to the audit report issued by Tianzhi International Certified Public Accountants (special general partnership), the parent company realized a net profit of 243976585019 yuan in 2021, and the company’s profit available for distribution was 222556426374 yuan by the end of 2021. After comprehensive consideration, the profit distribution plan for 2021 is proposed as follows: cash of 4.8 yuan (including tax) for every 10 shares based on the company’s total share capital of 4003136728 shares. In 2021, the company distributed dividends totaling 192150562944 yuan (including tax).
According to the audit report issued by Tianzhi International Certified Public Accountants (special general partnership), as of December 31, 2021, the balance of the parent company’s capital reserve was 613609751967 yuan. After comprehensive consideration, it is proposed not to convert capital reserve into share capital in 2021.
Section II basic information of the company
1. Company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange China Jushi Co.Ltd(600176) China Jushi Co.Ltd(600176) Sinochem, China Fiberglass
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Li Chang, Shen Guoming
Office address: No. 318, Fenghuanghu Avenue, Tongxiang City, Zhejiang Province
Tel: 057388181888
E-mail [email protected]. [email protected].
2. Introduction to the company’s main business during the reporting period
(1) Introduction to glass fiber products
Glass fiber is an inorganic non-metallic material with excellent performance. It has a wide variety and has the advantages of good insulation, strong heat resistance, good corrosion resistance and high mechanical strength. Its main components are silica, alumina, calcium oxide, boron oxide, magnesium oxide and sodium oxide. According to the alkali content in glass, it can be divided into alkali free glass fiber, medium alkali glass fiber and high alkali glass fiber, Among them, alkali free glass fiber accounts for more than 95% of the output scale of the whole industry. Glass fiber is usually used as reinforcement, electrical insulation and thermal insulation materials in composites, circuit substrates and other fields of the national economy. It is a new material industry that the state focuses on encouraging the development. It is made of various kinds of raw materials (such as 1 / 5 and 2 / 7 microns of silica yarn, which is made from high-temperature drawing (above figure) and high-temperature drawing (above figure) and other raw materials, such as silica yarn (1 / 5 and 2 / 7 microns), which is equivalent to the proportion of 20 microns of raw materials, such as silica yarn (above figure) and so on, Each bundle of fiber precursor is composed of hundreds or even thousands of monofilaments.
(2) Major manufacturers in the global glass fiber industry
Since 2000, China’s glass fiber has been in the stage of rapid development, and the production scale has been expanding. The global glass fiber industry is highly concentrated and has formed an obvious oligopoly competition pattern. The annual glass fiber production capacity of six glass fiber manufacturers China Jushi Co.Ltd(600176) , American Owen Corning (OC), Japan electric nitrate subsidiary (NEG), Taishan Glass Fiber Co., Ltd., Chongqing International composite Co., Ltd. and American JM accounts for more than 75% of the total global glass fiber production capacity, The annual glass fiber production capacity of China’s three major glass fiber production enterprises accounts for more than 70% of China’s glass fiber production capacity. The rapid rise of Chinese glass fiber enterprises represented by China Jushi Co.Ltd(600176) is constantly changing the world glass fiber pattern.
(3) Main downstream applications of glass fiber
Globally, the main application fields of glass fiber are concentrated in building materials, electronics and electricity, transportation, pipe and tank, industrial application and new energy and environmental protection, accounting for about 34%, 21%, 16%, 12%, 10% and 7%. Among them, there are relatively periodic application fields (building materials, pipes and cans, etc.) and relatively emerging application fields (automobile lightweight, 5g, wind power). Therefore, the glass fiber industry has the dual attributes of “cycle” and “growth”. With the development and progress of the industry, its “growth” attribute continues to strengthen.
In 2021, under the background of “carbon peaking and carbon neutralization” rising as the national strategic goal, the penetration promotion process of glass fiber products will not only be driven by their own cost-effective advantages, but also be assisted by policy guidance. The certainty and prosperity of downstream energy conservation and environmental protection will accelerate the penetration of glass fiber products. In terms of the application of corresponding glass fiber products in the field of wind power, the amount of glass fiber required for the installation of unit GW of wind power is about 10000 tons (according to Ming Yang Smart Energy Group Limited(601615) prospectus). For the application of glass fiber products in the field of automobile lightweight, glass fiber reinforced plastics are widely used to replace traditional metals because of their strong mechanical properties and light weight, so as to achieve the purpose of weight reduction and emission reduction. For fuel vehicles, the general body mass can be reduced by 10% and the fuel consumption can be reduced by 6% – 8%. For new energy vehicles, lightweight must also be pursued to increase the mileage. In the context of dual carbon, the trend of automobile lightweight and the proportion of new energy will be more certain, and the prospect of glass fiber chopped precursor products will be broader.
The company is mainly engaged in the production and sales of glass fiber and products. During the reporting period, the company achieved sales volume of 2.3528 million tons of roving and products; The sales volume of electronic cloth is 440 million meters, all of which are the highest in history. Throughout the year, the company’s glass fiber and its products business achieved a total operating income of 178446531 million yuan, accounting for 94.97% of the main business income. 3. Main accounting data and financial indicators of the company 3.1 main accounting data and financial indicators in recent three years
Unit: yuan currency: RMB
20212020 compared with 2019 of the previous year
Increase or decrease (%)
Total assets 43828317484553673726836283 19.3033604233245
Attributable to listed companies
Net assets of shareholders of the company 22567564914671743658568922 29.43156462831388
Operating income 19706882079971166619681943 68.921049329311571
Attributable to listed companies
The net profit of shareholders of the company is 602847374653241611098892 149.51212886527967, which belongs to the listed company
Net profit generated from non recurring activities of shareholders 1947389816687
Net cash flow of 598115852645205150199304 191.55276859659274
The weighted average net capital was 30.15 14.68, an increase of 15.47 percentage points and 14.34 yield (%)
Basic earnings per share 1.5059 0.6036149.49 0.6078 (yuan / share)
Diluted earnings per share 1.5059 0.6036149.49 0.6078 (yuan / share)
3.2 main accounting data by quarter in the reporting period
Unit: yuan currency: RMB
First quarter second quarter third quarter fourth quarter
(January March) (April June) (July September) (October December)
Operating income 399613419827456420463696527595784247587058540227
Net profit attributable to shareholders of listed company 106345454 Xiamen C&D Inc(600153) 357198579170753137701172391583773
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 105940500989, 145294475322, 14340332246 and 120371864930
Net cash flow from operating activities 121919065223162498811838111010638537202687337047
Description of differences between quarterly data and disclosed periodic report data
□ applicable √ not applicable
4. Shareholders
4.1 total number of ordinary shareholders, total number of preferred shareholders with voting rights restored and special shares held at the end of the reporting period and the end of the month before the disclosure of the annual report
Total number of shareholders of voting shares and top 10 shareholders
Unit: shares
As of the end of the reporting period, the total number of common shareholders (households) was 148495
Total number of ordinary shareholders (households) at the end of last month before the disclosure date of the annual report 150938
Shareholding of top 10 shareholders
Holding a pledge, mark or freeze
Name of shareholders proportion of increase or decrease in the number of shares held at the end of the reporting period (%)
(full name) number and nature of shares
Copy quantity status
China Building Materials Co., Ltd. 135085476107973915126.97 0 none
