Company code: Shanghai Smith Adhesive New Material Co.Ltd(603683) company abbreviation: Shanghai Smith Adhesive New Material Co.Ltd(603683) Shanghai Smith Adhesive New Material Co.Ltd(603683)
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 go to www.sse.com com. cn. The website carefully reads the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness 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 attend the board meeting. 4. Tianheng 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 standard unqualified audit report [Tianheng Shenzi (2022) No. 00702] issued by Tianheng Certified Public Accountants (special general partnership), as of December 31, 2021, the profit available for distribution to shareholders of the company was 26417598121 yuan. According to the resolution of the board of directors, it is proposed to distribute profits and increase share capital based on the total share capital registered on the date of equity distribution. The company’s profit distribution and capital reserve conversion to share capital in 2021 are as follows:
(1) The company plans to distribute a cash dividend of 0.55 yuan (including tax) to all shareholders for every 10 shares. As of March 29, 2022, the total share capital of the company is 183569000 shares. Based on this calculation, the total cash dividend to be distributed is 1009629500 yuan (including tax), and the remaining undistributed profits are accumulated to the next year. The total cash dividends distributed this time accounted for 31.87% of the net profit attributable to shareholders of the listed company in the current year.
(2) The company plans to increase 2 shares for every 10 shares by converting capital reserve into share capital to all shareholders. As of March 29, 2022, the total share capital of the company is 183569000 shares. After this increase, the total share capital of the company is 220282800 shares.
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 Shanghai Smith Adhesive New Material Co.Ltd(603683) Shanghai Smith Adhesive New Material Co.Ltd(603683) –
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Pan Xiaochan
Office address: 1108, building 11, No. 1569, Yushu Road, Songjiang District, Shanghai
room
Tel: 02131167522
Email Xiaochan [email protected].
2. Introduction to the company’s main business in the reporting period
The industry in which the company is located is the adhesive material and adhesive industry in the chemical industry. As a sub industry of fine chemical industry, it is a key industry supported by the national industrial policy. The company mainly provides adhesive materials, adhesives and other products for industrial enterprises, mobile phone manufacturers, power battery manufacturers, screen display manufacturers and other customers, which is an indispensable link in the industrial chain.
In recent years, with the continuous development of China’s economy, the rapid growth of industrial output value and demand for industrial products, driving the increasing demand for adhesive materials and adhesives, the production and consumption center of global adhesive tape and adhesive enterprises has gradually shifted to China, and the production scale of the company’s industry has expanded rapidly. Moreover, with the continuous improvement of the strength of China’s innovative science and technology enterprises and the continuous expansion of the application fields of various adhesive products, there is a gradual demand for new products in many fields such as 5g communication, electronics and appliances, power battery and new energy vehicles, Internet of things, machinery manufacturing, light industry and daily life. Adhesive materials and adhesives have become important products to realize lightweight, high adhesion, quality and efficiency improvement in various fields. According to the statistics of China adhesive and adhesive tape industry association, in 2020, the total sales volume of adhesive in China was about 7.09 million tons, with a total sales volume of 100.64 billion yuan. The total sales volume of adhesive tape was 29.9 billion square meters, with a total sales volume of 50.08 billion yuan.
Looking forward to the future, thanks to the precise control of China’s epidemic development and the important window period of rapid development of China’s economic activities, the investment demand, consumption upgrading demand and ecological environment improvement demand under the internal cycle have become a strong engine for the rapid development of adhesive tapes and adhesives in China. At the end of the 14th five year plan, China’s adhesive tape and adhesive products will change the situation of insufficient high-end and surplus low-end domestic products, further enhance the added value of the industry, and transform from extensive scale expansion development to higher quality benefit promotion development. During this period, with the upgrading of products, the improvement of production efficiency, the introduction and implementation of industrial environmental protection policies and standards and other factors, the development of China’s adhesive industry will mainly show six trends.
Trend 1: on the product side, emerging application markets and application scenarios give birth to the demand for emerging products, and the overall added value of the industry will increase significantly. With the continuous breakthrough of 5g, new energy vehicles and other cutting-edge technologies and the gradual rise of cutting-edge concepts such as the Internet of things, strategic emerging industries will usher in explosive development in the future, which will strongly stimulate the emergence of new market space in the adhesive industry. Moreover, this kind of emerging adhesive market will become the home of leading adhesive material enterprises. For example, in the field of adhesive for consumer electronics, Huixin, Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) , Xinlun, Huitian, Jitai, Sibao, Yongguan and other strong adhesive listed enterprises including the company are gathered. In addition, the company, Saiwu, Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) and other leading enterprises in the industry have also gradually broken through the fields of new energy vehicles, photovoltaic, rail transit, aerospace, medical devices and so on.
Trend 2: at the sales end, binding terminal large customers has become the main theme, and manufacturers have upgraded from products to solution service providers. As the viscose industry enters the high-quality development stage, “technology + service” has become an element of building an enterprise moat, so as to form the systematic ability of imitation and raise the entry barriers of small and medium-sized enterprises; At the same time, forming strong binding with key customers is an important mode for adhesive enterprises to improve their control over the terminal market. Through customized development, ensuring the quality of products and services and establishing long-term cooperation have become the efforts of Chinese adhesive manufacturers in the next stage. For example, the electronic tape of Desa, an international well-known adhesive manufacturer, binds large manufacturers such as Volkswagen, BMW and Mercedes Benz, and provides products such as medium and high temperature textured paper tape, masking tape and color separation tape, supporting masking design, tooling tools and special-shaped die slicing solutions; China’s leading enterprise Guangzhou Jointas Chemical Co.Ltd(002909) has established cooperation with 90 of the top 100 real estate enterprises to provide various industrial adhesives or tapes and integrate after-sales services.
Trend 3: on the investment side, Matthew effect is gradually highlighted. Leading adhesive enterprises will integrate industrial resources through mergers and acquisitions and joint venture cooperation, gradually improve the industrial chain capacity, and gradually improve the industrial concentration. At present, leading adhesive enterprises have sought to obtain key technical achievements, upstream raw materials and downstream sales channels through acquisition and merger outside China, open up the industrial chain, further improve product competitiveness, expand sales channels, gradually form vertical integration advantages, and continuously reduce costs and increase efficiency. In the future, small production enterprises with backward technical level, lack of independent innovation ability, high pollution and high energy consumption will be eliminated one after another. China’s leading enterprises will accelerate their development with the help of the advantages of the capital market, promote the overall development trend of large-scale and intensive industry, and continuously improve the industry concentration and technical level.
Trend 4: on the technology side, speed up technological innovation and independent control, and accelerate the entry of domestic substitutes for imports into deep water. As an important auxiliary material for downstream applications, adhesive materials need to actively meet the upgrading of China’s application industry with world leading position. At present, China has achieved a high degree of localization substitution in the fields of photovoltaic power generation and building decoration, and has achieved a wide range of domestic substitution import in some middle and low-end fields of consumer electronics. However, domestic substitution import is in the development or embryonic stage in the high-end fields of consumer electronics, new energy power batteries and new energy vehicles, rail transit and aerospace, Adhesive manufacturers need to vigorously carry out technological innovation and breakthrough, cooperate with the national long-term development strategy, and build a strong national enterprise.
Trend 5: on the cost side, with the decline of the overall profit level of the industry, reducing cost and increasing efficiency has become a long-term topic. Over the past decade, China’s adhesive industry has gradually matured, and the average market price has continued to decline slowly, posing new challenges for adhesive enterprises. Therefore, adhesive enterprises should continue to make efforts in lean production, efficiency optimization and management improvement, improve the level of automation and intelligent production, and actively break through to the field of high added value to avoid falling into the vicious circle of low-cost competition.
With the goal of becoming an “international leader and product solution provider in adhesive material industry”, the company continues to improve product quality and brand value through technological innovation, automation and digitization. The main business covers the R & D, production and sales of various industrial adhesive materials, electronic adhesive materials, functional film materials and special paper. Among them, in terms of industrial adhesive materials, take the realization of large-scale, high cost performance, differentiation and branding as the development route, make full use of the company’s resources in the upstream special paper and adhesive field, and improve product coverage and product quality according to the needs of traditional and emerging applications; In terms of electronic and functional film materials, precision coating technology will drive the improvement of product quality, take embedded R & D as the entrance, deeply understand customer needs, establish long-term strategic cooperation with customers, and strive to open new customer channels such as power batteries, new energy vehicles and folding screen mobile phones; In terms of special paper, we should break through traditional papermaking technology, continue product innovation, improve product functionality, further complete import substitution, and take advantage of the industry east wind of “replacing plastic with paper” to continue to develop new environmentally friendly special paper categories; In terms of chemical materials, vigorously build a capacity system from basic research to application development, realize the double leap of product functionality and applicability, and enable the full development of other businesses. In addition, the company is also actively arranging graphene business, which has passed the certification of many enterprises and achieved small batch trial production and shipment.
At the same time, by strengthening basic research, optimizing process technology, the company continues to accelerate product upgrading, build laboratories and carry out embedded R & D with customers, continuously improve the stickiness with customers and deeply tap customer needs. Nowadays, the company’s products have been widely used in the fields of architectural decoration, automobile manufacturing and automobile beauty, electronic and electrical products manufacturing, furniture manufacturing, stationery, packaging, aviation high-speed railway and so on. In the future, the company will gradually form a solution group in the automotive industry solutions, consumer products, design and construction, electronic materials, electric power and energy, rail transit and transportation, so as to connect sales, R & D and production, create system solutions, fully improve customer experience and create value for customers. 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 176071061128165088790032 6.65151190 Shenzhen Noposion Agrochemicals Co.Ltd(002215)
Attributable to listed companies
Net assets of shareholders of the company 9639090412292773243670 3.9079062773749
Operating income 139471704887103874071386 34.2793138707351
Attributable to listed companies
The net profit of shareholders of the company 316834064515549694770 -79.62346995275 belongs to the listed company
The net profit of shareholders of the company deducting 29013486803370766743 -13.93 -1 Goldenmax International Technology Ltd(002636) 118 non recurring profits and losses is generated from operating activities
Net cash flow of 126187570137776004345 62.288824056856
Weighted average net assets decreased by 14.78 percentage points from 3.33 to 18.11, with a yield of 0.44%
Basic earnings per share 0.18 0.88 -79.55 0.02 (yuan / share)
Diluted earnings per share 0.18 0.88 -79.55 0.02 (yuan / share)
3.2 main accounting data by quarter in the reporting period
Unit: yuan currency: RMB
First quarter second quarter third quarter
