Company code: Swancor Advanced Materials Co.Ltd(688585) company abbreviation: Swancor Advanced Materials Co.Ltd(688585) Swancor Advanced Materials Co.Ltd(688585)
Annual report for 2021
Important tips
1、 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. 2、 The company is not profitable at the time of listing and has not yet achieved profit □ yes √ no III. Major Risks indicate the risk of sharp decline in performance or loss:
The main raw materials required for the company's production are basic chemical raw materials such as basic epoxy resin, methacrylic acid and styrene, which will fluctuate to varying degrees due to the price of basic raw materials such as petroleum, market supply and demand, environmental protection and safety production policies. Since the fourth quarter of 2020, the market price of basic epoxy resin has fluctuated greatly, which has a great negative impact on the company's gross profit margin, resulting in a sharp decline in the company's operating performance in 2021.
During the reporting period, there was no significant adverse change in the main business and core competitiveness, which was consistent with the industry trend, and there was no significant risk in the continued operation ability.
The company has described the possible risks in detail in this report. Please refer to "section III Management Discussion and analysis". 4、 All directors of the company attended the board meeting. 5、 KPMG Huazhen Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 6、 Cai Chaoyang, the person in charge of the company, Xie Peizhen, the person in charge of accounting, and Xie Peizhen, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in the annual report. 7、 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
The 16th meeting of the second board of directors of the company deliberated and approved the proposal on the company's profit distribution plan in 2021, which needs to be submitted to the 2021 annual general meeting of shareholders for deliberation: in 2021, the company plans not to make profit distribution; No capital reserve will be converted into share capital and no bonus shares will be given. 8、 Whether there are important matters such as special arrangements for corporate governance □ applicable √ not applicable IX. risk statement of forward-looking statements √ applicable □ not applicable
The company's future plans, development strategies and other forward-looking statements involved in this report do not constitute the company's substantive commitment to investors. Investors are reminded to pay attention to investment risks. 10、 Whether there is any non operational occupation of funds by the controlling shareholders and their related parties no Xi. Whether there is any external guarantee in violation of the specified decision-making procedures no XII. Whether more than half of the directors cannot guarantee the authenticity, accuracy and completeness of the annual report disclosed by the company no XIII. Others □ applicable √ not applicable
catalogue
Section 1 interpretation Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section IV corporate governance Section V environment, social responsibility and other corporate governance 69 section VI important matters Section VII changes in shares and shareholders 115 Section VIII preferred shares Section IX corporate bonds 122 section x financial report one hundred and twenty-three
Financial statements containing the signatures and seals of the person in charge of the company, the person in charge of accounting work and the person in charge of accounting organization (Accounting Supervisor).
The catalogue of documents for future reference contains the original audit report sealed by the accounting firm and signed and sealed by the certified public accountant.
The originals of all company documents and announcements publicly disclosed on the designated information disclosure media of the company during the reporting period.
Section I interpretation
1、 Interpretation in this report, unless the context otherwise requires, the following words have the following meanings: Interpretation of common words
Company, Swancor Advanced Materials Co.Ltd(688585) , above Swancor Advanced Materials Co.Ltd(688585)
Wei Shanghai
Shangwei (Shanghai) Fine Chemical Co., Ltd
Swancor Samoa means Swancor ind.co., Ltd. (Samoa)
Strategic Samoa means strategic capital holding Limited (Samoa)
Shangwei enterprise refers to Shangwei Enterprise Co., Ltd
Shangwei investment control refers to Shangwei International Investment Holding Co., Ltd
Jinfeng investment holding refers to Jinfeng Investment Holding Co., Ltd
Funing Shangxin refers to Funing Shangxin consulting service partnership (limited partnership)
Funing Shangzhi refers to Funing Shangzhi consulting service partnership (limited partnership)
Funing Shangcheng refers to Funing Shangcheng consulting service partnership (limited partnership)
Weigang investment refers to swinhoka Investment Limited
Shangwei Tianjin refers to Shangwei (Tianjin) wind power materials Co., Ltd. (a wholly-owned subsidiary of the company)
Shangwei Jiangsu refers to Shangwei (Jiangsu) new materials Co., Ltd. (a wholly-owned subsidiary of the company)
Shangwei Hong Kong refers to Shangwei (Hong Kong) Investment Co., Ltd. (a wholly-owned subsidiary of the company)
Shangwei Malaysia means Swancor ind (m) Sdn. BHD. (a wholly-owned subsidiary of the company)
Shangwei Xingye refers to Shangwei Suzhou Xingye Materials Technology Co.Ltd(603928) Co., Ltd. (a wholly-owned subsidiary of the company)
Shangwei carbon fiber refers to Shangwei (Jiangsu) carbon fiber composite material Co., Ltd
Taiwan Shangwei carbon fiber refers to Shangwei carbon fiber composite Co., Ltd
Meijia new material refers to Anhui Meijia New Material Co., Ltd
Innovative breeding refers to Shangwei innovative breeding Co., Ltd
General meeting of shareholders refers to Swancor Advanced Materials Co.Ltd(688585) general meeting of shareholders
Board of directors means Swancor Advanced Materials Co.Ltd(688585) board of directors
Board of supervisors refers to Swancor Advanced Materials Co.Ltd(688585) board of supervisors
Articles of association refers to Swancor Advanced Materials Co.Ltd(688585) articles of Association
Vinyl ester resin refers to a kind of modified epoxy resin obtained by ring opening addition reaction between epoxy resin and methacrylic acid. It is usually called vinyl ester resin (VE), alias epoxy acrylate resin, which is thermosetting liquid resin
Flake mastic refers to glass flake mastic, which is a mixed material prepared by taking resin as binder and adding glass flake and powder, and can be scraped and applied. It is an indispensable and important raw material for the production of heavy-duty anti-corrosion coatings
Unsaturated polyester resin refers to one of the most commonly used thermosetting resins. It is a linear polymer formed by polycondensation of saturated dicarboxylic acid, unsaturated dicarboxylic acid and diol. It is diluted by crosslinking monomer or active solvent to form a linear polymer compound and a resin solution with certain viscosity
Special unsaturated polyester resin refers to p-benzene unsaturated polyester resin
Epoxy resin refers to epoxy resin, which generally refers to the polymer compound containing epoxy group in the molecular structure. The cured epoxy resin has good physical and chemical properties, and it has excellent bonding strength to the surface of metal and non-metallic materials
Composite materials refer to composite materials, which are composed of two or more materials with different properties through physical or chemical methods.
Various materials learn from each other in performance and produce synergistic effect, so that the comprehensive performance of the composite is better than that of the raw materials to meet various requirements
Unsaturated polyester resin, epoxy resin, polypropylene resin and other resins are used as matrix, and glass fiber, carbon fiber, aramid fiber and other fibers are used as reinforcing materials
Resin matrix composite refers to the composite material composed of various thermosetting or thermoplastic resins as matrix and glass fiber, carbon fiber and aramid fiber as reinforcement
FRP and glass fiber refer to a type of composite materials. It is a popular name for composite materials and FRP with glass fiber as reinforcement, also known as glass fiber reinforced plastics
Carbon fiber composite refers to a type of composite material, which takes carbon fiber as reinforcement
Synthetic resin refers to a kind of synthetic high molecular weight polymer, which has or exceeds the inherent characteristics of natural resin
Thermosetting resin refers to a kind of resin that produces chemical changes after heating, gradually hardens and forms, and does not soften or dissolve after heating
Thermoplastic resin has the properties of heat softening and cooling hardening, and has no chemical reaction. It is easy to process and shape, and has high mechanical energy. Its disadvantage is poor heat resistance and rigidity
Halogen free flame retardant refers to non-volatile and non corrosive gas during combustion, which is called pollution-free flame retardant
Methacrylic acid refers to colorless crystal or transparent liquid with pungent smell. It is soluble in hot water and most organic solvents such as ethanol and ether. It is easy to polymerize into water-soluble polymer. It is one of the main raw materials of the company
Styrene refers to an organic compound formed by replacing one hydrogen atom of ethylene with benzene. It is insoluble in water, soluble in ethanol and ether, and gradually polymerized and oxidized when exposed to air. In industry, it is an important monomer of synthetic resin, ion exchange resin and synthetic rubber, and one of the main raw materials of the company
Low shrinkage agent refers to a kind of additive that can reduce the shrinkage of resin in the process of processing and molding
Pultrusion molding refers to the process of producing composite profiles by impregnating continuous fibers or their fabrics with resin under the traction of traction equipment and heating the molding die to cure the resin
Prepreg refers to the composition of resin matrix and reinforcement made by impregnating continuous fiber or fabric with resin matrix under strictly controlled conditions. It is the intermediate material for manufacturing composite materials
Crosslinking density refers to the number of crosslinking bonds in the crosslinked polymer. The greater the crosslinking density, that is, the more crosslinking bonds per unit volume, the greater the degree of crosslinking. For epoxy resin based materials
