Cathay Biotech Inc(688065) released the annual report of 2021 on April 6, with gratifying results. In 2021, Cathay Biotech Inc(688065) achieved a revenue of 2.197 billion yuan, with a year-on-year increase of 46.77%; The net profit attributable to the parent company was 608 million yuan, and the net profit attributable to the parent company after deduction was 574 million yuan, with a year-on-year increase of 32.82% and 43.17% respectively; The basic earnings per share is 1.46 yuan; The company’s profit distribution plan for 2021 is 4.5 yuan (including tax) for 10 dividends.
For the main reason for the performance growth, Cathay Biotech Inc(688065) said that the company’s main revenue came from the series of biological long-chain dicarboxylic acid products, and bio Based Polyamide began to contribute to the sales revenue. At the same time, focusing on the development goals set at the beginning of the year, the company actively organized the production of existing production lines and the commissioning and production of Wusu projects under construction. The project of Shanxi synthetic biology Industrial Park was steadily promoted, continuously strengthened the research and development of new products and applications, and achieved certain results.
Cathay Biotech Inc(688065) is a high-tech enterprise based on synthetic biology and other disciplines, using biological manufacturing technology to engage in the R & D, production and sales of new bio based materials. It is one of the leading enterprises using biological manufacturing to produce new materials on a large scale.
In terms of production capacity, in 2021, the production of long-chain dicarboxylic acid, the company’s core product, increased from 4390101 tons last year to 5944877 tons, with a year-on-year increase of 35.42%, achieved sales of 6147076 tons, and the capacity utilization rate increased from 58.53% to 79.27%. In terms of bio based polyamide, Cathay Biotech Inc(688065) achieved a breakthrough of “0 to 1”. Kaisai (ussu) production line with an annual output of 50000 tons of bio based glutamine and 100000 tons of bio based polyamide has been put into operation as scheduled at the end of the first half of 2021. It is the world’s first industrialization of bio based glutamine and the world’s first 10000 ton bio Based Polyamide production line. By the end of 2021, the company’s bio based polyamide products had developed more than 300 customers and began to form sales.
As the leading supplier of long-chain dicarboxylic acid in biological process in the world, Cathay Biotech Inc(688065) steadily promoted the production capacity layout, and Cathay Biotech Inc(688065) cooperated with the Management Committee of Shanxi transformation and comprehensive reform demonstration zone to jointly invest in and build “Shanxi synthetic biological industry ecological park” in Shanxi transformation and comprehensive reform demonstration zone. In January 2021, the projects with an annual output of 40000 tons of biological sebacic acid and 900000 tons of bio based polyamide in Shanxi synthetic biological industrial park were officially started. The 40000 tons / year biological sebacic acid project is planned to be put into trial operation in the first half of 2022. Other projects in Shanxi Industrial Park are also progressing steadily.
Cathay Biotech Inc(688065) while expanding production capacity, it actively extends to the downstream of the industrial chain to enhance the overall competitiveness of the company Cathay Biotech Inc(688065) continue to develop bio based long-chain polyamide, high-temperature polyamide, polyamide elastomer, agricultural waste, degradable materials and other projects, laying the foundation for further downstream application and business expansion.
Looking forward to 2022, Cathay Biotech Inc(688065) said that based on the bio manufacturing technology of biological long-chain dicarboxylic acid, bio amyl diamine and bio Based Polyamide functional materials accumulated by the company for many years, the company will further focus on the company’s three development strategies and implement the industrial planning objectives of bio based polyamide, seriously implement the fund-raising investment projects, and take this as the starting point to raise the company’s production scale and technical strength to a new level, Realize the great leap forward development of the company.
