Company code: China Hainan Rubber Industry Group Co.Ltd(601118) company abbreviation: China Hainan Rubber Industry Group Co.Ltd(601118) China Hainan Rubber Industry Group Co.Ltd(601118)
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.
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. All directors of the company attended the board meeting. 3. Zhongshen Zhonghuan Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 4. 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 capital status of the group and the relevant provisions of the CSRC on dividends of listed companies, it is proposed to distribute RMB cash dividends of 0.106 yuan (including tax) to all shareholders for every 10 shares based on the total share capital of the group at the end of 2021, with a total distributed profit of 4536193465 yuan, and the remaining undistributed profit of 63631131109 yuan carried forward for distribution in the next year. There will be no share distribution or share capital increase this time.
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 Hainan Rubber Industry Group Co.Ltd(601118) China Hainan Rubber Industry Group Co.Ltd(601118) none
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Lin Fengyuan, Liu Zhiheng
Office address: Fortune Plaza, No. 103 Binhai Avenue, Haikou City, Hainan Province Fortune Plaza, No. 103 Binhai Avenue, Haikou City, Hainan Province
Tel: 089831669317
E-mail [email protected]. [email protected].
2. Introduction to the company's main business in the reporting period
(I) natural rubber production increased steadily
According to ANRPC (Association of natural rubber producing countries), the global natural rubber output in 2021 was about 13.812 million tons, a year-on-year increase of 1.6%. The main reasons are: in the first half of the year, the phenological conditions in the main production areas were good, the rubber plantation was opened and cut ahead of time, the production capacity was effectively released, and the output increased by 6.8% year-on-year; In the second half of the year, affected by La Nina climate, the domestic production of major producers in Thailand and Vietnam decreased, and the output decreased by 3.7% year-on-year in December.
From the perspective of major producing countries, in 2021, the natural rubber output of Thailand, Indonesia, Vietnam, China and India was about 4.673 million tons, 3.212 million tons, 1.203 million tons, 851000 tons and 79000 tons respectively. Among them, Indonesia, China and India increased by 2.8%, 22.9% and 15.3% year-on-year; Thailand and Vietnam fell by 3.9% and 1.9% year-on-year. The main reasons for the decline are: Thailand, Vietnam and other countries were disturbed by heavy rainfall, serious flood disasters and impact on production.
Source: ANRPC (Association of natural rubber producing countries)
Figure 1 global natural rubber production from 2011 to 2021
(II) rapid recovery of natural rubber consumption
According to ANRPC (Association of natural rubber producing countries), the global consumption of natural rubber in 2021 was about 14.079 million tons, an increase of 8.7% year-on-year. The main reasons are: covid-19 vaccine has been launched in the world. As the world's largest natural rubber consumer, China has made important phased achievements in epidemic prevention and control, the resumption of work and production of enterprises has accelerated, and the travel of residents and cargo transportation have increased significantly, The demand for natural rubber has ushered in restorative growth. Taking rubber tire export as an example, China's rubber tire export volume in 2021 was 7.3 million tons, with a year-on-year increase of 16.2%.
From the perspective of major consumer countries, in 2021, the consumption of natural rubber in China, India, Thailand, Indonesia and Malaysia was about 5.949 million tons, 1.24 million tons, 662000 tons, 615000 tons and 528000 tons respectively. Among them, China, India and Indonesia increased by 5.4%, 19.2% and 2.8% year-on-year; Thailand and Malaysia decreased by 4.3% and 2.8% year-on-year. The main reasons for the decline: in the second quarter, affected by the covid-19 virus variant strain, Thailand and Malaysia took "comprehensive blockade" measures, and logistics and transportation were impacted.
Source: ANRPC (Association of natural rubber producing countries)
Figure 2 global natural rubber consumption from 2011 to 2021
(III) natural rubber inventory decreased significantly
In 2021, restricted by factors such as high sea freight and unstable cargo supply caused by container shortage, many enterprises chose to purchase the stock spot in the domestic market, and the inventory of natural rubber continued to decrease. According to the statistics of Longzhong information, by the end of December 2021, the total inventory of natural rubber in China was about 1.08 million tons, a year-on-year decrease of 30.8%, of which the inventory in Qingdao was about 290000 tons, a year-on-year decrease of 60.9%, and the inventory of natural rubber was accelerated.
(IV) natural rubber prices fluctuated widely
In the first half of the year, the macro-economy improved, the downstream resumed work actively, and Thailand gradually entered the cut-off period. With the advent of the global low production season, the rubber price soared strongly. The main contract of Tianjiao in the previous period reached a peak of 17335 points on February 25. However, with the rebound of the epidemic in Europe and Southeast Asia, some national blockade measures were tightened again, the fundamentals weakened, and the profit-making funds gradually left the market, falling below 13000 points in June.
In the second half of the year, covid-19 epidemic made the short-distance freight from Southeast Asia to China increase continuously, and the arrival volume was less than expected, which supported the recovery of rubber price. However, the downstream demand was relatively weak, which suppressed the rise of rubber price, and speculative capital played games repeatedly, resulting in the fluctuation of rubber price within a certain range, presenting a "wave" market.
Data source: qinrex
Figure 3 closing price trend of Tianjiao main contract of the exchange in the previous period in 2021
The company is a large comprehensive enterprise group integrating natural rubber R & D, planting, processing, rubber wood processing and sales, trade, finance, warehousing and logistics, e-commerce and modern agriculture. It takes the sales of primary processed products of natural rubber as the main source of income. (I) main business and products
1. Natural rubber business
(1) Rubber planting
The company has 3.41 million mu rubber parks and 25 rubber base branches, with an annual dry rubber production capacity of 150000 tons, and has built 2 million mu core rubber parks and 200000 Mu military rubber parks. It is one of the few enterprises with large-scale rubber parks outside China. It undertakes the important task of building China's natural rubber reserves. It is an important guarantor of the safety of national strategic materials and has been strongly supported by national policies. (2) Rubber processing
The company has 20 rubber processing plants, including 10 in Hainan Island, 8 under Yunnan Haijiao and 2 under Singapore R1 company. The initial processing capacity is about 500000 tons, including 250000 tons of concentrated milk. All China rubber processing branches have passed the ISO9001 quality management system certification. The company's primary products include full latex, concentrated latex, 10, 20 standard glue, 10 meridian glue, clear glue, mixed glue, cigarette glue, etc., and has the ability to produce high-quality products such as special glue and professional glue on a large scale. With well-known brands such as Baodao and Meilian, the company is the largest manufacturer of green latex such as ammonia free and low ammonia concentrated latex in China.
(3) Rubber wood processing
The forest products group, the holding subsidiary of the company, has completed the certification of timber production and marketing supervision chain and obtained the fsc-coc certificate. It has seven branches (subsidiaries) and can process 50000 cubic meters of rubber wood square timber, 10000 cubic meters of biopolymer modified timber and 10000 cubic meters of laminated timber every year. The product marketing network covers China's large furniture manufacturing distribution centers in South China, East China and southwest China. Its main products include "oak forest brand" traditional wood products, "Salinger" wooden house, "baochuanmu" outdoor wood products, etc., and make every effort to build "baooak" brand.
(4) Rubber sales
Relying on Shanghai Longxiang and Singapore R1 company, the company has established resource procurement channels in the main production areas of natural rubber in the world, built a sales network covering the main sales areas of natural rubber in China and major European and American countries, and maintained long-term cooperation with dozens of well-known tire and product enterprises at home and abroad.
(5) Rubber technology R & D
The company has been at the forefront of the industry in the research and development of Applied Science and technology such as intelligent rubber cutting, smart rubber Park, automatic processing, environmental friendly natural rubber processing technology and military high-end rubber. It has developed advanced products such as nano clay rubber, domestic aviation tire rubber, special thick emulsion for military meteorological balloon, high elastic shock absorber rubber and ammonia free latex, filling the gap in relevant fields in China.
2. Other business
(1) Warehousing and logistics business
For the purpose of serving the rubber industry, it has the qualification of No. 20 rubber bonded delivery warehouse of Shanghai Futures Exchange and the qualification of white sugar delivery warehouse of Zhengzhou Commodity Exchange. The company has completed the layout of logistics nodes in rubber production and marketing hub cities such as Hainan, Yunnan and Shandong, and is committed to the national layout in order to provide customers with multi-level and multi link combined logistics services.
(2) Agricultural materials business
It is mainly engaged in pesticide wholesale, fertilizer sales, agricultural technology services and agricultural materials logistics distribution, and establishes an agricultural materials guarantee system for rubber plantation production and agricultural development in Hainan.
(II) main business models
1. Natural rubber business
In Hainan Island, the company's subordinate base branches carry out planting and other operations on the basis of rubber plantation renewal, fallen trees and land preparation in accordance with the technical specifications for rubber cultivation and production. According to the planting density per mu, they are divided into wide row and dense plant and wide and narrow row planting. In the rubber cutting season, the collected fresh latex will be handed over to the company's local processing plant, which will produce and sell it after processing according to the rubber product processing process.
In Yunnan, local suppliers (rubber farmers and middlemen) transport the collected natural rubber raw materials (fresh latex, rubber pellets, etc.) to the company's local processing plant. The processing plant produces and sells them through the process flow according to the raw materials and customer orders.
2. Rubber wood processing business
The forest products group obtains logs through bidding and other means, and then transports the logs to the wood processing plant subordinate to the company. The factory produces and processes the logs according to the processing process of rubber wood products, and then sells them to the outside world. 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
Compared with the previous year
20212020 2019
Increase or decrease (%)
Total assets 19481004987521773672499711 9.831682987929846
Belonging to
The company shares in the city are 959333013351, 977618050219 -1.87, and the net assets of 973276586893 East
Operating income 153327483582 Ping An Bank Co.Ltd(000001) 574320458580000 -2.611380289023286
Deduct business irrelevant to main business
Income and not 15050588344570 Wasu Media Holding Co.Ltd(000156) 51879921750000 -3.84
The operating income after the income with commercial substance belongs to the
The net profit of the municipal company shares 150763920247111869148 111.9913514529596 belongs to the listed company shares
East deduction - 232,
