China Resources Chemical Innovative Materials Co.Ltd(301090)
Financial statement report of 2021
China Resources Chemical Innovative Materials Co.Ltd(301090) (hereinafter referred to as “the company”) has audited the 2021 financial statements by Tianzhi International Certified Public Accountants (special general partnership), which issued an unqualified audit report of tianshiye Zi [2022] No. 4343. The audited financial statements are prepared in accordance with the accounting standards for business enterprises in all major aspects and fairly reflect the company’s financial position, operating results and cash flow in 2021. In order to have a more comprehensive and detailed understanding of the company’s financial situation and operation in 2021, the financial statements of 2021 are reported as follows:
1、 Changes in main accounting data and financial indicators
Unit: Yuan
Change ratio of the project from 2021 to 2020
Operating income 12585275004401238040628185 1.65%
Total profit 6202711602582315097170 – 24.65%
Net profit 4822536031462898116585 – 23.33%
Net profit attributable to shareholders of the parent company 4822536031462898116585 – 23.33%
Amount of non recurring profit and loss 77056214984870502799 58.21%
Deduction attributable to shareholders of the parent company
Net profit of recurring profit and loss 4051973881658027613786 – 30.17%
Net cash flow from operating activities 65249450263108988134816 – 40.13%
Total assets 898503764050590760799802 52.09%
Total shareholders’ equity attributable to the parent company 617710592982342463849955 80.37%
Basic earnings per share 0.3725 0.5051 – 26.25%
2、 Financial status, operating results and cash flow
(I) assets, liabilities and net assets
Unit: Yuan
Change ratio of the project from December 31, 2021 to December 31, 2020
Monetary capital 1596687501931255 Jiangsu Jiuwu Hi-Tech Co.Ltd(300631) 83 27.20%
Trading financial assets 37138175291 —
Derivative financial assets – 2792471000-
Notes receivable 121017521977187347 – 87.62%
Accounts receivable 7594479307535036529098 116.76%
Receivables financing 1652365044966335420 70.99%
Prepayment 2492733529314909290710 67.19%
Other receivables 22232565782222181872 0.05%
Inventory 151901558116176251299450 – 13.82%
Other current assets 17505617297612642094697128471%
Fixed assets 228051717424125592046613 81.58%
Construction in progress 295731409457718875864 – 94.88%
Use right assets 3129251326 —
Intangible assets 2392681629524404063828 – 1.96%
Development expenditure 171597510 —
Long term deferred expenses 15586792181295312663 20.33%
Deferred income tax assets 752898298593078267 26.95%
Other non current assets 93220657989829969790 – 5.17%
Total assets 898503764050590760799802 52.09%
(1) Monetary capital: the ending balance increased by 27.2% year-on-year, mainly due to the arrival of funds raised by the company’s initial public offering in the current period;
(2) Trading financial assets: the ending balance increased year-on-year, mainly due to the purchase of bank financial products in the current period;
(3) Derivative financial assets: the ending balance decreased year-on-year, mainly due to the loss of futures positions at the end of the period; (4) The year-end balance of bank acceptance bills decreased by 62.87% year-on-year;
(5) Accounts receivable: the ending balance increased by 116.76% year-on-year, mainly due to the increase of export sales volume and sales unit price in the current period;
(6) Financing of receivables: the ending balance increased by 70.99% year-on-year, mainly due to the reclassification of bank acceptance bills in the current period;
(7) Prepayment: the ending balance increased by 67.19% year-on-year, mainly due to the rise in the price of raw materials in the current period; (8) Other current assets: the ending balance increased by 128471% year-on-year, mainly due to the purchase of bank certificates of deposit in the current period;
(9) Fixed assets: the ending balance increased by 81.58% year-on-year, mainly due to the transfer of fixed assets from Zhuhai phase III 500000 ton polyester project, Zhuhai PETG phase I project, PTA warehouse and R & D building project in this period; (10) Construction in progress: the ending balance decreased by 94.88% year-on-year, mainly due to the transfer into fixed assets of Zhuhai phase III 500000 ton polyester project, Zhuhai PETG phase I project, PTA warehouse and R & D building project in this period; (11) Right to use assets: the ending balance increased year-on-year, mainly due to the implementation of the new lease standard for the first time in the current period;
(12) Development expenditure: the ending balance increased year-on-year, mainly due to the capitalization of R & D projects.
2. Composition and changes of liabilities
Unit: Yuan
Change ratio of the project from December 31, 2021 to December 31, 2020
Derivative financial liabilities 477071000 —
Notes payable 12249677996870907801211 72.76%
Accounts payable 4782651115349821751462 – 4.00%
Contract liabilities: 119653148%
Payroll payable 73526740948919175775 – 17.56%
Tax payable 35981067143037965501 18.44%
Other payables 2533883918813664182218 85.44%
Non current liabilities due within one year 857929432 —
Other current liabilities 1906346514551031 31.01%
Long term loan – 7290070904-
Lease liabilities 2006580071 —
Deferred income 2439500315727522671189 – 11.36%
Deferred income tax liabilities 18041761831998928926 – 9.74%
Total liabilities 280793171068248296949847 13.09%
(1) Derivative financial liabilities: the ending balance increased year-on-year, mainly due to
