Financial final account report of 2021 and financial budget report of 2022
Part I financial statement report of 2021
1、 Completion of major economic indicators in the whole year
The company's total operating revenue this year was 4.404 billion yuan, an increase of 80.41% over 2.441 billion yuan last year;
The total accumulated profit was 128649 million yuan, an increase of 296.06% over 324.82 million yuan in the previous year; Realize belonging
The net profit attributable to the shareholders of the parent company was 965.66 million yuan, an increase of 270.45% over the previous year's 260.68 million yuan.
This year's cumulative fiber production was 58758 tons, up 4.66% year-on-year from 56143 tons in the previous year; Cumulative sales
The sales volume was 57346 tons, a year-on-year decrease of 3.28% over 59289 tons of the previous year; The inventory is 6700 tons, up from the beginning of the year
26.72% liters.
Attached table 1: main business indicators in 2021
Unit: 10000 yuan
The cumulative increase or decrease amount of the project in the same period of the previous year in the current year, increase or decrease range%
Operating income 440401252441165319628472 80.41
Total profit 1286490732482259616682 296.06
Net profit attributable to owners of parent company 965658726067517049836 270.45
Basic earnings per share 1.41 0.41 1.00 243.90
2、 Analysis of changes in economic benefits
1. In 2021, the operating revenue increased by 196285 million yuan, an increase of 80.41% year-on-year. Increase in operating income
The main benefit is the increase in the price of spandex and the increase in the sales volume of aramid. The main business income of spandex is 2.82 billion yuan,
Up 88.45% year on year; The main business income of aramid fiber was 1.57 billion yuan, a year-on-year increase of 67.94%, mainly due to
The new project was put into operation, and the sales volume of aramid fiber increased significantly.
2. In 2021, the operating cost increased by 890 million yuan, a year-on-year increase of 47.52%, mainly due to the price of raw materials
It was caused by the rise of lattice and the increase of aramid fiber sales.
3. Taxes and surcharges increased by 21.71% year-on-year, mainly due to the increase of 2.44 million yuan in Ningxia Ningdong Taihe in the current period.
4. The sales expenses increased by 13.68 million yuan, a year-on-year increase of 26.52%, mainly due to the increase of 431% in sales commission this year
Million yuan, and the quality compensation increased by 2.19 million yuan.
5. The management expenses increased by 46.12 million yuan, up 44.42%, mainly due to the achievement of performance objectives and the provision exceeding the target
The amount of profit reward increased by 28.98 million yuan. The depreciation of idle fixed assets increased by 7.83 million yuan this year.
6. R & D expenses increased by 76.64 million yuan, up 65.78%, mainly for the development of new products and
High product performance and increased R & D investment.
7. The financial expenses increased by 23.49 million yuan, and the increase in interest expenses was mainly due to the increase in interest expenses of 43.24 million yuan
The interest income increased by 21.94 million yuan.
8. The asset impairment loss increased by 12.72 million yuan, mainly due to the decline in the order price of Spandex Products at the end of the period and the increase in the provision for inventory falling price at the end of the period.
9. The investment income decreased by 15.25 million yuan, or 65.96%, mainly due to the company's recognition of private investment in the previous year
The investment cost of minstar is less than the income from the fair value of minstar's identifiable net assets of 14.75 million yuan.
The above factors jointly affected the total profit by 96.167 million yuan, an increase of 296.06%.
3、 Analysis of financial status of assets
Attached Table II: comparison of main balance sheet items in 2021
Unit: 10000 yuan
Increase or decrease of project amount at the end of 2021 and 2020 (%)
Current assets 448276863423158610596100 30.95
Non current assets 36492324281041278388197 29.85
Current liabilities 19428629141803085248321 37.01
Non current liabilities 1631848190928327225649 79.47
Shareholders' equity 45572899390625736510326 16.67
Total assets 813200106233571318984297 30.45
（1） Analysis of changes in asset items
By the end of 2021, Yantai Tayho Advanced Materials Co.Ltd(002254) total assets were 8.132 billion yuan, up 30.45% year-on-year, including:
Movable assets amounted to 4.483 billion yuan, accounting for 55% of the total assets, with an increase of 30.95% over the beginning of the year; Non current assets 36.49
Billion yuan, accounting for 45% of the total assets, an increase of 29.85% over the beginning of the year.
Total liabilities amounted to 3.575 billion yuan, including current liabilities of 1.943 billion yuan, accounting for 54% of total liabilities, an increase of 37.01% over the beginning of the year; Non current liabilities
1.632 billion yuan, accounting for 46% of the total liabilities; The asset liability ratio at the end of the period was 43.96%, an increase of 6.62 percentage points over the beginning of the year
Percentage points; The net assets at the end of the period were 4.557 billion yuan. The asset structure shows that the company has strictly controlled the operating risks and the financial structure is reasonable.
1. Current assets were 4.483 billion yuan, up 30.95% year-on-year
The company's monetary capital and notes receivable totaled 2.986 billion yuan, an increase of 264 million yuan over the beginning of the year; Transactional
Financial assets (structured deposits) were 513 million yuan, an increase of 513 million yuan over the beginning of the year; The available funds of the company are relatively sufficient.
Accounts receivable increased by 56 million yuan over the beginning of the year, up 81.46%, mainly due to the company's current operating income
The turnover days of accounts receivable in the whole year were 13 days.
2. Non current assets amounted to 3.649 billion yuan, up 29.85% year-on-year
Fixed assets increased by 360 million yuan compared with the beginning of the period, mainly due to the high-performance meta aramid high-efficiency collection for protection in this period
A total of 337 million yuan was transferred into industrialization projects.
The projects under construction increased by 406 million yuan compared with the beginning of the period, mainly green differentiated spandex intelligent manufacturing projects
Increased investment.
（2） Analysis of changes in liability items
Current liabilities were 1.943 billion yuan, up 37.01% year-on-year
Notes payable increased by 95 million yuan, mainly due to the increase of bank acceptance bill issued by Ningxia Ningdong Taihe company and the payment of raw materials in the current period.
Accounts payable increased by 220 million yuan compared with the beginning of the period, mainly due to the investment progress of the current project and the impact of the accounting period
Increase in project funds payable at the end of the year.
Non current liabilities due within one year increased by 74 million yuan compared with the beginning of the period, mainly long-term liabilities due within one year
Increase in loan principal and interest.
4、 Cash flow analysis
Attached table III: summary of cash flow in 2021
Unit: 10000 yuan
Increase / decrease ratio of the project from 2021 to 2020
Net cash flow from operating activities 84495755511344 53.31%
Net cash flow from investing activities -11338835 -876.621283472%
Net cash flow from financing activities 213012610146402 - 79.01%
Net increase in cash and equivalents -80933815526188 -105.21%
Ending cash balance 2348383624293174 - 3.33%
In 2021, the net cash flow from operating activities increased by 53.31% year-on-year, mainly due to the current operating income
With the increase of income, the cash received from the sale of goods increased by 1.077 billion and the cash paid for the purchase of goods increased by 517 million yuan.
In 2021, the net cash flow from investment activities decreased by 1.125 billion yuan year-on-year, and the cash flow from investment activities increased
The inflow decreased by 10.16% year-on-year, and the cash outflow from investment activities increased by 35.51% year-on-year. Among them, the net cash inflow from the purchase of structural deposits in the current period decreased by 772 million yuan compared with the previous year, and the net cash outflow from the purchase and construction of fixed assets increased by 505 million yuan, mainly due to the increase of investment payments for engineering projects in the current period.
In 2021, the net cash flow from financing activities decreased by 79.01% year-on-year, and the cash inflow from financing activities increased
The year-on-year increase was 37.1%, mainly due to the increase of 888 million yuan in loans obtained in the current period. The cash outflow from financing activities increased by 869.4% year-on-year, mainly due to the increase of 694 million yuan in cash paid for loan repayment and 535 million yuan in cash paid for dividend, profit or interest payment.
Part II financial budget report of 2022
Special note: the 2022 budget index is only used as the internal management control reference of the company's annual business objectives
The index does not represent the company's profit forecast in 2022. Whether it can be realized depends on many factors, such as the macroeconomic environment, changes in market conditions, industry development and the efforts of the management team. There is great uncertainty. Investors should pay attention to risks.
On the basis of summarizing the business situation in 2021, the company analyzes the business situation in 2022, combined with the company's war
After discussion and research, the financial budget report for 2022 is prepared, with the main contents as follows:
1、 Operating budget for 2022
The operating budget for 2022 is: the operating income (excluding tax) is 5-5.5 billion yuan.
2、 Investment budget for 2022
The total investment budget in 2022 is 3.2 billion yuan, including fixed asset investment of about 2.08 billion yuan and equity investment
About 1.12 billion yuan.
3、 2022 bank financing budget
According to the needs of the company's production and operation and future investment and development business, the company and its holding subsidiaries in 2022
It is planned to apply to the bank for a total financing credit line of 11 billion yuan, which is mainly used to supplement working capital and repay due bank loans. According to the calculation of the company's financial department, applying for the above financing credit line will not significantly increase the company's debt ratio, and the company's asset liability ratio will be controlled at a reasonable level.
The above bank credit line application shall be subject to the final credit line of each bank. Within the scope of the total credit line, the chairman is authorized to appropriately adjust and allocate the inter-bank credit line within the total credit line.
4、 External guarantee budget in 2022
According to the company's 2022 business plan, the company's subsidiaries are expected to have financing needs in the next year
The practices and requirements of commercial banks require the company to provide guarantee for the financing behavior of subsidiaries. In order to improve the company's financing efficiency, the company (including the company's holding subsidiaries) plans to provide financing guarantees with a total amount of no more than 3.341 billion yuan to the holding company in 2022.
Among them, the company (parent company) plans to provide the following guarantee limits:
Guaranteed
