Securities code: Yantai Tayho Advanced Materials Co.Ltd(002254) securities abbreviation: Yantai Tayho Advanced Materials Co.Ltd(002254) Announcement No.: 2022017 Yantai Tayho Advanced Materials Co.Ltd(002254) 2021 annual report summary
1、 Important note: 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 carefully read the full text of the annual report in the media designated by the CSRC. All directors have attended the meeting of the board of directors to consider this report. Tips on non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of common shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no
The company's profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 684394502 as the base, distribute cash dividends of 5.00 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 shares (including tax), and do not use the accumulation fund to increase the share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Yantai Tayho Advanced Materials Co.Ltd(002254) stock code Yantai Tayho Advanced Materials Co.Ltd(002254)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Dong Xuhai, Liu Jianning
Office address: No. 10, Heilongjiang Road, Yantai Economic and Technological Development Zone, No. 10, Heilongjiang Road, Yantai Economic and Technological Development Zone
Fax: 05356394123
Tel: 05356394123
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
The company specializes in the R & D, production and sales of spandex, aramid and other high-performance fibers. The leading products are spandex, meta aramid, para aramid and their upstream and downstream products.
(I) spandex business
The company is the first spandex production enterprise in China. At present, its production capacity ranks among the top five in China, distributed in Yantai and Ningxia. Neustad ® Spandex is mainly used in the textile field and medical and health field to increase the elasticity of fabrics. It has been widely used in the textile field. With people's pursuit of fashion trend and comfort and the upgrading of consumption concept, the overall market demand is increasing; At the same time, the consumption of epidemic prevention materials has increased significantly in the past two years. The addition of spandex in masks and protective clothing has brought a new increase in spandex demand.
1. Main uses and products
Product features and uses
Newstar ® Spandex has the characteristics of high elongation and high resilience. It is widely used in clothing, underwear, medical bandages, masks, diapers and other industrial textiles, which can meet the requirements of beauty and comfort.
2. Upstream and downstream industrial chain
3. Product process flow
4. Development of spandex business during the reporting period
During the reporting period, the spandex business of the company developed well.
In the face of the demand growth brought about by the post epidemic era, the company focused on stabilizing production and ensuring supply, coordinated the production lines of Yantai and Ningxia bases, and put into full production to ensure market supply, resulting in a significant increase in economic benefits; At the same time, focusing on the long-term development of the enterprise, we have orderly promoted the construction of new production capacity and the replacement of old production capacity, which has laid a foundation for maintaining the competitiveness of spandex business.
(II) aramid business
The company is the first aramid production enterprise in China, and the aramid business is also the industrial direction of the company's current and future key development. The main products include taimeida ® Meta aramid, minstar ® Aramid paper and Teflon ® Para aramid and its further processed products. At the end of 2021, the company's total nominal capacity was 15000 tons, ranking third in the world.
1. Main uses and products
Product features and uses
Tametar ® Meta aramid fiber has the characteristics of flame retardant and high temperature resistance. It is widely used in personal protection, environmental protection and other fields.
Minstar ® Aramid paper has the characteristics of insulation and high strength. It is widely used in aviation, rail transit, electrical insulation, new energy and other fields.
Tepron ® Para aramid and its products have the characteristics of high strength and high modulus, and are widely used in optical cable, automobile, safety protection and other fields.
2. Upstream and downstream industrial chain
3. Product process flow
4. Aramid business development during the reporting period
During the reporting period, the aramid business of the company developed well. In terms of intermediate aramid fiber, the company focuses on ensuring the supply of high-end fields such as protection and appropriately reducing the sales volume of low-end fields; In terms of para aramid fiber, we focus on outdoor optical cable, composite materials and other fields, and continue to expand market share. At the same time, we will start non-public offering of shares to raise funds, accelerate the development of aramid business, and lay a production capacity foundation for enhancing international competitiveness.
(III) main business models
The company's business model is mainly divided into procurement model, production model, sales model and profit model. The details are as follows:
1. Procurement mode
The company now has perfect procurement control procedures. The relevant systems of procurement control procedures include quality manual, procurement material standard, bidding control procedure, contract management measures, nonconforming product control procedure, incoming sampling regulations of raw materials and materials, etc. The company will sign an annual purchase agreement with major suppliers in the industry such as BASF and Wanhua Chemical Group Co.Ltd(600309) for the main raw materials required for production, and determine the purchase quantity of main raw materials and negotiate and negotiate the relevant purchase price according to the market situation every month. During the reporting period, the company has a stable supply channel of raw materials and established a long-term and stable cooperative relationship with leading suppliers in the industry.
For other auxiliary materials, the company purchases them monthly by means of bidding and price comparison on the third-party online platform; For engineering materials, the company purchases them through public bidding, bid negotiation and other means. 2. Production mode
The company implements the production organization mode of setting production by sales, and organizes production and procurement based on the internal orders issued by the sales company and the corresponding delivery time.
3. Sales model
During the reporting period, in the Chinese market, the company's Spandex product sales adopted the compound sales mode of distribution and direct sales; Aramid products are mainly sold through direct selling. The company adopts the sales mode of distribution, agency and direct sales for its aramid and spandex products in the foreign market.
4. Profit model
The company is the first spandex production enterprise in China and the pioneer and leader of China's aramid industry. Its spandex and aramid production capacity ranks in the forefront of the world. After long-term operation, the company has established a complete R & D and production system, established a relatively complete product application and promotion industrial chain in relevant fields at home and abroad, and has a relatively sound marketing network in the industry.
During the reporting period, the company's revenue source was mainly through the sale of its own leading product to customers: Newstar ® Spandex, temec ® Meta aramid, tapron ® Para aramid and its upstream and downstream products.
There was no significant change in the company's main products and business model during the reporting period. 3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 8132 Shanxi Blue Flame Holding Company Limited(000968) 49623357131883 30.45% 446117137126
Net assets attributable to shareholders of listed companies 396174787038346402865859 14.37% 250155596002
20212020 year-on-year increase or decrease 2019
Operating income 440401246244244116534018 80.41% 253478206091
Net profit attributable to shareholders of listed company 9656586973226067511495 270.45% 2349954991
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 85133489915, 19689717077, 332.38% and 16385510181
Net cash flow from operating activities 8449575328555113435957 53.31% 28702014708
Basic earnings per share (yuan / share) 1.41 0.41 243.90% 0.38
Diluted earnings per share (yuan / share) 1.41 0.41 243.90% 0.38
Weighted average return on net assets 26.29%, 9.31%, 16.98%, 9.82 percentage points
(2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 95467416132117112116021115594754079112226960012
Net profit attributable to shareholders of listed company 1770123400626337220180290879464752343949071
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 17227967531, 25754213163, 27608415783 and 14542893438
Net cash flow from operating activities 24548411299232212944191411334569522612701872
Whether the above financial indicators or their total amount are significantly different from the financial indicators related to the quarterly report and semi annual report disclosed by the company √ yes □ no
In the first quarter of 2021, 175.4 million yuan of government relocation compensation was received, which was classified as "other cash received related to operating activities" according to government subsidies when accountants prepared the cash flow statement; When preparing the semi annual report in 2021, the company adjusted the above amount into the "net cash received from the disposal of fixed assets, intangible assets and other long-term assets" according to the opinions of the annual audit accountant. The adjustment only affected the "net cash flow from operating activities" and "net cash flow from investing activities" of the company in the first quarter of 2021, There is no impact on the amount of each subject in the semi annual report of 2021 and the cash flow statement prepared later.
4. Share capital and shareholders (1) number of ordinary shareholders and preferred shareholders with voting rights restored and shareholding of the top 10 shareholders
