Baoding Lucky Innovative Materials Co.Ltd(300446)
Annual report for 2021
2022026
April 2022
Section I important tips, contents and definitions
The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee that the contents of the annual report are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities.
Zhang Yunfei, the person in charge of the company, Wang Kesai, the person in charge of accounting, and Hao Baoyun, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in this annual report.
All directors have attended the meeting of the board of directors to consider this report.
Any forward-looking statements involving future plans and performance forecasts in this report do not constitute the company’s substantive commitment to investors and related persons. Investors and related persons should maintain sufficient risk awareness and understand the differences between plans, forecasts and commitments.
1. There is delisting risk in the company’s shares.
In 2021, Shenzhen Stock Exchange implemented “delisting risk warning” for the company’s stock trading. For specific reasons and contents, see the relevant announcement (No. 2021027) published on the gem information disclosure website designated by the CSRC. The audited financial data of the company meet the basic conditions for revoking the delisting risk warning. After deliberation and approval at the 14th meeting of the 4th board of directors and the 11th meeting of the 4th board of supervisors, it is proposed to apply to Shenzhen stock exchange for revoking the “delisting risk warning” for the company’s stock trading. Whether the delisting risk warning of the company’s shares can be revoked still needs the examination and approval of Shenzhen Stock Exchange. If the company’s application to revoke the delisting risk warning is not approved by Shenzhen Stock Exchange, the listing and trading of the company’s shares will be terminated. Please pay attention to investment risks.
2. The company has the possibility of sustained losses.
On June 5, 2020, the company was on cninfo.com（ http://www.cn.info.com.cn. ）Disclosed the risk warning announcement on the shutdown of “thermal magnetic ticket production line” (Announcement No.: 2020045). In view of the company’s sufficient inventory of thermal magnetic ticket products and the cessation of customer demand, the company’s “thermal magnetic ticket production line” stopped production. In 2021, the company received some temporary orders from Shanghai Tieyin, a printing enterprise subordinate to China Railway Group, and signed a short-term contract with Shanghai Tieyin. However, there are still uncertainties about whether Shanghai Tieyin will continue to purchase the company’s thermal magnetic ticket products in the future and the purchase quantity. The implementation of EMV migration will lead to a downward trend in the demand for magnetic strips for bank cards and may affect the company’s future operating revenue; There is still uncertainty about whether the future operating revenue and profit predicted by lucky chemical can be realized. The company has the possibility of continuous loss. Please pay attention to the investment risk.
3. Risk that the future sales scale of new products is less than expected
Based on years of accumulated product R & D and production experience, the company introduced new products such as electromagnetic wave shielding film and pressure test film for FPC to the market, which has become one of the company’s main products; The company is developing new products such as ins process automotive interior film, photosensitive dry film, conductive adhesive film, antioxidant and light stabilizer to achieve phased progress. With the rapid development of the industry, the market competition is becoming increasingly fierce. There is a risk that the product sales price will decline, and the future sales scale and product profit will be less than expected.
4. Risk that the company’s new projects cannot be completed on schedule or reach production capacity.
In 2021, affected by covid-19 epidemic, the construction period of some equipment was extended, and some equipment commissioning personnel were unable to go to the site for commissioning due to epidemic control measures. The company comprehensively considered the subsequent equipment commissioning, commissioning and commissioning acceptance procedures of the project, which were considered and approved by the 12th meeting of the 4th board of directors and the 9th meeting of the 4th board of supervisors, Adjust the completion and operation time of “Rakai new electronic material R & D and industrial base (phase I) project” to September 30, 2022. The company is taking various measures to speed up the construction progress of the project and strive to complete and put into operation before September 30, 2022. The completion and operation of the project are affected by many factors such as project construction, equipment manufacturing and installation, equipment commissioning and relevant administrative approval. There is still uncertainty about whether the project can be completed and put into operation on schedule, and there are risks affecting the production.
In November 2021, lucky chemical has completed the relocation work, and the construction content of “lucky new rubber and plastic additives industrialization base project (phase I)” has been completed. All acceptance and filing procedures before trial production have been completed as required, and officially entered the trial production and operation stage. The production capacity release of the project is affected by many factors such as equipment commissioning, relevant testing and product process adjustment. If the production capacity of the project cannot be fully released on schedule, lucky chemical has the risk of insufficient production capacity, and its normal business activities will be affected.
5. There is uncertainty in the reorganization
The company, its controlling shareholders and actual controllers are planning to issue shares to purchase assets and raise supporting funds and related party transactions. The company plans to issue shares to purchase 100% shares of southern Sichuan Aerospace Energy Technology Co., Ltd. and Chengdu Aerospace Molding Co., Ltd., and raise supporting funds through non-public offering of shares to no more than 35 specific investors, including AVIC holdings. The company held the 13th meeting of the 4th board of directors and the 10th meeting of the 4th board of supervisors on February 18, 2022, deliberated and adopted the proposal on the company’s issuance of shares to purchase assets and raising supporting funds and related party transactions, and disclosed the relevant announcement on February 21, 2022. For details, see the relevant announcements (No. 2022005, No. 007, No. 009) published on the gem information disclosure website designated by the CSRC. Up to now, the asset audit and evaluation involved in the transaction have not been completed, and the value of the underlying assets and the number of shares issued have not been determined. The final transaction plan needs to be negotiated and determined by both parties, submitted to the relevant decision-making body of the company for approval and approved by relevant departments. There is still uncertainty whether the final plan of the transaction can be agreed and continuously promoted by both parties to the transaction, and whether the transaction can obtain the above approval and approval. Please pay attention to the relevant risks.
6. Risk of large fluctuation of share price
The production of “thermal magnetic ticket production line” has been stopped, which has seriously affected the production and operation activities of the company, and it is expected that it will not return to normal within three months. If the company’s stock touches other risk warnings (st), the company’s stock trading has been subject to other risk warnings since September 15, 2020. On April 28, 2021, the company disclosed the annual report and the announcement on the delisting risk warning and suspension of the company’s stock trading. In 2020, the company’s audited net profit before and after deducting non recurring profits and losses is negative, and the annual operating income after deducting business income unrelated to its main business is less than 100 million yuan. Shenzhen Stock Exchange implements “delisting risk warning” for the company’s stock trading.
For details, see the relevant announcements (No. 2020065 and No. 2021027) published on the gem information disclosure website designated by the CSRC.
After deliberation and approval at the 14th meeting of the 4th board of directors and the 11th meeting of the 4th board of supervisors, the company plans to apply to Shenzhen stock exchange for the cancellation of “delisting risk warning” and “other risk warning” for the company’s stock trading. Whether the delisting risk warning and other risk warnings of the company’s shares can be revoked still needs the examination and approval of Shenzhen Stock Exchange. The company’s shares have the risk of large fluctuation. Please pay attention to the investment risk.
The company plans not to distribute cash dividends, bonus shares or increase share capital with provident fund.
catalogue
Section I important tips, contents and definitions Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section IV corporate governance Section V environmental and social responsibility 66 section VI important matters Section VII changes in shares and shareholders 99 Section VIII preferred shares 106 section IX relevant information of bonds 107 section x financial report one hundred and eight
Directory of documents for future reference
1、 The original of the 2021 annual report signed by the legal representative of the company; 2、 Financial statements containing the signatures and seals of the company’s legal representative, the person in charge of accounting and the person in charge of the company’s accounting organization; 3、 The original audit report with the seal of the accounting firm and the signature and seal of the certified public accountant. 4. The originals of all company documents and announcements publicly disclosed on the website designated by the CSRC during the reporting period; The location of the above documents for reference: the office of the board of directors of the company.
interpretation
Explanatory item refers to the explanatory content
Company / the company / lucky new material refers to Baoding Lucky Innovative Materials Co.Ltd(300446)
Lucky magnetic information refers to Baoding lucky magnetic information materials Co., Ltd
Sichuan lucky refers to Sichuan lucky New Material Co., Ltd., a wholly-owned subsidiary of the company
Lucky chemical refers to Baoding lucky Chemical Co., Ltd., a holding subsidiary of the company
Cangzhou lucky refers to lucky chemical materials Co., Ltd., a wholly-owned subsidiary of lucky chemical
Lucky company / controlling shareholder refers to China Lucky Group Co., Ltd
Aerospace Group / actual controller refers to China Aerospace Hi-Tech Holding Group Co.Ltd(000901) Group Co., Ltd
Lucky Film Company Limited(600135) Co., Ltd., another listed company controlled by lucky group, the controlling shareholder of the company Lucky Film Company Limited(600135) refers to
company
Sichuan Airlines Group refers to Sichuan Aerospace Industry Group Co., Ltd
South Sichuan initiating explosive technology refers to Sichuan Aerospace South Sichuan Initiating Explosive Technology Co., Ltd
Aerospace molding refers to Chengdu Aerospace Molding Co., Ltd
South Sichuan energy refers to South Sichuan Aerospace Energy Technology Co., Ltd
AVIC holding refers to aerospace Investment Holding Co., Ltd
CSRC / CSRC refers to the China Securities Regulatory Commission
Exchange / Shenzhen stock exchange refers to Shenzhen Stock Exchange
Company Law refers to the company law of the people’s Republic of China
The articles of association refers to the articles of association of Baoding Lucky Innovative Materials Co.Ltd(300446) company
General meeting of shareholders refers to the general meeting of Baoding Lucky Innovative Materials Co.Ltd(300446) shareholders
Board of directors refers to Baoding Lucky Innovative Materials Co.Ltd(300446) board of directors
Board of supervisors refers to Baoding Lucky Innovative Materials Co.Ltd(300446) board of supervisors
The reporting period refers to the period from January 1, 2021 to December 31, 2021
The same period of last year refers to the period from January 1, 2020 to December 31, 2020
Yuan and 10000 yuan refer to RMB yuan and 10000 yuan
FPC refers to flexible printed circuit, the English abbreviation of flexible printed circuit board and flexible circuit board
PCB refers to printed circuit board, the English abbreviation of printed circuit board and printed circuit board
Ins refers to film insert molding, also known as insert injection molding process
Baoding Lucky Innovative Materials Co.Ltd(300446) IPO and listing on GEM
