Tongguan copper foil ( Zhenjiang Dongfang Electric Heating Technology Co.Ltd(300217) ) released its 2021 annual report on April 19. During the reporting period, the company achieved an operating revenue of 4.082 billion yuan, a year-on-year increase of 65.92%; The net profit attributable to the shareholders of the listed company was 368 million yuan, a year-on-year increase of 412.46%; The net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses was 349 million yuan, a year-on-year increase of 507.88%; The basic earnings per share is 0.59 yuan / share. The company plans to distribute a cash dividend of 1.50 yuan (including tax) to all shareholders for every 10 shares.
The annual report shows that Tongguan copper foil is mainly engaged in the R & D, manufacturing and sales of various high-precision electronic copper foils. The main products are classified by application fields, including PCB copper foil and lithium battery copper foil. As of the disclosure date of the report, the company has a total capacity of 45000 tons / year of electronic copper foil products, including 25000 tons / year of PCB copper foil, 20000 tons / year of lithium battery copper foil and 10000 tons / year of PCB copper foil under construction. The company has established long-term cooperative relations with well-known enterprises in the industry in the field of PCB copper foil and lithium battery copper foil, and has obtained the supplier certification of these enterprises. The issuer’s customers in the field of PCB copper foil include Shengyi Technology Co.Ltd(600183) , Taiwan electronics technology, Taiwan optoelectronics, Nanya New Material Technology Co.Ltd(688519) and others, and customers in the field of lithium battery copper foil include Byd Company Limited(002594) , Contemporary Amperex Technology Co.Limited(300750) , Gotion High-Tech Co.Ltd(002074) .
In 2021, the company produced 41006 tons of copper foil, with a year-on-year increase of 14.91%, and sold 41064 tons of copper foil in the whole year, with a year-on-year increase of 16.04%. In 2021, the company’s operating cost was 34426821 million yuan, an increase of 53% over the same period, mainly due to the increase in product sales and cathode copper price; The total profit was 440399100 yuan, an increase of 422% over the same period, mainly due to the increase in sales and processing fees; The company continued to increase R & D investment, with a total R & D expenditure of 787721 million yuan, an increase of 62.27% over the same period; The net cash flow from operating activities was 1839576 million yuan, a significant increase over the same period last year, mainly due to the enhanced profitability of the enterprise and the good control of accounts receivable. The return on net assets of the company reached 19.44%, a year-on-year increase of 15.20 percentage points.
In 2022, according to the requirements of high-quality development, Tongguan copper foil will make full use of the industrial development dividends brought by national strategic plans such as “new infrastructure” and “carbon neutralization”, seize market opportunities, strengthen technological innovation, constantly improve product competitiveness and improve business efficiency. In this regard, the company will do the following work: first, speed up the construction of new projects. Ensure that the phase II project of Tongling Copper foil with an annual output of 20000 tons of high-precision electronic copper foil is put into operation; Use the over raised funds to help the development of the main business, accelerate the implementation of new project planning, and continuously improve the market share. Second, improve business efficiency. Seize the market opportunity of the rapid development of new energy industry and increase the sales proportion of high value-added products; Resolutely improve the yield of lithium foil products and improve the gross profit margin of products. Third, promote product upgrading. Closely combine the needs of downstream customers and strive to solve the key technologies restricting the improvement of indicators; Focus on the market demand of new energy vehicles, energy storage and 5g, strengthen the research and development of new products and technologies of copper foil, organize and carry out the technical research and development of rtf2 copper foil, hvlp2 copper foil, hvlp3 copper foil, the second generation of extremely thin electronic copper foil with high tensile strength and carrier copper foil, and strive to be a leader in the development of the industry. Fourth, strengthen risk prevention and control. Prevent accounts receivable risk, epidemic control risk and safety and environmental protection risk; Improve the risk prevention and control awareness of all employees, take multiple measures at the same time, improve the risk prevention and control ability of the company, and ensure the sustainable and healthy development of the company.
Tongguan copper foil said that the company implements the five development concepts of “innovation, coordination, green, openness and sharing”, takes high-quality development as the theme, deeply implements innovation driven development, serves the digital economy, thickly plants the electronic information industry, intensively cultivates the new energy industry, and makes every effort to become stronger, better and bigger. Strengthen technological innovation, promote product upgrading, optimize product structure, and increase the proportion of 5g copper foil, ultra-thin lithium battery foil and other high-end products; Promote the construction of new projects, make good use of the over raised funds and improve the market share.
