Important
Notice
I The Board of Directors (the“Board”), the Board of Supervisors and directors, supervisors and senior management of the
Company hereby warrant the truthfulness, accuracy and completeness of the contents of this annual report (the“Report”), and
that there are no false representations, misleading statements or material omissions contained in the Report, and severally and
jointly accept responsibility.
II All directors of the company have attended the Board meeting.
III Grant Thornton (Special General Partnership) Issued a standard unqualified audit report for the Company.
IV Mr. Zhu Baoguo (朱 保 国), the person-in-charge of the Company, and Mr. Qiu Qingfeng (邱 庆 丰), the person-in-charge of
accounting work and the person-in-charge of the accounting department (the head of the accounting department) declare that
they hereby warrant the truthfulness, accuracy and completeness of the financial statements contained in the Report.
V Profit distribution plan or plan for conversion of capital reserve to share capital approved by the Board resolution during the
Reporting Period
Based on the audit conducted by Grant Thornton (Special General Partnership), the Parent Company generated net profit of
RMB 1,248,797,138.93, 10% of which was contributed to the statutory surplus reserve, namely RMB 124,879,713.89, the
remainder of which, together with undistributed profits from last year RMB 564,932,141.19, subtracting cash dividends from
last year RMB 288,675,388.05, is the current year Profits available for distribution to shareholders RMB 1,400,174,178.18.
The Company plans to distribute cash dividends for the fiscal year 2021, based on the total number of shares for dividend
distribution, which is defined by the total shares of Company, minus the shares in the Share Repurchase Account, on the equity
registration date designated by the annual profit distribution plan. The Company plans to distribute cash dividend of RMB 1.50
(tax inclusive) for every 10 shares of to all shareholders of the Company, and the remaining undistributed profits to be carried
forward to the following year.
VI Risk declaration for the forward-looking statements
√Applicable □N/A
The Report contains forward-looking statements which involve the future plans, development strategies, etc. of the Company,
yet do not constitute substantive undertakings of the Company to investors. Investors should exercise caution prior to making
investment decisions.
VII Whether there is non-operating use of funds by the controlling shareholder and their related parties
No
VIII Whether there is a violation of the prescribed decision-making procedures to provide external guarantees
No
IX Whether more than half of directors cannot warrant the truthfulness, accuracy and completeness of the Report disclosed by the
Company
No
X Significant risk warnings
There is no exceptionally significant risk that will have a material impact on the production and operation of the Company
during the Reporting Period. In this report, the Company has elaborated on the risks and countermeasures that the Company may
face in the course of production and operation, including industry policy risks, market risks, environmental risks, risk in price
and supply of raw materials, R&D risks, risk of the normalization of Covid-19 pandemic. For more information, please refer to
“Possible risks”part in Chapter III Management Discussion andAnalysis.
XI Others
□Applicable √N/A
XII The Report is prepared in both Chinese and English. In case of any ambiguity in the understanding of the Chinese and English
texts, the Chinese version shall prevail.
Tableof
Contents
Chairman's Statement ......3
Financial Highlights ......6
Chapter 1 Definitions ......8
Chapter 2 Company Profile and Major Financial Indicators ......10
Chapter 3 Management Discussion andAnalysis ......15
Chapter 4 Corporate Governance ......60
Chapter 5 Environmental and Social Responsibility ......85
Chapter 6 Major Events ......110
Chapter 7 Changes in Equity and Shareholders ......124
Chapter 8 Information on Preferred Shares ......130
Chapter 9 Information on Bonds ......131
Chapter 10 Financial Statements ......132
The Financial Statements signed and sealed by the person-in-charge of the Company, the person-in-charge of the
Company's accounting work and the person-in-charge of the accounting department (the head of the accounting
department)
List of filings The original document of the auditors’report sealed by the accounting firm and signed and sealed by the
certified public accountants.
The original copies of all documents and announcements of the Company which have been disclosed to the
public on the website designated by CSRC during the Reporting Period
Chairman's
Stateme
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