Financial Performance - The company's operating revenue for 2022 was ¥4,560,114,814.45, representing a 32.62% increase compared to ¥3,438,539,047.58 in 2021[22] - The net profit attributable to shareholders decreased by 39.59% to ¥103,691,001.03 from ¥171,634,188.69 in the previous year[22] - The basic earnings per share fell by 39.82% to ¥0.2152 from ¥0.3576 in 2021[22] - The total assets at the end of 2022 were ¥3,379,986,412.58, a 20.90% increase from ¥2,795,621,357.39 at the end of 2021[22] - The net cash flow from operating activities improved significantly to ¥178,606,534.18, compared to a negative cash flow of ¥13,594,326.94 in 2021, marking a 1,413.83% increase[22] - The net profit after deducting non-recurring gains and losses was ¥104,518,221.70, down 38.60% from ¥170,212,638.81 in 2021[22] - The weighted average return on equity decreased to 6.72% from 12.20% in the previous year[22] - The company achieved operating revenue of 4,560.11 million yuan, a year-on-year increase of 32.62%, while net profit was 103.69 million yuan, a decrease of 39.59% compared to the previous year[47] - Domestic sales accounted for 74.62% of total revenue, while international sales significantly increased to 25.38% from 5.81% in the previous year[47] Production and Sales - The company achieved a production total of 471,000 tons of carbon black in 2022, representing a year-on-year decrease of 3.82%, with industry profits declining by 76.78%[32] - The production of carbon black was 465,863.61 tons, with sales of 467,937.85 tons, generating revenue of ¥4,184,948,149.31[59] - In 2022, the total sales volume of carbon black reached 467,900 tons, positioning the company as the third largest in the industry according to the China Rubber Association[42] - The company reported a significant quarterly revenue of ¥1,196,859,541.95 in Q2 2022, with a net profit of ¥47,688,649.12 for the same quarter[26] Research and Development - Research and development expenses totaled 207.62 million yuan, with 18 major projects completed and 89 national patents obtained, including 12 invention patents[43] - The company’s R&D investment increased by 44.54% to ¥207,615,144.12 in 2022, accounting for 4.55% of operating revenue[70] - The company completed the technical research and development of a soft carbon black reactor, aiming to reduce equipment replacement frequency and improve product quality[68] - The company is developing a new type of N110 carbon black, which is expected to enhance its high-end product offerings and improve economic benefits[68] - The company is developing new products, including high-dispersion white carbon black and product-grade N660 carbon black, to enhance market competitiveness[69] Environmental and Sustainability Initiatives - The company is committed to green development, investing in environmental facilities and improving production processes to achieve energy savings and emissions reductions[43] - The company has established a long-term carbon reduction strategy in line with national "dual carbon" policies, focusing on energy efficiency and clean production[33] - The company has invested over 200 million yuan in air pollution control facilities, resulting in a total pollutant discharge reduction from 131 tons in 2020 to 92 tons in 2022, achieving a reduction rate of 29.77%[164] - The company’s wastewater treatment processes ensure that COD emissions do not exceed 0.53 tons/year, with most treated wastewater reused in production[165] - The company has implemented measures to reduce carbon emissions during production and operations, contributing to a low-carbon economy[170] Governance and Compliance - The company maintains an independent governance structure, with a board of directors consisting of 9 members, including 3 independent directors, ensuring compliance with legal requirements[96] - The company has established a comprehensive employee performance evaluation and incentive mechanism to attract and retain talented management and technical personnel[99] - The company has a robust internal control system and adheres to legal regulations to ensure transparent information disclosure[98] - The company’s governance structure complies with legal and regulatory requirements, showing no significant discrepancies[103] - The company has established a modern corporate governance structure that includes a board of directors and various specialized committees to facilitate effective decision-making[180] Market and Competitive Landscape - The overall economic environment in 2022 was challenging, with China's GDP growth at 3%, impacting demand in the carbon black industry[32] - The company acknowledges risks including market fluctuations and raw material price volatility, which may impact future performance[4] - The company faces market risks due to reliance on the tire industry, which significantly impacts demand for carbon black products[88] - The company is focused on optimizing raw material structures and has adjusted procurement strategies in response to rising raw material oil prices[50] Employee and Training Initiatives - The total number of employees at the end of the reporting period was 1,428, including 815 at the parent company and 613 at major subsidiaries[138] - The company completed 40 training programs in 2022, achieving a 100% completion rate, with a total of 15,919 training sessions conducted[141] - The company has implemented a new comprehensive salary system to enhance employee motivation and development opportunities[139] - The company emphasizes the importance of employee health by providing regular occupational health checks and distributing protective gear[185] Financial Management and Investments - The company plans to invest in carbon-based new material projects in Changzhi, Shanxi, and an intelligent equipment manufacturing base in Xingtai, Hebei, to enhance core competitiveness and create new profit growth points[85] - The company plans to enhance its capital strength through a non-public offering of A-shares, aligning with its long-term development strategy and benefiting all shareholders[132] - The company has allocated 50 million yuan for research and development in new technologies for the upcoming fiscal year[114] - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 5% in the next fiscal year[114] Safety and Risk Management - The company has established a four-level safety management system, implementing a grid management approach and signing safety production commitment letters at all levels[195] - The company completed its safety management goals for 2022, achieving zero major accidents and zero occupational disease incidence[195] - The company has a dedicated safety management department with 17 full-time safety personnel, including 4 certified safety engineers[194] - The company has implemented a risk management principle focusing on source management and continuous improvement to prevent safety risks[198]

Financial Performance - The company's operating revenue for Q1 2023 was ¥1,119,497,520.31, an increase of 11.58% compared to ¥1,003,283,827.33 in the same period last year[5] - Net profit attributable to shareholders was ¥12,736,621.40, reflecting an increase of 11.62% from ¥11,410,306.31 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥12,391,024.64, up 40.06% from ¥8,846,989.57 in the previous year[5] - Total operating revenue for Q1 2023 was CNY 1,119,497,520.31, an increase of 11.6% compared to CNY 1,003,283,827.33 in Q1 2022[20] - Net profit for Q1 2023 reached CNY 12,736,621.40, representing a 11.6% increase from CNY 11,410,306.31 in Q1 2022[21] - The total comprehensive income for the first quarter of 2023 was CNY 12,735,378.78, an increase from CNY 11,408,695.17 in the same period last year, representing a growth of approximately 11.6%[22] - Basic and diluted earnings per share for the first quarter were both CNY 0.0263, up from CNY 0.0238 in the previous year, indicating an increase of about 2.1%[22] Cash Flow and Liquidity - The net cash flow from operating activities was -¥167,183,229.11, a decrease of 240.52% compared to ¥118,973,869.13 in the same period last year[5] - Cash inflow from operating activities was CNY 699,365,179.79, compared to CNY 593,377,591.10 in the previous year, reflecting a growth of approximately 17.8%[23] - Cash outflow from operating activities totaled CNY 866,548,408.90, significantly higher than CNY 474,403,721.97 in the same period last year, resulting in a net cash flow from operating activities of CNY -167,183,229.11[24] - Cash flow from investing activities showed a net outflow of CNY -10,682,961.00, an improvement from CNY -14,493,658.65 in the previous year[24] - Cash flow from financing activities generated a net inflow of CNY 157,942,035.98, compared to a net outflow of CNY -96,685,080.20 in the same period last year[24] - The ending balance of cash and cash equivalents was CNY 168,990,952.30, up from CNY 71,702,352.04 at the end of the previous year[24] - Cash and cash equivalents net increase decreased by 355.67% compared to the previous period, mainly due to a significant reduction in cash flow from operating activities[12] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,536,928,303.62, an increase of 4.64% from ¥3,379,986,412.58 at the end of the previous year[5] - Current liabilities increased to CNY 1,701,295,211.11 in Q1 2023, up from CNY 1,608,060,974.27 in Q1 2022, reflecting a growth of 5.8%[18] - The company's total liabilities reached CNY 1,928,753,401.83, an increase of 7.7% from CNY 1,791,102,206.44 in Q1 2022[18] - Long-term borrowings increased to CNY 221,447,815.77 in Q1 2023, compared to CNY 176,435,632.17 in Q1 2022, marking a rise of 25.5%[18] - The equity attributable to shareholders of the parent company was CNY 1,608,174,901.79, up from CNY 1,588,884,206.14 in Q1 2022, reflecting a growth of 1.2%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 37,697[12] - The largest shareholder, Liu Jiangshan, holds 19.95% of the shares, totaling 97,897,902 shares[12] - The number of shares held by the top ten shareholders includes significant stakes from Liu Jiangshan and Bohai International Trust, accounting for 34.75% of total shares[12] - The company has not identified any related party transactions among the top ten shareholders, except for known relationships[13] Operational Insights - Accounts receivable financing increased by 43.57% to ¥511,327,452.98, primarily due to an increase in received notes[8][9] - Prepayments increased by 35.01% to ¥52,584,933.86, mainly due to increased advance payments for raw material purchases[9] - Other current assets decreased by 66.35% to ¥7,145,915.98, primarily due to a reduction in deductible input tax[9] - The company reported a significant increase in credit impairment losses of 158.56%, amounting to -¥1,228,888.31, due to increased impairment provisions[10] - The company experienced a 102.46% increase in cash paid for goods and services, totaling ¥762,739,892.74, attributed to higher cash purchases[10] - Research and development expenses for Q1 2023 were CNY 6,467,685.11, a decrease of 21.8% from CNY 8,280,020.24 in Q1 2022[21] Regulatory and Compliance - The company received an administrative regulatory measure from the China Securities Regulatory Commission due to failure to identify related party transactions[14]

Financial Performance - The company's operating revenue for 2022 was ¥4,560,114,814.45, representing a 32.62% increase compared to ¥3,438,539,047.58 in 2021[23]. - The net profit attributable to shareholders for 2022 was ¥103,691,001.03, a decrease of 39.59% from ¥171,634,188.69 in 2021[23]. - The basic earnings per share for 2022 was ¥0.2152, down 39.82% from ¥0.3576 in 2021[23]. - The total assets at the end of 2022 were ¥3,379,986,412.58, an increase of 20.90% from ¥2,795,723,009.18 at the end of 2021[23]. - The net cash flow from operating activities for 2022 was ¥178,606,534.18, a slight increase of 1.37% from ¥176,198,161.50 in 2021[23]. - The company's net asset attributable to shareholders at the end of 2022 was ¥1,588,884,206.14, up 5.44% from ¥1,506,884,863.34 at the end of 2021[23]. - The company achieved operating revenue of 4,560.11 million yuan, a year-on-year increase of 32.62%, while net profit was 103.69 million yuan, a decrease of 39.59% compared to the previous year[47]. - The gross profit margin for the chemical raw materials and chemical products manufacturing sector was 8.94%, reflecting a decrease of 5.76% compared to the previous year[57]. Market and Industry Conditions - The company experienced a decline in net profit due to market risks and fluctuations in raw material prices[4]. - The overall industry profit for carbon black decreased by 76.78% in 2022, highlighting the challenging market conditions faced by the company[33]. - Domestic sales accounted for 74.62% of total revenue, while international sales significantly increased to 25.38% from 5.81% in the previous year[47]. - The company faces market risks due to reliance on the tire industry, which may impact demand for carbon black products[89]. - The company is exposed to risks from price fluctuations of raw materials, which constitute over 80% of production costs[89]. Research and Development - Research and development expenses totaled 207.62 million yuan, with 18 major R&D projects completed in 2022, resulting in 89 national patent authorizations[43]. - The company is developing new carbon black products, including N110 and N115, aimed at improving product quality and expanding high-end product offerings[69]. - The company completed the development of the N660 carbon black product, achieving batch supply and improving product quality metrics[71]. - The number of R&D personnel increased by 7.27% to 177, with R&D personnel accounting for 16.53% of the total workforce[71]. - The company aims to enhance its market competitiveness through ongoing R&D projects focused on improving product performance and reducing production costs[69]. Environmental and Sustainability Initiatives - The company has established a long-term carbon reduction strategy in line with national "dual carbon" policies, focusing on energy efficiency and clean production[34]. - The company invested over 200 million yuan in air pollution control facilities, reducing total emissions from 131 tons in 2020 to 92 tons in 2022, achieving a reduction of 39 tons, or 29.77%[169]. - The company has implemented a carbon emission reduction strategy, resulting in a decrease in production energy consumption by 30 kg/t after technical upgrades, leading to an annual revenue increase of approximately 6.896 million yuan[176]. - The actual emissions of pollutants in 2022 were significantly below the permitted limits, with particulate matter at 1.94 tons, SO2 at 30.49 tons, and NOx at 59.48 tons[166]. - The company has established an emergency response plan for environmental incidents, which was revised and filed with the local environmental authority in June 2022[170]. Corporate Governance - The company has established a robust corporate governance structure, complying with relevant laws and regulations, and ensuring the protection of shareholder rights[96]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and enhancing governance[97]. - The independent directors actively participate in the company's decision-making process, providing independent opinions on significant matters such as related party transactions and executive compensation[99]. - The company has engaged in investor communication activities to discuss governance, development strategies, and operational conditions, enhancing transparency with stakeholders[93]. - The company maintains a strict separation from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring independent operations[102]. Employee Relations and Social Responsibility - The company emphasizes social responsibility, focusing on welfare and environmental protection, while actively communicating with stakeholders to balance interests[101]. - The company provides free accommodation and quality meals for employees, ensuring a comfortable living and working environment[189]. - The company conducts regular health checks and provides protective equipment to safeguard employee health[188]. - The company has implemented a customer complaint management system to ensure customer rights and satisfaction[190]. - The company has actively participated in community development and charitable activities, enhancing its corporate social responsibility image[194]. Strategic Initiatives and Future Plans - The company aims to transition from a product manufacturing enterprise to a service-oriented manufacturing enterprise, focusing on high-end, intelligent, and green development[35]. - The company plans to invest in carbon-based new material projects in Changzhi, Shanxi, and an intelligent equipment manufacturing base in Xingtai, Hebei, to enhance core competitiveness[87]. - The company is focused on market expansion and new product development strategies[110]. - The company plans to enhance its financial management system as part of its strategic initiatives[110]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[114].

会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 二、参加人员 证券代码：002442 证券简称：龙星化工 公告编号：2023-009 龙星化工股份有限公司 关于举办2022年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 龙星化工股份有限公司（以下简称"公司"）已于 2023 年 4 月 18 日在巨潮 资讯网上披露了《2022 年度报告全文》及《2022 年度报告摘要》。为便于广大 投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2023 年 04 月 21 日（星期五）15:00-17:00 在"价值在线"（www.ir-online.cn）举办龙 星化工股份有限公司业绩说明会，与投资者进行沟通和交流，广泛听取投资者的 意见和建议。 一、说明会召开的时间、地点和方式 会议召开时间：2023 年 04 月 21 日（星期五）15:00-17:00 董事长 刘鹏达先生，总经理 魏亮先生，财务总监 杨津女士，独立董事阎 丽明女士，董事会秘书 刘飞舟先生（如遇特殊情况，参会人员可能进行 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,200,143,369.28, representing a 31.09% increase compared to ¥1,678,380,995.80 in the same period last year[21]. - The net profit attributable to shareholders decreased by 52.07% to ¥59,098,955.43 from ¥123,299,040.55 year-on-year[21]. - Basic earnings per share fell by 52.86% to ¥0.1211 from ¥0.2569 in the same period last year[21]. - Revenue for the first half of the year reached CNY 2,200,143,369.28, an increase of 31.09% compared to the previous year, primarily due to higher product prices[52]. - Net profit for the period was CNY 59,099,000, a decrease of 52.07% year-on-year[44]. - The gross profit margin for carbon black products was 8.93%, reflecting a decrease of 8.86% year-on-year, attributed to rising raw material costs[56]. Cash Flow and Investments - The net cash flow from operating activities surged by 814.22% to ¥243,441,274.53, compared to ¥26,628,392.70 in the previous year[21]. - The company achieved a cash flow from operating activities of CNY 243,441,274.53, a remarkable increase of 814.22% compared to the previous year, primarily due to increased cash receipts[52]. - The company invested approximately 89.09 million yuan in research and development during the reporting period, holding 12 national invention patents and 69 utility model patents as of June 30, 2022[38]. - The company made an investment of ¥5,000,000 during the reporting period, marking a 100% increase compared to the same period last year[62]. Assets and Liabilities - Total assets increased by 12.85% to ¥3,154,988,417.66 from ¥2,795,621,357.39 at the end of the previous year[21]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥263,133,188.45, representing 8.34% of total assets, an increase of 2.81% compared to the previous year[60]. - Accounts receivable reached ¥1,101,505,349.16, accounting for 34.91% of total assets, with a 6.45% increase attributed to rising product prices[60]. - The total liabilities of the company as of June 30, 2022, were CNY 1,617,878,668.17, up from CNY 1,288,736,494.05, marking an increase of around 25.6%[159]. Production and Operations - The company continues to focus on the production and sales of carbon black, silica, and coal tar products, which are essential materials in various industries[29]. - The company's carbon black production capacity is 420,000 tons per year, with a total sales volume of 235,000 tons in the first half of 2022, ranking third in the industry according to the China Rubber Association Carbon Black Branch[38]. - The company employs a "sales-driven production" model, aligning production with confirmed customer orders to meet demand efficiently[35]. - The company has implemented a DCS automated production control system, allowing for real-time monitoring and management of the entire production process[41]. Research and Development - The company invested approximately 89.09 million yuan in research and development during the reporting period, holding 12 national invention patents and 69 utility model patents as of June 30, 2022[38]. - R&D expenditure totaled CNY 89,093,747.32, representing a significant increase of 93.82% compared to the previous year, reflecting the company's commitment to product development and optimization[52]. - The company plans to continue investing in R&D to drive future growth and innovation[169]. Market and Sales - Domestic sales accounted for 82.31% of total revenue, while international sales surged to 17.69%, up from 5.76% in the previous year, indicating a strategic shift towards global markets[55]. - The sales revenue from carbon black products was CNY 1,970,183,371.9, a year-on-year increase of 23.92%[55]. - The company is focusing on strategic acquisitions to enhance its product offerings and market share in the chemical industry[178]. Environmental and Social Responsibility - The company has invested significantly in environmental protection, enhancing facilities to meet national standards, with ongoing projects including desulfurization and wastewater treatment[75]. - The company has achieved a dust removal efficiency of 99.99% through negative pressure collection and bag dust removal measures in its waste gas treatment[84]. - The company has constructed desulfurization, denitrification, and wet electrostatic precipitator facilities, achieving ultra-low emissions standards for waste gas[85]. - The company has actively participated in community development and charitable activities, reflecting its commitment to social responsibility[103]. Governance and Compliance - The company has established a modern corporate governance structure, enhancing the protection of shareholder and creditor rights[92]. - The company adheres to strict information disclosure obligations, ensuring timely and accurate communication of significant information to investors, thereby safeguarding their rights[96]. - The company emphasizes the protection of minority shareholders' rights and conducts shareholder meetings with a combination of online and on-site voting, ensuring equal participation for all shareholders[95].

Financial Performance - The company's operating revenue for 2019 was ¥2,805,930,355.05, a decrease of 9.07% compared to ¥3,085,736,795.45 in 2018[22]. - The net profit attributable to shareholders for 2019 was ¥19,221,241.82, representing an 85.52% decline from ¥132,720,900.80 in 2018[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,951,425.74, down 92.78% from ¥110,060,033.36 in 2018[22]. - The total assets at the end of 2019 were ¥2,662,487,831.67, an 8.61% decrease from ¥2,913,300,463.04 at the end of 2018[22]. - The net assets attributable to shareholders decreased by 2.28% to ¥1,237,213,464.25 from ¥1,266,127,614.85 at the end of 2018[22]. - The basic earnings per share for 2019 was ¥0.0400, down 85.53% from ¥0.2765 in 2018[22]. - The weighted average return on equity for 2019 was 1.55%, a decrease of 9.51% from 11.06% in 2018[22]. - The company received government subsidies amounting to ¥13,694,453.40, which accounted for 71.25% of the net profit, indicating a significant impact on the reported performance[29]. - The company reported a total revenue of 360 million RMB for the year 2019[165]. Sales and Market Position - The company reported that over 90% of its sales revenue comes from carbon black, with raw material costs accounting for approximately 90% of production costs[8]. - The company maintains a strong competitive position as one of the top ten global players in the carbon black industry, but faces risks from potential adverse changes in national industrial policies[9]. - The company relies heavily on the automotive tire industry, which poses a risk due to the industry's volatility affecting carbon black demand[8]. - The carbon black market is heavily influenced by macroeconomic conditions, with potential risks of price suppression if demand from downstream tire manufacturers decreases[8]. - The company acknowledges the increasing competition in the carbon black market, which may impact profitability due to product homogeneity and customer concentration risks[9]. - The company produced 44.93 million tons of carbon black in 2019, accounting for 10.14% of the total production of the industry association, which produced 443 million tons, a decrease of 1.93% year-on-year[38]. - The company achieved a sales volume of 45.66 million tons of carbon black, resulting in a production and sales rate of 101.62%[44]. - The company's carbon black sales revenue was CNY 2,589,238,104.15, a decrease of 9.85% compared to the previous year[51]. - Domestic sales revenue decreased by 3.08% to CNY 2,481,920,541.59, while foreign sales revenue dropped by 38.28% to CNY 324,009,813.46[51]. Research and Development - The company invested 112.12 million yuan in research and development during the reporting period, with a total of 30 patents granted, including 10 invention patents[40]. - The company aims to develop new carbon black varieties to penetrate the high-end market and improve existing product quality to enhance competitiveness[63]. - The company invested CNY 11,212.09 million in R&D, focusing on new product development and optimizing product performance[45]. - The company has made breakthroughs in the high-dispersion white carbon black project, which has been accepted by tire manufacturers[41]. Environmental Compliance and Sustainability - The company emphasizes the importance of environmental compliance, having invested significantly in pollution control measures to meet current standards[9]. - The company has invested CNY 1.9 billion in pollution control facilities, including flue gas desulfurization, denitrification, and dust removal systems[143]. - The company achieved a dust removal efficiency of 99.99% through negative pressure collection and bag dust removal measures[142]. - The company’s solid waste and hazardous waste disposal rate reached 100%[138]. - The company’s emissions of sulfur dioxide (SO2) were reported at 173.08 tons, with a concentration of 550 mg/m3, complying with the emission standards[142]. - The company has established a comprehensive environmental management system, certified by ISO9001 and ISO14001[138]. - The company has implemented a paperless office policy to reduce paper consumption and waste[137]. - The company has established a self-monitoring plan in accordance with national regulations, with real-time data on emissions uploaded to the pollution source monitoring system[147]. Corporate Governance and Shareholder Relations - The company has established a modern corporate governance structure to protect the rights of shareholders and creditors[123]. - The company has maintained its accounting firm, Tianzhi International Accounting Firm, for 7 consecutive years, with an audit fee of CNY 900,000[98]. - The board of directors consists of three independent directors, accounting for over one-third of the total board members, ensuring compliance with legal and regulatory requirements[191]. - The company has a transparent information disclosure system, ensuring timely and accurate communication with investors through designated channels[191]. - The annual shareholders' meeting was held on March 8, 2019, with an investor participation rate of 29.50%[198]. - The company has not engaged in any significant related party transactions during the reporting period[102]. - The company has not experienced any changes in its controlling shareholder during the reporting period[163]. Risk Management - The company faces risks from fluctuations in raw material prices, particularly due to environmental policies and adjustments in the steel and coking industries[8]. - The company has established stable supply relationships with major raw material suppliers, but remains vulnerable to cost increases that cannot be passed on to customers[8]. - The company emphasizes sustainable development and aims to improve risk management and accelerate product research and innovation[80]. Employee Relations and Social Responsibility - The company adheres to labor laws and has established a comprehensive employee rights protection system, including basic pension and medical insurance for all employees[128]. - The company has implemented a performance-based compensation system, opposing egalitarianism in distribution, and ensuring equal employment opportunities[129]. - The company actively engages in social responsibility and public welfare initiatives[119]. - The company is committed to social responsibility, actively participating in community development and charitable activities[136].

龙星化工股份有限公司 2022 年第一季度报告全文 证券代码：002442 证券简称：龙星化工 公告编号：2022-024 龙星化工股份有限公司 2022 年第一季度报告 1．董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2．公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3．第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 1,003,283,827.33 | 820,419,968.84 | 22.29% | | 归属于上市公司股东的净利润（元） | 11,410,306.31 | 80,059,48 ...

Financial Performance - The company's operating revenue for 2021 was CNY 3,438,539,047.58, representing a 49.78% increase compared to CNY 2,295,745,792.80 in 2020[18]. - The net profit attributable to shareholders for 2021 was CNY 171,634,188.69, a significant increase of 121.59% from CNY 77,455,520.89 in 2020[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 170,212,638.81, up 243.73% from CNY 49,519,517.01 in the previous year[18]. - The basic earnings per share for 2021 was CNY 0.3576, which is a 121.56% increase compared to CNY 0.1614 in 2020[18]. - The total assets at the end of 2021 were CNY 2,795,621,357.39, reflecting an 11.07% increase from CNY 2,517,077,655.44 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,506,884,863.34, a 14.62% increase from CNY 1,314,654,276.08 in 2020[18]. - The company reported a negative net cash flow from operating activities of CNY -13,594,326.94 in 2021, a decrease of 105.47% compared to CNY 248,739,250.96 in 2020[18]. - The weighted average return on net assets for 2021 was 12.20%, an increase of 6.13% from 6.07% in 2020[18]. - The company experienced a quarterly revenue of CNY 951,008,510.21 in Q4 2021, with a net profit of CNY 29,286,634.63 attributable to shareholders[21]. - The company’s carbon black sales revenue was CNY 3,224.88 million, up 51.94% from the previous year[49]. - Domestic sales accounted for 94.19% of total revenue, while international sales made up 5.81%, with the latter growing by 68.07% year-over-year[47]. Research and Development - The company invested CNY 143.64 million in research and development during the reporting period, with a total of 79 patents granted, including 11 invention patents[39]. - The company has achieved breakthroughs in high-dispersion white carbon black, which has transitioned from the research phase to mass production[40]. - The company’s carbon black production technology is at a mature stage, maintaining international advanced levels in various reactor designs and energy recovery applications[39]. - The company is currently developing special carbon black products, including pigment carbon black and conductive carbon black, which are expected to enhance product offerings and market competitiveness[61]. - The company has completed several R&D projects aimed at improving production efficiency and product quality, which are expected to enhance future profitability[61]. - The company has a total of 165 R&D personnel, including 62 with bachelor's degrees and 3 with master's degrees[38]. Environmental and Social Responsibility - The company reported a total investment of 1.5 billion yuan in pollution prevention facilities by the end of 2021, achieving ultra-low emission standards[162]. - In 2021, the actual emissions were 2.49 tons of particulate matter, 34.22 tons of SO2, and 67.48 tons of NOx, all below the permitted limits[162]. - Longxing Chemical's wastewater reuse rate exceeded 95%, significantly reducing freshwater extraction[161]. - The company has established an emergency response plan for environmental incidents, updated in 2019[164]. - The company has adopted green procurement strategies to reduce greenhouse gas emissions throughout its supply chain[167]. - The company actively engages in social responsibility initiatives and aims to create a harmonious corporate environment[168]. - The company has been recognized as a key high-tech enterprise under the National Torch Program and has passed REACH regulation registration[168]. Corporate Governance - The company has established a complete and independent business operation system, with no reliance on the controlling shareholder for operations[93]. - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirements[89]. - The company has implemented a performance evaluation and incentive mechanism for senior management, linking their compensation directly to performance[95]. - The independent directors have not raised any objections to the board's resolutions during the reporting period, ensuring governance integrity[91]. - The company has a robust internal control system and governance structure, complying with relevant laws and regulations[88]. - The company emphasizes the importance of R&D investment to improve product technology and maintain competitive advantage in the carbon black industry[81]. Market and Industry Position - The carbon black industry experienced stable growth in market demand during 2021, with significant revenue and profit increases in the first three quarters, although profits declined in the fourth quarter due to reduced tire market demand and rising raw material oil prices[28]. - The company ranked second among members of the China Rubber Industry Association's carbon black branch in terms of revenue and production volume[28]. - The company aims to expand its market by replacing imports in high-grade conductive carbon black and pigment carbon black, focusing on the development of carbon-based new materials[28]. - The company’s main business includes the production and sales of carbon black, white carbon black, and coal tar products, positioning itself as a key player in the domestic carbon black industry[31]. Employee Development and Training - The total number of employees at the end of the reporting period is 1,349, with 730 in the parent company and 619 in major subsidiaries[130]. - The company has upgraded its compensation system to a comprehensive new system, with fixed salary accounting for 54%, variable salary for 26%, and other allowances for 20%[132]. - In 2021, the company planned 44 training sessions with a completion rate of 100%, training 12,424 individuals at a cost of 285,055.94 yuan[133]. - The company has established a new training room equipped with 100 dual desks and various training equipment to enhance training effectiveness[133]. - The company has implemented a salary structure that includes six major sequences and 16 job levels, enhancing employee development opportunities[132]. Financial Management - The company’s financial leverage is moderate, with a debt-to-asset ratio of 46.10%, indicating a reasonable level of financial risk[85]. - The company has a comprehensive employee rights protection system, ensuring compliance with labor laws and providing various employee benefits[175]. - The company emphasizes cash dividend distribution to provide reasonable returns to investors while maintaining sound operational practices[173]. - The company has implemented a stock incentive plan to align the interests of management with those of shareholders[103]. Safety and Compliance - The company has established a comprehensive safety management system, ensuring safe operation of equipment and production processes[176]. - The company has completed its safety management goals for 2021, achieving zero major accidents and zero occupational disease incidents[187]. - The company has implemented a risk management and hidden danger investigation mechanism, focusing on continuous improvement and prevention[190]. - The company has developed comprehensive emergency response plans and conducts regular drills to enhance employee preparedness for emergencies[193].

Financial Performance - The company reported a year-end asset-liability ratio of 47.77%, indicating a stable financial policy and a certain level of debt repayment capability[15]. - The company's operating revenue for 2020 was ¥2,295,745,792.80, a decrease of 18.18% compared to ¥2,805,930,355.05 in 2019[6]. - The net profit attributable to shareholders was ¥77,455,520.89, representing a significant increase of 302.97% from ¥19,221,241.82 in the previous year[6]. - The net profit after deducting non-recurring gains and losses was ¥49,519,517.01, up 522.78% from ¥7,951,425.74 in 2019[6]. - The net cash flow from operating activities was ¥248,739,250.96, down 53.59% from ¥535,950,089.04 in the previous year[6]. - The basic earnings per share increased to ¥0.1614, a rise of 303.50% compared to ¥0.0400 in 2019[6]. - The total assets at the end of 2020 were ¥2,517,077,655.44, a decrease of 5.46% from ¥2,662,487,831.67 at the end of 2019[6]. - The net assets attributable to shareholders increased by 6.26% to ¥1,314,654,276.08 from ¥1,237,213,464.25 in 2019[6]. - The company reported a significant increase in quarterly net profit, with the fourth quarter net profit reaching ¥56,231,649.26, compared to ¥1,252,739.32 in the first quarter[31]. - The company's total operating revenue for the year was 2,295,745,792.80 yuan, a decrease of 18.18% compared to the previous year[55]. - The net profit for the year was 77,455,500 yuan, representing a significant increase of 302.97% year-on-year[47]. - Domestic sales revenue decreased by 12.29%, while international sales revenue saw a drastic decline of 63.33% due to reduced export volumes caused by the pandemic[47]. Investment and R&D - The company invested approximately 94 million CNY in research and development during the reporting period, with a total of 70 patents granted, including 10 invention patents[42]. - The company invested 94,006,700 yuan in research and development, focusing on new product development and optimizing product performance[48]. - The company is exploring new technologies and applications to enhance product structure and profitability[71]. - The company is investing 200 million RMB in R&D for new technologies in the next fiscal year, focusing on sustainable chemical solutions[196]. Market Position and Risks - The company is heavily reliant on the tire manufacturing industry, which poses a risk due to potential market volatility in this sector[9]. - The company maintains a strong competitive position as one of the top ten global players in the carbon black industry, but faces risks from potential adverse changes in national industrial policies[12]. - The company’s main customers are large domestic and international tire manufacturers, leading to a high customer concentration risk[9]. - The primary raw materials for carbon black production account for approximately 80% of production costs, making the company vulnerable to price fluctuations in coal tar, anthracene oil, and ethylene tar[10]. Environmental and Safety Measures - The company has made significant investments in environmental protection measures, which may lead to increased operational costs if new regulations are introduced[13]. - The company emphasizes safety production management due to the flammable nature of raw materials and high-temperature production processes, which poses operational risks[14]. - The company has achieved a 100% safe disposal rate for industrial solid waste and hazardous waste, complying with environmental regulations[145]. - The company promotes energy-saving technologies and practices, significantly reducing costs and energy consumption[144]. - The company has implemented a comprehensive safety management system, including a four-level safety management structure and regular safety training[146]. - The company has established a comprehensive emergency response plan and conducts at least one drill annually to improve employees' emergency handling skills[152]. Corporate Governance and Social Responsibility - The company has established a modern corporate governance structure, ensuring effective checks and balances among its governing bodies[128]. - The company actively engages in social responsibility initiatives and various public welfare activities[127]. - The company has a strong commitment to maintaining the legitimate rights and interests of creditors and employees[127]. - The company emphasizes sustainable development and social responsibility in its operational strategy[92]. - The company donated RMB 500,000 to support COVID-19 prevention efforts, demonstrating its commitment to social responsibility[163]. Future Outlook and Strategies - The company expects a revenue growth of 12% for the next fiscal year, projecting revenues to reach approximately 1.68 billion RMB[196]. - New product launches are planned for Q2 2021, including two innovative chemical products aimed at expanding market share[196]. - The company plans to enhance its supply chain efficiency, targeting a 15% reduction in operational costs by the end of 2021[196]. - The management team emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[196].

Revenue and Profit - Revenue for Q1 2022 reached ¥1,003,283,827.33, an increase of 22.29% compared to ¥820,419,968.84 in the same period last year[3] - Net profit attributable to shareholders was ¥11,410,306.31, a decrease of 85.75% from ¥80,059,480.55 year-on-year[3] - Operating income grew by 72.77% year-on-year, primarily from gains on the disposal of scrapped assets[10] - Net profit decreased by 85.75% compared to the previous period, mainly due to a reduction in gross profit[10] - The total operating revenue for the first quarter of 2022 was CNY 1,003,283,827.33, an increase of 22.2% compared to CNY 820,419,968.84 in the same period last year[20] - The net profit for the first quarter was CNY 11,410,306.31, a significant decrease of 85.7% compared to CNY 80,059,480.55 in the previous year[22] - The total comprehensive income for the quarter was CNY 11,408,695.17, down from CNY 80,059,734.21 in the same period last year[23] Cash Flow and Assets - Operating cash flow net amount surged by 680.85% to ¥93,332,219.86 from ¥11,952,706.49 in the previous year[3] - Cash received from sales of goods and services increased by 66.15% year-on-year, attributed to higher sales volume and increased collection of receivables[10] - Net cash flow from operating activities surged by 680.85% compared to the previous period, driven by increased sales collections[10] - Cash inflow from operating activities totaled CNY 593,377,591.10, compared to CNY 357,504,721.78 in the previous year[24] - The ending balance of cash and cash equivalents was ¥71,702,352.04, down from ¥119,321,968.08 in Q1 2021, a decrease of about 40%[27] - Cash inflow from financing activities totaled ¥268,474,328.46, up from ¥230,555,025.22, reflecting an increase of around 16%[26] - The total assets at the end of the period were ¥3,134,594,302.06, reflecting a growth of 12.13% from the previous year-end[3] Expenses and Liabilities - Research and development expenses increased by 65.02% to ¥8,280,020.24, up from ¥5,017,551.16 in the previous year[7] - The total operating costs amounted to CNY 990,685,324.06, up 37.4% from CNY 720,776,652.05 year-on-year[20] - The gross profit margin decreased due to a 42.42% increase in operating costs, which reached ¥924,507,707.06 compared to ¥649,132,716.26 last year[7] - The company's total liabilities reached CNY 1,612,013,080.93, an increase from CNY 1,288,736,494.05 year-on-year[19] - The total cash outflow from operating activities amounted to ¥500,045,371.24, compared to ¥345,552,015.29 in the previous year, indicating an increase of about 45%[26] Other Income and Subsidiary Establishment - Other income increased by 104.04% compared to the previous period, mainly due to heating subsidies received this period[10] - The company established a wholly-owned subsidiary in Shanxi Province for the research and manufacturing of carbon-based new materials[14] - The registered capital of the new subsidiary is CNY 50 million, with registration completed on March 24, 2022[14] Employee Compensation and Taxes - The company paid ¥38,343,596.89 in employee compensation, an increase from ¥33,035,282.56 in the previous year, representing a growth of approximately 16%[26] - The total cash outflow for taxes was ¥16,590,186.91, a decrease from ¥46,448,740.04, indicating a reduction of about 64%[26] Impairment and Audit - The company reported a credit impairment loss of CNY 2,098,487.42, compared to a loss of CNY 5,039,364.38 in the previous year[22] - The company did not conduct an audit for the Q1 2022 report[28]