NSWRC(600165)2023-04-27 16:00Financial Performance - The company reported a net profit of -18,162,854.95 RMB for the year 2022, resulting in a cumulative profit available for distribution to shareholders of -206,709,117.34 RMB at the end of the year[5]. - The company will not implement any profit distribution or capital reserve transfer to increase share capital for the year 2022 due to the negative profit situation[5]. - The company's operating revenue for 2022 was approximately ¥681.13 million, representing a year-over-year increase of 173.86% compared to ¥248.72 million in 2021[22]. - The net loss attributable to shareholders for 2022 was approximately ¥141.48 million, an improvement from a loss of ¥166.09 million in 2021[22]. - The basic earnings per share for 2022 was -¥0.207, compared to -¥0.243 in 2021, indicating a reduction in losses[23]. - The total assets at the end of 2022 were approximately ¥3.28 billion, a slight decrease of 0.82% from ¥3.31 billion at the end of 2021[22]. - The cash flow from operating activities for 2022 was approximately ¥53.14 million, a significant improvement from a negative cash flow of ¥17.93 million in 2021[22]. - The weighted average return on equity for 2022 was -20.224%, compared to -19.023% in 2021, reflecting continued challenges in profitability[23]. - The company reported a quarterly operating revenue of ¥308.59 million in Q2 2022, the highest among the four quarters[25]. - The net profit attributable to shareholders in Q2 2022 was approximately ¥31.86 million, marking a significant recovery from losses in other quarters[25]. Audit and Compliance - The audit report issued by the accounting firm indicates a qualified opinion, highlighting the need for investors to review the detailed explanations provided in the report[4]. - The company’s financial statements have been audited by 信永中和会计师事务所, which is responsible for ensuring the accuracy and completeness of the financial reports[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures in providing guarantees to external parties[7]. - The company received a regulatory warning from the Shanghai Securities Regulatory Commission on August 22, 2022, involving its controlling shareholder and several executives[130]. - The company received a qualified audit opinion from Xinyong Zhonghe for its 2022 financial statements[169]. Business Operations and Strategy - The company has not disclosed any plans for market expansion, new product development, or mergers and acquisitions in the current report[6]. - The company is committed to enhancing its profitability by continuously expanding its market presence and developing new products in response to market demands[37]. - The company is currently developing several new technologies, including a new fermentation process for lauric acid and a coal-based activated carbon for acetone adsorption[62]. - The company aims to enhance its production capabilities in the lauric acid industry, focusing on high-end products and reducing reliance on imports[72]. - The company is exploring market expansion and new product development through strategic partnerships and technological innovations[73]. - The company is actively seeking financing solutions to address the temporary production halt at its subsidiary, with a goal to resume operations within three months[110]. Environmental and Sustainability Efforts - The company invested approximately 400 million yuan in environmental protection facilities during the reporting period[153]. - The company has established environmental protection mechanisms and complies with relevant laws and standards[152]. - The company has taken measures to reduce carbon emissions through technology development, improving production efficiency, and reducing raw material and energy consumption[161]. - The company has developed an emergency response plan for environmental incidents, which has been filed and includes regular training for employees[159]. - The company is listed as a key pollutant discharge unit by the Ningxia Environmental Protection Department[153]. Research and Development - The company has established innovation platforms, including the Ningxia Biobased Materials Engineering Research Center, to enhance its R&D capabilities[73]. - The company has a dedicated R&D team of 61 personnel, with 31 members under the age of 40, focusing on innovative production techniques[78]. - The company’s R&D expenses increased by 24.63% to 25.51 million yuan, reflecting ongoing innovation efforts[46]. - The company is focusing on the continuous R&D of bio-based long-chain dicarboxylic acid production technology, achieving significant improvements in product quality stability, efficiency, and cost reduction[73]. Governance and Management - The company adheres to legal and regulatory requirements in corporate governance, ensuring clear responsibilities among shareholders, board members, and management[113]. - The company has established a robust investor relations management system to facilitate communication with investors[115]. - The company has a comprehensive information disclosure policy to ensure all shareholders have equal access to information[115]. - The company has experienced a shift in its governance structure with the election of new independent directors[129]. - The company is committed to aligning its executive compensation with performance metrics as per its established remuneration system[127]. Market and Competitive Position - The long-chain dicarboxylic acid market is expected to grow continuously, driven by the demand for lightweight materials in the automotive and electronics industries during the 14th Five-Year Plan period[35]. - The activated carbon industry is anticipated to expand due to increasing environmental awareness and demand in sectors such as water treatment and air purification[36]. - The company plans to enhance its competitive edge by focusing on the independent research and development of lauric acid production technology and expanding its product offerings[105]. - The company is actively pursuing strategies for market expansion and product innovation to drive future growth[1]. Financial Position and Shareholder Relations - The company has implemented a cash dividend policy, prioritizing cash distribution to protect investors' rights, with a plan for shareholder returns from 2021 to 2023[143]. - The total remuneration for all directors, supervisors, and senior management was 3.8498 million yuan[127]. - The company has not engaged in any significant related party transactions that could affect its independence[116]. - The company reported a total revenue of 619,070 million in 2022, showing a significant increase compared to previous years[118]. - The company is committed to optimizing its asset structure and exploring diversified development to enhance its risk resistance and sustainable growth capabilities[105].