JINJIA(002191)2023-04-14 16:00Project Progress and Investment - The RFID-based intelligent logistics operation support system project has a completion rate of 94.89% with an investment of 19,661.8 thousand RMB[108] - The Guizhou new material premium packaging and intelligent upgrade project has a completion rate of 87.64% with an investment of 9,582.72 thousand RMB[108] - The Anhui new material premium packaging and intelligent upgrade project has a completion rate of 58.04% with an investment of 7,981.96 thousand RMB[108] - The Jiangsu new material premium packaging and intelligent upgrade project has a completion rate of 65.07% with an investment of 8,322.24 thousand RMB[108] - The Jinjia intelligent packaging upgrade project has a completion rate of 96.44% with an investment of 15,140 thousand RMB[108] - The total investment in committed projects is 162,461.81 thousand RMB with a total completion rate of 84.39%[108] - The BOPP film project has a completion rate of 86.26% with an investment of 30,000 thousand RMB[108] - The packaging technology research and development center project has a completion rate of 38.44% with an investment of 15,172.0 thousand RMB[108] - The Guizhou food safety (including pharmaceuticals and health products) IoT and big data marketing traceability platform project has a completion rate of 100.00% with an investment of 18,174 thousand RMB[108] - The Shandong new material and composite paper material project has a completion rate of 0% with an investment of 0 thousand RMB[108] Fund Utilization and Adjustment - The company changed the use of raised funds from the "Guizhou Food Safety (including pharmaceuticals and health products) IoT and Big Data Marketing Traceability Platform Project" to the "Zhongtian Optoelectronics Technology Renovation and Expansion Project", with the implementation location moved from Guiyang, Guizhou to Zhuhai, Guangdong[109] - The company adjusted the use of raised funds for the "RFID-based Smart IoT Operation Support System Project", reallocating RMB 300 million to the new "Shandong New BOPP Film and Composite Paper Materials Project", with the implementation location moved from Shenzhen, Guangdong to Heze, Shandong[109] - As of December 31, 2022, the company had a balance of unused raised funds of RMB 117,610,089.38, plus interest income of RMB 61,613,058.37, resulting in an actual unused balance of RMB 179,172,156.55[109] Subsidiary Performance and Acquisitions - The company's subsidiary, Anhui Antai, reported a net profit of RMB 92,912,466.07, contributing significantly to the company's overall performance[113] - The company's subsidiary, Zhongtian, reported a net profit of USD 1,937,642.89, despite a slight operating loss[113] - The company's subsidiary, Chongqing Hongsheng, reported a net profit of RMB 3,565,350.34, contributing to the company's overall performance[113] - The company acquired and obtained voting rights for Hengtian Commercial Co., Ltd., which is expected to have a positive impact on future performance[113] - The company established Shenzhen Yunpujiahang Technology Service Co., Ltd., which is expected to have a positive impact on future performance[113] - The company transferred equity in Shenzhen Huihechuang Technology Co., Ltd., which is not expected to have a significant impact on future performance[113] Business Strategy and Development - Packaging new materials business: Continue to maintain the leading position in domestic high-end laser packaging materials, increase external market development, and achieve further growth in external market revenue. Focus on developing diversified products, expanding into the high, medium, and low-end markets of liquor packaging in the Southwest, and enhancing the technical value-added of products such as laser films, cigarette films, and laser transfer films[124] - New tobacco business: Optimize industrial top-level design, integrate market resources, and aim to become a global professional e-cigarette manufacturer and a well-known overseas new tobacco brand. Deeply bind with key domestic clients, enhance the market share of tobacco auxiliary materials, and develop e-cigarette supply chain finance and logistics services[125] - Global manufacturing base layout: Expand the scale of existing industries by closely monitoring core clients and globally deploying manufacturing bases for e-cigarettes and HNB industrial chains to mitigate comprehensive risks[126] - Technological leadership: Increase R&D investment in packaging and new tobacco fields, promote new technologies, and build digital production workshops to enhance production efficiency and product yield[127] - Diversified investment: Promote external development through direct investment and industrial M&A funds, focusing on high-end, intelligent, and environmentally friendly directions, and integrate existing main businesses with emerging industries[128] - Internal governance improvement: Strengthen fine management of various businesses, improve operational efficiency, and enhance information communication levels[129] - Organizational and talent optimization: Improve organizational efficiency, build a talent echelon, and establish a diversified distribution system to incentivize core talents[130] Risk Management - Industry policy risks: Address risks related to tobacco industry policies by expanding product categories and social packaging business, and closely monitor domestic and international policies on new tobacco products[131] - New product market development risks: Conduct thorough market research and utilize existing capacity, technology, and resources to enhance the competitiveness of new products[132] - M&A and integration risks: Conduct in-depth research and scientific decision-making in M&A projects, and strengthen scientific control over M&A projects to prevent risks[133] Corporate Governance and Compliance - The company held 13 board meetings and 10 supervisory board meetings during the reporting period, ensuring compliance with corporate governance regulations[139] - The company implemented a restricted stock incentive plan to motivate core employees and promote healthy development[140] - The company strictly followed legal procedures for the appointment and dismissal of senior management, linking compensation to company and individual performance[140] - The company maintained transparency by disclosing information through designated media such as Securities Times, China Securities Journal, and cninfo.com.cn[140] - The company's governance practices were in compliance with Chinese laws, regulations, and CSRC requirements, with no significant differences[141] Compensation and Benefits - The company's independent directors receive an annual allowance of RMB 100,000 (tax included), as approved by the 2019 annual shareholders' meeting[160] - Non-independent directors who do not hold positions within the company are compensated according to the independent director standard[160] - Directors, supervisors, and senior management who hold positions within the company are compensated based on their job positions without additional payments[160] - The compensation for directors and supervisors is initially reviewed by the Board's Compensation and Assessment Committee, then submitted to the Board and Supervisory Committee for approval, and finally approved by the shareholders' meeting[160] - The compensation for senior management is reviewed by the Board's Compensation and Assessment Committee and then approved by the Board[160] Industry Performance - The tobacco industry achieved a total industrial and commercial tax profit of RMB 1,441.3 billion in 2022, a year-on-year increase of 6.12%, and a fiscal revenue of RMB 1,441.6 billion, a year-on-year increase of 15.86%, both reaching historical highs[114]