YONGDONG(002753)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was ¥4,504,020,765.79, representing a 19.82% increase compared to ¥3,759,016,832.64 in 2021[22] - The net profit attributable to shareholders of the listed company decreased by 87.58% to ¥39,383,698.89 from ¥317,162,743.95 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,045,534.80, down 88.14% from ¥312,465,256.81 in 2021[22] - The basic earnings per share fell to ¥0.1049, a decrease of 87.58% from ¥0.8448 in the previous year[22] - The total profit for 2022 was CNY 39,321,377.97, a decline of 88.79% compared to the previous year[50] - The net profit attributable to shareholders was CNY 39,383,698.89, down 87.58% year-on-year[50] - The total sales from the top five customers amounted to ¥1,108,165,794.43, representing 24.69% of the annual sales total, with no related party sales included[59] Assets and Liabilities - The total assets at the end of 2022 were ¥3,353,566,459.88, an increase of 17.83% from ¥2,846,075,345.23 at the end of 2021[22] - The net assets attributable to shareholders of the listed company slightly decreased by 0.62% to ¥2,203,225,463.29 from ¥2,217,057,724.91 in 2021[22] - Liabilities increased by 82.88% to CNY 1,150,340,996.59 compared to the end of the previous year[46] - The company's total assets at the end of 2022 amounted to 3,348,000,000 CNY, with inventory constituting 19.22% of total assets, up from 12.20% at the beginning of the year, reflecting a significant increase due to rising raw material prices[71] Cash Flow - The net cash flow from operating activities was negative at -¥253,932,007.28, a significant decline of 716.91% compared to ¥41,162,219.54 in the previous year[22] - The operating cash flow showed negative values throughout the year, with Q4 recording a net cash outflow of ¥51.29 million, highlighting ongoing cash flow challenges[26] - The company's total operating cash inflow increased by 39.90% to ¥2,339,938,334.20, while cash outflow rose by 59.00% to ¥2,593,870,341.48[65] - The cash and cash equivalents decreased by ¥35,899,388.54, a decline of 297.05% compared to the previous year[66] Production and Market Environment - The total production of carbon black in the industry decreased by 3.82% year-on-year to 4.71 million tons in 2022, reflecting a challenging market environment[33] - The average price of coal tar, a key raw material, increased by 48.58% in the first half and 38.25% in the second half of 2022, significantly impacting production costs[39] - The automotive industry showed resilience with a 3.4% increase in production and a 2.1% increase in sales in 2022, which is expected to drive demand for carbon black[37] Strategic Initiatives - The company aims to enhance its product offerings by focusing on high-end carbon black products and expanding into new materials, which is crucial for its growth strategy[35] - The company has implemented cost control measures and management strategies to mitigate the impact of rising raw material prices and maintain operational efficiency[33] - The company is focused on extending its product line into high-end carbon black and fine chemical products, which are expected to have high added value[42] - The company plans to invest in projects such as a 15,000 tons/year phenolic resin project and a 500,000 tons/year coal tar deep processing project[91] Research and Development - Research and development expenses rose by 24.73% to ¥55,654,232.49, primarily due to increased prices of raw materials[62] - The total R&D investment reached ¥142,300,018.86, marking a year-on-year increase of 21.40%[63] - The number of R&D personnel increased by 9.35% to 117, with a notable rise in the number of staff aged 30-40 years[63] - The company has ongoing R&D projects aimed at enhancing product quality and expanding market share, with several projects already completed[62] Governance and Compliance - The company has established a complete governance structure, including a shareholders' meeting, board of directors, and supervisory board, which operate independently from shareholders[108] - The company has an independent financial accounting department and internal audit department, with a financial management system that is separate from controlling shareholders[109] - The company ensured compliance with information disclosure regulations, providing timely and accurate information to investors[101] - The company has established a framework for ongoing compliance with the latest legal and regulatory requirements[143] Environmental Responsibility - The company is committed to environmental protection and compliance with regulations, but rising environmental standards may increase operational costs and affect profitability[86] - The company has implemented continuous training for its directors and senior management on securities market laws and regulations to enhance compliance awareness[143] - The company has established a hazardous waste management system, including a temporary storage facility and agreements with local companies for proper disposal and utilization[151] - In 2022, the company invested a total of 50.97 million yuan in environmental protection, with operational costs of 23.59 million yuan and new fixed assets of 27.09 million yuan[153] Shareholder Engagement - The company held three shareholder meetings during the reporting period to discuss various operational and financial matters, including profit distribution and project investments[92] - The company’s profit distribution policy was strictly followed, ensuring clarity and completeness in the decision-making process[132] - The company plans to distribute a cash dividend of RMB 0.16 per 10 shares for the 2022 fiscal year, totaling RMB 79,593,467.37 for the previous year[132] - The company reported a cash dividend of 0.16 CNY per 10 shares (including tax), with a total cash dividend amounting to 6,712,381.55 CNY, representing 17.07% of the total distributable profit[134]