GREAT RIVER SMARTER(SZ:002930)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,263,151,128.72, representing a 16.10% increase compared to ¥1,087,962,895.92 in 2021[20]. - The net profit attributable to shareholders for 2022 was ¥223,664,948.06, a decrease of 17.63% from ¥272,231,630.63 in 2021[20]. - The net profit after deducting non-recurring gains and losses was ¥204,800,153.73, down 22.71% from ¥264,990,883.83 in 2021[20]. - The net cash flow from operating activities increased by 8.98% to ¥848,769,227.11 in 2022 from ¥779,162,949.85 in 2021[20]. - Total assets at the end of 2022 reached ¥9,160,914,416.51, a 32.92% increase from ¥6,886,883,373.49 at the end of 2021[20]. - The company's basic earnings per share for 2022 was ¥0.50, down 18.03% from ¥0.61 in 2021[20]. - The weighted average return on equity for 2022 was 9.36%, a decrease of 2.80% from 12.22% in 2021[20]. - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was CNY 894 million, up 10.21% compared to the previous year[50]. - The company reported a revenue of approximately 1.2 billion USD for the period, with a net profit of around 21.2 million USD, reflecting a significant operational scale[95]. Dividend Distribution - The company plans to distribute a cash dividend of 3 RMB per 10 shares to all shareholders, based on a total of 452,237,085 shares[4]. - The cash dividend represents 100% of the total profit distribution amount[154]. Industry Overview - The petrochemical logistics industry faced significant challenges in 2022, with a reported revenue of ¥16.56 trillion, a year-on-year increase of 14.4%[30]. - The overall demand for petrochemical storage services decreased abnormally in 2022 due to complex internal and external factors[30]. - The petrochemical storage and logistics market in China is expected to remain robust due to significant demand for storage and transportation, driven by regional imbalances in production and consumption[31]. - The industry faces increasing regulatory scrutiny, with stricter environmental and safety regulations limiting new project approvals and increasing operational requirements for storage facilities[32]. - High entry barriers exist in the petrochemical storage industry due to the need for specialized resources, qualifications, and lengthy construction periods, making it difficult for new entrants[32]. - The market concentration in the petrochemical storage industry is increasing, with larger companies benefiting from economies of scale, enhancing service quality and customer loyalty[34]. - The industry is accelerating its transition towards digitalization and intelligence, leveraging modern information technologies to improve efficiency and reduce costs[34]. Company Strategy and Operations - The company operates as an innovative comprehensive service provider for petrochemical logistics, focusing on integrated services including terminal tank services and chemical warehouse services[35]. - The company has developed a cluster advantage by providing value-added services, enhancing customer stickiness and creating a solid foundation for innovative development[38]. - The company maintains a dual-track development strategy focusing on terminal tank storage and chemical warehouse services, supported by continuous mergers and acquisitions[38]. - The company emphasizes a strong corporate culture and continuous innovation as core competitive advantages, enhancing its ability to provide personalized quality services[39]. - The company is focusing on integrating scarce resources to provide specialized warehousing services for the chemical industry, as part of its strategic development direction[50]. - The company is committed to building a sustainable petrochemical logistics service system, leveraging its cluster, synergy, and brand effects[101]. - The company aims to enhance its comprehensive storage service capabilities while increasing the scale of its operations through self-construction and acquisitions[101]. Research and Development - The company has 107 patents, including 10 invention patents and 97 utility model patents, indicating strong innovation capabilities[46]. - R&D investment amounted to ¥25,967,491.67 in 2022, representing a 27.84% increase compared to ¥20,312,774.61 in 2021, and accounting for 2.06% of operating revenue[67]. - The number of R&D personnel increased by 45.00% from 120 in 2021 to 174 in 2022, with a proportion of 11.05% of total employees[67]. - The company is developing a smart inspection robot for warehouses, aiming to improve inspection efficiency and safety management[63]. - A smart customer service system is being integrated to enhance operational efficiency and provide value-added services to clients[63]. Mergers and Acquisitions - The company expanded its business through mergers and acquisitions, including acquiring 100% of Longxiang Group and 90% of Cangzhou Jiahui in 2022[59]. - The company acquired Longxiang Group for CNY 1,251,516,265.54, holding 100% equity, which is expected to enhance its storage service capabilities[82]. - The company also acquired Cangzhou Hongchuan for CNY 113,380,000.00, holding 90% equity, further expanding its logistics services[82]. - The company has a strong merger and acquisition execution capability, supported by a professional management team and efficient communication[45]. Corporate Governance - The company has established a complete corporate governance structure, including a board of directors, supervisory board, and management team[121]. - The board of directors consists of 7 members, including 3 independent directors, which meets legal requirements[110]. - The company has maintained a good governance status during the reporting period, adhering to relevant regulatory requirements[113]. - The company has implemented a transparent performance evaluation and incentive mechanism for directors and senior management[112]. - The company has established independent labor and personnel management systems, ensuring independence in employee management[115]. Environmental Compliance - The company strictly adheres to environmental regulations and has obtained pollution discharge permits for its subsidiaries, with validity extending to 2026 for some[174]. - The company reported a total wastewater discharge of 1.578 tons, with a maximum allowable discharge of 2.898 tons, indicating compliance with the Guangdong Province water pollution discharge limits[176]. - The company’s boiler emissions included 0.34 tons of particulate matter, significantly below the annual limit of 1.28 tons as per the boiler air pollutant discharge standards[176]. - The company has implemented various internal management and control systems to ensure compliance and effective risk management[169]. Employee Management - The total number of employees at the end of the reporting period was 1,575, with 1,567 from major subsidiaries[148]. - The company has a management trainee program and internal university to cultivate professional and innovative business talents[150]. - The company has established a three-tier safety training system to enhance employee safety awareness and emergency response capabilities[150]. - The company emphasizes safety production training, requiring employees to pass comprehensive training assessments before being allowed to work[150]. Future Outlook - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for the next quarter, representing a 25% increase[128]. - The company is exploring potential acquisitions to enhance its supply chain capabilities, with a budget of 500 million RMB allocated for this purpose[128]. - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by 20% by 2025[128].