DFD(002407)2024-03-28 16:00Financial Performance - The company's operating revenue for 2023 was ¥11,936,638,502.81, a decrease of 3.41% compared to ¥12,358,006,103.93 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥509,814,986.67, representing a significant decline of 73.83% from ¥1,948,064,917.99 in 2022[22]. - The net cash flow from operating activities was ¥330,175,446.98, down 81.17% from ¥1,753,086,803.30 in the previous year[22]. - The basic earnings per share for 2023 was ¥0.46, a decrease of 74.73% compared to ¥1.82 in 2022[22]. - Total assets at the end of 2023 reached ¥22,795,588,146.91, an increase of 24.99% from ¥18,238,509,724.61 at the end of 2022[22]. - The net assets attributable to shareholders increased by 43.51% to ¥9,312,830,619.65 from ¥6,489,333,129.84 in 2022[22]. - The company reported a total revenue of 11.937 billion yuan for the reporting period, which remained stable compared to the previous year, while the net profit attributable to shareholders decreased by 73.83% to 510 million yuan[57]. - Revenue from the industrial sector was ¥9,782,928,735.52, accounting for 81.96% of total revenue, down 3.57% from the previous year[75]. - Revenue from electronic information materials surged by 78.82% to ¥1,238,540,416.25, while revenue from new energy materials dropped by 27.62% to ¥4,794,904,718.92[75]. - Domestic revenue decreased by 6.08% to ¥9,844,179,115.48, while international revenue increased by 11.53% to ¥2,092,459,387.33[75]. - Gross profit margin for the industrial sector was 14.91%, down 21.52% year-on-year[78]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 3 RMB per 10 shares to all shareholders, based on a total of 1,170,821,858 shares[4]. - The total cash dividend, including other methods, amounts to RMB 530,608,466.20, fully utilizing the distributable profit of RMB 2,681,969,717.62[195]. - The cash dividend policy has been executed well, with a total cash dividend amounting to RMB 351,246,557.40, representing 100% of the profit distribution[194]. - The company has not proposed a cash dividend distribution plan despite positive profits available for distribution, indicating a focus on reinvestment[195]. Market Position and Growth Opportunities - The demand for the company's fluorine-based new materials is expected to grow due to rapid developments in the new energy and semiconductor industries[31]. - The company is positioned as a leader in the inorganic fluorine chemical sector, benefiting from national policies promoting the use of anhydrous aluminum fluoride[32]. - The company achieved a significant milestone by becoming one of the few global producers of high-quality semiconductor-grade hydrogen fluoride, with bulk supply to leading semiconductor manufacturers like TSMC and Samsung[34]. - The lithium battery market in China is projected to exceed 1,100 GWh in shipments in 2024, representing a year-on-year growth of 27%, with power battery shipments expected to surpass 820 GWh, growing by 20%[39]. - The company anticipates a significant market opportunity in electronic information materials, driven by the rapid development of AI, 5G technology, and quantum computing applications[35]. - The company is well-positioned to benefit from the increasing demand for energy storage solutions, with national policies aiming for a new energy storage capacity of over 30 million kilowatts by 2025[42]. - The company is actively expanding its market presence in the sodium-ion battery sector, with a cumulative production capacity of 8.5 GWh for both lithium-ion and sodium-ion batteries[43]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[157]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by 2025[162]. Research and Development - The company plans to increase R&D investment and production capacity to maintain its leading position in the electrolyte industry[40]. - The company has filed 1,340 patents, with 843 granted, including 224 invention patents, and has led the development of over 100 national and industry standards[49]. - The company is focusing on the development of new technologies for semiconductor processes below 28nm and is adapting its products to meet evolving industry standards[64]. - The company is investing 200 million CNY in R&D for new technologies aimed at improving product efficiency and sustainability[162]. - R&D investment increased to ¥558,859,463.34 in 2023, up 11.55% from ¥500,980,223.02 in 2022, representing 4.68% of revenue[93]. - The company has developed new solid electrolyte materials suitable for lithium-ion batteries, significantly shortening the R&D cycle and reducing costs[90]. - The company is focusing on expanding its market presence through the development of new products and technologies, ensuring alignment with national industry development trends[91]. Production Capacity and Operations - The production capacity for anhydrous aluminum fluoride is 330,000 tons/year with a utilization rate of approximately 60%[45]. - The production capacity for lithium hexafluorophosphate is 65,000 tons/year with a utilization rate of approximately 70%, and there is an ongoing construction project for an additional 40,000 tons/year[45]. - The production capacity for electronic-grade hydrogen fluoride is 60,000 tons/year with a utilization rate of approximately 90%, with a project under construction for an additional 20,000 tons/year[45]. - The production capacity for new energy batteries is 8.5 GWh/year with a utilization rate of approximately 35%, and a 20 GWh lithium battery project is currently under construction[45]. - The company has established a production line for new electrolyte materials, including lithium bis(fluorosulfonyl)imide (LiFSI) and sodium hexafluorophosphate (NaPF6), positioning itself among the industry leaders[40]. - The company has successfully commercialized sodium hexafluorophosphate, which is expected to see broader applications as sodium-ion battery technology advances[67]. Strategic Initiatives and Partnerships - The company has established long-term cooperation agreements with over 30 institutions, including Tsinghua University and the Chinese Academy of Sciences, to promote innovation and technology transfer[49]. - The company is engaging in strategic collaborations with upstream and downstream partners to foster innovation and expand its customer base both domestically and internationally[129]. - The company is actively exploring potential mergers and acquisitions to bolster its market position[157]. - The company has established long-term partnerships with numerous domestic and international semiconductor enterprises, indicating a strong market position and growth potential[63]. Governance and Management - The company has three independent directors, accounting for one-third of the total board members, all of whom are female[141]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and managers[145]. - The company has a complete and independent production, supply, and sales system, allowing it to independently formulate marketing strategies[145]. - The company has a governance structure that operates independently from the actual controller, ensuring compliance with legal regulations[148]. - The company is committed to maintaining the legitimate rights and interests of stakeholders, promoting balanced development among all parties[144]. Environmental and Social Responsibility - The company intends to implement ESG principles, enhancing social responsibility and environmental sustainability in its operations[127]. - The project for the efficient utilization of by-product fluorosilicon resources has been recognized as a national advanced manufacturing initiative, highlighting its commitment to sustainable practices[61]. Employee Development and Training - The total number of employees at the end of the reporting period is 7,864, with 2,640 in the parent company and 5,224 in major subsidiaries[186]. - The company conducted 837 training sessions during the reporting period, achieving a completion rate of 100%[189]. - The company plans to enhance employee loyalty and professional skills through systematic training programs[189]. - The leadership academy has conducted 8 sessions of the "New Feather Plan," improving the leadership skills of 109 trainees[191]. Future Outlook - The company has set a future outlook with a revenue target of 1.8 billion CNY for 2024, indicating an expected growth rate of 20%[162]. - The management has set ambitious performance guidance for the upcoming fiscal year, aiming for substantial growth[156].