TOND(002360)2024-04-15 11:56Dividend Distribution - The company plans to distribute a cash dividend of 1.86 RMB per 10 shares to all shareholders, based on a total of 401,774,248 shares[3]. - The company plans to distribute a cash dividend of 1.86 RMB per 10 shares (including tax), based on a total share capital of 401,774,248 shares, amounting to a total cash dividend of 74,730,010.13 RMB[146]. - The total distributable profit for the company is 1,305,187,955.66 RMB, with the cash dividend representing 100% of the profit distribution[147]. Financial Performance - The company's operating revenue for 2023 was ¥964,081,306.24, a decrease of 11.56% compared to ¥1,090,095,464.82 in 2022[21]. - Net profit attributable to shareholders for 2023 reached ¥438,045,395.66, representing a significant increase of 138.10% from ¥183,977,760.35 in 2022[21]. - The basic earnings per share for 2023 was ¥1.09, up 136.96% from ¥0.46 in 2022[21]. - The total assets at the end of 2023 amounted to ¥3,901,687,778.47, reflecting a growth of 29.99% from ¥3,001,505,600.79 at the end of 2022[21]. - The net cash flow from operating activities for 2023 was ¥225,224,319.15, down 29.95% from ¥321,527,480.13 in 2022[21]. - The company's weighted average return on equity for 2023 was 23.11%, an increase of 11.30% compared to 11.81% in 2022[21]. - The net profit after deducting non-recurring gains and losses for 2023 was ¥151,249,505.08, a decrease of 18.55% from ¥185,685,843.18 in 2022[21]. - The company reported a total of ¥286,795,890.58 in non-recurring gains for 2023, compared to a loss of ¥1,708,082.83 in 2022[29]. Business Operations - The company has not reported any changes in its main business operations since its listing[20]. - The company has maintained its registered address and has not experienced any changes in its controlling shareholders[20]. - The company has not made any changes to its registered address since its establishment[20]. - The company operates under the supervision of the China Securities Regulatory Commission and the Shenzhen Stock Exchange[17]. - The company operates in the civil explosives industry, which is crucial for various sectors including mining and construction, highlighting its importance in the national economy[33]. Market and Industry Insights - The company is positioned as a leading player in the domestic civil explosives industry, focusing on integrated solutions and maintaining a strong market presence[40]. - The company aims to reduce the number of production enterprises in the industry to below 50 by 2025, with the top 10 companies accounting for over 60% of the industry’s total production value[39]. - The civil explosives industry is experiencing investment slowdowns due to environmental regulations, which may affect the company's competitive advantage[103]. Strategic Initiatives - The company is actively pursuing a project to produce 60,000 tons of biodegradable plastics (PBAT) and 240,000 tons of 1,4-butanediol (BDO), expected to commence trial production around October 2024[40]. - The biodegradable plastic project aligns with national policies promoting new technologies and materials, enhancing product value and market competitiveness[44]. - The company is expanding its production capacity with a new project for biodegradable plastics, which involves significant investment and potential market risks[107]. Risk Management - The company acknowledges various risks including macroeconomic and policy risks, raw material price fluctuations, and intensified market competition[3]. - The company is managing raw material price volatility risks, particularly for ammonium nitrate, through improved supplier management and procurement strategies[101]. - Financial risks are associated with the new project, potentially impacting liquidity and increasing financial costs[108]. Governance and Compliance - The board of directors consists of 8 members, including 3 independent directors, complying with legal requirements[113]. - The company has established a comprehensive performance evaluation system for directors and senior management, ensuring transparency and fairness[113]. - The company maintains complete independence from its controlling shareholders in business, personnel, assets, and finance, ensuring stable operations[116]. - The company has implemented measures to enhance governance and internal control systems in compliance with relevant laws and regulations[154]. Employee Management - The company has a total of 1,521 employees, with 428 in production, 207 in sales, 488 in technical roles, 95 in finance, and 303 in administration[142]. - The company has implemented a training program that includes safety, financial skills, and emergency response training for employees[144]. - The company has established a performance-based compensation system to enhance employee motivation and retention[143]. Shareholder Information - The total number of shares held by shareholders at the end of the reporting period was 401,774,110, representing 100% of the shares[196]. - The largest shareholder, Zhang Yunsheng, holds 19.93% of the shares, totaling 80,057,500 shares, with 39,800,000 shares pledged[199]. - The shareholder structure includes 18,268 shareholders at the end of the reporting period, an increase from 17,497 at the end of the previous month[198]. Financial Reporting and Audit - The company has appointed the same accounting firm for 14 consecutive years, with the current audit service fee being 1 million RMB[167]. - The internal control audit report issued a standard unqualified opinion, confirming effective financial reporting internal controls as of December 31, 2023[153]. - The company did not experience any changes in accounting policies or significant accounting errors compared to the previous year's financial report[164]. Social Responsibility - The company actively engages in social responsibility initiatives, including support for impoverished university students and community development projects[158].