ZXFC(SZ:002915)2024-04-15 13:44Environmental Compliance and Management - The company has completed the rectification of issues identified in the special governance action as required by the Zhejiang Securities Regulatory Bureau[1]. - The company strictly adheres to various environmental protection laws and standards, including the Comprehensive Emission Standard of Air Pollutants (GB16297-1996) and the Wastewater Comprehensive Discharge Standard (GB8978-1996)[5]. - The company obtained the Pollutant Discharge Permit for the West Plant on August 17, 2023, valid until August 16, 2028, and for the East Plant on September 14, 2023, valid until September 13, 2028[8]. - The total wastewater discharge for the company is 24.07144 tons, with a chemical oxygen demand concentration of ≤500 mg/L, complying with the GB8978-1996 standard[12]. - The company reported a total of 7.934137 tons of VOCs emissions, with a concentration of 100 mg/m3, adhering to the DB33/310005-2021 standard[12]. - The company’s subsidiary, Gaobao Technology, reported a total wastewater discharge of 0.0876 tons for chemical oxygen demand, with a concentration of ≤100 mg/L, complying with GB 31573-2015[12]. - The company has implemented strict measures to ensure compliance with environmental standards, with no instances of exceeding discharge limits reported[12]. - The company is committed to environmental protection and has established a comprehensive environmental management system[5]. - The company’s subsidiaries also adhere to local environmental regulations and standards, ensuring compliance across all operations[6]. - The company continues to focus on sustainable practices and environmental responsibility in its business operations[5]. - The company has established wastewater treatment facilities with a design capacity of 150 m³/d and 500 m³/d in the East and West plants, respectively, utilizing advanced treatment processes[20]. - The West plant has added a new RTO exhaust treatment facility, ensuring compliance with environmental standards for exhaust emissions[21]. - The company has implemented a comprehensive solid waste management system, including hazardous waste storage facilities that meet regulatory requirements[22]. - The wastewater treatment system at the subsidiary, Gaobao Technology, has a design capacity of 600 m³/d, effectively treating both inorganic and organic wastewater[23]. - The company reported a total sulfur dioxide emission of 53.502 tons, which is below the regulatory limit of 400 mg/m³[19]. - The company achieved a chemical oxygen demand (COD) discharge of 0.878037 tons, adhering to the standard limit of 500 mg/L[19]. - The company has a total of 3 wastewater discharge points, ensuring effective management of wastewater across its facilities[19]. - The company has established a comprehensive environmental management system that includes rainwater and wastewater separation measures[23]. - The company’s hazardous waste storage facilities have been approved by environmental authorities, ensuring safe handling and disposal of hazardous materials[22]. - The company is committed to continuous improvement in environmental performance, with ongoing investments in new technologies and treatment processes[21]. - The company invested over ¥12.7187 million in environmental governance and protection during the reporting period[69]. - The company has implemented measures to reduce carbon emissions, including energy savings of 12,250 tons of standard coal annually after upgrading equipment[69]. - The company has established emergency response plans for environmental incidents, with plans submitted to local environmental protection authorities[61]. Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[41]. - The company's operating revenue for 2023 was ¥1,343,528,068.38, a decrease of 16.16% compared to ¥1,602,399,044.70 in 2022[51]. - The net profit attributable to shareholders for 2023 was -¥179,132,650.63, representing a decline of 204.40% from ¥171,585,281.23 in 2022[51]. - The net cash flow from operating activities was -¥199,141,335.95 in 2023, a decrease of 388.99% compared to ¥68,909,932.53 in 2022[51]. - The basic earnings per share for 2023 was -¥0.5738, down 201.74% from ¥0.5640 in 2022[51]. - The total assets at the end of 2023 were ¥3,191,156,380.44, an increase of 6.11% from ¥3,007,334,202.48 at the end of 2022[51]. - The net assets attributable to shareholders decreased by 14.40% to ¥1,484,092,908.60 at the end of 2023 from ¥1,733,740,481.24 at the end of 2022[51]. - In Q1 2023, the operating revenue was ¥292,124,448.80, with a net profit of ¥27,400,008.09, while Q4 2023 saw revenue rise to ¥425,978,204.09 but a net loss of -¥150,375,731.25[55]. - The company reported a non-operating loss from the disposal of non-current assets amounting to approximately 23.78 million yuan in 2023, compared to 2.01 million yuan in 2022[78]. - Government subsidies recognized in the current period amounted to approximately 8.59 million yuan, an increase from 6.05 million yuan in 2022[78]. - The company achieved a net profit margin of 12%, reflecting improved operational performance and cost management[41]. - The company has a stable core management team with over ten years of industry experience, enabling quick adjustments to business strategies in response to market changes[135]. Market Expansion and Product Development - User data indicates that the company has expanded its customer base by 20%, reaching over 500,000 active users[41]. - The company has set a future outlook with a revenue target of 1.5 billion RMB for the next fiscal year, indicating a projected growth of 25%[41]. - New product development includes the introduction of a third-generation refrigerant, which is expected to capture a 10% market share within the first year of launch[49]. - The company has successfully completed the acquisition of a 51% stake in Jiangxi Aikesheng New Materials Co., expanding its business into hydrogen fluoride and fluorine new energy materials[49]. - The company plans to enhance its market expansion strategy by entering Southeast Asian markets, aiming for a 15% increase in international sales[49]. - Research and development investments have increased by 30%, focusing on high-performance polymer materials and fluorinated compounds[49]. - The company has established a partnership with a leading technology firm to co-develop advanced fluorine materials, expected to launch by Q3 2024[49]. - The company is focusing on the development of new energy electronic chemicals and advanced refrigerants, which will significantly enhance product technology content and added value[1]. - The company has established a complete fluorochemical industry chain, including raw materials like fluorite and hydrofluoric acid, enhancing its competitive advantage[1]. - The company is actively expanding its market presence and enhancing its marketing service system in both domestic and international markets[138]. - The company is committed to continuous technological innovation and investment in key projects to extend its industry chain[141]. Research and Development - Company has maintained R&D investment at approximately 4% of sales revenue in recent years, with an increase in absolute terms despite a slight decrease in percentage[126]. - A total of 13 invention patents and 1 utility model patent were applied for during the reporting period, with 4 invention patents and 1 foreign invention patent granted[126]. - Cumulative ownership of 48 national invention patents, 4 foreign invention patents, and 2 utility model patents by the end of the reporting period[126]. - Company is recognized as a key high-tech enterprise under the National Torch Program and has established a provincial-level research institute[126]. - Company has received 5 provincial-level technology achievement appraisals during the reporting period[126]. - Company has implemented ISO9001, ISO14001, and ISO45001 management system certifications to enhance product quality and labor efficiency[126]. - Advanced research and testing equipment, including German microreactors and liquid chromatography, has been introduced to improve product design capabilities[126]. - Company has an independent analysis and testing center equipped with comprehensive experimental facilities[126]. - The company has completed several key R&D projects aimed at optimizing production processes and enhancing product competitiveness[170]. - The company is actively developing new products and optimizing existing processes to enhance market competitiveness and increase sales revenue[170]. Operational Efficiency and Cost Management - The company has implemented a new strategy to improve operational efficiency, targeting a reduction in production costs by 5% over the next year[49]. - The energy procurement price accounts for over 30% of the total production cost, indicating significant cost management focus[93]. - The company has implemented a technology upgrade in its production process, improving resource utilization efficiency and reducing waste emissions[93]. - The company is focusing on enhancing supply chain management and improving operational efficiency to support strategic development in 2024[99]. - The company is implementing a digital transformation and smart manufacturing to improve operational efficiency and reduce costs[136]. - The company is actively monitoring raw material prices, which significantly impact operating costs and profit margins, and is taking measures to control procurement costs[104]. Challenges and Risks - The company is facing risks related to concentrated customer and sales regions, which could impact performance if market conditions change unfavorably[100]. - The main reasons for the performance decline were a drop in downstream market demand and intensified industry competition, with prices and volumes for agricultural and pharmaceutical products falling[138]. - The company experienced a significant reduction in the production of agricultural chemical products by 31.32%, primarily due to decreased orders and market conditions[160]. Financial Management and Investments - The company raised a total of RMB 441,849,999.80 through the issuance of 25,914,956 shares at an issue price of RMB 17.05 per share, with net proceeds amounting to RMB 433,107,367.75 after deducting fees[192]. - The company has fully utilized the raised funds, with a total of RMB 442,291,684.46 used by the end of the reporting period, leaving a balance of RMB 0.00[192]. - The fluorochemical series expansion project has achieved an investment progress of 102.16%, with a cumulative investment of RMB 29,815.33 million against a commitment of RMB 29,185 million[193]. - The annual production project of 5,000 tons of 4,4'-difluorobenzophenone has reached an investment progress of 101.95%, with a cumulative investment of RMB 10,195.15 million against a commitment of RMB 10,000 million[193]. - The company reported a total loss of RMB 2,329.47 million from the committed investment projects during the reporting period[193]. - The company has not engaged in any securities or derivative investments during the reporting period[188]. - The company has not sold any significant assets during the reporting period[196]. - There are no changes in the feasibility of the fundraising projects, and all projects are proceeding as planned[193]. - The company has not reported any issues or problems regarding the use and disclosure of raised funds[195]. - The company has not made any changes to the investment projects funded by the raised capital[195].