保立佳(301037) - 2023 Q4 - 年度财报

Financial Performance - The company achieved a revenue of 2.269 billion RMB in 2023, a year-on-year decrease of 28.25% due to a decline in sales volume and price of its main product, construction emulsions[4]. - The gross profit margin improved compared to the previous year, but the gross profit amount decreased by 36.87 million RMB year-on-year[4]. - The company reported a net loss attributable to shareholders of 31.2968 million RMB in 2023[4]. - The company's operating revenue for 2023 was ¥2,269,473,890.51, a decrease of 28.25% compared to ¥3,162,880,650.02 in 2022[28]. - The net profit attributable to shareholders for 2023 was -¥31,296,789.06, representing a decline of 645.51% from a profit of ¥5,737,154.48 in 2022[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥31,873,458.74, down 517.57% from ¥7,633,095.57 in the previous year[28]. - The basic earnings per share for 2023 was -¥0.3114, a decrease of 643.46% from ¥0.0573 in 2022[28]. - The total assets at the end of 2023 were ¥2,418,685,812.82, a decrease of 3.95% from ¥2,518,132,544.98 at the end of 2022[28]. - The net assets attributable to shareholders at the end of 2023 were ¥801,277,426.56, down 3.61% from ¥831,261,673.04 in 2022[28]. - The company reported a significant increase in operating revenue after deductions, amounting to ¥2,252,104,642.28 in 2023 compared to ¥2,987,757,519.41 in 2022[28]. Market and Industry Trends - Future industry trends are expected to stabilize and improve, driven by the elimination of outdated production capacity and the expansion of downstream applications[5]. - The demand for water-based acrylic emulsions is expected to increase due to urban renewal policies, with 5.37 million old residential communities undergoing renovation[45]. - The market for water-based acrylic emulsions is projected to benefit from infrastructure investments and the renovation of aging communities, enhancing demand in the coming years[43]. - The domestic market for water-based acrylic emulsions is highly competitive, with private enterprises holding approximately 80% of the production capacity[46]. - The industrial coatings sector is expected to shift towards water-based solutions, driven by stringent environmental policies and the transition from oil-based to water-based coatings[45]. Research and Development - The company plans to enhance profitability by adjusting sales strategies, optimizing supply chain layout, and increasing R&D efforts[7]. - The company has a total of 82 R&D personnel and has obtained 64 patents, including 41 invention patents[63]. - Research and development expenses increased by 36.55% to ¥70,028,644.44 in 2023, up from ¥51,282,671.69 in 2022[77]. - The company is focusing on developing environmentally friendly products, including a bio-based waterproof emulsion with over 30% bio-content[78]. - The company has developed multiple products in collaboration with a team of senior engineers and PhDs, focusing on low-formaldehyde and formaldehyde-free textile emulsions[51]. Environmental Compliance - The company holds an environmental discharge permit valid from June 2021 to May 2026, indicating compliance with environmental regulations[181]. - The company has achieved compliance with various emission standards, including a nitrogen oxide emission level of 9.82 mg/Nm³, which is below the limit of 100 mg/Nm³[182]. - The company has successfully maintained emission levels for volatile organic compounds (VOCs) below the regulatory threshold[182]. - The company has implemented multiple environmental protection laws, including the "Environmental Protection Law" revised in 2014, effective from January 1, 2015[180]. - The company has a comprehensive strategy for environmental management, aligning with national standards and regulations[180]. Governance and Management - The company has established a comprehensive governance structure, ensuring compliance with relevant laws and regulations, and enhancing operational transparency[120]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[121]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, and operations, with clear ownership of production-related assets[124]. - The company has implemented a performance evaluation system linking the compensation of directors and senior management to their work performance[121]. - The company is committed to balancing the interests of stakeholders, including shareholders, employees, and the community, to promote sustainable development[122]. Employee and Talent Management - The total number of employees at the end of the reporting period was 584, with 57 in the parent company and 527 in major subsidiaries[156]. - The company has a performance-based compensation system to encourage employees to enhance their professional capabilities and work performance[158]. - The company has established a training system based on a talent development plan, focusing on cultural, management, marketing, and production training[159]. - The company has a comprehensive approach to employee welfare, aiming to attract and retain talent, especially in technical fields[158]. - The company is actively seeking to enhance its governance structure through the appointment of experienced professionals in key roles[132]. Future Outlook and Strategic Initiatives - The company aims to enhance profitability and optimize capacity layout, focusing on inventory management and increasing the ratio of current production to sales[109]. - The company plans to expand its market share by optimizing differentiated marketing strategies based on product types and customer needs[111]. - The company is committed to continuous innovation and market expansion, leveraging its advanced R&D capabilities[50]. - The company plans to enhance cash flow management by improving accounts receivable collection and reducing reliance on commercial acceptance bills[115]. - The company aims to strengthen external collaborations and attract industry talent to address the technical barriers in new product development[114].