SNS(SZ:300470)2024-08-29 09:09Dividend Distribution - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders, with no bonus shares issued[3]. - The company distributed a cash dividend of 5 yuan for every 10 shares, totaling 101,775,368.50 yuan during the reporting period, and plans to continue this in the 2024 semi-annual period with an expected total of 101,679,368.50 yuan[28]. - The total cash dividend for the 2024 semi-annual period, including buybacks and cash dividends, is projected to be 173,112,649.94 yuan, representing 99.81% of the net profit attributable to shareholders[28]. - The company's profit distribution plan was approved by the board and complies with legal and regulatory requirements[84]. - The company’s independent directors have reviewed and approved the profit distribution plan, ensuring the protection of shareholders' rights[84]. Financial Performance - The company's operating revenue for the first half of 2024 was CNY 723,937,960.80, representing an increase of 18.08% compared to CNY 613,105,616.78 in the same period last year[13]. - The net profit attributable to shareholders was CNY 173,434,432.47, up by 7.64% from CNY 161,119,834.62 year-on-year[13]. - The basic earnings per share increased to CNY 0.8451, reflecting a growth of 7.30% compared to CNY 0.7876 in the previous year[13]. - The total assets at the end of the reporting period were CNY 3,039,375,716.06, a slight increase of 0.31% from CNY 3,029,973,183.20 at the end of the previous year[13]. - The net cash flow from operating activities was CNY 159,961,796.99, reflecting a 12.50% increase compared to CNY 142,182,715.52 in the previous year[13]. Market Expansion and Strategy - The company is focused on expanding its market presence in the petrochemical and coal chemical industries, targeting both incremental and existing markets[7]. - The company expects significant market demand driven by new domestic refining capacities projected to reach approximately 1 billion tons/year by 2025[19]. - The international market has shown rapid growth over the past two years, with expectations for continued high-speed growth in the coming years[19]. - The company is actively developing new sealing technologies, including high-parameter mechanical seals and smart monitoring systems[6]. - The company is committed to maintaining transparency and accuracy in its financial disclosures, as affirmed by its board and management[2]. Research and Development - The company has reported a significant focus on R&D for new products to enhance its competitive edge in the market[6]. - The company invested approximately 33.5 million yuan in R&D, accounting for about 4.63% of its revenue, and achieved significant progress in key national R&D projects[27]. - The company has filed for 10 new patents during the reporting period, including 6 invention patents, reflecting its commitment to innovation and technology advancement[27]. - The company has developed a new product for large screw compressors, achieving full domestic production for the first time in the market, enhancing its competitive position[31]. - The company emphasizes technology innovation and has a complete high-end product line in the sealing industry, supported by significant R&D investment and multiple core patents[30]. Risk Management - The company has a comprehensive risk management strategy outlined in the report, addressing potential operational risks[2]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments to mitigate investment risks[2]. - The company is facing risks related to macroeconomic fluctuations that could impact profitability, particularly in the oil and chemical sectors[74]. - The company aims to mitigate risks by diversifying markets and enhancing product promotion in sectors like oil and gas transportation and nuclear power[74]. - High accounts receivable levels pose risks of bad debts and liquidity challenges[74]. Corporate Governance and Compliance - The company is committed to continuous recruitment and training of technical and R&D personnel to meet the demands of its growing business, particularly in its subsidiary New Dipei[75]. - The company emphasizes strict quality control to prevent safety incidents related to product quality issues[74]. - The company has implemented a strict anti-corruption policy with suppliers, ensuring fair and honest business practices[96]. - The company has established a commitment to avoid fund occupation and will not use funds in a manner that harms the interests of Nichi Kogyo Co., Ltd. or its minority shareholders[101]. - The company has committed to ensuring that related party transactions are conducted at fair market prices, comparable to those with independent third parties[101]. Environmental Responsibility - The company achieved compliance with wastewater discharge standards, with chemical oxygen demand at 263 mg/L, suspended solids at 127 mg/L, and five-day biochemical oxygen demand at 161 mg/L[89]. - The company has maintained a consistent record of meeting environmental discharge standards across various pollutants, including non-methane total hydrocarbons and particulate matter[90]. - The company has implemented corrective measures to ensure compliance with environmental regulations, although no specific penalties were reported[88]. - The company invested 57,272 RMB in environmental governance and protection, while paying environmental protection tax was not applicable[92]. - The company has established a robust emergency response plan for environmental incidents, with recent revisions and filings[92]. Employee Development - The company has established a comprehensive training system, with a focus on continuous improvement based on feedback, to enhance the professional quality of its workforce[30]. - The company has received multiple honors for its skilled workers, including "Zhuge Craftsman" and "Sichuan Craftsman" titles[94]. - The company has a total of 1,600 employees, providing economic security for their families and stable orders for over 700 suppliers[93]. - As of the end of the reporting period, 69.70% of employees hold a college degree or higher, including 8 senior engineers and 57 engineers across various fields[30]. - The company is enhancing its incentive systems to align employee interests with corporate growth, aiming to retain key talent through equity incentives[75]. Financial Management - The company has a total of ¥44,575.66 million in raised funds, with ¥586.9 million invested during the reporting period and a cumulative investment of ¥45,273.91 million[56]. - The company has fully utilized the raised funds, with no remaining balance as of the report date[60]. - The company aims to improve operational efficiency and reduce operating costs comprehensively[106]. - The company plans to enhance revenue and profitability by increasing investment in technology and R&D, aiming to maintain its industry-leading position[105]. - The company will strictly execute its dividend policy to optimize the investment return mechanism[106]. Shareholder Engagement - The company held its annual general meeting on May 17, 2024, with a participation rate of 47.20%[81]. - The company conducted multiple investor relations activities throughout the reporting period, including meetings on April 25, May 9, and May 31, 2024[79][80]. - The company is actively engaging with investors through various platforms, including remote online meetings[79]. - The company will communicate with minority shareholders to gather their opinions before finalizing dividend proposals[100]. - The company is committed to ongoing research and development of new products and technologies, aligning with market demands[80].