KAIMEITE GASES(SZ:002549)2018-04-17 16:00Financial Performance - The company's operating revenue for 2017 was CNY 428,285,775.30, representing a 58.60% increase compared to CNY 270,047,932.74 in 2016[22]. - The net profit attributable to shareholders for 2017 was CNY 51,887,485.84, a significant increase of 146.01% from CNY 21,091,523.61 in 2016[22]. - The net cash flow from operating activities reached CNY 151,952,160.62, up by 82.73% from CNY 83,154,828.36 in the previous year[22]. - The company achieved a basic earnings per share of CNY 0.0832, which is a 146.15% increase compared to CNY 0.0338 in 2016[22]. - The total assets at the end of 2017 were CNY 1,203,821,794.09, reflecting a 4.06% increase from CNY 1,156,875,630.65 at the end of 2016[22]. - The net profit excluding non-recurring gains and losses for 2017 was CNY 48,116,947.63, marking a 198.92% increase from CNY 16,096,804.65 in 2016[22]. - The company reported a weighted average return on equity of 5.95% for 2017, up from 2.43% in 2016[22]. - The operating profit reached CNY 65.44 million, reflecting a significant growth of 806.21% compared to the previous year[51]. - The company reported a net profit of 54,120,002.42 CNY for the current period, compared to 21,076,340.78 CNY in the previous period, reflecting a significant increase[102]. Dividend Policy - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares based on a total share capital of 623,700,000 shares as of December 31, 2017[5]. - The proposed cash dividend for 2017 is RMB 0.50 per share (including tax), totaling RMB 31,185,000.00, based on a total share capital of 623,700,000 shares[93]. - The cash dividend payout ratio for 2017 is 60.10% of the net profit attributable to shareholders[96]. - The company did not distribute any cash dividends in 2015 and 2016, with the 2016 cash dividend being RMB 1.00 per share, totaling RMB 56,700,000.00[95]. - The company has established a shareholder return plan for 2018-2020, which includes detailed procedures for profit distribution and cash dividends[92]. - The company’s total distributable profit at the end of 2017 was RMB 181,927,294.33, with a capital reserve of RMB 35,292,624.58[98]. - The company has maintained a transparent decision-making process for its cash dividend policy, ensuring the protection of minority shareholders' rights[94]. - The company’s board of directors has proposed the 2017 dividend plan to be submitted for approval at the annual shareholders' meeting[93]. - The company has not proposed any stock dividends for the 2017 fiscal year[95]. Production Capacity and Technology - The company has an annual production capacity of 410,000 tons of high-purity food-grade liquid carbon dioxide, making it the largest producer in China using chemical tail gas as raw material[32]. - The company has established production capacities for high-purity food-grade liquid carbon dioxide at various locations, including 100,000 tons/year in Anqing and 130,000 tons/year in Huizhou[32]. - The company plans to enhance its production capacity by investing in Hainan and Fujian, which will add 100,000 tons of carbon dioxide capacity annually[32]. - The company has developed a technology that increases the recovery rate of food-grade liquid carbon dioxide by at least 3% and reduces consumption by at least 5%[38]. - The company has achieved a purity level of 99.999% for carbon dioxide products through dynamic pressure reduction technology, significantly lowering energy consumption[36]. - The company has expanded its product offerings to include methane, carbon monoxide, hydrogen, and other gases, meeting diverse market demands[39]. - The company is actively developing new technologies for CO2 resource utilization, including the production of biodegradable plastics and other new materials[46]. Market and Customer Base - Approximately 45% of the company's product sales are to seasonal food and beverage customers, leading to potential fluctuations in sales performance based on seasonal demand[12]. - The company's profitability is closely linked to the economic environment, particularly the prices of liquid gases and hydrocarbons, which are correlated with crude oil prices[12]. - The company diversified its product offerings, including liquid carbon dioxide, dry ice, oxygen, nitrogen, and hydrogen, with liquid carbon dioxide accounting for 40.24% of total revenue[58]. - The company reported a 969.59% increase in revenue from oxygen and nitrogen gases, contributing to the overall growth[58]. - The company's revenue for the ecological protection and environmental governance industry reached ¥427.66 million, representing a year-on-year increase of 58.75%[60]. - The total sales volume in the ecological protection and environmental governance industry was 310,196.18 tons, reflecting a year-on-year growth of 19.75%[61]. Research and Development - The company aims to enhance product diversification and economic efficiency through successful R&D transformation, creating multiple industrialization platforms[37]. - Research and development efforts include enhancing the purity of food-grade carbon dioxide and optimizing liquid air separation processes[68]. - Research and development (R&D) investment increased by 34.20% to CNY 21.48 million in 2017, while the proportion of R&D investment to operating revenue decreased to 5.02% from 5.93%[69]. - The company has established a CO2 comprehensive utilization engineering technology research center, focusing on technology innovation and high-value product development[44]. - The company is engaged in research on CO2 capture and purification technologies, including capturing CO2 from flue gas and simplifying carbon capture processes to reduce costs[46]. Environmental Commitment - The company is committed to environmental protection and has developed technology for purifying and liquefying greenhouse gases, contributing to carbon reduction efforts[128]. - The company has achieved significant reductions in flue gas emissions through its proprietary technology, contributing to resource utilization and environmental protection[40]. Corporate Governance - The company has established a sound corporate governance structure in compliance with relevant laws and regulations, ensuring no violations occurred during the reporting period[180]. - The company maintains complete independence from its controlling shareholder in terms of business, assets, personnel, organization, and finance, with no competition or dependency issues[182]. - The company has an independent financial accounting department and a complete financial decision-making system, ensuring no interference from the controlling shareholder[184]. - The independent directors' suggestions have been adopted, contributing to improved internal control and decision-making processes[189]. - The audit committee held 4 meetings in 2017 and reviewed the company's financial reports and internal audit reports[191]. Shareholder Information - As of December 31, 2017, the actual controller holds 71.28% of the company's shares, which may influence decision-making and affect minority shareholders' interests[9]. - The largest shareholder, Haoxun Technology Co., Ltd., holds 64.51% of the shares, totaling 402,344,250 shares[153]. - The total number of ordinary shareholders at the end of the reporting period was 24,490, compared to 24,283 at the end of the previous month[152]. - The actual controller of the company is Zhu Enfu, who is also the chairman of Haoxun Technology Co., Ltd.[156]. Employee and Management Structure - The company employed a total of 537 staff, with 154 in the parent company and 383 in major subsidiaries[174]. - The professional composition of employees includes 182 production personnel, 102 sales personnel, and 115 technical personnel[174]. - The company has a strong management team with diverse expertise, including finance, engineering, and production management[165][167]. - The management team includes professionals with significant academic and practical experience in their respective fields[166][167]. Investment and Projects - The company has completed the construction of the carbon dioxide engineering technology research center project, which is now in the process of final acceptance[80]. - The project for the establishment of Hainan Kaimete Gas Co., Ltd. has a total investment of CNY 90 million, with actual cumulative investment reaching CNY 96.79 million, achieving 107.55% of the planned investment by September 30, 2016[83]. - The company has fully utilized all raised funds by December 31, 2017, with no remaining balance in the fundraising accounts[82]. - The company plans to conduct a major asset restructuring involving the acquisition of Shenzhen Xixi Network Technology Co., Ltd. and Shenzhen Songte High-tech Industrial Co., Ltd.[148].