BBJX(BJ:430489)2023-08-28 16:00Project Development - The company successfully completed the trial production of the first phase of the 10,000 tons/year diacid ester project, expanding its product range [5]. - The first phase of the 15,000 tons/year biodegradable material functional additives project has commenced construction, with civil works nearly completed and installation expected to finish within the year, aiming for profitability in 2024 [5]. - The company has successfully completed the construction of the first phase of the dicarboxylic acid ester project, with an annual production capacity of 10,000 tons, now entering trial production [41]. - The company has initiated the construction of the first phase of biodegradable materials functional additives project, with an annual production capacity of 15,000 tons, currently in the equipment installation phase [41]. - The company is expanding its product range by constructing projects for the annual production of 10,000 tons of diacid esters and 15,000 tons of biodegradable functional additives [78]. Financial Performance - The company reported a revenue of CNY 254.80 million, a decrease of 12.52% compared to the same period last year [28]. - Net profit attributable to shareholders was CNY 20.32 million, down 44.33% year-on-year [28]. - The company's gross profit margin decreased to 17.05% from 19.78% in the previous year [28]. - The company reported a significant reduction in short-term borrowings, decreasing from CNY 160,372,823.05 to CNY 79,228,997.54, a decline of about 50.7% [114]. - The net profit for the current period is ¥20,562,810.18, down 48.21% from ¥39,704,993.79 in the previous year [54]. - The company reported a total operating cash inflow of CNY 140,372,589.06, compared to CNY 75,330,570.30 in the same period last year, marking an increase of 86.5% [130]. Shareholder Returns - A cash dividend of 2 RMB (including tax) per 10 shares was distributed to all shareholders, totaling 27,291,840 RMB [7]. - The company distributed cash dividends of 2 yuan (including tax) per 10 shares, totaling 27,291,840 yuan to shareholders during the reporting period [42]. Research and Development - The company added 5 invention patents and 11 utility model patents, bringing the total to 137 patents, including 23 invention patents [9]. - The company has increased its research and development efforts to diversify its product applications and create new profit growth points [77]. - The company’s research and development expenses decreased by 12.63% to ¥9,426,511.30, maintaining a steady percentage of 3.70% of total revenue [53]. Environmental Responsibility - The company achieved a 100% compliance rate for wastewater and waste gas emissions, enhancing its environmental management capabilities [40]. - The company has implemented significant environmental protection measures, including a wastewater treatment facility with a daily capacity of 2,000 tons and an organic waste incineration system [74]. - The company is committed to improving its environmental governance capabilities in response to stricter environmental regulations [78]. Market Challenges - The company faced challenges due to a slowdown in the consumer market and weak demand in the PVC industry, impacting revenue and profit [38]. - The gross profit margin has decreased by 2.73 percentage points to 17.05%, primarily due to lower sales prices [55]. - The company is positioned to benefit from the growing demand for environmentally friendly stabilizers and additives due to regulatory changes in the PVC industry [43]. Corporate Governance - The company has established a wholly-owned subsidiary, Anhui Jiaxian Environmental Technology Co., Ltd., with a registered capital of 50 million RMB [8]. - The company appointed Chen Yingzhou as an independent director on February 17, 2023, following the resignation of Zhu Xiaozhe due to personal reasons [107]. - The board of directors consists of 7 members, while the supervisory board has 3 members, and there are 5 senior management personnel [105]. Operational Efficiency - The company has implemented cost control measures and expanded production capacity to mitigate the impact of declining sales prices [39]. - The company has implemented a fully automated packaging line, improving product quality and production efficiency while reducing labor costs [40]. - The company has implemented energy-saving measures, including steam condensate reuse and benzene acid recovery, resulting in significant cost reductions and efficiency improvements [41]. Asset Management - Total assets increased by 3.14% to CNY 971.22 million, while total liabilities rose by 9.13% to CNY 431.16 million [29]. - The company's net asset attributable to shareholders decreased by 1.29% to CNY 512.63 million [29]. - The company’s total equity at the end of the reporting period was CNY 522,296,783.64, reflecting an increase from the previous period [138]. Employee Management - The total number of employees decreased from 295 to 284, with a net reduction of 11 employees during the reporting period [110]. - The number of management personnel increased from 17 to 18, while production personnel decreased from 200 to 182 [110]. - The proportion of employees with a bachelor's degree rose from 28 to 37, indicating an increase in educational qualifications among staff [110].