Innovation and R&D - In 2023, the company obtained 3 new invention patents, including methods for producing zinc-aluminum alloy powder and a mobile storage device for zinc powder coatings [5]. - The project on key technology research for ultra-fine zinc-based materials received significant support from the Yueyang City government, highlighting its economic and ecological benefits [6]. - The company has successfully broken foreign technology barriers with its new product, sheet zinc powder, which has received customer recognition and is now in bulk supply [46]. - The company continues to focus on R&D investments to improve product quality and expand market presence [46]. - Research and development expenses rose by 29.34% to 18,688,660.03 CNY, indicating a commitment to enhancing product development [59]. - The company is focusing on developing zinc-based materials for energy storage batteries, including zinc-air, zinc-bromine, and zinc-manganese batteries [109]. - The company has completed the development of the re-screening ball mill line, which reduces on-site dust emissions and improves product yield, enhancing economic efficiency [88]. - The company has implemented PLC automatic control in several projects, enhancing production safety and operational efficiency [89]. - The company is in the research stage for a new high-pressure atomization production line for zinc-aluminum and zinc-magnesium alloy powders, aimed at broadening product structure [90]. Financial Performance - The company's operating revenue for 2023 was ¥547,389,182.28, a decrease of 6.47% compared to ¥585,241,848.56 in 2022 [27]. - The net profit attributable to shareholders for 2023 was ¥21,900,368.64, representing a 9.29% increase from ¥20,038,593.85 in 2022 [27]. - The gross profit margin improved to 9.67% in 2023 from 8.68% in 2022 [27]. - The company's cash flow from operating activities was ¥4,797,057.46 in 2023, a significant recovery from -¥14,866,735.59 in 2022 [29]. - The weighted average return on equity (ROE) decreased to 9.05% in 2023 from 14.50% in 2022 [27]. - The basic earnings per share (EPS) for 2023 was ¥0.35, down 12.50% from ¥0.40 in 2022 [27]. - The company reported a non-recurring profit of ¥9,668,546.19 in 2023, with a net amount after tax of ¥7,524,090.35 [36]. - The company received government subsidies and other income totaling 8 million yuan, an increase compared to the previous year [47]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 23.89% due to increased operating expenses [48]. Production and Capacity - The subsidiary Hunan New Welllink New Materials Co., Ltd. upgraded its production line to an annual capacity of 25,500 tons of ultra-fine zinc-based materials, recognized as a key project for digital transformation in Hunan Province [5]. - The Sichuan subsidiary's project for producing 32,000 tons of ultra-fine high-purity ZMP zinc-based materials successfully passed safety facility acceptance, enhancing production capacity and operational stability in the southwest region [5]. - The company aims to enhance its production capabilities through the construction of a new ultra-fine zinc powder production line with an annual capacity of 25,500 tons in Hunan [109]. - The company has completed the upgrade of the 9 horizontal furnace structure, improving combustion and heat transfer efficiency, and reducing production costs by over 5% [90]. - The company has completed the energy-saving and consumption-reduction project for the No. 8 horizontal furnace, achieving a significant reduction in natural gas consumption from 180 m³/t.Zn to 150 m³/t.Zn [91]. Market and Industry Trends - The demand for zinc powder in the coating industry is approximately 60% of the total market demand, with significant applications in anti-corrosion coatings [103]. - The new infrastructure investment is expected to drive the consumption of anti-corrosion coatings and zinc powder, with a proposed issuance of 3.9 trillion yuan in local government special bonds in 2024 [105]. - The cumulative installed capacity of new energy storage in China is expected to exceed 30 million kilowatts by the end of 2023, with a year-on-year growth of 260% [106]. - The offshore wind power sector is projected to reach an installed capacity of over 200 million kilowatts by 2030, which will continuously increase the demand for zinc powder [106]. - The chemical raw materials and chemical products manufacturing industry in China is expected to maintain steady growth, providing a favorable environment for the zinc powder industry [107]. Corporate Governance and Management - The company has established various governance rules to ensure compliance with legal requirements and protect shareholder interests [177]. - The company has implemented an effective internal control system, with no significant defects reported during the reporting period [193]. - The audit report for the company was issued without reservation by Da Hua Accounting Firm, confirming the integrity of financial statements [200]. - The company has improved its investor relations management by enhancing information disclosure quality and engaging with investors through various communication channels [185]. - The company has maintained a clear ownership structure and operates independently, adhering to the requirements of the Company Law and its articles of association [191]. Shareholder and Equity Information - The company plans to repurchase between 600,000 and 1,200,000 shares, representing 0.96% to 1.932% of the total share capital, with an estimated total repurchase fund range of 5.58 million to 11.16 million yuan [124]. - As of February 13, 2024, the company repurchased 100,954 shares, accounting for 0.16% of the total share capital, with a total payment of 742,716.95 yuan [124]. - The maximum repurchase price is set at 9.30 yuan per share, with the average trading price over the previous 30 trading days being 7.32 yuan [123]. - Major shareholders include Chen Zhiqiang with 14,568,500 shares (23.38%) and Liao Xinglie with 14,297,870 shares (22.94%), collectively controlling 46.32% of the company [139]. - The total number of shares held by the top ten shareholders is 46,794,370, representing 76.15% of the total shares [136]. Social Responsibility - The company actively participates in social responsibility activities, including donations totaling 30,000 yuan for rural revitalization and 20,000 yuan for epidemic prevention in 2023 [101].
新威凌(871634) - 2023 Q4 - 年度财报