Financial Performance - The company achieved operating revenue of RMB 290.99 billion in 2022, a decrease of 2.64% year-on-year[27]. - The net profit attributable to shareholders was RMB 4.19 billion, with earnings per share of RMB 0.239[27]. - Gross profit for the year was RMB 31.28 billion, down from RMB 34.72 billion in 2021[28]. - The company reported a pre-tax profit of RMB 13.21 billion, compared to RMB 14.19 billion in the previous year[28]. - The net profit attributable to the company's owners for 2022 was RMB 4,191,927 thousand, a decrease of 27.22% compared to RMB 5,759,422 thousand in 2021[29]. - The total assets as of December 31, 2022, were RMB 212,348,031 thousand, down 5.57% from RMB 224,862,823 thousand in 2021[30]. - The operating revenue for 2022 was RMB 290,987,942 thousand, reflecting a decline of 2.64% from RMB 298,885,350 thousand in 2021[32]. - The net cash flow from operating activities for 2022 was RMB 27,806,188 thousand, a decrease of 21.08% compared to RMB 35,232,217 thousand in 2021[32]. - The basic earnings per share for 2022 were RMB 0.239, down 26.69% from RMB 0.326 in 2021[32]. - The total liabilities as of December 31, 2022, were RMB 124,592,064 thousand, a decrease from RMB 135,165,255 thousand in 2021[30]. - The weighted average return on net assets for 2022 was 6.90%, down 2.96 percentage points from 9.86% in 2021[32]. - The profit attributable to the owners of the parent company after deducting non-recurring gains and losses was RMB 3,130,552 thousand, a significant decrease of 55.46% from RMB 7,028,314 thousand in 2021[32]. Research and Development - Research and development expenses increased to RMB 4.81 billion, up from RMB 2.42 billion in 2021, reflecting a focus on innovation[28]. - The company has established a three-tier technology team system and completed 65 key R&D projects, resulting in 356 patent authorizations[89]. - The company is investing in R&D, with a budget increase of I% to develop new technologies and improve existing products[40]. - The company aims to enhance its competitive advantage across the entire industrial chain and create new profit growth points through precise investments and high-quality development strategies[98]. Corporate Governance - The company emphasizes its commitment to corporate governance through the election of independent directors and supervisors[36]. - The total pre-tax remuneration for independent non-executive directors is RMB 20.58 million each for the year[35]. - The company has implemented a structured approach to management with clear roles and responsibilities among its executives[38]. - The company has a remuneration decision-making process based on market levels and company salary strategies[52]. - The company’s board of directors is responsible for approving the remuneration of directors and supervisors, which is then submitted to the shareholders' meeting for approval[52]. Market Strategy and Expansion - The company aims to become a world-class aluminum company with global competitiveness[24]. - The company is actively involved in international trade and logistics, enhancing its market expansion efforts[24]. - The company is expanding its market presence in regions E and F, aiming for a market share increase of G%[44]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[48]. - The company is exploring strategic partnerships to enhance its supply chain resilience and reduce dependency on single suppliers[48]. Environmental and Social Responsibility - The company is committed to developing low-carbon and zero-carbon technologies to align with green development goals[135]. - The company has established a comprehensive social responsibility management system to integrate sustainability into its daily operations[136]. - The company donated a total of RMB 29.91 million in cash and materials for social welfare projects in 2022, including RMB 19.90 million for aid to Qinghai and Tibet[144]. - The company established social responsibility committees at all levels to oversee ESG initiatives and ensure compliance with relevant laws and regulations[142]. - The company aims to peak carbon emissions by 2025 and reduce carbon emissions by 40% by 2035 through various strategic initiatives[154]. Employee and Workforce Management - The total number of employees in the group was 67,383, with production personnel accounting for 81.7% (55,076) of the workforce[54]. - The gender composition of employees showed that female employees made up 16.71% (11,257) of the total workforce[56]. - The company has a comprehensive employee training system to enhance work capabilities and career value[190]. - The company implemented a "Talent Strong Enterprise" strategy, focusing on employee training and talent development, optimizing the age and professional structure of its leadership team[143]. - The company contributed 16% of employee salaries to the basic pension insurance fund for the year ending December 31, 2022[189]. Financial Management and Dividends - The company’s board of directors approved the appointment of Xu Feng as vice president on March 21, 2023[53]. - The company plans to distribute a final dividend of RMB 0.036 per share, totaling approximately RMB 618 million based on the current total issued share capital of 17,161,591,551 shares[29]. - The company maintains a profit distribution policy that prioritizes cash dividends, distributing at least 10% of the distributable profits each year[158]. - The company has a stable profit distribution policy that considers long-term interests and sustainable development[157]. - The company completed the distribution of cash dividends for the fiscal year 2021 on August 19, 2022[159]. Operational Efficiency - The company has implemented a three-year cost reduction plan 2.0, focusing on enhancing core competitiveness and optimizing cost management[97]. - The company has integrated management of its resources through acquisitions and has optimized its operational efficiency, with labor productivity in alumina, electrolytic aluminum, and carbon materials increasing by 12.7%, 16.6%, and 14.8% respectively[90]. - The company is implementing cost-cutting measures aimed at reducing operational expenses by J% over the next year[42]. - The company has strengthened risk management and safety production standards, achieving a safety production standardization team compliance rate of over 90%[91]. Production and Capacity - The production of alumina in 2022 was 1,764,000 tons, up from 1,623,000 tons in 2021, representing an increase of 8.7%[149]. - The production of electrolytic aluminum surged to 688,000 tons in 2022, a significant increase of 78.4% compared to 386,000 tons in 2021[149]. - The company improved its electrolytic aluminum capacity utilization rate by 7.7 percentage points year-on-year[87]. - The company aims to strengthen its core industries, including bauxite, alumina, and electrolytic aluminum, while also focusing on high-purity aluminum and aluminum alloys[123]. Risk Management - The company is actively monitoring international market conditions to manage risks associated with international operations and currency fluctuations[134]. - The company aims to improve safety production standards and environmental protection measures in response to increasing regulatory pressures[133]. - The company is focusing on adjusting its energy structure to reduce carbon emissions and enhance the recycling of aluminum[135].
中国铝业(02600) - 2022 - 年度财报