ELION(SH:600277)2023-08-01 16:00Financial Performance - The company reported a basic earnings per share of CNY 0.21 for 2022, a decrease of 8.70% compared to CNY 0.23 in 2021[12]. - The weighted average return on equity was 4.38% in 2022, down 0.65 percentage points from 5.03% in 2021[12]. - The company achieved a total operating revenue of 11.178 billion yuan, a decrease of 10.24% compared to the previous year[50]. - The net profit attributable to the parent company was 730 million yuan, down 9.22% from 805 million yuan in the previous year[50]. - The company's operating revenue for the current period is ¥11,178,160,800.42, a decrease of 10.24% compared to ¥12,453,798,977.32 in the same period last year[51]. - The net cash flow from operating activities decreased by 63.30%, from ¥2,173,232,373.62 to ¥797,517,533.09, primarily due to a decline in revenue from chemical products[51][52]. - Investment income increased by 26.25%, from ¥577,013,339.48 to ¥728,460,746.57, mainly due to higher equity method accounting income from joint ventures[51][53]. - The company reported a non-recurring loss of approximately RMB 30.92 million for the current period, compared to a gain of RMB 64.39 million in the previous period[163]. - The net profit after deducting non-recurring gains and losses increased by 2.84% to CNY 761,740,228.34 in 2022 compared to CNY 740,671,091.13 in 2021[189]. - The company's total assets reached 35 billion yuan as of December 31, 2022[50]. - The company's total assets increased by 2.86% to CNY 35,072,628,509.53 at the end of 2022 from CNY 34,097,144,143.72 at the end of 2021[189]. Operational Highlights - The company is advancing the construction of the 2 million kW photovoltaic desertification project in Inner Mongolia, which is the largest single-scale photovoltaic desertification project in China[17]. - The company has completed the construction and grid connection of 300,000 kW of the 500,000 kW Gansu Wuwei three-dimensional ecological photovoltaic desertification project, with another 200,000 kW under construction[17]. - The company is focusing on the development of a low-carbon full industrial chain ecosystem based on wind and solar energy, leveraging land resources accumulated over 30 years by its controlling shareholder[16]. - The company has invested in a 1,000 standard alkaline electrolyzer production line, which commenced production in September 2022[17]. - The company is actively adjusting its raw material procurement and electricity trading strategies to effectively reduce cost expenditures amid fluctuating market prices[16]. - The company aims to strengthen its competitive advantage through refined management and project operation stability[16]. - The company is committed to upgrading technology and extending its industry focus towards green low-carbon new materials[18]. - The company has successfully navigated challenges in the commodity market and completed various operational tasks during the reporting period[15]. - The company is actively expanding its integrated "photovoltaic + ecological restoration" model in desert areas, aligning with national clean energy strategies[28]. - The company is focusing on the development of integrated modern coal chemical industry parks, which includes multiple production lines and resource utilization strategies[114]. Cost and Revenue Analysis - The total cost for the period was 14,982,993,784.46, a decrease of 11.19% compared to 16,873,169,693.35 in the previous year[59]. - Direct materials accounted for 51.64% of total costs, increasing from 47.90% year-over-year, with a current amount of 1,249,005,560.78 compared to 971,407,373.34 previously[60]. - The gross profit margin for the chemical manufacturing sector decreased by 4.16 percentage points to 15.74%[54]. - The revenue from the supply chain logistics sector decreased by 53.21%, with a gross profit margin increase of 3.61 percentage points to 7.27%[54]. - The revenue from clean energy increased by 12.33%, with a gross profit margin increase of 9.32 percentage points to 4.96%[54]. - The company’s coal sales decreased by 30.01% due to supply guarantee impacts[34]. - The clean energy segment reported a total cost of 2,357,399,546.58, up 3.50% from 2,277,738,147.51 in the previous year[59]. - The total cost of goods sold was 9,493,446,111.62, down from 10,583,983,493.92[63]. Research and Development - The total R&D expenditure amounted to 399,920,239.63, representing 3.58% of total revenue[66]. - The company has a total of 538 R&D personnel, accounting for 13.87% of the total workforce[88]. - The major R&D projects include the development of a low-emission flue gas project costing approximately ¥59 million and a zero wastewater discharge project costing around ¥280 million[88]. - The company is investing ¥52.6 million in the industrial trial and application of a stable low-mercury PVC synthesis catalyst[88]. - The R&D budget for the 200,000-ton caustic soda expansion project is approximately ¥487.5 million[88]. - The company is focusing on the development of a new mercury-free solid-phase catalyst with an investment of approximately ¥873.7 million[88]. - The company is also working on a project for the utilization of waste heat from hydrochloric acid synthesis, with an investment of around ¥70.7 million[88]. - The company has developed a boiler flue gas heat recovery system with an efficiency of 2,702,468.36[90]. - The research on the ammonia-SCR combined desulfurization and denitrification process has a projected impact of 535,300.29[90]. Market and Strategic Initiatives - The company has established a comprehensive marketing network in North China, South China, and East China, forming long-term supply relationships with major downstream customers[138]. - The company is actively pursuing clean heat projects through investments, acquisitions, and technological innovations, aiming to consolidate its core competitiveness[140]. - The company operates a diversified procurement model based on the nature of raw materials and contract amounts, ensuring stable supply chains[136]. - The company has a strong market competitive advantage with sufficient mainstream supply and smooth transportation[138]. - The company is committed to the dual carbon policy and green energy pathways, focusing on the development of biomass-based mixed fertilizers[134]. - The company has a strategic focus on the circular economy, extending its supply chain services in the polyolefin industry[137]. - The company has implemented a multi-layered industrial and ecological diversification strategy in its photovoltaic sand control projects since 2013[168]. Environmental and Sustainability Efforts - The company has been recognized as a "green manufacturing demonstration unit" in Inner Mongolia, highlighting its leadership in green manufacturing capabilities[101]. - The company is focusing on digital transformation and the construction of smart digital factories to enhance industrial and management upgrades across its two major parks[199]. - The company received approval for a 400MW wind-solar hydrogen and green fertilizer integrated demonstration project in January 2023, aimed at developing a low-carbon industrial chain[200]. - The company is advancing technological innovation and production efficiency improvements through major projects in its Darat Banner and Kubuchi parks, including the optimization of product structure and operational efficiency[199].