Adisseo(SH:600299)2023-03-30 16:00Financial Performance - The net profit attributable to shareholders for 2022 was RMB 1,246,679,835, representing a significant achievement for the company[6]. - The total distributable profit for the parent company as of December 31, 2022, was RMB 509,781,066[6]. - The proposed cash dividend is RMB 1.51 per 10 shares, totaling RMB 404,967,092 (including tax) to be distributed to all shareholders[6]. - The company's operating revenue for 2022 was CNY 14,529,015,609, representing a 12.90% increase compared to CNY 12,868,681,379 in 2021[25]. - The net profit attributable to shareholders for 2022 was CNY 1,246,679,835, a decrease of 15.29% from CNY 1,471,648,465 in 2021[25]. - The basic earnings per share for 2022 was CNY 0.46, down 16.36% from CNY 0.55 in 2021[26]. - The weighted average return on equity for 2022 was 8.71%, a decrease of 1.83 percentage points from 10.54% in 2021[26]. - The company's revenue for 2022 was RMB 14,529,015,609, an increase of 12.90% compared to 2021[81]. - Operating costs rose to RMB 10,531,745,480, reflecting a 24.27% increase year-on-year[81]. - The company reported a significant increase in financial expenses, up 911.08% to RMB 169,404,162, mainly due to interest increases and foreign exchange fluctuations[81]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[10]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[7]. - The company has a strong risk resilience due to its significant position in the food value chain, allowing it to implement strict cost control and improve production processes[44]. - The company faces risks related to political, regulatory, and environmental factors that could impact its operations and profitability[151][154]. - Andyso faces significant risks related to raw material and energy supply due to high inflation affecting costs and limited suppliers for key materials like propylene, sulfur, methanol, ammonia, and natural gas[160]. - Customer credit risk remains a concern despite measures like setting credit limits and tracking credit records, which cannot fully eliminate the risk[163]. - The company faces potential tax and tariff risks due to geopolitical tensions and changes in tax laws, which could lead to higher effective tax rates[165]. - Cybersecurity threats, including hacking and phishing, pose risks to the company's information systems, which could lead to significant operational and financial repercussions[172]. Sustainability and Environmental Goals - The company aims to reduce greenhouse gas emissions, energy consumption, and water usage by 20% per kilogram of product by 2025 compared to 2015 levels[40]. - In 2022, the company set a new target to reduce absolute greenhouse gas emissions by 21% by 2025 compared to 2020 levels, aligning with science-based targets[41]. - The company is committed to sustainability, aiming for a balance between economic development and resource protection, and aligns its goals with international standards such as the Paris Agreement[41]. - The company is investing in environmental projects, including new electrostatic filters and wastewater treatment facilities, to reduce production's environmental impact and improve cost competitiveness[69]. - The company is committed to reducing greenhouse gas emissions and energy consumption as part of its sustainability efforts[154]. Research and Development - The company has eight R&D centers with approximately 200 employees dedicated to research and innovation, supporting its dual pillar strategy[39]. - The company’s R&D innovation center in China began trial operations in early 2022, with a 20% increase in the R&D team, resulting in 4 out of 7 new patent applications being approved[45]. - Total R&D investment amounted to CNY 470,034,898, representing 3.24% of operating revenue[92]. - The company reported a 20% increase in full-time R&D personnel in 2022, with 4 out of 7 new patent applications approved[143]. - The company has established a research center in Singapore and is collaborating with universities and research institutions to enhance R&D capabilities[94]. Market Position and Strategy - The company is a leader in the global animal nutrition feed additive market, providing comprehensive solutions through strategic partnerships, products, services, and research[36]. - The company serves over 4,200 customers in more than 110 countries, focusing on improving production efficiency, animal performance, and minimizing environmental impact[36]. - The company is the global leader in liquid methionine and the second-largest producer of methionine overall, with a unique competitive advantage in feed-grade vitamins[38]. - The company has established a "dual pillar" strategy to strengthen its leading position in the methionine industry while accelerating the development of specialty products[37]. - The company aims to maintain its leading position in the methionine market while accelerating the development of specialty products through continuous innovation[68]. - The company is actively seeking external acquisition opportunities to drive revenue growth[145]. - The company has established strategic alliances and external acquisitions to enhance its core business and diversify its high-growth product portfolio[70]. Operational Efficiency - The company has implemented optimization plans in response to economic challenges, including rising raw material prices and geopolitical crises affecting energy costs[52]. - The company has maintained a stable business operation level despite global macroeconomic volatility, including geopolitical tensions and rising raw material costs[44]. - The company is committed to reducing production costs by integrating upstream and downstream processes for methionine production, ensuring the stability and reliability of high-risk intermediates[76]. - The company aims to reduce operational costs by 8% through efficiency improvements in production[195]. Governance and Management - The company’s board of directors includes members with extensive experience in chemical engineering and management, enhancing its strategic direction[192]. - The company has a diverse board with members from various backgrounds, which supports its global operations and strategic initiatives[192]. - The company held two shareholder meetings in the year, with all proposals approved and no rejected resolutions[188]. - The total remuneration for the board members and senior management during the reporting period amounted to 2,712,000 RMB[192]. - The company has renewed the responsibility insurance for directors, supervisors, and senior management personnel[188]. - The leadership team includes individuals with academic and professional expertise, contributing to informed decision-making processes[200].