NCFC(SH:600889)2023-03-28 16:00Financial Performance - The company's operating income for 2022 was CNY 519,890,628.84, representing a 10.70% increase compared to CNY 469,635,934.59 in 2021[21]. - The net revenue after deducting non-operating income was CNY 488,501,223.45, which is a 10.32% increase from CNY 442,788,359.09 in the previous year[21]. - The company reported a net loss attributable to shareholders of CNY -176,719,702.08, compared to a loss of CNY -164,710,719.26 in 2021[21]. - The net profit attributable to shareholders was CNY 1,052,667,612.07, a decrease of 14.36% compared to CNY 1,229,214,837.77 in the previous year[23]. - The total assets decreased by 8.91% to CNY 1,923,622,110.67 from CNY 2,111,754,822.99 in the previous year[23]. - The basic earnings per share were -CNY 0.48, compared to -CNY 0.45 in the previous year[24]. - The diluted earnings per share were also -CNY 0.48, consistent with the basic earnings per share[24]. - The cash flow from operating activities showed a net outflow of CNY -78,024,930.79, compared to CNY -88,943,868.42 in the previous year[22]. - The company reported a total revenue of CNY 147,295,353 in Q4, with a net profit attributable to shareholders of CNY -88,025,368[26]. - The company reported a total revenue of 600 million for the year, with a year-on-year increase of 10%[106]. - The company reported a revenue of 1.2 billion in 2022, representing a year-over-year growth of 15%[108]. - The company reported a revenue of 1.2 billion in Q4 2022, representing a year-over-year growth of 15%[110]. Corporate Governance - The board of directors decided not to distribute profits or increase capital from reserves for the year[5]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has not disclosed any future plans or strategic commitments that could be considered as guarantees to investors[6]. - The audit report issued by Tianzhi International Accounting Firm was a standard unqualified opinion[4]. - The company has not faced any penalties from securities regulatory agencies in the past three years[119]. - The company has not reported any objections from directors regarding company matters[125]. - The company has established various specialized committees under the board, including the audit committee and the strategic committee[125]. - The company has not faced any delisting risk or bankruptcy reorganization issues during the reporting period[169]. - The company has no significant violations or penalties against its directors, supervisors, or senior management during the reporting period[170]. Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[7]. - The company faces risks related to product quality, market competition, raw material price fluctuations, and environmental regulations[98]. - The company has established a risk control department and internal audit mechanisms to ensure compliance with laws and regulations[139]. Research and Development - The company has initiated 10 R&D projects, including 3 major technological innovation projects, and has applied for 12 patents, with 9 granted[35]. - The company has established a new materials research institute in December 2021 to enhance R&D capabilities[66]. - The company holds a total of 96 valid authorized patents, including 10 invention patents[81]. - The company is investing 100 million in R&D for new technologies aimed at enhancing product efficiency[108]. - Research and development expenses increased by 25%, totaling 150 million, to support new technology initiatives[106]. - The number of R&D personnel is 64, accounting for 5.38% of the total workforce[64]. Production and Operations - The annual production of viscose staple fiber reached 28,527 tons, with two production halts totaling 135 days affecting an estimated 19,000 tons of output[33]. - The production of viscose staple fiber reached 28,527 tons with a sales revenue of CNY 348.88 million, achieving a sales rate of 100%[44]. - The company maintained an average daily production of over 130 tons for viscose staple fiber, despite market challenges[44]. - The production volume of viscose staple fiber decreased by 15.04%, while sales volume decreased by 1.24%[54]. - The company’s viscose staple fiber production capacity is 80,000 tons per year, indicating a strong position in the industry[77]. - The company is currently constructing a new solvent-based cellulose fiber (Lyocell) project with a planned capacity of 100,000 tons per year, expected to be operational by mid-2023[77]. Environmental Responsibility - The company has established an environmental protection mechanism and is classified as a key pollutant discharge unit, with no exceedances reported in 2022[141]. - In 2022, the company reported zero emissions for major pollutants including solvent volatile waste gas, drying waste gas, and hydrogen chloride, complying with relevant environmental standards[144]. - The company has implemented pollution prevention facilities, which are currently operational, ensuring compliance with environmental regulations[149]. - The company has developed an environmental self-monitoring plan, which has been approved and is being executed regularly[152]. - The company has greened an area of 38,940 square meters as part of its ecological protection efforts[154]. Market Expansion and Strategy - The company plans to accelerate the construction of a 40,000-ton lyocell fiber project, expected to begin trial production in the first half of 2023[47]. - The company is expanding its market presence in Southeast Asia, targeting a revenue contribution of 30% from this region by 2025[106]. - The company plans to enhance its competitive edge by increasing the production of high-value-added products and expanding its research and development efforts in new materials[95]. - The company is exploring partnerships with local firms to enhance distribution channels, aiming for a 15% increase in sales through these collaborations by 2024[111]. Financial Commitments and Investments - The company has a total guarantee amount of RMB 599,000,000, which accounts for 52.89% of the company's net assets[177]. - The company provided guarantees totaling RMB 699,000,000 to subsidiaries during the reporting period[177]. - The company has a cumulative loan amount of RMB 155,137,334.40 for the lyocell short fiber project as of December 31, 2022[183]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 200 million allocated for potential deals[108]. Shareholder Information - The largest shareholder, Nanjing New Industry Investment Group, holds 35.41% of the shares, totaling 129,709,768 shares[189]. - The company has 24,084 ordinary shareholders as of the end of the reporting period[187]. - The total shares held by the top ten unrestricted shareholders include 129,709,768 shares by Nanjing New Industry Investment Group Co., Ltd. and 24,000,000 shares by Nanjing Light Textile Industry (Group) Co., Ltd.[190].