BAOFENG ENERGY(SH:600989)2023-03-09 16:00Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.40 CNY per 10 shares, totaling 1,023,934,309 CNY for the year 2022, with a total cash dividend distribution of 2,047,878,551 CNY including the interim dividend[3]. - The total number of shares for the dividend calculation is 7,313,816,494 shares after deducting repurchased shares[3]. - The total cash dividend amount (including tax) is RMB 2,047,878,551, which accounts for 32.49% of the net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements[133]. - The net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements is RMB 6,302,502,368[133]. Financial Performance - The company's operating revenue for 2022 was approximately ¥28.43 billion, representing a 22.02% increase compared to ¥23.30 billion in 2021[18]. - The net profit attributable to shareholders for 2022 was approximately ¥6.30 billion, a decrease of 10.86% from ¥7.07 billion in 2021[18]. - The net cash flow from operating activities for 2022 was approximately ¥6.63 billion, showing a slight increase of 2.13% from ¥6.49 billion in 2021[18]. - The total assets at the end of 2022 reached approximately ¥57.58 billion, marking a significant increase of 29.76% from ¥44.37 billion at the end of 2021[18]. - The basic earnings per share for 2022 was ¥0.86, down 11.34% from ¥0.97 in 2021[19]. - The company achieved a weighted average return on equity of 19.57% in 2022, a decrease of 5.76 percentage points from 25.33% in 2021[19]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[2]. - The board of directors and supervisory board members have all attended the board meeting, ensuring the report's authenticity and completeness[2]. - The company has maintained effective internal control over financial reporting without any significant deficiencies throughout the year[137]. - The company has received a standard unqualified opinion in the internal control audit report for 2022 from Ernst & Young Hua Ming[139]. Operational Developments - The company is investing in a 600,000 tons/year olefin project funded by raised capital, which includes a 2.2 million tons/year methanol facility and a 60,000 tons/year olefin unit[11]. - The company has commenced construction on a 500,000 tons/year coal-to-olefin project, which includes a 250,000 tons/year EVA facility[11]. - The Inner Mongolia olefin project has a capacity of 2.6 million tons/year for coal-to-olefin production and a 400,000 tons/year green hydrogen coupling project[11]. - The company is focused on developing new technologies in methanol-to-olefin (MTO) processes, enhancing production efficiency[11]. Research and Development - The company invested CNY 150.85 million in R&D, a 14% increase year-on-year, and developed 5 new grades of polyolefin products[29]. - The company added 49 new authorized patents in 2022, bringing the total to 157[29]. - The company has a total of 12,578 production personnel, 1,464 technical personnel, and 409 financial personnel[126]. Environmental and Social Responsibility - The company has committed to achieving a 50% reduction in carbon emissions within 10 years and aims for carbon neutrality within 20 years, contributing to national carbon neutrality goals[152]. - The company has invested 177,771.78 million RMB in environmental protection during the reporting period[141]. - The company has actively engaged in social responsibility initiatives, particularly in education, to support local communities and promote sustainable development[154]. - The company has established emergency response plans for environmental incidents and conducted training and drills to ensure preparedness[145]. Corporate Governance - The company has implemented a robust corporate governance structure in compliance with relevant laws and regulations, enhancing investor relations[100]. - The company’s board of directors operates independently and adheres to legal requirements, ensuring prudent decision-making[103]. - The company’s supervisory board actively monitors financial reports and the performance of directors and senior management to protect shareholder interests[104]. Market Position and Strategy - The company is positioned as one of the leading enterprises in the coal-to-olefins industry, with a comprehensive product range and strong market presence[71]. - The company aims to enhance its innovation capabilities by focusing on high-performance, specialized polypropylene products and expanding into high-end fine chemicals through acquisitions[93]. - The company plans to expand its market presence by entering two new provinces, aiming for a 10% market share in these regions within the next two years[110]. Risk Management - The company plans to implement risk management strategies to mitigate legal, policy, technical, market, and management risks, ensuring stable development[95]. - The company has established a comprehensive safety production management system to mitigate risks associated with chemical production and coal mining[98]. Shareholder Information - The total number of ordinary shareholders increased to 109,196 by the end of the reporting period, up from 86,437 at the end of the previous month[191]. - The largest shareholder, Ningxia Baofeng Group Co., Ltd., holds 2,608,470,063 shares, representing 35.57% of the total shares[192]. - The second largest shareholder, Dongyi International Group Co., Ltd., holds 2,000,000,000 shares, accounting for 27.27%[192].