TKGF(SH:601233)2023-07-06 16:00Financial Performance - The net profit for the year 2022 reached CNY 1,917.17 million, with a total distributable profit of CNY 8,703.31 million[2]. - The company's operating revenue for 2022 was CNY 61,993,349,371.81, an increase of 4.79% compared to CNY 59,157,202,368.45 in 2021[17]. - The net profit attributable to shareholders for 2022 was CNY 130,209,410.96, a significant decrease of 98.26% from CNY 7,464,486,120.27 in 2021[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,511,848.09, down 99.89% from CNY 7,423,774,149.84 in the previous year[17]. - The net cash flow from operating activities was CNY 1,072,585,797.15, a decrease of 61.61% compared to CNY 2,793,938,316.07 in 2021[17]. - The total profit for the year was a loss of CNY 325.39 million, a decline of 104.01% year-on-year[39]. - The gross profit margin decreased by 7.95 percentage points to 3.27% compared to the previous year[43]. - The company reported a significant decline in cash flow from operating activities, with a net cash flow of CNY 1.07 billion, down 61.61% from the previous year[40]. Dividend Policy - The company will not distribute cash dividends or issue bonus shares for the year 2022, nor will it implement capital reserve transfers to increase share capital[2]. - The total cash dividend amount for the year, including tax, is 584,352,039.10 RMB, which represents 448.78% of the net profit attributable to ordinary shareholders in the consolidated financial statements[127]. - The company has a cash dividend policy that stipulates a minimum distribution of 10% of the distributable profit for the year, provided certain conditions are met[124]. Assets and Liabilities - The company's total assets at the end of 2022 were CNY 90,140,027,522.54, an increase of 29.09% from CNY 69,826,113,321.20 in 2021[17]. - The net assets attributable to shareholders at the end of 2022 were CNY 34,698,022,970.04, a decrease of 3.53% from CNY 35,968,544,998.50 in 2021[17]. - Short-term borrowings increased by 52.69% to 19,506,813,025.70 yuan, reflecting the company's financing strategy[57]. - The total amount of guarantees provided by the company, excluding guarantees to subsidiaries, is RMB 30,314,315,861.92, which accounts for 86.6% of the company's net assets[174]. Market Conditions and Challenges - The company faced significant challenges in 2022 due to rising raw material costs and a contraction in market demand, impacting production and sales[17]. - The company faced significant external pressures in 2022, including high costs and weak demand in the polyester filament market, influenced by geopolitical tensions and inflation[25]. - The overall market for polyester filament showed a "V" shaped price trend, indicating volatility in pricing due to supply and demand imbalances[25]. - The polyester filament industry faced challenges in 2022, with a 0.24% year-on-year decrease in polyester filament production to 42.76 million tons, marking the first negative growth in nearly 40 years for the chemical fiber sector[29]. Production and Capacity - The company has an annual production capacity of 720,000 tons of PTA, 910,000 tons of polymer, and 960,000 tons of polyester filament as of the end of the reporting period[35]. - The company completed the trial operation of three sets of 300,000 tons polyester filament units, totaling 1,000,000 tons[32]. - The company increased polyester filament capacity by approximately 1 million tons in 2022 due to the commissioning of three polyester units and subsequent production lines[76]. - The production volume of polyester filament was 781.45 thousand tons, reflecting a year-on-year increase of 5.94%, while sales volume was 767.62 thousand tons, up 6.90%[44]. Research and Development - Research and development expenses increased by 13.35% to CNY 1.65 billion, reflecting the company's commitment to innovation[40]. - The company is focused on innovation, developing new products and technologies to enhance production quality and meet market demands, resulting in improved production efficiency[28]. - The company has established a fully automated factory and darkroom workshop, significantly reducing production costs and improving product competitiveness[38]. Environmental and Social Responsibility - The company has committed to improving the safety and stability of the industrial chain by enhancing the innovation capabilities of national and provincial advanced functional fiber innovation centers[63]. - The company is actively pursuing green transformation initiatives, including the construction of green factories and promoting the recycling of used textiles[67]. - The company invested a total of 4.52 million yuan in social responsibility projects, benefiting 1,000 individuals[155]. - The company has received administrative penalties totaling 400,000 yuan for environmental violations, which have been rectified[151]. Governance and Compliance - The company has established a management system to prevent the non-operational occupation of funds by controlling shareholders, which was approved by the board in September 2021[98]. - The company has maintained independence from its controlling shareholders in terms of assets, personnel, finance, and business operations[98]. - The board of directors consists of 4 independent directors who actively fulfill their responsibilities and provide independent opinions on related transactions[96]. - The company has established a system for registering insider information to ensure compliance with regulatory requirements[96]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,847, down from 75,463 at the end of the previous month[182]. - The largest shareholder, Tongkun Holding Group Co., Ltd., held 464,908,884 shares, representing 19.28% of the total shares[183]. - The company has maintained a stable shareholding structure with no changes in the number of shares held by key executives[102]. - The company repurchased a total of 36,447,273 shares, representing 1.51% of the total share capital, with a total expenditure of RMB 600,355,573.10, at an average price of RMB 16.47 per share[178].