Evergreen Technology(SH:603125)2023-04-28 16:00Financial Performance - In 2022, the company achieved operating revenue of CNY 963.61 million, a year-on-year increase of 27.07%[26]. - The net profit attributable to shareholders reached CNY 190.65 million, reflecting a growth of 32.73% compared to the previous year[26]. - The net profit after deducting non-recurring gains and losses was CNY 190.06 million, up 31.33% year-on-year[26]. - The company's total assets at the end of 2022 amounted to CNY 973.67 million, an increase of 21.32% from the previous year[26]. - The basic earnings per share for 2022 was CNY 1.32, representing a 33.33% increase from CNY 0.99 in 2021[27]. - The gross profit for 2022 was CNY 295.59 million, with a significant increase of CNY 68.16 million, or 29.98% from the previous year[74]. - The main business revenue was CNY 962.63 million, with a growth of 27.10% compared to the previous year[74]. - The company reported a revenue increase of 15% year-over-year, reaching $500 million in Q4 2022[176]. R&D and Innovation - The company focused on R&D investment, emphasizing innovation in high polymer new materials and enhancing management capabilities[34]. - The company has strengthened partnerships with research institutions and universities to enhance R&D capabilities and accelerate new product development[34]. - The company’s R&D expenses increased by 223.39% to CNY 315.78 million, reflecting a strong commitment to product innovation[81]. - The company has developed multiple key patents and technologies, enhancing its competitive position in the specialty monomers and additives market[65]. - The company holds 69 patents, including 8 invention patents, reflecting its commitment to technological innovation[70]. - The company is actively involved in research and development of new products and technologies to meet market demands[109]. - The company has developed a one-step synthesis technology for divinylbenzene, significantly improving product quality and enabling the production of high-purity isomers, which is crucial for new polymer materials[141]. Market Position and Strategy - The company operates in the high polymer new materials industry, which is currently in a robust growth phase without significant cyclical characteristics[46]. - The company aims to align with national policies promoting high-quality development in the petrochemical industry, enhancing its competitive capabilities[47]. - The company has achieved multiple breakthroughs in key production technologies and processes for specialty monomers and additives, positioning itself as a significant player in the high-performance polymer materials sector[140]. - The company aims to enhance its competitive edge by focusing on high-end specialty chemicals and advanced materials[107]. - The company is positioned to benefit from industry policies promoting innovation and transformation in the chemical sector[106]. Corporate Governance - The board of directors has confirmed that all members attended the board meeting, ensuring proper governance and decision-making[4]. - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy and completeness of the financial report[5]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report[10]. - The company held 3 supervisory board meetings throughout the year, ensuring compliance with legal and regulatory requirements[166]. - Independent directors accounted for over one-third of the board, actively participating in meetings and providing positive suggestions on management and strategic direction[168]. Risk Management - The company has outlined potential risks in its future plans and strategies, advising investors to be aware of investment risks[7]. - The company faces risks from industry regulation changes, market competition, raw material price fluctuations, safety production, environmental protection, and exchange rate volatility, which could adversely affect its operations and profitability[155][156][158][159][160][161]. - The company has strengthened its internal control system to ensure compliance, asset security, and accurate financial reporting, improving operational efficiency[38]. Production and Operations - The company reported a net cash flow from operating activities of CNY 113.62 million, a slight decrease of 3.57% from the previous year[26]. - The company plans to continue optimizing production processes and improving operational efficiency through advanced management practices and technology integration[36]. - The company’s production efficiency is high, with special monomers produced using a continuous production method, while special additives are produced in batches, allowing for flexibility[116]. - The company employs a "production based on sales" model, aligning production plans with market demand and maintaining safety stock[115]. Shareholder Returns - The company plans to distribute a cash dividend of 0.9 RMB per 10 shares, totaling 17,329,500 RMB based on a total share capital of 192,550,000 shares[6]. - The profit distribution plan was approved by the board and will be presented to the shareholders' meeting, ensuring the protection of minority shareholders' rights[197]. - The board of directors approved a dividend payout of $0.50 per share, reflecting a commitment to returning value to shareholders[176].