ZPEC(SH:603637)2023-04-20 16:00Financial Performance - In 2022, the company's operating revenue was CNY 574,469,296.12, a decrease of 47.78% compared to CNY 1,100,056,235.41 in 2021[23]. - The net profit attributable to shareholders of the listed company increased by 37.60% to CNY 103,051,828.12 from CNY 74,889,693.87 in 2021[23]. - The basic earnings per share rose to CNY 0.43, reflecting a growth of 38.71% from CNY 0.31 in 2021[24]. - The weighted average return on equity increased to 12.10%, up by 2.85 percentage points from 9.25% in 2021[24]. - The net cash flow from operating activities was CNY 70,546,168.52, a decline of 63.84% compared to CNY 195,079,278.29 in 2021[23]. - By the end of 2022, the total assets amounted to CNY 1,410,942,983.38, a slight decrease of 0.79% from CNY 1,422,126,642.85 at the end of 2021[23]. - The net assets attributable to shareholders of the listed company increased by 9.11% to CNY 890,914,946.26 at the end of 2022[23]. - The company achieved operating revenue of CNY 574,469,296.12 in 2022, a year-on-year decrease of 47.78%[35]. - The company reported a net cash flow from operating activities of ¥70,546,168.52, down 63.84% year-on-year[81]. - The company reported a significant decrease in inventory by 74.72% to ¥4,504,384.58, down from ¥17,815,831.86 in the previous period[95]. Dividend Distribution - The company plans to distribute a cash dividend of 1.3 RMB per 10 shares, totaling approximately 31,029,164.01 RMB, which represents 30.11% of the net profit attributable to shareholders for the year[7]. - The total share capital as of April 19, 2023, is 243,678,373 shares, with 4,992,496 shares held in the company's repurchase account, resulting in a base of 238,685,877 shares for dividend calculation[7]. - The company maintains a stable profit distribution policy, ensuring that cash dividends are at least 20% of the distributable profits each year[162]. - The cash dividend distribution policy requires a minimum of 20% of distributable profits to be distributed in cash when the company is in a growth phase with significant capital expenditures[167]. - The company has maintained a consistent dividend distribution policy, with no adjustments made during the reporting period[168]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategy or ongoing operations during the reporting period[10]. - The company has detailed its future development risks in the management discussion and analysis section of the report[10]. - The company faces risks from a changing market environment, including increased global economic pressures and structural adjustments in the petrochemical industry[113]. - The company will provide one-stop solutions from planning to operation to mitigate operational risks and ensure sustainable business practices[114]. Corporate Governance - The company received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[6]. - The company’s management has stated that all board members attended the board meeting, ensuring collective responsibility for the report's accuracy[5]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance regulations[125]. - The company has established a performance evaluation and compensation mechanism linking employee income to work performance[125]. - The company adheres to strict information disclosure obligations, ensuring transparency and protecting shareholder rights[126]. Market and Industry Trends - The petrochemical industry saw a total revenue of CNY 16.56 trillion in 2022, with a year-on-year growth of 14.4%[48]. - Investment in the chemical raw materials and products manufacturing sector grew by 18.8% year-on-year, indicating a positive trend in the industry[48]. - The digital transformation of the petrochemical industry is in its early stages, with a focus on integrating technology, business, and organization to enhance operational efficiency[57]. - The company is focusing on the "reduce oil and increase chemicals" strategy, aiming to enhance the yield of chemical products and capture market opportunities in high-end manufacturing sectors such as new materials and aerospace[70]. Research and Development - The company completed 11 R&D projects and 28 business constructions during the reporting period, indicating a strong commitment to innovation and development[76]. - The company invested $50 million in R&D for new technologies aimed at enhancing operational efficiency[138]. - Research and development investments have increased by 30%, focusing on sustainable technologies and product enhancements[140]. - The company plans to enhance its research and development capabilities through collaboration with institutions like the Ningbo Materials Institute[110]. Strategic Initiatives - The company is actively pursuing market expansion, signing framework agreements with major clients including Sinopec and CNOOC, and winning key project bids[42]. - The company is committed to improving safety and quality standards, receiving multiple accolades from clients for its project execution and management[44]. - The company is expanding its market focus from regional to national and international levels, aiming for integrated service offerings across the entire industry chain[117]. - The company is committed to sustainable development by promoting green production processes and technologies[104]. Employee and Management - The total remuneration for all directors, supervisors, and senior management personnel in 2022 amounted to CNY 7.797 million[146]. - The company has established a performance-based salary system linked to output growth, with a principle of "basic salary + performance salary"[158]. - A total of 1,200 training sessions were conducted for employees through various methods, including expert lectures and online teaching[159]. - The company has a total of 71 R&D personnel, accounting for 19.83% of the total workforce[92]. Environmental and Social Responsibility - The company actively integrates energy-saving and emission-reduction measures into green technology development and daily operations, focusing on core technology areas such as energy conservation and clean production[181]. - The company actively participates in public welfare activities, including disaster relief and educational support, fulfilling its social responsibilities[184]. - The company is not listed as a key pollutant discharge unit and complies with national environmental laws and regulations[180].