MILKYWAY(SH:603713)2023-03-21 16:00Financial Performance - The company achieved operating revenue of 11.58 billion RMB in 2022, representing a year-on-year growth of 33.90%[21]. - Net profit attributable to shareholders reached 605.37 million RMB, an increase of 40.20% compared to the previous year[21]. - Basic earnings per share rose to 3.68 RMB, up by 38.14% from 2.66 RMB in 2021[22]. - The weighted average return on equity improved to 17.45%, an increase of 1.59 percentage points from the previous year[22]. - Cash flow from operating activities saw a significant increase of 202.47%, totaling 612.64 million RMB[21]. - Total assets at the end of 2022 amounted to 9.51 billion RMB, reflecting a growth of 30.78% year-on-year[21]. - The company's net assets attributable to shareholders increased by 20.18% to 3.79 billion RMB[21]. - In 2022, the company achieved a total profit of 729 million yuan, an increase of 38.16% year-on-year[52]. - The total operating revenue reached 11.576 billion yuan, reflecting a year-on-year growth of 33.90%[52]. Dividend Policy - The company plans to distribute a cash dividend of 5.5 CNY per 10 shares (including tax), totaling approximately 90.21 million CNY based on a distributable share base of 164,013,782 shares, resulting in a cash dividend payout ratio of 14.90% for the year[4]. - The company is committed to maintaining the distribution ratio per share even if there are changes in total share capital due to convertible bonds or other factors, with adjustments to the total distribution amount to be announced separately[4]. - The cash dividend policy has been consistently executed since the company's listing in 2018, with annual distributions exceeding 14% of net profit[168]. - The cash dividend distribution is prioritized over stock dividends, with a preference for cash payments[166]. - The company aims for a minimum cash dividend ratio of 80% for mature stages without significant capital expenditure, and 40% if there are major expenditures planned[165]. Corporate Governance - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties, and no violations in decision-making procedures for external guarantees[6]. - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm, ensuring the authenticity and completeness of the annual report[6]. - The company has confirmed that all board members attended the board meeting, ensuring collective responsibility for the report's content[6]. - The company has not reported any instances of more than half of the directors being unable to guarantee the truthfulness and completeness of the annual report[6]. - The company adheres to corporate governance standards, ensuring transparency and fairness in its operations and decision-making processes[121]. Risk Management - The company emphasizes the presence of various operational risks in its future development plans, urging investors to understand the differences between plans, forecasts, and commitments[5]. - The company has established a comprehensive safety management system to mitigate risks associated with the storage and transportation of hazardous chemicals[119]. - The company is committed to enhancing its risk management framework to encompass all levels of operational risk, including safety and financial risks[116]. - The company faces market risks related to the chemical industry, which could impact its logistics demand and overall performance[118]. Strategic Development - The company has outlined its future development strategies and potential risks in detail within the report, specifically in the section discussing management's analysis[7]. - The company is focused on enhancing its supply chain strategy in response to the evolving international environment[30]. - The company aims to build seven logistics clusters across China to optimize resource allocation and enhance operational efficiency[31]. - The company is actively pursuing globalization by establishing subsidiaries in countries like Germany, Canada, the USA, and Malaysia[31]. - The company is committed to developing a chemical distribution business leveraging its extensive supply chain experience and networked logistics infrastructure, aiming to create a "Chemical Amazon"[112]. Environmental Commitment - The company has invested approximately 50.24 million yuan in environmental protection during the reporting period[183]. - The company has established environmental protection mechanisms and is classified as a key pollutant discharge unit in multiple cities[184]. - The company has implemented a comprehensive environmental monitoring plan, with wastewater monitoring frequency ranging from weekly to quarterly depending on the subsidiary[192]. - The company is committed to reducing greenhouse gas emissions as part of its environmental management strategy, with a focus on achieving carbon neutrality[195]. - The company has reduced carbon emissions by implementing measures such as using electric forklifts, which account for over 93.8% of its fleet[197]. Human Resources - The company emphasizes continuous training and development of its workforce, enhancing operational efficiency and safety standards[45]. - The total number of employees in the parent company is 117, while the total number of employees in major subsidiaries is 3,731, resulting in a combined total of 3,848 employees[158]. - The company has a total of 3,074 production personnel, 114 sales personnel, 150 technical personnel, 102 financial personnel, 161 administrative personnel, and 247 management personnel[159]. - The company’s compensation policy consists of a basic salary and performance bonuses, with a focus on value creation and a multi-dimensional evaluation system including KPI, 360, and OKR[160]. Market Position - The company has a strong competitive advantage in the chemical logistics industry, having built a good reputation and brand value over 20 years of business development[78]. - The company is positioned in a market with significant growth potential, as the chemical supply chain management industry in China is still in its early development stage[78]. - The company aims to establish a global point-to-point chemical supply chain delivery capability, focusing on a nationwide layout centered in Shanghai with seven major clusters[110]. - The company plans to enhance its delivery capabilities by entering the bulk hazardous chemical shipping market through new ship construction, leasing, and purchasing existing vessels[110]. Shareholder Engagement - The company provides opportunities for minority shareholders to express their opinions and ensures their rights are protected during the profit distribution process[169]. - The company has committed to not exceeding a 10% reduction in its shareholdings within two years post-lockup period[200]. - The company will announce any share reduction plans three trading days in advance[200]. - The company will ensure that any gains from non-compliance with shareholding commitments will be returned to the company[200].