First(SH:603806)2023-04-21 16:00Dividend Distribution and Share Capital - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares and to increase capital by 4.00 shares for every 10 shares held, totaling 199,731,787.05 CNY in cash dividends and 532,618,099 shares to be distributed [3]. - The total share capital after the distribution will be 1,864,163,346 shares, based on the year-end total share capital of 1,331,545,247 shares [3]. - The cash dividend amount for 2022 was 199,731,787.05 RMB, which is 12.65% of the net profit attributable to ordinary shareholders [150]. - The company plans to distribute at least 10% of the distributable profits each year, with cash dividends accounting for no less than 20% of the profit distribution from 2021 to 2023 [147]. - In 2021, the company distributed a cash dividend of 3.50 RMB per 10 shares, totaling 332,886,311.80 RMB, and increased the share capital by 4.00 shares per 10 shares [148]. Financial Performance - The company's operating revenue for 2022 was CNY 18,877,495,145.99, representing a 46.82% increase compared to the previous year [16]. - Net profit attributable to shareholders decreased by 28.13% to CNY 1,578,569,558.82, while the net profit excluding non-recurring gains and losses fell by 32.53% to CNY 1,444,091,295.05 [16]. - The company's total assets increased by 47.54% to CNY 20,194,693,049.09, primarily due to the issuance of bonds and increased short-term borrowings [18]. - Basic earnings per share dropped by 29.17% to CNY 1.19, while diluted earnings per share decreased by 29.76% to CNY 1.18 [17]. - The company reported a net profit of CNY 339,053,406.91 in Q1 2022, with a significant drop in Q4 to CNY 45,179,098.25 [19]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm [2]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management team [2]. - The internal control audit report for 2022 received a standard unqualified opinion, confirming effective financial reporting internal controls as of December 31, 2022 [155]. - The company has not faced any penalties from securities regulatory agencies in the past three years [131]. - The company has confirmed that it will not engage in any business activities that compete directly or indirectly with its subsidiaries, committing to avoid conflicts of interest [179]. Research and Development - The company invested CNY 645 million in R&D in 2022, accounting for 3.42% of its revenue, maintaining a leading position in the industry [51]. - The company has a strong R&D team with 560 technical personnel, accounting for 15% of the total workforce, and holds 541 invention and utility model patents [52]. - The company is focusing on enhancing its research and development capabilities to innovate new technologies [125]. - The company plans to enhance its technological research and development across various materials, focusing on high-end products and new technology components [107]. - The company has developed various types of photovoltaic EVA films, including transparent EVA, white EVA, POE, and co-extruded POE films, enhancing solar module efficiency [45]. Market Position and Strategy - The company maintains a leading position in the global photovoltaic encapsulation materials market, with a market share exceeding 50% for several consecutive years [43]. - The company is actively developing electronic materials, with its photosensitive dry film being a key product in the PCB/FPC industry, already integrated into the supply chains of major PCB manufacturers [43]. - The company plans to enhance its market share in photovoltaic backsheet products while ensuring stable market share in photovoltaic encapsulation materials [36]. - The company is focusing on expanding its market share in photovoltaic backplanes and stabilizing its position in the photovoltaic film industry [104]. - The company aims to become a leading global supplier of electronic materials within 3 to 5 years, leveraging synergies between its products [104]. Environmental and Social Responsibility - The company invested RMB 36.1874 million in environmental protection during the reporting period [156]. - The company has implemented carbon reduction measures, successfully reducing CO2 equivalent emissions by 44,494 tons during the reporting period [164]. - The company has established distributed photovoltaic power generation systems on rooftops of its facilities, actively engaging in small ground-mounted photovoltaic power station projects [163]. - The company has disclosed its ESG report, highlighting its commitment to environmental, social, and governance responsibilities [167]. - The company contributed 919,000 yuan to poverty alleviation and rural revitalization projects, supporting initiatives such as cultural stage construction and photovoltaic charity assistance [170]. Governance and Management - The company has conducted 14 board meetings and 14 supervisory meetings during the reporting period, ensuring effective governance and compliance with regulations [117]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 7.9315 million yuan [130]. - The company’s senior management performance evaluation links compensation to the company's profitability, aligning incentives with business performance [153]. - The company has established a training management system to enhance employee capabilities and ensure sustainable development [144]. - The company has implemented measures to enhance the operation and management of pollution prevention facilities, ensuring stable operation and compliance with emission standards [157]. Future Outlook and Expansion Plans - The company plans to expand its photovoltaic encapsulation film production capacity to over 2.5 billion square meters annually by 2023, capable of packaging 260GW of components [22]. - The company is establishing a new production base in Vietnam with an annual capacity of 250 million square meters for high-efficiency battery encapsulation film, following the establishment of a base in Thailand [26]. - The company plans to continue expanding its photovoltaic product lines and enhance its market presence in the renewable energy sector [84]. - The company aims to expand its production capacity for photovoltaic materials and electronic materials, including projects in Jiaxing, Vietnam, and Lin'an [106]. - The company plans to enhance its market presence and invest in new product development to drive future growth [125].