永和股份(605020) - 2022 Q4 - 年度财报

Financial Performance - The net profit for the consolidated financial statements in 2022 was ¥300,365,453.14, with the net profit attributable to the parent company shareholders being ¥300,171,486.89[7] - The parent company achieved a net profit of ¥128,878,513.19 for 2022, with a statutory surplus reserve of ¥12,887,851.32, resulting in a cumulative distributable profit of ¥416,420,885.36 as of December 31, 2022[7] - The proposed cash dividend is ¥2.50 per 10 shares, totaling ¥67,700,584.25 (including tax), which represents a cash dividend payout ratio of 22.55%[7] - The company's operating revenue for 2022 reached ¥3,803,636,163.56, representing a 27.18% increase compared to ¥2,990,694,877.58 in 2021[24] - The net profit attributable to shareholders for 2022 was ¥300,171,486.89, an 8.03% increase from ¥277,851,010.83 in 2021[24] - The net cash flow from operating activities significantly increased by 145.71% to ¥441,862,502.01 in 2022, compared to ¥179,829,445.16 in 2021[24] - The total assets of the company as of the end of 2022 were ¥5,353,995,624.68, a 52.72% increase from ¥3,505,858,995.42 at the end of 2021[24] - The basic earnings per share for 2022 was ¥1.13, a decrease of 5.04% from ¥1.19 in 2021[25] - The weighted average return on net assets for 2022 was 13.74%, down by 3.14 percentage points from 16.88% in 2021[25] - The net profit after deducting non-recurring gains and losses was ¥267,563,836.22, showing a decrease of 2.52% from ¥274,485,284.49 in 2021[24] Production and Sales - The production volume of fluorocarbon chemicals reached 184,000 tons, an increase of 24.55% year-on-year, with sales volume of 95,600 tons, up 10.95%[36] - The average gross margin for fluorocarbon chemicals was 9.38%, a decrease of 11.36 percentage points compared to the previous year[36] - The revenue from fluoropolymer materials was 848.95 million RMB, a year-on-year increase of 42.47%, with an average gross margin of 37.52%, up 10.74 percentage points[37] - The chemical raw materials segment saw production of 212,700 tons, a year-on-year increase of 77.04%, with revenue of 409.88 million RMB, up 108.43%[40] - The company effectively reduced production costs by leveraging its integrated industrial chain and enhancing the value of fluoropolymer materials[35] Research and Development - The company holds a total of 52 patents, including 20 invention patents, with 5 new invention patents added in 2022, reflecting its commitment to R&D and innovation[44][45] - The company’s R&D expenses increased by 81.05% to CNY 52.11 million, indicating a strong focus on innovation[71] - The company emphasizes R&D investment, focusing on the development of fluorinated polymers, fluorinated fine chemicals, and new refrigerants, ensuring the practicality of innovation projects[112] - The company has established research institutes in Shaowu, Inner Mongolia, and Quzhou production bases to enhance R&D capabilities and attract talent[112] - The company is actively collaborating with universities such as Zhejiang University and Xi'an Jiaotong University on various R&D projects, enhancing its innovation capabilities[113] Strategic Initiatives - The company plans to increase its total share capital from 270,802,337 shares to 379,123,272 shares by issuing 4 new shares for every 10 shares held[8] - The company raised 800 million CNY through the issuance of 8 million convertible bonds in October 2022, aimed at funding new projects and enhancing liquidity[46] - A strategic cooperation framework agreement was signed with Xue Tian Salt Industry Group in October 2022 to explore deep collaboration in the fluorochemical and chlor-alkali sectors[46] - The company acquired 100% equity of Shilei Fluorochemical in December 2022 to secure upstream supply of methane chlorides, enhancing its competitive position in the fluorochemical industry[46] - The company plans to deepen cooperation with universities and research institutions to enhance its R&D capabilities and foster high-level technical talent[161] Market and Industry Trends - The demand for refrigerants is primarily driven by the stable growth in the production and consumption of air conditioners, refrigerators, and automobiles[55] - The HFCs consumption and production will be frozen at the baseline value starting from 2024, with a reduction to below 20% of the baseline by 2045[55] - The Chinese government has implemented a quota system for the production, sale, and use of HCFCs, with a phased elimination schedule for developed and developing countries[105] - The Kigali Amendment to the Montreal Protocol mandates developed countries to reduce HFC consumption and production to 15% of their baseline by 2036, while developing countries must freeze HFC consumption by 2024 and reduce it to 20% of their baseline by 2045[106] - The market share of green and efficient refrigerants is targeted to increase by 20% by 2022, promoting the transition to low GWP refrigerants[97] Governance and Compliance - The company adheres to legal and regulatory requirements for corporate governance, ensuring transparency and protecting shareholder rights[176] - The company has established a board of directors and supervisory board that comply with legal requirements, promoting effective governance and oversight[177] - The company emphasizes cooperation with stakeholders to promote sustainable development while maximizing shareholder value[178] - The company has implemented stock incentive plans for senior management, with the financial director receiving 31.96 million yuan in remuneration[183] - The company’s independent directors have not received any remuneration during their tenure, indicating a focus on governance and accountability[183]