Quechen Company(605183)2023-04-19 16:00Investment and Financial Performance - The company holds a 25% stake in Wuxi Cuichun Biological Materials Technology Co., Ltd. as part of its investment strategy[2]. - The total assets at the beginning of the period were CNY 248,558,197.60, with a year-end total of CNY 205,022,900, reflecting a fair value loss of CNY 3,535,297.60[3]. - The company achieved actual returns of CNY 651.61 from foreign exchange derivatives and CNY 472,900 from commodity derivatives in the reporting period[4]. - The company aims for a 25% increase in revenue for 2023, with net profit also targeted to grow by 25%[12]. - The company plans to invest CNY 400 million in fundraising projects and CNY 200 million in capital expenditures from its own funds[12]. - The total amount of guarantees during the reporting period (excluding guarantees to subsidiaries) was CNY 27,858,400.00, which accounts for 1.05% of the company's net assets[50]. - The company provided guarantees totaling CNY 101,404,797.73 to subsidiaries during the reporting period[50]. - The company has no overdue guarantees that may incur joint liability for repayment[50]. - The company has entrusted financial management with a total amount of CNY 36,500,000, with an outstanding balance of CNY 20,500,000[53]. - The annualized return rates for bank financial products range from 1.80% to 4.13%[53]. - The total amount of funds raised from bank deposits reached approximately 219.34 million, with a return of principal and interest confirmed[56]. - The total amount of entrusted loans for fundraising projects is ¥129,071,633.02, with the same amount as the outstanding balance[181]. - The total number of shares is 417,587,900, with a decrease of 131,000 shares due to the repurchase and cancellation of shares from departing employees[187][190]. - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares to all eligible shareholders, based on the total share capital as of the dividend record date[195]. Production and Capacity Expansion - The company is actively expanding production capacity and exploring new materials to reduce carbon footprints beyond silica[8]. - The silica microsphere project has completed initial customer samples, aiming to break foreign chemical companies' technology monopolies[11]. - The company reported a wastewater treatment capacity of 3,200 tons per day for its second-phase facility, operating normally[103]. - The company is constructing a project with an annual production capacity of 70,000 tons of water glass and 75,000 tons of high-dispersion silica for green tires, which is currently under development[133]. - The company has implemented a coal-to-gas project in its subsidiary, marking a significant step in energy efficiency and environmental protection[136]. - The company has a diverse geographical production base, reducing delivery risks and ensuring strong supply capabilities[149]. Research and Development - The company is enhancing its R&D capabilities by establishing domestic and international R&D centers and collaborating with top universities and research institutes[11]. - The company has established a new materials technology research institute to enhance R&D capabilities and core competitiveness[180]. - The company is focusing on the development of advanced materials, including superconductors and graphene, to stay ahead in the market[179]. Environmental Compliance and Sustainability - The actual discharge of chemical oxygen demand (COD) was 13.27527 mg/L, well below the limit of 40 mg/L, indicating compliance with environmental standards[108]. - The company has developed a technology that uses biomass (rice husks) instead of natural gas as fuel, significantly reducing CO2 emissions[117]. - The company received the "Environmental Integrity Enterprise" title in Anhui province in 2022[121]. - The company achieved a bronze rating from EcoVadis, an international CSR evaluation organization, in 2022[122]. - The company’s desulfurization and denitrification systems have an efficiency of over 95% and 75% respectively, operating normally[112]. - The company’s wastewater treatment facilities have a total capacity of 3,000 tons per day, functioning normally[112]. - The company’s air pollution control systems are designed to meet stringent emission standards, with actual emissions of sulfur dioxide at 4.17 mg/m3 against a limit of 400 mg/m3[112]. - The company has implemented strict control measures for waste and noise to ensure compliance with national and local regulations[116]. - The company invested 15.58 million yuan in environmental protection during the reporting period[129]. - The company has established mechanisms for environmental protection and is committed to maintaining compliance with relevant regulations[129]. Corporate Governance and Management - The company has implemented a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[16]. - The company’s supervisory board consists of 3 members, including 1 employee supervisor, complying with legal requirements[26]. - The company’s board of directors has established specialized committees, including an audit committee and a nomination committee[42]. - The company’s board of directors and senior management remuneration is determined based on performance evaluation results[33]. - The company has a structured assessment and incentive system for directors and senior management, focusing on financial performance and business innovation capabilities[97]. - The company has maintained effective internal control over financial reporting, with no significant deficiencies identified during the reporting period[97]. - The company has developed a subsidiary management system to enhance oversight and governance of its subsidiaries[98]. - The company has a clear compensation management system that aligns employee remuneration with their contributions and local cost of living[84]. Employee and Workforce Management - The total number of employees in the parent company and major subsidiaries is 691, with 519 in production roles and 86 in technical positions[67]. - The employee education level includes 3 with doctoral degrees, 15 with master's degrees, and 110 with bachelor's degrees, indicating a well-educated workforce[67]. - The company has implemented a comprehensive training program for employees at different levels to enhance organizational performance[84]. Shareholder Relations and Communication - The company engaged in investor relations activities through various channels, including strategy meetings and performance briefings[27]. - The company approved the 2022 Q1 report during the board meeting on April 27, 2022[24]. - The company approved the 2022 semi-annual report and the special report on the use of raised funds during the board meeting on August 18, 2022[24]. - All resolutions regarding the 2022 quarterly reports were passed unanimously[46][47][48]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the importance of investment risk awareness[195].