三达膜(688101) - 2022 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2022 was CNY 217,902,483.86, with undistributed profits amounting to CNY 1,584,999,370.12[5]. - The company achieved operating revenue of CNY 1,259,160,685.98 in 2022, representing a year-on-year increase of 9.42%[24]. - Net profit attributable to shareholders was CNY 217,902,483.86, a decrease of 11.82% compared to the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 186,487,630.01, down 14.63% year-on-year[24]. - The net cash flow from operating activities increased by 11.85% to CNY 247,329,288.25[24]. - The company's total assets reached CNY 5,298,919,980.32 at the end of 2022, a 9.15% increase from the previous year[24]. - Basic earnings per share decreased to CNY 0.65, down 12.16% from CNY 0.74 in 2021[25]. - The R&D expenditure accounted for 4.83% of operating revenue, an increase of 0.29 percentage points compared to the previous year[25]. - The weighted average return on net assets was 6.24%, a decrease of 1.16 percentage points from 2021[25]. - The company reported a significant decline in investment income from joint ventures compared to the previous year, contributing to the decrease in net profit[25]. Dividend Policy - The company plans to not distribute cash dividends, issue bonus shares, or convert reserves into share capital for the 2022 fiscal year, opting to carry forward undistributed profits to the next year[5]. - The company has a cash dividend policy that prioritizes cash dividends, with a minimum distribution ratio of 80% for mature companies without major capital expenditures[193]. - The company’s cash dividend policy is designed to protect the rights of minority investors, ensuring transparency and compliance with regulations[195]. Governance and Compliance - The report includes a standard unqualified audit opinion from Rongcheng Accounting Firm, ensuring the accuracy and completeness of the financial statements[5]. - The company has confirmed that all board members were present at the board meeting, ensuring proper governance and oversight[5]. - There are no special arrangements for corporate governance that apply to the company[8]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation and risk management[145]. - The company maintains transparent information disclosure practices, ensuring all investors have equal access to information[148]. - The company’s governance structure complies with relevant laws and regulations, ensuring the legality of meeting procedures and voting results[154]. - The company has not faced any penalties from securities regulatory agencies in the past three years[175]. - The internal control system is strictly implemented, with regular audits conducted by the audit department to ensure compliance and effective execution of internal controls[198]. - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies were found during the evaluation[199]. Research and Development - The company is actively engaged in research and development of graphene membranes, which are anticipated to enhance performance in water purification applications[15]. - The total R&D investment for the year was approximately ¥60.82 million, representing a 16.47% increase from the previous year's ¥52.21 million, with R&D expenses accounting for 4.83% of total revenue[75]. - The company has applied for a total of 334 patents, including 200 invention patents, 132 utility model patents, and 2 design patents, with 187 patents granted as of December 31, 2022[72]. - The company has established a comprehensive R&D platform based on the "RDPA" system, focusing on research, development, pilot testing, and application[64]. - The company is committed to expanding its R&D efforts as a key part of its growth strategy, supported by institutional guarantees and innovation incentives[64]. - The company has emphasized the importance of intellectual property and patent technology applications, with 32 new patents filed during the reporting period[71]. Operational Strategy - The company is exploring new business models, including Build-Operate-Transfer (BOT) and Transfer-Operate-Transfer (TOT), to enhance operational efficiency and service delivery[15]. - The company has developed a range of membrane products including tubular ceramic membranes, spiral membranes, flat membranes, hollow fiber membranes, and composite ceramic nanofiltration cores, which are widely used in various industries such as pharmaceuticals, food and beverage, and environmental protection[40]. - The company’s business model includes various operational strategies such as EPC, BOT, BT, and TOT, allowing flexibility in meeting user requirements[46]. - The company provides integrated membrane technology solutions, generating revenue through sales of membrane materials, components, and systems, with a focus on long-term stable income from consumable parts[47]. - The company is committed to improving customer satisfaction by optimizing process flows and reducing operational costs through technology upgrades[142]. Market and Industry Trends - The membrane technology application industry is expected to maintain a high gross margin level due to strong market demand and high technical barriers[54]. - The domestic membrane industry is expected to see an increase in application levels and expansion into new fields, driven by advancements in domestic membrane material technology[60]. - The company aims to expand its market presence through innovative water treatment solutions and strategic partnerships in the environmental technology sector[15]. - The market for industrial wastewater reuse is expected to grow by 20% annually, driven by environmental and clean production requirements[138]. - The municipal drinking water purification market is projected to grow at an annual rate of over 15% due to ongoing improvements in municipal water quality[138]. Risks and Challenges - The company has detailed various operational risks and corresponding mitigation measures in the report, emphasizing the importance of risk management[4]. - The company faces risks in market expansion due to differing local policies and intense competition in new markets[94]. - The company’s revenue is closely tied to macroeconomic conditions and environmental policies, which can lead to income volatility[97]. - Accounts receivable are subject to risks due to slow payment from downstream customers and local government financial conditions affecting wastewater treatment fees[93]. - The company is facing risks related to the economic benefits of its fundraising projects, which may not meet expectations due to market environment changes and project delays[104]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,159, with 668 in production, 61 in sales, 224 in technology, and 45 in finance[188]. - The company has established a scientific and fair compensation mechanism based on the importance and scarcity of positions, ensuring employee stability and satisfaction[190]. - Total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 478.48 million[171]. - The company has implemented a training and development management system to enhance employee skills and promote sustainable development[191]. - The management team includes experienced professionals with extensive backgrounds in investment and technology sectors, contributing to strategic decision-making[170]. Sustainability and ESG - The company emphasizes the importance of ESG, integrating it into its core business operations, viewing it as a cornerstone for sustainable and long-term development[200]. - The company is committed to green development, focusing on pollution prevention, waste reduction, and energy conservation as part of its operational strategy[200]. - The company aims to establish a high-efficiency, clean, low-carbon, and circular green factory as part of its long-term development strategy[200].