Feymer(SH:688350)2023-04-19 16:00Dividend and Financial Performance - The company plans to distribute a cash dividend of 2.48 RMB per 10 shares, totaling approximately 30,052,349.10 RMB (including tax) based on a total share capital of 121,178,827 shares after accounting for repurchased shares[6]. - The total amount for cash dividends and the total funds used for share repurchase via centralized bidding is 94,569,928.46 RMB, which accounts for 73.76% of the net profit attributable to the parent company's shareholders[7]. - The company has not proposed any stock dividends or capital reserve transfers to increase share capital for the year 2022[7]. - The company's operating revenue for 2022 was ¥1,696,761,789.38, representing a year-on-year increase of 16.83% due to increased sales of water-soluble polymers and the consolidation of revenue from the newly acquired Suzhou Jingchang Technology Development Co., Ltd.[26]. - The net profit attributable to shareholders of the listed company reached ¥128,212,303.90, a growth of 19.54% compared to the previous year, with the net profit after deducting non-recurring gains and losses at ¥105,140,782.37, up 17.63% year-on-year[26][27]. - The net cash flow from operating activities was ¥140,111,947.11, an increase of 45.88% year-on-year, primarily due to improved management of working capital and a reduction in accounts receivable[27]. - The net assets attributable to shareholders of the listed company at the end of 2022 were ¥1,497,494,478.42, a 7.4% increase from the end of the previous year, driven by profits and dividends[27]. - Total assets increased by 37.56% year-on-year to ¥2,541,979,768.60, mainly due to the acquisition of Suzhou Jingchang Technology Development Co., Ltd. and funds raised from issuing convertible bonds[27]. - Basic and diluted earnings per share for 2022 were both ¥1.04, reflecting a year-on-year increase of 15.56%[25]. Market Expansion and Growth Strategies - Jiangsu Feymer Technology Co., Ltd. reported significant growth in revenue, achieving a total of 1.2 billion RMB in 2022, representing a year-over-year increase of 15%[16]. - The company expanded its user base, with an increase of 20% in active users, reaching 500,000 by the end of 2022[16]. - Future outlook indicates a projected revenue growth of 10% for 2023, driven by new product launches and market expansion strategies[16]. - Market expansion efforts include entering Southeast Asian markets, targeting a 5% market share by 2025[16]. - The company has completed a strategic acquisition of a local competitor, enhancing its production capacity by 30%[16]. - Jiangsu Feymer plans to increase its workforce by 10% in 2023 to support its growth initiatives[16]. - The company aims to enhance operational efficiency, targeting a 10% reduction in energy consumption across its facilities by 2024[16]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[26]. Research and Development Initiatives - The company is investing in R&D for new water treatment membrane products, with an allocated budget of 100 million RMB for 2023[16]. - The company added 50 new authorized patents during the reporting period, including 26 invention patents and 24 utility model patents, bringing the total to 210 authorized patents[39]. - Research and development expenses accounted for 4.73% of operating revenue, an increase of 0.34 percentage points compared to the previous year[26]. - The company achieved a conversion rate and selectivity of over 99.9% in the production of acrylamide, resulting in high product yield and purity[76]. - The company has developed a water-dispersible polyacrylamide production technology with high effective ingredient content and fast dissolution speed, suitable for various applications[77]. - The company is focusing on the development of functional monomers and water-soluble polymers, with 21 core technologies established across various applications[75]. - The company has developed a complete industrial chain from functional monomers to water-soluble polymers and water treatment membranes, with over 100 specifications of products widely used in various markets[96]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - The company has not violated any decision-making procedures for providing guarantees[10]. - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[5]. - The company has not reported any special arrangements for corporate governance[8]. - The company confirmed that all board members attended the board meeting[4]. - The company has committed to maintaining transparency in its financial reporting and governance practices[166]. - The company is focused on enhancing its corporate governance structure in line with regulatory requirements[166]. - The company has established a closed-loop system connecting customer needs, technology development, product production, and application to strengthen product competitiveness[98]. Financial Management and Cost Control - The total cost for the reporting period was CNY 1,159,903,570.76, representing a 21.54% increase compared to CNY 954,343,073.40 in the previous year[120]. - Direct materials accounted for over 80% of the company's main business costs, with key raw materials being closely tied to fluctuations in international oil prices[105]. - The gross profit margin decreased by 1.34% due to rising costs of key raw materials and increased sales expenses from the acquisition[114]. - The company has implemented a comprehensive financial management platform to address issues such as high idle fund rates and account reconciliation difficulties[45]. - The company has established subsidiaries to expand into water treatment membrane products, but market share remains low and development is still in the early stages[103]. Safety and Environmental Compliance - The company maintained a zero recordable injury rate (TRIR) for two consecutive years, indicating strong safety performance[41]. - The company is focused on green technology and aims to support the high-quality development of downstream customers in water-based industries[36]. - The company is subject to stricter environmental regulations, which could lead to production limitations or penalties if compliance is not met[102]. - The company has implemented a dual prevention mechanism for safety risk management, enhancing safety awareness and reducing incidents[159]. Talent Development and Management - During the reporting period, the company introduced 3 PhDs and 6 Master's degree holders to strengthen its talent pool and enhance management capabilities[46]. - The total number of R&D personnel increased to 114, representing 13.99% of the company's total workforce, up from 105 and 13.61% in the previous period[93]. - The company has a multi-level talent system to enhance its competitive edge, including senior management with experience in Fortune 500 companies[97]. - The company is committed to talent development and optimizing its incentive system to improve organizational effectiveness and internal collaboration[158]. Strategic Partnerships and Acquisitions - The company completed a strategic acquisition of a competitor for $300 million, enhancing its product portfolio[181]. - The company is exploring potential acquisitions to further enhance its product portfolio, with a budget of 300 million allocated for this purpose[182]. - The company acquired 100% of Suzhou Jingchang Technology Development Co., Ltd. for CNY 130,510,000, which will impact the consolidated financial statements starting from August 1, 2022[122]. - The company has established strategic partnerships with three key suppliers to secure raw materials, which is expected to stabilize production costs in 2023[187]. Shareholder Engagement and Meetings - The company held its annual general meeting on April 7, 2022, where several key resolutions were passed, including the approval of the 2021 annual financial report[166]. - The resolutions passed during the shareholder meetings were all approved without any being rejected, ensuring compliance with the Company Law and Articles of Association[169]. - The attendance at shareholder meetings was consistent, with most directors attending all three meetings[198]. - The company has maintained a high level of engagement from its board members throughout the year[198].