NOVEL(SZ:002014)2023-03-10 16:00Financial Performance - The company's operating revenue for 2022 was CNY 3,304,135,248.82, representing a 9.27% increase compared to CNY 3,023,694,551.66 in 2021[21] - The net profit attributable to shareholders for 2022 was CNY 362,828,955.63, up 14.85% from CNY 315,913,031.07 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 321,533,045.96, reflecting a 14.99% increase from CNY 279,628,359.55 in 2021[21] - Cash flow from operating activities increased by 83.49% to CNY 543,555,266.47, compared to CNY 296,233,778.62 in 2021[21] - Basic earnings per share rose to CNY 0.60, a 15.38% increase from CNY 0.52 in the previous year[21] - The weighted average return on equity was 17.01%, up from 15.90% in 2021[22] - Total assets at the end of 2022 were CNY 3,572,752,541.11, an 18.71% increase from CNY 3,009,639,907.94 in 2021[22] - The net assets attributable to shareholders increased to CNY 2,278,713,930.72, a 7.05% rise from CNY 2,128,623,399.86 in 2021[22] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 4 per 10 shares, totaling CNY 24,499,674.64 based on 612,491,866 shares[4] - The company reported a net profit of ¥238,075,201.13 for the year 2022, with a total distributable profit of ¥486,751,783.95 after accounting for reserves and previous dividends[117] - A cash dividend of ¥4.00 per 10 shares (including tax) was proposed, totaling ¥244,996,746.40, which represents 100% of the distributable profit[118] - The profit distribution policy remains unchanged, adhering to the cash dividend policy outlined in the company's articles of association[114] Market and Product Development - The company is focusing on green packaging technologies, investing in new materials and processes to enhance sustainability and meet market demands[33] - The main products contributing to revenue include composite flexible packaging materials, which are lightweight and cost-effective, widely used in food, daily chemicals, and pharmaceuticals[34] - The international business, particularly in the Southeast Asian market, saw revenue of CNY 352.55 million, marking a 21.58% increase and surpassing 10% of total revenue for the first time[42] - The company is actively expanding its overseas market presence, leveraging new tax benefits from RCEP to enhance export opportunities[49] - The company is committed to innovation in packaging technology, aligning with national policies for sustainable development and environmental protection[31] Research and Development - R&D expenses increased by 11.46% to CNY 134,981,082.38 in 2022, representing 4.09% of operating revenue[58] - The number of R&D personnel increased by 11.91% to 357 in 2022, with a higher proportion of personnel holding bachelor's degrees[58] - Research and development investments increased by 30% in 2022, focusing on innovative packaging solutions[99] - The company applied for 14 invention patents and 26 utility model patents during the reporting period, with 12 invention patents and 26 utility model patents granted[43] Environmental Responsibility - The company emphasizes sustainable development, having completed the second phase of its volatile organic compounds (VOCs) governance project, marking a commitment to clean production[43] - The company has implemented measures to ensure compliance with environmental protection regulations and standards[132] - The company achieved a score of 92.5 in the environmental credit rating evaluation, indicating a strong commitment to environmental responsibility[137] - The company has implemented measures to reduce carbon emissions, including phasing out outdated production capacity and using energy-efficient equipment[138] Corporate Governance - The company maintains a robust corporate governance structure, ensuring compliance with legal regulations and protecting shareholder rights[79] - The company has established an independent financial accounting department and management system, ensuring no interference from shareholders[82] - The company has a well-established organizational structure with independent operational authority[82] - The company emphasizes compliance with legal regulations and focused on maintaining the rights of all shareholders[107] Risk Management - The company has acknowledged potential risks in its future development, which are detailed in the management discussion and analysis section[4] - The company faces industry competition risks due to low entry barriers and disordered production scale, impacting profit margins[75] - The company is monitoring raw material price fluctuations, particularly from petroleum products, to mitigate impacts on profitability[75] Employee and Management - The total number of employees at the end of the reporting period was 2,252, with 1,085 in the parent company and 1,167 in major subsidiaries[110] - The company maintains a performance-based compensation policy, linking employee salaries to company performance and individual contributions[111] - The company has established a comprehensive performance evaluation system for senior management, which is overseen by the board of directors and the compensation and assessment committee[120] Shareholder Information - The company reported a change in shares, with the total number of shares increasing from 514,016,724 to 612,491,866 during the reporting period[181] - The company had a total of 22,478 common shareholders at the end of the reporting period, with significant shareholders including Huangshan Yongjia Investment Co., Ltd. holding 31.28% and Aorijins Technology Co., Ltd. holding 22.20%[187] - The company’s stock structure includes 4,351,900 shares held by Dongfang Securities Co., Ltd. under a value-oriented equity fund[188] Financial Management - The company did not engage in any entrusted loans during the reporting period, maintaining a conservative financial approach[175] - The company’s total liabilities did not exceed 70% of the asset guarantee balance, indicating a healthy financial structure[173] - The company’s cash asset management was conducted without any high-risk investments or potential impairments during the reporting period[175]