NCIC(SZ:002246)2023-04-17 16:00Financial Performance - The company reported a total revenue of 549,034,794 RMB for the year 2022, with a cash dividend of 0.50 RMB per 10 shares distributed to all shareholders[5]. - The company's operating revenue for 2022 was ¥2,558,664,885.79, a decrease of 2.84% compared to ¥2,633,493,895.43 in 2021[23]. - The net profit attributable to shareholders for 2022 was ¥93,028,429.68, representing a decline of 23.45% from ¥121,532,967.58 in 2021[23]. - The net cash flow from operating activities decreased by 53.47% to ¥109,020,551.57 in 2022, down from ¥234,305,462.47 in 2021[24]. - The basic earnings per share for 2022 was ¥0.17, down 22.73% from ¥0.22 in 2021[24]. - Total assets at the end of 2022 increased by 4.03% to ¥4,723,608,369.47 from ¥4,540,420,567.49 at the end of 2021[24]. - The company reported a significant drop in non-operating income, totaling ¥32,902,994.71 in 2022, down from ¥55,244,752.76 in 2021[30]. - The weighted average return on equity decreased to 3.34% in 2022 from 4.55% in 2021[24]. - The company achieved a participation rate of 51.81% in the 2021 annual general meeting held on May 18, 2022[148]. - The company reported a distributable profit of ¥1,118,592,201.88 for the year 2022[200]. Business Operations - The company’s main business scope includes the production of nitrocellulose and sulfuric acid, as well as the design, development, and manufacturing of military protective equipment[20]. - The company has undergone significant changes in its main business operations since 2013, expanding into general and specialized equipment manufacturing[19]. - The company plans to shift towards an integrated supply system combining pumps with control systems and remote monitoring in response to market demands[33]. - The demand for special industrial pumps is expected to remain strong in 2023, particularly in the phosphoric chemical market and for energy-saving pumps[33]. - The cellulose and its derivatives market is projected to see stable demand, with a notable growth in high-quality ink products anticipated[33]. - The company has established itself as a leading manufacturer of nitrocellulose products, with a comprehensive product range and a marketing network spanning over 50 countries and regions[37]. - The company maintains a leading position in the activated carbon and industrial hazardous material protection sectors, with products meeting international standards and domestic leadership[37]. - The company’s subsidiary, Shanxi Xinhua Defense Chemical Equipment Research Institute, is the only research and production unit for "nuclear, chemical, and biological" protective equipment in China, focusing on high-end markets[37]. - The company has developed 53 new pump models in the past year, focusing on the design and development of composite ceramic chemical slurry pumps[67]. - The company has been involved in significant national projects, including the "863" program and manned spaceflight engineering[66]. Market and Industry Trends - The global activated carbon industry faces challenges such as stricter environmental and energy-saving requirements, and rising labor costs, leading to sluggish overall market growth[34]. - The domestic activated carbon market is transitioning from the introduction phase to the growth phase, with rapid demand increase in downstream sectors, particularly under the "carbon neutrality" and "carbon peak" strategic goals[34]. - In 2023, with the continuous recovery of the domestic economy, the demand for activated carbon, catalysts, and environmental protection equipment is expected to steadily recover, indicating a trend of steady growth supported by policies and market responses[34]. - The environmental protection equipment market is expanding due to stricter pollution discharge and treatment standards, providing broader market opportunities for new and upgraded environmental equipment[34]. - The company plans to optimize its industrial layout and product structure, focusing on cellulose and its derivatives, activated carbon, and special industrial pumps as part of its multi-business strategy[129]. Research and Development - The company holds a total of 85 authorized invention patents and 81 utility model patents, indicating strong R&D capabilities[58]. - The company’s R&D center has been recognized as a provincial enterprise technology center, enhancing its innovation capabilities[67]. - The company reported a research and development investment of CNY 117,187,621.94 in 2022, an increase of 6.19% compared to CNY 110,361,394.43 in 2021[106]. - The number of R&D personnel increased to 369 in 2022, up by 3.94% from 355 in 2021[106]. - The company has made significant advancements in the research of carbon-based catalysts, achieving a breakthrough in the protective capabilities against hydrogen cyanide and chlorocyanide[104]. Governance and Management - The company has established an independent financial department and audit department, ensuring a separate accounting system and independent tax reporting[145]. - The company has 12 board members, including 4 independent directors, ensuring clear responsibilities and compliance with governance standards[142]. - The company has implemented a transparent performance evaluation and incentive mechanism for directors and senior management, promoting accountability[143]. - The company has maintained independence from its controlling shareholder in terms of assets, personnel, finance, and operations, with no shared accounts or mixed operations[145]. - The company has revised its governance documents to enhance compliance with legal and regulatory requirements, reflecting a commitment to good corporate governance practices[143]. Employee and Compensation Policies - The company has established a diverse employee compensation system, ensuring that core talent receives a greater share of compensation[71]. - The company has implemented a performance-based salary system, linking employee compensation closely to company, department, and individual performance[188]. - The overall salary level of employees has increased in 2022, with a focus on incentivizing research and key positions[188]. - The company has a structured training program to enhance employee skills and support talent development, ensuring a strong talent pool for sustainable growth[189]. Cash Dividend Policy - The company has established a cash dividend policy, ensuring that at least 10% of the distributable profit is allocated as cash dividends annually[194]. - The cash dividend distribution policy states that in three consecutive fiscal years, the total cash dividends should not be less than 30% of the average distributable profit for those years[195]. - The cash dividend per 10 shares is set at ¥0.50 (before tax), with no bonus shares issued[200][199]. - The cash dividend distribution plan is based on a total share capital of 549,034,794 shares[200][199]. - The independent directors have fulfilled their responsibilities and ensured the protection of minority shareholders' rights[199].