RSPC(SZ:002493)2021-04-14 16:00Dividend Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders, based on a total share capital of 6,750,350,000 shares[2] - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares for the year 2020, with a capital reserve conversion of 5 shares for every 10 shares held[117] - In 2020, the total cash dividend amounted to 1,012,552,500 CNY, representing 13.85% of the net profit attributable to ordinary shareholders[118] - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, totaling 1,012,552,500 CNY, which represents 100% of the profit distribution amount[119] Business Stability and Operations - The company reported no changes in its main business since its listing, indicating stability in operations[9] - The company has not reported any changes in its controlling shareholders, reflecting consistent ownership structure[9] - The company maintains its registered address in Hangzhou, Zhejiang Province, ensuring compliance with local regulations[6] - The company has engaged Tianjian Accounting Firm for auditing services during the reporting period[10] - The company has appointed Guo Xin Securities as its sponsor institution for continuous supervision from October 12, 2020, to December 31, 2021[10] Financial Performance - The company's operating revenue for 2020 was ¥107.26 billion, representing a 30.02% increase compared to ¥82.50 billion in 2019[11] - The net profit attributable to shareholders for 2020 was ¥7.31 billion, a significant increase of 231.17% from ¥2.21 billion in 2019[11] - The net cash flow from operating activities reached ¥17.51 billion, a remarkable turnaround from a negative cash flow of ¥2.05 billion in 2019, marking a 953.21% increase[11] - Basic and diluted earnings per share for 2020 were both ¥1.14, up 225.71% from ¥0.35 in 2019[11] - The company's total assets at the end of 2020 were ¥241.51 billion, a 32.27% increase from ¥182.59 billion at the end of 2019[11] - The net assets attributable to shareholders increased by 63.90% to ¥36.97 billion from ¥22.55 billion in 2019[11] Project Development and Investment - The company is actively investing in a 40 million tons/year integrated refining and chemical project at the Zhoushan green petrochemical base, with the first phase running at full capacity[17] - The second phase of the project has commenced operations as of November 1, 2020, with a focus on safe and steady production[17] - The company has a diverse product range, including over 30 types of chemical and oil products, and is the first domestic company with an integrated industrial chain from crude oil to aromatics and polyester[17] - The Zhejiang Petrochemical refining and chemical integration project has entered a capacity release period, significantly contributing to the company's performance in 2020[23] Market Position and Competitiveness - The PTA supply-demand balance is tightening, leading to improved profitability for the company, which is a leading player in the PTA industry with relatively low processing costs[23] - The company benefits from strong pricing power in the upstream and downstream markets, which has positively impacted its gross margin[23] - The company is focused on expanding its product offerings, including polyester filament, films, and bottle sheets, to meet diverse market needs[21] - The company is actively involved in the development of new chemical products, including methacrylate and phenol, to diversify its product portfolio[20] Production Capacity and Technology - The company's production capacity for paraxylene is 5.6 million tons per year, accounting for 21.5% of the national total capacity as of 2020[25] - The company's benzene production capacity is approximately 1.67 million tons per year, representing 10.3% of domestic capacity[25] - The company's ethylene glycol production capacity is 850,000 tons per year, which is 4.5% of the domestic capacity[26] - The company's polyethylene production capacity is 750,000 tons per year, accounting for 3.3% of the domestic capacity[26] - The company's polypropylene production capacity is 900,000 tons per year, representing 3.2% of domestic capacity[26] - The company has a PTA production capacity of approximately 13 million tons, making it a leading player in the industry[27] Research and Development - The company has established an "Academician Workstation" in 2012 and a "Postdoctoral Research Station" in 2013, enhancing its R&D capabilities[37] - The company has successfully implemented a new technology route using fuel oil to produce aromatic products, significantly reducing raw material procurement costs[37] - The company has developed a mature production technology for ultra-fine denier products, with a focus on producing fibers below 0.5 dpf, primarily used in high-end fabrics[48] - The company has introduced a composite fiber technology that combines multiple fiber characteristics, enhancing fabric softness and breathability, widely used in high-end fabric weaving[48] Environmental Responsibility - The company has implemented environmental protection measures, with sulfur dioxide emissions at 3.433 tons per year, well below the permitted limit of 121.93 tons[162] - Nitrogen oxide emissions from the company are recorded at 30.77 tons per year, significantly lower than the allowed 102.59 tons[162] - The company has established a dedicated HSE committee to oversee safety, environmental protection, and occupational health[167] - The company has not faced any administrative penalties related to environmental issues during the reporting period[166] Employee Development and Management - The total number of employees in the company is 17,544, with 2,391 in the parent company and 15,153 in major subsidiaries[198] - The company emphasizes the importance of employee training and has established a robust career development platform[200] - The training program focuses on systematic, professional, and practical skills enhancement[200] - Continuous improvement of employee business capabilities and overall quality is a key objective[200] Financial Management and Risk - The company has strengthened its internal control management and risk awareness, ensuring effective risk management[26] - The company emphasizes market-oriented production and maintains a balance between production and sales to enhance operational efficiency[26] - The company is likely to continue monitoring and optimizing its cost structure to enhance profitability in the competitive petrochemical market[60][61][62][63] - The company is committed to strategic procurement to mitigate raw material cost fluctuations and enhance sales management[108] Shareholder Structure - The total number of common shareholders at the end of the reporting period is 21,152[178] - Zhejiang Rongsheng Holding Group Co., Ltd. holds 61.19% of the shares, amounting to 4,130,726,215 shares[178] - The top ten shareholders include various investment funds and individuals, with the largest being Zhejiang Rongsheng Holding Group Co., Ltd.[180] - The company has not undergone any changes in its controlling shareholder during the reporting period[182]