Jiangsu Guoxin (SZ:002608)2023-08-04 16:00Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 3,778,079,704 shares[2]. - The company has a total of 3,778,079,704 shares, with a proposed cash dividend of 1 CNY per 10 shares[115]. - The company plans to distribute a cash dividend of 377,807,970.40 CNY, which represents 100% of the total profit distribution amount[115]. Business Transformation - The company has undergone a significant business transformation since 2016, shifting its main operations from shipbuilding to energy and trust services[10]. - The company’s main business operations now include energy production and trust services, reflecting a strategic pivot in its business model[10]. - The company is focused on energy efficiency, clean energy, and modern power services, with ongoing investments in renewable energy projects[22]. Financial Performance - Total revenue for 2022 reached ¥32,438,816,867, an increase of 12.08% compared to ¥28,879,258,701 in 2021[12]. - Net profit attributable to shareholders was ¥668,173,224.42, a significant increase of 120.49% from a loss of ¥342,811,207.86 in 2021[12]. - Operating cash flow improved to ¥4,717,322,862.02, representing a 379.12% increase from a negative cash flow of ¥1,710,902,630.62 in 2021[12]. Assets and Liabilities - Total assets at the end of 2022 were ¥82,834,609,921.87, reflecting a 2.93% increase from ¥80,454,321,811.09 in 2021[12]. - The company reported a net asset attributable to shareholders of ¥28,458,373,509.70, a decrease of 0.54% from ¥28,602,589,565.01 in 2021[12]. - The company has a total of ¥2,014,786,230.78 in restricted assets, including cash and accounts receivable, due to various guarantees[58]. Trust Business - The company’s financial segment includes trust business, which is a significant source of revenue, with a focus on asset management and wealth management services[24]. - Jiangsu Trust, a subsidiary, ranks second in net profit per capita among trust companies in the industry for 2021-2022[32]. - The trust business will transition from traditional financing models to a more diversified asset management approach, enhancing service to the real economy[73]. Environmental Compliance - Jiangsu Guoxin's total SO2 emissions reached 324.081 tons, NOx emissions were 518.832 tons, and particulate matter emissions were 34.881 tons, all within the annual limits[126]. - Jiangsu Guoxin's environmental compliance reflects adherence to the DB32/4148-2021 standards for coal-fired power plants[128]. - The company has established a self-monitoring scheme for environmental compliance, with regular testing of pollutants[135]. Corporate Governance - The company has established a governance structure with clear responsibilities among shareholders, the board, and management[81]. - The board of directors consists of seven members, including three independent directors, ensuring a fair and transparent selection process[82]. - The company has a structured approach to evaluating and implementing board suggestions, ensuring that relevant advice is considered[105]. Market Expansion - The company plans to expand its market presence by entering three new provinces in 2023, aiming for a 30% increase in market share[96]. - Jiangsu Guoxin is exploring potential mergers and acquisitions to enhance its operational capabilities and market reach[96]. - The company is actively pursuing clean energy projects to reduce carbon emissions and enhance energy efficiency[136]. Research and Development - The company has invested significantly in R&D, leading to improved production efficiency and several patented technologies[32]. - Jiangsu Guoxin's R&D expenditure increased by 12% in 2022, reflecting its commitment to innovation[96]. - The company has established strategic partnerships with two leading technology firms to enhance its service offerings[96]. Employee Management - The company has established a social security system for employees, complying with national laws and regulations regarding social insurance[110]. - The company emphasizes talent development and has implemented targeted training programs for employees[111]. - The company reported a total of 4,785 employees at the end of the reporting period, with 2,549 in production, 258 in sales, and 921 in technical roles[109]. Legal Matters - The company is involved in a lawsuit regarding a ship purchase contract, with a claim amount of CNY 34.25 million, which is currently in the execution process[165]. - The company is also involved in a trust loan dispute with a claim amount of CNY 155 million, which is still in the execution process[166]. - The company has a court ruling requiring a third party to pay CNY 300 million, with partial execution completed amounting to over CNY 38 million[166]. Financial Transactions - The company has a total of 23,000 million yuan in loans from the parent company, with interest rates ranging from 2.75% to 4.35%[175]. - The company has a maximum daily deposit limit of 1,500,000 million yuan with its subsidiary, with a deposit interest rate range of 0.35% to 3.25%[177]. - The company has a total of 301,800 million yuan in loans from its financial subsidiary, with an interest rate of 3.40%[176]. Community Engagement - The company donated a total of 2.13346 million yuan for poverty alleviation and rural revitalization efforts in 2022, including 690,000 yuan specifically for targeted assistance[141]. - The company plans to allocate 200,000 yuan for consumption assistance projects in Qinghai and 150,000 yuan for weak area support in 2023[142]. - The company has established a charitable trust and participated in various donation activities, raising over 27,806 yuan for social causes[142].