OXGF(SZ:300082)2020-04-24 16:00Financial Performance - The company's operating revenue for 2019 was CNY 6,288,423,896.51, a decrease of 15.58% compared to CNY 7,449,022,410.05 in 2018[18]. - The net profit attributable to shareholders of the listed company was CNY 346,686,605.76, an increase of 6.45% from CNY 325,690,535.55 in the previous year[18]. - The net cash flow from operating activities increased by 73.39% to CNY 1,248,772,589.95, compared to CNY 720,208,392.56 in 2018[18]. - The total assets at the end of 2019 were CNY 4,882,429,193.03, a decrease of 12.88% from CNY 5,603,949,062.40 at the end of 2018[18]. - The net assets attributable to shareholders of the listed company increased by 4.53% to CNY 3,222,554,595.11 from CNY 3,082,981,614.07 in 2018[18]. - The basic earnings per share for 2019 was CNY 0.51, up 6.25% from CNY 0.48 in 2018[18]. - The weighted average return on net assets was 11.07%, an increase of 0.11 percentage points from 10.96% in 2018[18]. - The company reported a quarterly revenue of CNY 1,706,289,111.36 in Q4 2019, showing a consistent increase throughout the year[20]. - The net profit after deducting non-recurring gains and losses was CNY 321,494,368.38, reflecting a growth of 7.51% from CNY 299,049,055.92 in 2018[18]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 3.57 per 10 shares, based on a total of 680,310,000 shares[5]. - The cash dividend payout ratio for 2019 was as high as 70%, with a distribution of 3.57 yuan per 10 shares based on a base of 680,310,000[57]. - The proposed cash dividend distribution for 2019 is CNY 3.57 per 10 shares, totaling CNY 242,870,670, which represents 70.05% of the net profit attributable to shareholders[119]. - Over the past three years, the total cash dividends distributed amounted to CNY 564,844,330, exceeding the average net profit of CNY 293,943,792.88 during the same period[119]. Market Position and Product Development - The main product, polyether monomer, holds over 40% market share in domestic applications, particularly in large infrastructure projects like high-speed rail and subways[30]. - The company holds over 40% market share in the domestic epoxy ethane deep processing industry, maintaining its leading position[37]. - The company developed differentiated high-end products, enhancing its market promotion and research capabilities, which contributed to high-quality growth[35]. - The demand for polycarboxylate superplasticizers is increasing due to stricter environmental regulations, driving the transition from naphthalene-based superplasticizers[35]. - In 2019, the sales volume of the main product, polycarboxylate superplasticizer, reached 677,500 tons, an increase of 20% compared to 2018[49]. Research and Development - The company is focused on developing new products and technologies in the field of epoxy ethane, with eight projects achieving significant milestones in 2019[74]. - Research and development expenses increased by 20.24% year-on-year, reaching 35,384,568.66, compared to 29,427,860.83 in 2018[73]. - The number of R&D personnel increased to 175 in 2019, accounting for 12.68% of the total workforce[78]. - The company is committed to continuous development of polycarboxylic acid water-reducing agents, providing enhanced technical services to customers[75]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with COD emissions at 0.437 tons per year and VOCs emissions at 0.0076 tons per year[159]. - The company has implemented various environmental protection facilities, including a rainwater switching system and online monitoring for wastewater discharge[162]. - The company has established various environmental protection facilities across its subsidiaries, including wastewater collection pools and exhaust gas absorption towers, all of which are operating normally[163]. - The company conducts regular environmental monitoring, including wastewater and air emissions, with frequencies ranging from monthly to quarterly across different subsidiaries[168]. Strategic Development - The company plans to enhance its core competitiveness by focusing on its main business and improving production capacity utilization[38]. - The company is committed to expanding international cooperation through the Belt and Road Initiative to explore new profit growth points[110]. - Aok aims to expand its product range and actively develop the industrial chain of epoxy ethane and other derivative chemical new materials[108]. - The company plans to adjust its product structure and reduce costs to improve overall gross margin, while expanding its differentiated product offerings in ethylene and epoxy to increase market share[110]. Financial Management - The company reduced loans by 636 million yuan during the reporting period through centralized fund management, enhancing overall fund utilization efficiency[52]. - The company achieved significant cost reductions in financial expenses, decreasing by 50.54% from 111,229,247.92 to 55,018,573.86, primarily due to reduced interest expenses[73]. - The company has implemented a talent cultivation plan, training 46 individuals in management and promoting several to mid-level management positions[56]. - The company has established a commitment to compensate Aoke Co. for any losses incurred due to violations of the competitive commitments[123]. Shareholder Relations - The company has maintained a stable dividend payout ratio over the past three years, reflecting its commitment to shareholder returns[119]. - The company has committed to avoiding any substantial competition with its subsidiaries and ensuring no harm to the interests of shareholders[122]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[124]. - The company has a total of 22,283 common shareholders at the end of the reporting period, an increase from 21,394 at the beginning of the period[185].