OXGF(SZ:300082)2023-04-18 16:00Financial Performance - The net profit attributable to shareholders of the company decreased by over 50% compared to the same period last year, with the net profit after deducting non-recurring gains and losses being negative [4]. - The company's operating revenue for 2022 was CNY 5,639,151,805.71, a decrease of 16.05% compared to CNY 6,717,428,323.07 in 2021 [24]. - The net profit attributable to shareholders was CNY 5,595,492.74, down 98.41% from CNY 352,237,905.21 in the previous year [24]. - The cash flow from operating activities decreased by 38.41% to CNY 305,997,532.78 from CNY 496,827,950.63 in 2021 [24]. - The basic earnings per share dropped to CNY 0.01, a decline of 98.08% from CNY 0.52 in 2021 [24]. - The total assets at the end of 2022 were CNY 6,416,452,608.88, a decrease of 5.13% from CNY 6,763,326,789.61 at the end of 2021 [24]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 27,567,613.53 compared to a profit of CNY 337,566,539.11 in 2021, marking a 108.17% decrease [24]. - Total revenue for 2022 was approximately ¥5.64 billion, a decrease of 16.05% compared to ¥6.72 billion in 2021 [73]. - The company achieved a net profit of CNY 55,954,492.74 for the year 2022, with the parent company reporting a net profit of CNY 70,934,820.06 [191]. Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using capital reserves for the fiscal year 2022 [5]. - The company has decided not to distribute cash dividends for the year 2022, citing the need to retain funds for operational stability and industry expansion [191]. - The company distributed a cash dividend of 3.42 RMB per 10 shares, totaling 2,325,935,844.00 RMB, based on a total share capital of 680,098,200 shares [188]. Risk Management - The company is facing risks related to regulatory policies, industry development, and product application areas, with corresponding countermeasures discussed in the report [4]. - The company emphasizes the importance of investors being aware of the risks associated with forward-looking statements regarding future plans [4]. - The company faces risks from raw material price fluctuations, particularly in ethylene and ethylene oxide, and plans to optimize procurement channels to mitigate these risks [128]. - The company is addressing industry capacity risks by accelerating the expansion and upgrading of existing production facilities to focus on differentiated and high-end products [129]. - The company is enhancing its accounts receivable management to mitigate bad debt risks as sales scale increases, aiming to improve the quality of receivables [131]. - The company is implementing a foreign exchange risk management system to mitigate risks associated with currency fluctuations in its international operations [134]. Research and Development - The company has outlined measures to improve profitability in the management discussion and analysis section of the report [4]. - The company is focusing on high-end technology industrialization, particularly in the production of epoxy derivatives and new energy materials [34]. - The company is actively engaged in research and development for new materials and technologies, focusing on lithium battery solutions [106]. - The company plans to enhance its innovation efforts by developing a green low-carbon industrial chain for epoxy derivatives, including the industrialization of carbonate technology and the development of new POD products [124]. - The company aims to increase its investment in research and development, aiming to strengthen the integration of production, education, and research, and enhance the competitiveness of its products [125]. - The company’s R&D expenses increased by 11.43% to 55,753,159.82 CNY in 2022, compared to 50,035,075.62 CNY in 2021 [85]. - The number of R&D personnel increased by 3.57% to 203 in 2022, with a higher proportion of bachelor's degree holders at 58.66% [88]. Market Position and Strategy - The company holds approximately 40% market share in the domestic polycarboxylic acid superplasticizer market, maintaining its leading position [45]. - The expected compound annual growth rate for China's lithium battery market from 2022 to 2030 is projected to be 23.84% [38]. - The company is focusing on developing green low-carbon series products derived from ethylene oxide and carbon dioxide, enhancing its competitive advantage in the market [46]. - The company is positioning itself to become a leading manufacturer of green low-carbon fine chemicals and new materials in China [122]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2024 [154]. - A strategic acquisition of a local competitor is anticipated to enhance the company's production capacity by 30% and reduce operational costs by 15% [154]. Governance and Management - The financial report has been confirmed by the board of directors, supervisors, and senior management to be true, accurate, and complete [4]. - The report indicates that all directors attended the board meeting to review the annual report [4]. - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and coordinated operations [138]. - In 2022, the board of directors completed its sixth election, consisting of 9 members, including 3 independent directors, complying with legal and regulatory requirements [139]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring a complete and independent business structure [143]. - The company has an independent financial accounting department and a separate accounting system, allowing for independent financial decision-making [144]. - The management team remains stable, with no new appointments or resignations noted in the report [147]. Environmental and Safety Compliance - The company has received environmental impact approvals for several projects, including a 200,000 tons/year epoxy-derived green energy new material project [53]. - The company holds a pollution discharge permit valid until June 27, 2023 [54]. - The company has a safety production standardization level II certification valid until December 2023 [56]. - The company maintained a zero major safety and environmental incident record in 2022, demonstrating its commitment to safety management [70]. - The company is committed to improving safety and environmental protection by implementing a three-year action plan for safety production and upgrading production processes to reduce hazardous waste emissions [125]. Sales and Revenue Growth - The total sales volume of new material carbonate series products reached 38,900 tons in 2022, representing a year-on-year growth of 45% [66]. - The sales volume of the new product OXAC-609 in the polyether segment reached 129,600 tons, an increase of 174% year-on-year [66]. - The company’s EOD export sales totaled 26,000 tons, a significant increase of 160% compared to the same period last year, with a 168% growth in water-reducing agents [67]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year 2022, representing a year-over-year growth of 15% [154]. - User data showed an increase in active users, reaching 2 million by the end of 2022, which is a 25% increase compared to the previous year [154]. Investment and Financial Management - The company has ongoing significant non-equity investments, including a project with an expected investment of 6,980 million CNY for a chemical processing facility [107]. - The company has pledged a total of 484.08 million CNY as collateral for bill pledges, indicating a strong reliance on bank financing [102]. - The company’s financial liabilities remained at 0.00 CNY, indicating no outstanding debts at the end of the reporting period [100]. - The company provided a total of 11,093.36 million CNY as guarantee deposits for various banking instruments, including bank acceptance bills and letters of credit [102]. - The company reported a total of 395,814,497.16 CNY in financial assets at the end of the reporting period, with a fair value change of 2,923,907 CNY [100].