OXGF(SZ:300082)2023-07-11 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 for 2022 was CNY 5,595,492.74, down 98.41% from CNY 352,237,905.21 in 2021[24]. - The cash flow from operating activities in 2022 was CNY 305,997,532.78, a decline of 38.41% from CNY 496,827,950.63 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 basic earnings per share of CNY 0.01 for 2022, down 98.08% from CNY 0.52 in 2021[24]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, with a net loss of CNY 27,567,613.53 in 2022 compared to a profit of CNY 337,566,539.11 in 2021, marking a 108.17% decrease[24]. - The revenue from concrete additives was CNY 4,485,435,630.8, a decrease of 18.93% compared to the same period last year, with a gross margin of 2.03%[76]. - The revenue from other industries reached CNY 1,117,361,970, reflecting a slight decrease of 1.44% year-on-year, with a gross margin of 15.12%[76]. Dividend and Profit Distribution - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from the capital reserve for the year 2022[5]. - The company plans to retain all profits for 2022, with no cash dividends, stock bonuses, or capital reserve transfers, due to significant capital expenditure needs and ongoing industrial transformation[191]. - The total distributable profit for the reporting period was 227,387,669.16 CNY[190]. - As of December 31, 2022, the accumulated undistributed profits of the parent company amounted to CNY 227,387,669.16, while the consolidated undistributed profits totaled CNY 634,792,953.21[191]. Risk Management and Compliance - The company is facing risks related to regulatory policies, industry development, and product application areas, which are detailed in the management discussion and analysis section[4]. - The company has a comprehensive risk management strategy in place to address potential challenges in its future development[4]. - The company has established and improved its internal control and risk management systems to enhance risk control capabilities and ensure sustainable business development[193]. - The internal control self-assessment report indicated no significant defects in financial reporting or non-financial reporting[197]. - The company has committed to maintaining compliance with relevant laws and regulations, ensuring the independence of its operations from controlling shareholders[198]. Market and Industry Trends - The construction chemical industry faced challenges, with real estate development investment declining by 10.0% in 2022, impacting demand for the company's products[35]. - The company is focused on high-end technology industrialization, particularly in the production of epoxy derivatives and new energy materials[34]. - The market for polycarboxylic acid superplasticizers is expected to maintain stable growth, with the industry moving towards a healthier and more sustainable direction[36]. - The domestic pharmaceutical excipients market is projected to grow in line with the rapid increase in the pharmaceutical manufacturing industry's output, which has seen a compound annual growth rate of over 20% in the past decade[40]. - The market for non-ionic surfactants is expected to maintain stable growth, driven by the increasing demand for personal care and cleaning products[44]. Research and Development - The company is committed to research and development, allocating a significant portion of its budget to innovate and improve product quality in the chemical sector[106]. - The company has established partnerships with research institutions to enhance the development of green surfactants[52]. - The company completed significant advancements in various R&D projects, including the development of injection-grade PEG300 and narrow-distribution polyoxyethylene[86][88]. - The company aims to enhance its competitiveness in the polyethylene glycol and pharmaceutical fields through new product developments and market expansion strategies[86][88]. - The company is actively pursuing mergers and acquisitions to enhance its competitive edge in the chemical industry[106]. Production and Capacity - The production capacity utilization for high-performance polycarboxylate superplasticizers is at 63%, with a design capacity of 854,000 tons and ongoing projects to add 300,000 tons[52]. - The company has a total of 10,000 tons of medicinal polyethylene glycol with a capacity utilization rate of 113%[52]. - The company has a production capacity of 300,000 tons of epoxy ethane and 1.6 million tons of ethoxylation, with a nationwide sales service network covering over 80% of its customers[59]. - The company is expanding its production capabilities in Hainan and Wuhan, with ongoing projects to increase capacity for various products[52]. Strategic Initiatives - The company plans to enhance product innovation and focus on the development of new energy battery materials and electronic chemicals, aiming for a strong market position in these emerging products[122]. - The company aims to optimize its production capacity and strengthen strategic partnerships in the epoxy supply chain, with plans to expand its coastal and riverside ethoxylation capacity to one million tons[122]. - The company is committed to increasing R&D investment, particularly in the development of green low-carbon products derived from epoxy and carbon dioxide[123]. - The company plans to enhance its digital transformation and smart systems to improve management efficiency and reduce operational costs[123]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next three years[164]. Governance and Management - 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]. - The board of directors consists 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 business, assets, personnel, and finance, ensuring a complete and independent operational capability[143]. - The company has a total of 955 production personnel, 92 sales personnel, 203 technical personnel, 57 financial personnel, and 197 administrative personnel[185]. - The company has implemented a dynamic salary management mechanism to attract and retain talent, with a focus on performance-based compensation[186].