RIKE CHEM(SZ:300214)2023-04-20 16:00Financial Performance - The company's operating revenue for 2022 was ¥2,759,520,253.21, a decrease of 0.48% compared to ¥2,772,847,325.93 in 2021[20]. - Net profit attributable to shareholders for 2022 was ¥196,498,216.73, representing a 3.33% increase from ¥190,169,628.70 in 2021[20]. - The net profit after deducting non-recurring gains and losses was ¥198,598,822.10, up 6.31% from ¥186,811,363.32 in 2021[20]. - The net cash flow from operating activities increased by 112.87% to ¥227,690,681.31 from ¥106,960,548.21 in 2021[20]. - Total assets at the end of 2022 were ¥3,046,987,882.64, a 5.36% increase from ¥2,892,064,345.84 at the end of 2021[20]. - The net assets attributable to shareholders increased by 6.99% to ¥2,526,029,162.52 from ¥2,360,999,581.38 at the end of 2021[20]. - The company reported a basic earnings per share of ¥0.42, down 10.64% from ¥0.47 in 2021[20]. - The weighted average return on equity was 8.04%, a decrease of 0.88% from 8.92% in 2021[20]. - The company achieved a total revenue of ¥2,759,520,253.21, a decrease of 0.48% compared to the previous year, with overall sales volume remaining stable[39]. - The gross profit margin of the main products decreased by 0.63 percentage points compared to the previous year[52]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.6 RMB per 10 shares based on a total of 466,802,614 shares[3]. - The company distributed cash dividends of RMB 28,008,156.84, with a dividend of RMB 0.60 per 10 shares based on a total share base of 466,802,614 shares[170]. - The cash dividend distribution accounted for 100% of the total profit distribution amount, adhering to the company's policy of a minimum 40% cash dividend in mature stages[170]. Research and Development - The company is focused on enhancing its core capabilities in providing comprehensive solutions from raw material selection to product development[14]. - The company is investing in R&D for plastic and rubber processing equipment, raw materials, and formulations to meet evolving consumer demands[32]. - Research and development expenses increased by 62.66% to ¥39,840,360.15, reflecting the company's commitment to product innovation[67]. - The company has 7 invention patents and 4 utility model patents for ACR products, and 14 invention patents and 15 utility model patents for ACM products, indicating strong R&D capabilities[44]. - The company has applied for multiple patents, including one for a high-performance recyclable crosslinking agent, indicating a strong commitment to innovation[69]. Market Position and Products - The company is positioned in the plastic and rubber modifier industry, with significant growth potential in high-end green building materials due to increasing safety and environmental standards[31]. - The company's main products include ACR and ACM, which are used as processing aids and impact modifiers in PVC applications[14]. - ACR series products generated revenue of ¥1,384,373,773.07, reflecting a 7.29% increase year-on-year, driven by strong demand in the building decoration materials sector[39]. - ACM series products saw a revenue decline of 8.15% to ¥1,269,434,329.59, with sales volume decreasing by 6.17% due to downstream demand fluctuations[39]. - ACR and ACM series products accounted for 50.17% and 46% of the company's total revenue, respectively[34]. Risks and Challenges - The company acknowledges potential risks including macroeconomic uncertainties and increased competition affecting product gross margins[3]. - The company faces pressures from macroeconomic downturns and geopolitical tensions, necessitating enhancements in overall industry competitiveness[31]. - The company is exposed to raw material price volatility, which could impact production costs and gross margins[118]. - Increasing accounts receivable may lead to liquidity risks, prompting the company to enhance customer selection and collection efforts[119]. - Environmental risks are present due to the nature of the chemical industry, necessitating ongoing investment in compliance with rising standards[121]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation from its controlling shareholder[126]. - The board of directors consists of 5 members, including 2 independent directors, meeting the legal requirements[129]. - The supervisory board has 3 members, including 1 employee representative, complying with legal regulations[130]. - The company has established a comprehensive information disclosure management system to ensure accurate and timely information for investors[132]. - The company emphasizes the importance of timely and efficient decision-making to protect the rights of shareholders[160]. Employee Management - The total number of employees at the end of the reporting period was 1,092, with 481 in the parent company and 611 in major subsidiaries[164]. - The company has a total of 807 production staff, 54 sales personnel, 143 technical staff, 18 financial staff, and 70 administrative staff[164]. - The company conducted internal training programs to enhance employee skills and overall performance[167]. - The company has a total of 1 employee with a doctoral degree, 1 with a master's degree, and 375 with undergraduate or vocational education[165]. Investment and Projects - The company is actively constructing a 330,000-ton high polymer new material project, with the first phase (45,000 tons/year PMMA) currently under construction[52]. - The company is also advancing a 200,000-ton ACM device and a 200,000-ton rubber sheet project, both currently under construction[52]. - The company has committed to a project with a total investment of 28,312 million CNY, with an expected completion date extended to December 2023 due to regulatory delays[88]. - The company has established a new subsidiary, Shandong Huinengda New Materials Technology Co., Ltd., to diversify its operations[95]. Financial Management - The company has a registered capital of 1,088,751,626.71 RMB, reflecting substantial financial backing for its operations[107]. - The company has a capital reserve balance of RMB 830,514,729.58, reflecting its financial stability[170]. - The company has not utilized any of the raised funds for temporary liquidity support, instead opting to invest in bank wealth management products[90]. - The current auditor is Dahua Certified Public Accountants with an audit fee of 430,000 RMB, and they have been providing services for 2 consecutive years[195]. Social Responsibility and Compliance - The company is committed to fulfilling its social responsibilities while promoting development alongside shareholders, employees, and the community[180]. - The company actively participates in social welfare initiatives and collaborates with local governments and organizations[186]. - The company has established a complete environmental management system to continuously improve resource utilization efficiency and respond to environmental risks[185]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[180].