ABACHEM(SZ:300261)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥2,000,975,899.68, a decrease of 3.42% compared to ¥2,071,740,062.67 in 2021[22]. - Net profit attributable to shareholders increased by 11.60% to ¥202,948,039.69 in 2022 from ¥181,849,264.51 in 2021[22]. - The net profit after deducting non-recurring gains and losses rose by 54.30% to ¥225,892,277.97 in 2022 compared to ¥146,401,786.78 in 2021[22]. - Total assets at the end of 2022 were ¥4,008,418,399.76, reflecting a 5.32% increase from ¥3,806,025,067.11 at the end of 2021[22]. - The company's net assets attributable to shareholders increased by 9.80% to ¥2,387,566,980.33 at the end of 2022 from ¥2,174,390,029.16 at the end of 2021[22]. - The total revenue for the year 2022 was CNY 2,000.98 million, a decrease of 3.42% compared to the previous year[46]. - The net profit attributable to shareholders was CNY 202.95 million, an increase of 11.60% year-on-year[46]. - Revenue from the chemical industry was approximately $1.84 billion, accounting for 91.83% of total revenue, down 4.82% year-over-year[50]. - Revenue from the environmental protection industry increased by 15.75% to approximately $163.40 million, representing 8.17% of total revenue[50]. - Sales of pesticide intermediates decreased by 15.72% to approximately $1.20 billion, accounting for 60.06% of total revenue[50]. - Sales of pharmaceutical intermediates increased by 30.07% to approximately $441.62 million, representing 22.07% of total revenue[50]. Cash Flow and Investments - The net cash flow from operating activities significantly decreased by 80.82% to ¥81,067,227.82 in 2022 from ¥422,704,008.77 in 2021[22]. - The company reported a significant decline in cash flow from operations in Q1 2022, with a net cash flow of -¥108,978,197.34[24]. - Operating cash inflow decreased by 20.07% to ¥1,744,731,071.50, primarily due to a 20.73% drop in cash received from sales[67]. - The net increase in cash and cash equivalents was a decrease of 477.53%, resulting in a net decrease of ¥134,888,263.18[68]. - The total investment amount for the reporting period was 17 million yuan, representing a 70% increase compared to 10 million yuan in the same period last year[77]. - The company made significant equity investments, including a 100% stake in Lanzhou Yaben Chemical Co., with an investment amount of 7,000,000 CNY[78]. - The total amount of foreign exchange contracts at the end of the reporting period was 35,774.26 million CNY, representing 0.85% of the company's net assets[82]. - The company has established a derivative investment management system to mitigate risks associated with foreign exchange fluctuations[83]. Research and Development - The company has invested significantly in R&D, leading to optimized processes and a strong competitive position in the market[40]. - The company’s R&D investment ratio is among the top in the industry, focusing on innovative pesticides and pharmaceuticals[44]. - The company is focusing on enhancing its R&D capabilities and expanding its market presence through strategic project adjustments[94]. - Continuous investment in R&D is planned, with a focus on synthetic biology and green chemistry to enhance the company's competitive edge[111]. - The company is actively expanding its product offerings in the fields of anti-tumor and anti-pathogen areas through strategic R&D initiatives[37]. Market Position and Strategy - The company is positioned to benefit from the ongoing consolidation in the pesticide industry, with a focus on environmentally friendly products[33]. - The company has a market share of 50-60% for its bromoxynil products, which are recognized as high-efficiency and environmentally friendly pesticides[40]. - The company aims to expand its market reach through new product registrations and maintaining compliance with regulatory standards[42]. - The company plans to delay the new production line project in Nantong to July 2023, and the enzyme preparation and green research institute projects to May 2023[94]. - The company plans to use the remaining funds from terminated projects for the enzyme preparation and green research institute project[97]. Environmental Compliance - The company adheres to various environmental protection laws and regulations, ensuring compliance in its production processes[161]. - The company has obtained pollution discharge permits valid until December 2025 and November 2027 for its subsidiaries[162]. - The company has implemented comprehensive waste treatment facilities to minimize environmental impact[161]. - The company reported a total wastewater discharge of 15.847 tons per year, with a COD concentration of 70 mg/L, exceeding the regulatory limit[163]. - The company has established a monitoring system for wastewater discharge to ensure it remains within regulatory limits[165]. Corporate Governance - The company has a governance structure in place with a clear distinction of roles among directors and management[128]. - The company appointed a new deputy general manager and board secretary, Wang Yichuan, on December 19, 2022[129]. - The company has a structured approach to board member appointments and departures, ensuring continuity in governance[129]. - The company reported a total shareholding of 271.0 million shares, with no changes in the number of shares held by directors and supervisors during the reporting period[128]. - The company has not reported any changes in the voting rights of preferred shareholders[127]. Employee Management - The total number of employees at the end of the reporting period was 1,038, with 191 in the parent company and 847 in major subsidiaries[146]. - The employee training program includes both internal and external training to enhance professional skills and management levels, aligning with the company's sustainable development needs[149]. - The company has a performance-oriented compensation management system to motivate employees and attract talent, considering industry salary levels and overall company performance[148]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 5.5465 million yuan[136]. Risk Management - The company faces risks from macroeconomic fluctuations and stringent environmental regulations, which may impact financial performance[114]. - To mitigate risks, the company will enhance its operational resilience and invest in environmental compliance measures[115]. - The company faces potential negative impacts on gross margin and profitability due to fluctuations in raw material prices, which are influenced by market supply and demand[116]. - The company is enhancing its cost management system and exploring new procurement models to ensure supply chain stability and optimize procurement costs[116]. Legal and Regulatory Matters - The company is involved in a legal case with a claim amount of 4.4865 million yuan related to securities false statements, which is expected to have no significant impact on its performance[198]. - The company faced disciplinary actions for violations of the Shenzhen Stock Exchange listing rules, resulting in public reprimands for multiple executives[200]. - The violations included breaches of specific articles in the revised listing rules effective December 2020[200].