ZHENGDANCHEM(SZ:300641)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,924,373,830.56, representing a 9.38% increase compared to ¥1,759,400,378.36 in 2021[24]. - The net profit attributable to shareholders decreased by 46.56% to ¥55,834,983.73 in 2022 from ¥104,479,063.25 in 2021[24]. - The cash flow from operating activities net amount was ¥103,549,957.13, down 28.31% from ¥144,437,433.38 in the previous year[24]. - The basic earnings per share fell by 47.62% to ¥0.11 in 2022, compared to ¥0.21 in 2021[24]. - Total assets at the end of 2022 were ¥2,219,768,521.22, a decrease of 1.84% from ¥2,261,377,654.99 at the end of 2021[24]. - The company reported a quarterly revenue of ¥406,048,290.60 in Q4 2022, a decline from previous quarters[26]. - The net profit attributable to shareholders in Q4 2022 was a loss of ¥18,117,611.09, contrasting with profits in the earlier quarters[26]. - The company achieved total operating revenue of CNY 1,924,373,830.56 in 2022, representing a year-on-year increase of 9.38%[55]. - The net profit attributable to the parent company was CNY 5,583.50 million, a decrease of 46.56% compared to the previous year[55]. - The operating cost increased by 15.51% to CNY 1,805,538,651.70, primarily due to rising raw material prices and increased sales volume of high-boiling aromatic solvents[55]. Market and Product Development - The company reported a significant focus on the development of new environmentally friendly plasticizers, including TOTM and DOTP, which are key products in their portfolio[18]. - The company has identified new development opportunities in the fine chemical sector, particularly in high-end products and environmentally friendly materials[34]. - The company is focusing on the development of new materials and fine chemicals as part of its strategic growth initiatives[35]. - The company operates in the fine chemicals and environmental new materials industries, with key products including TMA, TOTM, DOTP, VT, and p-xylene[36]. - The demand for TOTM is expected to grow significantly due to increasing environmental awareness and the transition of the cable industry to international standards, with a focus on high-temperature applications[39]. - The market for DOTP is expanding as it offers superior performance compared to traditional DOP, with applications in PVC products that require durability and flexibility[39]. - VT is a high-performance eco-friendly material used in high-end insulation varnishes, with applications in wind power generators and high-voltage motors, indicating a growing market potential[40]. - The company aims to enhance its core competitiveness through innovation, focusing on differentiated, high-end, and specialized products in line with national policies on carbon neutrality[43]. - The demand for polyimides, derived from p-xylene, is expected to grow due to their applications in aerospace, electrical insulation, and other high-tech industries[42]. Risk Management - The company emphasizes the importance of managing risks related to macroeconomic fluctuations and raw material price volatility in its future operations[5]. - The company has a comprehensive risk management strategy in place to address production control risks and other operational challenges[5]. - The price of key raw materials, carbon nine and pseudocumene, significantly increased due to a surge in international crude oil prices, with carbon nine rising by 58.22% and pseudocumene by 11.98% compared to the previous reporting period[46]. - The company faces risks from raw material price volatility, as direct materials constitute a high proportion of the main business costs, with prices linked to crude oil fluctuations[109]. - The company emphasizes internal management and budget control to mitigate risks associated with raw material price changes and inventory management[109]. Research and Development - The company holds 40 authorized patents, including 20 invention patents and 20 utility model patents, reflecting its commitment to technological innovation[49]. - A new patented technology for the continuous production of phthalic anhydride was authorized in March 2022, enhancing yield and reducing emissions[50]. - The company has established a new subsidiary in Suzhou for research and development of new materials, aiming to strengthen its innovation capabilities[50]. - Research and development (R&D) investment amounted to CNY 65,206,561.68 in 2022, which is 3.39% of the operating revenue, up from 3.02% in 2021[75]. - The company is committed to maintaining its R&D capabilities and product quality to become a leading player in the fine chemicals sector[43]. Corporate Governance - The company has established a robust corporate governance structure, complying with relevant laws and regulations, and enhancing information disclosure quality[114]. - The company held one shareholders' meeting during the reporting period, ensuring equal rights for all shareholders and facilitating their participation[115]. - The board of directors consists of 9 members, including 3 independent directors, and has held 6 meetings to ensure compliance and effective decision-making[117]. - The supervisory board, comprising 3 members, has conducted 4 meetings to oversee major transactions and ensure compliance with legal requirements[118]. - The company maintains independence from its controlling shareholders, with a complete and independent business system[121]. Environmental and Safety Management - The company strictly adheres to various environmental protection laws and standards, including the Environmental Protection Law of the People's Republic of China and the Air Pollution Prevention and Control Law[166]. - The company's pollutant discharge permit was successfully renewed on October 11, 2022, valid until October 10, 2027[167]. - The company has implemented pollution control facilities such as wastewater treatment plants and incinerators, which are designed and constructed simultaneously with the main projects[169]. - The company has established an emergency response plan for environmental incidents, which was approved by experts on March 4, 2022[170]. - The company conducted self-monitoring of environmental parameters, utilizing both manual and automatic monitoring techniques[171]. Employee and Shareholder Relations - The company distributed a cash dividend of 0.50 yuan per 10 shares, totaling 24,480,224.40 yuan, which accounted for 100% of the total profit distribution[156]. - The company has established a reasonable and standardized salary distribution system based on job responsibilities and performance[151]. - The employee stock ownership plan involved 49 employees holding a total of 3,474,060 shares, representing 0.71% of the company's total equity[157]. - The total expense recognized for equity-settled share-based payments during the reporting period amounted to RMB 5,483,514.21[159]. - The company has maintained effective internal controls, with no significant deficiencies identified in financial or non-financial reporting[163].