SHANSHUI TECH.(SZ:301190)2023-04-24 16:00Financial Performance - The company's operating revenue for 2022 was CNY 400,436,448.48, a decrease of 27.50% compared to CNY 552,342,767.81 in 2021[27]. - The net profit attributable to shareholders for 2022 was CNY 100,420,340.90, down 29.47% from CNY 142,372,110.77 in the previous year[27]. - The net profit after deducting non-recurring gains and losses was CNY 81,243,155.71, reflecting a decline of 40.17% from CNY 135,779,284.93 in 2021[27]. - The basic earnings per share for 2022 was CNY 0.4679, a decrease of 47.09% compared to CNY 0.8844 in 2021[27]. - The total assets at the end of 2022 amounted to CNY 2,247,441,733.46, representing a slight increase of 1.21% from CNY 2,220,602,138.72 at the end of 2021[27]. - The net assets attributable to shareholders increased by 3.51% to CNY 2,043,908,092.71 at the end of 2022, up from CNY 1,974,625,898.93 in 2021[27]. - The net cash flow from operating activities for 2022 was CNY 94,708,909.07, a decrease of 6.45% from CNY 101,237,512.23 in 2021[27]. - The weighted average return on net assets for 2022 was 4.96%, down 22.47% from 27.43% in 2021[27]. - The company reported a quarterly revenue of CNY 60,372,695.75 in Q4 2022, a significant decline compared to previous quarters[29]. - The net profit attributable to shareholders in Q4 2022 was CNY 4,645,346.92, indicating a sharp drop from earlier quarters[29]. - The company reported a revenue of 400.44 million yuan, a decrease of 27.5% compared to 552.34 million yuan in the previous year[58]. - Net profit attributable to shareholders was 100.42 million yuan, down 29.47% from 142.37 million yuan year-on-year[58]. Market and Product Development - The company is focused on expanding its market presence and enhancing its product offerings through continuous innovation[9]. - The company expects improved sales of its core products, 6-nitro and 5-nitro intermediates, driven by recovery in downstream demand[41]. - The agricultural intermediate industry is projected to see a market expansion, with plans to cultivate 10 enterprises with a production value exceeding CNY 5 billion by 2025[40]. - The company is actively pursuing new product development and technological advancements to maintain competitive advantages in the chemical industry[46]. - The company plans to focus on the development of environmentally friendly dyes, pesticides, and pharmaceutical intermediates, aiming to become a leading provider in China[99]. - The company is expanding its production capacity for chlorinated pyridine series products, which will significantly enhance output after the completion of fundraising projects[46]. - The company has established a product reserve strategy, with ongoing projects for 6-nitro compounds and chlorinated pyridine products[57]. - The company is investing in a project to increase the annual production capacity of 2-chloropyridine to 25,000 tons and 2,3-dichloropyridine to 8,000 tons[46]. - The company has developed proprietary technologies that enhance production efficiency and reduce waste, contributing to lower manufacturing costs[46]. Environmental Protection and Compliance - Environmental protection remains a priority, with ongoing investments in compliance with national regulations to mitigate pollution risks[6]. - The company emphasizes the importance of environmental protection and has implemented measures to reduce pollutant emissions, ensuring compliance with national regulations[109]. - The company has established a dedicated safety and environmental protection department, ensuring compliance with national laws and regulations[174]. - The company has implemented measures to manage and treat hazardous waste, including a dedicated hazardous waste storage facility[185]. - The company’s wastewater treatment facility is located in the northwest corner of the industrial park, ensuring compliance with environmental standards[184]. - The company has established emergency response plans for environmental incidents, with the latest revisions submitted to the local environmental bureau[188]. - The company has implemented measures to reduce carbon emissions, including energy-saving training and modifications to reduce resource consumption[200]. - The company invested a total of 17.8965 million yuan in environmental protection during the reporting period[199]. - The company conducts quarterly noise monitoring at the factory boundary[197]. Safety Management - The company has not experienced any major safety production accidents since its establishment, highlighting its commitment to safety management[7]. - The company has a comprehensive safety production management system in place to mitigate risks associated with its operations[110]. - The company has received various safety and operational licenses, ensuring compliance with regulatory requirements and operational safety[47]. - The company has established a comprehensive training system for employees, including safety education and vocational qualification training[164]. Research and Development - The company has a total of 49 R&D personnel, with 11 invention patents and 27 utility model patents, indicating a strong focus on innovation and technology development[50]. - Research and development expenses increased by 10% to 19.80 million yuan, reflecting a commitment to innovation[59]. - The company plans to optimize the synthesis process in R&D projects, aiming to reduce reagent usage by approximately 15% and reaction time by 2 hours[73]. - The company will continue to strengthen its research and development capabilities by collaborating with universities and research institutions[103]. Governance and Management - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, institutions, and finances[125]. - The company has established a comprehensive internal control system to ensure effective governance and risk management[122]. - The company has a dedicated financial department with an independent accounting system and financial management practices[129]. - The board of directors consists of 9 members, with various specialized committees established to enhance decision-making processes[119]. - The company has a governance structure that includes independent directors and supervisors, ensuring compliance with regulatory requirements[135]. - The company’s management team includes individuals with varying tenures, with some members serving until 2025[133]. - The company has experienced turnover in its management team, with several key positions changing hands in 2022[135]. Shareholder Engagement - The company held four temporary shareholder meetings in 2022, with investor participation rates of 58.97%, 59.99%, 59.98%, and 58.94% respectively[130][131]. - The cash dividend distribution plan is subject to approval at the annual general meeting, with separate voting for minority investors[166]. - The company reported a cash dividend of 32,195,475.00 CNY, which is 100% of the total distributable profit of 391,089,304.58 CNY[166]. Strategic Outlook - The company has set a future outlook with a revenue target of 1.5 billion yuan for the next fiscal year, indicating a projected growth rate of 25%[143]. - The company is expanding its market presence, targeting new regions in Southeast Asia, with plans to establish two new distribution centers by the end of the year[140]. - A strategic acquisition of a smaller competitor is in progress, which is anticipated to enhance market share by 10% and diversify the product portfolio[141]. - The management team has outlined a new strategy focusing on sustainability, aiming to reduce carbon emissions by 40% over the next five years[144].