Financial Performance - The company's operating revenue for 2022 was ¥541,984,420.48, a decrease of 1.80% compared to ¥551,940,509.90 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥64,154,917.71, down 4.55% from ¥67,213,172.95 in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥52,710,941.96, a decline of 16.55% from ¥63,167,072.87 in 2021[22]. - Cash flow from operating activities increased significantly by 120.50% to ¥71,056,614.54 from ¥32,224,961.15 in 2021[22]. - The total assets at the end of 2022 reached ¥784,022,630.65, representing a 58.84% increase from ¥493,586,657.15 at the end of 2021[22]. - The net assets attributable to shareholders increased by 93.62% to ¥668,170,163.62 from ¥345,085,209.37 in 2021[22]. - The basic earnings per share for 2022 was ¥0.9623, down 14.10% from ¥1.1202 in 2021[22]. - The weighted average return on equity decreased to 13.86% in 2022 from 21.58% in 2021, a drop of 7.72%[22]. - The company reported a total of ¥11,443,975.75 in non-recurring gains for 2022, compared to ¥4,046,100.08 in 2021[28]. - The company experienced a quarterly revenue decline throughout 2022, with the fourth quarter revenue at ¥102,621,090.12, down from ¥169,816,482.06 in the first quarter[24]. Dividend Distribution - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares to all shareholders, based on a total of 80,000,000 shares[5]. - The cash dividend represents 100% of the total profit distribution amount, aligning with the company's profit distribution policy[189]. - The total distributable profit for the period is 134,546,675.73 CNY, indicating a healthy profit margin for future distributions[189]. Research and Development - The company has developed 9 invention patents and 14 utility model patents, with 4 invention patents currently under review[78]. - The company is focusing on developing high-performance organic pigments for specific applications, such as inkjet printing and food packaging, to enhance product competitiveness[98]. - The R&D team is also exploring new technologies for producing organic pigments that meet EU environmental standards, enhancing the company's green development strategy[98]. - The company aims to improve the performance of its products by developing specialized organic pigments tailored to customer specifications, such as the low-viscosity red pigment for UV applications[99]. - The focus on R&D and product innovation is expected to drive future growth and market expansion for the company[98]. Market and Product Focus - The company's main business focuses on the research, production, and sales of azo organic pigments and water-based inks, with over 200 customized pigment varieties developed since its establishment[55]. - The primary products include yellow, red, and orange azo organic pigments, which are predominantly used in the ink industry, requiring high transparency, color vividness, and tinting strength[55]. - The organic pigment industry in China has approximately 70 manufacturers, with an annual production of about 220,000 tons, accounting for around 60% of the global total production[64]. - The company is a major domestic supplier of organic pigments, maintaining a strategic partnership with DIC Corporation for over 10 years, serving other notable clients such as Yangzijiang, Hanghua, and Tianjin Toyo[65]. - The downstream industries of ink, coatings, and plastics are experiencing stable growth, which is expected to drive the demand for organic pigments[68]. Governance and Compliance - The company has established a complete governance structure, ensuring independence in assets, personnel, finance, institutions, and business operations[152]. - The financial department operates independently, maintaining a separate accounting system and bank accounts, with no shared accounts with controlling shareholders[155]. - The company has a dedicated human resources department, ensuring independent management of personnel and compensation[154]. - The company has established specialized committees under the board, including an audit committee that held 5 meetings during the reporting period[147]. - The independent directors actively participated in board meetings and contributed to improving corporate governance and protecting minority shareholders' rights[145]. Environmental Compliance - The company has complied with environmental protection regulations and has obtained the necessary pollution discharge permits[200]. - The company reported a total wastewater discharge of 29.6 tons, with no exceedances of discharge standards[200]. - The concentration of COD in wastewater from the southern plant was 82.2 mg/L, below the standard[200]. - The concentration of ammonia nitrogen in wastewater from the northern plant was 1.37 mg/L, also compliant with standards[200]. - The company has implemented measures to manage pollutant emissions in accordance with environmental assessments[200]. Operational Efficiency - The company has implemented a production model based on its own manufacturing, with a monthly production plan aligned with sales forecasts and inventory levels[59]. - The company utilizes a PLC online control system for automated production processes, enhancing precision in material handling and reaction conditions[59]. - The company is integrating traditional production processes with new technologies, aiming for full automation in production processes[83]. - The company has established a stable supplier management system, with raw material procurement primarily from Shandong and Jiangsu-Zhejiang-Shanghai regions, influenced by market price fluctuations[58]. Financial Management - The company raised a total of RMB 299 million through the issuance of 20 million shares at a price of RMB 14.95 per share, with a net amount of RMB 258.32 million after deducting issuance costs[116]. - The company has committed to an annual production project of 8,000 tons of organic pigments, with a total investment of RMB 201.94 million, and the project is expected to be completed by August 2024[118]. - The company has not engaged in any significant equity or derivative investments during the reporting period[111][112]. - The company has not capitalized any R&D expenditures, maintaining a 0.00% capitalization rate for the past three years[101]. Employee Management - The company had a total of 378 employees at the end of the reporting period, with 265 in production, 11 in sales, 65 in technology, 9 in finance, and 28 in administration[183]. - The company has a competitive salary policy, providing benefits such as meal allowances, accommodation, holiday benefits, and annual health checks[184]. - The educational background of employees includes 280 with high school or below, 72 with associate degrees, 24 with bachelor's degrees, and 2 with master's degrees[183]. - The company has established a comprehensive training system to enhance employee skills and ensure compliance with operational standards[186].
联合化学(301209) - 2022 Q4 - 年度财报