Financial Performance - The company's operating revenue for 2023 was ¥506,230,805.01, a decrease of 1.97% compared to ¥516,428,374.89 in 2022[20]. - Net profit attributable to shareholders for 2023 was ¥115,398,154.14, an increase of 1.69% from ¥113,475,270.69 in 2022[20]. - The cash flow from operating activities decreased by 28.86% to ¥123,509,815.59 in 2023 from ¥173,609,269.55 in 2022[20]. - Total assets at the end of 2023 were ¥1,232,933,101.29, reflecting a growth of 7.28% from ¥1,149,224,868.22 at the end of 2022[20]. - The basic earnings per share for 2023 was ¥1.17, up 1.74% from ¥1.15 in 2022[20]. - The company reported a total of ¥14,900,263.45 in non-recurring gains for 2023, compared to ¥12,268,047.61 in 2022[26]. - The weighted average return on equity for 2023 was 10.09%, down from 10.49% in 2022[20]. - The company achieved quarterly revenues of ¥142,110,343.51 in Q4 2023, marking a significant contribution to the annual total[22]. - The net profit attributable to shareholders in Q4 2023 was ¥31,826,019.81, indicating a strong performance in the last quarter[22]. - In 2023, the company achieved total revenue of CNY 506.23 million, a decrease of 1.97% year-on-year[61]. - The total profit amounted to CNY 134 million, reflecting a year-on-year increase of 2.47%[61]. - The net profit attributable to ordinary shareholders was CNY 115 million, up 1.69% compared to the previous year[61]. Dividend Policy - The company plans to distribute a cash dividend of 6 yuan (including tax) for every 10 shares based on a total of 99,053,333 shares[3]. - The company has not proposed any stock bonus or capital increase for shareholders in the current profit distribution plan[3]. - The net profit attributable to shareholders for the year 2023 is RMB 115,398,154.14, with total distributable profits amounting to RMB 339,452,769.66[164]. - The cash dividend policy has not been adjusted or changed during the reporting period, ensuring compliance with company regulations[163]. Risk Management - The report emphasizes the importance of risk awareness regarding forward-looking statements and the potential risks in the company's future operations[3]. - The company has detailed its future development outlook and risk management strategies in the management discussion section[3]. - The company has implemented a risk assessment system to identify and manage internal and external risks effectively[173]. - The company recognizes the risk of macroeconomic fluctuations affecting demand in key sectors such as electric tools, automotive parts, and home appliances[109]. - The company faces raw material price volatility risks, particularly from petroleum-derived products, which significantly impact production costs[110]. Research and Development - The company focuses on high-performance modified nylon, polyester, and engineering polyolefins, which are widely used in electric tools, automotive parts, and household appliances[36]. - The company has continuously invested in R&D to meet the growing demands of downstream customers, resulting in an expanding product range and production scale[36]. - R&D expenses were CNY 25.47 million, showing a slight increase, with a focus on enhancing technical advantages and optimizing product structure[62]. - The company has a total of 29 effective patents, including 27 inventions and 2 utility models, with 21 patents currently under review[62]. - The company aims to strengthen its R&D capabilities to better serve world-class industrial clients and enhance its competitive edge[103]. - The company plans to enhance its research and development capabilities to maintain its technological edge in the high-end modified plastics market[112]. Market and Industry Outlook - The modified plastics industry in China has seen an increase in the modification rate from 16.3% in 2011 to 23.7% in 2021, indicating significant growth potential compared to the global rate of nearly 50%[30]. - The high-end modified materials market is dominated by foreign multinational corporations, creating a significant demand for domestic import substitution[32]. - The modified plastics industry is experiencing rapid growth due to technological advancements and increasing consumer demand for high-performance materials[31]. - The global modified plastics market grew from $295.5 billion in 2015 to $409.7 billion in 2022, with a CAGR of 4.8%[101]. - The company aims to achieve a sales revenue target of 700 million yuan in 2024[104]. Governance and Compliance - The financial report has been confirmed as true, accurate, and complete by the company's management team[3]. - All board members attended the meeting to review the annual report, ensuring comprehensive oversight[3]. - The company has established a strong governance structure, complying with relevant laws and regulations to ensure effective management and control[119]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with regulatory requirements and effective oversight[120]. - The company emphasizes transparency in information disclosure, ensuring timely and fair access to information for all shareholders[124]. - The company has established a supervisory board consisting of 3 supervisors, including 2 employee representatives, ensuring compliance with legal requirements[122]. Environmental and Social Responsibility - The report includes a section on environmental and social responsibility, highlighting the company's commitment to sustainable practices[6]. - The company actively fulfills its social responsibilities, focusing on safety, environmental protection, and employee welfare[172]. - The company has implemented measures to reduce carbon emissions, including increasing the use of clean energy and improving energy efficiency[191]. - The company has significantly increased the proportion of renewable energy in its total energy consumption by enhancing solar power generation[197]. - The company made a targeted donation of 30,000 yuan to the "Zhangjiagang Jin Feng Charity Association" for the "Green Sandbar Carbon Road Future Project" in Xinghuo Village[199]. - In 2023, the company achieved zero accidents in safety, environmental protection, health, and work-related injuries, receiving awards from Zhangjiagang City and Jin Feng Town[199]. Supply Chain and Procurement - The company maintains a strict supplier management system, evaluating suppliers annually based on product quality and delivery accuracy, with a performance score of 80 and above classified as first-tier suppliers[41]. - The company has established a long-term stable cooperation with suppliers, ensuring a reliable supply chain for production[41]. - The company’s procurement strategy includes advance stocking to mitigate risks associated with raw material supply shortages or price volatility[40]. - The company has a complete and independent procurement, production, and sales system, allowing for direct market operations[133]. Employee Management - The total number of employees at the end of the reporting period was 201, with 189 in the parent company and 12 in major subsidiaries[159]. - The company adheres to a competitive salary policy, providing various insurances and benefits to employees, including annual health check-ups and paid leave[160]. - The company emphasizes employee training and development, offering both internal and external training programs to enhance skills and capabilities[161]. - The educational background of employees showed 3 with doctoral degrees, 17 with master's degrees, 51 with bachelor's degrees, 36 with associate degrees, 61 with high school diplomas, and 33 with junior high school or below[159]. Internal Control and Audit - The company has established a comprehensive internal control system covering all major units and high-risk areas, ensuring effective governance and risk management[166]. - The internal audit department is responsible for supervising the implementation of internal control systems and financial conditions[171]. - The company has maintained effective internal controls over financial reporting, with no significant deficiencies reported in the 2023 audit[188]. - The company has achieved 100% coverage of its subsidiaries in internal control evaluations, ensuring comprehensive oversight[187].
江苏博云(301003) - 2023 Q4 - 年度财报