Nisco(SH:600282)2024-03-08 16:00Financial Performance - The company's operating revenue for 2023 was CNY 72.54 billion, an increase of 2.65% compared to CNY 70.67 billion in 2022[22]. - The net profit attributable to shareholders for 2023 was CNY 2.13 billion, a decrease of 1.67% from CNY 2.16 billion in 2022[22]. - The net cash flow from operating activities decreased by 28.71% to CNY 2.68 billion in 2023 from CNY 3.75 billion in 2022[22]. - The basic earnings per share for 2023 was CNY 0.3447, down 1.84% from CNY 0.3512 in 2022[23]. - The total assets as of the end of 2023 were CNY 73.18 billion, a decrease of 2.01% from CNY 74.67 billion at the end of 2022[22]. - The company's operating costs rose to approximately ¥64.85 billion, reflecting a 2.83% increase from ¥63.07 billion year-on-year[79]. - The net profit for the reporting period was approximately ¥2.24 billion, a decrease of 3.40% compared to the previous period[81]. - The total operating revenue reached approximately ¥72.36 billion, reflecting a year-on-year increase of 2.94%[84]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.5 per 10 shares to all shareholders, pending approval at the 2023 annual general meeting[7]. - The company has established a cash dividend policy, committing to distribute no less than 30% of the annual net profit attributable to shareholders as cash dividends for the years 2024-2026[193]. - For the fiscal year 2022, the company approved a cash dividend of 0.25 yuan per share, totaling approximately 1.54 billion yuan distributed to shareholders[194]. - The total cash dividend amount (including tax) is CNY 1,541,272,752.75, which accounts for 72.52% of the net profit attributable to ordinary shareholders of the listed company in the consolidated financial statements[198]. Audit and Compliance - The company reported a standard unqualified audit opinion from Tianheng Accounting Firm for the financial statements[6]. - The board of directors has confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The financial report includes signatures from the legal representative and accounting personnel, ensuring its authenticity[13]. - The company has not violated decision-making procedures for external guarantees[9]. - There are no non-operating fund occupations by controlling shareholders or related parties[9]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section[10]. - The report emphasizes the importance of understanding the differences between plans, forecasts, and commitments, highlighting investment risks[8]. - The company has identified various risks associated with commodity futures hedging, including basis risk, policy risk, and operational risk[125]. - The company has implemented risk control measures, including establishing a digital risk management system and enhancing the professional knowledge of hedging personnel[125]. Production and Sales - The company's steel production increased to 10.3987 million tons, a year-on-year rise of 5.63%[31]. - Advanced steel material sales amounted to 2.5879 million tons, a year-on-year increase of 25.15%, accounting for 25.06% of total steel product sales[29]. - The company recorded a non-operating income of CNY 211.32 million from government subsidies in 2023, indicating support from local policies[26]. - The company achieved a reduction in M-end process costs by 1.919 billion RMB year-on-year[31]. - The company exported 1.25 million tons of steel, setting a historical record, with a 44% year-on-year increase in high-end steel supply for international projects[40]. Research and Development - The company invests over 3% of its revenue in R&D annually, developing advanced steel materials for various industries[55]. - The company has maintained R&D investment at over 3% for several consecutive years, focusing on technological innovation to drive industry development[72]. - The company has developed 231 products and technological achievements, with 151 reaching international leading or advanced levels[74]. - The R&D department has made advancements in eco-friendly steel production techniques, aiming to reduce carbon emissions by 15%[165]. Environmental and Sustainability Initiatives - The company aims to achieve carbon peak by 2030 and carbon neutrality by 2050, with a low-carbon energy strategy committee established to enhance energy efficiency[43]. - The company is committed to innovation in the green low-carbon sector, focusing on wastewater treatment and solid waste management services[65]. - The company is addressing environmental risks by advancing its ultra-low emissions transformation and focusing on clean production and low-carbon development[151]. Governance and Management - The company has established an independent accounting system and financial management framework, ensuring no interference from the controlling shareholder in financial decisions[155]. - The company has committed to avoiding competition with its controlling shareholder, with relevant commitments documented in the report[156]. - The company has established specialized committees under the board, including audit, nomination, remuneration, and strategic committees[180]. - The company has a diverse board with a mix of independent and non-independent directors, ensuring a balanced governance structure[161]. Market Expansion and Strategic Initiatives - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in sales in that region over the next year[162]. - The company plans to enhance its global competitiveness by focusing on advanced materials and smart manufacturing[140]. - The company is actively pursuing a three-year action plan for energy efficiency, targeting green energy and breaking down barriers to green development[146]. Subsidiary Performance - The company’s subsidiary, Nanjing Jinhan Environmental Technology Co., Ltd., reported a net profit of RMB 20.39 million for the year 2023[133]. - The company’s subsidiary, Jin An Mining, reported a net profit of RMB 314.04 million for the year 2023[133]. - The company’s subsidiary, Nanjing Jinkeng Environmental Technology Co., Ltd., reported a net loss of RMB 1.31 million for the year 2023[133]. - The company’s subsidiary, Nansteel Development, reported a net profit of RMB 768.38 million for the year 2023[133].