TINCI(SZ:002709)2024-03-25 16:00Profit Distribution and Financial Performance - The profit distribution plan for 2023 proposes a cash dividend of 3 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[3]. - The company reported a total revenue of ¥15,404,639,485.24 in 2023, a decrease of 30.97% year-on-year[49]. - Net profit attributable to shareholders was ¥1,890,621,314.16, down 66.92% compared to the previous year[49]. - The net cash flow from operating activities decreased by 45.38% to ¥2,274,216,054.11 in 2023 from ¥4,163,859,812.88 in 2022, primarily due to reduced sales collections[73][74]. - The company reported a cash dividend of 3 CNY per 10 shares, totaling 576,504,282 CNY, which represents 100% of the profit distribution amount[179]. - The distributable profit for the company was 3,232,315,018.78 CNY, indicating a positive profit available for distribution to shareholders[179]. Revenue and Growth Targets - The company aims for a revenue guidance of RMB 1.8 billion for 2024, reflecting a growth target of 20%[10]. - The company reported a revenue of RMB 1.5 billion for the year 2023, representing a year-on-year growth of 20%[10]. - User data showed an increase in active customers by 15%, reaching a total of 1.2 million users[11]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by 2024[10]. Research and Development Initiatives - The company has allocated RMB 100 million for R&D in new materials and technologies in 2024, focusing on sustainable solutions[11]. - The company is actively developing products in the fields of sodium-ion batteries, 5V cathodes, lithium-rich manganese, and solid-state batteries[33]. - The company is focusing on the development of lithium battery electrolytes, including high energy density systems and new additives to improve battery performance and safety[108]. - The company is developing a new electrolyte for large cylindrical batteries, aiming to meet the demand for high-performance solutions in the growing market[69]. Market and Industry Trends - The lithium-ion battery materials industry experienced over 20% year-on-year growth in demand in 2023, driven by the booming applications in new energy vehicles and energy storage[23]. - The lithium battery materials market is driven by the growth of the electric vehicle industry and the increasing demand in the energy storage sector, particularly with advancements in solar energy and 5G technology[30]. - The domestic personal care market is expected to expand, driven by increasing disposable income and consumer demand for safety and environmental sustainability[24]. Operational Efficiency and Cost Management - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management and pricing strategies[11]. - The net profit margin for 2023 was reported at 15%, an increase from 12% in 2022, showcasing improved operational efficiency[11]. - Energy procurement accounts for over 30% of the total production costs, indicating a significant impact on overall profitability[32]. - Direct materials cost amounted to ¥8,830,431,278.11, accounting for 77.38% of operating costs, a decrease of 23.93% year-on-year[61]. Corporate Governance and Shareholder Engagement - The company emphasizes transparent information disclosure and has established multiple communication channels with investors, including performance briefings and an interactive platform[127]. - The company held 8 shareholder meetings during the reporting period, ensuring equal rights for all shareholders to exercise their voting rights[130]. - The board of directors consists of 9 members, including 4 independent directors, and held 18 meetings during the reporting period[131]. - The company is committed to enhancing corporate governance and internal control systems to protect shareholders' rights and interests[129]. Strategic Acquisitions and Partnerships - A strategic acquisition of a local competitor is anticipated to enhance market share by 10% in the next fiscal year[10]. - The company is exploring partnerships with international firms to enhance its product offerings and expand its global footprint[10]. - The company has completed the acquisition of Dongguan Tengwei Electronic Materials Technology Co., Ltd., becoming its controlling shareholder, achieving a non-same control merger[199]. Risk Management and Challenges - The company emphasizes the importance of risk awareness regarding future plans and development strategies, indicating potential operational risks and corresponding countermeasures[2]. - The company faces significant risks from raw material price fluctuations, which constitute a large portion of production costs, potentially impacting profitability[116]. - The company is closely monitoring foreign exchange risks as its overseas business expands, utilizing hedging tools to mitigate potential impacts on financial performance[118]. Production Capacity and Investment Projects - The company has a designed capacity of 905,598 tons for lithium-ion battery materials, with a utilization rate between 39%-63%[35]. - The company is currently constructing projects that will add approximately 1,200,000 tons of lithium-ion battery materials capacity, including a 41,000 tons/year project and a 200,000 tons/year lithium battery material project[35]. - The company has established several chemical parks focused on battery materials, enhancing its production capabilities[36]. Employee Management and Development - The total number of employees at the end of the reporting period is 6,857, with 655 in the parent company and 6,202 in major subsidiaries[169]. - The company aims to enhance employee skills through various training programs, including mixed learning projects and mentorship initiatives, to support career development[171]. - The company emphasizes that remuneration is determined based on operational scale, industry standards, and individual performance in achieving annual goals[158].