Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 20,028 million, representing a 26.8% increase from RMB 15,844 million in 2021[4] - Gross profit for the same period was RMB 6,514 million, with a gross margin of 32.53%, slightly down from 32.93% in 2021[4] - Net profit attributable to shareholders for 2022 was RMB 3,856 million, up 86% from RMB 2,075 million in 2021[4] - Basic earnings per share increased to RMB 1.73 from RMB 0.98 in the previous year, reflecting a growth of 76.5%[4] - Total equity as of December 31, 2022, was RMB 18,493 million, compared to RMB 15,639 million in 2021, indicating a growth of 18%[4] - The company reported a total comprehensive income of RMB 4,170 million for the year, up from RMB 2,447 million in 2021, representing a growth of 70.4%[6] - The company achieved a net profit of approximately RMB 4,176,117,000, compared to RMB 2,681,545,000 in 2021, representing a significant increase[71] Revenue Breakdown - Revenue from high polymer materials amounted to RMB 6,487,010 thousand in 2022, up from RMB 4,825,266 thousand in 2021, indicating a growth of about 34.4%[14] - Revenue from refrigerants was RMB 4,361,050 thousand in 2022, compared to RMB 3,337,155 thousand in 2021, reflecting an increase of approximately 30.7%[14] - Revenue from organic silicon, dichloromethane, PVC, and caustic soda totaled RMB 19,121,197 thousand in 2022, a significant rise from RMB 13,968,045 thousand in 2021, marking an increase of around 36.5%[14] - The revenue from the high polymer materials segment was RMB 6,487,010 thousand, up from RMB 4,825,266 thousand in 2021, indicating a growth of about 34.4%[22] - The refrigerants segment generated revenue of RMB 4,361,050 thousand, an increase from RMB 3,337,155 thousand in the previous year, reflecting a growth of approximately 30.7%[23] - The organic silicon division's external sales grew by 55.78% to RMB 6,648,326,000, representing 33.20% of the group's total external sales[79] Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.60 per share, up from HKD 0.34 in 2021[4] - The proposed final dividend is HKD 0.60 per share for the year ending December 31, 2022, up from HKD 0.34 per share in 2021, representing a 76.5% increase[91] - The company repurchased and canceled 1,051,000 shares during the year, down from 1,499,000 shares in 2021[42] Research and Development - Research and development costs amounted to RMB 1,310,535,000 in 2022, reflecting the company's commitment to innovation[33] - The group achieved a record high in revenue from new products and high-end products, with 142 new product brands launched during the year[59] - R&D expenditure for the year was approximately RMB 1,310,535,000, representing a year-on-year increase of 56.22%, marking seven consecutive years of growth in R&D spending[59] - The company established Shandong Dongyue Research Institute to optimize its technology management system and enhance R&D capabilities, with over 800 R&D personnel, of which more than 40% hold doctoral or master's degrees[58] Market and Operational Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[5] - The company is focused on expanding its market presence and enhancing its product offerings in high polymer materials and refrigerants[14] - The company plans to continue investing in research and development for new products and technologies to drive future growth[14] - The company aims to enhance cost control and improve capital efficiency to maximize profits in response to a challenging market environment[69] - The group plans to enhance R&D efforts to drive innovation in new products and applications[65] Asset and Liability Management - Total equity reached RMB 18,493,477,000, an increase of 18.26% from the previous year[86] - The asset-liability ratio improved to 24.96%, a decrease of 2.64 percentage points from 2021, with financing costs reduced to RMB 15.032 million, down 81.25% year-on-year[62] - The group's cash and bank balances increased to RMB 5,315,994,000, up from RMB 5,102,552,000, due to improved operating cash flow[86] - The group maintained a current ratio of 2.00, slightly down from 2.11 in the previous year, indicating strong liquidity[86] Employee and Compensation - Employee costs for 2022 amounted to RMB 1,880,403,000, up from RMB 1,622,523,000 in 2021, reflecting a growth of 15.9%[40] - The group employed 7,065 employees as of December 31, 2022, compared to 6,824 employees in 2021, reflecting an increase of approximately 3.5%[90] - The group has implemented a competitive compensation policy, including social insurance and retirement benefits, to attract and retain talent[90] Compliance and Governance - The company is committed to maintaining transparency and compliance with international financial reporting standards in its financial disclosures[12] - The group established a new compliance management system to ensure sustainable and healthy development[63] - The audit committee reviewed the group's accounting policies and internal controls as of March 24, 2023[97] - The group has established various committees, including a remuneration committee and a corporate governance committee, to oversee governance and compensation matters[98][100] Future Outlook - The market outlook for 2023 is uncertain, with potential impacts from capacity expansion and downstream market adjustments[64] - The company anticipates 2023 to be a challenging year, testing its resilience and commitment to the strategic development plan[70]
东岳集团(00189) - 2022 - 年度业绩