泰和科技(300801) - 2023 Q4 - 年度财报

Financial Performance - The company achieved a net profit of 142 million RMB in the reporting period, a decrease of 64.33% compared to the same period last year[3]. - The company's operating revenue for 2023 was ¥2,205,564,670.67, a decrease of 19.12% compared to ¥2,727,016,064.17 in 2022[20]. - The net profit attributable to shareholders for 2023 was ¥141,843,161.48, down 64.33% from ¥397,628,099.01 in 2022[20]. - The net profit after deducting non-recurring gains and losses was ¥115,877,493.84, a decline of 70.37% from ¥391,104,439.48 in 2022[20]. - The net cash flow from operating activities was ¥407,019,810.55, a decrease of 14.63% compared to ¥476,754,998.25 in 2022[20]. - The total assets at the end of 2023 were ¥3,117,749,142.07, an increase of 7.22% from ¥2,907,785,475.07 at the end of 2022[20]. - The company's basic earnings per share for 2023 were ¥0.6686, down 63.62% from ¥1.8376 in 2022[20]. - The weighted average return on equity for 2023 was 6.04%, a decrease of 11.60% from 17.64% in 2022[20]. - The company reported a total of ¥25,965,667.64 in non-recurring gains and losses for 2023, compared to ¥6,523,659.53 in 2022[26]. Dividend Distribution - The company plans to distribute a cash dividend of 1.67 RMB per 10 shares (including tax) to shareholders, with no bonus shares issued[6]. - The total share capital for the dividend distribution is based on 208,993,300 shares after deducting shares held in the repurchase account[6]. - The total distributable profit available to shareholders was RMB 1,117,826,967.18[175]. - The company distributed cash dividends of RMB 1.67 per 10 shares, totaling RMB 34,901,881.10, which represents 100% of the distributable profit[175]. - The company did not issue any bonus shares or increase capital from the capital reserve in this profit distribution plan[175]. Production and Sales - The sales volume of water treatment agents reached 277,700 tons, representing a year-on-year growth of 5.67%[3]. - The company achieved a total sales volume of 715,600 tons, with water treatment agents sales increasing by 5.67% year-on-year and total sales up by 28.41% compared to the previous year[57]. - The company’s water treatment agent production capacity reached 546,300 tons per year as of December 31, 2023[43]. - Revenue from the water treatment industry was ¥1,917,768,497.75, accounting for 86.95% of total revenue, down 22.89% year-on-year[63]. - Chlor-alkali industry revenue increased by 19.42% to ¥282,427,123.92, representing 12.81% of total revenue[63]. Research and Development - The company has maintained a stable core technical team with extensive experience in research and development, process design, and production technology management[37]. - The company has developed several new technologies, including a continuous production system that significantly reduces energy consumption per unit of capacity[37]. - The company has invested in advanced laboratory equipment, including multiple types of mass spectrometers and chromatographs, to support its R&D efforts[46]. - The company is focused on continuous innovation and has established a high-level R&D team, enhancing its technological capabilities[44]. - The company has initiated multiple R&D projects in new fields such as new energy materials, biochemistry, and electronic chemicals, with a focus on sustainable development[61]. Market and Competitive Position - The company maintained a strong position in the water treatment chemical industry, with domestic and international sales accounting for 39.91% and 60.09% of total revenue, respectively[33]. - The company is committed to market expansion through innovative product development and strategic patent acquisitions, positioning itself as a leader in the chemical industry[48]. - The company is actively developing new technologies in biochemistry and hydrogen utilization to broaden its product range and market opportunities[109]. - The company is focused on expanding its production capacity while managing the risks of project delays and market absorption of new capacities[114]. Governance and Management - The company maintains a governance structure that complies with relevant laws and regulations, ensuring clear responsibilities among its governing bodies[126]. - The board of directors and supervisory board meetings adhered to established rules and procedures, ensuring proper governance practices[127]. - The company has established a performance-linked compensation mechanism for senior management to attract and retain talent[127]. - The company has implemented a structured decision-making process for the remuneration of its directors and senior management[150]. - The company is committed to transparency in its governance practices, as evidenced by the detailed reporting of executive shareholdings and changes in management[136]. Environmental and Social Responsibility - The company is committed to green development, focusing on biodegradable products and energy efficiency improvements in line with national carbon neutrality goals[54]. - The company has integrated ESG management into its daily operations, enhancing its safety and environmental governance, and was awarded the Best ESG Practice Award in 2023[60]. - The company is focused on sustainable development through multiple R&D projects aimed at meeting industry and customer requirements[77]. - The company is committed to enhancing its operational efficiency and exploring new market opportunities[149]. Risks and Challenges - The company faces risks from raw material price fluctuations, which significantly impact gross margins due to the volatility of key inputs like yellow phosphorus and phosphoric acid[109]. - The company has identified potential risks from intensified industry competition, particularly following the acquisition of Nantong Lianphosphorus by Jiangshan Co[110]. - The company is addressing safety production risks associated with handling hazardous chemicals in its manufacturing processes[113]. Employee and Talent Management - The company recruited 176 new employees in 2023, with 44% holding a master's degree or higher, optimizing its talent structure[59]. - The number of R&D personnel increased by 60.16% from 123 in 2022 to 197 in 2023, with the proportion of R&D staff rising from 14.06% to 20.87%[80]. - The company has established a comprehensive salary management system, with compensation based on performance and market competitiveness[170]. - The training program includes both internal and external training to enhance employee skills and safety awareness[171].