Evergreen Technology(SH:603125)2024-04-01 16:00Financial Performance - The company's operating revenue for 2023 reached ¥1,019,011,837.6, representing a 5.75% increase compared to ¥963,610,053.57 in 2022[20]. - Net profit attributable to shareholders for 2023 was ¥212,572,316.87, an increase of 11.5% from ¥190,652,700.11 in 2022[20]. - The net cash flow from operating activities increased significantly by 80.96% to ¥205,598,020.53 in 2023, compared to ¥113,615,366.34 in 2022[20]. - The total assets of the company grew by 136.04% to ¥2,298,254,162.5 at the end of 2023, up from ¥973,667,449.36 at the end of 2022[20]. - The weighted average return on equity decreased to 12.58% in 2023, down from 25.63% in 2022, a reduction of 13.05 percentage points[21]. - The basic earnings per share for 2023 was ¥1.20, a decrease of 9.09% compared to ¥1.32 in 2022[21]. - The company reported a total of ¥5,119,269.62 in non-recurring gains and losses for 2023, compared to ¥587,842.58 in 2022[25]. - The company's gross profit for 2023 was CNY 32,257.4 million, reflecting a growth of 9.13% year-on-year[71]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 20,745.30 million, up by 9.15% from the previous year[71]. Shareholder Returns - The company plans to distribute a cash dividend of 2.30 CNY per 10 shares, totaling 44,286,500 CNY (including tax) based on a total share capital of 192,550,000 shares as of December 31, 2023[4]. - The cash dividend distribution represents 20.83% of the net profit attributable to ordinary shareholders in the consolidated financial statements[187]. - The company will increase its share capital by 4.5 shares for every 10 shares held, resulting in a total increase of 86,647,500 shares, raising the total share capital to 279,197,500 shares[4]. Risk Management - The company emphasizes that forward-looking statements regarding future plans and strategies are subject to known and unknown risks and uncertainties, which may lead to significant differences from actual performance[5]. - The company has detailed potential risk factors in the "Management Discussion and Analysis" section of the report[6]. - The company faces risks related to industry regulation and national policy adjustments that could impact its operations[142]. - The company is exposed to intensified market competition, which may affect its market share and profitability if it fails to maintain its competitive edge[143]. - Fluctuations in raw material prices could adversely affect the company's operating performance, as raw materials constitute a significant portion of its costs[145]. Corporate Governance - The second board of directors consists of 7 members, including 3 independent directors, meeting the requirement of one-third independent representation[152]. - The second supervisory board is composed of 3 members, with 2 non-employee representatives elected by the shareholders' meeting and 1 employee representative elected by the employee representative assembly[153]. - Independent directors actively participated in board meetings and provided positive suggestions regarding the company's management and strategic direction[155]. - The company has established a dedicated information disclosure management system to ensure equal access to information for all shareholders[156]. - The company maintains independence in operations, finance, and decision-making, with no interference from the controlling shareholder[158]. Research and Development - The company has committed to continuous research and development investments, achieving significant innovative results during the reporting period[29]. - The company achieved significant R&D results in 2023, including the successful development of a third-generation synthetic catalyst with excellent selectivity and conversion rates, and breakthroughs in clean synthesis technologies for various aromatic monomers[31][32]. - The company has developed 73 patents, including 10 invention patents, showcasing its commitment to technological innovation[67]. - Research and development expenses increased by 30.48% to CNY 41,204,185.28, indicating a focus on innovation[73]. - The company is actively collaborating with universities and research institutions to address key challenges in the polymer materials sector[66]. Environmental Management - The company has invested 2.53 million RMB in environmental protection during the reporting period[192]. - The company has maintained compliance with environmental regulations, ensuring that all pollutants are discharged within the legal limits[193]. - The company has established a wastewater treatment plant and implemented a comprehensive treatment process for both domestic and production wastewater, ensuring good operational status[196]. - The air pollution control system utilizes low-nitrogen burners, with emissions of particulate matter, sulfur dioxide, and nitrogen oxides meeting relevant standards, also maintaining good operational status[196]. - Hazardous solid waste generated during production is classified and transferred to qualified disposal units, achieving zero solid waste discharge[196]. Market Position and Strategy - The company is committed to becoming a leader in its niche market, collaborating with universities and key polymer material laboratories to address critical issues in the domestic polymer materials sector[33]. - The company is positioned to benefit from the increasing demand for environmentally friendly materials, aligning with national goals for carbon neutrality[98]. - The company aims to enhance product differentiation and value through continuous upgrades in products, technologies, and processes, maintaining its industry leadership[133]. - The company plans to expand production capacity to meet growing market demand, as current capacity constraints limit its competitive advantage and market expansion[132]. - The company intends to gradually increase production scale to continuously improve market share[134]. Operational Efficiency - The company has invested in advanced business process management systems to strengthen the management and accounting of fundraising projects, improving operational efficiency and reducing internal control risks[34]. - The net cash flow from operating activities surged by 80.96% to CNY 205,598,020.53, reflecting improved operational efficiency[73]. - The company's total R&D expenditure for the period was ¥41,204,185.28, accounting for 4.04% of total revenue[86]. - The company's reliance on the top five suppliers was 44.01%, with total procurement from these suppliers amounting to ¥26,450.05 million[86]. - The company's operating costs are over 70% attributed to material costs, which are stable year-on-year[122].