CAPCHEM(SZ:300037)2024-04-01 16:00Financial Performance - The company's operating revenue for 2023 was ¥7,483,950,240.16, a decrease of 22.53% compared to ¥9,660,713,467.18 in 2022[17]. - Net profit attributable to shareholders for 2023 was ¥1,011,067,526.26, down 42.50% from ¥1,758,398,655.27 in 2022[17]. - Basic earnings per share decreased to ¥1.36 in 2023, down 42.62% from ¥2.37 in 2022[17]. - The company achieved operating revenue of CNY 748,395.02 million, a year-on-year decrease of 22.53%[78]. - The net profit attributable to shareholders was CNY 101,106.75 million, down 42.50% year-on-year[78]. - Revenue from battery chemicals was CNY 505,311.16 million, a decline of 31.74% due to intensified industry competition and price fluctuations[79]. - Organic fluorine chemicals revenue increased by 21.45% to CNY 142,541.53 million, driven by market opportunities in high-end fluorinated fine chemicals[80]. - Capacitor chemicals revenue decreased by 9.77% to CNY 62,859.99 million, impacted by lower-than-expected end-user demand[82]. - Semiconductor chemicals revenue was CNY 31,079.05 million, a slight decline of 3.76%, with growth potential in AI and digital infrastructure[83]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions to enhance its competitive position[11]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[26]. - The company is focusing on expanding its market presence through strategic acquisitions and partnerships in the new materials sector[179]. - Future guidance indicates a continued emphasis on research and development in lithium battery materials to meet growing market demand[115]. - The company aims to enhance its overseas market competitiveness through the establishment of a lithium-ion battery electrolyte project in Poland[74]. - The company is exploring strategic acquisitions to enhance its market position in the lithium battery sector[121]. Research and Development - The company is focused on developing new products and technologies, particularly in the electronic chemical materials sector[11]. - The company has been focusing on R&D for new technologies to enhance its competitive edge in the market[26]. - The company is actively increasing R&D investment to enhance its technological and product capabilities, aiming to provide more competitive product combinations and solutions for customers[41]. - The company has established 30 innovation platforms, including a lithium-ion battery electrolyte engineering laboratory, to enhance its R&D capabilities[70]. - The company is focusing on R&D for new technologies in the electronic materials field to maintain competitive advantage[179]. - The company has applied for over 30 patents related to sodium-ion battery electrolytes, indicating a strong focus on innovation in this area[65]. Governance and Management - The company has a comprehensive governance structure, with all board members present for the report's approval, ensuring accountability and transparency[3]. - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[3]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[165]. - The company has established a comprehensive performance evaluation and incentive mechanism for senior management, aligning with its current development needs[167]. - The company emphasizes transparency in information disclosure, with the chairman as the primary responsible person for disclosures, ensuring timely and accurate information for shareholders[168]. - The company actively engages with investors through various channels, achieving the highest rating of "A" in the Shenzhen Stock Exchange's 2022 information disclosure assessment[169]. Environmental and Social Responsibility - The annual report outlines the company's commitment to environmental and social responsibilities, reflecting its corporate governance practices[5]. - The company is committed to sustainable development by promoting low-carbon, resource-efficient, and circular manufacturing practices[72]. - The company has established a "Four Green" development concept to reduce pollution through advanced technology and innovation, aligning with national "dual carbon" strategies[152]. - The company adheres to strict safety and environmental regulations, maintaining an ISO14001:2015 environmental management system and an ISO45001:2018 occupational health and safety system[153]. Financial Management and Investments - The company has completed a capital increase of ¥8,084,000 in Poland's Capchem, acquiring a 90% stake in lithium battery materials[115]. - The total investment amount for the reporting period was ¥1,835,986,372.24, representing a 2.96% increase compared to ¥1,783,125,452.84 in the same period last year[114]. - The company has raised a total of RMB 1,122,261,524.47 from a private placement of 32,758,620 shares at RMB 34.80 per share, after deducting underwriting fees[132]. - The company has utilized a total margin balance of 450,300 yuan for hedging activities as of December 31, 2023[128]. - The company plans to conduct forward foreign exchange transactions based on 30% of the expected annual foreign sales receipts to mitigate foreign exchange risks[127]. Product Development and Innovation - The company has developed high-voltage electrolyte solutions that meet the needs of domestic and international battery manufacturers, with a cycle life exceeding 2000 cycles at room temperature[86]. - The company has successfully developed a new high-pressure solution for aluminum electrolytic capacitors, achieving industrialization[101]. - The company is advancing the development of solid-state lithium battery materials, which are crucial for next-generation battery technology[101]. - The company is focusing on the development of new chemical materials, with a projected investment of 2,768 million CNY for the upcoming year[121]. Employee and Stakeholder Engagement - The company emphasizes employee development and performance management to align with strategic goals and enhance operational effectiveness[77]. - The total remuneration paid to directors, supervisors, and senior management for the year 2023 amounted to 26.6977 million yuan[191]. - The company’s remuneration policy is based on the achievement of annual operational targets and performance evaluations[191]. - The management team includes experienced professionals with backgrounds in chemical engineering and business management, enhancing strategic decision-making[179].