Feymer(SH:688350)2024-04-02 16:00Financial Performance - The company's operating revenue for 2023 was ¥1,640,089,571.92, a decrease of 3.34% compared to the previous year[26]. - The net profit attributable to shareholders for 2023 was ¥27,207,614.93, down 78.78% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥20,035,671.02, a decrease of 80.94%[29]. - The net cash flow from operating activities was ¥102,421,685.02, a reduction of 26.90% compared to the previous year[29]. - The company's total assets at the end of 2023 were ¥2,490,206,974.45, a decrease of 2.04% from the end of the previous year[27]. - The net assets attributable to shareholders increased by 0.70% to ¥1,507,942,105.53 at the end of 2023[27]. - Basic and diluted earnings per share for 2023 were both ¥0.22, reflecting a decline of 78.85% year-on-year[28]. - The company's main raw materials, including acrylonitrile and chloroprene, are highly correlated with crude oil prices, which have shown significant volatility[114][115]. - The company achieved operating revenue of RMB 1.64 billion, a decrease of 3.34% compared to the previous year[119]. - The net profit attributable to shareholders was RMB 27.21 million, down 78.78% year-on-year[119]. - Total assets at the end of the reporting period amounted to RMB 2.49 billion, a decrease of 2.04% year-on-year[119]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2.48 RMB per 10 shares, totaling approximately 29.5 million RMB (including tax) based on a total share capital of 118,939,794 shares after deducting repurchased shares[6]. - The board of directors has approved the profit distribution plan, pending shareholder approval[7]. Operational Risks and Challenges - The company has detailed various operational risks and corresponding countermeasures in the report[5]. - The company has not achieved profitability since its listing[5]. - The company faced challenges due to a decline in sales volume of steam and hydrogen, as well as falling prices of key raw materials[26]. - The company’s operational risks include safety production risks due to the handling of hazardous materials and the potential for accidents during production[109]. - The company faces risks related to technological updates and progress, as it operates in a technology-driven industry with strong technical barriers[107]. Research and Development - The research and development expenditure accounted for 4.70% of operating revenue, a slight decrease from 4.73% in the previous year[28]. - The company has added 37 new authorized patents, including 23 invention patents and 14 utility model patents, bringing the total to 247 authorized patents by the end of the reporting period[43]. - The company has developed 21 core technologies in functional monomer manufacturing, water-soluble polymer applications, and water treatment membranes, participating in the establishment of multiple national and industry standards[80]. - The company has developed a proprietary technology for producing acrylamide with a conversion rate and purity exceeding 99.9%, resulting in high product yield and quality[81]. - The company has achieved a significant reduction in waste gas emissions, meeting national standards through advanced production techniques[81]. Market and Industry Trends - The water-soluble polymer industry is experiencing rapid growth, driven by national strategies for high-quality and green development, with a shift from import reliance to export growth[58]. - The domestic water-soluble polymer market is experiencing continuous development and structural adjustment, with a focus on integration, scale, and concentration of the industry[63]. - The company aims to enhance its competitive edge by focusing on the core industry chain of hydrophilic functional polymers, targeting sectors such as papermaking, water treatment, mineral processing, oil and gas extraction, and textile dyeing[169]. - The company is actively pursuing industrial investment and mergers and acquisitions to integrate upstream and downstream resources for growth[181]. Digital Transformation and Innovation - The company has implemented a digital transformation strategy, completing the construction and implementation of digital systems such as CRM and SRM to enhance market insight and supply chain efficiency[49]. - The company is promoting safety culture and management efficiency, implementing comprehensive safety measures and digital management systems[179]. - The company is advancing digital transformation to enhance operational efficiency and innovation capabilities, aiming for sustainable development[177]. Investment and Expansion Plans - The company signed an investment cooperation agreement to build a new project in Anhui with a total investment of approximately 2.1 billion yuan, covering an area of about 368 acres and expected to produce 445,000 tons of water-soluble polymers and functional monomers annually[45]. - The company plans to invest approximately 2.1 billion RMB in a project to build 445,000 tons of water-soluble polymers and supporting functional monomers in Anqing High-tech Zone, with a phased construction approach[152]. - The company is focusing on high-quality construction of the Anhui base to achieve industrial upgrades and capacity expansion[175]. Corporate Governance and Compliance - The company emphasizes the importance of the accuracy and completeness of the annual report, with management taking legal responsibility[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company does not have any special arrangements for corporate governance[9]. - Strict compliance with regulatory requirements is being enforced to enhance corporate governance and internal control management[180].