HBYH(SZ:000422)2024-04-12 16:00Financial Performance - The total revenue for 2023 reached 1.26 billion yuan, showing a year-on-year increase of 5%[49]. - The company reported a net profit of 150 million yuan for 2023, a decrease of 10% compared to the previous year[49]. - The company's operating revenue for 2023 was ¥17,042,037,265.76, a decrease of 17.72% compared to ¥20,712,522,438.89 in 2022[54]. - The net profit attributable to shareholders for 2023 was ¥453,146,283.51, down 79.06% from ¥2,164,385,796.11 in 2022[54]. - The net profit after deducting non-recurring gains and losses was ¥478,421,829.85, a decline of 72.58% from ¥1,744,768,402.93 in 2022[54]. - The basic earnings per share for 2023 was ¥0.4698, representing an 80.51% decrease from ¥2.4106 in 2022[54]. - The total assets at the end of 2023 were ¥21,434,333,757.47, an increase of 8.99% from ¥19,666,579,120.58 at the end of 2022[54]. - The net assets attributable to shareholders at the end of 2023 were ¥6,574,480,657.91, up 40.59% from ¥4,676,356,367.52 at the end of 2022[54]. - The company reported a significant decline in cash flow from operating activities, with a net cash flow of ¥1,626,449,159.93 in 2023, down 57.88% from ¥3,861,172,042.47 in 2022[54]. Dividend Distribution - The company plans to distribute a cash dividend of 3.20 RMB per 10 shares to all shareholders, based on a total share capital of 1,057,866,712 shares as of December 31, 2023[24]. - The company plans to distribute a cash dividend of ¥3.20 per 10 shares, which is a 220% increase compared to the previous year's dividend of ¥1.00 per 10 shares[69]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[3]. - The company has outlined potential risks and corresponding countermeasures in its future business outlook section[7]. - The company has reported no significant defects in financial reporting, with zero major or important defects identified[76]. Environmental Responsibility - The company has a commitment to environmental and social responsibility as part of its operational strategy[5]. - The company is implementing new sustainability initiatives to comply with "dual carbon" policies, aiming for a 20% reduction in carbon emissions by 2025[49]. - The company has a total of 16 environmental protection permits, with validity periods ranging from 2020 to 2028[79]. - The total emissions for COD were reported at 35.98 tons for the year, with a permitted limit of 501 tons per annum[81]. - The company’s nitrogen oxides emissions totaled 0.7079 tons for the year, well below the permitted limit of 18.1944 tons per annum[81]. - The company has implemented a comprehensive internal control system, with the auditor's report aligning with the board's self-assessment[77]. - The company is committed to environmental protection, holding multiple permits for wastewater discharge across various subsidiaries[79]. - The company invested approximately 33.827 million yuan in environmental governance and protection in 2023, and paid environmental protection taxes of about 2.49 million yuan[89]. Market Expansion and Product Development - The company is focused on expanding its market presence and developing new products and technologies[7]. - User data indicates a 15% increase in customer base, reaching 500,000 active users by the end of 2023[49]. - The company plans to invest 200 million yuan in R&D for new product development in 2024, focusing on biodegradable materials[49]. - The company aims to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[49]. - A strategic acquisition of a local competitor is expected to be finalized in Q2 2024, enhancing production capacity by 30%[49]. - The company launched diversified value-added products such as Lipu Jia urea and Haida Li urea, enhancing its product portfolio[92]. Safety Management - The company has established a comprehensive safety management system, with 15 government inspections conducted in 2023, identifying and rectifying 116 issues[107]. - The company was recognized as a national secondary safety standard enterprise, effective for three years, enhancing its safety management credentials[95]. - The company has not experienced any major safety accidents during the reporting period, indicating effective safety management practices[112]. Governance and Compliance - The company has committed to maintaining transparency and fairness in its dealings with shareholders, ensuring no undue advantages are sought[117]. - The company has established a complete governance structure to ensure independent operations and minimize related party transactions[138]. - Hubei Yihua Chemical Co., Ltd. reported a commitment to improve internal controls and information disclosure regarding related party transactions after the completion of the restructuring[147]. - The company has pledged to not intervene in the management activities of the listed company and will not infringe on the interests of the company during its tenure as the controlling shareholder[147]. Production Capacity and Operations - Urea production capacity is 1.56 million tons with a utilization rate of 93.66%[171]. - Diammonium phosphate production capacity is 1.26 million tons with a utilization rate of 107.35%[171]. - Polyvinyl chloride (PVC) production capacity is 840,000 tons with a utilization rate of 102.47%[171]. - The company operates various chemical products across multiple subsidiaries, including PVC, caustic soda, and TMP[171]. - The company has a production capacity of 100,000 tons/year for caustic soda and 120,000 tons/year for hydrochloric acid, among other chemicals, as per the safety production license[194]. Strategic Partnerships - The company has established a joint venture with Ningde Times to produce refined phosphoric acid and lithium iron phosphate precursors, with products expected to be launched within the year[164]. - The company is committed to maintaining long-term stable partnerships with suppliers and customers, focusing on quality management and customer rights protection[92].