JHSY(SZ:002597)2024-04-15 11:14Financial Performance - The company achieved operating revenue of CNY 531,111.59 million in 2023, a decrease of 26.75% compared to 2022[29]. - The net profit attributable to shareholders was CNY 70,416.17 million, down 58.46% year-on-year[29]. - Revenue from food manufacturing products was CNY 288,952.17 million, a decline of 36.60% from the previous year[29]. - Revenue from basic chemicals reached CNY 194,172.30 million, decreasing by 14.43% compared to 2022[29]. - The total revenue for the reporting period was approximately ¥5.31 billion, a decrease of 26.75% compared to ¥7.25 billion in the previous year[42]. - Revenue from the food manufacturing segment was approximately ¥2.89 billion, accounting for 54.40% of total revenue, down 36.60% from ¥4.56 billion[42]. - The basic chemical segment generated approximately ¥1.94 billion, representing 36.56% of total revenue, a decline of 14.43% from ¥2.27 billion[42]. - Domestic sales accounted for 77.00% of total revenue at approximately ¥4.09 billion, while international sales dropped to 23.00% at approximately ¥1.22 billion, a decrease of 52.38%[42]. Research and Development - The company has established multiple R&D centers, including the Hefei Research Institute and Shanghai Health Food Application R&D Center, to enhance innovation capabilities[26]. - The company is actively investing in the development of environmentally friendly products and processes, such as biodegradable plastics and bio-based chemicals[20]. - The company has adjusted its organizational structure to establish several innovation centers, focusing on nutrition, health, and new materials[28]. - The company’s core technologies in food additives, such as sucralose and acesulfame, are at an internationally leading level in terms of production cost and yield[26]. - Research and development expenses were approximately ¥235.34 million, a slight decrease of 2.90% from ¥242.36 million[52]. - In 2024, the company will continue to focus on "green chemistry + synthetic biology technology" with increased R&D investment to enhance its market position and competitiveness[80]. - The company will establish a comprehensive biological synthesis innovation platform in 2024, enhancing its R&D and industrialization capabilities in the biological synthesis field through self-research and partnerships with external research institutions and universities[122]. Investment and Financial Management - The company made a significant investment of ¥779,011,805.04 in the second phase of the circular economy industrial park project[64]. - The net cash flow from financing activities decreased by 311.28% compared to the previous year, mainly due to increased cash payments for dividends, share buybacks, and debt repayments[56]. - Cash and cash equivalents decreased by 24.05% to ¥2,335,942,851.36 compared to the previous period[59]. - The company has a total of ¥464,224,050.15 in accounts receivable financing, which is pledged as collateral[63]. - The company engaged in foreign exchange hedging activities to mitigate currency risk, with a total of $8 million allocated for this purpose[75]. - The company has acknowledged macroeconomic fluctuations and raw material price volatility as potential risks to its business[127]. Strategic Initiatives - The company is exploring new business expansions and has established a joint venture in the renewable energy sector with a registered capital of CNY 1 million[32]. - The company aims to establish a new manufacturing platform for high-quality electronic-grade materials targeting the new energy and semiconductor industries[84]. - The company plans to deepen the integration of its intellectual property system with industrial development to promote technological innovation and industrial upgrades[85]. - The company will maintain its competitive strategy of leading total costs and market share while focusing on the "beautiful life" and "advanced manufacturing" strategic directions[80]. - The company is focused on expanding its fragrance business by promoting the large-scale industrialization and market introduction of multiple daily chemical fragrance products, particularly those based on muscone[122]. Corporate Governance and Management - The total remuneration for senior management is reported to be approximately 2,995,771[138]. - The company maintains independence from its controlling shareholder, ensuring that its board and supervisory board operate independently[135]. - The company has established a strategic committee to review and propose the 2023 annual work plan and key projects based on industry conditions[176]. - The remuneration and assessment committee has held two meetings to evaluate the performance of directors and senior management for 2023[176]. - The company has a structured cash dividend policy that complies with its articles of association and shareholder resolutions[184]. - The company’s board of directors has approved the remuneration scheme for directors and senior management, linking performance bonuses to annual operational results[191]. Future Outlook - The company has provided a revenue guidance of 1.7 billion CNY for the next fiscal year, which reflects an expected growth of 13%[144]. - New product launches are expected to contribute an additional 300 million CNY in revenue, with a focus on eco-friendly products[144]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2024[144]. - The company plans to invest 100 million CNY in digital transformation initiatives over the next two years[144]. - The company aims to enhance brand building and improve international recognition through innovative marketing strategies in 2024[124].