Longyan Zhuoyue New Energy (SH:688196)2024-04-19 11:14Financial Performance - The company's operating revenue for 2023 was approximately ¥2.81 billion, a decrease of 35.29% compared to ¥4.34 billion in 2022[22]. - The net profit attributable to shareholders for 2023 was approximately ¥78.61 million, down 82.60% from ¥451.73 million in 2022[22]. - The net cash flow from operating activities was negative at approximately ¥322.77 million, a decline of 140.70% compared to ¥792.99 million in 2022[22]. - The basic earnings per share for 2023 was ¥0.66, a decrease of 82.45% from ¥3.76 in 2022[23]. - The net profit after deducting non-recurring gains and losses was approximately ¥108.06 million in 2023, down 77.45% from ¥479.28 million in 2022[22]. - The average selling price of biodiesel products decreased by 25.90% due to market fluctuations and EU anti-dumping investigations[90]. - Biodiesel sales volume decreased by 13.07% year-on-year, impacting overall revenue[90]. - The total revenue from the biomass energy segment was approximately RMB 2.60 billion, with a gross margin of 6.51%[95]. - Total revenue for the reporting period was 2,594,578,400.84 CNY, a decrease of 32.34% compared to the previous year[102]. Research and Development - Research and development expenses accounted for 5.30% of operating revenue in 2023, an increase from 4.62% in 2022[24]. - The company established 17 R&D projects in 2023, with R&D investment amounting to CNY 149 million, and filed 35 new patent applications[39]. - Total R&D expenditure for the year was approximately ¥149 million, a decrease of 25.74% compared to the previous year, while the R&D expenditure as a percentage of revenue increased to 5.30%[62]. - The company has increased its R&D personnel to 129, representing 19.88% of the total workforce, with an average salary of RMB 133,255.05[69]. - The company has developed core technologies for producing high-quality ester-based biodiesel and hydrocarbon biodiesel, with a focus on utilizing various waste oil feedstocks[58]. Corporate Governance - The company has not reported any significant risks that could materially affect its operations during the reporting period[4]. - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[5]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for providing guarantees[8]. - The company has not experienced any inability of the majority of directors to ensure the authenticity, accuracy, and completeness of the annual report[8]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company’s governance practices comply with relevant laws and regulations, with no significant discrepancies noted[126]. - The company’s financial situation and decision-making processes were independently supervised by the board of supervisors[126]. - The company has established a comprehensive internal control management system, ensuring effective operation without significant defects[162]. Environmental and Social Responsibility - The company invested CNY 4.41 million in environmental protection during the reporting period[166]. - The company has not been listed as a key pollutant discharge unit by environmental protection authorities during the reporting period[167]. - The company implemented measures to reduce carbon emissions, including optimizing production processes and using biomass fuel[174]. - The company specializes in the production of biodiesel and bio-based materials from waste oils, contributing to a circular economy[175]. - The company has maintained a good environmental credit rating for several consecutive years, recognized as an environmentally friendly and trustworthy enterprise[176]. - The company actively engages in carbon reduction initiatives, focusing on sustainable operations and resource efficiency[175]. - The company donated a total of 46.54 million yuan in cash and 49 million yuan for public welfare projects during the reporting period[178]. Market Position and Strategy - The company’s international market position improved, with a focus on building a self-operated sales network in Europe[36]. - The company’s collaboration with Xiamen Haiao Group for a biodiesel application demonstration project was included in the national energy bureau's pilot list[38]. - The company has established a stable procurement system for waste oil, covering nationwide and Southeast Asia, ensuring stable supply and reasonable cost procurement[45]. - The domestic market for biodiesel is expected to accelerate due to national policies promoting non-grain biomass liquid fuels and the application of biodiesel[51]. - The company has built a self-operated sales network in Europe, enhancing its market competitiveness and customer responsiveness[74]. Shareholder and Financial Policies - The company plans to distribute a cash dividend of 2.70 CNY per 10 shares, totaling 32,400,000 CNY based on a total share capital of 120,000,000 shares as of December 31, 2023[5]. - The company declared a cash dividend of CNY 32,400,000, which represents 41.22% of the net profit attributable to ordinary shareholders in the consolidated financial statements[160]. - The company executed its dividend policy in compliance with its articles of association, with the 2022 profit distribution plan approved on April 21, 2023, and implemented on May 12, 2023[157]. - The company plans to strictly adhere to its profit distribution policy post-IPO, ensuring shareholder interests are protected[196]. Employee and Management Practices - The company has a total of 649 employees, with 335 in production, 33 in sales, 24 in procurement, 129 in technology, 35 in finance, and 93 in administration[153]. - The company’s training program focuses on enhancing employee skills and management capabilities through both online and offline methods[155]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 505.25 million yuan[133]. - The company has maintained transparency in the actual payment of remuneration to its directors and senior management, consistent with disclosures[140].