安纳达(002136) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was CNY 2,111,044,618, a decrease of 22.22% compared to CNY 2,714,264,690 in 2022[23]. - The net profit attributable to shareholders for 2023 was CNY 64,504,400, representing a decline of 75.95% from CNY 268,210,048 in 2022[23]. - The basic earnings per share for 2023 was CNY 0.3000, down 75.94% from CNY 1.2474 in 2022[25]. - The net cash flow from operating activities for 2023 was CNY 26,233,357, a significant decrease of 91.90% compared to CNY 323,801,660 in 2022[25]. - The company's total revenue for 2023 was approximately 2.11 billion yuan, a decrease of 22.22% compared to 2022[60]. - The revenue from titanium dioxide was 1.36 billion yuan, accounting for 64.65% of total revenue, with a year-on-year decrease of 11.30%[60]. - The revenue from phosphoric iron was 718.8 million yuan, representing 34.05% of total revenue, with a significant year-on-year decline of 35.53%[60]. - The company reported a net profit decline of ¥313 million, primarily due to decreased prices of titanium dioxide and iron phosphate, impacting overall cash flow[82]. Shareholder Information - The company reported a profit distribution plan based on a base of 215,020,000 shares, proposing a cash dividend of 1 RMB per 10 shares (including tax) and no bonus shares[4]. - A cash dividend of ¥1.00 per 10 shares will be distributed, totaling ¥21,502,000.00, which represents 100% of the profit distribution[159]. - The company’s cash dividend distribution is in compliance with its articles of association and shareholder resolutions[158]. - The total number of employees at the end of the reporting period was 826, with 597 in production, 72 in technical roles, and 24 in sales[154]. Business Operations - The company’s main business includes titanium dioxide and iron phosphate series products, with the latter's production starting in 2015[20]. - The company has established a full subsidiary, Anhui Annada International Trade Co., Ltd., to enhance its trading capabilities[15]. - The company has a production capacity of 150,000 tons/year for battery-grade lithium iron phosphate, with a capacity utilization rate of 55.15%[52]. - The company has a design capacity of 80,000 tons for titanium dioxide, achieving a capacity utilization rate of 110.10%[52]. - The company plans to produce 100,000 tons of titanium dioxide and 120,000 tons of iron phosphate in 2024, with sales targets matching production levels[105]. Market Conditions - In 2023, China's economy grew by 5.2%, with the overall industrial added value increasing by 4.6%, while the chemical raw materials and products manufacturing industry saw a profit decline of 34.1%[34]. - The overall market for titanium dioxide is expected to face continued pressure from oversupply and weak downstream demand in the short term[44]. - The iron phosphate market is experiencing oversupply, with significant competition among lithium-ion battery manufacturers leading to a decline in prices[42]. Research and Development - The company is actively enhancing its R&D capabilities, focusing on the development of high-performance titanium dioxide products for various applications[45]. - The company has implemented several research projects aimed at reducing production costs and energy consumption, including the development of specialized titanium dioxide for photovoltaic back membranes[54]. - The company is focusing on developing continuous synthesis technology for battery-grade iron phosphate to enhance production efficiency and reduce costs[78]. - The company is developing new technologies for the synthesis of lithium manganese iron phosphate to meet market demand and expand its product portfolio[77]. Risk Management - The company emphasizes the importance of risk factors in its future development outlook, as detailed in the management discussion and analysis section[4]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as the net profit before and after deducting non-recurring gains and losses has been negative for the last three years[26]. - The company recognizes industry risks related to economic downturns and increased competition in the titanium dioxide and iron phosphate markets[112][113]. Environmental and Safety Management - The company has established a robust safety and environmental management system, enhancing its commitment to environmental protection and compliance[161]. - The company has effectively managed solid waste, with most being processed by third-party companies for ecological restoration and recycling[179]. - The company has invested in environmental protection facilities as per the Environmental Impact Report, ensuring stable operation and compliance with environmental standards[182]. - The company achieved a reduction in annual emissions of COD, NH3-N, SO2, and NOX by 59.61%, 71.14%, 99.4%, and 85.93% respectively, all within the limits set by the Environmental Impact Report[176]. Corporate Governance - The company has established a strategic framework for corporate governance, ensuring compliance with relevant laws and regulations[121]. - The board of directors consists of 5 members, including 2 independent directors, ensuring compliance with legal requirements and effective governance[123]. - The company has established a transparent and fair performance evaluation and incentive mechanism for senior management, aligning with legal regulations[125]. - The company maintains independence from its controlling shareholder in operations, ensuring no interference in decision-making processes[122]. Community Engagement - The company actively promotes rural revitalization strategies, providing small loans to capable poverty alleviation households to support income-generating projects such as breeding and small-scale planting[193]. - The collective economic income of Gaofeng Village increased by over 600% compared to before assistance in 2023[194]. - The company provided assistance to 42 impoverished households through cash donations and support during the winter season[194].