善水科技(301190) - 2023 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders of the listed company decreased by 79.03% to CNY 21.05 million, compared to CNY 100.40 million in the same period last year[3]. - The net profit after deducting non-recurring gains and losses increased to CNY 115.37 million, up from CNY 81.22 million year-on-year[3]. - The company recognized a fair value loss of CNY 118.35 million on financial assets due to overdue trust products from Zhongrong International Trust Co., Ltd., with an investment principal of CNY 256 million[3]. - The company's operating revenue for 2023 was RMB 495,286,440, representing a 23.69% increase compared to RMB 400,436,448 in 2022[32]. - The net cash flow from operating activities was RMB 13,975,199.5, down 85.24% from RMB 94,708,909 in 2022[32]. - Basic earnings per share for 2023 were RMB 0.0981, a decline of 79.03% compared to RMB 0.4679 in 2022[32]. - The company reported a total non-recurring loss of approximately ¥94.32 million in 2023, significantly impacting overall profitability[39]. - The company received government subsidies amounting to ¥2.63 million in 2023, a decrease from ¥16.75 million in 2022, reflecting a decline in non-operating income sources[38]. Market and Industry Trends - The company operates in the fine chemical industry, focusing on the research, production, and sales of dye intermediates, pesticides, and pharmaceutical intermediates[45]. - The global fine chemical market was valued at over €1.6 trillion in 2020, with China's market expected to exceed ¥11 trillion by 2027, indicating strong growth potential[44]. - The dye intermediate industry experienced a 1.3% year-on-year increase in production, with a total output of 55.95 billion meters in December 2023, indicating a recovery in demand[47]. - The textile and apparel end-market demand is recovering, driven by national policies and seasonal consumption peaks, which may benefit the company's sales in the dye intermediate sector[47]. - In 2023, China's pesticide production decreased by 2.19% year-on-year, totaling 1.849 million tons, with declines in herbicides, fungicides, and plant growth regulators[48]. Product Development and Innovation - The company plans to focus on the development of new products and technologies to enhance market competitiveness[25]. - The company’s production technology for 6-nitro compounds has achieved a yield improvement to over 90%, with product purity reaching 98%[53]. - The company has developed proprietary technologies for the continuous production of chlorinated pyridine, enhancing conversion rates while reducing wastewater generation[53]. - The product development plan includes a focus on dye intermediates and chlorinated pyridine series products, such as 2-chloropyridine and 2,3,5-trichloropyridine[106]. - The company plans to enhance its existing product lines, particularly in chlorinated pyridine series, and ensure smooth progress of fundraising projects[104]. Operational Efficiency and Cost Management - The company is committed to improving operational efficiency and reducing costs in response to market challenges[25]. - The company’s energy procurement costs account for over 30% of total production costs, highlighting the importance of energy management[52]. - The company has implemented a refined management system to ensure efficient, environmentally friendly, and safe production processes[62]. - The company plans to optimize its production processes, aiming for a 5% increase in product yield through automation technology improvements[77]. Research and Development - The company has a total of 58 R&D personnel, with a focus on continuous innovation in product quality and process technology[56]. - The company holds 38 patents, including 11 invention patents and 27 utility model patents, demonstrating its strong R&D capabilities[56]. - The company's R&D expenses increased by 30.86% to CNY 25.91 million, reflecting enhanced collaboration with external universities[64]. - The number of R&D personnel increased by 18.37% to 58, with a higher proportion of staff holding bachelor's degrees[78]. Environmental and Safety Compliance - The company has maintained a strong focus on environmental protection and pollution reduction, implementing clean production processes and ensuring compliance with environmental regulations[117]. - The company is classified as a key pollutant discharge unit by the environmental protection department[179]. - The company has established a wastewater treatment station to handle its industrial wastewater effectively[179]. - The company has implemented measures to ensure that total nitrogen discharge is within the limit of 0.91 tons per year, against a permitted limit of 4.69 tons per year[179]. - The company has achieved ISO 45001:2018 certification for occupational health and safety management systems[197]. Governance and Management - The company has established an independent internal control system to ensure effective governance and risk management[130]. - The board of directors consists of 9 members, complying with legal and regulatory requirements, and operates through four specialized committees[130]. - The company has a dedicated financial department with an independent accounting system and financial management practices[136]. - The company has not experienced any changes in the positions of directors, supervisors, or senior management during the reporting period[140]. - The company has a diverse management team with varying levels of education and experience[145]. Employee Engagement and Corporate Culture - The company has established a specialized training system for employees, including safety education and vocational qualification training, to enhance workforce capabilities[161]. - The company emphasizes employee care and aims to enhance corporate cohesion by creating a supportive work environment[199]. - The company organizes various cultural and sports activities to improve employee morale and overall cultural quality[199]. - The total number of employees at the end of the reporting period is 618, with 427 in the parent company and 191 in major subsidiaries[158].