JinJi(SZ:300798)2024-04-23 07:55Financial Performance - The company's operating revenue for 2023 was ¥947,912,519.26, an increase of 5.28% compared to ¥900,383,709.56 in 2022[21]. - The net profit attributable to shareholders for 2023 was ¥15,848,607.95, representing a significant increase of 109.13% from ¥7,578,279.76 in 2022[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,390,725.93, up 349.27% from ¥5,206,384.48 in 2022[21]. - The basic earnings per share for 2023 was ¥0.0379, a 109.39% increase from ¥0.0181 in 2022[21]. - The total assets at the end of 2023 were ¥2,428,674,751.17, reflecting a 9.69% increase from ¥2,214,060,370.90 at the end of 2022[21]. - The net assets attributable to shareholders at the end of 2023 were ¥1,739,356,923.31, a 26.87% increase from ¥1,370,944,287.69 at the end of 2022[21]. - The company reported a negative net cash flow from operating activities of ¥62,768,707.60 in 2023, worsening from a negative cash flow of ¥10,447,871.87 in 2022[21]. - The company achieved a revenue of 947.91 million yuan, representing a year-on-year growth of 5.28%[61]. - The total profit reached 23.05 million yuan, with a significant increase of 132.96% compared to the previous year[61]. - The net profit attributable to shareholders was 15.85 million yuan, up 109.13% year-on-year[61]. Dividend Distribution - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares to all shareholders, based on a total of 468,797,434 shares[4]. - The total distributable profit for the year was RMB 546,669,745.57, indicating a healthy profit allocation strategy[177]. - The company distributed a cash dividend of RMB 0.20 per 10 shares (including tax), with a total cash dividend amounting to RMB 9,375,948.68, representing 100% of the total profit distribution[177]. - The company has no plans for stock bonuses or capital reserve transfers, maintaining a conservative approach to profit distribution[179]. Market Strategy and Growth - The company is expected to expand its market presence and may explore mergers and acquisitions as part of its growth strategy, although specific plans are not detailed in the documents[3]. - The company aims to enhance brand competitiveness through multiple international certifications for its products, including BLUESIGN and ECO-Passport[39]. - The company plans to expand its marketing network and establish a sales network covering core regions, focusing on strategic partnerships with key clients over the next three years[119]. - The company is focusing on international market expansion and cultivating marketing professionals to enhance its global brand recognition[119]. - The company plans to enhance cash flow by accelerating project construction and expanding market services, including computing power leasing and supply[125]. Research and Development - The company's R&D expenses amounted to CNY 3,445.26 million, representing 3.63% of its operating revenue, maintaining a stable investment ratio[40]. - The company is focusing on enhancing product structure and increasing product added value in response to the competitive landscape of the dye industry[31]. - The company is currently constructing projects to produce 15,000 tons of environmentally friendly high-end disperse dyes, enhancing its product range[58]. - The company is in the process of developing several new active dyes, including Active Red 2GF and Active Orange FCW, which are expected to enhance dyeing performance and reduce wastewater discharge[80]. - The company aims to enhance its R&D capabilities and develop high-end multi-purpose reactive dyes to strengthen its market position[118]. - The company plans to develop dye intermediates, particularly H-acid, to improve raw material quality and supply stability[118]. Risk Management - The company faces various risks including macroeconomic risks, industry policy changes, and raw material price fluctuations, which are detailed in the management discussion section[3]. - The company emphasizes the importance of understanding the difference between operational plans and actual commitments to investors, highlighting the need for risk awareness[3]. - The company's future outlook includes a focus on risk management and strategic planning to navigate potential challenges in the market[3]. - The company aims to mitigate risks from raw material price fluctuations by maintaining appropriate inventory levels and establishing long-term partnerships with key suppliers[124]. - Financial risks are heightened due to the need for substantial cash flow to service bond interest and principal if convertible bonds are not converted[126]. Environmental Compliance - The company has implemented a wastewater treatment system with a capacity of 800 tons per day, utilizing advanced treatment processes to effectively remove pollutants[192]. - The company has 15 sets of air pollution control devices, achieving over 95% treatment efficiency for waste gas[192]. - The total wastewater discharge for Tai Xing Jin Yun Dye Co., Ltd. was reported at 67.02 tons per year, with no exceedances of discharge standards[191]. - The company has successfully completed quarterly monitoring of volatile organic compounds (VOCs) and published the results on the VOC emission management platform[195]. - Jiangsu Jinchicken has not faced any penalties for environmental violations during the reporting period, indicating strong compliance with environmental laws[193]. Corporate Governance - The company has established a governance structure compliant with legal regulations, ensuring independent operations from its major shareholders[132]. - There are no significant discrepancies between the company's governance practices and regulatory requirements[132]. - The company has a clear asset ownership structure, with no reliance on major shareholders for operational facilities[133]. - The company maintains independence in financial decision-making, with a dedicated finance department and independent bank accounts[134]. - The company plans to implement a shareholder return plan for the next three years (2023-2025)[161]. Employee Management - The total number of employees at the end of the reporting period was 706, with 692 in major subsidiaries[173]. - The company has 453 production personnel, 29 sales personnel, 72 technical personnel, 11 financial personnel, 137 administrative personnel, and 4 procurement personnel[173]. - The company revised its 2023 annual salary management system, implementing a performance-based salary system linked to production output and quality[174]. - The company has conducted 11 business skills and management training sessions, with over 360 participants[175]. - The educational background of employees includes 3 with master's degrees, 102 with bachelor's degrees, 155 with associate degrees, and 446 with less than associate degrees[173].