BIO-CHEM(SH:603360)2024-04-25 11:53Financial Performance - The company's operating revenue for 2023 was CNY 1,065,660,659.85, a decrease of 15.20% compared to CNY 1,256,659,912.76 in 2022[23]. - The net profit attributable to shareholders for 2023 was CNY 328,375,064.55, down 18.43% from CNY 402,565,517.91 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 318,914,019.48, a decrease of 20.16% from CNY 399,418,246.97 in 2022[23]. - The net cash flow from operating activities for 2023 was CNY 389,685,710.62, down 18.80% from CNY 479,900,179.76 in the previous year[23]. - Basic and diluted earnings per share were CNY 0.93, reflecting an 18.42% decline from CNY 1.14 in 2022[24]. - The weighted average return on equity decreased to 21.72%, down 10.35 percentage points from 32.07% in 2022[24]. - The operating cost decreased by 13.14% to CNY 511,234,081.77, resulting in a gross profit margin of 52.58% for the chemical raw materials and chemical products manufacturing sector[45]. - Research and development expenses amounted to CNY 38,978,035.77, representing 3.66% of total operating revenue[52]. Assets and Liabilities - The total assets at the end of 2023 were CNY 1,941,704,269.90, an increase of 10.68% compared to CNY 1,754,392,289.92 at the end of 2022[23]. - The net assets attributable to shareholders increased to CNY 1,636,719,076.66, reflecting a growth of 12.01% from CNY 1,461,271,081.01 in 2022[23]. - Total liabilities increased to CNY 304,985,193.24 in 2023 from CNY 293,121,208.91 in 2022, representing a growth of about 4.8%[181]. - Owner's equity rose to CNY 1,636,719,076.66 in 2023, compared to CNY 1,461,271,081.01 in 2022, indicating an increase of approximately 12.0%[181]. Cash Flow - The net cash flow from operating activities for 2023 was ¥389,685,710.62, a decrease of 18.80% compared to ¥479,900,179.76 in 2022[55]. - The net cash flow from investing activities was -¥126,919,793.48, showing a slight increase in outflow of 1.85% from -¥124,608,645.68 in the previous year[55]. - The net cash flow from financing activities was -¥188,161,401.54, which represents an increase in outflow of 10.13% compared to -¥170,859,223.56 in 2022[55]. - Cash received from sales of goods and services decreased to CNY 944,193,831.27, down 16.4% from CNY 1,128,820,471.78 in 2022[199]. Production and Capacity - The company has over 40,000 tons/year of production capacity, making it the largest producer of isothiazolinone industrial biocides in Asia[39]. - The production volume of industrial fungicides was 35,877.37 tons, with a sales volume of 34,647.28 tons, reflecting a year-on-year increase of 9.25% in production and 7.67% in sales[46]. - The company completed the expansion project for OIT/DCOIT, increasing production capacity from "OIT 1200t/a or DCOIT 600t/a" to "OIT 1600t/a or DCOIT 1500t/a"[34]. Research and Development - The company obtained 4 authorized invention patents during the reporting period, enhancing its core competitiveness[33]. - The company has maintained a strong focus on research and development to drive innovation and improve product offerings[93]. - Research and development investments over the past three years were 40.03 million, 47.14 million, and 38.98 million RMB, representing 3.98%, 3.75%, and 3.66% of revenue respectively, indicating a consistent commitment to R&D[80]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential investment risks[6]. - The company has detailed various risks in the management discussion and analysis section of the report[7]. - The company faces environmental protection risks due to its classification as a heavily polluting industry, necessitating significant investment in environmental protection measures[84]. Governance and Management - The company has a strong focus on improving safety production training and enhancing internal control systems to mitigate safety production risks associated with hazardous chemicals[85]. - The company has maintained a consistent governance structure with ongoing roles for key individuals across various subsidiaries[95]. - The company’s governance situation is reported to be good and compliant with legal requirements[127]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 6.00 per 10 shares, totaling CNY 216,190,914.60, which represents 65.84% of the net profit attributable to ordinary shareholders in the consolidated financial statements[118]. - The company has established a cash dividend policy, committing to distribute at least 20% of the annual distributable profits as cash dividends when the audited net profit is positive and there are no major external investment plans or significant cash expenditures[115]. - The total number of shares held by the management team increased from 858,000 at the beginning of the year to 1,201,200 at the end of the year, representing a net increase of 343,200 shares[91]. Environmental Compliance - The company emphasized safety and environmental protection, ensuring compliance with national discharge standards[32]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[135]. - The company’s wastewater treatment facility at the Songmu Island subsidiary has a capacity of 2,160 tons per day, currently operating at 1,132 tons per day, meeting discharge standards[132].