Group 1: Basic Information - The research object is Licheng Industry, belonging to the chemical products industry, and the reception time was May 15, 2025. The company's reception staff included the board secretary, CFO Zheng Gang, and the securities affairs representative Liu Zenghui [17] - The institution participating in the research is Caitong Securities [2] Group 2: Company Business and Performance - The company is based in the fine chemical field, with its main business being the R & D, production, and sales of surfactants and detergents. It has three production bases in Changsha, Shanghai, and Dongguan, with an annual surfactant production capacity of approximately 550,000 tons and an annual detergent production capacity of about 250,000 tons [22] - The anionic surfactant business is the company's main source of revenue and profit. In 2024, the company achieved an operating income of 3.377 billion yuan from surfactant products, a year - on - year increase of 12.68%, accounting for 92.23% of the company's operating income. The production and sales volume of the company's main surfactant products ranked among the top two in the country in 2024 [23] Group 3: Dividend Policy - In 2024, the company's profit distribution plan proposed to distribute cash dividends of 5.10 yuan per 10 shares (tax - included) based on the total share capital of 130,178,260 shares at the end of 2024, totaling 66,390,912.60 yuan. The remaining undistributed profits will be carried forward to the next year [25] - The company will formulate its profit distribution plan in accordance with the "Future Three - Year (2024 - 2026) Shareholder Return Plan" [26] Group 4: Incentive Expenses - According to the company's 2023 restricted stock incentive plan (draft revised version), the company's share - based payment expense amortization in 2024 was 33.17 million yuan, with management expenses accounting for 68.03% and sales expenses accounting for 25.09% [27] Group 5: Project Progress - The first phase of the 250,000 - ton new green surfactant production base and headquarters construction project of Shanghai Aowei entered the trial production stage in early May 2024. The second phase's 57,500 - ton new green surfactant production lines entered the trial production stage in late February and early April 2025 [28]
丽臣实业分析师会议-20250515