JIANGNAN CHEMICAL(002226)2024-03-22 16:00Financial Performance - The company's operating revenue for 2023 reached ¥8,894,763,055.52, representing a 13.75% increase compared to ¥7,819,351,629.44 in 2022[34]. - Net profit attributable to shareholders was ¥773,085,430.97, a significant increase of 61.48% from ¥478,744,157.35 in the previous year[34]. - The net profit after deducting non-recurring gains and losses was ¥792,102,719.80, up 10.33% from ¥717,956,119.23 in 2022[34]. - Basic and diluted earnings per share increased to ¥0.2918, up 61.48% from ¥0.1807 in 2022[34]. - The weighted average return on equity improved to 8.79%, an increase of 3.35% from 5.44% in the previous year[34]. - The company's total revenue for Q1 2023 was approximately ¥1.54 billion, with Q2 at ¥2.90 billion, Q3 at ¥2.04 billion, and Q4 at ¥2.42 billion, showing a significant increase in Q2[59]. - The net profit attributable to shareholders for Q2 2023 was approximately ¥397.39 million, while Q4 saw a decrease to ¥73.06 million, indicating fluctuations in profitability throughout the year[59]. - The engineering service revenue for 2023 amounted to approximately ¥4.72 billion, representing a year-on-year growth of 18.37%[70]. - In 2023, Jiangnan Chemical achieved a revenue of 8.895 billion yuan, a year-on-year increase of 13.75%, and a total profit of 1.231 billion yuan, up 36.04%[72]. Research and Development - The total R&D investment accounted for a significant change in the proportion of operating income compared to the previous year[2]. - The company is actively involved in new product and technology development, although specific details were not provided in the extracted content[2]. - Research and development expenses amounted to ¥228,381,305.49, with a significant increase in R&D personnel to 1,511, up 30.37% from the previous year[112][113]. - R&D investment in 2023 amounted to ¥228,381,305.49, an increase of 10.47% compared to ¥206,734,915.94 in 2022[130]. - R&D expenditure accounted for 2.57% of operating revenue in 2023, slightly down from 2.64% in 2022[130]. - The company’s R&D personnel with a master's degree increased by 64.21%, reflecting a commitment to enhancing its research capabilities[113]. Governance and Compliance - The company has a commitment to ensuring the accuracy and completeness of its financial reports, with all board members present for the review[22]. - The company has a strong governance structure, with a dedicated board and supervisory committee ensuring compliance and accountability[6]. - The company has implemented a comprehensive internal control system to enhance core competitiveness and governance capabilities[140]. - The internal control evaluation covered 100% of the company's consolidated financial statement assets and revenues[145]. - The internal control audit report received a standard unqualified opinion from the auditing firm[148]. - The company has established a comprehensive review of its governance in response to regulatory requirements, enhancing its governance standards to protect investor interests[149]. Risk Management - The company emphasizes the importance of risk awareness regarding market conditions and operational efforts affecting financial forecasts[7]. - The company has faced various risks, including safety risks, industry development risks, and market expansion risks[23]. - The company has undergone 665 government inspections, with all identified issues rectified, ensuring no major safety hazards were reported[104]. Environmental and Safety Initiatives - The company has implemented measures to comply with environmental protection laws and standards, ensuring all operations adhere to relevant regulations[156]. - Jiangnan Chemical has established a special budget for energy conservation and environmental protection to ensure the normal operation of pollution control facilities and implement rectifications for environmental inspection issues[168]. - The company organized 14 emergency drills for environmental incidents in 2023, with over 630 participants, enhancing emergency response capabilities[164]. - Jiangnan Chemical's pollution control measures have consistently met the execution standards set by relevant environmental regulations[168]. International Expansion - The company has expanded its international operations, establishing subsidiaries in Namibia and the Democratic Republic of Congo, and acquiring 60% of Serbia's RUDEX company to enter the European market[122]. - The company has expanded its business operations in the civil explosives sector across multiple provinces and internationally in countries such as Namibia and Serbia[45]. - The company has expanded its international business presence, engaging in strategic projects in countries along the "Belt and Road" initiative, enhancing its global footprint[70]. Financial Position - Total assets at the end of 2023 were ¥16,749,301,913.89, a slight increase of 0.98% from ¥16,587,269,866.60 in 2022[57]. - Net assets attributable to shareholders decreased by 3.66% to ¥8,715,268,582.81 from ¥9,046,239,520.69 in 2022[57]. - The net cash flow from operating activities decreased by 24.87% to ¥1,145,472,669.19 from ¥1,524,627,974.44 in 2022[34]. - The proportion of accounts receivable increased by 3.56% to 20.20% of total assets in 2023, compared to 16.64% in 2022[133]. Safety Management - Jiangnan Chemical's safety management system was enhanced with over 2,300 video monitoring connections, achieving full coverage of blasting operations[74]. - The company upgraded its safety production responsibility system and established multiple management standards to ensure effective operation[3]. - A significant explosion accident occurred at Xinjiang Tianhe Explosive Engineering Co., Ltd., resulting in 3 fatalities and direct economic losses of 7.055 million yuan[4].