QINGDA ENVIRONMENT(688501)2024-05-24 11:38Financial Performance - The net profit attributable to shareholders for 2023 is RMB 86,680,046.32, with a total distributable profit of RMB 349,217,138.40[5]. - The proposed cash dividend is RMB 2.20 per 10 shares (including tax), totaling RMB 27,075,620.00, which accounts for 31.24% of the net profit attributable to shareholders[5]. - The company's total revenue for 2023 reached CNY 1,029,232,280.95, representing a 35.04% increase compared to CNY 762,155,555.06 in 2022[23]. - Net profit attributable to shareholders for 2023 was CNY 86,680,046.32, a significant increase of 48.02% from CNY 58,561,229.84 in 2022[23]. - Basic earnings per share for 2023 were CNY 0.70, up 45.83% from CNY 0.48 in 2022[25]. - The company's total assets increased by 14.17% to CNY 1,926,487,881.40 in 2023, compared to CNY 1,687,391,628.86 in 2022[24]. - The weighted average return on equity for 2023 was 10.33%, an increase of 2.89 percentage points from 7.44% in 2022[25]. - The company reported a net cash flow from operating activities of CNY 141,360.11 for 2023, a recovery from a negative cash flow of CNY -41,791,723.51 in 2022[23]. Corporate Governance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[5]. - The board of directors has approved the profit distribution plan during the 26th meeting of the fourth board session on April 15, 2024[5]. - There are no non-operational fund occupations by controlling shareholders or related parties[9]. - The company has not violated any decision-making procedures for providing guarantees[9]. - The company has no special arrangements for corporate governance[7]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making or operational activities[148]. - The company’s governance structure complies with relevant laws and regulations, with no significant discrepancies noted[149]. Research and Development - Research and development expenses accounted for 4.93% of total revenue in 2023, an increase from 4.29% in 2022[25]. - The company increased its R&D investment to ¥50,706,682.60 in 2023, a 55.25% increase compared to ¥32,661,030.50 in the previous year[72]. - R&D investment accounted for 4.93% of total revenue, up from 4.29%, representing an increase of 0.64 percentage points[72]. - The company applied for 32 new invention patents and 10 utility model patents during the reporting period, with a total of 39 invention patents and 132 utility model patents accumulated by the end of 2023[70]. - The company received 8 authorized invention patents and 33 authorized utility model patents in 2023, contributing to a total of 275 authorized patents across various categories[71]. - The company is committed to promoting energy-saving and emission-reduction technologies in line with national policies, demonstrating significant application value[75]. Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22]. - The company aims to enhance its product offerings and explore potential mergers and acquisitions to strengthen its competitive position[22]. - The company is focused on expanding its market presence in non-electric sectors, which may be hindered by changes in government policies regarding energy conservation and emissions reduction[91]. - The company is actively pursuing research and development in new technologies to improve boiler performance and reduce environmental impact[12]. - The company aims to achieve a balance between production and sales through lean management practices, optimizing the entire value chain of order delivery[142]. Risks and Challenges - The company has not faced any significant risks that could materially impact its operations during the reporting period[4]. - The company faces risks from raw material price fluctuations, as raw material costs significantly affect overall production costs and profit margins[89]. - The company is exposed to macroeconomic risks, including foreign exchange fluctuations that could adversely affect its financial performance due to international transactions[93]. - The company reported accounts receivable of CNY 611.40 million and contract assets of CNY 161.25 million as of the end of 2023, indicating potential risks related to bad debts[90]. Employee and Management - The company has a total of 997 employees, with 763 in the parent company and 234 in major subsidiaries[180]. - The employee composition includes 382 production personnel, 124 sales personnel, 279 technical personnel, 21 financial personnel, and 191 administrative personnel[180]. - The company has established a comprehensive welfare system, providing benefits beyond statutory social insurance, including holiday benefits, supplementary medical insurance, and annual health check-ups[182]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 800.85 million RMB[169]. - The company plans to implement a restricted stock incentive plan for 2023, with proposals approved on October 31, 2023[170]. Technological Innovations - The company introduced innovative technologies, including a dual-isolation phase change smoke gas deep cooling equipment, which won the "First Set of Technology Equipment" award in Shandong Province[35]. - The company has developed a zero discharge system for desulfurization wastewater, focusing on cost-effective solutions for high-salinity wastewater treatment[44]. - The company is actively advancing hydrogen energy technology, including hydrogen production and storage systems, to seize opportunities in the hydrogen equipment development sector[61]. - The company has developed a high thermal conductivity modified PPS heat exchanger that effectively recovers waste heat from heating furnace flue gases, achieving energy savings[59]. - The integration of artificial intelligence in the boiler combustion optimization system enhances combustion efficiency and reduces NOx emissions through automatic adjustments[67]. Financial Management - The company has implemented a comprehensive budget management system to enhance financial management and support its second entrepreneurial goal[36]. - The total operating cost for the company was ¥682,292,889.48, reflecting a cost management strategy that maintained profitability despite revenue growth[101]. - The company reported a significant increase in technical service-related direct labor costs, rising by 143.13% to 11.99 million RMB from 4.93 million RMB in the previous year[108]. - The company’s cash and cash equivalents were reported at 67,680,063.15 RMB, with various restrictions on these funds due to guarantees and government subsidies[127]. Shareholder Relations - The company has established a cash dividend policy that protects the rights of minority investors, with no adjustments made during the reporting period[186]. - The company has maintained a clear and transparent decision-making process regarding profit distribution, ensuring compliance with relevant laws and regulations[186]. - The company held 3 shareholder meetings during the reporting period, with all resolutions passed and no proposals rejected[152].