CZDH(600230)2023-04-26 16:00Financial Performance - In 2022, the company achieved a net profit of CNY 418,824,886.08, with a total distributable profit of CNY 2,688,113,124.24 after accounting for previous distributions[6]. - The company's operating revenue for 2022 was CNY 4,913,578,828.66, representing a 62.27% increase compared to CNY 3,028,060,341.51 in 2021[24]. - Basic earnings per share for 2022 were CNY 1.0206, a significant recovery from a loss of CNY 0.0783 in 2021[25]. - The company's total assets at the end of 2022 were CNY 7,047,755,800.94, reflecting a 2.14% increase from CNY 6,900,043,698.20 in 2021[24]. - The weighted average return on equity for 2022 was 10.63%, a notable improvement from -0.91% in the previous year[26]. - The net profit attributable to shareholders for the year was RMB 420.1 million, with quarterly profits of RMB 97.70 million, RMB 61.67 million, RMB 32.42 million, and RMB 228.31 million[28]. - The company reported a total cost of CNY 4.07 billion, which is a 48.57% increase from the previous year's CNY 2.74 billion[55]. Cash Flow and Dividends - The company plans to distribute a cash dividend of CNY 3.02 per 10 shares, totaling CNY 126,343,452.20[6]. - The net cash flow from operating activities for 2022 was CNY 527,865,094.83, up 184.58% from CNY 185,491,200.22 in 2021[24]. - The net cash flow from operating activities increased to ¥527.87 million in 2022, up from ¥185.49 million in 2021, a growth of 187.5%[65]. - The net cash flow from investing activities improved significantly, with a reduction in outflow to -¥401.19 million in 2022 from -¥1.18 billion in 2021, a decrease of 65.9%[65]. - The net cash flow from financing activities decreased to -¥126.06 million in 2022, compared to an inflow of ¥195.12 million in 2021, a change of 164.6%[65]. Production and Sales - TDI production reached 168,269.29 tons, a 25.85% increase year-over-year, with sales of 169,805.63 tons, up 17.94%[44]. - The company produced 520,768.19 tons of ion membrane caustic soda, a 7.47% increase, but sales decreased by 12.19% to 345,196.75 tons[44]. - PC product production surged to 94,017.27 tons, a 146.79% increase, while sales rose by 178.23% to 89,732.59 tons[45]. - The company’s TDI product line generated a revenue of 2,722,544,917.60 RMB, with a gross margin of 14.36%[51]. - The ion membrane caustic soda segment achieved a gross margin of 52.81% with a revenue of 347,191,912.54 RMB[51]. Research and Development - The company invested significantly in R&D, with expenses increasing by 264.75% to 81,837,047.51 RMB[47]. - The total R&D expenditure for the year was CNY 81.84 million, representing 1.67% of total revenue, with a significant increase of CNY 59.40 million compared to the previous year[62][60]. - The company is in the process of establishing a national-level isocyanate innovation platform, enhancing its R&D capabilities[80]. Market and Competitive Position - The company aims to maximize profits by reducing sales expenses and focusing on high-margin regional sales, adhering to a customer-centric approach[35]. - The domestic TDI product market saw a significant price increase, with overall prices at a relatively high level due to supply constraints and increased demand[34]. - The company is actively expanding its market presence by developing small and medium-sized customers and diversifying its product offerings to meet specific market demands[36]. - The company plans to enhance its product quality and optimize production processes to maintain competitiveness in the TDI and PC markets[39]. Environmental and Social Responsibility - The company is committed to environmental protection, ensuring that all pollutants meet government standards, and plans to invest further in environmental facilities and monitoring systems[108]. - The company has invested a total of 60.82 million yuan in poverty alleviation and rural revitalization projects, specifically supporting educational initiatives for children in assisted areas[172]. - The company has established a carbon peak and carbon neutrality leadership group to oversee energy-saving and low-carbon management efforts[170]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintains transparency in its operations[110]. - The board of directors operates in accordance with the company's articles of association, ensuring fair and reasonable related party transactions without harming minority shareholders' interests[111]. - The company has established a robust internal control system to ensure compliance and effective governance practices[111]. - The company is committed to timely information disclosure regarding its subsidiaries' financial status and operations[153]. Related Party Transactions - The company has committed to reducing related party transactions and ensuring fair pricing in its dealings with related parties[176]. - The total planned amount for related party procurement in 2022 was CNY 650,000, while the actual amount was CNY 1,740,300, representing a significant increase of 168.9%[193]. - The total planned amount for related party sales in 2022 was CNY 22,600,100, with actual sales reaching CNY 53,757,000, indicating an increase of 137.5%[193].