On the evening of April 22nd, Huiyun Titanium Industry (300891) released its 2023 annual report that the company achieved operating income of 1.652 billion yuan last year, an increase of 9.22% over the same period last year, and a net profit of 41.038 million yuan, an increase of 189.59% over the same period last year. The company intends to distribute a cash dividend of 0.3 yuan (including tax) to all shareholders for every 10 shares.
Huiyun Titanium Industry is a modern fine chemical high-tech enterprise with independent R & D and innovation ability, which is mainly engaged in the research, development, production and sales of titanium dioxide products. the main products are rutile titanium dioxide, anatase titanium dioxide series products, ferrous sulfate and other related by-products. The company and Ye Hua Chemical are equipped with sulfuric acid production line, whose main products are sulfuric acid, steam and iron concentrate.
For the growth of net profit in 2023, Huiyun Titanium Industry said that in the face of the complex and changeable market, the company actively took measures to deal with it. The production and sales of titanium dioxide, the main products, increased year on year, and its operating performance increased for the whole year. The company actively develops the foreign market in China, adjusts the product structure, implements the "boutique" strategy, steadily improves product quality, strives to do a good job in after-sales service and customer satisfaction, and strengthens cost control with "reducing cost and increasing efficiency" as the starting point. Certain results have been achieved; some fund-raising projects have been put into operation, and the results of energy saving and consumption reduction have gradually emerged.
It is worth mentioning that the decline in raw materials is also an important reason behind the performance growth of Huiyun titanium industry. During the reporting period, the annual average prices of titanium concentrate, pyrite and sulfur, the company's main raw materials, decreased by 5.25%, 21.09% and 57.02% respectively compared with the previous year.
The company said that the main raw materials, such as titanium concentrate, sulfur and pyrite, are all bulk chemical raw materials, and the purchase price is mainly in line with the market, of which the average purchase price of raw material sulfur has dropped sharply compared with the previous year, mainly due to the continuous rise in international crude oil prices last year, which led to a sharp rise in the purchase price of sulfur in the previous period, and the price of sulfur gradually fell in 2023.
During the reporting period, Huiyun Titanium Industry has an annual production capacity of 80,000 tons of rutile titanium dioxide production line and anatase titanium dioxide production line (which can produce anatase titanium dioxide or rutile titanium dioxide) with an annual production capacity of 30,000 tons. By the end of the reporting period, the second phase of the company's 80,000 tons / year plastic rutile titanium dioxide post-treatment and expansion project has completed commissioning and will be officially put into production in 2024.
At present, the output scale of Huiyun titanium industry is in the upper-middle level in the industry, and the product quality is leading, especially in the field of plastic application, and has an important market share in some middle and high-end titanium dioxide application fields. The company continues to invest in R & D in new application areas and actively promote the construction of technological transformation and fund-raising projects. In the future, with the completion and use of the company's technical innovation and fund-raising projects, the company's production scale will gradually expand, and at the same time, it will develop and expand for new application areas to continuously enhance the company's core competitiveness.
In 2023, the R & D and technological transformation of Huiyun Titanium Industry focused on production expansion, quality improvement, cost reduction, safety and environmental protection, made sustained efforts in many aspects, and achieved remarkable results in many key technological transformation projects.
On the one hand, the production capacity of the second phase of the 80,000 tons / year plastic rutile titanium dioxide post-treatment and expansion project has been completed and debugged, which is helpful to increase the production capacity; at the same time, the company's other fund-raising and technical renovation projects are also moving forward in an orderly and steady manner. In addition, according to the market demand and the company's development goals, the company has actively carried out R & D and innovation, carried out the research and development of a number of new products and processes, and added an invention patent in 2023. By the end of the reporting period, the company has 8 invention patents and 14 utility model patents.
At present, Huiyun titanium has become a regional leading titanium dioxide enterprise with unique circular economy advantages. the company adheres to the principle of "reduction, reuse and resource utilization" and relies on the rich local pyrite resources in Yunfu city. closely combined with local cement, stone and other pillar industries, a complete "sulfur-titanium-iron-calcium" circular economy industry chain is formed to realize waste treatment and comprehensive utilization of resources. To improve economic benefits and positive environmental effects, it is China's "demonstration base of clean production of titanium dioxide by sulfuric acid process and circular economy industry chain".
With regard to the business plan for 2024, Huiyun Titanium Industry said that the company's 50kt/ annual transformation 80kt/ rutile titanium dioxide initial product technical renovation project and related supporting projects plan to be completed and put into production by the end of this year. After completion, the company's capacity deficiency will be made up, the product quality will continue to be on the basis of China's leading, and the company's production capacity will also be in the forefront of China. With the company's technological transformation and expansion of production, we need to actively open up new areas and new customers, and strive to develop a highly matched customer base, relying on product differentiation strategies such as "boutique strategy" and "personalized customization production".
