Company Overview - Jiangsu Sinonics Precision Alloy Co., Ltd. became the first A-share listed company in the domestic nickel conductor materials industry on November 11, 2022[5]. - The company was established on June 5, 2006, and listed on the Beijing Stock Exchange on November 11, 2022[22]. - The company operates in the manufacturing sector, specifically in the electronic components manufacturing industry[22]. - The company focuses on the research, production, and sales of precision nickel-based conductor materials for batteries, with a competitive market landscape due to numerous small and medium-sized enterprises[12]. Financial Performance - The company's operating revenue for 2022 was 90,561.22 million yuan, a slight increase from 90,005.09 million yuan in 2021[12]. - The net profit attributable to shareholders for 2022 was 5,652.50 million yuan, down from 8,104.88 million yuan in 2021, indicating a decline of approximately 30.2%[12]. - The gross profit margin decreased to 14.14% in 2022 from 19.09% in 2021[28]. - The basic earnings per share dropped to 0.69 in 2022, down 38.39% from 1.12 in 2021[28]. - The weighted average return on net assets based on net profit attributable to shareholders was 10.60% in 2022, down from 20.98% in 2021[28]. - The company reported a current ratio of 8.50, up 140.11% from 3.54 in 2021[30]. - The interest coverage ratio was 17.97, down from 25.71 in 2021[32]. - The net asset per share increased by 45.47% to ¥8.67 from ¥5.96 in 2021[30]. - Operating cash flow decreased by 35.46% to ¥10,090,786.18 from ¥15,634,283.00 in 2021[32]. - The company reported a significant decrease in financial expenses by 43.13% in 2022, attributed to increased interest income and foreign exchange gains[62]. Research and Development - The company received 12 utility model patents from the National Intellectual Property Administration in 2022, bringing the total to 85 patents, including 9 invention patents[5]. - R&D expenditure for the current period was CNY 31.4022 million, accounting for 3.47% of operating revenue, slightly up from 3.42% in the previous year[91]. - The total number of R&D personnel decreased from 70 to 65, with the proportion of R&D staff to total employees slightly declining from 13.95% to 13.04%[92]. - The company is developing new technologies in energy storage systems and precision structural components, which are expected to enhance market competitiveness[94]. - The company emphasizes R&D investment, particularly in new energy power batteries and energy storage batteries, to maintain its competitive edge[123]. Market and Competitive Landscape - The company faces risks related to raw material price fluctuations, particularly for nickel plates, which are influenced by international market conditions[11]. - Future product development and market expansion are critical as the company aims to maintain its competitive edge amid rapid technological advancements in battery applications[12]. - The company has identified risks associated with high supplier concentration and the need for timely responses to market demands and technological changes[12]. - The company is focusing on the rapid development of the new energy and energy storage industries, with plans for continuous new product development to meet customer needs[114]. - The company is actively pursuing market expansion and product development strategies to enhance its competitive position in the industry[94]. Supplier and Customer Relations - The company sourced 59,025.24 million yuan from its top five suppliers, accounting for 83.70% of total procurement, highlighting a high supplier concentration risk[12]. - The company has not disclosed specific names of major customers and suppliers to protect business secrets, opting instead for a ranking format[10]. - The company emphasizes the importance of long-term partnerships with upstream suppliers, which typically require a certification period of 1-3 years[111]. Corporate Governance and Shareholder Information - The company has a total of 19,846 ordinary shareholders as of the reporting date[164]. - The largest shareholder, Yixing Xinyuan Hang Co., Ltd., holds 37,550,250 shares, representing 37.55% of the total shares[166]. - The company’s management has committed to maintaining profit distribution policies, ensuring shareholder returns[156]. - The company has not experienced any violations of commitments during the reporting period[157]. - The company has made important commitments regarding the stabilization of its stock price, which is currently being implemented[153]. Social Responsibility - The company has made donations of 50,000 yuan to local charities, demonstrating its commitment to social responsibility[107]. Employee Management - The total number of employees decreased from 537 to 466, a reduction of 71 employees, with significant losses in production personnel[198]. - The company has a total of 59 administrative staff, 301 production staff, 32 sales staff, and 65 technical staff at the end of the reporting period[196]. - Employee compensation consists of base salary, skill wages, various allowances, and bonuses[200]. - The company adheres to a full labor contract system and provides various insurance benefits for employees, including pension and medical insurance[200].

Financial Performance - The company's operating revenue for 2022 was CNY 905,070,229.09, a slight increase of 0.56% compared to CNY 900,050,882.84 in the previous year[4] - Net profit attributable to shareholders decreased by 39.08% to CNY 51,377,502.49 from CNY 84,334,649.35 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 54,451,154.15, down 32.82% from CNY 81,048,799.11 in the previous year[4] - Basic earnings per share fell by 40.18% to CNY 0.67 from CNY 1.12 in the previous year[4] Assets and Equity - Total assets increased by 67.11% to CNY 978,104,533.88 from CNY 585,307,108.29 year-on-year[4] - Shareholders' equity attributable to the company rose by 93.49% to CNY 865,547,894.03 from CNY 447,325,013.15[4] - The company's share capital increased by 33.33% to CNY 100,000,000 from CNY 75,000,000[4] - The net asset value per share attributable to shareholders increased by 45.30% to CNY 8.66 from CNY 5.96 year-on-year[4] Challenges and Changes - The decline in net profit was primarily due to the impact of COVID-19 on the supply chain and increased raw material costs, particularly nickel[7] - The company issued 25 million new shares in November 2022, which diluted earnings per share[7]