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森松国际(02155)发布2023年度业绩 股东应占溢利8.45亿元 同比增加26.21%
Zhi Tong Cai Jing· 2024-03-28 08:46
智通财经APP讯,森松国际(02155)发布截至2023年12月31日止年度业绩,该集团期内取得收益73.6亿元 (人民币,下同),同比增加13.47%;公司权益股东应占溢利8.45亿元,同比增加26.21%;每股基本盈利0.73 元。 公告称,集团的毛利由截至2022年12月31日止年度的约17.93亿元增长约14.6%至截至2023年12月31日止 年度的约20.56亿元,增幅略高于收益。得益于集团总体运营效率的提升,截至2023年12月31日止年 度,集团毛利率约为27.9%,与截至2022年12月31日止年度相比基本维持稳定。 集团的研发开支由截至2022年12月31日止年度的约3.16亿元增长约32.3%至截至2023年12月31日止年度 的约4.18亿元,主要原因是集团持续增加对新领域、新产品及新工艺的人力、物力投入,以增强核心竞 争力。截至2023年12月31日止年度,研发开支占集团总收益的约5.7%(2022年同期:4.9%)。 ...
森松国际(02155) - 2023 - 年度业绩
2024-03-28 08:30
Revenue and Profit Growth - Revenue for 2023 reached RMB 7,360,262,000, a 13.5% increase from RMB 6,486,277,000 in 2022[2] - Gross profit increased to RMB 2,055,704,000 in 2023, up 14.6% from RMB 1,793,386,000 in 2022[2] - Net profit rose to RMB 842,548,000 in 2023, a 26.5% increase from RMB 666,182,000 in 2022[2] - Total revenue for 2023 reached RMB 7,360,262 thousand, an increase from RMB 6,486,277 thousand in 2022[15] - Revenue increased by 13.5% from approximately RMB 6,486,277 thousand in 2022 to approximately RMB 7,360,262 thousand in 2023, driven by a large order in the oil refining industry[84] - Gross profit grew by 14.6% from approximately RMB 1,793,386 thousand in 2022 to approximately RMB 2,055,704 thousand in 2023, with a stable gross margin of 27.9%[89] - Net profit increased by 26.5% to RMB 842,548 thousand, with a net profit margin of 11.4%, up from 10.3% in 2022[103] - Adjusted EBITDA for the year ended December 31, 2023, was approximately RMB 1,143,066 thousand, a 28.3% increase from RMB 890,682 thousand in 2022[105][106] New Orders and Business Segments - Newly signed orders amounted to RMB 7,784,856,000 in 2023, a decrease of 16.8% from RMB 9,355,794,000 in 2022[2] - Revenue from modular pressure equipment grew significantly to RMB 4,553,792 thousand in 2023, up from RMB 3,648,656 thousand in 2022[15] - The company's new order intake for the pharmaceutical and biopharmaceutical sector accounted for 33.47% of total new orders, with a value of RMB 2,605,267 thousand[68] - The chemical industry contributed 21.42% to the company's new order intake, amounting to RMB 1,667,796 thousand[68] - The electronic chemicals sector represented 14.95% of new orders, with a value of RMB 1,164,186 thousand[68] - The company's total new order intake for the year reached RMB 7,784,856 thousand, with the pharmaceutical and biopharmaceutical sector being the largest contributor[68] - The pharmaceutical and biopharmaceutical sector contributed RMB 2,228,092 thousand, accounting for 30.3% of total revenue, with a year-on-year increase of 3.4%[85] - The oil refining sector saw a significant revenue increase of 502.9%, contributing RMB 971,601 thousand, up from RMB 161,158 thousand in 2022[85] Financial Position and Assets - Total assets minus current liabilities increased to RMB 4,661,063,000 in 2023 from RMB 3,081,176,000 in 2022[7] - Cash and cash equivalents stood at RMB 2,168,682,000 in 2023, a 58.2% increase from RMB 1,370,359,000 in 2022[7] - Property, plant, and equipment grew to RMB 2,105,463,000 in 2023, up 30.8% from RMB 1,609,565,000 in 2022[6] - Equity attributable to shareholders of the company increased to RMB 4,382,491,000 in 2023 from RMB 2,815,730,000 in 2022[9] - Total equity rose to RMB 4,390,609,000 in 2023, a 55.5% increase from RMB 2,822,646,000 in 2022[9] - The company's total equity increased from RMB 990.669 million at the beginning of 2022 to RMB 2,093.434 million by the end of 2023, reflecting significant growth in capital and reserves[52] - Property, plant, and equipment increased by 30.8% to RMB 2,105,463 thousand as of December 31, 2023, driven by construction investments in the Suzhou manufacturing base[107] - Trade and other receivables grew by 28.6% to RMB 1,499,372 thousand as of December 31, 2023, due to increased revenue[108] - Inventory decreased by 18.7% to RMB 1,800,466 thousand as of December 31, 2023, as large orders were in the early design phase[109] - Contract liabilities decreased by 20.8% to RMB 2,290,334 thousand as of December 31, 2023, due to revenue recognition from 2022 orders and new 2023 orders not yet reaching payment milestones[110] - Total borrowings decreased by 17.8% to RMB 365,083 thousand as of December 31, 2023, with a debt-to-equity ratio dropping to 8.3% from 15.7% in 2022[111] - Cash and cash equivalents increased by RMB 798,323 thousand to RMB 2,168,682 thousand as of December 31, 2023[112] Costs and Expenses - Employee benefits and salaries increased to RMB 1,128,338 thousand in 2023, compared to RMB 857,619 thousand in 2022[23] - R&D costs increased to RMB 418.149 million in 2023, up from RMB 316.084 million in 2022, with employee costs accounting for RMB 194.026 million (2022: RMB 155.469 million)[25] - Inventory costs rose to RMB 5.304 billion in 2023, compared to RMB 4.692 billion in 2022, including employee costs of RMB 628.22 million (2022: RMB 538.824 million)[26] - Depreciation expenses for property, plant, and equipment increased to RMB 116.263 million in 2023 from RMB 89.668 million in 2022[25] - Current tax provision for the year amounted to RMB 126.422 million in 2023, up from RMB 96.623 million in 2022[27] - Deferred tax liabilities increased to RMB 15.364 million in 2023, compared to a reversal of RMB 1.888 million in 2022[27] - R&D expenses grew by 32.3% to RMB 418,149 thousand, accounting for 5.7% of total revenue, up from 4.9% in 2022[100] - Sales and marketing expenses decreased by 5.0% to RMB 175,228 thousand, accounting for 2.4% of total revenue, down from 2.8% in 2022[98] - General and administrative expenses rose by 6.4% to RMB 543,143 thousand, accounting for 7.4% of total revenue, down from 7.9% in 2022[99] - Income tax expenses surged by 49.7% to RMB 141,786 thousand, with an effective tax rate of 14.4%, up from 12.5% in 2022[102] International Business and Market Expansion - Revenue from the North American market increased to RMB 863,532 thousand in 2023, compared to RMB 515,899 thousand in 2022[20] - Revenue from Asia (excluding Mainland China) rose to RMB 1,824,800 thousand in 2023, up from RMB 1,007,267 thousand in 2022[20] - The company's overseas business exceeded expectations, with a rebound in demand, leading to confidence in steady growth for 2024 despite a slowdown in new order intake[70] - The company established Pharmadule Singapore with a registered capital of SGD 3,000,000 to support life sciences business expansion in Southeast Asia[114] - Morimatsu Singapore acquired 100% of Morimatsu T&S, which has a registered capital of JPY 100 million, to support energy materials business[115] - Lifesciences Singapore was established with a registered capital of SGD 300,000 to support overseas expansion of the life sciences business[115] - The company directly retains 51% of the shares and gains control of the joint venture, Morimatsu Dialog, to strengthen management synergy[116] - The subsidiary, Morimatsu Engineering, acquired 100% equity of Shandong Keda Chemical Engineering Co., Ltd[116] - Morimatsu T&S subscribed to 140,056 preferred shares of 3DC Corporation for a total of 49,999,992 JPY, holding 2.82% equity post-subscription[116] - The company established a new wholly-owned subsidiary, Morimatsu International Investment Limited (MII), with a registered capital of 10,000 HKD[117] Projects and Innovations - The company secured a contract for a biofuel modular plant project, expected to process 200,000 tons of non-recyclable waste annually and produce 125 million liters of biofuel and renewable chemicals[73] - The company successfully delivered core equipment for a biofuel project, contributing to the production of sustainable aviation fuel and biogas from waste materials[74] - The company signed a contract for a battery raw materials project, marking the first overseas deployment of its lithium hexafluorophosphate technology[75] - The company completed the delivery of a ternary cathode material project, advancing new kiln technology in the lithium battery industry[75] - The company delivered a refinery expansion project, including 150 core equipment units and 100 modules, marking its largest refinery project order from the client[76] - The company signed a contract for a 40,000-ton/year ethylene acrylic acid (EAA) plant, breaking the monopoly of ultra-high-pressure equipment manufacturing in Europe and the US[77] - The company successfully shipped a customized molten salt reaction system, achieving domestic substitution and showcasing its capabilities as a comprehensive solution provider[77] - The company delivered the world's largest injection-grade recombinant human albumin fermentation system, capable of producing approximately 100 tons annually[79] - A modular pharmaceutical factory project for an international pharmaceutical company was successfully shipped, covering a total construction area of approximately 5,000 square meters[79] - The Malaysia manufacturing base expansion project, with an investment of approximately USD 60 million, focuses on producing equipment for electric vehicle raw materials, semiconductors, and green energy[82] - The Changshu manufacturing base, covering approximately 130,000 square meters, was fully delivered in Q4 2023 and is ready for production, targeting the biopharmaceutical and high-purity industries[83] - The company successfully delivered a plastic recycling project for an international client, utilizing chemical recycling to produce high-purity food-grade PET[80] - The Malaysia manufacturing base achieved a milestone with the first module project shipment for high-purity sulfuric acid used in large-scale integrated circuits[81] Corporate Governance and Shareholder Information - The company's Chinese subsidiaries benefit from a preferential tax rate of 15% due to their high-tech enterprise status[32] - The company recognized a deferred tax liability of RMB 14.921 million for a 10% withholding tax on dividends of RMB 150 million to be distributed by a subsidiary[33] - Basic earnings per share increased to RMB 0.726 in 2023, calculated based on a net profit of RMB 844.684 million and 1.163 billion weighted average shares[35] - The company's subsidiaries in Sweden, the US, India, Japan, Italy, and Mexico are subject to corporate tax rates ranging from 20.6% to 33.58%[29][30] - The company's subsidiaries in Singapore are subject to a 17% corporate tax rate, but no provision was made as they had no taxable income in 2023[31] - Weighted average number of shares increased from 1,050,774,000 in 2022 to 1,163,300,000 in 2023[36] - Diluted earnings per share calculated based on a profit attributable to shareholders of RMB 844,684,000 in 2023, up from RMB 669,266,000 in 2022[37] - The company did not declare or approve any dividends for the years ending December 31, 2022, and 2023[58] - The board proposed a final dividend of HKD 0.1 per share for the year ended December 31, 2023, subject to shareholder approval[119] - The company will hold its Annual General Meeting on June 18, 2024, and will suspend share registration from June 13 to June 18, 2024[120] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[121] - The company has complied with the Corporate Governance Code and has not deviated from its provisions during the reporting period[122] - The company has appointed KPMG as its auditor for the reporting period and will propose its reappointment at the Annual General Meeting[125] Other Financial Metrics - The company's remaining performance obligations as of December 31, 2023, amounted to RMB 9,077,735 thousand, indicating future revenue to be recognized over the next 12 to 36 months[18] - Government grants increased significantly to RMB 28,090 thousand in 2023, compared to RMB 3,306 thousand in 2022[22] - Interest income rose to RMB 59,765 thousand in 2023, up from RMB 15,259 thousand in 2022[22] - The company's financial costs decreased to RMB 13,291 thousand in 2023, down from RMB 15,951 thousand in 2022[23] - Contract assets increased to RMB 866,310,000 in 2023 from RMB 830,927,000 in 2022[40] - Trade and other payables increased to RMB 1,669,850,000 in 2023 from RMB 1,633,543,000 in 2022[49] - Trade payables aged within three months decreased to RMB 761,296,000 in 2023 from RMB 1,005,728,000 in 2022[50] - The exchange reserve increased by RMB 25.531 million in 2023, compared to an increase of RMB 615,000 in 2022[52] - The company's share capital increased from RMB 643.657 million at the beginning of 2023 to RMB 1,302.751 million by the end of the year, driven by share issuances and exercises of share options[53] - The capital reserve increased by RMB 36.221 million in 2023, primarily due to equity-settled share-based payments[52] - The company's total equity changes in 2023 amounted to RMB 919.194 million, driven by net profit, share issuances, and other comprehensive income[52] - The company's financial assets are categorized into three levels of fair value measurement: Level 1 (active market quotes), Level 2 (observable inputs without significant unobservable inputs), and Level 3 (significant unobservable inputs)[62] - As of December 31, 2023, the fair value of Level 2 forward foreign exchange contracts is estimated based on the current forward prices from the Bank of China[65] - The company invested RMB 10,000,000 to acquire a 1.75% equity stake in Quanxin Quanyi (Shanghai) Life Technology Co., Ltd., classified as a financial asset at fair value through profit or loss[66] - The cost of treasury shares repurchased for equity-settled share-based payments in 2023 was RMB 37.110 million, slightly higher than the RMB 36.581 million in 2022[55] - A total of 9,327,555 restricted share units were vested and exercised in 2023, with a value of RMB 34.056 million[56] - The company issued 80 million shares in 2023, raising RMB 567.206 million in net proceeds[54] - As of December 31, 2023, the company had nearly 4,500 employees, including over 650 R&D personnel, accounting for more than 14% of the total workforce[118]
森松国际(02155) - 2023 - 中期财报
2023-09-22 08:34
Financial Performance - Morimatsu International Holdings reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a growth of 15% year-over-year[2]. - The company reported a significant increase in demand for its services due to the rising need for environmentally friendly materials and sustainable energy solutions[11]. - The company's operating revenue for the reporting period was approximately RMB 3,691.76 million, a year-on-year increase of about 24.5%[27]. - The net profit attributable to the parent company was approximately RMB 422.35 million, a year-on-year increase of about 39.5%[27]. - Total revenue for the six months ended June 30, 2023, was approximately RMB 3,691,759 thousand, representing a year-on-year increase of 24.5% compared to RMB 2,964,865 thousand in the same period of 2022[39]. - The gross profit for the six months ended June 30, 2023, was approximately RMB 1,009,092 thousand, reflecting a growth of 28.0% from RMB 788,424 thousand in the same period of 2022, with a gross margin of 27.3%[43]. - Net profit for the six months ended June 30, 2023, was approximately RMB 421,029 thousand, a year-on-year increase of 39.2% from RMB 302,536 thousand, resulting in a net profit margin of 11.4%[49]. - The company reported a significant increase in the oil and gas refining segment, with revenue rising by 187.5% to RMB 221,536 thousand[39]. - The electronic chemicals segment saw significant growth, with revenue increasing by 141.0% to RMB 657,367 thousand, up from RMB 272,742 thousand in the previous year[39]. Market Expansion and Strategy - Morimatsu plans to enter the Southeast Asian market, targeting a market share of 10% within the next three years[2]. - The company is actively pursuing market expansion opportunities in the Asia-Pacific region, particularly in Malaysia and China[9]. - The company aims to enhance its global supply chain partnerships through a structured process that can take up to 10 years to achieve strategic cooperation[18]. - The company is exploring strategic partnerships and acquisitions to enhance its technological capabilities and market presence[11]. - The company has established subsidiaries in China and Malaysia to enhance its operational capabilities and market reach[9]. - The company has launched a new line of electronic chemicals, contributing to 5% of total revenue in the last quarter[2]. Research and Development - The company is investing HKD 200 million in R&D for new biopharmaceutical technologies, aiming to enhance its product offerings in the next two years[2]. - The company has established joint laboratories with downstream enterprises and collaborated with renowned universities to enhance R&D capabilities in various fields, including advanced manufacturing and biopharmaceutical technologies[34]. - Research and development expenses increased by 15.5% to approximately RMB 168,090 thousand, driven by an increase in R&D personnel and investment in new energy and energy-saving technologies[47]. - New product development teams have been successfully established, focusing on disposable bioreactor technology, which has already generated revenue[34]. Operational Efficiency - Morimatsu is implementing a digital operation strategy, projected to reduce operational costs by 15% over the next year[2]. - The firm reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[2]. - The company's digital operation and maintenance platform allows for real-time tracking of product performance and operational conditions, facilitating timely maintenance and technical improvements[17]. - The systematic solutions enhance the reliability of core equipment design and manufacturing, as well as project execution in various regions, strengthening the company's competitive advantage[13]. Financial Position and Investments - The company’s total equity attributable to shareholders increased to RMB 3,924,932 thousand from RMB 2,815,730 thousand at the end of 2022, indicating strong growth in shareholder value[106]. - Cash and cash equivalents increased by approximately RMB 561,946,000 to RMB 1,932,305,000 as of June 30, 2023, compared to RMB 1,370,359,000 as of December 31, 2022[55]. - The company plans to utilize the net proceeds primarily for capital investments in manufacturing facilities in Suzhou, China, and Malaysia, as well as for market expansion into Europe[58]. - The company has utilized approximately 60% of the net proceeds from its IPO for capacity enhancement and modular manufacturing capabilities, totaling HKD 412,014,000[66]. Corporate Governance and Shareholder Matters - The company has adopted and complied with the corporate governance code as per the listing rules during the reporting period[93]. - The company has not declared any interim dividends for the six months ending June 30, 2023[64]. - Major shareholder, Morimatsu Holdings, holds 750,000,000 shares, accounting for 63.54% of the total issued share capital as of June 30, 2023[97]. - The company has maintained a public float of no less than 25% of its issued shares since its listing[64].
森松国际(02155) - 2023 Q2 - 业绩电话会
2023-08-22 11:00
[0 -> 22] 大家好欢迎参加三松国际2023年中期业绩发表会目前所有参会者均处于静音发牌下面开始播报免责声明本次会议仅服务于参会的广大投资者 [23 -> 41] 关于音频及文字记录的内容仅供参会者内部使用不得公开发布深松国际未授权任何媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权深松国际将保留追究其法律责任的权利 [41 -> 66] 森松国际不承担因转载转发而产生的任何损失和责任市场有风险投资需谨慎提醒广大投资者谨慎做出投资决策在主讲嘉宾发言结束后将留体问时间有请现场主持人诸位投资人诸位券商的分析师老师大家晚上好我是森松国际的邵叶 [66 -> 95] 非常感谢诸位在百忙之中抽出时间参加我们今天的业绩交流会也非常感谢大家对森松国际的关注特别是感谢我们的券商合作伙伴在各种场合对森松国际的推荐和支持从今年开始是公司上市的第三年我们也请诸位给予我们更多的关注和教育让森松国际始终有机会和大家保持沟通也欢迎诸位共同见证我们的发展与成长 [96 -> 124] 首先请允许我向诸位介绍今天与会的管理层成员首先是执行董事森松国际高级副总裁材料与能源板块负责人盛燕盛总森松国际副总高级副总裁陆伟峰陆总森松国际 ...
森松国际(02155) - 2023 - 中期业绩
2023-08-22 09:05
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確 性或完整性亦不發表任何聲明,並明確表示,概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Morimatsu International Holdings Company Limited 森松國際控股有限公司 (於 香 港 註 冊 成 立 的 有 限 公 司) (股 份 代 號:2155) 截至2023年6月30日止六個月的中期業績公告 森松國際控股有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然向本公司 股東公布本公司及其附屬公司(統稱「本集團」)截至2023年6月30日止六個月(「中 期期間」或「報告期」)的未經審核綜合中期業績。 | --- | --- | --- | |------------------------------------------|-------------------------------------------|-------------------------------------| | | | | | | | | | | 截至 6 月 30 ...
森松国际(02155) - 2022 - 年度财报
2023-04-27 08:38
Financial Performance - The company's sales revenue reached approximately RMB 6.486 billion, representing a year-on-year growth of about 51.33%[7] - Gross profit amounted to approximately RMB 1.793 billion, with a year-on-year increase of approximately 51.52%[7] - Net profit was approximately RMB 666 million, reflecting a year-on-year growth of approximately 74.47%[7] - Revenue for 2022 reached RMB 6,486,277 thousand, a significant increase of 51.5% compared to RMB 4,286,222 thousand in 2021[28] - Net profit attributable to equity shareholders for 2022 was RMB 669,266 thousand, an increase of 75.2% compared to RMB 381,838 thousand in 2021[28] - The adjusted EBITDA for the reporting period was approximately RMB 890,682 thousand, an increase of about RMB 325,733 thousand or 57.7% compared to RMB 564,949 thousand for the year ended December 31, 2021[103] Orders and Market Demand - New signed orders totaled approximately RMB 9.356 billion, marking a year-on-year increase of approximately 40.60%[7] - The amount of orders on hand reached approximately RMB 8.622 billion, which is a year-on-year growth of approximately 50.73%[7] - New orders from the pharmaceutical and biopharmaceutical sectors accounted for over 50% of the total new orders, with new orders amounting to RMB 2,751,894 thousand[37] - The company has seen a notable increase in new orders in the electronic chemicals and daily chemicals sectors due to rising market demand for photovoltaic materials[40] - The company expects significant improvement in market supply and demand relationships in 2023, along with growth in overseas business and deeper global strategies[35] Strategic Focus and Development - The company has diversified its market distribution both domestically and internationally, enhancing its resilience against market fluctuations[8] - The strategic focus on capital expenditure projects aligns with the increasing demand from downstream industries[8] - The company aims to leverage existing domestic capacity and develop overseas capacity to achieve new heights in revenue and profit[13] - The company is focusing on balanced development in both Chinese and overseas markets by establishing technical and engineering centers abroad[78] - The company plans to avoid reliance on a single market or customer by operating across multiple sectors and focusing on high-return areas for resource allocation[80] Research and Development - The company is investing in R&D, with a budget increase of 25% for new technology development[20] - The group has initiated multiple projects in advanced biopharmaceuticals, microchannel reactors, ultra-high pressure industrial equipment, and lithium battery materials through collaborations with universities and joint ventures[13] - The company continues to support internal entrepreneurial teams, facilitating the development of new products and technologies in various fields, including new materials and biopharmaceuticals[76] - The company is focusing on R&D in non-traditional energy, semiconductor materials, and biodegradable materials, with several internal incubation platforms established to support new product development[68] Manufacturing and Capacity Expansion - New production capacity at the Nantong manufacturing base was completed and put into operation by June 30, 2022, with utilization rates approaching 100% and contributing to sales revenue[9] - The Changshu manufacturing base is scheduled to be operational by Q4 2023, which is expected to elevate the overall scale of the group[9] - The expansion project in Nantong, Jiangsu Province, has a total construction area of approximately 38,000 square meters and has already started contributing to sales revenue[66] - The new biopharmaceutical high-end equipment manufacturing base in Changshu, China, is under construction and will focus on high-end intelligent equipment for the biopharmaceutical and electronic chemical industries[66] Corporate Governance and Management - The management team has emphasized the importance of maintaining strong corporate governance practices moving forward[19] - The board of directors consists of 9 members, including 5 executive directors and 4 non-executive directors, ensuring a diverse governance structure[188] - The company has adopted the corporate governance code as the basis for its governance practices, ensuring compliance with applicable standards[186] - Independent non-executive directors play a crucial role in monitoring the company's corporate actions and operations, ensuring balance within the board[191] Sustainability and Social Responsibility - The group is committed to exploring renewable resources and biodegradable materials, focusing on non-traditional sustainable energy technologies as a key direction for future development[14] - The group actively participates in social welfare and charity activities, recognizing the importance of community support for corporate development[14] - Charitable donations made by the group during the reporting period totaled approximately RMB 1.091 million[175] Market Expansion and Acquisitions - Market expansion plans include entering two new international markets by Q3 2024[21] - The company is considering strategic acquisitions to enhance its product offerings and market presence[16] - The acquisition of Morimatsu Houston was completed for a total consideration of USD 1,295 thousand, aimed at expanding into the North American market[110] Employee Development and Talent Management - The group has established a comprehensive talent development system to ensure that professional engineers are engaged with clients globally, enhancing innovation and sustainable growth[11] - The company is investing in talent development, with a total workforce of 4,142, including over 521 R&D personnel[76] - The group has established a comprehensive compensation and benefits system, ensuring competitive market salaries to attract and retain high-quality employees[126]
森松国际(02155) - 2022 - 年度业绩
2023-03-22 08:31
Financial Performance - Revenue for the year ended December 31, 2022, was RMB 6,486,277,000, an increase of 51.3% from RMB 4,286,222,000 in 2021[2] - Gross profit for the same period was RMB 1,793,386,000, with a gross margin of 27.6%, consistent with the previous year's margin[2] - Net profit for 2022 was RMB 666,182,000, representing a 74.5% increase from RMB 381,838,000 in 2021, resulting in a net profit margin of 10.3%[2] - Adjusted EBITDA for 2022 was RMB 1,030,069,000, up from RMB 653,554,000 in 2021[2] - Basic earnings per share increased to RMB 0.64 in 2022 from RMB 0.43 in 2021[5] - The company reported a pre-tax profit of RMB 760,917,000 for 2022, compared to RMB 449,143,000 in 2021, reflecting a growth of 69.2%[33] - The net profit margin improved to approximately 10.3% for the year ended December 31, 2022, compared to approximately 8.9% for the year ended December 31, 2021, an increase of approximately 1.4 percentage points[106] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 5,834,547,000, an increase from RMB 4,310,174,000 in 2021[8] - The company's total equity increased to RMB 2,822,646,000 in 2022 from RMB 2,007,809,000 in 2021[10] - The company reported a net current asset of RMB 955,141,000 as of December 31, 2022, compared to RMB 619,837,000 in 2021[8] - Total borrowings increased from approximately RMB 370,002 thousand as of December 31, 2021, to approximately RMB 444,233 thousand as of December 31, 2022, reflecting a rise of approximately 20%[116] - The company's debt-to-equity ratio decreased from approximately 18.4% as of December 31, 2021, to about 15.7% as of December 31, 2022, primarily due to increased profits leading to higher reserves[117] Revenue Breakdown - Revenue from traditional pressure equipment reached RMB 2,662,892,000, up from RMB 2,221,045,000 in the previous year, indicating a growth of about 19.9%[19] - Revenue from the North American market increased significantly to RMB 515,899,000 in 2022 from RMB 117,248,000 in 2021, marking a growth of about 340.5%[24] - Modular pressure equipment sales surged to RMB 3,648,656,000 in 2022, compared to RMB 1,925,440,000 in 2021, showing an increase of approximately 89.5%[19] - Revenue from the European market rose to RMB 455,127,000 in 2022, up from RMB 215,157,000 in 2021, representing a growth of about 111.8%[24] Costs and Expenses - Employee costs, including salaries and benefits, increased to RMB 1,085,516,000 in 2022 from RMB 788,581,000 in 2021, reflecting a growth of 37.7%[28] - Research and development costs rose to RMB 316,084,000 in 2022, up from RMB 226,628,000 in 2021, an increase of 39.5%[30] - Sales and marketing expenses increased from approximately RMB 106,559 thousand for the year ended December 31, 2021, to approximately RMB 184,460 thousand for the year ended December 31, 2022, representing a growth of approximately 73%[100] - General and administrative expenses rose from approximately RMB 381,500 thousand for the year ended December 31, 2021, to approximately RMB 510,448 thousand for the year ended December 31, 2022, an increase of approximately 33.9%[101] Contracts and Orders - The total value of contracts remaining to be fulfilled as of December 31, 2022, was RMB 8,621,816,000, compared to RMB 5,720,026,000 in 2021[2] - The remaining performance obligations under existing customer contracts amounted to RMB 8,621,816,000 as of December 31, 2022, compared to RMB 5,720,026,000 at the end of 2021, reflecting an increase of approximately 50.5%[22] - New orders in the pharmaceutical and biopharmaceutical sectors accounted for over 29.4% of total new orders, indicating strong demand in these areas[71] - The total new order amount for electronic chemicals reached RMB 1,980.6 million, representing 21.2% of the total new orders[72] Market and Growth Outlook - The company expects significant growth in overseas business and overall market demand in 2023, driven by post-pandemic recovery[69] - The company continues to see stable growth in the pharmaceutical sector, with demand for new projects in antibodies, vaccines, and recombinant proteins[74] - The electronic chemicals and daily chemicals sectors have shown notable increases in new orders, particularly due to rising demand for photovoltaic materials since the Russia-Ukraine conflict[74] - The company is committed to enhancing its competitive position in traditional industries and advancing research in cutting-edge technologies such as renewable energy and artificial intelligence[75] Corporate Governance and Compliance - The company has complied with the corporate governance code and has not deviated from its provisions during the reporting period[123] - The audit committee consists of one non-executive director and two independent non-executive directors, with the chair being Ms. Chen Yuanxiu[125] - The company has appointed KPMG as its auditor for the reporting period and will propose the reappointment at the upcoming annual general meeting[126] Subsidiaries and Acquisitions - The company completed the acquisition of Morimatsu Houston Corporation in February 2022, which was accounted for as a business combination under common control[2] - The company established a new subsidiary, Shanghai Sensong Biotechnology Co., Ltd., with a registered capital of RMB 50 million, holding a 72.25% stake[120] - A new subsidiary, Shanghai Senzhong Biotechnology Co., Ltd., was established with a registered capital of RMB 41.3 million, with Sensong Biotechnology holding a 59.32% stake[120] Dividends - No dividends were declared or approved for the years ended December 31, 2022, and 2021[64] - The company did not recommend any final dividend for the reporting period[122]
森松国际(02155) - 2022 - 中期财报
2022-09-23 08:32
Financial Performance - Morimatsu International Holdings reported a revenue of HKD 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The company reported a revenue of ¥X million for the first half of 2022, representing a Y% increase compared to the same period last year[10]. - The company's revenue for the reporting period was approximately RMB 2,964,865 thousand, representing a year-on-year growth of about 59.8%[18]. - The group achieved a revenue increase from approximately RMB 1,855,673 thousand for the six months ended June 30, 2021, to approximately RMB 2,964,865 thousand for the six months ended June 30, 2022, representing a growth of about 59.8%[51]. - The company reported a total comprehensive income of RMB 304,650,000 for the period, compared to RMB 141,261,000 in 2021, showing a substantial increase[103]. - The net profit for the reporting period was approximately RMB 302,536 thousand, reflecting a year-on-year increase of approximately 111.8%[18]. - The net profit for the period was RMB 302,536,000, significantly higher than RMB 142,843,000 in the previous year, marking a year-over-year increase of 112%[101]. - The company reported a total comprehensive income for the period of RMB 304,786,000, which includes both profit and other comprehensive income[110]. Operational Efficiency - The company achieved a gross profit margin of 30%, up from 28% in the previous year, indicating improved operational efficiency[1]. - The gross margin improved to G%, reflecting better cost management and operational efficiencies[11]. - The company is implementing digital operation and maintenance strategies using IoT technology to improve efficiency and reduce costs by 15%[1]. - The company aims to reduce operational costs by H% through the implementation of modular manufacturing techniques[12]. Market Expansion and Strategy - The company has set a target to expand its market presence in Southeast Asia, aiming for a 25% revenue contribution from this region by 2025[1]. - The company is expanding its market presence in Europe, targeting a D% increase in market share by 2025[11]. - The company is committed to becoming a global leader in core equipment and digital engineering solutions[14]. - The company is focusing on market diversification and exploring emerging industries to ensure sustainable growth amid market risks[70]. Research and Development - Morimatsu is investing HKD 200 million in R&D for new biopharmaceutical technologies, with expected completion by Q4 2023[1]. - The company plans to invest ¥F million in R&D for innovative solutions in the energy sector over the next two years[10]. - Research and development expenses rose by approximately 87.9% to RMB 145,505 thousand for the six months ended June 30, 2022, accounting for about 4.9% of the group's revenue, up from 4.2% in the same period of 2021[57]. - The company emphasizes talent investment and development, establishing six internal entrepreneurial teams focused on new materials, biopharmaceuticals, and advanced equipment[48]. Strategic Acquisitions - Morimatsu is exploring strategic acquisitions to enhance its capabilities in the biopharmaceutical sector, with a budget of HKD 500 million allocated for potential deals[1]. - A strategic acquisition was completed, enhancing the company's capabilities in the biotechnology sector, valued at ¥E million[12]. - The group completed the acquisition of Morimatsu Houston, enhancing its operational capabilities and aligning with its strategic growth objectives[51]. Product Development - The company plans to launch two new products in the next fiscal year, projected to generate an additional HKD 300 million in revenue[1]. - New product development includes the introduction of a next-generation lithium battery technology, expected to enhance performance by C%[10]. - The company has developed several innovative systems, including a new mRNA vaccine production system and a lithium battery solvent recovery system, enhancing its technological capabilities[48]. Client and Order Growth - User data showed a 20% increase in active clients, reaching 5,000 by the end of the reporting period[1]. - New orders signed during the reporting period totaled 455 contracts, with a total contract value of approximately RMB 5,111,849 thousand, marking a year-on-year growth of about 50.1%[18]. - The company reported a net increase in cash and cash equivalents of RMB 476,206,000 for the six months ended June 30, 2021[129]. Financial Management - Financial costs decreased by approximately 31.3% to RMB 7,900 thousand for the six months ended June 30, 2022, primarily due to the repayment of part of the bank loans in the second half of 2021[58]. - The capital debt ratio decreased from approximately 18.4% as of December 31, 2021, to 17.9% as of June 30, 2022, due to profits increasing reserves during the reporting period[66]. - The company reported a foreign exchange gain of RMB 39,958,000 in 2022, a substantial improvement from a loss of RMB 1,344,000 in 2021[140]. Sustainability Commitment - Morimatsu is committed to achieving carbon neutrality by 2060, aligning with China's dual carbon goals announced in September 2020[1]. Shareholder Information - The company has not proposed any interim dividend for the six months ending June 30, 2022[71]. - Major shareholder Morimatsu Holdings owns 750,000,000 shares, representing 70.49% of the total issued shares[95].
森松国际(02155) - 2021 - 年度财报
2022-04-13 08:43
Financial Performance - The company's sales revenue reached approximately RMB 4.279 billion, representing a year-on-year growth of about 43.7%[8] - Gross profit was approximately RMB 1.176 billion, with a year-on-year increase of about 39.4%[8] - Net profit amounted to approximately RMB 381 million, reflecting a year-on-year growth of about 31.5%[8] - Revenue for 2021 reached RMB 4,278,847 thousand, a 43.5% increase from RMB 2,978,626 thousand in 2020[28] - Gross profit for 2021 was RMB 1,176,371 thousand, representing a 39.4% increase from RMB 844,104 thousand in 2020[28] - Profit from continuing operations for 2021 was RMB 380,552 thousand, up 31.5% from RMB 289,385 thousand in 2020[28] - Total assets as of December 31, 2021 amounted to RMB 5,695,324 thousand, a significant increase from RMB 3,034,445 thousand in 2020[28] - Total liabilities for 2021 were RMB 3,687,032 thousand, compared to RMB 2,036,133 thousand in 2020, indicating a 81.1% increase[28] - The company recorded a profit of approximately RMB 380,552 thousand for the year ended December 31, 2021, an increase of approximately RMB 91,167 thousand compared to RMB 289,385 thousand in 2020, driven by revenue growth despite increased expenses[86] Order and Backlog - New signed orders totaled approximately RMB 6.654 billion, marking a year-on-year increase of about 88.7%[8] - The backlog of orders was approximately RMB 5.720 billion, which is a year-on-year growth of about 72.5%[8] - The total new orders amounted to RMB 6,654,149 thousand, with the pharmaceutical and biopharmaceutical sectors contributing RMB 2,401,812 thousand[39] Business Strategy and Market Position - The company aims to become a global leader in core equipment, process systems, and digital engineering solutions[7] - The company has established long-term strategic partnerships with leading enterprises across various industries, including biopharmaceuticals and new chemical materials[9] - The company is focusing on sustainable development, aligning with global trends towards low-emission and low-pollution energy structures, and promoting innovation in downstream industries[15] - The company is expanding its operations in the pharmaceutical and daily chemical industries, with a focus on enhancing business operations[18] - The company has a strategic focus on market expansion and enhancing customer relationships through improved operational management[16] Research and Development - The company emphasizes continuous innovation in products and services to adapt to market fluctuations and maintain sustainable growth[9] - The company is actively involved in the development of new technologies and products, including mRNA technology and biodegradable materials, to meet evolving market needs[11] - The company has established six internal startup teams focused on new technologies and products in fields such as new materials and biopharmaceuticals[65] - The company collaborates closely with leading industry players and academic institutions to enhance its R&D capabilities and talent pool[64] Production Capacity and Infrastructure - The company has expanded its production capacity, with a new production base in Nantong covering approximately 50,000 square meters, expected to be completed by June 2022, and a new clean product production base in Changshu with an investment of approximately $180 million, set to start construction in May 2022[13] - The company established a new manufacturing base in Suzhou for high-end intelligent equipment in biopharmaceuticals and electronic chemicals, set to commence construction in 2022 and expected to start production in the second half of 2023[33] - The company plans to continue expanding production capacity in response to market demands while maintaining a balanced approach between local and overseas markets[67] Workforce and Management - The workforce has reached 3,211 employees, including over 400 R&D personnel and more than 1,600 engineering and technical management staff, supporting the company's growth and innovation[14] - The company has a robust management team with diverse educational backgrounds, including degrees in engineering and business administration[19] - The company emphasizes talent investment, building a robust training system and providing opportunities for employees to pursue advanced degrees abroad[62] Corporate Governance - The company has appointed independent directors to ensure governance and provide independent judgment to the board[20] - The board includes members with significant academic and industry experience, enhancing the company's strategic decision-making capabilities[24] - The company has adopted the corporate governance code as the basis for its governance practices and believes it has complied with all applicable provisions during the reporting period[159] Environmental, Social, and Governance (ESG) - The company is committed to environmental, social, and corporate governance (ESG) initiatives, with dedicated oversight from its executives[20] - The group has established a stakeholder engagement strategy to enhance collaboration with key stakeholders, including government, investors, employees, customers, suppliers, and the community[195] - The group emphasizes compliance with national laws and regulations, pollution control, and employee rights protection as part of its corporate responsibility[196] Market Trends and Industry Insights - The Chinese government has set ambitious targets for carbon neutrality, which is expected to drive demand for clean energy and power battery materials, with a projected increase in battery production capacity[42] - The Chinese biopharmaceutical market is projected to reach approximately RMB 1.303 trillion by 2030, with its market share expected to grow from 19% in 2019 to 41% by 2030[45] - The global biopharmaceutical market is anticipated to reach USD 768 billion by 2030, with China's share increasing from 18% to 41% during the same period[45] Risk Management - The group has established appropriate risk management and internal control mechanisms to address significant operational, financial, and regulatory risks[117] - The group faced market risks primarily from cyclical developments in downstream markets and industries, such as traditional energy and chemical products, but diversified customer base and market development helped maintain steady growth[118] - The group has implemented credit control policies to mitigate credit risk, regularly monitoring customer creditworthiness[120] Shareholder Relations - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[189] - Shareholders holding at least 5% of voting rights can request the board to convene a special general meeting within 21 days[187] - The board has adopted a dividend policy, stating that dividends declared at the shareholders' meeting cannot exceed the amount recommended by the board[190]
森松国际(02155) - 2021 - 中期财报
2021-09-23 09:13
Financial Performance - Morimatsu International Holdings reported unaudited interim consolidated results for the six months ended June 30, 2021[12]. - Revenue for the six months ended June 30, 2021, was RMB 1,852,632 thousand, representing a 28.5% increase from RMB 1,441,933 thousand in the same period of 2020[64]. - Gross profit for the same period was RMB 483,027 thousand, up from RMB 430,447 thousand, indicating a gross margin improvement[64]. - Operating profit decreased to RMB 179,850 thousand from RMB 246,486 thousand, reflecting a decline of 27.0% year-over-year[64]. - Net profit for the period was RMB 143,531 thousand, down 31.8% from RMB 210,548 thousand in the prior year[65]. - Basic earnings per share decreased to RMB 0.19 from RMB 0.28, a decline of 32.1%[64]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 142,977,000, compared to RMB 143,531,000 for the same period in 2020, reflecting a slight decrease[77]. - The company reported a total comprehensive income of RMB 142,977 thousand for the period, down from RMB 210,757 thousand in the previous year[66]. - The total new order amount for the group reached approximately RMB 3,406.7 million in the first half of 2021, a significant increase from RMB 1,909.2 million in the same period of 2020[24]. Market and Industry Focus - The company focuses on biopharmaceuticals, modular systems, and electronic chemicals, which are critical for the semiconductor industry[10]. - The company is expanding its market presence in China, particularly in the Pudong New Area of Shanghai[6]. - The global biopharmaceutical market is projected to grow at a compound annual growth rate (CAGR) of approximately 18.4% from 2018 to 2023, reaching about $556.5 billion[13]. - China's biopharmaceutical market is expected to reach approximately $96.9 billion and $199.4 billion by 2023 and 2030, respectively, with a CAGR of about 19.6% from 2018 to 2023[13]. - The company has established itself as a leading provider of modular, digital, and intelligent factory solutions for mRNA COVID-19 vaccine projects, anticipating new business opportunities exceeding $15 billion to $20 billion in the Chinese pharmaceutical equipment industry due to the pandemic[16]. - The company is focused on research and development to innovate new products in the biopharmaceutical sector[10]. - The company aims to enhance its market competitiveness by accelerating production expansion in response to the rapid development of the biopharmaceutical industry in China[13]. Research and Development - The company aims to enhance operational efficiency through digital maintenance using IoT technology[11]. - The company is committed to developing biodegradable materials and high-purity electronic chemicals to meet industry standards[10]. - R&D expenses grew approximately 70.4% to RMB 77,436 thousand, representing 4.2% of revenue, reflecting increased investment in new products and technologies[38]. - The company plans to invest approximately USD 180 million in a biopharmaceutical high-end equipment manufacturing base project, covering over 200,000 square meters[29]. Strategic Initiatives - The company is exploring strategic partnerships and acquisitions to bolster its growth trajectory[12]. - The company has formed strong partnerships with over 85% of the top 20 global pharmaceutical companies, enhancing its international market promotion strategy[16]. - The company signed a long-term global strategic cooperation agreement in March 2020 with a leading industry player to provide core reactors and modular reaction devices for battery raw materials projects[17]. - The group has established a strategic agreement to design and construct the world's first modular advanced chemical materials production facility for a leading international chemical company[19]. Financial Health and Investments - The company reported a significant increase in financial costs, with interest on borrowings rising to RMB 11,461,000 from RMB 3,768,000 year-over-year[90]. - Total assets as of June 30, 2021, were RMB 3,292,306 thousand, compared to RMB 2,053,416 thousand at the end of 2020, showing significant growth[68]. - The company's equity attributable to shareholders increased to RMB 1,669,044 thousand from RMB 998,312 thousand, indicating strong financial health[72]. - The company issued shares amounting to RMB 493,980,000 during the reporting period, contributing significantly to financing activities[78]. - Cash and cash equivalents increased by RMB 474,409,000, reaching RMB 898,837,000 as of June 30, 2021, compared to RMB 557,026,000 at the end of the previous period[78]. Operational Metrics - The total backlog of uncompleted orders was approximately RMB 4,880,729 thousand, up from RMB 3,224,779 thousand as of June 30, 2020[27]. - Trade and other receivables rose by approximately 91.7% from RMB 578,858 thousand on December 31, 2020, to RMB 1,109,559 thousand on June 30, 2021[46]. - Trade and other payables increased by approximately 40.0% from RMB 724,551 thousand on December 31, 2020, to RMB 1,014,595 thousand on June 30, 2021[47]. - Contract liabilities grew by approximately 34.8% from RMB 842,649 thousand on December 31, 2020, to RMB 1,136,135 thousand on June 30, 2021[48]. Employee and Corporate Governance - As of June 30, 2021, the group had a total of 2,951 employees, with 356 in R&D, accounting for over 10% of total employees[52]. - The company has established a comprehensive compensation and benefits system to attract and retain high-quality employees[52]. - The company has implemented a series of forward contracts to manage foreign exchange risks, with no significant impact from currency fluctuations reported for the six months ended June 30, 2021[52]. - The group maintained a public float of no less than 25% of issued shares since the listing date[54]. Compliance and Risk Management - The company emphasizes compliance with international standards in its product offerings[11]. - The effective tax rate for the group’s Chinese subsidiaries remains at 25%, consistent with the statutory corporate income tax rate in China[95]. - The group has no significant litigation or arbitration matters as of June 30, 2021[52].