LH(600099)2023-03-24 16:00Financial Performance - In 2022, the company's operating revenue was RMB 730,393,230.12, a decrease of 13.20% compared to RMB 841,449,093.16 in 2021[24] - The net profit attributable to shareholders of the listed company for 2022 was RMB 9,318,493.03, down 2.06% from RMB 9,514,023.77 in 2021[24] - The net profit after deducting non-recurring gains and losses was RMB 7,581,557.69, a decrease of 14.08% from RMB 8,823,932.70 in 2021[24] - The net cash flow from operating activities was RMB 41,336,361.04, compared to a negative RMB 6,717,192.96 in 2021[24] - The total profit for the period was CNY 11.18 million, down 3.08% compared to the previous year[51] - The net profit attributable to shareholders was CNY 9.32 million, reflecting a decline of 2.06% year-on-year[48] - The total assets at the end of the period rose to CNY 770.34 million, an increase of 12.01% from the previous year[48] - The asset-liability ratio increased to 34.79%, up 6.39 percentage points from the end of the previous year[48] Research and Development - The company increased its R&D investment by 56.46% year-on-year, totaling ¥2022.38 million, focusing on key technologies in emission control and noise reduction[37] - Research and development expenses increased by 56.46% to CNY 20.22 million, driven by new projects[51] - The company maintained a stable talent pool and enhanced its R&D capabilities through various policies[47] - The company launched seven new R&D projects during the year, including the new harvester and 150T-5[72] - The company is actively advancing its R&D projects, focusing on improving efficiency and quality to support market expansion[73] - The company is committed to increasing R&D investment, particularly in high-end products such as 1000CC engines and advanced agricultural machinery, with ongoing projects aimed at mass production[125] Market Trends and Challenges - The total production and sales of all-terrain vehicles in China decreased by 21.54% and 20.8% year-on-year, with exports down by 22.3%[42] - The agricultural machinery market faced significant declines in 2022 due to low demand, despite previous growth driven by high-speed transplanting machines[43] - The motorcycle industry in China saw a production and sales decline of approximately 15% in 2022, with exports down by 16%[44] - The agricultural machinery sector is undergoing adjustments, with a persistent mismatch between supply and demand, necessitating product structure reforms[129] - The company faces macroeconomic risks due to global economic slowdown and geopolitical tensions, which may impact its operations[128] - The company is exposed to raw material price fluctuations, particularly in non-ferrous metals, which could affect its operational performance[130] Governance and Management - The company implemented a board authorization management approach to enhance governance and risk control, aligning with national enterprise reform initiatives[41] - The company has established a professional international sales team to enhance its independent sales capabilities, effectively reducing reliance on related party sales channels[136] - The company revised and improved 13 internal control systems during the reporting period, including rules for shareholder meetings and related party transactions[135] - The board of directors and supervisory board are fully compliant with legal requirements, ensuring effective governance and oversight[135] - The company’s governance structure includes an audit committee, compensation and assessment committee, strategic development committee, and nomination committee to enhance decision-making processes[135] - The company has taken measures to ensure the independence of its operations from controlling shareholders, including business integration and seeking non-related partners[135] Shareholder Information - The cash dividend proposed for distribution is RMB 0.03 per share, totaling RMB 6,573,600, which accounts for 70.54% of the net profit attributable to shareholders[6] - The company has a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring the protection of minority shareholders' rights[164] - The total number of ordinary shareholders as of the end of the reporting period is 14,645, an increase from 14,585 at the end of the previous month[198] - The largest shareholder, China Fuma Machinery Group Co., Ltd., holds 92,256,920 shares, representing 42.10% of the total shares, with 46,128,450 shares pledged[200] Environmental and Social Responsibility - The company invested CNY 20,000 in environmental protection during the reporting period[175] - The company plans to invest CNY 5,000,000 in green and low-carbon technology research and development, expecting to generate approximately CNY 25,000,000 in revenue from new energy all-terrain vehicles[178] - The company has implemented a comprehensive internal control system, which was audited and deemed effective by the accounting firm Xin Yong Zhong He[172] - The company has adopted measures to reduce carbon emissions, achieving a reduction of 600 tons of CO2 equivalent[178] - The company has not faced any administrative penalties related to environmental issues during the reporting period[177] Future Outlook - The company plans to focus on expanding domestic market demand and enhancing international competitiveness in the motorcycle industry[112] - The company aims to accelerate the development of electric motorcycles and maintain the growth of the recreational motorcycle market[113] - The company aims to enhance its capabilities and performance, focusing on special vehicles and agricultural machinery, with a goal to become a leading supplier in these sectors[120] - In 2023, the company plans to increase market expansion efforts and improve operational efficiency, targeting a significant rise in operating profit margins and overall labor productivity[124] - Future outlook indicates a continued focus on market expansion and new product development, aiming for a 30% increase in revenue next year[140]