HXSS(600477)2023-03-31 16:00Financial Performance - Annual revenue reached 9.94 billion RMB, a year-on-year increase of 3.73%[24] - Net profit attributable to shareholders of the listed company was 267.86 million RMB, a year-on-year decrease of 34.92%[24] - Total assets at the end of 2022 were 13.93 billion RMB, an increase of 18.52% compared to the previous year[24] - Basic earnings per share were 0.124 RMB, a year-on-year decrease of 35.08%[25] - Weighted average return on equity was 5.35%, a decrease of 4.59 percentage points compared to the previous year[25] - Operating cash flow was negative 835.23 million RMB, an improvement of 7.58% compared to the previous year[24] - Non-recurring gains and losses amounted to 77.67 million RMB, a significant decrease from 197.12 million RMB in the previous year[30] - Equity attributable to shareholders of the listed company was 5.07 billion RMB, an increase of 17.91% compared to the previous year[24] - The company achieved revenue of 9.935 billion yuan, a year-on-year increase of 3.73%, and net profit attributable to shareholders of 267 million yuan[65] - Total revenue increased by 4.71% to 9,776,796,491.80 yuan, with a gross margin increase of 1.33 percentage points to 14.47%[69] - Industrial sector revenue increased by 64.30% to 140,699,493.91 yuan, with a gross margin decrease of 1.5 percentage points to 8.27%[69] - Construction sector revenue grew by 7.10% to 8,909,252,194.98 yuan, with a gross margin increase of 1.27 percentage points to 15.59%[69] - Service sector revenue declined by 22.10% to 726,844,802.91 yuan, with a gross margin decrease of 1.01 percentage points to 1.91%[69] - Multi-story steel structure revenue decreased by 7.08% to 5,964,589,242.88 yuan, with a gross margin increase of 1.77 percentage points to 15.78%[69] - Light steel structure revenue surged by 55.05% to 2,944,662,952.10 yuan, with a gross margin decrease of 0.18 percentage points to 15.20%[69] - Steel structure production volume increased by 33.35% to 1.1634 million tons, with sales volume up by 31.75% to 1.1447 million tons[70] - Direct material costs for multi-story steel structure decreased by 5.35% to 2,381,695,894.24 yuan, accounting for 28.48% of total costs[71] - Direct labor costs for light steel structure surged by 532.38% to 177,268,023.51 yuan, accounting for 2.12% of total costs[71] - Direct material costs for building materials products increased by 452.51% to 66,587,446.91 yuan, accounting for 0.80% of total costs[72] - Top 5 customers accounted for 15.28% of total annual sales, totaling 1,518.10 million yuan[74] - Top 5 suppliers accounted for 12.42% of total annual procurement, totaling 923.34 million yuan[74] - R&D expenses increased by 27.22% year-on-year to 487.79 million yuan[74] - Total R&D investment accounted for 5.18% of total revenue, with 5.22% of R&D investment capitalized[76] - Tax refunds received increased by 2092.23% year-on-year to 178.89 million yuan, mainly due to technology licensing income tax refunds[78] - Cash and cash equivalents increased by 912.97% year-on-year to 140.82 million yuan, mainly due to the receipt of raised funds and project payments[79] - Currency funds increased by 40.05% year-on-year to 774.32 million yuan, mainly due to the receipt of raised funds and project payments[81] - Accounts receivable increased by 54.00% to 2,234,827,480.19 RMB due to unconfirmed bills and factoring financing at the end of the period[82] - Prepaid expenses decreased by 68.88% to 116,581,262.37 RMB due to reduced prepayments for materials[82] - Construction in progress increased by 125.14% to 575,036,439.41 RMB due to new factory construction and equipment purchases by subsidiaries[82] - Intangible assets increased by 40.66% to 570,180,121.86 RMB due to land purchases and non-controlling mergers[82] - Contract liabilities increased by 98.48% to 790,669,960.30 RMB due to increased prepayments for projects[82] - Overseas assets amounted to 34,989,800.86 RMB, accounting for 0.25% of total assets[83] - Accounts receivable financing decreased by 5,520,330.85, resulting in a closing balance of 16,417,669.15[96] - Other equity instruments decreased by 146,815,528.46, resulting in a closing balance of 694,159,695.18[96] - Total investments decreased by 146,815,528.46 and 5,520,330.85, resulting in a closing balance of 710,577,364.33[97] - The company's net profit attributable to ordinary shareholders in 2022 was RMB 267,859,467.85, with a cash dividend ratio of 30.83%[157] - The total cash dividend for 2022 was RMB 119,046,527.57, accounting for 44.44% of the net profit attributable to ordinary shareholders[157] - The company repurchased 9,997,714 shares for the employee持股计划, with a total expenditure of RMB 36,477,557.24 (excluding transaction fees)[158] Dividend and Share Repurchase - The company plans to distribute a cash dividend of RMB 0.35 per 10 shares, totaling RMB 82,568,970.33, based on a total of 2,359,113,438 shares after deducting repurchased shares[5] - The company implemented a cash dividend policy, distributing RMB 0.6 per 10 shares, totaling RMB 142,146,669.12 (tax included) for the year 2022[153] - The company proposed a share repurchase plan using centralized bidding[137] Subsidiaries and Investments - The company's subsidiary, Jiangxi Hangxiao, paid RMB 930,000 in personal income tax on behalf of a shareholder, which was repaid on January 18, 2023[7] - The company invested in new production bases in Henan Xin'an and acquired a controlling stake in Bozhou Hangxiao, while also participating in the mixed-ownership reform of Wuhu Urban Construction Company[36] - The company's subsidiaries, such as Shandong Hangsu, Anhui Hangsu, and Henan Hangsu, have significant assets and equity stakes, with Shandong Hangsu having assets of 72,858.33 million and equity of 20,136.31 million[99] - The company's subsidiary, Wanjun Green Building, has assets of 177,736.54 million and equity of 63,950.03 million[99] - The company's subsidiary, Hanlin Design, has assets of 3,770.78 million and equity of 1,041.26 million[99] - The company's subsidiary, Dinghong Technology, has assets of 7,481.28 million and equity of 6,504.60 million[99] - The company's subsidiary, Hebei Hangxiao, has assets of 159,078.21 million and equity of 33,939.01 million[99] - The company's subsidiary, Guangdong Hangsu, has assets of 114,859.17 million and equity of 31,373.72 million[99] - The company's subsidiary, Inner Mongolia Hangxiao, has assets of 33,024.15 million and equity of 11,665.47 million[99] - The company approved a proposal to increase capital in its subsidiary, Zhejiang Hete Optoelectronics Co., Ltd.[137] - The company acquired minority equity in its subsidiaries, Hainan Hangxiao and Lankao Hangxiao, and sold partial equity in its subsidiary, Xinyang Hangxiao[137] - The company established a new holding subsidiary and acquired equity in Anhui Minhe Hangxiao Steel Structure Co., Ltd.[137] - The company provided guarantees for its subsidiaries, including Hefei Hangxiao, Hete Optoelectronics, and Xinyang Hangxiao[137] Contracts and Orders - Newly signed contract orders for the year amounted to 16.42 billion RMB, with an additional 1.82 billion RMB in orders won but not yet signed[35] - The company signed steel structure contracts totaling approximately 12.041 billion yuan, a year-on-year increase of 12.44%[36] - The company completed 152 projects with a total value of 5,451,304,700 RMB, including 95 in housing construction and 21 in specialized engineering[87] - The company has 350 ongoing projects with a total value of 20,339,002,300 RMB, including 342 domestic projects and 8 overseas projects[89] - The company signed 358 new projects during the reporting period, totaling 16,423,549,500 RMB[90] - The company's total outstanding orders at the end of the reporting period amounted to 11,341,795,900 RMB, including 744,382,500 RMB for projects not yet started and 10,597,413,400 RMB for ongoing projects[91] Research and Development - The company's industrial internet project obtained 3 authorized invention patents and 4 computer software copyright registration certificates, and was listed as a key "industrial internet project" by the provincial, municipal, and district governments[38] - The company's subsidiary Dinghong Machinery successfully developed an automatic welding control system for steel structure small parts (stiffening plates) and implemented multiple automatic welding workstations[39] - The company has a strong R&D capability, with over 600 national patents and participation in the compilation of more than 90 national, industry, and local standards[58] - The company's R&D expenses increased by 27.22% year-on-year to 487.79 million yuan, mainly due to increased R&D investment[66] - The company has 1,126 R&D personnel, accounting for 17% of the total workforce[77] - The company is developing a digital transformation strategy, focusing on a steel structure big data operating system and a "future factory" collaborative manufacturing platform[63] - The company will continue to increase investment in technological R&D, leveraging national postdoctoral and provincial academician workstations to maintain a leading technological edge[112] Environmental and Social Responsibility - The company built distributed photovoltaic power stations with a total capacity of 13,312KW, including a 9,600KW project in Xiaoshan, the largest single photovoltaic building integration project in Zhejiang Province[41] - The company's environmental report shows compliance with emission standards, with no超标排放情况 reported[165] - The company has installed two sets of exhaust gas treatment facilities in the painting areas, with an efficiency of approximately 91.5%[166] - The total collection efficiency of exhaust gas in the painting areas is not less than 90%[166] - The company has obtained a new pollutant discharge permit in September 2022 for Shandong Hangxiao[167] - The company has established emergency response plans and conducts annual drills[168] - The company has installed online monitoring equipment and developed a self-monitoring plan[170] - The company has not received any administrative penalties for environmental issues during the reporting period[171] - The company is installing solar panels on the roof of its Xiaoshan factory, with the first phase currently in progress[174] - The company has donated a total of 1.3322 million yuan, including 1.2352 million yuan in cash and 97,000 yuan in material donations[176] Corporate Governance and Leadership - The company's Chairman, Dan Yinmu, holds 904,713,764 shares with an annual pre-tax remuneration of 3.39 million yuan[128] - The company's Vice Chairman and President, Lu Yongjun, holds 26,246,741 shares with an annual pre-tax remuneration of 980,000 yuan[128] - The company's CFO, Xu Qiong, holds 582,645 shares with an annual pre-tax remuneration of 785,800 yuan[128] - The company's President, Che Jihua, holds 14,904,900 shares with an annual pre-tax remuneration of 1.297 million yuan[128] - The company's Vice President and Board Secretary, Song Beibei, has an annual pre-tax remuneration of 545,600 yuan[128] - The company's independent directors, Luo Jinming, Wang Hongwen, and Zhou Yongliang, each have an annual pre-tax remuneration of 80,400 yuan[128] - The company's former director, Zhang Zhenyong, holds 22,037,700 shares with an annual pre-tax remuneration of 467,000 yuan[128] - The company's former supervisor, Ning Zenggen, has an annual pre-tax remuneration of 210,000 yuan[128] - The company's former supervisor, Song Tianye, has an annual pre-tax remuneration of 85,400 yuan[128] - The company's supervisor, Ying Ying, holds 3,588 shares with an annual pre-tax remuneration of 448,400 yuan[128] - Total compensation for executives in 2022 amounted to 970.197 million yuan[129] - The company's total compensation for executives in 2022 increased by 1.53718% compared to the previous year[129] - Liu Angui, Vice President, received the highest compensation among executives at 1,313,507 yuan[129] - Tan Bo, Vice President, had the highest attendance rate at 95.32%[129] - The company's executives have extensive experience in the steel structure industry, with several holding advanced degrees and professional certifications[129][131] - The company has a strong focus on research and development, with several executives holding positions related to engineering and design[131] - The company has expanded its operations across multiple regions in China, with executives managing subsidiaries in various provinces[131] - The company has a diverse leadership team with a mix of genders and ages, ranging from 38 to 57 years old[129] - The company has a robust governance structure with independent directors holding significant academic and professional qualifications[129] - The company has a history of promoting from within, with several executives having long tenures and progressing through various roles within the organization[131] - Total compensation for all directors, supervisors, and senior management in 2022 amounted to 15.37 million yuan[133] - The company appointed new senior management personnel and elected the chairman of the eighth board of directors[137] - The company revised its Articles of Association, Shareholders' Meeting Rules, and Board of Directors' Rules[137] - The company's audit committee held 5 meetings in 2022, focusing on financial reports, internal control evaluations, and acquisition-related transactions[141][142] - The nomination committee held 2 meetings in 2022, addressing board member elections and senior management appointments[143] - The compensation and evaluation committee held 1 meeting in 2022, reviewing the 2021 compensation details of directors, supervisors, and senior management[144] - The strategic committee held 1 meeting in 2022, reviewing the company's 2022 business plan[145] Employee and Training - Total number of employees in the parent company and major subsidiaries is 6,767, with 664 in the parent company and 6,103 in major subsidiaries[147] - The company conducted 2,137 training sessions in 2022, covering 54,505 participants, with a 100% training coverage rate[149] - The company's labor outsourcing totaled 3,789,539.13 hours, with a total payment of 132,930,996.06[151] - The company's employee structure includes 3,855 production staff, 378 sales staff, 757 technical staff, 181 financial staff, 560 administrative staff, and 1,036 others[147] - The company's education level distribution includes 109 with master's or doctoral degrees, 1,373 with bachelor's degrees, and 5,285 with associate degrees or below[147] - The company's training program included the 5th President Training Class, with 61 participants and 80 hours of training[149] Legal and Compliance - The company reported non-operational fund occupation by controlling shareholders and other related parties, with a total amount of 936,400 RMB, which was fully repaid by January 18, 2023[184] - The company's accounting policy changes were disclosed on the Shanghai Stock Exchange website, with detailed information available in the "Announcement on Accounting Policy Changes"[186] - The company paid 1 million RMB for annual financial audit services and 600,000 RMB for internal control audit services to Da Hua Certified Public Accountants (Special General Partnership)[188] - Da Hua Certified Public Accountants (Special General Partnership) has been providing audit services to the company for 20 consecutive years since its listing[188] - The company has ongoing major litigation and arbitration cases, including a construction contract dispute with Baotou Guorui Carbon Valley Co., Ltd., with the first-instance judgment effective and under execution[191] - The company is involved in a construction contract dispute with Inner Mongolia Kaide Real Estate Development Co., Ltd., with the second-instance judgment maintaining the original verdict and under execution[191] - The company has a construction contract dispute with Tianjin Gaosheng Real Estate Development Co., Ltd., with the first-instance judgment effective and under execution[191] - Hebei Hangxiao has a loan contract dispute with Inner Mongolia Kaide Real Estate Development Co., Ltd., with a mediation agreement issued by the Tangshan Intermediate People's Court and under phased compulsory execution[192] - The company has a construction contract dispute with Xinjiang Tian Sheng Industrial Co., Ltd., with the court approving the reorganization plan and terminating the reorganization process, with ordinary claims settled at 1.34% and secured claims at 100%[194] - The company has a construction contract dispute with Guizhou Xingdong National Health Industry Park Co., Ltd., with a mediation agreement reached and partial payment received, with the remaining amount under execution[194] - The company has a construction contract dispute with Yunnan Boxin Real Estate Development Co., Ltd., with a mediation agreement reached and partial payment received, with the remaining amount