Longi(SH:601012)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 reached RMB 128.99 billion, a 60.03% increase compared to RMB 80.61 billion in 2021[18]. - Net profit attributable to shareholders for 2022 was RMB 14.81 billion, reflecting a 63.02% growth from RMB 9.09 billion in 2021[18]. - The net cash flow from operating activities was RMB 24.37 billion, up 97.77% from RMB 12.32 billion in 2021[18]. - The total assets at the end of 2022 amounted to RMB 139.56 billion, a 42.79% increase from RMB 97.73 billion at the end of 2021[18]. - The company's net assets attributable to shareholders reached RMB 62.15 billion, representing a 30.98% increase from RMB 47.45 billion in 2021[18]. - Basic earnings per share for 2022 were RMB 1.95, a 61.16% increase from RMB 1.21 in 2021[19]. - The weighted average return on equity for 2022 was 26.95%, an increase of 5.50 percentage points from 21.45% in 2021[19]. - The company achieved total revenue of CNY 128.998 billion in 2022, representing a year-on-year growth of 60.03%[24]. - Net profit attributable to shareholders reached CNY 14.812 billion, up 63.02% year-on-year, with a net profit excluding non-recurring items of CNY 14.414 billion, reflecting a growth of 63.31%[24]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 4 CNY per 10 shares, totaling approximately 3.03 billion CNY (including tax), representing a cash dividend payout ratio of 20.47% for the year 2022[3]. - The total number of shares held by the Chairman increased from 89,855,990 to 98,610,386, reflecting an increase of 8,754,396 shares due to non-trading transfers and the 2021 annual equity distribution[109]. - The total number of shares held by the CEO rose from 762,298,695 to 1,067,218,173, with an increase of 304,919,478 shares attributed to the 2021 annual equity distribution[109]. - The company reported a total of 1,730,201 shares held by the CFO at year-end, an increase of 674,343 shares due to the 2021 annual equity distribution and the 2022 incentive plan[109]. - The company maintains a transparent profit distribution policy that complies with regulations and protects the rights of minority shareholders[141]. Corporate Governance - The company has established a comprehensive governance structure, having revised 21 governance policies and created 4 new ones during the reporting period[102]. - The company has maintained independence from its controlling shareholder, ensuring no interference in decision-making processes[102]. - The company has conducted multiple shareholder meetings throughout 2022, ensuring compliance with legal and regulatory requirements[106]. - The company has established a robust investor relations strategy, focusing on transparent communication and engagement with shareholders[104]. - The company has implemented a foreign exchange management system to mitigate some currency fluctuation risks, but significant exchange rate volatility could still affect its overseas business and financial performance[100]. Research and Development - Research and development expenses totaled CNY 7.141 billion, accounting for 5.54% of total revenue, with a total of 2,132 patents granted by the end of 2022[26]. - The company has invested over RMB 18 billion in R&D since its listing in 2012, the highest in the PV industry, and holds 2,132 patents as of December 31, 2022[38]. - The company achieved a record solar cell conversion efficiency of 26.81% for its self-developed silicon heterojunction cells, setting a new global record[26]. - The company has established a professional R&D team of over 4,000 members and launched a national-level enterprise technology center to enhance its innovation capabilities[38]. - The company is committed to high-intensity investment in core technology research and development to enhance manufacturing capabilities[94]. Market and Industry Trends - The global PV industry is expected to face a potential oversupply situation due to rapid capacity expansion, despite ongoing demand growth[29]. - The company is focusing on expanding its production capacity in response to increasing competition, with significant plans from both existing and new entrants in the PV industry[29]. - The company is positioned to leverage the trend of manufacturing decentralization as countries implement policies to encourage local production in the renewable energy sector[30]. - The company recognizes the trend of energy consumption electrification and clean energy production as a necessary global transition[92]. - By 2027, cumulative global photovoltaic installed capacity is expected to triple to over 2,350GW, making it the largest power source globally[90]. Environmental and Social Responsibility - The total environmental protection investment during the reporting period amounted to 405.90 million CNY[153]. - The company has been recognized as a "green factory" and "green supply chain management enterprise" at the national level[167]. - The company implemented carbon reduction measures, achieving a reduction of 2,642,535 tons of CO2 equivalent emissions[168]. - The proportion of green electricity usage reached 47.18% in 2022, with a 38.21% increase compared to 2021, avoiding 2.43 million tons of CO2 emissions[169]. - The company invested 1,076.01 million yuan in social responsibility projects, benefiting 200,000 people[172]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period[187]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[183]. - The company has not faced any penalties from securities regulatory authorities in the past three years[120]. - The company has no major accounting errors or changes in accounting policies during the reporting period[184]. - The company has established a mechanism for independent directors and supervisory board to oversee profit distribution, ensuring compliance with relevant laws and regulations[142].