SERES(SH:601127)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥34.10 billion, a 104% increase compared to ¥16.72 billion in 2021[9]. - The net profit attributable to shareholders was a loss of approximately ¥3.83 billion, compared to a loss of ¥1.82 billion in the previous year[9]. - The net cash flow from operating activities was a negative ¥1.17 billion, worsening from a negative ¥987 million in 2021[9]. - The company achieved a total revenue of RMB 34,104.996 million in 2022, representing a year-on-year growth of 104.0%[17]. - The revenue from new energy vehicles reached RMB 24,934.089 million, with a remarkable year-on-year increase of 482.8%, accounting for 73.1% of total revenue[17]. - The cumulative production and sales of new energy vehicles were 139,000 units and 135,000 units, respectively, with year-on-year growth rates of 233.6% and 225.9%[17]. - The company reported a basic earnings per share of -¥2.68 for 2022, compared to -¥1.38 in 2021[10]. - The company's net profit attributable to the parent company for 2022 was 177.54 million RMB, which did not meet the performance commitment of 200 million RMB for that year[158]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the 2022 fiscal year[2]. - The company held five temporary shareholder meetings in 2022, all resolutions were passed without any objections[99]. - The board of directors consists of 12 members, including 4 independent directors, ensuring compliance with legal and regulatory requirements[98]. - The company has established a robust communication mechanism with independent directors to enhance decision-making processes[98]. - The total remuneration for all directors, supervisors, and senior management amounted to 29.3571 million yuan at the end of the reporting period[112]. - The company has maintained a transparent voting process during shareholder meetings, with legal witnesses present to ensure compliance[99]. - The company has no record of penalties from securities regulatory agencies in the past three years[112]. Research and Development - Research and development expenses increased significantly in 2022 as the company focused on achieving technological leadership in electric vehicles[10]. - The company is focusing on enhancing its R&D capabilities in smart connectivity, autonomous driving, and software development[57]. - The company has established a talent incentive mechanism to strengthen its R&D team, which is becoming younger and more educated[57]. - R&D expenses totaled ¥3,105,863,996.53, accounting for 9.11% of revenue, with 84.00% of R&D costs capitalized[54]. - The number of R&D personnel increased by 1,159, a 38.39% year-on-year growth, with 90% holding a bachelor's degree or higher[56]. Market and Product Development - The company is focused on the development of electric vehicles and advanced technologies such as OTA and ICT[7]. - The company achieved sales of nearly 80,000 units of its high-end electric vehicles in its first year of market launch[10]. - The company launched and delivered three high-end smart new energy vehicle models within a year, achieving rapid market penetration[19]. - The company plans to launch the flagship SUV AITO Wenjie M9 in the second half of 2023, aiming to enhance its market share and competitive strength in the high-end smart electric vehicle segment[31]. - The company aims to enhance its core competitiveness in R&D by increasing investment in new energy vehicle technology[22]. Environmental and Social Responsibility - The company invested approximately 32.22 million yuan in environmental protection measures during the reporting period[133]. - The company is committed to energy-saving measures, including the replacement of high-efficiency motors and the installation of energy control systems[146]. - The company has initiated a water reuse project to reduce wastewater discharge and upgraded painting workshop exhaust treatment equipment to lower volatile organic compounds emissions[147]. - The company invested a total of 459.82 million yuan in poverty alleviation and rural revitalization projects, benefiting 12,000 people[151]. - The company contributed 1,543.22 million yuan to public welfare projects, benefiting 100,000 people[152]. Financial Management and Investments - The company has a total loan application amount of up to 1 billion RMB from its controlling shareholder, with an annual interest rate of 3.7%[165]. - The company has reported a total of 14,039.50 million RMB in deposits from related parties, with a year-end balance of 432,608.02 million RMB[166]. - The company has engaged in daily related transactions, which were approved in board meetings held in December 2021 and January 2022[161]. - The company has entrusted 350,000,000 RMB of idle raised funds for cash management, with an unexpired balance of 259,999,000 RMB as of December 31, 2022[173]. - The company has issued convertible bonds totaling RMB 1.5 billion, with a maturity of 6 years, approved by the China Securities Regulatory Commission[193]. Risk Management - The company has outlined potential risks in its future development plans, which investors should be aware of[4]. - The company is addressing potential risks such as macroeconomic uncertainties, intensified market competition, and raw material supply shortages[95]. - The company plans to enhance its operational management system to ensure efficient and compliant business development, focusing on risk control and operational efficiency[93]. Supply Chain and Production - The company has established a comprehensive supply chain management system, collaborating with leading suppliers like CATL and Bosch to enhance product delivery quality[21]. - The production facilities are equipped with 100% automation in key processes, significantly improving production efficiency and product quality[32]. - The company has formed deep partnerships with industry leaders like CATL and Bosch, creating a collaborative ecosystem across the supply chain[33]. Future Outlook - The company has set a future outlook with a revenue growth target of 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[106]. - The company plans to expand its market presence in Southeast Asia, aiming for a 20% increase in market share by the end of the next fiscal year[106]. - The company is committed to achieving its "dual carbon" goals and enhancing its core competitiveness in intelligent and connected vehicles[87].