SHHDKJ(SH:603192)2023-04-19 16:00Financial Performance - The company's operating revenue for 2022 was CNY 3,017,258,442.80, a decrease of 5.46% compared to CNY 3,191,417,631.67 in 2021[21]. - The net profit attributable to shareholders of the listed company was CNY 61,767,130.65, down 47.58% from CNY 117,826,896.66 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 56,838,301.59, a decrease of 49.65% compared to CNY 112,880,649.28 in 2021[21]. - The net cash flow from operating activities was CNY 57,328,995.58, down 77.69% from CNY 256,956,040.76 in the previous year[21]. - Total assets at the end of 2022 were CNY 2,291,138,853.46, a decrease of 10.65% from CNY 2,564,102,479.79 at the end of 2021[21]. - The net assets attributable to shareholders of the listed company increased by 2.14% to CNY 1,395,730,563.59 from CNY 1,366,523,489.79 at the end of 2021[21]. - Basic earnings per share dropped by 54.55%, and diluted earnings per share also decreased by 54.55%[24]. - The weighted average return on equity decreased to 4.48%, down 4.39 percentage points from the previous year[24]. - Operating cash flow net amount decreased by 77.69% year-on-year, primarily due to increased payments for raw materials[24]. - The gross profit margin for the main business was 10.27%, down 0.85 percentage points compared to the previous year, primarily due to a decline in product prices not fully offsetting the drop in raw material costs[46]. Sales and Market Performance - Sales volume declined by 6.20%, contributing to the overall decrease in profit margins[24]. - The company achieved a sales target of 3 billion yuan, focusing on market share and production-sales balance[34]. - The company faced intensified competition and a rapid decline in commodity prices, impacting product pricing negatively[34]. - The company reported a total revenue of ¥3,017,258,442.80 for 2022, a decrease of 5.46% year-on-year, with main business revenue at ¥2,835,305,159.66, down 6.83%[35]. - The sales volume of synthetic leather polyurethane decreased by 7.11% to 159,500 tons, while sales volume of elastic body and raw liquid increased by 28.32% to 13,500 tons[41]. - The company reported a revenue of 2,750.53 million RMB from polyurethane products, with a gross margin of 9.89%, reflecting a year-over-year decrease in revenue by 9.18%[93]. - Direct sales accounted for 2,835.31 million RMB in revenue, showing a decline of 6.83% compared to the previous year[95]. Research and Development - The company applied for 8 invention patents and obtained 13 authorized invention patents and 18 utility model patents during the reporting period[37]. - The company aims to explore new revenue and profit growth points by optimizing its organizational structure and enhancing the alignment between R&D and market needs[36]. - Research and development expenses accounted for over 3.5% of operating revenue for the past three years, with CNY 97.79 million spent in 2022, a decrease of 13.56% from the previous year[45][49]. - The company’s research and development efforts are focused on both forward-looking innovations and market application solutions, ensuring alignment with market demands[81]. - The company has maintained a research and development expense ratio of over 3.5% of revenue for the past three years, reflecting its commitment to innovation[83]. Environmental and Safety Management - The company has established an environmental protection mechanism and is actively monitoring its pollution discharge[160]. - The company has a wastewater treatment capacity of 200 tons/day and has implemented a chemical precipitation method combined with secondary deep treatment, achieving compliance with Shanghai's wastewater discharge standards[164]. - The company reported VOC emissions of 72.10mg/m3, which is below the standard limit of 100mg/m3[163]. - The company has established a comprehensive environmental pollution control management system and conducts regular emergency drills for environmental pollution incidents[175]. - The company has invested CNY 1,417.58 million in environmental protection during the reporting period[160]. Corporate Governance and Management - The board of directors includes experienced professionals with backgrounds in finance, engineering, and management, ensuring strong governance[126]. - The company has undergone a board restructuring, with new independent directors appointed following the term expiration of previous members[134]. - The management team is committed to maintaining transparency and accountability in financial reporting and corporate governance[126]. - The company has established a performance management system to determine employee performance bonuses based on assessment results[146]. - The company has implemented a strict management system for its subsidiaries to ensure effective control[156]. Future Outlook and Strategy - The company aims to achieve sales revenue of over 3.5 billion RMB in 2023, focusing on enhancing sales performance and market share[109]. - The company plans to actively expand its market presence in the automotive and new energy sectors, leveraging its research and development capabilities[37]. - The company plans to increase R&D investment and expand applications in ecological and low-carbon materials over the next three to five years[107]. - The overall performance outlook for the next fiscal year remains positive, with expectations of continued growth in revenue and market share[126]. - The company is actively pursuing mergers and acquisitions to enhance its competitive position in the market[126]. Related Party Transactions - The company committed to avoiding and reducing related party transactions with Huide Technology, ensuring transactions are conducted with independent third parties[179]. - The company guarantees that no improper benefits will be obtained through related party transactions, and any losses incurred by Huide Technology due to violations will be borne by the company[180]. - The company has not engaged in any direct or indirect competition with Huide Technology or its subsidiaries, ensuring no investments in competing businesses[181]. - The company has established a clear pricing mechanism for transactions, adhering to government pricing where applicable, or using market fair prices otherwise[181]. Financial Management - The company plans to apply for a credit limit from banks as part of its financial strategy[136]. - The company provided guarantees totaling RMB 700 million to its subsidiaries during the reporting period, with a year-end balance of RMB 132.5 million[200]. - The total amount of guarantees, including those to subsidiaries, was RMB 132.5 million, representing 9.49% of the company's net assets[200]. - The company has reported on the use of raised funds in its annual report, ensuring transparency in financial operations[136]. - The company has committed to providing guarantees for its wholly-owned subsidiaries as part of its financial management[136].