Elegant(603221)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥798.95 million, a decrease of 25.92% compared to ¥1,078.47 million in 2021[21]. - The net profit attributable to shareholders was a loss of approximately ¥35.64 million, a decline of 706.12% from a profit of ¥5.88 million in 2021[21]. - The company reported a decrease in revenue from its main business activities, with a total of approximately ¥796.34 million, down 25.99% from the previous year[21]. - The basic earnings per share for 2022 was -0.15 CNY, a decrease of 850% compared to 0.02 CNY in 2021[23]. - The diluted earnings per share for 2022 was also -0.15 CNY, reflecting the same 850% decline from the previous year[23]. - The weighted average return on equity decreased to -2.52% in 2022, down 2.93 percentage points from 0.41% in 2021[23]. - The company achieved a non-recurring profit of approximately 10.68 million CNY in 2022, compared to 10.48 million CNY in 2021[27]. - The company reported a gross margin of -11.16% for floating floors, with a revenue decrease of 24.08%[102]. - The company reported a significant increase in revenue, reaching 1.2 billion yuan, representing a 15% year-over-year growth[142]. Cash Flow and Assets - The cash flow from operating activities was approximately ¥61.93 million, a significant improvement from a negative cash flow of ¥18.09 million in 2021[22]. - The total assets increased by 7.44% to approximately ¥2.01 billion at the end of 2022, compared to ¥1.87 billion at the end of 2021[22]. - The net assets attributable to shareholders decreased by 2.76% to approximately ¥1.39 billion at the end of 2022[22]. - Cash and cash equivalents decreased by 45.30% to 211,078,307.21, accounting for 10.53% of total assets[95]. - Accounts receivable decreased by 19.25% to 132,059,210.41, representing 6.59% of total assets[95]. - Inventory decreased by 25.27% to 198,264,762.41, which is 9.89% of total assets[95]. - Fixed assets increased by 41.22% to 974,854,581.86, now comprising 48.61% of total assets[95]. - The company's overseas assets amounted to 304,727,363.43, representing 15.2% of total assets[97]. Market and Product Development - The company is focused on expanding its market presence and enhancing operational efficiency through smart manufacturing and data analytics[29]. - The company has established a joint venture in North America with HMTX to enhance its production capacity, which is currently in trial production and aims to improve supply chain efficiency and resilience[32]. - The company is focusing on R&D to transition from a labor-intensive model to a technology-driven approach, increasing investment in core technology integration[33]. - The introduction of SPC fishbone flooring is expected to become a new profit growth point, alongside the development of new elastic floor locking mechanisms to enhance installation ease for DIY customers[34]. - The domestic market for PVC elastic flooring is still in the introduction phase, with increasing consumer preference for eco-friendly and convenient flooring solutions[35]. - The company aims to enhance its position in the global mid-to-high-end elastic flooring market through its North American production base and digital transformation strategies[32]. - The company has established a wholly-owned subsidiary for domestic trade to explore new sales models and has built a dealer system to enhance customer resource accumulation[35]. - The company has developed unique patent technology for floating floors in collaboration with client VERTEX, leading to further innovations[74]. Research and Development - The company has established a high-level R&D platform for PVC elastic flooring, enhancing its product development capabilities[74]. - The company has 142 R&D personnel, representing 13% of the total workforce[91]. - Research and development expenses amounted to ¥25,021,531.75, which is 3.13% of total revenue[90]. - The company plans to increase R&D investment to enhance its core technology integration and transition from a labor-intensive to a technology-driven business model[112]. Governance and Compliance - The company maintains a strong governance structure, ensuring clear responsibilities among its board, supervisory board, and management[127]. - The company has established a comprehensive information disclosure management system to ensure the accuracy and completeness of information released, enhancing the quality of disclosures[134]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[135]. - The company has implemented a mechanism for external information feedback and public opinion management to enhance market responsiveness[134]. Environmental and Social Responsibility - The company invested 4.6515 million yuan in environmental protection during the reporting period[174]. - The company reported a total wastewater discharge of 564 tons in 2022, with treatment facilities operating well[177]. - The company emitted 178,345.24 cubic meters of waste gas in 2022, with sufficient treatment capacity[177]. - The company generated 44.695 tons of hazardous waste and 179.22 tons of general solid waste, all disposed of properly[177]. - The company’s PVC elastic flooring products are recognized for their environmental benefits, being recyclable and non-toxic[181]. - The company has developed and filed an emergency response plan for environmental incidents, regularly conducting drills[179]. - The company implemented carbon reduction measures resulting in a total reduction of 1,858 tons of CO2 equivalent emissions[182]. Shareholder and Financial Strategies - The company plans not to distribute profits or increase capital reserves for the year 2022, pending shareholder approval[6]. - The company has established a cash dividend policy, prioritizing cash dividends over stock dividends, with a detailed plan approved in 2018[164]. - The company plans to repurchase shares to stabilize stock prices, with the repurchase price not exceeding the audited net asset value per share from the previous fiscal year[190]. - The total amount used for share repurchase will not exceed the net amount raised from the company's initial public offering[191]. - The company will ensure that any repurchase or increase in shareholding complies with relevant laws and regulations[192].