XUSHENG(603305)2023-03-07 16:00Financial Performance - The company's operating revenue for 2022 was approximately CNY 4.45 billion, representing a 47.31% increase compared to CNY 3.02 billion in 2021[25]. - The net profit attributable to shareholders for 2022 was approximately CNY 701.25 million, a 69.70% increase from CNY 413.22 million in 2021[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 654.11 million, reflecting a 69.57% increase from CNY 385.76 million in 2021[25]. - The net cash flow from operating activities for 2022 was approximately CNY 375.37 million, a slight decrease of 0.70% compared to CNY 378.03 million in 2021[25]. - Basic earnings per share for 2022 reached CNY 1.10, an increase of 66.67% compared to CNY 0.66 in 2021[26]. - The weighted average return on equity rose to 16.31%, an increase of 4.22 percentage points from 12.09% in 2021[26]. - Operating profit reached ¥784,378,463.41, reflecting a growth of 68.05% compared to the previous year[78]. - Net profit amounted to ¥700,183,449.52, marking a 69.73% increase year-on-year[78]. Assets and Liabilities - The company's total assets at the end of 2022 were approximately CNY 9.62 billion, a 17.68% increase from CNY 8.18 billion at the end of 2021[25]. - The net assets attributable to shareholders at the end of 2022 were approximately CNY 5.61 billion, a 53.63% increase from CNY 3.65 billion at the end of 2021[25]. - The total liabilities amounted to approximately 3.99 billion, a decrease from 4.52 billion in the previous year[169]. - The total owner's equity reached approximately 5.62 billion, up from 3.65 billion year-over-year[169]. - The company's fixed assets increased by 62.64% to CNY 2,923,074,364.42, primarily due to the completion of factory buildings and equipment capitalization[103]. - Accounts receivable rose by 30.77% to CNY 1,268,352,977.46, attributed to the expansion of business scale within the company's credit policy[103]. - Inventory increased by 46.05% to CNY 1,344,345,940.61, driven by the growth in sales and corresponding production scale[103]. Market and Industry Trends - The global electric vehicle market saw a 56% increase in sales in 2022, reaching 10.52 million units, with China, Europe, and the U.S. accounting for 94.76% of total sales[53]. - China's new energy vehicle production surged from 78,000 units in 2014 to 7.058 million units in 2022, with a year-on-year growth of 96.9% in production and 93.4% in sales[54]. - The demand for aluminum in China's automotive industry is expected to increase significantly, with the per vehicle aluminum usage projected to reach 242 kg by 2030, up from 138 kg in 2020, reflecting a growth of 75.4%[42]. - The automotive lightweighting trend is driven by stricter carbon emission standards, with a reduction of 100 kg in vehicle weight leading to a decrease in fuel consumption by 0.4L per 100 km[49]. Research and Development - R&D investment for 2022 was CNY 173 million, representing a growth of over 30% compared to the previous year[40]. - The company has over 200 valid patents, including 20 invention patents, showcasing its commitment to innovation and technology advancement[40]. - Research and development expenses increased by 33.88% to ¥173,077,576.29, indicating a focus on innovation[80]. - The number of R&D personnel was 558, making up 12.70% of the total workforce[97]. Corporate Governance and Shareholder Returns - The company emphasizes enhancing governance and shareholder returns, maintaining transparent communication with investors[51]. - The company has a cash dividend policy prioritizing reasonable returns for investors, especially small and medium shareholders, with a focus on sustainable development from 2023 to 2025[181]. - The company plans to conduct cash dividends annually, subject to meeting cash dividend conditions, with the board able to propose mid-term cash distributions based on profitability and cash flow[195]. - The company aims to implement a continuous, stable, and proactive profit distribution policy, balancing reasonable returns to investors with sustainable development[200]. Strategic Initiatives - The company plans to expand its market presence and explore new investment opportunities as part of its growth strategy[169]. - The company aims to leverage the rapid development of the new energy industry, focusing on lightweight solutions and expanding its market presence in North America, Asia-Pacific, and Europe[43]. - The company has established long-term stable relationships with alloy aluminum suppliers, ensuring a sufficient supply of raw materials for its precision aluminum alloy components[67]. - The company plans to increase its product offerings in the energy storage sector, leveraging its existing customer base in the new energy vehicle market[60].