Suzhou Longjie(603332)2023-04-24 16:00Financial Performance - The net profit for 2022 was -50,406,581.03 CNY, indicating a loss for the year[6]. - The company's operating revenue for 2022 was CNY 1,066,207,103.64, a decrease of 0.55% compared to CNY 1,072,150,905.23 in 2021[22]. - The net profit attributable to shareholders was a loss of CNY 50,406,581.03, representing a decline of 236.45% from a profit of CNY 36,940,988.46 in the previous year[24]. - The net cash flow from operating activities was negative CNY 60,776,424.62, down 153.26% from CNY 114,114,140.96 in 2021[25]. - Basic earnings per share were CNY -0.30, a decrease of 236.36% compared to CNY 0.22 in 2021[24]. - The company's total assets at the end of 2022 were CNY 1,546,437,545.70, down 5.55% from CNY 1,637,282,324.51 at the end of 2021[22]. - The weighted average return on equity was -3.84%, a decrease of 6.58 percentage points from 2.74% in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY -67,529,425.71, a decline of 528.69% from CNY 15,752,513.14 in 2021[22]. Profit Distribution - The proposed profit distribution plan includes a cash dividend of 1.0 CNY per 10 shares (tax included) and a capital reserve conversion of 3 shares for every 10 shares held[6]. - The company plans to submit the profit distribution proposal to the 2022 annual general meeting for approval[6]. - The profit distribution for the period included a distribution to owners (or shareholders) amounting to 35,681,400.00[200]. Risks and Challenges - The company has detailed potential risks in the report, which investors should review[8]. - The report includes a risk statement regarding forward-looking statements, advising investors to be cautious[7]. - The polyester market environment deteriorated significantly in 2022, with product prices showing a downward trend in the second half of the year due to weak terminal demand[29]. - The company faced increased raw material costs due to fluctuations in international oil prices, impacting production and sales margins[25]. - The overall polyester market in 2022 was characterized by high costs and increased supply pressures, resulting in a significant decline in industry profitability[32]. - The company faces risks from macroeconomic changes that could impact the polyester filament industry and its profitability[85]. - The company is exposed to operational risks, including potential declines in product demand and increased competition in the differentiated polyester filament market[86]. Research and Development - Research and development expenses amounted to ¥46,818,631.34, a decrease of 2.54% from the previous year[42]. - The company has maintained a leading position in the development of faux fur fibers, with significant improvements in the quality of faux suede fibers and successful development of new composite fibers[31]. - The company has developed a series of high-value-added polyester filament products, including ultra-realistic animal fur fibers and ultra-fine PTT fibers, enhancing its market share in differentiated products[36]. - The company aims to enhance its product innovation capabilities and develop high-value-added products, including ultra-simulated, high-performance, multifunctional, and environmentally friendly fibers[82]. - The company plans to leverage its high-tech differentiated fiber engineering research center to deepen the development of products like PTT fibers and regenerated eco-friendly fibers[83]. Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company reported no major legal violations or irregularities during the reporting period[90]. - The company is committed to enhancing its governance in accordance with the Company Law and Securities Law, ensuring effective operation of its governance structure[89]. Environmental Responsibility - The company received an administrative penalty from the Suzhou Ecological Environment Bureau in August 2022, indicating a significant environmental violation[76]. - The company has implemented various pollution control measures, including an organic waste gas treatment system and a wastewater treatment facility[125]. - The company has reduced carbon emissions by 4,061 tons through measures such as replacing diesel forklifts with electric ones and using biomass-based materials[128]. - The company has established a comprehensive environmental monitoring system, including online monitoring for wastewater discharge connected to government oversight[126]. Shareholder Information - The largest shareholder, Zhangjiagang Longjie Investment Co., Ltd., holds 86,240,000 shares, accounting for 51.79% of the total shares[164]. - Shareholder Xi Wenjie and Xi Liang each hold 5,297,600 shares, representing 3.18% of the total shares[164]. - The company has not reported any changes in its asset and liability structure during the reporting period[160]. - The total number of ordinary shareholders increased to 15,322 by the end of the reporting period, up from 14,359 at the end of the previous month[161]. Financial Management - The company has invested CNY 1,267,000,000 in bank wealth management products using its own funds, with an outstanding balance of CNY 420,000,000 as of December 31, 2022[146]. - The company’s financial management strategy includes a focus on structured deposits and investment products to enhance returns for shareholders[148]. - The annualized return on entrusted financial management was reported at 1.50% to 1.88% across various financial products[148]. Audit and Internal Controls - The audit report issued by Gongzheng Tianye Certified Public Accountants is a standard unqualified opinion[5]. - The internal control audit report concluded that the company maintained effective financial reporting internal controls in all material aspects[122]. - The management is responsible for ensuring the financial statements are free from material misstatement due to fraud or error, emphasizing the importance of internal controls[181].