TENGEN(605066)2023-04-27 16:00Financial Performance - The company reported a distributable profit of ¥530,027,655.85 as of December 31, 2022, with a proposed cash dividend of ¥2.5 per 10 shares, totaling ¥100,250,000[6]. - The company's operating revenue for 2022 was ¥2,436,879,126.36, a decrease of 16.60% compared to ¥2,921,911,560.93 in 2021[25]. - The net profit attributable to shareholders for 2022 was ¥45,125,976.65, down 58.58% from ¥108,941,777.10 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥32,458,807.00, a decrease of 55.76% from ¥73,367,819.06 in 2021[25]. - The basic earnings per share for 2022 were ¥0.11, a decline of 59.26% from ¥0.27 in 2021[26]. - The weighted average return on net assets for 2022 was 2.59%, down 3.43 percentage points from 6.02% in 2021[26]. - The total assets at the end of 2022 were ¥3,055,240,214.83, a decrease of 6.42% from ¥3,264,756,581.57 at the end of 2021[25]. - The company reported a significant drop in net profit compared to 2020, where the net profit was ¥246,828,267.77[25]. - The company experienced a significant decline in net profit for the year, with a total of ¥4.51 million, down 58.58% year-over-year, primarily due to reduced demand from the construction sector and increased impairment provisions for receivables[37]. Cash Flow and Assets - The net cash flow from operating activities increased by 146.59% to ¥117,828,473.74 in 2022, compared to ¥47,782,878.63 in 2021[25]. - The company reported a net cash flow from operating activities of ¥120.21 million in Q3, contrasting with a negative cash flow of ¥55.63 million in Q1[29]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥732,012,117.39, representing 23.96% of total assets, a decrease of 10.38% compared to the previous period[84]. - Accounts receivable totaled ¥718,632,273.53, accounting for 23.52% of total assets, down 11.31% due to a decline in revenue[84]. - Inventory decreased by 24.85% to ¥267,207,150.65, which is 8.75% of total assets, primarily due to a reduction in finished goods[84]. - Fixed assets increased by 40.58% to ¥505,289,318.36, representing 16.54% of total assets, mainly due to the conversion of investment assets to fixed assets[84]. Shareholder Information - The total share capital of the company is 401,000,000 shares as of December 31, 2022[6]. - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares, totaling 100,250,000 RMB (including tax) based on a total share capital of 401,000,000 shares as of December 31, 2022[133]. - The total number of shares decreased from 404,038,000 to 401,000,000, a reduction of 3,038,000 shares[191]. - The proportion of limited sale shares decreased from 43.50% to 43.08%, while the proportion of unrestricted circulating shares increased from 56.50% to 56.92%[190]. - The number of shareholders increased from 27,567 to 28,577 during the reporting period[197]. - The top ten shareholders hold a total of 182,000,000 shares, accounting for 45.29% of the total shares[199]. - The company has a notable shareholder relationship, with Gao Tianle and Gao Xiao being father and son, both acting in concert[200]. - The largest shareholder, Gao Tianle, controls 63.05% of Tianzheng Group, which is the actual controller of the company[200]. Corporate Governance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has not faced any penalties from securities regulatory authorities in the past three years[117]. - The board approved the termination of the 2020 restricted stock incentive plan and the repurchase of unvested restricted stocks[117]. - The company has established a performance evaluation and incentive mechanism for senior management, linking their performance to operational responsibilities and risks[103]. - The independent directors actively participate in key decisions, ensuring the protection of minority shareholders' rights[104]. - The company has implemented strict information disclosure practices, ensuring all shareholders have equal access to information[104]. - The supervisory board is responsible for overseeing the legality and compliance of the company's financial activities[103]. Strategic Focus and Market Position - The company achieved over 100% growth in revenue from the renewable energy sector, particularly with major clients like China Datang and State Power Investment Corporation[38]. - The company plans to continue expanding in the new energy and power sectors, where revenue growth has been strong[67]. - The company aims to become a global leader in smart low-voltage electrical solutions, transitioning from a sales-oriented to a product-market-oriented enterprise[93]. - The company is implementing a "lean + smart manufacturing" strategy to improve product delivery capabilities and competitive quality[99]. - The company has established strategic partnerships with over 30 major real estate companies, achieving an 80% market share for its domestic components in Poly Real Estate[40]. - The company plans to enhance service quality across the entire product lifecycle, expanding from basic maintenance to predictive operations and digital transformation services[90]. Research and Development - R&D expenses increased by 6.27% year-on-year, with 247 patent applications filed, including 45 invention patents, and 213 patents granted[41]. - The company focused on new energy and smart grid sectors, completing the development of several key products, including smart photovoltaic grid connection boxes and high-voltage circuit breakers[42]. - The company has established a research institute and R&D center to separate technology development from product development, improving response to customer needs[58]. - The company invested CNY 140.06 million in R&D, an increase of 6.27% year-on-year, to enhance innovation capabilities[67]. Risk Management - The company faces risks from macroeconomic changes, fluctuating raw material prices, and rising labor costs, which could impact profitability[100]. - The company has not disclosed any significant risks that could affect its future development[10]. - The company has established measures to prevent future competition with its controlled entities[156]. Environmental and Social Responsibility - The company emphasizes social responsibility and environmental protection in its operations[104]. - Carbon reduction measures were implemented, including the establishment of an energy management center and a photovoltaic power station project[144]. - The company donated a total of 120,000 yuan to educational foundations over three years, supporting scholarships for students[144].