ZHEFU(002266)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was ¥16,779,792,003.74, representing an increase of 18.56% compared to ¥14,135,008,245.07 in 2021 [15]. - The net profit attributable to shareholders for 2022 was ¥1,466,633,703.82, a decrease of 36.53% from ¥2,311,838,958.76 in 2021 [15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,465,829,245.98, down 20.39% from ¥1,842,252,747.16 in 2021 [15]. - The net cash flow from operating activities for 2022 was ¥414,074,094.62, a significant increase of 911.16% compared to -¥51,047,145.71 in 2021 [15]. - The total assets at the end of 2022 were ¥24,620,935,482.75, an increase of 18.47% from ¥20,782,605,828.85 at the end of 2021 [15]. - The net assets attributable to shareholders at the end of 2022 were ¥10,614,668,038.21, up 9.58% from ¥9,688,080,537.08 at the end of 2021 [15]. - The basic earnings per share for 2022 were ¥0.27, a decrease of 37.21% from ¥0.43 in 2021 [15]. - The diluted earnings per share for 2022 were also ¥0.27, reflecting the same decrease of 37.21% from ¥0.43 in 2021 [15]. - The weighted average return on equity for 2022 was 14.47%, down 12.09% from 26.57% in 2021 [15]. - The total operating revenue for 2022 reached approximately CNY 16.78 billion, representing an 18.56% increase from CNY 14.15 billion in 2021 [53]. Dividend Distribution - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares to all shareholders, based on a total of 5,344,875,699 shares [2]. - The company has not proposed any stock bonus or capital increase from reserves in the profit distribution plan [2]. - The total cash dividend distributed to shareholders is RMB 320,692,541.94, which accounts for 100% of the distributable profit of RMB 881,258,991.99 [138]. - The company has a profit distribution policy that mandates a minimum of 20% of the distributable profit to be distributed as cash dividends annually, with a cumulative distribution of at least 30% over three years [134]. Corporate Governance - The company emphasizes the importance of independent operations and governance, ensuring no interference from controlling shareholders in its decision-making processes [103]. - The board of directors consists of 10 members, including 4 independent directors, ensuring compliance with legal and regulatory requirements [103]. - The company has established four specialized committees within the board to provide scientific and professional opinions for decision-making [103]. - The company has a dedicated securities department that ensures timely and accurate information disclosure to all shareholders, maintaining transparency [104]. - The company has established a clear framework for internal governance, aligning with the regulations set by the China Securities Regulatory Commission [104]. - The company has a comprehensive corporate governance structure and internal control system to protect shareholder rights, ensuring transparency and participation in major decisions [158]. Environmental Sustainability - The company achieved a reduction of 380 tons in solid waste emissions, 0.14 tons in SO2 emissions, and 3.5 tons in CO2 emissions, contributing to its sustainability goals [22]. - The company has invested over 90 million yuan in 2022 for ultra-low emissions projects, including SCR systems and RTO systems [154]. - The company has implemented measures to ensure compliance with environmental laws and standards, reflecting a commitment to sustainability [147]. - The company has established an emergency response plan for environmental incidents, which was filed with local environmental authorities [156]. - The company has conducted a total of 5 environmental emergency drills in 2022, including 1 company-level and 4 workshop-level drills [155]. Market Position and Strategy - The company is positioned in the clean energy equipment sector, benefiting from the national "14th Five-Year" modern energy system plan aimed at promoting low-carbon energy development [26]. - The company is actively expanding its clean energy and environmental protection business segments [29]. - The company is one of the largest private clean energy equipment manufacturers in China and is actively expanding its clean energy business [96]. - The company has established strategic partnerships with major energy developers to enhance its competitive edge in the clean energy sector [96]. - The company aims to maintain a robust pipeline of contracts to ensure sustained revenue growth in the coming years [200]. Research and Development - Research and development investment amounted to CNY 658,562,543.41, a decrease of 2.99% from the previous year, representing 3.92% of operating revenue [68]. - The company has invested 50 million RMB in R&D for advanced technologies, aiming to improve efficiency and sustainability in its product offerings [117]. - The company has established partnerships with two leading universities for collaborative research, which is expected to yield innovative solutions in the next 18 months [117]. - The company has completed the research and development of key technologies for large-scale hydropower equipment, achieving full localization and enhancing market share [64]. Risk Management - The company has a clear strategy for risk management and internal auditing as part of its internal control framework [140]. - The company has implemented a hedging strategy for commodity futures to mitigate risks associated with price fluctuations, enhancing financial stability [84]. - The company’s risk management measures for foreign exchange derivatives include careful selection of trading structures and counterparties to minimize credit risk [85]. - The company has committed to strict adherence to all regulatory requirements and internal governance standards [165]. Shareholder Engagement - The company actively engages with investors through various communication channels, including online meetings and phone calls, to discuss its development history and future plans [100][102]. - The company respects and protects the rights of stakeholders, actively engaging in communication to balance interests among shareholders, employees, and society [104]. - The company has established a performance evaluation and incentive constraint system, linking the income of operators to business performance [104]. Subsidiaries and Investments - The company’s major subsidiaries include Zhejiang Fu Water Power Company, which generated a net profit of 76,186.12 million, and Hudu Nuclear Equipment Company, with a net profit of 82,403.29 million [88]. - The company established two new subsidiaries, Jiangxi Fuli Company and Zili New Energy Company, to expand its industrial layout, with no significant impact on current performance [89]. - The company has not engaged in speculative derivative investments during the reporting period [86]. Compliance and Legal Matters - The company has not faced any regulatory penalties or issues in the past three years, maintaining a strong compliance record [119]. - The company has not faced any significant lawsuits or arbitration cases that could impact its operations [165]. - The company has committed to protecting the rights of minority investors and ensuring independent decision-making processes [169].