LETS(002398)2023-03-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥3,946,674,021.22, a decrease of 19.75% compared to ¥4,917,751,276.18 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥210,829,739.32, down 22.46% from ¥271,901,349.50 in 2021[21]. - Basic and diluted earnings per share for 2022 were both ¥0.30, a decrease of 21.05% from ¥0.38 in 2021[22]. - The total assets at the end of 2022 were ¥6,398,998,660.54, a decrease of 1.75% from ¥6,512,855,123.78 at the end of 2021[22]. - The net assets attributable to shareholders increased by 5.97% to ¥3,616,293,055.98 at the end of 2022, compared to ¥3,412,570,824.06 at the end of 2021[22]. - The company reported a total non-operating income of CNY 26,816,726.10, a decrease of 15.5% compared to CNY 31,648,237.81 in 2021[28]. - The company recognized government subsidies amounting to CNY 25,332,344.90 in 2022, slightly down from CNY 26,808,743.15 in 2021[28]. - The fair value changes from trading financial assets and liabilities generated a profit of CNY 9,099,796.07 in 2022, an increase of 50.8% from CNY 6,024,698.47 in 2021[28]. - The company achieved total operating revenue of CNY 3.95 billion, a decrease of 19.75% compared to CNY 4.92 billion in 2021[48]. - The revenue from the new building materials segment was CNY 3.12 billion, down 20.82% from CNY 3.95 billion in the previous year, accounting for 79.16% of total revenue[48]. Cash Flow and Investments - The cash flow from operating activities increased by 30.60% to ¥419,971,902.56 in 2022, compared to ¥321,576,270.71 in 2021[22]. - Net cash flow from operating activities increased by 30.60% to ¥419,971,902.56, primarily due to increased sales collections[63]. - Net cash flow from investing activities decreased by 800.12% to -¥411,545,977.18, mainly due to increased cash outflow for financial investments[62]. - Net cash flow from financing activities increased by 81.18% to ¥667,193,852.39, attributed to funds raised from the public issuance of convertible bonds[63]. - The company raised a total of RMB 396,300,000 through the issuance of convertible bonds, with a net amount of RMB 390,460,551.88 after deducting issuance costs[78]. - The company utilized RMB 251,201,400 of the raised funds during the reporting period, with bank interest income of RMB 899,400[78]. Risk Management - The company faces risks including market conditions, raw material price fluctuations, labor costs, and industry competition[5]. - The company has a comprehensive risk management strategy to address potential market and operational risks[5]. - The company’s future development outlook includes strategies to mitigate identified risks and enhance operational efficiency[5]. - The company has not reported any significant differences in financial data between international and Chinese accounting standards during the reporting period[23]. Corporate Governance - The company maintains a strict governance structure in compliance with relevant laws and regulations, ensuring no discrepancies between actual practices and regulatory requirements[100]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[101]. - The company has a dedicated audit committee, nomination committee, and compensation committee, all led by independent directors, to enhance governance oversight[102]. - The company emphasizes transparency and timely information disclosure, adhering to its information disclosure system and investor relations management[103]. - The company has established an independent financial department with a standardized accounting system and financial management policies, ensuring effective control over subsidiaries and branches[105]. Environmental Compliance - The company reported a nitrogen oxide emission level of 64.5 mg/m³ from its boiler, adhering to the GB13271-2014 standard[153]. - The total hydrocarbon emission for the company was recorded at 4.53 mg/m³, in compliance with the DB35/1782-2018 standard[154]. - The ammonia emission concentration was measured at 1.68 kg/h, meeting the GB16297-1996 standard[154]. - The company achieved a sulfur emission level of 12 mg/m³, which is within the GB13271-2014 regulatory limits[153]. - The wastewater discharge met the GB/T31962-2015 standard, with ammonia nitrogen levels at 2.62 mg/L[154]. - The company has implemented measures to ensure that all emissions are within the regulatory limits, with no instances of exceeding the allowable thresholds reported[153]. Research and Development - The company has established a robust research and development base covering 37 acres, with a research building area of nearly 20,000 square meters, supporting its innovation strategy[38]. - The company completed multiple R&D projects aimed at enhancing product competitiveness, including the development of new concrete additives and technologies[58]. - The company is advancing in the development of high-temperature self-defensive polycarboxylate superplasticizers, which are expected to improve export capabilities[58]. - R&D investment amounted to ¥187,902,920.84 in 2022, representing 4.76% of operating revenue, an increase of 0.94% from the previous year[60]. - The company launched 125 new technology projects and received 4 technology awards during the reporting period[44]. Market Expansion and Strategy - The company aims to enhance its market share in the concrete admixture sector, focusing on high-margin and high-value-added products in 2023[91]. - The company plans to expand its market presence in key regions such as the Yangtze River Delta, Pearl River Delta, and Southwest China, leveraging new production capacity in various provinces[91]. - The company is committed to digital transformation in the construction industry, utilizing technologies like BIM, IoT, and big data to provide integrated digital services[90]. - The company is exploring strategic acquisitions to bolster its market position and diversify its product portfolio, with potential targets identified in the industry[112]. Employee Management - The total number of employees at the end of the reporting period was 2,817, with 1,091 being technical personnel[129]. - The company has a total of 6 employees with doctoral degrees and 159 with master's degrees, reflecting a highly educated workforce[129]. - The company plans to implement various training programs in 2023 to enhance employee skills and engagement[131]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 7.2853 million yuan[117]. Legal Matters - The company has initiated lawsuits against Jiangxi Saifan New Materials Co., Ltd. for overdue payments amounting to ¥4.36 million, with provisions for bad debts already made[185]. - A lawsuit has been filed against Chongqing Zhongneng Construction Materials Co., Ltd. for overdue payments of ¥5.99 million, with no significant impact on the company's current year operating performance[185]. - The company has recognized bad debts totaling CNY 890.87 million related to Gansu Casting Engineering Material Machinery Co., Ltd. and is awaiting the first-instance court hearing[188].