RIFA PM(002520)2023-04-27 16:00Financial Performance - The company's total revenue for 2022 was ¥2,139,159,734.13, a decrease of 2.09% compared to ¥2,184,768,797.69 in 2021[20]. - The net profit attributable to shareholders was a loss of ¥1,529,515,550.22, representing a significant decline of 3,098.56% from a profit of ¥51,008,318.92 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was a loss of ¥726,459,361.18, down 4,840.95% from a profit of ¥15,323,076.31 in 2021[20]. - Operating cash flow for the year was ¥351,052,244.04, a decrease of 56.45% compared to ¥806,116,250.92 in 2021[20]. - Basic and diluted earnings per share were both -¥1.82, a decrease of 2,700.00% from ¥0.07 in 2021[20]. - Total assets at the end of 2022 were ¥5,957,833,352.21, down 18.15% from ¥7,279,185,896.57 at the end of 2021[20]. - Net assets attributable to shareholders decreased by 37.04% to ¥2,209,484,239.65 from ¥3,509,440,944.02 in 2021[20]. - The company reported a total revenue of ¥2,139,159,734.13 in 2022, a decrease of 2.09% compared to ¥2,184,768,797.6 in 2021[58]. - The net profit attributable to shareholders was -¥1,529,515,550.22, representing a significant decline of 3,098.56% year-over-year[58]. - The total assets decreased by 18.15% to ¥5,957,833,352.21 compared to the previous year[58]. - The net assets attributable to shareholders fell by 37.04% to ¥2,209,484,239.65[58]. Business Operations - The company is primarily engaged in the research, development, production, and sales of CNC machine tools and aerospace components[20]. - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has reported uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[20]. - The company aims to improve supply chain capabilities and reduce dependency on foreign products and components to achieve self-sufficiency in high-end CNC machine tools[34]. - The company is focusing on enhancing core technologies in high-end CNC machine tools to support the transition from "usable" to "well-used" products[34]. - The company aims to enhance product quality and production efficiency while accelerating product transformation to improve market competitiveness and brand influence[35]. - The company has established a global business layout with its subsidiary Airwork, which has over 80 years of experience in aviation services[38]. - The company plans to divest its helicopter business, transferring 100% equity of its subsidiaries involved in this sector[66]. Market Trends and Industry Outlook - The high-end CNC machine tool industry is projected to achieve over 80% domestic market share by 2025, as outlined in national development plans[33]. - Emerging industries such as new energy vehicles and aerospace are driving demand for customized CNC machine tools, which is expected to boost industry growth[34]. - The global air cargo market is expected to see total revenue in 2023 surpassing pre-pandemic levels, despite facing risks such as unstable energy prices and geopolitical conflicts[38]. - The Asia-Pacific region is projected to be the largest driver of aviation demand growth, with China expected to become the world's largest aviation market by 2024 or 2025[36]. - In 2022, global air passenger traffic surged by 64.4% compared to 2021, recovering to 68.5% of pre-pandemic levels[37]. Research and Development - The company is committed to advancing its research and development efforts to meet the evolving needs of the manufacturing industry and enhance its competitive position[34]. - The company has developed new products targeting the renewable energy sector, including equipment for wind power bearings and components for new energy vehicles[41]. - The company aims to increase its R&D efforts in five-axis linkage CNC machine tools to meet the specialized needs of aerospace, rail transit, and emerging industries[112]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience and operational efficiency[127]. - Research and development expenses decreased by 31.29% to ¥62,166,569.58, which is 2.91% of operating revenue[75]. Financial Management and Investments - The company has established a foreign exchange hedging management system to mitigate risks associated with currency fluctuations[95]. - The company has implemented risk control measures, including a unified management approach by the finance department for foreign exchange hedging[95]. - The company has confirmed that its foreign exchange hedging activities are feasible and effective in stabilizing profit levels[95]. - The company reported a significant decrease in total investments, with 4.09 million yuan in 2022, down 74.46% from the previous year[90]. - The company has a cash dividend policy that stipulates a distribution of no less than 30% of the average distributable profit over the last three years, provided cash dividend conditions are met[169]. Corporate Governance - The company has established a complete and reasonable corporate governance structure and internal control system, ensuring the protection of shareholders' rights[182]. - The company maintains a transparent information disclosure system, ensuring timely and accurate communication with shareholders and stakeholders[135]. - The company has a dedicated investor communication line and engages in various forms of investor interaction, including online communication and investor visits[135]. - The company has a structured approach to determining executive compensation based on performance and company operations[155]. - The company has actively improved its production processes to reduce energy consumption and carbon emissions, enhancing energy efficiency[181]. Employee and Management Structure - The total number of employees at the end of the reporting period was 1,270, with 1,268 from major subsidiaries[165]. - The professional composition included 622 production personnel, 70 sales personnel, 385 technical personnel, and 33 financial personnel[165]. - The company has a robust human resources management system and performance evaluation system, linking management performance to corporate goals[185]. - The company has a structured approach to employee compensation, linking performance bonuses to various operational metrics[167]. Strategic Initiatives - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[146]. - The company is actively pursuing strategic partnerships and potential acquisitions to enhance its competitive position in the market[149]. - The company plans to implement a new marketing strategy that is projected to increase customer engagement by 40%[128]. - The company is considering strategic acquisitions to bolster its competitive position, with potential targets identified in the F sector[125].