KDXC(002669)2023-04-14 16:00Financial Performance - The company reported a significant increase in revenue, with a year-over-year growth of 15%[16]. - The company's operating revenue for 2022 was ¥2,466,361,756.29, an increase of 8.57% compared to ¥2,271,612,976.74 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥47,913,477.29, representing a significant increase of 117.83% from ¥21,995,909.09 in 2021[22]. - The net profit after deducting non-recurring gains and losses was ¥33,756,789.24, a remarkable increase of 520.23% compared to ¥5,442,624.63 in 2021[22]. - The company's total assets at the end of 2022 were ¥5,332,562,034.54, reflecting a growth of 43.03% from ¥3,728,378,644.05 at the end of 2021[22]. - The basic earnings per share for 2022 were ¥0.179, an increase of 103.41% from ¥0.088 in 2021[22]. - The total operating revenue for 2022 was ¥2,466,361,756.29, representing an increase of 8.57% compared to ¥2,271,612,976.74 in 2021[102]. - The adhesive segment generated ¥1,580,033,558.39, accounting for 64.06% of total revenue, showing a slight decrease of 0.79% year-over-year[102]. - The composite materials segment saw significant growth, with revenue of ¥432,279,953.62, up 34.06% from ¥322,455,264.85 in 2021[102]. - The company's direct sales model contributed ¥2,207,834,415.70, which is 89.52% of total revenue, reflecting an increase of 11.67% from the previous year[102]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[16]. - The company has set a revenue guidance of $500 million for the next fiscal year, representing a 10% growth target[16]. - The company aims to enhance its sustainability practices, targeting a 40% reduction in carbon emissions by 2025[16]. - The company plans to maintain its leading market position in wind power structural adhesives and solvent-free composite adhesives while expanding into global supply chains and establishing overseas branches in 2023[164]. - The electronic information materials segment will focus on expanding market share in display screen industries and pharmaceutical intermediates, aiming to solidify a "second growth pole" for the company[164]. - The company is focusing on expanding its business in new materials and military technology sectors through strategic acquisitions[189]. Research and Development - The company is investing in R&D, with a budget increase of 30% for the upcoming fiscal year[16]. - The company has a strong focus on R&D, with over 30 core technical personnel dedicated to various product research and development areas[66]. - The company invests over 4% of its annual revenue in R&D, maintaining a robust research system and developing high-performance adhesive products[72]. - The company has achieved mass shipments of mixed liquid crystal products, including "commercial wide temperature," "electronic whiteboard," and "vehicle rear installation" models, with multiple products undergoing online application testing[63]. - The company is currently developing multiple new products, including UV moisture dual curing adhesives and high-temperature low-viscosity epoxy resins, aimed at enhancing product lines and market competitiveness[113]. - The company is focusing on automotive duct adhesives and fast-curing PUR hot melt adhesives for electronic products, which will further diversify its product offerings[113]. - The company is actively pursuing new product development in the pharmaceutical sector, including intermediates and synthesis processes, to enhance product offerings[117]. Acquisitions and Investments - The company acquired a 60.92% stake in Cai Jing Optoelectronics, expanding into electronic information materials, pharmaceuticals, and new energy materials[30]. - The company completed the acquisition of 100% equity in Saiying Technology in 2023, enhancing synergies in the military electronics sector[78]. - The company has made strategic acquisitions, including the purchase of Cai Jing Optoelectronics and Wei Xin Technology, to enter the electronic information materials and new energy materials sectors, creating a "second growth pole"[71]. - The company raised approximately 700 million yuan through a private placement of 52,910,052 shares at 13.23 yuan per share, enhancing capital strength for capacity expansion[94]. Risk Management - The management has identified potential risks related to market volatility and supply chain disruptions, with mitigation strategies in place[16]. - The company emphasizes risk management and fine management practices to enhance operational efficiency and resilience against risks[77]. - The company faces risks from rising raw material prices, which significantly impact its production costs, and is implementing measures to stabilize procurement[176]. - The company is enhancing its receivables management to mitigate risks associated with increasing accounts receivable as its business scales[179]. Corporate Governance and Compliance - The company has implemented a robust internal control system and has an independent audit committee to oversee financial reporting and risk management[5]. - The company has established transparent performance evaluation and incentive mechanisms for its management team[7]. - The company maintains a commitment to social responsibility, including environmental protection and sustainable development initiatives[7]. - The company has established an independent financial department with dedicated personnel and a separate accounting system, ensuring no shared bank accounts with shareholders[200]. Production and Capacity - The company operates multiple production bases in Shanghai, Fujian, and Tianjin, with ongoing construction of new adhesive material production bases in Hebei and Fujian[49]. - The company’s epoxy adhesive production capacity is 46,561.8 tons, with a utilization rate of 81.72% and an ongoing construction of 7,000 tons of additional capacity[67]. - The polyurethane adhesive production capacity is 20,000 tons, with a utilization rate of 56.69% and an ongoing construction of 37,000 tons of additional capacity[67]. - The company plans to expand its production capacity to 30,000 tons per year for adhesive materials by 2023[146]. Investor Relations - The company conducted 11 investor research activities and responded to over 200 investor inquiries through the Shenzhen Stock Exchange's interactive platform[100]. - The company is committed to enhancing investor relations and maintaining effective communication with investors and market intermediaries[100]. - The company has engaged in acquisitions and partnerships to foster a first-class entrepreneurial team and create new profit growth points[160].