SHIJIA TECH(002796)2023-06-05 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,095,101,190.15, a decrease of 15.64% compared to ¥1,298,180,013.97 in 2021[22]. - The net profit attributable to shareholders was -¥31,419,436.75, showing a significant improvement of 95.29% from -¥666,811,740.64 in the previous year[22]. - The cash flow from operating activities was ¥72,571,634.55, a turnaround of 190.51% compared to -¥80,180,953.91 in 2021[22]. - The total assets at the end of 2022 were ¥1,443,895,348.87, down 9.70% from ¥1,598,918,782.71 at the end of 2021[22]. - The company reported a basic earnings per share of -¥0.13, improving by 95.08% from -¥2.64 in 2021[22]. - The company's revenue after deducting unrelated business income was ¥1,066,421,980.86 in 2022, compared to ¥1,258,005,596.77 in 2021[23]. - The weighted average return on net assets was -3.67% in 2022, an improvement of 50.60% from -54.27% in 2021[22]. - The company received government subsidies amounting to ¥2,365,953.93 in 2022, slightly down from ¥2,464,773.23 in 2021[29]. - The company's total revenue for the industrial sector was approximately ¥1.07 billion, a decrease of 15.23% year-over-year, with a gross margin of 7.97%[61]. - The company reported a significant decrease in sales volume for antennas by 16.09% and RF devices by 35.16% compared to the previous year[64]. Operational Strategy - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[4]. - The company plans to optimize resource allocation, focusing on profitable products and reducing low-margin or loss-making products[46]. - The company aims to enhance its product offerings in the 5G filter segment and improve product processes to reduce costs[47]. - The company will diversify its customer base and product lines, increasing its presence in the new energy and medical sectors while enhancing delivery capabilities for signed orders[46]. - The company is actively seeking to expand its customer base and market presence to reduce customer concentration and create new profit growth points[128]. - The company is focused on optimizing its supply chain and establishing a qualified supplier system to manage raw material costs effectively[129]. Research and Development - The company invested ¥52,025,500 in R&D, accounting for 4.75% of total operating revenue[53]. - The company is actively engaged in R&D for 4G and 5G products, with a dedicated engineering technology research center for 5G communications[54]. - The company is developing a new ceramic dielectric filter and duplexer aimed at achieving a frequency coverage range of 600MHz to 3GHz[82]. - A new automated water testing technology for energy storage devices is in trial production, aiming to enhance testing efficiency and reduce water waste[84]. - The company is working on a high-precision automatic welding technology for electrical cabinets, currently in trial production[84]. - The number of R&D personnel decreased by 5.58% to 254 in 2022 from 269 in 2021[85]. - The company has not capitalized any R&D investments, maintaining a 0.00% ratio for both 2022 and 2021[86]. Governance and Management - The company has established a fair and transparent performance evaluation and incentive mechanism, effectively enhancing employee motivation and responsibility[145]. - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholder, ensuring a fully independent operational capability[147]. - The company has a complete and independent business structure, capable of market-oriented operations without any direct or indirect interference from the controlling shareholder[153]. - The company has implemented strict financial management and established an independent financial department, ensuring no shareholder interference in fund usage[150]. - The company has improved information disclosure and transparency, ensuring timely and accurate communication with shareholders[144]. - The company has established a robust internal control system and governance structure, complying with relevant laws and regulations[147]. - The company has conducted five board meetings and five supervisory meetings during the reporting period, all in compliance with legal and regulatory requirements[143]. - The company has not faced any penalties from securities regulatory authorities in the past three years[166]. Market and Industry Risks - The company is facing significant cost pressures due to high prices of raw materials like stainless steel and aluminum, impacting overall profitability[46]. - The company is exposed to raw material price volatility, particularly for stainless steel, carbon steel, and aluminum, which could adversely affect its operating performance if prices remain high[129]. - Approximately 85% of the market share in the communication industry is concentrated among four major integrators: Huawei, Ericsson, Nokia, and ZTE, resulting in high customer concentration risk for the company[127]. - The company faces risks from international trade frictions and political uncertainties, which have led to some countries discontinuing the use of Chinese communication equipment, negatively impacting the industry[125]. Employee and Shareholder Relations - The total number of employees at the end of the reporting period was 2,053, with 906 in the parent company and 1,147 in major subsidiaries[178]. - The company reported a cash dividend amount of 26.27 million yuan for the year 2022, despite not being able to distribute cash dividends due to negative distributable profits[183]. - The company has a stable profit distribution policy, emphasizing reasonable returns to investors while considering sustainable development[182]. - The company did not implement any stock incentive plans or employee stock ownership plans during the reporting period[185]. - The company plans to continue its training programs to enhance employee skills and align with its development strategy[181]. Internal Control and Compliance - As of December 31, 2022, the company reported no significant deficiencies in internal control over financial reporting[186]. - The company maintained effective internal control over financial reporting in all material respects as of December 31, 2022[193]. - The internal control self-assessment report was disclosed on April 29, 2023[191]. - The internal control audit report received a standard unqualified opinion[193]. - The company has established a comprehensive internal control system in accordance with relevant regulations[186]. Environmental Responsibility - The company has not faced any administrative penalties related to environmental issues during the reporting period[198]. - The company has implemented the ISO 14001:2015 environmental management system certification, ensuring compliance with environmental standards[199]. - The company emphasizes social responsibility, adhering to principles of integrity, customer focus, and continuous improvement[200].