SILVER(300221)2023-04-10 16:00Financial Performance - The company's net profit decreased by over 50% compared to the same period last year, with measures for improving profitability discussed in the management analysis section[4]. - The company's operating revenue for 2022 was ¥1,846,154,592.64, a decrease of 18.07% compared to ¥2,253,403,897.96 in 2021[20]. - The net profit attributable to shareholders was -¥5,616,318.18 in 2022, representing a decline of 107.65% from ¥73,455,147.96 in 2021[20]. - The company reported a basic earnings per share of -¥0.0126 for 2022, a decrease of 107.66% from ¥0.1644 in 2021[20]. - The company reported a total investment of 140 million yuan in Dongguan New Materials Technology Co., Ltd. for the establishment of high-performance materials production, with a 100% ownership[81]. - In 2022, the company achieved total revenue of CNY 1,846,154,592.64, a decrease of 18.07% year-on-year[54]. - The company's net profit attributable to shareholders was CNY -561.63 million, down 107.65% compared to the previous year[51]. - Revenue from modified plastics was CNY 1,515,155,547.15, representing 82.07% of total revenue, with a year-on-year decline of 13.38%[54]. - Revenue from smart lighting products was CNY 211,461,149.45, accounting for 11.45% of total revenue, down 53.63% year-on-year[54]. Risk Management - The company faces risks related to raw material price fluctuations, intensified market competition, and potential loss of technical personnel, with strategies to address these risks outlined in the future outlook section[4]. - The report emphasizes the importance of investor awareness regarding the differences between plans, forecasts, and commitments[4]. - The company faces risks related to fluctuations in raw material prices, which are linked to global oil prices and can affect profit margins[98]. - The company has established a management system for foreign exchange hedging to ensure compliance with internal controls and risk management procedures[89]. - The company plans to enhance its risk management strategies by closely monitoring exchange rates and adjusting operational strategies accordingly[88]. Research and Development - The company has a strong commitment to R&D, with a dedicated technology center responsible for new product and material development, ensuring alignment with market needs[39]. - The company focuses on developing high-performance, high-value-added products through advanced product formulations, which are critical for its survival and growth in the modified plastics sector[36]. - The company is actively pushing the research and development of 3D printing materials, although profitability in this area is expected to take time[101]. - The company is focusing on developing high-temperature resistant PVC materials and other advanced materials to enhance its product line and market competitiveness[65]. - Research and development expenses decreased by 22.84% to CNY 81,676,697.54 in 2022, compared to CNY 105,850,363.10 in 2021[64]. Corporate Governance - The company operates independently without a controlling shareholder, ensuring that its business, personnel, assets, and finances are separate from any major shareholder[112]. - The company has a governance structure that includes 9 board members, with 3 independent directors, ensuring diverse representation[113]. - The company has established independent governance structures including a shareholders' meeting, board of directors, and supervisory board, ensuring independence from the largest shareholder and its affiliates[118]. - The financial department operates independently, adhering to current accounting standards and regulations, with a complete financial accounting system in place[118]. - The company has implemented a performance evaluation system for senior management, with compensation plans reviewed and approved by the board of directors[167]. Environmental Responsibility - The company has obtained pollution discharge permits for its subsidiaries, with valid periods extending into 2023[177]. - The company conducted various emergency response drills related to environmental incidents, including fire and toxic exposure scenarios[179]. - The company's environmental expenses for the year 2022 amounted to 650,000 yuan, with an environmental protection tax payment of 2,256.21 yuan[181]. - The company has not faced any significant administrative penalties related to environmental issues during the reporting period[182]. - The company has actively engaged in social responsibility initiatives, including scholarship programs for impoverished students[184]. Market Strategy - The company is focused on expanding its market presence and developing new technologies, although specific figures and timelines are not provided in the report[4]. - The overall market for modified plastics in China is expected to grow, driven by the demand from the automotive and electronics sectors, particularly in the context of the rapid development of the new energy vehicle industry[29]. - The smart lighting market in China grew from 14.7 billion yuan in 2017 to 35.4 billion yuan in 2021, with a compound annual growth rate of 24.6%, and is projected to reach 39.8 billion yuan in 2022[33]. - The company is expanding its production capacity by establishing new R&D and manufacturing bases in regions such as Zhuhai, Songshan Lake, and Anhui Chuzhou to strengthen its market position[35]. - The company aims to maintain market share while actively exploring new products and customers to enhance overall competitiveness[105]. Financial Management - The company has established a comprehensive internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring effective risk management and operational integrity[169]. - The internal control evaluation report indicates that 100% of the company's total assets and operating income were included in the evaluation scope, confirming the robustness of the internal control framework[172]. - The company has implemented strict internal control measures to manage the complexity and risks associated with hedging transactions[89]. - The company has maintained a commitment to not occupy funds illegally and has adhered to its financial management policies[193]. - The company reported zero significant defects in financial reporting and internal controls for the year 2022[173].