SPEED(300322)2023-04-27 16:00Financial Performance - The company's revenue significantly declined in 2022, primarily due to a downturn in demand in the consumer electronics industry, with sales of fingerprint modules and terminal antennas decreasing compared to the previous year[5]. - Net profit for 2022 dropped substantially, influenced by asset impairment provisions and ongoing investments in new energy production lines, which have not yet achieved scale effects[5]. - The total revenue for 2022 was ¥1,545,732,661.62, representing a decrease of 20.90% compared to ¥1,961,487,981.84 in 2021[40]. - The net profit attributable to shareholders was a loss of ¥86,605,158.85, a decline of 280.91% from a profit of ¥47,872,494.04 in 2021[40]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥122,842,959.57, down 480.67% from ¥32,269,776.11 in 2021[40]. - The net cash flow from operating activities improved to ¥146,559,834.19, a significant increase of 335.57% from a negative cash flow of ¥62,215,468.68 in 2021[40]. - The net profit attributable to shareholders for Q1 2022 was ¥2.73 million, while Q2, Q3, and Q4 reported net losses of ¥10.57 million, ¥14.78 million, and ¥63.99 million respectively[43]. - The company reported a total of ¥36.24 million in non-recurring gains and losses for 2022, significantly higher than ¥15.60 million in 2021[47]. Market Strategy and Development - The company plans to enhance market research and R&D efforts to accelerate the development and mass production of new products, aiming to improve its competitive strength and industry position[11]. - The company aims to deepen relationships with existing major clients while actively seeking new customers and products to cultivate new growth points[11]. - The company is focusing on the development of 5G technology and expanding its product offerings in the wireless communication sector[36]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the technology space[36]. - The company aims for the new energy vehicle market to continue growing, with projections indicating a market size of 15.98 million units by 2026, reflecting a compound annual growth rate of 35.1%[55]. - The company is committed to talent cultivation and recruitment to support its strategic development and enhance operational efficiency[106]. Risks and Challenges - The company faces risks related to external economic conditions, including potential adverse impacts from international political and economic changes on its operational performance[7]. - The company is exposed to foreign exchange risks due to its export business primarily settled in USD, necessitating close monitoring of exchange rate fluctuations[8]. - The company has identified risks associated with accounts receivable, emphasizing the need for enhanced credit risk assessment and management practices[16]. - The company acknowledges the risk of core personnel turnover and is committed to improving talent retention strategies and internal training programs[15]. - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three accounting years[41]. Investments and Acquisitions - The company acquired a 51.28% stake in Huizhou Jinri Industrial Technology Co., which specializes in the R&D, production, and sales of high and low voltage harnesses for new energy vehicle battery packs[58]. - The company has established production bases in Huizhou, Suzhou, and Vietnam, enhancing its manufacturing capabilities across key electronic industry regions[56]. - The company has divested from Suzhou Shobeyde Communication Technology Co., which will no longer be included in the consolidated financial statements, aiming to optimize its business structure[104]. - The company has established a new wholly-owned subsidiary, Jingmen ShuoBeide New Energy Technology Co., Ltd., in August 2022[185]. Corporate Governance - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring no competition with the controlling shareholder's other enterprises[115]. - The company has a complete and independent financial management system, with its own accounting and auditing departments, and operates independent bank accounts[116]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management to enhance work motivation[113]. - The company strictly adheres to information disclosure obligations, ensuring transparency and fairness for all shareholders through designated media and communication channels[112]. - The company has a robust governance structure in compliance with relevant laws and regulations, with no significant discrepancies noted[113]. Research and Development - The company has invested significantly in R&D, focusing on 5G technology since 2017, becoming one of the earliest companies in the wireless communication terminal industry to develop 5G technology[55]. - Research and development (R&D) investment reached ¥162,049,490.59, which is 10.48% of the operating revenue, up from 6.87% in the previous year[75]. - The number of R&D personnel increased by 18.42% to 450, while the proportion of R&D personnel to total employees slightly decreased to 19.30%[75]. - The company is investing in R&D for new technologies, allocating $G million towards innovation initiatives[5]. Shareholder Relations - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, with participation rates of 20.29%, 20.54%, and 20.30% respectively[117]. - The company is committed to upholding the rights and interests of shareholders and promoting its development[143]. - The company has established diverse investor communication channels, including dedicated phone lines and email addresses, to ensure investors' right to know[112]. - The company has engaged in various investor relations activities, providing updates on its performance and strategic direction[107]. Financial Management - The company has established a multi-faceted incentive compensation mechanism based on job value, performance, and market orientation[151]. - The company reported a total shareholding of 29,603,086 shares at the end of the reporting period, with a decrease of 1,200,000 shares during the period[120]. - The company has a total of 30,800 shares held by its executives, with no new shares acquired during the reporting period[120]. - The company has not provided guarantees for the controlling shareholder and does not have any instances of fund occupation by the controlling shareholder[111].