THD(300397)2023-04-24 16:00Financial Performance - The company reported a significant decline in annual performance, with specific reasons and measures for improving profitability detailed in the management discussion section[3]. - The company's operating revenue for 2022 was ¥501,828,962.48, a decrease of 10.16% compared to ¥558,578,734.86 in 2021[21]. - The net profit attributable to shareholders for 2022 was -¥151,256,571.92, representing a decline of 109.75% from -¥72,113,605.08 in 2021[21]. - The net cash flow from operating activities was -¥75,316,886.00, a significant decrease of 346.43% compared to ¥30,563,348.43 in 2021[21]. - The total assets at the end of 2022 amounted to ¥2,558,311,835.47, reflecting a slight increase of 0.63% from ¥2,542,399,986.95 at the end of 2021[21]. - The company reported a basic earnings per share of -¥0.29 for 2022, down 93.33% from -¥0.15 in 2021[21]. - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profits over the past three years[21]. - The company’s total revenue for the reporting period was 501.83 million yuan, a decrease of 10.16% compared to the previous year[87]. - The net profit attributable to shareholders of the listed company was -151.26 million yuan, a decline of 109.75% year-on-year[87]. Profit Distribution - The profit distribution plan approved by the board proposes a cash dividend of 0.00 RMB per 10 shares, with no bonus shares or capital reserve transfers[4]. - The company’s registered capital is 517,636,745 RMB, which serves as the basis for the profit distribution plan[4]. Risk Management - Future plans and forward-looking statements do not constitute a substantive commitment to investors, highlighting the need for risk awareness[3]. - The company is actively addressing potential risks and has outlined corresponding measures in the future outlook section of the report[3]. - The company recognizes the risks associated with market fluctuations and aims to adapt its strategies to align with national policies and market demands[179]. Research and Development - R&D expenditure increased by 17.72% compared to the same period last year, reflecting the company's commitment to innovation and technology development[87]. - The company is focusing on core technology breakthroughs and new product development, enhancing its innovation capabilities[92]. - The company has developed a new big data platform that integrates IoT and multimedia sampling, enhancing the market competitiveness of smart perception products[115]. - The company is focused on achieving domestic substitution for its marine environmental monitoring equipment, with ongoing research expected to yield significant scientific and economic benefits[117]. - The company's R&D investment reached approximately 155.2 million yuan in 2022, accounting for 30.93% of its operating revenue, a significant increase of 9.28% compared to the previous year[120]. Business Strategy - The company has established three major business systems: "military equipment," "communication electronics," and "new generation integrated electronic information," indicating a strategic focus on defense and technology sectors[34]. - The company aims to strengthen its product lineup in response to new demands and enhance its R&D capabilities to maintain its leadership position in the RF chip market[40]. - The company plans to enhance its military equipment business line by focusing on urban air defense projects and promoting the domestic replacement of key models[160]. - The company is committed to maintaining its competitive position in the ring and isolator products market while expanding into new application areas[180]. Market Opportunities - The company anticipates growth opportunities in military spending and digital economy integration as outlined in the "14th Five-Year Plan" and the outcomes of the 20th National Congress[35]. - The global RF front-end market is expected to reach approximately USD 31.31 billion in 2023, with a compound annual growth rate of 16.00% from 2018 to 2023[41]. - The domestic radar perception RF chip market is projected to reach RMB 4.32 billion by 2025, driven by increasing demand in smart home and automotive electronics[44]. - The big data industry in China reached a scale of 1.57 trillion yuan in 2022, growing by 18% year-on-year, indicating a strong development trend in the digital economy[55]. Corporate Governance - The company has a board of directors consisting of 7 members, including 3 independent directors, which complies with regulatory requirements[188]. - The company emphasizes the independence of its operations from its controlling shareholders, ensuring autonomy in business, personnel, finance, and organization[193]. - The company has established a robust internal control system and governance structure in accordance with relevant laws and regulations[185]. - The company actively engages in investor relations, ensuring timely and accurate information disclosure through various channels[192]. Subsidiary Performance - The total assets of Xi'an Tianwei Electronic System Engineering Co., a subsidiary, are reported at 750.31 million yuan, with a net profit of 50.13 million yuan, contributing significantly to the company's overall performance[150]. - In 2022, Xi'an Tianhe Defense Technology Co., Ltd. achieved a revenue of 49,190,969.18 CNY, a year-on-year increase of 30.71%, but reported a net loss of 50,126,382.46 CNY, a decline of 29.71%[151]. - Xi'an Tianhe Haifang Intelligent Technology Co., Ltd. reported a revenue of 15,072,605.85 CNY in 2022, down 11.53% year-on-year, with a net loss of 5,844,375.35 CNY, a significant decline of 445.02%[152]. Investment and Financing - The company reported an investment income of approximately 4.26 million yuan, which accounted for -3.02% of total profit[127]. - The total amount for foreign exchange hedging business will not exceed $20 million, indicating a controlled risk exposure[138]. - The company plans to strengthen research and analysis on exchange rates to mitigate risks associated with significant fluctuations[138]. - The company has maintained its fundraising efforts, with funds allocated specifically for the 5G circulator expansion and magnetic ferrite production projects[146].