Gian(300709)2023-04-26 16:00Financial Performance - In 2022, the company's operating revenue was CNY 2.508 billion, a decrease of 1.28% year-on-year[4]. - The net profit attributable to shareholders was a loss of CNY 232 million, down 217.80% year-on-year[4]. - The non-recurring net profit attributable to shareholders was a loss of CNY 275 million, a decline of 419.53% year-on-year[4]. - The company's operating revenue for 2022 was ¥2,507,646,953.04, a decrease of 1.28% compared to ¥2,540,286,446.04 in 2021[28]. - The net profit attributable to shareholders for 2022 was -¥232,337,810.37, representing a decline of 217.80% from ¥197,236,931.37 in 2021[28]. - The company reported a net loss of CNY 262,866,509.57 for the year, primarily due to inventory impairment provisions of CNY 206,180,306.48[92]. - The company experienced a significant decline in profitability in 2022, primarily due to external economic factors and reduced demand from end customers, leading to a decrease in overall sales scale[61]. - The company reported a significant increase in non-operating income from government subsidies, totaling ¥21,807,778.42 in 2022, compared to ¥16,034,880.79 in 2021[35]. Operational Strategy - The operational strategy shifted from "scale-oriented" to "profit-oriented," leading to improved performance in the second half of the year, although the annual net profit remained significantly negative[5]. - The company has initiated measures to adjust customer strategies and optimize internal management policies to mitigate the impact of external factors[5]. - The company plans to diversify its business to reduce risks associated with macroeconomic factors and enhance long-term operational sustainability[5]. - The company aims to provide higher integration solutions by transitioning from component manufacturers to component solution providers, particularly in the automotive sector[58]. - The company is focused on continuous R&D investment and collaboration with academic institutions to maintain its technological edge in the MIM industry[49]. Market Trends - In 2022, global smartphone shipments declined by 11.3% to 1.21 billion units, marking the lowest annual shipment since 2013[40]. - The global shipments of foldable smartphones increased by 74.14% in 2022, reaching 14.2 million units, with expectations to grow to nearly 22 million units in 2023[41]. - The global TWS earphone shipments decreased by 4.7% in 2022, totaling 241 million units, with Apple's AirPods shipments down by 12.3% to 92.04 million units[42]. - Global smartwatch shipments grew by 9.4% in 2022, reaching 149 million units, while smart band shipments fell by 36.5% to 35.05 million units[42]. - The global XR device shipments declined by 1.3% in 2022 to 14.38 million units, but are projected to increase by 67% to 24 million units in 2023[43]. - In 2022, China's automotive market saw production and sales of 27.02 million and 26.86 million vehicles, respectively, representing year-on-year growth of 3.4% and 2.1%[44]. - New energy vehicle production and sales in China surged by 96.9% and 93.4% in 2022, achieving a market share of 25.6%, up from 12.1% in 2021[45]. Business Segments - The company has diversified its operations into six major business segments, including MIM products, transmission, precision plastics, thermal management, smart manufacturing services, and electronic manufacturing[47]. - The MIM product segment focuses on precision metal manufacturing, with applications in consumer electronics and automotive sectors, providing high complexity and high precision components[49]. - The transmission segment has developed core technologies and has successfully supplied precision transmission components for smartphones, smart headphones, and smart home devices[48]. - The precision plastics segment has established a strong customer base in automotive, consumer electronics, and medical devices, enhancing the company's market position[48]. - The company has achieved significant scale in MIM product manufacturing, positioning itself among the industry leaders, with a focus on high-volume production for rapidly evolving consumer electronics[50]. Research and Development - The company has established a research institute to focus on strategic research and development, capturing industry trends and advancing new technologies[65]. - The company has developed core technologies in micro transmission components and cooling materials, obtaining multiple patents for innovations in folding screen mechanisms and camera devices[66]. - The company is developing high-strength lightweight metals and precision injection molding technology, which are expected to enhance its competitive edge in high-tech sectors[88]. - The company plans to enhance its R&D capabilities and focus on basic technology to improve product quality and production efficiency, particularly in the transmission and cooling sectors[137]. Financial Management - The company raised ¥570 million through convertible bonds to fund the construction of an automated production project for precision electronic components[70]. - The company has implemented risk control measures for its financial derivatives trading, ensuring compliance with relevant regulations and minimizing operational risks[112]. - The total amount raised from the issuance of convertible bonds was 570 million yuan, with a net amount of 562,366,385.78 yuan after deducting issuance costs[116]. - The company plans to continue its fundraising projects and actively manage accounts receivable to avoid overdue situations[115]. Governance and Compliance - The company held five shareholder meetings in 2022, ensuring compliance with governance standards and enhancing shareholder engagement[151]. - The board of directors consists of seven members, including three independent directors, ensuring a balanced governance structure[152]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, linking their compensation to the company's operational performance[154]. - The company ensures independent operations in business, personnel, assets, institutions, and finance, complying with relevant laws and regulations[156]. - The company has a complete and independent production system, with all necessary assets owned independently, ensuring no shared resources with controlling shareholders[157]. Employee Management - The total number of employees at the end of the reporting period is 3,718, with 2,761 in the parent company and 957 in major subsidiaries[195]. - The company has established a performance-oriented compensation system, linking employee salaries directly to performance evaluations[196]. - The training programs for 2022 included various courses aimed at enhancing leadership and management skills, with a focus on internal and external training resources[197]. - The company’s employee structure includes 2,566 production personnel, 653 technical staff, and 398 administrative personnel[195]. Future Outlook - The company provided a positive outlook for 2023, projecting a revenue growth of 20% driven by new product launches and market expansion strategies[149]. - The management provided guidance for 2023, projecting a revenue growth of 18% and a net profit increase of 22%[174]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[149]. - The company is exploring potential mergers and acquisitions to enhance its competitive position[184].