Shenglan Technology (300843)2023-04-26 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,170,389,274.27, a decrease of 10.16% compared to ¥1,302,801,245.66 in 2021[17]. - Net profit attributable to shareholders was ¥59,751,935.29, down 42.43% from ¥103,792,738.52 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥48,642,124.19, a decline of 49.15% from ¥95,650,851.04 in 2021[17]. - The net cash flow from operating activities increased by 36.23% to ¥141,028,374.57, compared to ¥103,518,692.38 in 2021[17]. - Total assets at the end of 2022 reached ¥1,913,169,305.00, reflecting a 21.91% increase from ¥1,565,151,112.83 at the end of 2021[17]. - The company's net assets attributable to shareholders increased by 12.50% to ¥1,056,767,169.70 from ¥939,347,968.02 in 2021[17]. - The company's gross profit margin for the manufacturing sector was 21.22%, a slight decrease of 0.44% compared to the previous year[55]. - The company's total revenue for the reporting period was approximately ¥1.17 billion, a decrease of 10.16% compared to ¥1.30 billion in the previous year[54]. Market Conditions - The consumer electronics market faced challenges in 2022, with global PC shipments declining by 16.5% and smartphone shipments down by 11.3%[27]. - The company anticipates recovery in consumer demand as the global economy improves and 5G technology becomes more widespread[27]. - In 2022, China's new energy vehicle sales reached 6.887 million units, a year-on-year increase of 93.4%, with a market share of 25.6%, up 12.1 percentage points from the previous year[28]. - The global connector market size was 24.978 billion, a 23.8% increase, representing 32% of the global market[28]. Product Development and R&D - The company is focused on R&D and production of connectors for both consumer electronics and new energy vehicles, ensuring compliance with various quality certifications[33]. - The company has a diverse product range, including USB connectors, wafer connectors, and high-voltage connectors for new energy vehicles[36]. - Research and development investment reached CNY 76.51 million, an increase of 12.57% year-on-year, accounting for 6.54% of revenue[42]. - The company is developing a digital service platform, "Electronic Valley Mall," to provide a comprehensive range of connector products and solutions[42]. - The company has completed the development of several new products, including a high-speed data transmission and fast charging connector, aimed at reducing costs and improving product quality[65]. - The company is focusing on reducing costs and improving product quality across all new product developments, which is a key strategy for future growth[66]. Financial Management and Investments - The company has established a comprehensive financial management system to enhance the efficiency of capital activities and mitigate risks[160]. - The company has implemented strict control processes for cost accounting and expense management, ensuring accountability and reducing expenditure loopholes[161]. - The company has established a detailed management approach for the raised funds, including monitoring their storage, usage, and any changes in direction[181]. - The company plans to diversify financing channels while maintaining a reasonable capital structure to support future business development[102]. - The company reported a commitment to fully bear any tax liabilities arising from its transition to a joint-stock company, ensuring no financial loss to the company[184]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements and protecting shareholder interests[108]. - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a robust corporate governance structure[112]. - The company has established an independent financial accounting department and a separate financial decision-making system, with no shared bank accounts with controlling shareholders[113]. - The company has established a complete internal control system to protect the interests of all shareholders, particularly minority shareholders[158]. - The company emphasizes the importance of corporate culture, fostering a positive work environment through various cultural activities and initiatives[159]. Shareholder Engagement and Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.50 RMB per 10 shares (including tax) based on a total of 149,589,439 shares[3]. - The company has ensured that the cash dividend policy complies with the company’s articles of association and shareholder resolutions[146]. - The company has provided sufficient opportunities for minority shareholders to express their opinions and protect their legal rights[146]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions[181]. Future Outlook and Strategic Goals - The company aims for a revenue or net profit growth of over 40% in 2023 compared to 2022[98]. - The company plans to expand its market presence and is focusing on new product development to enhance its competitive edge[119]. - The company is actively pursuing mergers and acquisitions to bolster its market position and diversify its product offerings[119]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of up to 500 million allocated for strategic purchases[183].