HAXC (300928)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥890,477,777.12, representing a 22.83% increase compared to ¥724,960,618.77 in 2021[19]. - The net profit attributable to shareholders for 2022 was ¥46,570,138.71, a decrease of 14.65% from ¥54,566,280.93 in 2021[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,844,527.52, which is a 6.89% increase from ¥35,405,164.24 in 2021[19]. - The total assets at the end of 2022 were ¥1,356,910,728.14, reflecting a 2.83% increase from ¥1,319,533,821.38 at the end of 2021[19]. - The basic earnings per share for 2022 was ¥0.58, down 14.71% from ¥0.68 in 2021[19]. - The cash flow from operating activities for 2022 was -¥18,481,188.73, an improvement of 60.88% compared to -¥47,239,420.26 in 2021[19]. - The company reported a quarterly revenue of ¥259,678,971.15 in Q4 2022, which is the highest among the four quarters[21]. - The company received government subsidies totaling ¥1,739,619.05 in 2022, significantly contributing to its financial performance[25]. - The weighted average return on equity for 2022 was 3.64%, down from 4.37% in 2021[19]. - The company's revenue reached 89,047.78 million yuan in 2022, a year-on-year increase of 22.83%, with gross profit also rising by 19.39%[51]. - Revenue from the automotive electronics sector amounted to ¥799,493,316.19, accounting for 89.78% of total revenue, with a year-on-year growth of 17.44%[54]. - The gross profit margin for the automotive electronics sector was 13.41%, showing a slight decrease of 0.09% from the previous year[54]. - The revenue from software system development grew by 65.98% to ¥50,800,483.67, indicating strong demand for software solutions[53]. - The company reported a total investment income of ¥9,367,702.98, accounting for 19.86% of total profit, primarily from cash management activities[75]. Dividend Distribution - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 80,000,000 shares[4]. - The cash dividend distribution accounts for 100% of the total distributable profit of RMB 85,082,874.28[175]. - The company plans to distribute dividends in cash, stock, or a combination of both, with a minimum of 30% of the distributable profit allocated as cash dividends each year, ensuring sufficient cash dividend distribution while considering growth and capital structure[196]. - The company will prioritize cash dividends for profit distribution, ensuring that the cash distributed is not less than 30% of the distributable profit for the year[196]. - The company has established a three-year dividend distribution plan post-listing, focusing on maintaining normal operations and development funding[195]. Market Expansion and Technology Development - The company is actively pursuing market expansion through the development of new technologies such as OLED and Mini LED displays for automotive applications[12]. - The company is committed to innovation in automotive technology, particularly in areas like vehicle networking and smart driving solutions[12]. - The company has outlined potential risks in its future outlook, urging investors to remain cautious[4]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and expand its technological capabilities[12]. - The company has begun preliminary exploration into customized business for new energy battery packs during the reporting period[32]. - The company is expanding its product offerings to include customized development of liquid crystal display modules and cockpit display systems, enhancing its full-chain service capability[31]. - The company aims to enhance its market position and competitiveness through the integration of its technology reserves with the new manufacturing project[105]. - The company plans to expand direct cooperation with major domestic automotive brands and enhance its product offerings in the commercial vehicle sector, particularly in electronic rearview mirrors and new energy battery business[116]. Research and Development - R&D investment increased by 77.63% year-on-year, with R&D personnel accounting for 53.15% of the total workforce by the end of the reporting period[51]. - The company is advancing several R&D projects, including LTPS In-Cell assembly screens and Mini LED high dynamic contrast displays, which are in mass production preparation[67]. - The company aims to develop a next-generation domestic cockpit platform, focusing on the localization of core components[68]. - The integration of In-Cell and Mini LED technologies is underway, with the goal of maintaining a leading position in high-end screen technology[68]. - The company will continue to increase R&D investment and focus on the development of integrated cockpit display technology and new energy battery management systems in 2023[114]. Corporate Governance and Management - The company reported a significant focus on improving corporate governance, aligning with relevant laws and regulations to ensure effective internal control systems[126]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements[129]. - The supervisory board is composed of 3 members, with 2 being employee representatives, fulfilling legal and regulatory requirements[130]. - The company has established an independent financial department with a complete accounting system, ensuring no shared bank accounts with controlling shareholders[140]. - The company operates independently from its controlling shareholders, with no related party transactions that could harm its interests[136]. - The company has a procurement and product development system that is independent and capable of managing its resources effectively[138]. - The company has a structured evaluation process for determining remuneration adjustments based on operational performance[157]. - The company’s management team includes experienced professionals with backgrounds in finance, engineering, and business management[146][147]. Risks and Challenges - The company faces risks related to its dependence on the domestic automotive industry, which may be affected by macroeconomic conditions and market cycles[118]. - The company must continuously innovate and keep pace with rapid technological advancements in the automotive electronics sector to maintain its market competitiveness[120]. - The company is at risk of declining profitability due to increasing competition in the automotive cockpit electronics market and potential delays in new production line construction[121]. - The company has significant investment projects, such as the vehicle-mounted LCD display module project, which may face implementation risks and challenges in achieving expected returns[122]. Employee Development and Social Responsibility - The company has implemented a comprehensive employee training program to enhance skills and competencies, focusing on high-skill and high-technology talent development[172]. - The company emphasizes employee development and has established a comprehensive performance evaluation system[185]. - The company emphasizes the importance of social responsibility and stakeholder engagement to promote sustainable development[131]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a lock-up period that can be extended under certain conditions[189]. Environmental Compliance - The company has maintained a light asset operation model, focusing on product research, design, sales, and services without environmental impact[184]. - There were no administrative penalties related to environmental issues during the reporting period, demonstrating compliance with environmental regulations[184].