FORE(301368)2023-04-24 16:00Financial Performance - The company's operating revenue for 2022 was ¥428,824,085.73, a decrease of 24.55% compared to ¥568,333,521.38 in 2021[24]. - The net profit attributable to shareholders for 2022 was ¥44,899,015.11, down 26.14% from ¥60,792,550.57 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥37,475,843.93, reflecting a decline of 36.12% compared to ¥58,665,818.05 in 2021[24]. - The net cash flow from operating activities decreased by 65.30% to ¥38,149,318.81 from ¥109,930,581.98 in 2021[24]. - Total assets at the end of 2022 reached ¥1,274,433,851.20, an increase of 86.08% from ¥684,873,745.00 at the end of 2021[24]. - The net assets attributable to shareholders increased by 194.44% to ¥961,276,713.17 from ¥326,476,725.26 in 2021[24]. - The basic earnings per share for 2022 were ¥0.50, down 26.47% from ¥0.68 in 2021[24]. - In 2022, the company achieved a consolidated revenue of CNY 428.82 million, a decrease of 24.55% compared to the previous year[77]. - The operating profit for 2022 was CNY 47.76 million, down 28.42% year-on-year[77]. - The company reported a net cash inflow from operating activities of CNY 38.15 million, a decline of 65.30% year-on-year[77]. Dividend Distribution - The company plans to distribute a cash dividend of 1.25 RMB per 10 shares to all shareholders, based on a total of 120,100,000 shares[4]. - The company distributed cash dividends of 15,012,500.00 CNY (including tax), with a dividend of 1.25 CNY per 10 shares, based on a total share capital of 120,100,000 shares[174]. - The company has a minimum cash dividend ratio of 20% for profit distribution during its growth phase with significant capital expenditure plans[174]. Market Position and Strategy - The company is focusing on high-end, precision, and intelligent gear products, particularly in the fields of new energy vehicles and industrial robots[34]. - The global power tool market was approximately 36 billion by 2025, indicating significant growth potential for the industry[35]. - The company has established long-term stable business relationships with international brands such as Bosch and Stanley, positioning itself advantageously in the mid-to-high-end power tool market[35]. - The company aims to enhance its market position by expanding into new markets such as new energy vehicles, harmonic reducers, and smart home applications[124]. - The company intends to strengthen its international market development and diversify its business strategy to meet market demands[124]. Research and Development - The company has established a comprehensive R&D system in the small modulus gear industry, emphasizing the importance of long-term experience and practical skills among R&D personnel[51]. - The R&D process follows the APQP model, which includes five stages: project planning, product design, process design, product confirmation, and feedback for improvement[51]. - The company focuses on customized product development based on market demand, ensuring a quick response to market dynamics[52]. - The company has invested significantly in internal training programs to enhance employee skills and business competencies, aiming to build a high-quality talent pool[171]. - R&D investment amounted to ¥15,937,721.90 in 2022, representing 3.72% of operating revenue, an increase from 3.25% in 2021[99]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential risks and countermeasures in its management discussion[4]. - The company has identified risks related to international trade disputes, particularly with the U.S., but has noted that its direct exports to the U.S. are relatively low[126]. - The company faced rising raw material costs in 2021, leading to a decline in gross profit margin; it aims to optimize product structure and improve production efficiency to mitigate this risk[128]. Governance and Compliance - The company has established a complete governance structure in compliance with relevant laws and regulations, ensuring the protection of shareholders' rights[133]. - The board of directors consists of 9 members, including 3 independent directors, and has held 4 meetings during the reporting period[134]. - The company is committed to timely and accurate information disclosure, ensuring all shareholders have equal access to company information[136]. - The company has a robust internal control framework addressing anti-money laundering, fraud prevention, and data protection[191]. - The company has implemented comprehensive environmental protection measures, including wastewater treatment that meets national standards[188]. Employee Management - The total number of employees at the end of the reporting period is 735, with 573 in production, 103 in technology, 14 in sales, 14 in finance, and 31 in administration[169]. - The company has established a performance management system linked to an elastic compensation system to ensure employee interests are protected[170]. - The average wage level of employees has shown a stable upward trend, which may increase labor costs; the company is developing a compensation system to attract and retain talent[129]. - The company has signed labor contracts with all employees and provides social insurance, ensuring compliance with labor laws[194]. Environmental Responsibility - The company has maintained a good environmental sustainability record, with no major environmental safety issues reported during the period[188]. - The company has taken measures to reduce carbon emissions, although specific details were not disclosed[189]. - The company has ensured that all waste is treated according to national regulations, with no significant environmental violations reported[188].