Financial Performance - Revenue decreased by approximately 1.4% to about RMB 917.8 million[3] - Gross profit decreased by approximately 7.9% to about RMB 261.4 million, with a gross margin reduction from approximately 30.5% to about 28.5%[3] - Profit attributable to equity holders of the parent was approximately RMB 24.0 million, with basic and diluted earnings per share of approximately RMB 1.47 and RMB 1.46, respectively[3] - Total comprehensive income for the year amounted to RMB 23.8 million, compared to RMB 21.4 million in the previous year[8] - The company reported a pre-tax profit of RMB 38.9 million, up from RMB 36.6 million in the previous year[10] - Other income and gains netted RMB 69.7 million, compared to RMB 40.2 million in the previous year[10] - The total comprehensive income attributable to equity holders of the parent was RMB 25.4 million, compared to RMB 18.5 million in the previous year[27] - The company reported a net asset value of RMB 1,913,948 thousand in 2022, up from RMB 1,799,553 thousand in 2021, which is an increase of 6.4%[30] - The total tax expense for the year 2022 was RMB 15,859,000, a decrease from RMB 18,072,000 in 2021, representing a reduction of approximately 6.5%[62] - The company's net profit attributable to owners increased significantly by approximately 54.8% to about RMB 24.0 million for the year ended December 31, 2022, compared to approximately RMB 15.5 million for the previous year, mainly due to increased gains from forward foreign exchange contracts[174] Revenue Sources - The company generated 96% of its revenue from sales of electronic power components in mainland China[24] - Revenue from the sale of electronic power components reached RMB 917,780 thousand in 2022, with no prior year comparison provided[36] - The revenue from the domestic market in 2022 was RMB 880,293,000, with a gross margin of 27%, compared to RMB 910,550,000 and a gross margin of 30% in 2021, indicating a decline in both revenue and margin[75] - The revenue from the foreign market increased to RMB 37,487,000 in 2022, with a gross margin of 53%, compared to RMB 20,442,000 and a gross margin of 58% in 2021, showing growth in revenue but a decrease in margin[75] - The revenue from the railway transportation sector increased due to the higher procurement volume of freight electric locomotives by China National Railway Group, compared to 2021[83] - The revenue in the industrial and other sectors grew in 2022, driven by favorable market conditions in electrical equipment and new energy power generation, compared to 2021[86] - The company's revenue from the industrial and other sectors reached RMB 476,901 thousand in 2022, a 43% increase from RMB 334,418 thousand in 2021[111] - The revenue from electrical equipment in 2022 was RMB 341,682 thousand, reflecting a 57% increase from RMB 218,200 thousand in 2021[111] - The company achieved significant growth in the railway transportation sector due to the mass delivery of the self-developed i20 series 1200V IGBT chips and ED packaged IGBT modules[109] Costs and Expenses - Gross profit margin decreased from approximately 30.5% for the year ended December 31, 2021, to about 28.5% for the year ended December 31, 2022, primarily due to a reduction in the proportion of high-margin products and rising raw material prices[119] - The cost of goods sold was RMB 656,379 thousand in 2022, compared to RMB 647,178 thousand in 2021, showing a slight increase of 1.9%[38] - Research and development costs increased to RMB 90.1 million from RMB 84.1 million in the previous year[10] - Interest expenses on bank loans decreased to RMB 7,283 thousand in 2022 from RMB 9,932 thousand in 2021, a reduction of 26.7%[39] - The impairment loss for trade receivables increased to RMB 5,016,000 from a gain of RMB 865,000 in the previous year[50] Assets and Liabilities - Total assets less current liabilities increased to RMB 2,087,754 thousand in 2022, up from RMB 1,978,213 thousand in 2021, representing a growth of 5.5%[30] - Non-current assets totaled RMB 753,542 thousand in 2022, compared to RMB 717,623 thousand in 2021, reflecting an increase of 5%[30] - Trade receivables and notes receivable rose to RMB 798,243 thousand in 2022, up from RMB 629,345 thousand in 2021, indicating a significant increase of 27%[30] - The company’s total current liabilities amounted to RMB 408,869 thousand in 2022, compared to RMB 398,928 thousand in 2021, reflecting a slight increase of 2.4%[30] - The company’s trade payables and notes payable totaled RMB 250,837,000 in 2022, up from RMB 182,092,000 in 2021, reflecting an increase of approximately 37.5%[74] - Cash and cash equivalents increased to RMB 618,768 thousand in 2022 from RMB 587,176 thousand in 2021, marking a growth of 5.3%[30] - Cash and bank balances as of December 31, 2022, were approximately RMB 429.0 million, down from about RMB 485.8 million as of December 31, 2021[128] - The current ratio increased from approximately 4.2 as of December 31, 2021, to about 4.3 as of December 31, 2022, primarily due to the increase in accounts receivable[178] - The capital debt ratio decreased from approximately 11.3% as of December 31, 2021, to about 7.6% as of December 31, 2022, mainly due to a reduction in bank loan balances[179] Market Expansion and Innovation - The company has initiated construction on the Jinshang-Hubei ±800KV UHVDC project in 2023, with several other projects expected to commence, indicating ongoing market expansion efforts[80] - The company actively expanded its overseas market, with revenue from foreign markets increasing in 2022, primarily due to higher sales of marine solid-state DC circuit breakers[113] - The company emphasized technological innovation and R&D, successfully passing multiple customer tests for the i20 series 1200V IGBT chips and receiving bulk orders in 2022[115] - The company launched the i20 series 1700V IGBT chips and d20 diode chips in January 2023, along with progress in developing two vehicle-grade silicon carbide modules[134] - The company is positioned to capitalize on favorable market conditions for high voltage direct current (HVDC) projects, with several projects expected to commence within the year[184] Governance and Compliance - The company has adopted the corporate governance code as per the Listing Rules Appendix 14 and has complied with all applicable provisions for the year ended December 31, 2022[188] - The board does not recommend the payment of any final dividend for the year ended December 31, 2022, consistent with the previous year[191] - The company has established a credit control department to minimize credit risk associated with trade receivables[47] - The group endorsed receivables with a face value of RMB 17,750,000 to certain suppliers, an increase from RMB 11,369,000 in the previous year, to settle trade payables[199]
赛晶科技(00580) - 2022 - 年度业绩