THEC(BJ:833509)2023-04-17 16:00Recognition and Achievements - Tonghui Electronics was selected as a national-level "specialized, refined, characteristic, and innovative" small giant enterprise[7] - The company was recognized as a provincial-level "Enterprise Technology Center"[8] - The project for the development of precision impedance testing technology and instruments received the second prize for scientific and technological progress from the Chinese Instrument and Meter Society[9] - The research and industrialization project for third-generation power semiconductor device testing equipment received support from the Jiangsu Provincial Department of Industry and Information Technology for industrial transformation and upgrading in 2022[10] - The company is recognized as a national-level "specialized, refined, distinctive, and innovative" enterprise, indicating its commitment to high-tech development[56] - The company received a high-tech enterprise certificate, allowing it to enjoy a corporate income tax rate of 15% for the 2022 fiscal year[104] Financial Performance - The company's operating revenue for 2022 was CNY 190,469,146, representing a 28.77% increase compared to CNY 147,917,112 in 2021[32] - The net profit attributable to shareholders for 2022 was CNY 56,145,538, up 33.62% from CNY 42,017,723 in 2021[32] - The gross profit margin for 2022 was 55.98%, slightly up from 54.62% in 2021[32] - Total assets at the end of 2022 reached CNY 401,166,219.87, a 7.42% increase from CNY 373,454,878.05 in 2021[34] - The total liabilities decreased by 1.13% to CNY 73,430,322.38 in 2022 from CNY 74,266,167.43 in 2021[34] - The net assets attributable to shareholders increased by 9.59% to CNY 327,111,287.30 in 2022 from CNY 298,488,874.21 in 2021[34] - The cash flow from operating activities for 2022 was CNY 33,805,023.99, down 17.87% from CNY 41,162,532.93 in 2021[37] - The accounts receivable turnover rate for 2022 was 12.49, down from 19.99 in 2021[37] - The inventory turnover rate for 2022 was 1.35, down from 1.64 in 2021[37] - The total revenue for 2022 was CNY 190,469,146, with a variance of -0.22% compared to the preliminary report[39] - The net profit attributable to shareholders was CNY 56,145,538, reflecting a -1.78% difference from the preliminary report[39] - The basic earnings per share for 2022 was CNY 0.53, which is a decrease of 1.85% from the preliminary report[39] - The company reported a total of CNY 11,385,023.56 in non-recurring gains and losses for 2022, compared to CNY 6,105,528.18 in 2021[42] Market and Competition - The company faces risks from intensified market competition, particularly in high-end electronic measurement instruments dominated by foreign companies[16] - The company is at risk of performance decline due to potential market demand shrinkage and increased competition[17] - The electronic measurement instrument market in China is projected to grow from CNY 346.7 billion in 2022 to CNY 422.9 billion by 2025[64] - The company aims to expand its market presence in semiconductor testing and new energy applications, leveraging over 20 years of experience in precision impedance measurement[46] - The company plans to continue expanding its product offerings and market presence in the electronic measurement instruments sector[21] Research and Development - Research and development expenses for the period were CNY 23.38 million, representing a year-on-year increase of 35.28%[60] - The company holds a total of 49 patents, including 22 invention patents, up from 19 in the previous period[108] - The total number of R&D personnel increased from 70 to 72, with the proportion of R&D staff in total employees rising from 24.08% to 27.56%[106] - The company is developing several new products, including a data acquisition and switching system, which aims to enhance performance and user interaction[109] - The company is working on a modular cable testing system to support various industries, including new energy vehicles and aerospace, enhancing its market competitiveness[109] - The company is focused on expanding its market presence through new product development and strategic initiatives[109] Risks and Challenges - There is a reliance on imported key components, which poses risks if trade restrictions occur[17] - The company has identified potential risks related to patent litigation and the need for timely technology updates to avoid losing customers to foreign competitors[17] - The company acknowledges the risk of performance decline due to potential market demand shrinkage and rising operational costs, and is focused on maintaining stable growth through competitive product offerings[140] - The company faces risks from intensified market competition, particularly from foreign competitors in the high-end product segment, and aims to continuously innovate to maintain its competitive edge[136] - The reliance on imported semiconductor chips poses a risk to production operations, prompting the company to seek alternative solutions and increase inventory of critical components[138] Corporate Governance and Shareholder Relations - The company has implemented a stock incentive plan to motivate employees and enhance performance[150] - The stock incentive plan aims to enhance the long-term incentive mechanism, attract and retain talent, and align the interests of shareholders, the company, and core team members[158] - The company will ensure timely and full payment of social insurance and housing fund contributions for employees, adhering to relevant laws and regulations[175] - The profit distribution policy allows for cash or stock distributions, limited to the range of cumulative distributable profits, and cannot harm the company's ongoing viability[175] - The company commits to maintaining consistency and stability in its dividend distribution policy, ensuring the authenticity of cash dividend disclosures[177] Financial Management and Investment Strategy - The company approved the use of idle self-owned funds to purchase wealth management products, totaling 7,500,000 CNY on January 25, 2022, and 5,000,000 CNY on February 1, 2022[152] - The company engaged in multiple wealth management investments throughout 2022, with amounts ranging from 1,000,000 CNY to 20,000,000 CNY, indicating a proactive approach to managing idle funds[153] - The strategic focus on cash management is part of the company's broader financial strategy to optimize resource allocation and enhance shareholder value[155] - The company aims to improve the efficiency of idle fund usage to generate higher returns for shareholders[155] - The company will strictly manage its funds to minimize external financial assistance and ensure compliance with internal control regulations[174]