JCON(BJ:836149)2023-04-25 16:00Financial Performance - In 2022, the company achieved a revenue of 38,000.00 million CNY, with a year-on-year growth of 15%[15] - The company's operating revenue for 2022 was ¥344,468,513.22, a decrease of 27.06% compared to ¥472,238,922.29 in 2021[39] - The net profit attributable to shareholders for 2022 was -¥24,191,030.79, representing a decline of 220.30% from ¥20,109,133.14 in 2021[39] - The total assets at the end of 2022 amounted to ¥641,454,786.66, down 8.69% from ¥702,468,229.32 at the end of 2021[41] - The total liabilities at the end of 2022 were ¥443,234,537.10, a decrease of 3.93% compared to ¥461,348,913.69 at the end of 2021[41] - The company's gross profit margin for 2022 was 16.05%, down from 20.54% in 2021[39] - The company reported a net loss of -¥26,850,390.69 after deducting non-recurring gains and losses for 2022, compared to a profit of ¥19,008,051.44 in 2021[39] - The cash flow from operating activities for 2022 was ¥9,778,876.55, a significant improvement from -¥70,383,025.81 in 2021[43] - The weighted average return on equity based on net profit attributable to shareholders was -13.16% in 2022, compared to 9.99% in 2021[39] Revenue Sources - The company's sales revenue from prefabricated concrete components was 17,860.24 million CNY, accounting for 52.06% of the main business revenue[16] - The company’s overseas revenue reached 2,343.66 million CNY, representing 6.83% of the total main business revenue[16] - The top five customers contributed 12,062.17 million CNY in sales, making up 31.64% of the total sales revenue[15] - The company reported overseas revenue of 23.44 million, accounting for 6.83% of total operating revenue[18] - Major customers accounted for 31.64% of total sales, with the largest client, China Vanke Co., Ltd., contributing ¥32,158,659.51, or 8.44% of total sales[83] Research and Development - R&D expenses for 2022 amounted to 16.82 million, representing 4.88% of the current operating revenue[19] - The company holds a total of 104 patents, including 6 invention patents, which are crucial for maintaining market competitiveness[20] - The company completed several R&D projects aimed at enhancing efficiency and sustainability, including a project focused on prefabricated concrete components[105] - The company is focusing on green building design and consulting systems, ensuring the implementation of green technologies[106] - The company has successfully developed a new type of green energy-saving wallboard technology, enhancing construction efficiency and safety while promoting green energy advantages[117] Market Expansion - The company plans to further expand its market presence outside of Jiangsu and Shanghai, with the establishment of branches in Nanjing and Shanghai achieving their operational goals[16] - The company is actively expanding its market presence outside of Suzhou, with the establishment of branches in Nanjing and Shanghai achieving their operational goals[148] - The company aims to enhance its cash flow by focusing on sales and receivables collection, maintaining stable credit lines with financial institutions[134] - The company anticipates a strong growth trend in the prefabricated construction sector, driven by government policies promoting modern construction methods[136] Risk Management - The company faces risks related to fluctuating raw material prices, including steel, cement, and photovoltaic components, which could impact profitability[18] - The company is at risk of cash flow shortages in subsidiaries due to increased competition and extended payment cycles[19] - The company has established a risk management system for labor subcontracting, with labor procurement costs amounting to 46.08 million yuan during the reporting period[150] - The company has identified new major risks including intensified competition in the photovoltaic industry[22] Corporate Governance - The company emphasizes the need for improved governance in response to higher regulatory standards from the Beijing Stock Exchange[22] - The company has established a comprehensive corporate governance structure, including multiple management systems, to reduce governance risks[177] - The actual controllers of the company hold a combined 41.98% of the shares, and measures are in place to protect minority shareholders' rights[174] - The company has implemented internal controls to assess the recoverability of accounts receivable, which is a critical audit matter[124] Financial Management - The company’s accounts receivable accounted for 52.81% of total assets, indicating a relatively low accounts receivable turnover rate[16] - Interest expenses for 2022 were 11.76 million, including 5.94 million related to lease financing costs[18] - The company has not recognized deferred tax assets due to uncertainties regarding the recoverability of losses[132] - The company has provided guarantees totaling CNY 4,284,000 and CNY 7,000,000 for Changzhou Jietong Prefabricated Building Co., Ltd. with a guarantee period ending in September 2022 and February 2022 respectively[185] Talent and Human Resources - The company emphasizes the importance of attracting and retaining high-end talent to support its growth and operational needs[20] - R&D personnel increased from 80 to 83, with the proportion of R&D staff in total employees rising from 21.56% to 26.02%[102] - The company emphasizes compliance with labor laws and has implemented a reasonable compensation system to enhance employee satisfaction[131] Stock Options and Incentives - The stock option incentive plan includes a total of 2.08 million stock options, representing 2.82% of the company's total share capital at the time of the announcement[192] - The first grant of stock options includes 1.664 million options, accounting for 2.26% of the company's total share capital[192] - The total estimated expense for the stock option incentive plan is 1,993,500 CNY, to be amortized over four years[198] - A total of 44 individuals were granted stock options under the incentive plan[197] Industry Trends - The market for prefabricated buildings in China is expected to grow significantly, with a target of 30% of new construction area by 2026[59] - The photovoltaic market in China saw a 59.3% year-on-year increase in new installed capacity, reaching 87.41 GW in 2022[61] - The integration of photovoltaic products with prefabricated buildings is expected to create significant development opportunities under the "dual carbon" policy[137]