Zoomlion(HK:01157)2023-04-25 08:30Financial Performance - In 2022, the company's operating revenue was CNY 41.63 billion, a decrease of 37.98% compared to CNY 67.13 billion in 2021[7]. - The net profit attributable to shareholders was CNY 2.31 billion, down 63.22% from CNY 6.27 billion in the previous year[7]. - The net profit after deducting non-recurring gains and losses was CNY 1.29 billion, a decline of 77.82% from CNY 5.83 billion in 2021[7]. - The basic earnings per share decreased to CNY 0.27, down 64.47% from CNY 0.76 in 2021[7]. - The company's revenue decreased by 37.99% from RMB 67.13 billion in 2021 to RMB 41.63 billion in 2022[59]. - The cost of sales and services reduced by 36.54% from RMB 51.28 billion in 2021 to RMB 32.54 billion in 2022[60]. - Gross profit fell by 42.67% from RMB 15.85 billion in 2021 to RMB 9.09 billion in 2022, with a gross margin decline from 23.61% to 21.83%[61]. - Other income decreased from RMB 1.41 billion in 2021 to RMB 0.98 billion in 2022, primarily due to a reduction in government subsidies[62]. - Selling expenses dropped by 24.13% from RMB 3.47 billion in 2021 to RMB 2.63 billion in 2022[63]. - General and administrative expenses increased from RMB 1.98 billion in 2021 to RMB 2.40 billion in 2022, mainly due to increased inventory impairment losses[64]. - Net profit for the year decreased by 62.21% from RMB 6.42 billion in 2021 to RMB 2.43 billion in 2022[66]. Assets and Liabilities - The total assets at the end of 2022 were CNY 123.55 billion, an increase of 1.26% from CNY 122.02 billion at the end of 2021[7]. - The net assets attributable to shareholders decreased to CNY 54.74 billion, down 3.74% from CNY 56.87 billion in 2021[7]. - The company's leverage ratio increased to 53.90% in 2022 from 52.24% in 2021[8]. - Non-current assets reached RMB 49.915 billion in 2022, while current assets were RMB 73.602 billion, indicating a stable asset base[9]. - The total assets minus current liabilities stood at RMB 75.124 billion in 2022, reflecting a solid financial position[9]. - The net assets attributable to shareholders were RMB 54.705 billion at the end of 2022, down from RMB 56.831 billion in 2021[9]. - The total financial liabilities as of December 31, 2022, were RMB 63.737 billion, with RMB 46.967 billion due within one year[72]. Market Position and Strategy - The company maintained its leading market position in concrete machinery, with a market share that remains the highest in the industry for long-arm pump trucks and truck-mounted pumps[13]. - The company has established dual manufacturing bases in Weinan and Changsha for earth-moving machinery, enhancing production capabilities and market share[14]. - The agricultural machinery segment is focusing on new product development, with significant market shares in domestic wheat machines, dryers, rotary tillers, and transplanting machines[16]. - The company aims to enhance core competitiveness in R&D, manufacturing, management, sales, and service[6]. - The company aims to strengthen its market share in the domestic and overseas markets, focusing on high-end markets in Europe and America, achieving the highest market share for Chinese brands in Canada, Mexico, Brazil, and Poland[30]. - The company is accelerating the development of overseas markets with a localized team approach and differentiated market strategies[37]. Innovation and Development - The company emphasized a focus on high-quality development and innovation in new energy, new materials, and digital transformation for future growth[5][6]. - The company has made significant progress in digital transformation, focusing on IoT, cloud computing, big data, and industrial AI, aiming for a comprehensive upgrade in management and manufacturing models[19]. - The company has successfully developed 127 major new products in 2022, with nearly 77% of projects focused on digitalization, intelligence, and greening[25]. - The company has achieved breakthroughs in new energy products across lithium batteries, electric drives, and hydrogen energy, leading the industry in green technology[27]. - The company has developed 15 new energy products, including the world's first pure electric spider-type aerial work platform and a 220-ton hybrid all-terrain crane[28]. - The company has established a smart manufacturing industrial cluster, with the world's only fully automated excavator manufacturing base and multiple intelligent production lines in operation[21]. Environmental, Social, and Governance (ESG) - The company has identified 23 significant ESG issues for the year, based on the guidelines from the Hong Kong Stock Exchange and the SASB[87]. - The company is committed to achieving the "3060" dual carbon goals and has developed a preliminary plan for carbon emission accounting to support its green transformation[91]. - The company emphasizes safety, green development, and high-quality development as part of its corporate vision, continuously improving its environmental management system[91]. - The company has implemented a comprehensive environmental management system and achieved all parks obtaining pollution discharge permits, ensuring compliance with design discharge requirements[93]. - The total greenhouse gas emissions in 2022 amounted to approximately 173,047.25 tons, a decrease from 208,096.31 tons in 2021, with a greenhouse gas emission density of 4.16 tons per million revenue, up 34% from 3.10 tons per million revenue in 2021[96]. - The company has implemented strict waste management practices, categorizing waste into recyclable, non-recyclable, and hazardous waste, and ensuring compliance with national regulations[97]. Employee and Talent Management - The company employs around 25,283 staff members as of December 31, 2022[47]. - The employee turnover rate for the year was 13.90%, with a higher rate of 25.2% for those aged 25 and below[112]. - The company has maintained a 100% labor contract signing rate and full coverage of social insurance for employees[108]. - Employee satisfaction with the cafeteria services has consistently remained above 90%[110]. - The company has implemented various employee welfare programs, including marriage and maternity benefits[109]. - In 2022, the company trained a total of 25,283 employees, achieving a training coverage rate of 100%, with an average training hour per employee of 30.78 hours[125]. Corporate Governance - The company has established measures and reporting procedures to prevent corruption and ensure compliance[179]. - The company has conducted 12 large-scale integrity education sessions, involving various employee groups, to strengthen the anti-corruption atmosphere[153]. - No violations of anti-corruption laws or regulations were found during the year, and no corruption incidents were reported[156]. - The board of directors is responsible for overseeing the company's overall ESG vision and strategies, reviewing progress on ESG goals at least twice a year[85]. Community Engagement - In 2022, the company invested over 10 million yuan in community initiatives, focusing on charity donations, education support, and emergency rescue efforts[157]. - The company contributed 690,000 yuan to rural construction and education in Hunan province, improving infrastructure such as roads and health centers[158]. - A total of 2 million yuan was donated to support university students from impoverished areas, continuing an 18-year commitment to educational assistance[159]. - The company organized volunteer activities, including tree planting, with over 80 young volunteers participating in community service[164].