Financial Performance - For the year ended December 31, 2022, the company's revenue increased by 24.5% to RMB 208 million, compared to RMB 167 million in 2021[12]. - Gross profit for the year was RMB 47.5 million, representing a 33.3% increase from RMB 35.6 million in the previous year[12]. - Profit before income tax surged to RMB 23.4 million, a significant increase of 459.9% from RMB 4.2 million in 2021[12]. - The net profit for the year reached RMB 22.6 million, up 379.8% from RMB 4.7 million in 2021[12]. - Basic and diluted earnings per share rose to RMB 17.66 cents, compared to RMB 3.68 cents in the previous year, marking a 379.8% increase[12]. - Revenue increased by approximately RMB 41.0 million or 24.5% to approximately RMB 208.0 million in 2022, compared to RMB 167.0 million in 2021, primarily due to three significant contracts totaling RMB 590 million with Zenith Steel Group[38]. Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 945.7 million, a 29.0% increase from RMB 733.0 million in 2021[13]. - Total liabilities increased by 188.4% to RMB 291.1 million, up from RMB 100.9 million in 2021[13]. - The current ratio decreased to 2.7 from 5.8 in the previous year, indicating a tighter liquidity position[13]. - Total contract assets and trade receivables increased by approximately 3.1% to approximately RMB 317.7 million as of December 31, 2022, from approximately RMB 308.2 million at the end of 2021[64]. - Trade and notes payables increased by approximately 229.2% from approximately RMB 47.9 million as of December 31, 2021, to approximately RMB 157.6 million as of December 31, 2022, primarily due to increased purchases of raw materials and equipment[69]. Inventory and Receivables - Inventory turnover days increased to 344.7 days from 238.1 days, suggesting slower inventory movement[13]. - Trade receivables turnover days improved to 456.9 days from 568.6 days, indicating better collection efficiency[13]. - Inventory increased by approximately 80.3% to approximately RMB 196.5 million as of December 31, 2022, compared to approximately RMB 109.0 million at the end of 2021, mainly due to an increase in unfinished sales contracts[65]. - Net impairment losses on financial assets and contract assets increased to approximately RMB 4.3 million in 2022 from approximately RMB 3.4 million in 2021, mainly due to an increase in the balance of contract assets and accounts receivable[59]. Operational Highlights - The Group was awarded the honorary title of "Professional, Refined, Special and Innovative Small and Medium Enterprise in Jiangsu Province for 2022," reflecting its innovation capabilities and core competitiveness[22]. - The Group successfully secured a project with Zenith Steel Group, demonstrating its ability to adapt and manage production effectively under challenging conditions[30]. - The domestic economy is expected to gradually recover in 2023, which may positively impact the Group's performance in the automotive supply chain[24]. - The Group plans to upgrade its products and develop new projects to explore new profit streams, maintaining a stable growth trajectory[25]. Employee and Management - The total employee remuneration for the year ended December 31, 2022, was approximately RMB 24.3 million, an increase from approximately RMB 20.2 million in 2021[100]. - The company employed a total of 192 full-time employees as of December 31, 2022, compared to 140 employees as of December 31, 2021[100]. - The company has not experienced any significant labor disputes or high employee turnover that would disrupt normal business operations[104]. - The remuneration policies are regularly reviewed and linked to individual performance, with a focus on retaining and motivating executive Directors[101][102]. Governance and Compliance - The Board of Supervisors found no violations of laws or regulations by the Directors and senior management during their performance of duties[191]. - The Group's operations were deemed sound and compliant with all applicable laws and regulations[194]. - The Board of Supervisors verified the Group's 2022 consolidated financial statements, which fairly reflected the Group's financial position and operating results[198]. - The Board of Supervisors will continue to protect the interests of Shareholders in strict compliance with the Articles of Association and relevant laws[199]. Future Outlook - In 2023, the company anticipates sustainable growth in the new energy vehicle market, driven by strategies to boost domestic demand and improve internal production processes[97][99]. - The company aims to enhance production efficiency and control costs to strengthen product competitiveness amidst a challenging operating environment[97][99]. - Future plans include continuing to implement a diversified development strategy and actively seeking potential investment opportunities[122].
盛力达科技(01289) - 2022 - 年度财报