CRRC(01766)2023-04-18 08:37Financial Performance - The company's total revenue for 2022 was RMB 222.94 billion, a decrease of 1.24% from RMB 225.73 billion in 2021[19]. - Net profit attributable to shareholders for 2022 was RMB 11.65 billion, an increase of 13.11% compared to RMB 10.30 billion in 2021[15]. - Basic earnings per share for 2022 rose to RMB 0.41, reflecting a growth of 13.89% from RMB 0.36 in 2021[11]. - Operating profit for 2022 was RMB 15.98 billion, an increase from RMB 12.83 billion in 2021[19]. - The net cash flow from operating activities for 2022 was RMB 23.95 billion, compared to RMB 20.59 billion in 2021[19]. - In 2022, the company achieved operating revenue of CNY 222.94 billion, a decrease of 1.24% compared to the previous year[51]. - The net profit attributable to shareholders was CNY 11.65 billion, an increase of 13.11% year-on-year[51]. - The total assets as of December 31, 2022, amounted to CNY 442.14 billion, reflecting a growth of 3.59%[51]. - The cash flow from operating activities was a net inflow of CNY 23.953 billion, an increase of CNY 3.361 billion compared to the previous year[66]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.20 per share, totaling RMB 5.74 billion, based on the total share capital of 28,698,864,088 shares[7]. - The company plans to distribute a cash dividend of RMB 0.20 per share, totaling RMB 5.74 billion, which represents 49.25% of the net profit attributable to shareholders for the year 2022[115]. - The cash dividend is expected to be paid on or before August 11, 2023, pending approval from the annual general meeting[115]. - The cash dividend amount is included in the total cash distribution, which is RMB 5,739,773,000[118]. - The company has a tax withholding obligation of 10% for non-resident corporate shareholders receiving dividends[119]. Business Strategy and Development - China CRRC is focusing on high-quality development and aims to achieve "seven new breakthroughs" in 2023, targeting effective qualitative improvements and reasonable quantitative growth[25]. - The company is transitioning towards a "manufacturing + service" model, optimizing its business structure and enhancing lifecycle service capabilities[29]. - The company is actively promoting compliance management as a core competitive advantage, reflecting its commitment to corporate governance[24]. - The international business strategy aims to expand into international markets for rail transportation and new industries, promoting overseas investments and strategic acquisitions[35]. - The company aims to enhance its global competitiveness and innovation capabilities in the railway equipment sector, maintaining its leading position in the industry[100]. Research and Development - Research and development expenses for 2022 were RMB 13.13 billion, slightly up from RMB 13.09 billion in 2021[19]. - The R&D investment totaled CNY 13.292 billion, accounting for 5.96% of operating revenue, with capitalized R&D representing 1.22%[63]. - In 2022, the company filed 5,374 patent applications, winning 1 gold, 4 silver, and 3 excellence awards at the 23rd China Patent Awards[44]. - The company achieved significant technological advancements, including the new "Fuxing" high-speed train reaching a world record speed of 870 km/h and the successful launch of the 10MW offshore wind turbine "Hai Ping Mian No. 1"[44]. Market Presence and Expansion - The company expanded its global presence, providing products and services to 116 countries and regions, enhancing its brand value as a leading state-owned enterprise in the machinery sector[24]. - The company is actively expanding its market presence in local railways and urban transportation, with successful international bids in Mexico and Colombia[50]. - The company is focusing on digital transformation and management enhancement, with the launch of several information systems to improve operational efficiency[50]. - The company is committed to promoting high-quality development in manufacturing and aims to attract quality resources to the manufacturing sector[92]. Environmental and Social Responsibility - The company adheres to Xi Jinping's ecological civilization thought, promoting green, low-carbon, and circular development[149]. - The company achieved a reduction in carbon emissions by approximately 30,000 tons through the implementation of rooftop photovoltaic systems, generating around 50 million kWh annually[158]. - The company has established a carbon emission accounting system as part of its dual carbon action plan, enhancing its green manufacturing system[158]. - The company’s hazardous waste management practices include comprehensive identification, classification, and compliance with legal disposal requirements[155]. Governance and Compliance - The company has established a quality responsibility system to ensure product safety and reliability, addressing heightened regulatory requirements[109]. - The company has implemented a mechanism to ensure independent viewpoints and opinions are obtained for board discussions[187]. - The company continues to prioritize compliance and governance as part of its operational strategy[161]. - The board of directors actively participated in continuous professional development in 2022, with all members attending training sessions categorized under A, B, and C[191][192]. Workforce and Human Resources - The total number of employees in the company is 157,237, with 188 in the parent company and 157,049 in major subsidiaries[180]. - The company has implemented a comprehensive salary management system, integrating various compensation modules to align with market trends[181]. - In 2022, the company organized 18 key training programs, training over 8,500 participants, while subsidiaries conducted a total of 231,000 training sessions[182]. - The company has established a training plan focusing on leadership, digitalization, and internationalization to enhance talent development[182].