Financial Performance - The company recorded a revenue of approximately RMB 2,178.4 million for the year ended December 31, 2022, a decrease of about RMB 222.0 million or approximately 9.2% compared to RMB 2,400.4 million in 2021[16] - The net profit for the year was approximately RMB 338.1 million, down about 7.8% from RMB 366.7 million in 2021[16] - Basic earnings per share for the year were RMB 0.08, a decrease of approximately 47.7% compared to RMB 0.15 in 2021[16] - The company's profit attributable to equity holders was RMB 22.8 million, a decrease of approximately 47.7% from RMB 43.6 million in 2021[50] - The gross profit for the year was approximately RMB 338.1 million, a decrease of about 7.8% from RMB 366.7 million in 2021[35] Revenue Breakdown - Sales revenue from corrugated paper packaging products was approximately RMB 1,970.0 million, a decrease of about 9.3% from RMB 2,171.4 million in 2021, accounting for approximately 90.4% of total revenue[18] - Sales revenue from corrugated paperboard was approximately RMB 208.4 million, down about 9.0% from RMB 229.0 million in 2021, representing approximately 9.6% of total revenue[19] Cost and Expenses - The company's cost of sales was approximately RMB 1,840.3 million, a decrease of about 9.5% from RMB 2,033.7 million in 2021, primarily due to reduced sales volume[20] - Financing costs increased by approximately 2.6% to about RMB 28.2 million from RMB 27.5 million in 2021[33] - The company's administrative expenses decreased by approximately 1.7% to about RMB 156.5 million from RMB 159.3 million in 2021[37] - The company's income tax expense decreased by approximately 5.8% to about RMB 17.6 million from RMB 18.7 million in 2021[38] Cash Flow and Liquidity - The net cash inflow from operating activities was approximately RMB 238.0 million, an increase of about 385.6% from RMB 49.0 million in 2021[44] - The company's cash and cash equivalents at the end of the year were approximately RMB 98.8 million, an increase from RMB 58.8 million at the beginning of the year[51] Business Strategy and Outlook - The company plans to expand its business in the Central China region and focus on improving the utilization rate of its production facilities to enhance productivity[22] - The company believes that with the relaxation of pandemic measures in mainland China and other regions, the corrugated packaging industry will gradually recover, leading to increased demand for its products[22] - The revenue and profitability of the paper packaging industry are expected to improve in 2023 due to the recovery of consumption and demand in China[25] - The packaging industry in mainland China is expected to gradually recover as pandemic restrictions are lifted, leading to improved business performance for the group[55] - The board believes that the group's products will benefit from stronger demand in 2023 due to increasing domestic market needs[55] Risk Management - Several risks and uncertainties have been identified that may impact the group's business and operations, including rising prices of key raw materials and uncertainties related to external financing and significant borrowing[55] - The group will ensure timely monitoring of inherent risks and uncertainties affecting its business and operations, taking necessary measures to mitigate risks and respond to changes[55] Shareholder Information - As of December 31, 2022, PMHC holds 192,458,200 shares, representing 64.02% ownership[122] - Jinfu Investment Limited and Elite Age International Limited each hold 195,509,200 shares, accounting for 65.03% ownership[122] - The company has not entered into any significant contracts with its controlling shareholders during the year[97] - The company has not established any related party transactions that require disclosure under the listing rules for the year[153] Corporate Governance - The company has maintained compliance with the corporate governance code as per the listing rules, ensuring high standards to protect shareholder interests[158] - The board is responsible for establishing, reviewing, and monitoring the company's corporate governance and compliance policies, ensuring compliance with applicable regulations[190] - The audit committee has been established to provide independent reviews of the group's financial reporting procedures and risk management systems[196] - All independent non-executive directors have submitted annual independence confirmations, and the company considers them to be independent individuals[200] Committees and Management - The board is supported by various committees, including the audit committee, nomination committee, remuneration committee, and environmental committee, each with clearly defined terms of reference[200] - The remuneration committee has been established to review and recommend the overall remuneration policy for directors and senior management[108] - The board is committed to efficient leadership and ensuring that all directors act in the best interests of the company and its shareholders[183]
济丰包装(01820) - 2022 - 年度财报