Financial Performance - The total revenue for the fiscal year 2022 was approximately RMB 289.0 million, a decrease of about 22.0% compared to RMB 370.3 million in the fiscal year 2021[11]. - Gross profit for the fiscal year 2022 was approximately RMB 60.4 million, down RMB 21.4 million or 26.2% from RMB 81.8 million in the fiscal year 2021, resulting in a gross margin decrease from 22.1% to 20.9%[11]. - The profit attributable to shareholders for the fiscal year 2022 was approximately RMB 25.0 million, compared to RMB 35.7 million in the fiscal year 2021[11]. - The overall revenue of the company decreased by approximately RMB 81.3 million or 22.0% to about RMB 289.0 million for the fiscal year 2022, compared to approximately RMB 370.3 million for fiscal year 2021[20]. - Total comprehensive income decreased by approximately RMB 10.7 million or 30.0% to about RMB 25.0 million for fiscal year 2022, compared to approximately RMB 35.7 million for fiscal year 2021[31]. - The cost of sales decreased by approximately RMB 60.0 million or 20.8% to about RMB 228.5 million for fiscal year 2022, from approximately RMB 288.5 million in fiscal year 2021[21]. - Employee costs for the fiscal year 2022 totaled approximately RMB 137 million, an increase from RMB 121 million in the previous fiscal year[49]. Operational Challenges - The company faced operational challenges due to power shortages in Hubei Province and COVID-19 restrictions, impacting customer orders and overall performance[15][16]. - The operational adjustments made in response to local government requests during power shortages posed challenges to maintaining optimal production levels[16]. Market Outlook - Future demand for tobacco products is expected to remain stable despite government anti-smoking policies, with an anticipated increase in demand for mid-to-high-end cigarette packaging due to rising consumer purchasing power[12]. - The company expects stable demand for tobacco products in China despite government smoking control policies, with an anticipated increase in demand for mid-to-high-end cigarettes due to rising purchasing power[50]. Corporate Governance - The company adheres to high standards of corporate governance and has complied with the applicable code provisions since the listing date[71]. - The board is responsible for formulating business policies and strategies, ensuring sufficient resources, and the effectiveness of internal control systems[73]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[74]. - The board is committed to ensuring at least three independent non-executive directors, meeting the independence requirements of the listing rules[80]. - All independent non-executive directors confirmed their independence and there are no circumstances affecting their independence[80]. - The company has established a mechanism to ensure strong independence elements within the board[81]. - The board has adopted a diversity policy to enhance performance quality and support strategic goals[89]. Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of the group's operational performance and strategies[126]. - The company has adopted a shareholder communication policy to ensure transparency and timely disclosure of information to facilitate optimal investment decisions[128]. - The company encourages shareholders to provide updated contact information to ensure timely and effective communication[131]. - Shareholders holding at least 10% of the paid-up capital can request the board to convene a special general meeting within two months of the request[122]. - The company has established procedures for shareholders to propose inquiries and convene special meetings, ensuring transparency and shareholder rights[120]. Capital Management - The company decided not to declare a final dividend for fiscal year 2022, while a dividend of approximately RMB 37.9 million was declared for fiscal year 2021[44]. - The company has adopted a dividend policy aimed at balancing shareholder interests with prudent capital management, with no predetermined dividend payout ratio[158]. - The company had cash and cash equivalents totaling approximately RMB 110.3 million as of December 31, 2022, compared to approximately RMB 58.6 million as of December 31, 2021[34]. - The company had no bank borrowings as of December 31, 2022, down from RMB 10.0 million as of December 31, 2021[34]. Board Composition and Diversity - Liu Yimin appointed as independent non-executive director on June 2, 2022, with over 8 years of corporate management experience[60]. - Chen Yangde appointed as independent non-executive director on June 2, 2022, with over 15 years of experience in auditing, accounting, and financial management[63]. - Feng Yuan appointed as independent non-executive director on June 2, 2022, with over 10 years of experience in IT business management[64]. - Li Xiaoli serves as Chief Financial Officer with over 30 years of experience in accounting and financial management[65]. - Bao Zhigang serves as Chief Technology Officer with over 15 years of experience in the paper industry[67]. - Song Zhengmei serves as Chief Product Officer with over 10 years of experience in product quality control[68]. - As of December 31, 2022, the gender ratio of the company's employees (including senior management) is approximately 80:37, indicating a commitment to gender diversity[91]. - The company has established a board diversity policy, ensuring at least one female board member and plans to increase this number over the next five years[90]. Risk Management - The company faced various risks and uncertainties as outlined in the "Risk Factors" section of the prospectus[160]. - The board is responsible for maintaining effective internal controls and risk management systems, ensuring shareholder interests and asset protection[118]. - The audit committee assists the board in reviewing the effectiveness of the internal control and risk management systems, with annual assessments conducted[118]. Related Party Transactions - The group reported that the largest customer accounted for approximately 21.1% of total revenue in the year, down from 25.4% in 2021, while the top five customers represented 74.9% of total revenue, slightly decreasing from 75.4% in 2021[145]. - The group’s largest supplier accounted for about 23.4% of total procurement, an increase from 22.6% in 2021, and the top five suppliers represented approximately 55.8% of total procurement, up from 54.0% in 2021[145]. - The related party transactions disclosed in the financial statements do not meet the definitions of "connected transactions" or "continuing connected transactions" under the listing rules[200].
伟立控股(02372) - 2022 - 年度财报