Financial Performance - Total revenue for the fiscal year 2022 was approximately RMB 273.6 million, an increase of 37.9% compared to RMB 198.4 million in fiscal year 2021[5]. - Sales revenue from spherical graphite and its by-products reached approximately RMB 131.3 million, up 33.3% from RMB 98.5 million in the previous year[5]. - Sales revenue from flake graphite concentrate was approximately RMB 138.3 million, representing a 41.6% increase from RMB 97.7 million in fiscal year 2021[5]. - Gross profit for fiscal year 2022 was approximately RMB 135.9 million, a 46.1% increase from RMB 93.0 million in fiscal year 2021, with a gross margin rising to 49.7% from 46.9%[5]. - Adjusted net profit, reflecting the actual operational performance, was approximately RMB 83.8 million, a 60.1% increase from RMB 52.3 million in the previous year, with an adjusted net profit margin of 30.6%[5]. - The gross profit margin improved from approximately 46.9% in 2021 to about 49.7% in 2022[18]. - The adjusted net profit after tax increased by approximately 60.1% from about RMB 52.3 million in fiscal year 2021 to approximately RMB 83.8 million in fiscal year 2022[66]. - The actual tax rate increased to 15.9% in fiscal year 2022 from 12.4% in fiscal year 2021, primarily due to non-deductible listing expenses and increased expenses from the Hong Kong office[65]. - The adjusted net profit margin for 2022 was 30.6%, up from 26.4% in 2021, showcasing better profitability[83]. Dividend and Shareholder Information - The board proposed a final dividend of HKD 0.016 per share, subject to approval at the annual general meeting scheduled for May 5, 2023[5]. - The company proposed a final dividend of HKD 0.016 per share for the fiscal year ended December 31, 2022[20]. - Shareholders can submit proposals in writing to the board for consideration at the annual general meeting, with a notice period of at least 15 business days[192]. - The company has multiple communication channels to engage with shareholders and ensure their rights are protected during general meetings[190]. - The company emphasizes effective communication with shareholders to strengthen investor relations and understanding of business performance and strategy[197]. Production and Sales - The production of flake graphite concentrate increased from approximately 48,200 tons in 2021 to about 52,500 tons in 2022, representing a growth of approximately 8.9%[21]. - The sales volume of spherical graphite rose by approximately 18.3%, from about 6,061 tons in 2021 to approximately 7,169 tons in 2022[22]. - The sales volume of micro graphite powder and high-purity graphite powder reached approximately 10,091 tons in 2022, a rise of about 29.7% from the previous year[22]. - The company anticipates that flake graphite production capacity will increase to at least 60,000 tons annually by the end of 2023, and to at least 100,000 tons after the new beneficiation plant is operational in Q4 2025[21]. - The increase in sales of unprocessed marble contributed to revenue growth, with sales rising to approximately RMB 3.9 million in fiscal year 2022 from RMB 2.2 million in fiscal year 2021[54]. Costs and Expenses - The sales cost for fiscal year 2022 rose to approximately RMB 137.7 million, a 30.7% increase from RMB 105.3 million in fiscal year 2021, driven by increased production and operational activities[55]. - The company reported a cost of approximately RMB 22.6 per ton for extracting graphite ore in fiscal year 2022, up from RMB 20.1 per ton in fiscal year 2021[44]. - In the fiscal year 2022, the total mining costs amounted to RMB 25,589 thousand, significantly up from RMB 10,980 thousand in the previous year[42]. - General and administrative expenses increased by approximately 30.8% to about RMB 25.8 million in fiscal year 2022, compared to approximately RMB 19.7 million in fiscal year 2021[60]. - Research and development expenses rose by approximately 41.9% to about RMB 11.5 million in fiscal year 2022, up from approximately RMB 8.1 million in fiscal year 2021[61]. Corporate Governance - The company has complied with all applicable corporate governance code provisions since its listing date, except for a specific provision related to the chairman and CEO[126]. - The board consists of executive and independent non-executive directors, ensuring a diverse range of expertise and perspectives[130]. - The company has established various committees, including audit, remuneration, nomination, and compliance committees, to operate under the board's authority[148]. - The board is responsible for leading and controlling the company, overseeing operational and financial performance, and ensuring robust internal controls and risk management systems[143]. - The company has adopted a whistleblowing policy to allow employees and stakeholders to report potential misconduct confidentially, including financial reporting and internal controls[175]. Future Outlook and Strategy - The company aims to leverage the strong demand for lithium battery anode materials driven by the rapid growth of the electric vehicle industry for future growth[17]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[109]. - The company is investing in R&D for new technologies, with a budget allocation of $5 million for the upcoming year[109]. - The management team has set a performance guidance of achieving a net profit margin of 20% by the end of the next fiscal year[109]. - The company has successfully launched a new product line, contributing to a 30% increase in sales in the last quarter[109]. Risk Management - The board has confirmed the effectiveness of the risk management and internal control systems as of December 31, 2022, with no significant concerns identified[175]. - The company employs a risk self-assessment method to continuously evaluate and manage its risk profile[174]. - The board confirmed that the risk management and internal control systems were effective during the reporting period, with no significant deficiencies identified[179]. Employee and Workforce - The total number of employees increased to 196 as of December 31, 2022, compared to 178 in 2021, aligning with expected production increases[90]. - The company aims to create favorable conditions for attracting more women to the workforce, addressing challenges in the labor market[166]. - As of December 31, 2022, the workforce is composed of 79.1% male employees and 20.9% female employees, with efforts to increase female representation in senior management[166].
中国石墨(02237) - 2022 - 年度财报