JSSS(SH:600220)2023-04-27 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 117,257,654.34 for the year 2022, with the parent company reporting a net profit of RMB 224,999,026.17[5]. - The total distributable profit available for shareholders at the end of 2022 was RMB 492,845,374.11 after accounting for the cash dividend distribution of RMB 35,666,806.52[5]. - The proposed cash dividend distribution is RMB 0.20 per 10 shares (tax included), amounting to a total of RMB 35,666,806.52 based on a total share capital of 1,783,340,326 shares[5]. - The remaining undistributed profit for the parent company after the dividend distribution will be RMB 457,178,567.59, to be carried forward to future years[5]. - The company achieved operating revenue of CNY 1,993.19 million in 2022, a slight increase of 0.04% compared to 2021[23]. - Net profit attributable to shareholders was CNY 117.26 million, reflecting a year-on-year growth of 1.98%[23]. - The basic earnings per share increased to CNY 0.0658, up 2.02% from the previous year[24]. - The company reported a net cash flow from operating activities of CNY -115.07 million, a significant decline of 117.19% compared to the previous year[23]. - The company’s total assets at the end of 2022 were CNY 4,744.20 million, a marginal increase of 0.02% from 2021[23]. - The company’s net assets attributable to shareholders increased by 4.20% to CNY 2,157.38 million by the end of 2022[23]. - The company’s operating profit for 2022 was CNY 151 million, representing a year-on-year increase of 6.58%[30]. - The comprehensive income for the year was approximately CNY 120.54 million, a significant increase of 171.93% compared to the previous year[45]. Dividend Policy - The company plans to submit the profit distribution proposal for approval at the 2022 annual general meeting[5]. - The company will not issue bonus shares or increase capital reserves for the year 2022[5]. - The company has implemented a cash dividend policy that enhances transparency and protects the rights of minority shareholders, ensuring they have opportunities to express their opinions[120]. - The company has not proposed any stock dividends or capital reserve transfers for the year 2022, focusing solely on cash dividends[119]. Business Operations - The textile business generated revenue of CNY 1,712 million, a growth of 6.17% year-on-year, while the gross margin improved to 31.18%, an increase of 2.95 percentage points[30]. - Domestic sales decreased by 6.29% to CNY 1,146 million, while international sales surged by 45.24% to CNY 566 million[30]. - The company’s textile business primarily uses imported Australian wool to produce high-quality woolen fabrics, which are in demand for high-end suits and uniforms[35]. - The company offers several series of woolen fabrics, including high-end luxury series with yarn counts reaching up to 500S, and traditional classic series with wool content above 95%[36]. - The Scafe fabric, made from recycled coffee grounds, boasts a drying time 200% faster than cotton and has UV protection five times stronger than cotton[38]. - The company’s thermal power business has seen a decline in revenue and profitability due to high coal prices affecting production costs, with coal being a significant portion of operating expenses[39]. - The company has invested in three thermal power plants, with compensation for steam provided to Huaneng Thermal Power at 22 yuan per ton (excluding tax)[39]. Market Environment - The overall economic environment for the textile industry remains complex, with ongoing uncertainties impacting market recovery and production stability[34]. - The textile industry in China is transitioning from "capacity expansion" to "value growth" and from "relying on exports" to "balancing domestic and international markets" amid structural upgrades[32]. - The textile industry faces ongoing risks such as structural labor shortages and rising comprehensive costs that need to be addressed for sustainable development[33]. - The textile industry is facing challenges in 2023, including high inflation, weakened demand due to economic downturns, and fluctuating raw material prices[67]. Corporate Governance - The company emphasizes the importance of the accuracy and completeness of the annual report, with all board members confirming its integrity[4]. - The company received a warning letter from the China Securities Regulatory Commission on May 30, 2022, and an administrative penalty decision on October 20, 2022, leading to active rectification measures[86]. - The company established a comprehensive investor relations management system, enhancing communication with investors and addressing their concerns[87]. - The company conducted a self-inspection in 2021 and implemented corrective measures based on the findings, improving internal controls and governance levels[88]. - The company has maintained a stable board composition with no changes in shareholding among independent directors during the reporting period[92]. - The company’s independent directors have extensive backgrounds in law and finance, enhancing governance and oversight[94]. - The company has a diverse board with members holding positions in various other companies, indicating a broad network of influence[99]. Research and Development - The company received 25 authorized patents during the reporting period, including 9 invention patents and 5 utility model patents[42]. - The company’s R&D expenses decreased by 8.44% to approximately CNY 12.52 million, indicating a focus on cost management[45]. - The company is actively involved in technology upgrades and product structure adjustments to enhance product quality and competitiveness[66]. - The company aims to enhance its core competitiveness by focusing on innovation in spinning technology, digital textiles, and high-end textile products[78]. Environmental Responsibility - The company invested 3.53 million yuan in environmental protection during the reporting period[129]. - The company has established pollution prevention facilities that operate normally and meet relevant emission standards[132]. - The company has implemented an emergency response plan for environmental incidents, which has been filed with the Jiangsu Provincial Environmental Protection Department[134]. - The company is committed to sustainable development and aims to minimize pollutant emissions in its operations[137]. - The company has complied with environmental impact assessment regulations for its construction projects[133]. Related Party Transactions - The company engaged in related party transactions with a subsidiary for purchasing raw materials amounting to 946.71 million RMB, representing 6.42% of the total[154]. - The company has established pricing principles based on market prices for all related party transactions, ensuring fair negotiation[153]. - The company emphasized that all transactions with related parties were conducted at market prices, ensuring fairness and no harm to minority shareholders[156]. - The total amount of related party debts at the end of the reporting period is approximately 1.53 billion RMB, with a decrease of 30.35 million RMB compared to the previous period[161]. Shareholder Information - The largest shareholder, Jiangsu Sunshine Group Co., Ltd., holds 226,311,454 shares, accounting for 12.69% of total shares[171]. - The total voting rights held by the top ten shareholders amount to 34.23%[171]. - The company has a total of 105,172 ordinary shareholders as of the end of the reporting period, an increase from 104,638 at the end of the previous month[168]. - The company has no significant changes in the controlling shareholder during the reporting period[174].