HBSXNBM(SH:600293)2023-04-24 16:00Financial Performance - In 2022, the company reported a net profit of -293,510,307.46 RMB, a decrease of 425.43% compared to the previous year's profit of 90,190,308.30 RMB[5]. - The total operating revenue for 2022 was 1,888,882,047.30 RMB, representing a decline of 39.24% from 3,108,551,977.05 RMB in 2021[23]. - The net cash flow from operating activities decreased by 62.09%, amounting to 313,440,998.14 RMB compared to 826,828,864.97 RMB in 2021[23]. - The company's net profit attributable to shareholders was -219.44 million CNY in Q4 2022, with a total annual net profit of -345.93 million CNY[25]. - The company achieved an annual revenue of approximately 1.89 billion CNY, with quarterly revenues of 409.40 million CNY, 527.43 million CNY, 508.09 million CNY, and 443.96 million CNY respectively[25]. - The company’s weighted average return on equity decreased to -16.09% in 2022, down from 4.71% in 2021, reflecting a significant decline in profitability[24]. - The company reported a basic earnings per share of -0.25 CNY, a decrease of 412.5% compared to 0.08 CNY in 2021[24]. - The company reported a significant decline in operating cash flow due to a sharp drop in product prices and rising material costs[50]. Assets and Liabilities - The company's total assets at the end of 2022 were 3,675,729,317.54 RMB, a decrease of 2.28% from 3,761,655,323.10 RMB in 2021[23]. - The net assets attributable to shareholders decreased by 15.01%, totaling 1,676,273,844.80 RMB at the end of 2022[23]. - The company's current assets decreased by 11.44% from the previous year, totaling CNY 1,081.42 million[52]. - Non-current assets increased by 2.11% year-on-year, amounting to CNY 2,594.31 million[52]. - Total liabilities increased by 3.10% for current liabilities, reaching CNY 1,427.63 million[52]. - The company's equity decreased to CNY 1,807,670,312.49 from CNY 2,134,263,901.24, indicating a decline of approximately 15.29%[166]. - The total liabilities of the company were reported at CNY 1,366,404,921.43, which is a critical factor in assessing the company's leverage and financial health[190]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or bonus shares for the year 2022 due to negative distributable profits[5]. - The number of ordinary shareholders increased from 51,666 to 53,530 during the reporting period[137]. - The company has a total of 103,423,072 shares at the beginning of the year, which decreased to 51,423,072 shares by year-end, indicating a substantial reduction in shareholding[71]. - The actual controller, Xu Xizhong, holds and controls 170,433,222 shares, accounting for 14.69% of the total share capital[139]. - The first major shareholder, Shenzhen Qianhai Jiahao Investment Partnership, holds 95,438,680 shares, representing 8.23% of the total share capital[142]. Operational Developments - The company launched a new production line for single silver coated glass with an annual capacity of 9 million square meters, which commenced production on July 24, 2022[32]. - The distributed photovoltaic power generation project achieved an annual average power generation of 21.94 million kWh, contributing an additional revenue of 4.388 million CNY annually[33]. - The company focused on inventory reduction and cash flow stability, successfully adjusting marketing strategies to meet regional market demands[32]. - The company produced 2.436 million heavy boxes of flat glass, with a slight increase in production volume of 3.11% year-on-year[44]. - The sales volume of flat glass was 2.325 million heavy boxes, showing a minor decline of 0.58% year-on-year[44]. Research and Development - Research and development expenses increased by 35.21% to CNY 81.78 million, reflecting a focus on innovation[41]. - The company has established a close collaboration with Wuhan University of Technology and Three Gorges University for R&D projects[49]. - Total R&D expenditure was CNY 81.78 million, which is 4.33% of operating revenue[49]. - The company employed 168 R&D personnel, making up 10.71% of the total workforce[48]. Environmental and Social Responsibility - The company invested CNY 90.49 million in environmental upgrades, resulting in a 2.67 percentage point increase in operational compliance days[34]. - The total emissions for 2022 included 780.628 tons of sulfur dioxide and 1,432.264 tons of nitrogen oxides, with a year-on-year increase of 70.192 tons and 185.529 tons respectively[96]. - The company has established a rooftop photovoltaic power generation project in 2022 to enhance the use of clean energy[105]. - The company provided a total of 315,557.40 RMB in support for employee welfare and rural consumption poverty alleviation during the reporting period[107]. - The company disclosed its 2022 Social Responsibility Report alongside its annual report, emphasizing its commitment to sustainable development[106]. Legal and Regulatory Issues - The company faced significant litigation issues, including a contract dispute resulting in the freezing of 11,128,680 shares[120]. - The company has ongoing litigation involving a claim for 56,000,000 RMB related to a stock transfer dispute[124]. - The actual controller of the company, Xu Xizhong, was criminally detained for loan fraud in November 2020, and the case is still under review[126]. - The company is currently under scrutiny for its financial disclosures and the integrity of its financial reporting practices[126]. - The company has acknowledged the existence of substantial personal debts owed by its actual controller[127]. Audit and Financial Reporting - The company has received a qualified audit opinion from its accounting firm, indicating potential issues that investors should be aware of[4]. - The audit opinion includes a reservation due to the inability to obtain sufficient audit evidence regarding the operating results and cash flows of Shenzhen Hengbo for the second half of 2021[149]. - The audit report emphasizes the importance of management's judgments and estimates in the financial statements[154]. - The financial statements are prepared based on the assumption of going concern, following the relevant accounting standards[196]. - The financial report highlights the experience of key executives, including the financial director Liu Yimin, who has a background as a registered accountant and senior business manager[72].