TTC(SH:600326)2023-04-18 16:00Financial Performance - In 2022, the company reported a net profit of -601,626,656.29 CNY, with a net profit attributable to the parent company of -518,696,751.24 CNY[5]. - The total revenue for 2022 was 3,845,308,504.77 CNY, representing a decrease of 33.44% compared to 2021[24]. - The net profit attributable to shareholders of the listed company for 2022 was -518.70 million RMB, a decrease of 1,397.50% from the previous year's profit of 40.02 million RMB[28]. - The basic earnings per share for 2022 was -0.56 RMB, a decrease of 1,500.00% compared to 0.04 RMB in 2021[28]. - The total profit was CNY -0.612 billion, a decline of CNY 7.27 billion or 632.17% compared to a profit of CNY 0.115 billion in the previous year[68]. - The net profit was CNY -0.602 billion, a decrease of CNY 7.02 billion or 702.00% from CNY 0.1 billion in the same period last year[68]. - The company faced a cash flow from operating activities of -48.79 million RMB, indicating a negative cash flow situation[25]. - The company reported a significant drop in investment income, down 88.19% to ¥5,926,136.09 from ¥50,187,469.18, due to decreased returns from joint ventures and financial products[71]. - The company reported a significant increase in credit impairment losses due to poor collection of project payments, impacting overall performance in 2022[146]. Revenue Breakdown - The company’s revenue from main operations was 3,839,507,535.43 CNY, also reflecting a decline of 33.25% from the previous year[24]. - The construction segment's revenue decreased by 9.52 billion RMB year-on-year, primarily due to project completions and significant delays in new project approvals[26]. - The revenue from the construction segment in 2022 was ¥3.32 billion, accounting for 8.65% of total revenue, down from 16.28% in 2021[179]. - The revenue from highway engineering in 2022 was ¥743.30 million, representing 19.33% of total revenue, compared to 21.69% in 2021[179]. - The building materials sector generated revenue of 2,148,338,621.83, with a gross profit margin of 7.19%, reflecting a year-over-year revenue decline of 29.70% and a gross profit decrease of 16.38%[75]. - The municipal road segment saw revenue of 574,773,315.61, with a gross profit margin of 9.06%, indicating a significant year-over-year revenue increase of 40.08%[76]. - The highway engineering sector reported revenue of 743,304,420.33, with a gross profit margin of 3.17%, showing a year-over-year revenue decline of 40.68%[76]. - The cement sales segment achieved revenue of 1,616,456,144.66, with a gross profit margin of 5.05%, reflecting a year-over-year revenue decrease of 20.21%[77]. Asset Management - The total assets at the end of 2022 were 13.705 billion RMB, a decrease of 3.15% from 14.152 billion RMB at the end of 2021[25]. - The company’s total assets as of December 31, 2022, were reported to be RMB 505,493,229.84[153]. - The company’s comprehensive income increased by 89.57% to 213,746,245.02 RMB, mainly due to fair value changes in investments[44]. - The company’s deferred income tax assets increased by 37.83% to 55,607,975.95 RMB, attributed to the recognition of recoverable losses[43]. - The company’s inventory of cement at the end of 2022 was 11.88 million tons, reflecting a strategic focus on inventory management[82]. Strategic Initiatives - The company plans to actively respond to market changes and adjust production strategies to mitigate losses in the future[31]. - The company is implementing a new development strategy focusing on enhancing the construction industry, strengthening the building materials sector, and exploring new energy industries[46]. - The company plans to enhance its market marketing strategies and develop special cement products to improve competitiveness[53]. - The company is exploring the development of the renewable energy sector, including a 3.5MW distributed photovoltaic project in Chengdu[57]. - The company aims to optimize its asset structure by subscribing to shares of China Electric Power Construction at a total amount of approximately 429.99 million yuan[55]. Governance and Compliance - The company’s governance structure is in compliance with the requirements of the China Securities Regulatory Commission, with no significant discrepancies[189]. - The company guarantees the independence of its assets, personnel, finance, organization, and business from its controlling shareholder[190]. - The company has established a dedicated investor relations management system to enhance communication with shareholders[189]. - The company has committed to maintaining an independent financial accounting system and decision-making process[190]. - The company will disclose any related transactions in a timely manner, adhering to legal procedures[192]. Research and Development - The company has increased its research and development expenditure by 96.26% to 2,955,304.86 RMB, reflecting a focus on new product development[42]. - The company has a total of 434 R&D personnel, making up 20.35% of the total workforce[108]. - The company conducted 32 research projects in 2022, with a total investment of 87,480,726.67 yuan in R&D[112]. - The company is focusing on the development of special cements with low alkali and low heat, increasing product awareness and reputation through enhanced advertising efforts[170]. - The company is actively engaging in research and development of environmentally friendly materials and exploring new energy projects, such as green low-carbon phase change energy storage glass[171]. Market Challenges - The company faced challenges in the construction sector due to project delays and changes in bidding processes, impacting revenue and profit margins[79]. - The overall market environment negatively affected the demand for building materials, leading to a decrease in sales volume and revenue[80]. - The company experienced increased competition in the construction materials market, leading to a significant decline in sales volume and revenue in 2022[146]. - The company anticipates a shift from rapid growth to stable operations in its building materials segment, with a projected decline in gross profit margins[141]. Future Outlook - The company aims to expand its market presence through new contracts and project acquisitions in 2023[83]. - The company is actively pursuing technological advancements in cement production to enhance efficiency and reduce costs[84]. - The company is committed to improving its overall competitiveness through meticulous project management and strict adherence to contract obligations[169]. - The company is focused on expanding its construction capabilities in high-altitude areas, indicating a strategic market expansion[130]. - The company plans to enhance financial management and improve the financial management capabilities of its personnel[175].