CORUN(SH:600478)2023-04-03 16:00Financial Performance - The company achieved a revenue of CNY 3,785,832,152.72 in 2022, representing a year-on-year increase of 23.78% compared to CNY 3,058,572,227.12 in 2021[25]. - The net profit attributable to shareholders reached CNY 178,644,387.51, a significant increase of 323.51% from CNY 42,181,723.62 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 114,464,889.58, up 604.47% from CNY 16,248,379.26 in 2021[25]. - Basic earnings per share increased by 315.38% to CNY 0.108 in 2022 from CNY 0.026 in 2021[26]. - The company achieved operating revenue of 3.786 billion yuan in 2022, a year-on-year increase of 23.78%[38]. - The company reported a net profit attributable to shareholders of CNY 31,575,068.80 in Q1 2022, with a significant increase in revenue during the same period[30]. - The total liabilities increased by 24.97% to CNY 1,171,612,719.15 in 2022 from CNY 937,547,481.36 in 2021[27]. - The total non-recurring gains and losses for the year amounted to 641.7949 million yuan, significantly higher than the previous year's 259.3334 million yuan[34]. Asset Management - The company's total assets increased by 26.06% to CNY 7,976,869,371.42 at the end of 2022, compared to CNY 6,328,000,456.90 at the end of 2021[25]. - The net assets attributable to shareholders rose to CNY 2,776,541,262.86, reflecting a 6.40% increase from CNY 2,609,433,935.84 in the previous year[25]. - The company's cash and cash equivalents rose by 34.62% to CNY 1,153,215,723.28 as of December 31, 2022, from CNY 856,618,746.00 in 2021[26]. - Long-term equity investments increased by 168.67% to 1.84 billion yuan compared to the previous period[98]. - The total inventory value decreased to ¥24,222,067.15, reflecting a 100% reduction due to stock cancellation[100]. Operational Highlights - The operating costs rose by 23.12% to CNY 3,214,633,270.11 in 2022, reflecting increased sales of power batteries and lithium materials[28]. - The company sold 420,000 sets of HEV power battery materials, achieving a new sales record[39]. - The company completed the acquisition of automotive parts manufacturer for 205,959,600 RMB, enhancing its market position[108]. - The company’s HEV nickel-hydrogen battery material sales reached approximately 2.98 billion yuan, with a year-on-year growth of 35.92%, and sales volume of 279.02 million square meters, a growth of 9.09%[66]. - The company’s HEV vehicle-mounted power battery business grew by 7.64% year-on-year, driven by the increasing domestic HEV market demand[69]. Strategic Initiatives - The company plans not to distribute profits for the year 2022, opting to reinvest the retained earnings into daily operations and ongoing projects[7]. - The company plans to complete the construction of 10,000 tons of lithium carbonate production capacity by mid-2023 and 30,000 tons by the end of 2023[40]. - The company signed a strategic cooperation framework agreement to jointly invest in the production base for lithium battery cathode materials, enhancing its lithium battery supply chain[42]. - The company aims to transition new energy storage to large-scale commercial development by 2025, with a focus on diverse technology applications and safety management in energy storage systems[59]. - The company is actively engaged in the research and development of new materials and battery manufacturing technologies[108]. Market Trends - In 2022, China's lithium-ion battery production reached 750 GWh, a year-on-year increase of over 130%, with the total industry output value exceeding 1.2 trillion RMB, doubling from 600 billion RMB the previous year[46]. - The domestic power battery market saw a shipment volume of 480 GWh in 2022, a year-on-year growth of over 110%, with lithium iron phosphate batteries accounting for 61% of the market share[48]. - The production of energy storage lithium batteries exceeded 100 GWh in 2022, representing a 213% increase compared to the previous year, with lithium-ion battery technology dominating at 94.2% of new installations[49]. - The company is focusing on the development of energy storage applications, including household and portable storage products, leveraging its cost advantages in upstream lithium resources[133]. - The consumer battery market is expected to recover in 2023, driven by the growth of 3C terminal exports and emerging fields such as 5G smartphones and smart wearables[125]. Environmental Compliance - The company maintained compliance with environmental discharge standards, with no instances of exceeding pollutant discharge limits reported[193]. - The company’s internal control audit report received a standard unqualified opinion, indicating effective internal control systems[190]. - The company reported a total phosphorus discharge of 0.049 mg/L, which is below the limit of 2 mg/L[194]. - The company’s overall emissions strategy aligns with the "Battery Industry Pollutant Emission Standards" (GB 30484-2013) to ensure environmental compliance[199]. - The company is actively monitoring and reporting emissions data to adhere to local and national environmental regulations[200]. Governance and Management - The company is committed to enhancing its service offerings, including battery testing and consulting services[117]. - The company has established a performance evaluation mechanism for senior management, linking income to contributions and responsibilities[186]. - The company respects and protects the legitimate rights of stakeholders, including employees and creditors, to promote sustainable development[144]. - The company has implemented a stock option incentive plan, with various milestones and conditions disclosed in announcements throughout 2022[183]. - The company emphasizes the importance of effective internal governance and risk management to adapt to rapid business expansion and changing product demands[136].