GACO(SH:600523)2023-03-13 16:00Financial Performance - The company's operating revenue for 2022 was CNY 2,153,258,906.35, a decrease of 10.07% compared to CNY 2,394,314,320.13 in 2021[23]. - The net profit attributable to shareholders for 2022 was CNY 122,780,957.98, down 19.70% from CNY 152,895,335.72 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 112,739,275.10, a decline of 21.86% compared to CNY 144,269,544.72 in 2021[23]. - Cash flow from operating activities for 2022 was CNY 140,987,783.07, a decrease of 39.55% from CNY 233,241,350.39 in 2021[24]. - The total profit for the year was 144 million RMB, down 19.72% compared to the previous year[34]. - The basic earnings per share decreased by 21.05% to 0.30 RMB per share in 2022[25]. - The weighted average return on net assets was 4.42%, a decrease of 1.32 percentage points from 2021[25]. Assets and Liabilities - The total assets at the end of 2022 were CNY 3,448,311,273.02, an increase of 3.83% from CNY 3,320,957,433.73 at the end of 2021[24]. - The net assets attributable to shareholders increased to CNY 2,818,453,529.95, reflecting a growth of 3.35% from CNY 2,726,991,200.92 in 2021[24]. - The company’s asset-liability ratio stood at 16.31%[34]. - The company’s receivables and inventory accounted for 46.08% of total assets, an increase of 1.94 percentage points year-on-year[34]. - The company maintained a debt-to-asset ratio of approximately 16%, indicating no debt risk[37]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.10 per 10 shares, totaling CNY 44.47 million, which accounts for 36.22% of the net profit attributable to shareholders[5]. - In 2022, the company proposed a cash dividend of 1.10 RMB per 10 shares, totaling 44,474,245.20 RMB, which represents 36.22% of the net profit attributable to ordinary shareholders[141]. Research and Development - The company’s R&D investment accounted for 5.1% of total revenue, an increase of 0.82 percentage points compared to 2021[39]. - The company filed 132 patent applications, representing a year-on-year growth of 55.29%, with 42 of these being invention patents, up 68%[39]. - The total R&D investment reached 109.89 million yuan, representing 5.10% of the operating income[67]. - The number of R&D personnel is 632, which constitutes 19.24% of the total workforce[68]. Operational Efficiency - The company completed a cost reduction plan with a completion rate of 107.92%, exceeding targets in technical, quality, and production management cost reductions[37]. - The company has implemented a strict budget management system, ensuring full participation in budget preparation and execution analysis[36]. - The company is focusing on reducing production costs and improving quality stability through ongoing technological improvements[80]. Market and Sales Performance - The company reported a significant increase in new orders, with a year-on-year growth exceeding 35% in 2022[35]. - The proportion of new energy business orders increased by over 20 percentage points compared to the previous year[35]. - The main business revenue for the year reached CNY 1,097,440,160.96, an increase of 13.44% compared to the previous year[59]. - The total cost of the main business was CNY 454,794,478.76, reflecting a 15.70% increase from CNY 393,089,801.90 in the previous year[60]. Environmental and Social Responsibility - The company invested 3.23 million RMB in environmental protection during the reporting period[151]. - The company has established 9 sets of online monitoring devices for real-time monitoring of wastewater discharge, connected to the Guizhou Environmental Protection Information Center[158]. - The company has achieved a total chromium discharge concentration of 0.000007 mg/l, significantly below the permitted limit of 1.0 mg/l[152]. - Total investment in poverty alleviation and rural revitalization projects amounted to CNY 1.1304 million, with CNY 1.1195 million allocated for funding[163]. Corporate Governance - The company held 1 annual general meeting and 4 extraordinary general meetings during the reporting period, ensuring all shareholders enjoy equal rights[100]. - The board of directors convened 10 meetings during the reporting period, fulfilling their responsibilities and ensuring compliance with legal and regulatory requirements[101]. - The supervisory board held 7 meetings, effectively overseeing the legality and compliance of the company's financial activities and management actions[102]. - The company maintained strict adherence to information disclosure regulations, ensuring timely, accurate, and complete information for all shareholders[104]. Future Outlook and Strategic Goals - The company aims for a revenue target of 2.5 billion yuan and a net profit of 156 million yuan for 2023, with a continuous decline in cost expenses ratio and improvement in operating cash flow[91]. - The company plans to complete new order targets of 3.5 billion yuan for the year, with at least 50% coming from new energy business[93]. - The company is committed to dynamic management of its "14th Five-Year" development plan, ensuring strategic goals are effectively implemented and monitored[92]. Shareholder Structure and Changes - The company reported a total of 16,448 ordinary shareholders as of the end of the reporting period, a decrease from 26,857 in the previous month[179]. - The total number of shares held by the board members at the beginning of the year was 18,340, and it remained the same by the end of the year[110]. - The actual controller of the company is China Aviation Industry Group Co., Ltd., which holds 70.11% of the shares[189].