SD(SH:600626)2023-04-27 16:00Financial Performance - The company's net profit for 2022 was -431,008,926.69 CNY, resulting in a distributable profit of -79,617,746.96 CNY after accounting for retained earnings[5]. - The company will not distribute profits or increase capital reserves for the year 2022, as approved by the board[5]. - The company's operating revenue for 2022 was ¥11,244,031,948.59, representing a 6.57% increase compared to ¥10,550,411,186.42 in 2021[23]. - The net profit attributable to shareholders of the listed company was -¥190,654,427.58 in 2022, a decrease of 638.52% from a profit of ¥35,403,385.23 in 2021[23]. - The net cash flow from operating activities increased by 174.53% to ¥343,698,928.06 in 2022, compared to ¥125,193,186.17 in 2021[23]. - The total assets at the end of 2022 were ¥10,372,028,703.92, up 7.23% from ¥9,672,349,598.26 at the end of 2021[23]. - The basic earnings per share for 2022 was -¥0.1721, a decrease of 566.40% from ¥0.0369 in 2021[24]. - The weighted average return on equity for 2022 was -5.98%, a decrease of 7.25 percentage points from 1.27% in 2021[24]. - The company reported a net profit of -¥69,768,229.19 in Q1 2022, -¥86,879,649.18 in Q2, a profit of ¥13,716,469.97 in Q3, and -¥47,723,019.18 in Q4[25]. - The company achieved operating revenue of 11.24 billion yuan in 2022, an increase of 6.57% compared to 2021[31]. - The net profit attributable to shareholders was a loss of 190.65 million yuan, a decrease of 638.52% year-on-year[31]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[4]. - The company has not violated decision-making procedures for external guarantees[7]. - The company has not disclosed any significant changes in its board composition that would affect the authenticity of the annual report[8]. - The company has not reported any significant operational or financial irregularities during the year[8]. - The company has established independent financial and operational systems to ensure autonomy from its controlling shareholder, maintaining a complete business structure[120]. - The company maintains an effective corporate governance structure with independent boards and management, free from interference by controlling shareholders[124]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[143]. Business Operations and Strategy - The company operates in multiple sectors, including automotive interior and acoustic components, textile new materials, and import-export trade[45]. - The automotive interior business generated revenue of 7.55 billion yuan, up 6.62% year-on-year, but incurred a total loss of 246.39 million yuan[35]. - The textile new materials segment reported revenue of 1.17 billion yuan, a decline of 21.74% year-on-year, but turned a profit of 1.88 million yuan[35]. - The import and export trade business achieved revenue of 3.68 billion yuan, an increase of 9.78% year-on-year, with a profit of 30.05 million yuan, up 392.17%[37]. - The company secured new orders worth approximately 360 million yuan in the domestic automotive interior sector and 113 million USD in the Auria segment, with over 60% from new energy vehicles[33]. - The company is enhancing its global procurement strategy and international cooperation to mitigate external pressures and improve operational efficiency[33]. - The company has established a procurement management system to scientifically manage various stages of the procurement process, aiming to reduce costs and control quality[48]. - The automotive interior business operates on a "sales-driven production" model, closely linking sales processes with product development and production[48]. - The textile new materials segment focuses on developing flexible composite materials and geosynthetics, with applications in construction, transportation, and environmental sectors[49]. - The company has formed long-term stable relationships with key suppliers, allowing for flexible procurement based on actual production needs[50]. Market Trends and Risks - The global automotive production reached approximately 85.02 million units in 2022, a 6% increase from 2021, while total sales slightly decreased by 1.4% to about 81.63 million units[39]. - The global sales of new energy vehicles surged to 10.65 million units in 2022, marking a 63.6% increase, with a penetration rate of 14%[41]. - The company faces risks from macroeconomic uncertainties, including the impact of the Russia-Ukraine conflict on international energy and financial policies[109]. - The automotive industry dependency poses risks, as production limitations due to chip shortages and energy price fluctuations affect profitability[109]. - Raw material price volatility is a significant risk, as direct material costs constitute a large portion of production costs, influenced by international commodity price fluctuations[110]. - Currency exchange rate fluctuations pose risks to the company's financial operations, given that nearly one-third of its revenue comes from foreign currency transactions[111]. Environmental and Social Responsibility - The company invested 1.2822 million yuan in environmental protection during the reporting period[168]. - The company has established an environmental management system to continuously improve its environmental protection mechanisms[174]. - The company reported a total wastewater discharge of 20,097 cubic meters, adhering to the urban sewage discharge standards[181]. - The company has implemented a clean production plan with 10 measures approved in October 2022[173]. - The company has established an emergency response plan for environmental pollution incidents to enhance crisis management capabilities[185]. - The company made a total donation of 216,000 yuan to charitable organizations during the reporting period[195]. - The company participated in the Shanghai Employee Protection Mutual Aid Plan with 813 employees and provided insurance for 733 employees[196]. - The company invested 130,000 yuan in poverty alleviation and rural revitalization projects, benefiting 749 individuals[198]. Governance and Management - The total pre-tax compensation for all directors and senior management amounted to ¥562.84 million, with no changes in shareholding for the reporting period[133]. - The company has a total of 11 supervisors, with the recent changes affecting the composition of the supervisory board[138]. - The company has been actively managing its supervisory board to comply with legal requirements following resignations[139]. - The company has maintained a consistent leadership structure despite recent changes in supervisory roles[140]. - The decision-making process for remuneration involves the compensation and assessment committee under the board of directors, which is then approved by the board and shareholders[141]. - The company held multiple board meetings to discuss key issues, including the 2021 annual financial report and the 2022 financial budget[143]. - The company is engaged in risk assessment and management related to its financial operations with Oriental International Group[143]. Future Projections - For 2023, the company projects revenue of CNY 1,050,000 million and expects a total profit of CNY 1,000 million, with a net profit attributable to the parent company projected at a loss of CNY 2,550 million[108]. - The company aims to strengthen its market position by expanding into high-end brands like Mercedes-Benz and BMW, while also increasing its share in the new energy vehicle market[102]. - The company plans to enhance its global procurement capabilities by leveraging its scale advantages and optimizing its global supply chain[104]. - The focus on technological innovation will include the development of new products and materials, with an emphasis on sustainability and automation[105].