YTG(SH:600881)2023-04-28 16:00Financial Performance - In 2022, the company's operating revenue was approximately CNY 12.97 billion, a decrease of 34.02% compared to CNY 19.65 billion in 2021[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately CNY 3.45 billion, a decline of 175.42% from a loss of CNY 1.25 billion in 2021[21]. - The net cash flow from operating activities improved to a negative CNY 742.20 million, a 9.56% increase compared to a negative CNY 820.61 million in 2021[21]. - The total assets at the end of 2022 were approximately CNY 53.69 billion, down 4.76% from CNY 56.38 billion at the end of 2021[21]. - The net assets attributable to shareholders of the listed company decreased by 26.43% to approximately CNY 9.62 billion from CNY 13.08 billion in 2021[21]. - The basic earnings per share for 2022 was -CNY 1.06, a decrease of 171.79% compared to -CNY 0.39 in 2021[22]. - The weighted average return on equity was -30.43%, a decrease of 21.43 percentage points from -9% in 2021[22]. - The company reported no cash dividend distribution for 2022 due to negative distributable profits[5]. Operational Challenges - The company faced significant challenges due to a 203-day cumulative work stoppage in the construction materials sector, leading to decreased cement production and prices[34]. - The company incurred an asset impairment provision of CNY 1,709,000,000 during the reporting period, including CNY 961,000,000 for credit impairment losses on receivables[34]. - The company reported a decrease in investment income of CNY 453,000,000, a decline of 70% compared to the previous year[34]. - The company faced significant challenges in 2022 due to asset impairment provisions and underperformance in core business operations, leading to a substantial deviation from its revenue targets[108]. Sector Performance - The construction materials sector generated revenue of RMB 5,191,843,241.52, down 15.69% year-on-year, with a gross margin of only 1.06%[46]. - The pharmaceutical sector reported revenue of RMB 2,145,857,618.22, with a gross margin of 44.90%, despite a 10.22% decline in revenue[46]. - The coal industry saw a significant revenue increase of 40.08% to RMB 947,971,344.59, but the gross margin fell by 8.39 percentage points to 7.47%[46]. - The company reported a revenue of 11,787 million RMB from the oncology sector, with a gross margin of 76.82%, reflecting a year-on-year increase of 1.60%[78]. - The company achieved a total of 14,714 million RMB in revenue from the cardiovascular sector, with a gross margin of 82.75%[78]. - The company reported a decrease in revenue from the gynecology sector, with a revenue of 7,470 million RMB, reflecting a year-on-year decline of 22.84%[78]. Strategic Initiatives - The company plans to focus on future development strategies, although specific commitments were not disclosed[6]. - The company is actively pursuing a "second high-quality entrepreneurship" strategy, focusing on construction materials, real estate, pharmaceuticals, and financial investments[37]. - The company aims to enhance its market share by expanding its sales channels, focusing on clinical sales and increasing coverage in chain pharmacies and grassroots medical institutions[85]. - The company aims to enhance cash flow management by focusing on rapid cash recovery, inventory reduction, and optimizing financing channels to lower costs and improve efficiency[110]. - The company plans to strengthen its drug development process by enhancing project management, risk control, and establishing a monitoring mechanism for adverse drug reactions[110]. Investments and Acquisitions - The company acquired a 51.02% stake in Jilin Province Jin'an Construction Group for RMB 13.81 million[51]. - The company also purchased 100% of Jilin Yatai Innovation Construction Engineering Co., Ltd. for RMB 2 million[51]. - The company approved the acquisition of 100% equity of Jilin Yatai Innovative Construction Engineering Co., Ltd. on December 15, 2022[198]. - The company approved the transfer of 49% equity of Jilin Yatai Biopharmaceutical Co., Ltd. on March 28, 2023[200]. Human Resources and Governance - The total number of employees in the parent company is 107, while the main subsidiaries employ 16,960, resulting in a total of 17,067 employees[146]. - The company has a structured salary policy that adjusts compensation based on performance evaluations, ensuring alignment with both company and employee interests[148]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 21.7881 million yuan[133]. - The company has established a comprehensive training system, implementing annual training plans that include onboarding, corporate culture, and skills training[149]. Environmental and Compliance - The company has established a comprehensive internal control system, including various management regulations[158]. - The company has completed environmental impact assessments for all construction projects and obtained the necessary approvals[165]. - The company has installed high-efficiency dust collectors and denitrification devices at cement production sites to mitigate pollution[164]. - The company has committed to not engaging in competitive business with Northeast Securities, ensuring compliance with industry regulations[175]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[168].