JLEC(SH:601518)2023-04-14 16:00Financial Performance - The company's operating revenue for 2022 was CNY 1,459,140,786.21, representing a 14.71% increase compared to CNY 1,272,016,930.56 in 2021[23] - The net profit attributable to shareholders for 2022 was CNY 393,637,825.25, which is a 23.62% increase from CNY 318,435,546.63 in 2021[23] - The net profit after deducting non-recurring gains and losses was CNY 393,192,987.49, up 25.07% from CNY 314,366,830.49 in the previous year[23] - Basic and diluted earnings per share for 2022 were CNY 0.29, an increase of 20.83% from CNY 0.24 in 2021[24] - The company achieved a total revenue of 1.459 billion RMB in 2022, representing a year-on-year increase of 14.71%[30] - Net profit attributable to shareholders reached 394 million RMB, up 23.62% compared to the previous year[30] - The weighted average return on equity rose to 9.18%, an increase of 1.05 percentage points from the previous year[30] - The toll revenue increased to CNY 110,559,000, a growth of 2.24% from CNY 108,133,000, primarily due to traffic flow increase and government policies[45] Cash Flow and Assets - The net cash flow from operating activities decreased by 18.02% to CNY 643,618,310.12 from CNY 785,068,322.30 in 2021[23] - The total assets at the end of 2022 were CNY 6,031,527,498.81, a decrease of 9.24% from CNY 6,645,888,737.79 at the end of 2021[23] - The net assets attributable to shareholders increased by 8.79% to CNY 4,471,162,180.85 from CNY 4,109,933,833.88 in 2021[23] - Total assets decreased from CNY 6,645,888,737.79 in 2021 to CNY 6,031,527,498.81 in 2022, a decline of approximately 9.2%[195] - Current assets decreased from CNY 1,511,059,177.23 in 2021 to CNY 1,196,669,951.28 in 2022, representing a reduction of about 20.8%[194] - Cash and cash equivalents decreased from CNY 1,155,027,083.66 in 2021 to CNY 932,988,282.67 in 2022, a decrease of approximately 19.3%[194] - Accounts receivable increased from CNY 106,506,929.65 in 2021 to CNY 174,087,550.84 in 2022, an increase of about 63.5%[194] - Inventory decreased significantly from CNY 222,006,405.77 in 2021 to CNY 64,799,149.86 in 2022, a decline of approximately 70.8%[194] Operational Efficiency - The company saved a total of CNY 49.87 million in interest expenses through effective capital operations, including early repayment of loans totaling CNY 750 million[32] - The company implemented cost-saving measures, resulting in a 19.85% reduction in management expenses to CNY 69,611,080.88 from CNY 86,850,831.53[44] - Financial expenses decreased significantly by 53.99% to CNY 30,599,659.83 from CNY 66,503,331.59 due to early repayment of loans[44] - The gross profit margin for highway toll business increased by 3.47 percentage points, while the electromechanical engineering business saw a decrease of 0.77 percentage points[48] - The total R&D expenditure accounted for 0.55% of the operating revenue, indicating a focus on innovation despite overall revenue growth[53] Strategic Initiatives - The company plans to enhance management and service through technology, aiming to leverage digitalization and smart infrastructure to counter economic pressures[71] - The company is adjusting its development strategy to align with the overall growth of the highway industry in Jilin Province, focusing on high-quality development goals by 2025[68] - The company is committed to diversifying its operations to mitigate risks associated with reliance on a single industry, aiming for a multi-faceted development strategy[73] - The company is focused on highway development, management, and maintenance, with a diverse range of business activities including logistics and infrastructure services[161] Governance and Compliance - The company held 4 shareholder meetings during the reporting period, ensuring compliance with legal regulations and protecting the rights of minority shareholders[76] - The board of directors convened 9 meetings, with the audit committee meeting 5 times, ensuring effective governance and oversight[77] - The supervisory board held 5 meetings, fulfilling its supervisory responsibilities and safeguarding the interests of all shareholders[78] - The company emphasizes effective communication with investors, enhancing their understanding of the company through performance briefings[78] - The company has not faced any penalties from securities regulatory agencies in the past three years[94] Shareholder Information - The total number of ordinary shareholders increased from 44,520 to 46,532 by the end of the reporting period[157] - The largest shareholder, Jilin Provincial Highway Group Co., Ltd., holds 733,998,728 shares, accounting for 54.35% of the total shares[159] - The second-largest shareholder, China Merchants Highway Network Technology Holdings Co., Ltd., holds 189,662,887 shares, representing 14.04%[159] - The total number of shares held by the top ten shareholders includes significant stakes from various institutional investors, with the largest being state-owned entities[160] Legal Matters - The company has not faced any major litigation or arbitration matters during the reporting period[130] - The subsidiary Jilin Donggao Technology Oil Co., Ltd. has filed a lawsuit against Dalian Bonded Zone Landa International Trade Co., Ltd. for not receiving a VAT invoice, claiming an amount of CNY 38.561 million[133] - The court ruled that if the defendant fails to provide the VAT invoice, they must pay the corresponding tax amount to the plaintiff[133] - The subsidiary is currently undergoing bankruptcy liquidation procedures, and the related progress is detailed in the report[134] Environmental and Social Responsibility - The company invested CNY 5.489 million in environmental protection during the reporting period[120] - The company continues to enhance its greening efforts, including tree replanting and flower planting, to improve the environment for public transportation[121] - The company published its 2022 Social Responsibility Report on April 15, 2023, in compliance with national laws and regulations[122]