Tuopu Group(SH:601689)2023-04-17 16:00Financial Performance - The company achieved a net profit of RMB 876,754,393.61 for the year 2022, with a distributable profit of RMB 789,078,954.25 after statutory surplus reserve allocation[6]. - The company’s total distributable profit at the end of 2022 was RMB 3,812,658,276.18 after accounting for previous undistributed profits and cash dividends paid[6]. - The company's operating revenue for 2022 reached ¥15,992,821,677.50, representing a 39.52% increase compared to ¥11,462,693,679.86 in 2021[26]. - The net profit attributable to shareholders for 2022 was ¥1,700,131,795.33, a 67.13% increase from ¥1,017,253,691.77 in 2021[26]. - The net cash flow from operating activities for 2022 was ¥2,284,020,088.40, up 92.45% from ¥1,186,819,193.35 in 2021[26]. - The total assets at the end of 2022 amounted to ¥27,510,130,823.47, a 47.25% increase from ¥18,682,692,767.26 at the end of 2021[26]. - The basic earnings per share for 2022 was ¥1.54, reflecting a 65.59% increase from ¥0.93 in 2021[27]. - The weighted average return on equity for 2022 was 15.02%, an increase of 4.67 percentage points from 10.35% in 2021[27]. - The total profit reached CNY 1.960 billion, up 70.98% compared to the previous year[66]. - Net profit attributable to shareholders was CNY 1.700 billion, reflecting a 67.13% increase year-on-year[66]. - The net cash flow from operating activities was CNY 2.284 billion, a significant increase of 92.45%[68]. Dividend Distribution - The proposed cash dividend distribution is RMB 4.63 per 10 shares, totaling RMB 510,247,562.84 (including tax) based on 1,102,046,572 shares as of December 31, 2022[6]. - The company has established a cash dividend policy for 2021-2023, focusing on sustainable development and ensuring reasonable returns to investors[148]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends when conditions allow[149]. - The cash dividend distribution accounted for 30.01% of the net profit attributable to ordinary shareholders in the consolidated financial statements[160]. - The company must ensure that cash dividends are at least 30% of the distributable profits if no significant cash expenditures occur[152]. Investment and Financing - The company issued RMB 250 million convertible bonds in July 2022, raising a net amount of RMB 2,488,972,641.53 after deducting issuance costs[11]. - The company completed a convertible bond issuance raising 2.5 billion RMB and initiated a 4 billion RMB refinancing plan to enhance financial strength and support rapid project development[45]. - The company is in the process of a non-public stock issuance, with the application accepted by the China Securities Regulatory Commission in February 2023[13]. - The company plans to invest approximately RMB 25 billion in phases to build a new energy vehicle core component production base in Shouxian, Anhui[96]. - The company has signed an agreement to invest around RMB 30 billion in Xi'an for a new energy vehicle component production project, covering approximately 120 acres[96]. Research and Development - R&D investment has been increased, resulting in the development of eight major product series, with an average per-vehicle component amount of approximately 30,000 RMB, laying the foundation for a billion-level enterprise[38]. - The company has established a global R&D network with centers in North America, Europe, and China, employing over 3,000 researchers, including nearly 200 with master's or doctoral degrees[54]. - The company maintains an average annual R&D investment of approximately 5% of its revenue, enhancing its competitive edge in research and innovation[54]. - The company is committed to addressing "bottleneck" technology challenges in the industry through continuous innovation and R&D efforts[104]. - The total R&D expenditure reached ¥750,718,588.09, accounting for 4.69% of total revenue[80]. Market Expansion and Production Capacity - The company plans to continue its market expansion and product development strategies, although specific future projections were not disclosed[8]. - The company is expanding production capacity with new factories in Hangzhou Bay and Chongqing, despite short-term cost pressures, to meet the growing demand in the new energy vehicle market[40]. - The company is advancing its digital factory initiatives, utilizing MES management systems to enhance quality control and production efficiency[42]. - The company aims to accelerate international market expansion, particularly in North America and Europe, where electric vehicle penetration is currently low[108]. - The company has increased its investment in Mexico, with a planned 220-acre factory expected to begin equipment installation by the end of the year[110]. Environmental Responsibility - The company invested 10,487,000 RMB in environmental protection during the reporting period[166]. - The company achieved a photovoltaic installed capacity of 33.8 MW in 2022, generating approximately 34.55 million kWh of electricity, which reduced carbon dioxide emissions by 34,453 tons[186]. - The company is committed to green low-carbon production and aims to contribute to carbon peak and carbon neutrality goals[185]. - The company has established hazardous waste management protocols in accordance with national regulations, ensuring proper disposal and tracking[171]. - The company’s wastewater treatment system ensures that all production wastewater meets municipal discharge standards before entering the municipal sewage system[171]. Corporate Governance - The company held four shareholder meetings during the reporting period, all conducted in compliance with legal and regulatory requirements[124]. - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, to enhance governance[137]. - The company held 12 board meetings in 2022, with all directors attending each meeting in person[136]. - The total pre-tax remuneration for directors and senior management during the reporting period amounted to CNY 1,824.68 million[126]. - The company has committed to maintaining a robust risk management system to address potential risks from currency fluctuations, tariffs, and raw material price volatility[113]. Risk Management and Compliance - The company has described significant risks that may adversely affect future development and operational goals in its report[10]. - The company is committed to ensuring no competition with its subsidiaries and will compensate for any economic losses caused by violations of this commitment[197]. - The company will strictly adhere to national laws and regulations regarding related party transactions, ensuring fairness and transparency in pricing[190]. - The company has committed to repurchasing shares if any false statements or omissions are identified in the prospectus, with a repurchase price based on the higher of the issuance price or the average trading price over the last 30 trading days[191]. - The company has not reported any significant losses from contracts during the reporting period[198].