Jihua Group(SH:601718)2023-04-12 16:00Financial Performance - The company achieved a net profit of RMB 242,627,843.27 for the year 2022, with a distributable profit of RMB 223,997,024.48 after accounting for statutory reserves and retained earnings [10]. - Total revenue for 2022 was approximately ¥15.44 billion, a decrease of 0.38% compared to ¥15.49 billion in 2021 [49]. - Net profit attributable to shareholders was approximately ¥221.63 million, a significant recovery from a loss of ¥165.61 million in 2021 [49]. - The company reported a net cash flow from operating activities of approximately -¥312.10 million, a decline of 127.09% compared to ¥1.15 billion in 2021 [49]. - Basic earnings per share for 2022 was ¥0.05, compared to a loss of ¥0.04 per share in 2021 [50]. - The weighted average return on equity increased to 1.31%, up by 2.28 percentage points from -0.97% in 2021 [50]. - The company reported a net profit of RMB 2.22 billion for 2022, recovering from a loss of RMB 1.66 billion in the previous year [85]. - The company achieved a total revenue of RMB 15.22 billion, an increase of 11.48% year-on-year, with a notable growth in overseas revenue by 17.64% to RMB 1.40 billion [74]. Dividend and Profit Distribution - A cash dividend of RMB 0.30 per share (including tax) is proposed, totaling RMB 131,748,882.12, based on a total share capital of 4,391,629,404 shares [24]. - The company plans to retain RMB 92,248,142.36 of undistributed profits for future distribution [24]. - The total profit distribution plan complies with national regulations regarding state-owned capital revenue submission ratios [24]. Audit and Compliance - The audit report for 2022 was issued by Dahua Certified Public Accountants with a standard unqualified opinion [23]. - The company’s financial report is guaranteed to be true, accurate, and complete by its management team [8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [25]. - The company has not provided guarantees for controlling shareholders or their affiliates during the reporting period, ensuring financial independence [169]. Research and Development - Research and development expenses increased by 6.50% to approximately ¥408.74 million, compared to ¥383.81 million in the previous year [68]. - The company has enhanced its research and development capabilities, supported by multiple national and provincial-level research centers [84]. - The company is focusing on the development of functional textile materials, including ceramic bulletproof materials and high-performance fibers [133]. - The company is focused on innovation by strengthening its research and development capabilities and fostering an environment that encourages original innovation [138]. Market and Operational Strategy - The company aims to further expand its market presence and enhance operational quality through its "443" industrial layout strategy [85]. - The company is committed to maintaining its core supplier position in the military and police uniform market while expanding its market presence in workwear and textile dyeing sectors [138]. - The company plans to expand its overseas market and e-commerce business while developing high-end customization as part of its new business strategy [137]. - The company emphasizes the importance of digitalization and intelligent management to improve market responsiveness and transform its business model [138]. Shareholder and Governance - The board of directors consists of nine members, including three independent directors, meeting legal requirements for composition [169]. - The company has established specialized committees under the board, including strategy, nomination, audit and risk management, and compensation and assessment committees [169]. - The company has a clear remuneration decision-making process for directors and senior management, based on performance assessments and annual operational targets [180]. - The company held seven board meetings during the year, with all directors attending most meetings in person, reflecting strong governance practices [186]. Financial Position - Total assets at the end of 2022 were approximately ¥27.67 billion, a decrease of 2.22% from ¥28.30 billion at the end of 2021 [49]. - The company’s net assets attributable to shareholders increased by 0.69% to approximately ¥17.03 billion from ¥16.91 billion in 2021 [49]. - The company’s total liabilities included accounts payable of ¥3,914,548,740.43, which rose by 37.05% year-on-year, reflecting increased order intake [103]. - The company’s total assets included other receivables of ¥1,514,516,802.85, which accounted for 5.47% of total assets, down 52.51% from the previous year [103]. Employee Development - The company conducted training programs for over 11,738 employees to enhance their skills and management capabilities during the reporting period [197]. - The company plans to hold specialized training sessions in 2023 focusing on legal risk prevention, lean management, and integrated financial management [198].