Jangho(SH:601886)2023-03-28 16:00Financial Performance - The company's operating revenue for 2022 was CNY 18,056,403,834, a decrease of 13.15% compared to CNY 20,789,389,103.66 in 2021[23]. - The net profit attributable to shareholders for 2022 was CNY 489,069,415.91, a significant recovery from a loss of CNY 1,007,130,382.85 in 2021[23]. - The basic earnings per share for 2022 was CNY 0.43, compared to a loss of CNY 0.89 per share in 2021[25]. - The total assets at the end of 2022 were CNY 26,931,897,665.21, down 4.43% from CNY 28,178,830,167.26 in 2021[24]. - The cash flow from operating activities for 2022 was a negative CNY 152,645,601.86, a decline of 113.84% from CNY 1,102,962,030.97 in 2021[24]. - The company reported non-recurring gains of CNY 288,406,517.14 in 2022, primarily from the disposal of non-current assets[28]. - The weighted average return on equity for 2022 was 7.73%, a recovery from -13.44% in 2021[25]. - The company achieved quarterly revenues of CNY 5,758,763,469.03 in Q4 2022, marking a significant increase compared to previous quarters[26]. - The net profit attributable to shareholders in Q3 2022 was CNY 243,131,895.62, showing strong performance in that quarter[26]. - The company reported a significant increase in investment income, rising by 345.93% to RMB 324 million[76]. - The company’s operating cash flow net amount decreased by 113.84% to RMB -153 million due to reduced project payments[76]. - The company achieved a total revenue of RMB 18.06 billion, a year-on-year decrease of 13.15%[74]. - The construction decoration segment generated revenue of RMB 17.08 billion, down 13.86% year-on-year[74]. - The healthcare segment reported revenue of RMB 961 million, an increase of 1.85% year-on-year[74]. - The net profit for the company was RMB 547 million, with a net profit attributable to shareholders of RMB 489 million[74]. Dividend Distribution - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares based on a total share capital of 1,133,002,060 shares as of March 28, 2023[6]. - The company distributed a cash dividend of 1 yuan (including tax) for every 10 shares, totaling 113.3 million yuan in cash dividends during the reporting period[42]. - The company maintains a high dividend payout ratio of 66.29%, having distributed approximately 2.267 billion yuan in cash dividends since its listing[42]. - In 2022, the company implemented a cash dividend policy, distributing ¥113.30 million to shareholders, with a dividend of ¥1 per 10 shares[182]. Risk Management - The company faces significant risks including policy risks and market competition risks, which are detailed in the report[8]. - The company emphasizes the importance of risk awareness in its forward-looking statements[7]. - The company has implemented measures to mitigate risks from raw material price fluctuations, but significant increases in material costs could adversely affect profitability[135]. - The investment in the production line for unconventional photovoltaic modules may face risks due to local policies, industry trends, and raw material price fluctuations, potentially impacting operational efficiency[137]. - The healthcare business is significantly influenced by local medical management systems and insurance policies, with ongoing reforms creating uncertainty in policy implementation[138]. - The company is actively exploring business models that align with regional healthcare policies to mitigate policy risks in the medical sector[138]. - The healthcare industry faces inherent medical risks due to individual patient differences and varying levels of medical expertise, which the company aims to manage through strict adherence to international medical control systems[139]. - The expansion of the healthcare business may encounter management risks if the company fails to replicate advanced management practices from overseas effectively[141]. - The company relies heavily on high-quality technical and management talent in the healthcare sector, facing potential talent shortages that could hinder business expansion[142]. - The overseas healthcare business, primarily concentrated in Australia, is subject to economic, political, and cultural risks that could adversely affect operations[143]. Corporate Governance - The company has established a governance structure compliant with relevant laws, ensuring the proper functioning of the shareholders' meeting, board of directors, and supervisory board[145]. - The board of directors consists of nine members, including three independent directors, ensuring a balanced governance approach[148]. - The company maintains transparency in information disclosure, ensuring all shareholders have equal access to information, enhancing operational transparency[153]. - The company emphasizes investor relations management, implementing a system to communicate effectively with investors through various channels[154]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations[154]. - The company has established specialized committees under the board, including audit, nomination, remuneration, and strategy committees[171]. - The internal audit report indicated that the company's internal controls were functioning effectively, with no significant deficiencies identified[173]. Market Expansion and Strategy - The company is focused on expanding its market through new product development and technological advancements[12]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[27]. - The company is actively expanding its architectural decoration business, focusing on high-end projects such as office buildings, hotels, and commercial complexes[49]. - The company has undertaken several landmark projects, including the renovation of the Beijing Workers' Stadium and the Hangzhou Hang Lung Plaza, receiving positive feedback from clients[50]. - The company is accelerating the development of its photovoltaic building integration business, with a new production base for flexible photovoltaic components set to commence operations in 2023[129]. - The company intends to enhance its interior decoration capabilities and expand into high-end markets in Southeast Asia, particularly in Singapore and Malaysia[130]. - The company plans to focus on its core business in the construction decoration sector, with a target of achieving a bidding amount of 26 billion yuan in 2023[130]. - The company aims to expand its domestic and international market share in the curtain wall business, leveraging its leading position and technological advantages[128]. Research and Development - The company received 96 patent authorizations during the reporting period, including 13 invention patents and 83 utility model patents[38]. - Total R&D expenditure amounted to ¥525,104,039.17, representing 2.91% of total revenue[85]. - The company employed 1,621 R&D personnel, accounting for 17.17% of the total workforce[86]. - Research and development expenses increased by 10%, totaling 100 million, to support new technology initiatives[162]. Operational Efficiency - The company has established a comprehensive internal control system, which was audited and received a standard unqualified opinion[188]. - The company continues to enhance its internal management and operational efficiency through a matrix management approach and regular operational meetings[187]. - The company has not invested any funds in environmental protection during the reporting period, indicating no significant environmental obligations[190]. Social Responsibility - Total charitable contributions amounted to CNY 593,000, including CNY 306,000 in cash donations and CNY 287,000 in material donations[193]. - The company invested CNY 226,000 in poverty alleviation and rural revitalization projects, benefiting 350 individuals[193]. - The company has disclosed its 2022 annual social responsibility report on March 29, 2023[192].