VITI(SH:603023)2023-04-27 16:00Financial Performance - The company's total revenue for 2022 was ¥74,170,420.07, representing a 4.47% increase compared to ¥70,996,892.98 in 2021[24]. - The net profit attributable to shareholders for 2022 was ¥4,405,947.03, a decrease of 34.15% from ¥6,691,058.84 in 2021[24]. - The net profit after deducting non-recurring gains and losses was ¥3,248,223.21, down 46.17% from ¥6,034,207.80 in 2021[24]. - The basic earnings per share for 2022 were ¥0.008, down 33.33% from ¥0.012 in 2021[25]. - The weighted average return on net assets for 2022 was 0.58%, a decrease of 0.30 percentage points from 0.88% in 2021[25]. - The company achieved operating revenue of 74.17 million RMB in 2022, an increase of 4.47% year-on-year[35]. - The net profit attributable to shareholders decreased by 34.15% year-on-year, amounting to 4.41 million RMB, primarily due to high initial expenses from newly established subsidiaries[35]. - The company reported a net profit of 2.61 million RMB in Q4, showing a recovery from a loss of 1.16 million RMB in Q2[28]. - The company reported a significant reliance on its top five customers, accounting for 67.21% of total sales[55]. - The company reported a net profit margin of 242.25, indicating strong profitability despite the revenue decline[103]. Cash Flow and Liquidity - The net cash flow from operating activities for 2022 was -¥12,403,636.86, compared to ¥42,469,939.22 in 2021, indicating a significant decline[24]. - The company’s cash flow issues were exacerbated by the initial expenses of newly established subsidiaries, impacting overall financial performance[35]. - Operating cash inflow decreased by 18.30% to ¥84,736,830.99 from ¥103,722,842.43[59]. - Operating cash outflow increased by 58.59% to ¥97,140,467.85 from ¥61,252,903.21[59]. - The net cash flow from investing activities worsened by 144.57% to -¥31,950,212.56 from -¥13,063,950.27[59]. - Total cash and cash equivalents at the end of the period decreased by 10.11% to ¥431,436,612.98 from ¥479,942,270.77[59]. - The cash and cash equivalents decreased from RMB 479,942,270.77 in 2021 to RMB 431,436,612.98 in 2022, reflecting a decline of approximately 10.1%[186]. Assets and Liabilities - The total assets at the end of 2022 were ¥808,832,167.95, a 2.63% increase from ¥788,068,092.09 at the end of 2021[24]. - The total liabilities increased by 79.90% to ¥44,908,724.52, resulting in an asset-liability ratio of 5.55%[43]. - Accounts receivable increased by 213.19% to ¥15,246,750.60 from ¥4,868,181.89[62]. - The total current assets decreased from RMB 651,086,307.40 in 2021 to RMB 628,040,920.75 in 2022, a decline of approximately 3.5%[186]. - Total liabilities rose to ¥44,908,724.52 in 2022, up from ¥24,963,430.20 in 2021, indicating a significant increase of approximately 80%[188]. Research and Development - Research and development expenses accounted for 19.23% of total expenses, with an increase of 11.18% compared to the previous year, reflecting the company's commitment to innovation[38]. - Total R&D expenses amounted to ¥14,260,147.78, representing 19.23% of total revenue[56]. - The company plans to enhance its product competitiveness by increasing R&D investment in new products such as full LCD instruments and intelligent driving cockpit systems[84]. Market and Sales Performance - The company faced a 5.15% decline in sales of buses over 6 meters, while sales of new energy buses increased by 21.91%[35]. - In 2022, the cumulative sales of buses over 6 meters reached 92,200 units, a year-on-year decrease of 5.15%[80]. - Cumulative sales of new energy buses over 6 meters reached 61,500 units, a year-on-year increase of 21.91%, capturing 66.7% of the large and medium-sized bus market share in 2022[80]. - Revenue from the computer communication and other electronic equipment sector reached ¥73,665,754.21, with a year-on-year increase of 5.38%[50]. Corporate Governance and Compliance - The company maintains independence in personnel, finance, and operations from its controlling shareholders, ensuring no interference in management decisions[96]. - The company has established independent financial departments and accounting systems, with separate bank accounts and tax obligations[96]. - The company emphasizes the importance of corporate governance and compliance with information disclosure obligations, enhancing transparency[136]. - The company has not reported any significant internal control deficiencies during the reporting period[128]. Future Outlook and Strategy - The company plans to acquire 100% equity of Shanghai Feier Automotive Parts Co., Ltd. through a combination of issuing shares, convertible bonds, and cash payments[70]. - The company aims to expand its truck business to create new growth points and has already established bulk supply capabilities[83]. - The company recognizes the importance of maintaining product quality and technological innovation to respond to market pressures and enhance competitiveness[82]. - Future guidance indicates a cautious optimism, with expectations of gradual recovery in revenue and profitability[103]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 273, with 113 technical personnel and 88 production personnel[119]. - The company has implemented a training program focusing on professional skills, general skills, certification courses, and new employee training to enhance employee performance and adaptability[122]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 2.4225 million yuan[111]. Risks and Challenges - The company faces risks related to changes in industry policies, financial risks, and intensified market competition as the automotive electronics sector evolves[88]. - The company faces risks of declining net profit due to rising raw material prices, particularly in the semiconductor sector, amid increased demand in the electronics field[89]. - The implementation of the fundraising project "Weidi Cloud Bus Internet of Vehicles Service Platform" is uncertain due to market conditions and other unforeseen factors, which may affect expected economic benefits[89].