SAFETY(SH:603028)2023-04-17 16:00Financial Performance - In 2022, the company's operating revenue was CNY 795,945,625.43, a decrease of 13.06% compared to CNY 915,557,320.35 in 2021[20]. - The net profit attributable to shareholders was a loss of CNY 79,488,373.64, representing a decline of 239.55% from a profit of CNY 56,959,998.76 in the previous year[20]. - The company's revenue for 2022 decreased by 13.06% compared to the previous year, influenced by economic downturns and reduced product orders[22]. - The company's basic earnings per share (EPS) decreased to -0.28 yuan/share in 2022, a decline of 227.27% compared to 0.22 yuan/share in 2021[22]. - The weighted average return on equity (ROE) dropped to -10.72%, a decrease of 18.00 percentage points from 7.28% in 2021[22]. - The net profit attributable to shareholders decreased by 239.55% year-on-year, primarily due to goodwill impairment related to the current market environment and business conditions[23]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 377.61% year-on-year, primarily due to the impact of goodwill impairment[23]. - The company reported a quarterly revenue of 216.30 million yuan in Q4 2022, with a significant drop in net profit to -99.94 million yuan[24]. Cash Flow and Assets - The net cash flow from operating activities increased by 297.07% to CNY 53,743,965.20, compared to CNY 13,535,200.79 in 2021[21]. - The total assets decreased by 7.71% to CNY 1,208,818,517.30 from CNY 1,309,758,709.16 at the end of 2021[21]. - The net assets attributable to shareholders decreased by 15.64% to CNY 683,431,559.46 from CNY 810,118,244.58 at the end of 2021[21]. - The net cash flow from investment activities improved by 62.54%, as there were no significant external investments during the period[50]. - Accounts receivable increased by 9.48% to CNY 200,704,478.04 compared to the previous year[67]. - Inventory rose by 1.20% to CNY 191,318,878.35, reflecting adjustments based on customer orders[67]. Operational Developments - The company established Suzhou Saifutian Investment Management Co., Ltd. to explore strategic investments and enhance its industrial chain[30]. - The company launched Suzhou Saifutian New Energy Technology Co., Ltd. to focus on R&D, production, and sales of P-type and new TOPCon photovoltaic cells[31]. - The company aims to enhance its competitiveness through strategic partnerships and innovation in technology and market alignment[31]. - The company has formed long-term strategic partnerships with major clients in various industries, ensuring stable demand for its products[46]. - The company aims to integrate its two main business segments, urban construction and green energy, to provide comprehensive solutions from design to material supply in the photovoltaic sector[47]. Research and Development - The company holds 184 patents, including 44 invention patents, demonstrating its strong R&D capabilities and commitment to innovation[43]. - Research and development expenses decreased by 4.73% to ¥27,660,118.11, reflecting a strategic adjustment in R&D resource allocation[50]. - The number of R&D personnel is 134, accounting for 16.13% of the total workforce[63]. - The company emphasizes the importance of R&D and plans to enhance its technological capabilities through strategic collaborations and talent development[90]. Governance and Compliance - The company adheres to strict corporate governance practices, ensuring compliance with relevant laws and regulations in its operations[96]. - The company has implemented measures to enhance governance and internal control mechanisms, aligning with regulatory requirements[98]. - The company has not faced any significant governance discrepancies with regulatory standards, maintaining compliance[98]. - The company continues to focus on enhancing operational independence from its controlling shareholders[98]. - The company has established a governance structure that allows for independent operation of its board and management, ensuring compliance with legal and regulatory requirements[146]. Market Outlook and Strategy - The company expects strong support for demand in urban construction from major infrastructure projects and policy adjustments in real estate development[34]. - The company is actively pursuing the development of new TOPCon battery technology to capture market share and enhance production capacity in the photovoltaic sector[89]. - The photovoltaic industry is expected to see a shift towards N-type battery technology, with N-type batteries projected to increase their market share significantly from 9.1% in 2022[85]. - The company is committed to enhancing its market presence through refined management and customer relationship development, aiming to increase market share and competitiveness[89]. Environmental and Social Responsibility - The company invested ¥15 million to establish a joint venture, Changsha Lvyin Technology Research Institute Co., Ltd., with several partners[72]. - The company invested 2.6139 million yuan in environmental protection during the reporting period[136]. - The company reduced carbon emissions by 2,084 tons through the implementation of solar power generation facilities[139]. - The company has established a mechanism for environmental protection and complies with national and local environmental standards[137]. Shareholder and Financial Management - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends when profitable[127]. - A cash dividend of RMB 0.6 per 10 shares was proposed, totaling RMB 17,222,400, which represents 30.24% of the net profit attributable to shareholders[128]. - The company repurchased a total of 3,789,600 shares, accounting for 1.32% of the total share capital[174]. - The controlling shareholder, Suzhou Wuzhong Rongtai Holding Co., Ltd., holds 28.91% of the company's shares[177]. Audit and Financial Reporting - The audit report issued by Zhongxinghua Certified Public Accountants was a standard unqualified opinion[4]. - The audit identified revenue recognition as a key audit matter due to its significant impact on financial results and the substantial change in revenue[190]. - The audit procedures included evaluating the reasonableness of management's assumptions in the goodwill impairment testing process[194]. - The audit did not identify any significant misstatements in the other information included in the annual report[196].