Carthane(SH:603037)2023-04-24 16:00Financial Performance - The company reported an undistributed profit of RMB 78,046,634.84 as of December 31, 2022[6]. - The company's operating revenue for 2022 was CNY 642,019,307.92, representing a 17.07% increase compared to CNY 548,400,898.67 in 2021[26]. - The net profit attributable to shareholders for 2022 was CNY 78,046,634.84, a decrease of 7.33% from CNY 84,217,736.13 in 2021[26]. - The net cash flow from operating activities decreased by 43.01% to CNY 67,872,429.48 in 2022 from CNY 119,097,110.98 in 2021[27]. - The total assets at the end of 2022 were CNY 1,100,364,298.97, an increase of 6.37% from CNY 1,034,454,589.62 at the end of 2021[27]. - Basic earnings per share for 2022 were CNY 0.75, down 6.25% from CNY 0.80 in 2021[28]. - The weighted average return on equity for 2022 was 8.88%, a decrease of 0.64 percentage points from 9.52% in 2021[28]. - The company reported a net profit of CNY 26,363,461.83 in Q4 2022, which was the highest quarterly profit for the year[30]. - The net profit after deducting non-recurring gains and losses for 2022 was CNY 63,262,340.95, a decrease of 20.47% from CNY 79,549,727.01 in 2021[27]. - The total net assets attributable to shareholders at the end of 2022 were CNY 863,138,644.97, a decrease of 3.04% from CNY 890,204,271.56 at the end of 2021[27]. Shareholder Returns - A cash dividend of RMB 6 per 10 shares (including tax) and a capital reserve increase of 3 shares for every 10 shares is proposed for distribution[6]. - The total cash dividend amount for 2021 is 62,682,798 RMB, which represents 80.31% of the net profit attributable to ordinary shareholders in the consolidated financial statements[164]. - The total dividend amount, including cash and stock, is 106,888,899.62 RMB, accounting for 136.96% of the net profit attributable to ordinary shareholders[164]. - The expected cash dividend for 2022 is 62.68 million yuan (including a repurchase amount of 106.89 million yuan), representing 80.31% of the net profit attributable to ordinary shareholders[183]. Market and Product Development - The company secured new projects valued at approximately 380 million yuan in 2022, meeting its annual budget target, and generated 120 million yuan in revenue from new products[38]. - The company sold approximately 10 million units of shock-absorbing components for new energy vehicles, capturing about 38% of the new energy passenger vehicle market[43]. - The company sold around 733,000 units of lightweight pedal assemblies for new energy vehicles, accounting for approximately 11% of the new energy passenger vehicle market[44]. - The company’s polyurethane shock-absorbing components have been recognized for their excellent performance, particularly in new energy vehicle applications, expanding their usage to electric motor mounts and battery pack housings[43]. - The company has made significant progress in product development, with new products achieving mass production and receiving positive feedback from major clients such as NIO and Xpeng[39]. Research and Development - The company continues to invest in R&D for new materials, which will help control product costs amid fluctuating raw material prices, enhancing its competitive edge[40]. - In 2022, the company applied for 29 patents, bringing the total number of patent applications to 178, with 131 patents granted, including 24 invention patents related to material technology[63]. - The company’s R&D on suspension systems is progressing as planned, with 1/4 test bench equipment now in use, improving its systematic R&D capabilities[62]. - The company plans to increase investment in automotive big data product development in 2023 to better empower clients in software-defined vehicles[63]. - R&D expenses totaled ¥59.05 million, accounting for 9.20% of total revenue, indicating a strong commitment to innovation[81]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Zhonghua Accounting Firm[5]. - The board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[7]. - The company has established a strict procurement process and supplier evaluation system to enhance operational efficiency and market competitiveness[53]. - The company has maintained compliance with environmental regulations, undergoing audits for IATF16949, ISO14001, and ISO45001 management systems[185]. Strategic Partnerships and Market Expansion - The company has established strong strategic partnerships with major domestic automakers, including SAIC Volkswagen and BYD, and is also a supplier to international brands like Porsche and Audi[47]. - The company is actively expanding its international business, collaborating with renowned global automotive companies such as Porsche and Audi[64]. - The company plans to invest 1 million USD in establishing a wholly-owned subsidiary and production base in Mexico, with the initial investment phase underway[103]. - The company aims to achieve the number one market share in the domestic market for buffer blocks and double its international market share within five years[115]. - The company plans for new business revenue to account for 20% within five years and 50% within ten years, focusing on areas such as active suspension systems and intelligent driving systems[116]. Employee and Management Changes - The company appointed Gu Weiwei as the new CFO effective December 30, 2022, following the resignation of the previous CFO Huang Hai[138]. - Li Jicheng was appointed as the Vice General Manager in charge of sales on March 23, 2023[137]. - The company completed the board and supervisory committee restructuring in August 2022, with several key personnel changes[138]. - The company has a focus on enhancing its research and development capabilities, with Zhang Zhongqiu as the Executive Deputy General Manager overseeing operations[138]. - The total remuneration for directors, supervisors, and senior management amounted to 7.698 million yuan[142]. Environmental and Social Responsibility - The company invested 55.7 million RMB in environmental protection during the reporting period[172]. - The company received an administrative penalty of 230,000 RMB for exceeding wastewater discharge standards by more than 100% but has since rectified the issue[173]. - The company implemented measures to reduce carbon emissions, achieving a reduction of 538 tons of CO2 equivalent through the use of photovoltaic power generation[177]. - The company established a new wastewater treatment system that meets the Shanghai municipal discharge standards[176]. - The company has developed and implemented various environmental protection policies to manage waste and emissions effectively[175]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, including sensitivity to economic cycles and potential impacts from US-China trade tensions[119]. - The company is exposed to exchange rate fluctuations that may affect product sales and procurement costs[120]. - The company is at risk from raw material price volatility, which could impact gross margins and overall financial performance[122]. - The company has not faced any penalties from securities regulatory agencies in the past three years[144]. - The company has not faced any delisting risks during the reporting period[196].