Perfect(603059)2023-03-30 16:00Financial Performance - The company's operating revenue for 2022 was RMB 1,049,926,309.11, representing a year-on-year increase of 1.09% compared to RMB 1,038,587,042.22 in 2021[21]. - The net profit attributable to shareholders of the listed company reached RMB 97,308,534.73, marking a significant increase of 30.12% from RMB 74,782,577.41 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 64,836,695.88, which is a substantial increase of 101.90% compared to RMB 32,113,156.98 in 2021[21]. - The net cash flow from operating activities was RMB 150,555,939.16, reflecting a remarkable increase of 163.58% from RMB 57,119,822.51 in the previous year[21]. - Basic earnings per share for 2022 were CNY 0.97, up from CNY 0.75 in 2021, marking a growth of 29.33%[23]. - The diluted earnings per share also stood at CNY 0.97 for 2022, consistent with the basic earnings per share[23]. - The weighted average return on equity increased to 8.67% in 2022, compared to 7.1% in 2021, an increase of 1.57 percentage points[23]. - The company reported a significant increase in the return on equity after excluding non-recurring items, reaching 5.78% in 2022, up from 3.05% in 2021[23]. Assets and Liabilities - As of December 31, 2022, the total assets of the company amounted to RMB 1,586,078,143.77, an increase of 2.91% from RMB 1,541,167,018.23 at the end of 2021[22]. - The net assets attributable to shareholders of the listed company were RMB 1,165,000,581.16, which is a growth of 7.95% compared to RMB 1,079,220,387.42 at the end of 2021[22]. - Total liabilities decreased to CNY 421,077,562.61 in 2022 from CNY 461,946,630.81 in 2021, a reduction of about 8.8%[177]. - Shareholders' equity rose to CNY 1,165,000,581.16 in 2022, compared to CNY 1,079,220,387.42 in 2021, marking an increase of approximately 7.9%[177]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of RMB 0.18 per share, totaling RMB 18,000,000.00 based on 100 million shares, subject to shareholder approval[6]. - The total dividend amount (including tax) was 18,000,000.00, which accounts for 18.50% of the net profit attributable to ordinary shareholders[125]. - The total shares held by the chairman and general manager, Zhang Wensheng, remained unchanged at 6,300,000 shares throughout the reporting period[96]. - The largest shareholder, Zhang Wensheng, holds 63,000,000 shares, representing 63% of the total shares[152]. Market and Industry Insights - In 2021, the market size of China's oral care products industry reached CNY 52.173 billion, with a year-on-year growth of 4.56%[33]. - The oral care products market in China is expected to grow at a CAGR of 6.5%, reaching CNY 64 billion by 2026[36]. - The mouthwash market experienced a compound annual growth rate (CAGR) of 45.69% from 2017 to 2021, reaching a market size of CNY 2.503 billion in 2021[35]. - The electric toothbrush market achieved a CAGR of 27.27% from 2017 to 2021, with a market size of CNY 9.015 billion in 2021[35]. Research and Development - The company has over 200 R&D and technical personnel, with more than 220 patents, indicating strong research and development capabilities[45]. - Research and development expenses rose by 14.53% to CNY 36,287,737.48, indicating a focus on innovation[52]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency[107]. Risk Management - The company has outlined potential risks in its annual report, advising investors to pay attention to these risks[7]. - The company faces risks from fluctuations in raw material prices, particularly those linked to international oil prices[89]. - The company is exposed to market competition risks due to the low entry barriers in the oral care products industry[89]. Corporate Governance - The company has conducted 2 shareholder meetings, 7 board meetings, and 5 supervisory meetings during the reporting period, ensuring compliance with governance standards[92]. - The company maintains a competitive compensation policy to support a stable management team and fulfill its social responsibilities[93]. - The company has established a comprehensive internal control system to enhance decision-making efficiency and ensure compliance with legal regulations[130]. Environmental and Social Responsibility - The company invested 136.62 million yuan in environmental protection during the reporting period[132]. - The company reduced carbon emissions by 3,317 tons through measures such as using clean energy and establishing photovoltaic power stations[134]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% to $187.5 million[99]. - The company plans to develop new products and projects to meet market and customer demands, thereby increasing revenue[87]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust product pipeline[99].