Yuejian Intelligent(SH:603095)2023-06-21 16:00Financial Performance - The company achieved operating revenue of CNY 1,264,459,316.98 in 2022, a decrease of 18.43% compared to 2021 [23]. - Net profit attributable to shareholders reached CNY 450,102,705.49, representing a year-on-year increase of 38.95% [25]. - The basic earnings per share increased to CNY 3.41, up 39.18% from CNY 2.45 in 2021 [25]. - The net cash flow from operating activities was negative at CNY -17,680,080.63, primarily due to decreased sales revenue and increased cash payments [24]. - Total assets decreased by 4.27% to CNY 3,209,988,891.68 compared to the end of 2021 [24]. - The company's net assets attributable to shareholders increased by 14.09% to CNY 2,549,321,948.97 [24]. - Non-recurring gains and losses amounted to CNY 275,482,853.75, significantly higher than CNY 118,624,614.74 in 2021 [30]. - The company completed asset disposal related to land demolition, contributing to the increase in net profit [25]. - The company achieved total revenue of CNY 1,264.46 million, a year-on-year decrease of 18.43% due to reduced downstream market demand and a decline in industry prosperity [45]. - The net profit attributable to shareholders increased by 38.95% to CNY 450.10 million, indicating strong profitability despite revenue decline [45]. Dividend and Capital Management - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares, totaling RMB 66 million, which represents 14.66% of the net profit attributable to shareholders for the year [6]. - The company intends to increase its total share capital by 52.8 million shares through a capital reserve transfer, raising the total share capital to 184.8 million shares [6]. - The company has no plans for other forms of profit distribution this year [6]. - The company’s cash dividend distribution for 2021 was RMB 8.00 per 10 shares, totaling RMB 105,600,000, which was 32.60% of the net profit for that year [124]. - The company has a stable cash dividend policy, distributing at least 10% of the distributable profit each year, with a focus on providing reasonable returns to investors [122]. Operational Efficiency and Challenges - The company reported no significant risks affecting its production and operations during the reporting period [9]. - The company will retain undistributed profits to support project construction and improve production efficiency for long-term development [6]. - The company plans to continue focusing on its core business and improving operational quality despite market challenges [34]. - The company has implemented a production model based on "sales-driven production" to optimize inventory management and production efficiency [40]. - The company experienced a notable decline in production and sales volumes across various product lines, indicating a decrease in market demand [52]. Research and Development - In 2022, the company's R&D expenditure totaled 47.22 million yuan, with a focus on enhancing its product design and innovation capabilities, resulting in over 110 independent intellectual property rights, including 28 invention patents [36]. - The number of R&D personnel is 86, accounting for 11.9% of the total workforce [60]. - The company has established a training program aimed at enhancing the skills and knowledge of its R&D personnel to meet technical talent needs [121]. - Research and development expenses for 2022 were CNY 47,221,934.71, a decrease from CNY 51,664,563.61 in 2021 [196]. Market Position and Strategy - The company is recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise by the Ministry of Industry and Information Technology, indicating its strong market position and innovation capabilities [36]. - The textile machinery industry is experiencing a shift towards domestic brands, with local manufacturers increasingly recognized for their high-end equipment, capturing a significant market share previously held by international brands [79]. - The company plans to expand its service offerings to include full lifecycle maintenance and online support, moving beyond traditional warranty services [80]. - The company aims to become a comprehensive textile machinery production base, integrating R&D, design, manufacturing, and sales, with a focus on high-end intelligent textile machinery [83]. - The company plans to enhance its marketing network to capture more domestic and international market share, aiming to solidify its leading position in the industry [84]. Governance and Compliance - The company has established a governance structure that ensures effective checks and balances among the board, supervisory board, and management, enhancing operational transparency [91]. - The company held one shareholders' meeting during the reporting period, with all proposals approved, ensuring compliance with legal requirements and protection of shareholder rights [92]. - The company has independent financial accounting and management systems, ensuring no shared bank accounts with controlling shareholders [94]. - The company has not faced any delisting risks or bankruptcy restructuring matters [145]. - The company has maintained a good integrity status, with no significant debts or court judgments outstanding during the reporting period [147]. Financial Management and Investments - The company has engaged in various entrusted financial management activities, with a total amount of 51,487.59 million RMB from self-owned funds and 24,000.00 million RMB from raised funds [152]. - The company has successfully recovered all expected returns from entrusted financial management, with annualized yields ranging from 2.49% to 3.60% [154]. - The company has not reported any overdue amounts in its entrusted financial management activities [152]. - The company has not disclosed any significant changes in its share capital structure during the reporting period [159]. Future Outlook - The management emphasized the importance of sustainability in their new strategies, aiming for a 20% reduction in carbon footprint by 2025 [105]. - Future outlook remains positive, with expectations of entering new markets in Southeast Asia by Q3 2023 [103]. - The company plans to increase R&D investment and enhance collaboration with research institutions and universities to maintain a leading position in product and technology within the industry [84].