Valin Precision(SH:603356)2023-04-11 16:00Financial Performance - The net profit attributable to the parent company's shareholders for 2022 was -9.4762 million RMB, indicating a loss compared to the previous year[6]. - The company's operating revenue for 2022 was approximately ¥1.75 billion, a decrease of 21.53% compared to ¥2.23 billion in 2021[23]. - The net profit attributable to shareholders was a loss of approximately ¥9.48 million, compared to a profit of ¥2.03 million in 2021, representing a decline of 567.10%[23]. - The company's total revenue for the reporting period was 175,000,000, with a year-on-year increase of 10%[50]. - The company reported a net loss of 9.476 million RMB, primarily due to external economic factors leading to reduced orders and increased competition[41]. - The company's total profit for 2022 was CNY -8,457,435.66, down from CNY 2,567,917.17 in the previous year[188]. - The total comprehensive income for 2022 was CNY -12,935,015.10, compared to CNY 1,913,893.50 in 2021, highlighting a challenging year[188]. Profit Distribution and Reserves - The undistributed profits available for distribution at the end of the period amounted to 303.7244 million RMB[6]. - The company will not distribute profits or increase capital reserves due to the negative net profit for 2022, aiming to ensure stable operations and long-term shareholder interests[6]. - The cash dividend policy stipulates that if there are no major investment plans, at least 10% of the distributable profit should be distributed in cash annually[113]. - In the case of a mature development stage without major capital expenditures, the cash dividend proportion should be at least 80% of the current profit distribution[114]. - The company's retained earnings decreased to RMB 303,724,386.24 from RMB 315,785,966.24, reflecting a decline of approximately 3.5%[180]. Assets and Liabilities - The total assets increased by 12.30% to approximately ¥2.19 billion at the end of 2022, compared to ¥1.95 billion at the end of 2021[23]. - The company's total equity increased to RMB 968,604,004.27 from RMB 859,796,993.75, reflecting a growth of approximately 12.7%[180]. - Total liabilities reached RMB 1,225,569,672.31, up from RMB 1,094,023,885.15 in 2021, representing an increase of approximately 12.0%[179]. - The company's cash and cash equivalents increased to RMB 344,907,120.07 from RMB 168,835,488.28, marking a significant rise of about 104.0%[178]. - The accounts receivable balance as of December 31, 2022, was 593.71 million CNY, a decrease of 17.60 million CNY from the beginning of the period[166]. Operational Efficiency and Cost Management - The company's operating costs decreased by 23.06% to 1.591 billion RMB, reflecting the decline in sales revenue[42]. - Research and development expenses were reduced by 30.01% to 25.56 million RMB due to the economic downturn and decreased sales[42]. - The company emphasized strict quality control to mitigate risks associated with product recalls and reputational damage, continuously improving its quality management systems[78]. - The company plans to implement cost reduction measures through process optimization and supply chain integration to lower the debt-to-asset ratio[74]. Governance and Management - The company has established a governance structure that includes a board of directors and supervisory board, ensuring compliance with legal and regulatory requirements[81]. - The company is committed to maintaining independence from its controlling shareholder in operations, personnel, assets, and finances[82]. - The company has independent directors and supervisors with various professional backgrounds, enhancing governance and oversight[90]. - The company has a structured approach to appointing and evaluating its board members and senior management, ensuring accountability and performance alignment[90]. Research and Development - The company has developed 244 patents, including invention and utility model patents, as part of its ongoing R&D efforts[31]. - Research and development expenses totaled 25,563,889.97, accounting for 1.46% of total revenue[55]. - The company plans to focus on product upgrades, technological innovation, and talent optimization to enhance operational capabilities and stimulate growth[73]. Market and Industry Conditions - The elevator industry is closely tied to the real estate sector, and any downturn could affect the company's performance; the company intends to optimize its industrial structure and develop new products and markets[77]. - In the first eight months of 2022, domestic elevator production decreased by 6.2% year-on-year, with an expected decline in market growth for the year[70]. - The wind power sector saw a 10.89% year-on-year decrease in new installed capacity in 2022, with offshore wind power installations dropping by 64.36%[72]. Investor Relations and Shareholder Engagement - The company will strengthen investor relations management to improve communication and engagement with stakeholders[75]. - The company aims to enhance investor relations management by improving the proactivity, relevance, and effectiveness of information disclosure, providing more convenient ways for investors to understand the company's operations[76]. - The company actively engages with investors through various channels to enhance transparency and protect shareholder interests[84]. Environmental and Social Responsibility - The company invested 1.7141 million yuan in environmental protection during the reporting period[123]. - The company reduced carbon emissions by 2,308 tons through various measures, including energy-saving renovations and the use of clean energy[125]. - The total donation for social responsibility projects was 28,000 yuan, benefiting local organizations[126].