Champion Asia(SH:603386)2023-03-24 16:00Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares to all shareholders, pending approval at the 2022 annual general meeting[6]. - The total cash dividend for the 2022 fiscal year is RMB 65.264 million, which represents 40.13% of the net profit attributable to shareholders[145]. - The company has a clear cash dividend policy that requires a minimum of 20% of the total dividend amount to be distributed in cash if there are significant investment plans or cash expenditures[144]. - In 2021, the company distributed a total cash dividend of RMB 93.235 million, accounting for 44.95% of the net profit attributable to shareholders[145]. - The company's profit distribution plan is subject to approval at the annual shareholders' meeting, ensuring transparency and shareholder engagement[146]. Financial Performance - The company's operating revenue for 2022 was ¥2,572,827,310.93, a decrease of 5.65% compared to ¥2,726,901,374.99 in 2021[28]. - The net profit attributable to shareholders for 2022 was ¥162,625,763.25, down 21.17% from ¥206,291,788.38 in 2021[28]. - The basic earnings per share for 2022 was ¥0.60, representing a decline of 34.07% from ¥0.91 in 2021[29]. - The weighted average return on equity decreased to 10.90% in 2022, down 5.56 percentage points from 16.46% in 2021[29]. - The total assets at the end of 2022 were ¥3,570,262,819.89, an increase of 1.54% compared to ¥3,516,141,795.00 at the end of 2021[28]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[11]. - The company has outlined various risks in its operations, including macroeconomic fluctuations and raw material price volatility[11]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[7]. - The company faced risks from raw material price fluctuations, as direct raw materials account for a significant portion of operating costs, and any substantial price increases could adversely affect profitability[106]. - The company acknowledges the risk of intensified market competition, particularly from larger firms with advanced technology and production capabilities, which could affect its market position[107]. Corporate Governance - The company has established a robust governance structure, ensuring independence from its controlling shareholder in terms of operations, finance, and management[116]. - The board of directors consists of 9 members, including 3 independent directors, and held 12 meetings during the reporting period, ensuring compliance with legal and regulatory requirements[115]. - The supervisory board held 10 meetings with no absences, actively participating in decision-making and maintaining oversight of the company's operations and financial status[116]. - The company has improved its investor relations management through various channels, including phone consultations and performance briefings[116]. - The company has not encountered any significant discrepancies in governance compared to regulatory requirements[116]. Research and Development - The company invested CNY 131.87 million in R&D, accounting for 5.13% of operating revenue, and added 90 new patents during the reporting period[42]. - The company has a diverse product structure, including rigid circuit boards (RPCB), flexible circuit boards (FPC), and high-density interconnect circuit boards (HDI), with the capability to produce boards with 1-108 layers[48]. - The number of R&D personnel is 591, making up 12.53% of the total workforce[78]. - The company plans to continue increasing R&D investment, focusing on high-layer boards, high-frequency boards, and new applications in sectors like new energy and 5G communication, with an emphasis on energy-saving and resource recycling technologies[103]. - The company has established partnerships with research institutions to enhance its innovation capabilities[125]. Environmental Compliance - The company has established a robust internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring compliance and asset security[155]. - The company has implemented a performance evaluation system for senior management, linking their compensation to the achievement of operational goals[153]. - The company has established pollution control facilities that meet environmental assessment and discharge permit requirements, ensuring compliance with emission standards[173]. - The company has implemented solid waste treatment measures, ensuring that all solid waste is either recycled or safely disposed of without external discharge[167]. - The company has established an emergency response plan for environmental pollution incidents to ensure public safety and effective crisis management[176]. Market Strategy - The company’s strategic focus includes expanding into new energy and automotive electronics sectors, while maintaining its core PCB services[37]. - The company plans to enhance its product structure and customer base, focusing on expanding its presence in the renewable energy sector, particularly in photovoltaic inverters[102]. - The company intends to leverage its accumulated advantages in technology, quality, and service to meet customer demands and expand its market share[101]. - The company is committed to advancing smart manufacturing and digital transformation to improve production efficiency and reduce labor costs[100]. - The company is transitioning PCB manufacturing operations to its wholly-owned subsidiary, Huizhou Junya Precision, which will change its corporate tax rate from 15% to 25% due to non-compliance with high-tech enterprise standards[111]. Employee Engagement - The company has established an internal talent training program to enhance employee skills and knowledge, including various training types for new and existing employees[142]. - The company has a structured approach to employee incentives, including stock options and employee shareholding plans, to motivate staff and align their interests with company performance[151]. - The company completed the second phase of its employee stock ownership plan, purchasing a total of 11,890,000 shares, which represents 3.64% of the total issued share capital, at an average price of approximately 10.43 CNY per share, totaling 124.01 million CNY[152]. - The company has established a comprehensive employee protection system to ensure fair treatment and equal opportunities for all employees[195]. - The company has implemented a performance evaluation system for senior management, linking their compensation to the achievement of operational goals[153].