TC(SH:603421)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was CNY 3,114,981,021.66, representing a 10.41% increase compared to CNY 2,821,323,506.72 in 2021[20]. - Net profit attributable to shareholders decreased by 24.23% to CNY 118,680,630.51 from CNY 156,625,457.89 in the previous year[20]. - The basic earnings per share for 2022 was CNY 0.18, down 25.00% from CNY 0.24 in 2021[21]. - The company's total assets increased by 10.75% to CNY 5,663,601,090.21 at the end of 2022, compared to CNY 5,113,868,705.77 at the end of 2021[20]. - The cash flow from operating activities showed a significant decline, with a net cash flow of -CNY 284,259,796.30 in 2022 compared to CNY 386,054,701.75 in 2021, a decrease of 173.63%[20]. - The company achieved a total revenue of 3.115 billion yuan in 2022, representing a year-on-year growth of 10.41%[34]. - The net profit for 2022 was 119 million yuan, a decrease of 24.23% compared to the previous year[34]. - The company reported a stable market demand for key products such as electric meters and carrier modules, despite fluctuations in sales volumes due to supply chain issues[122]. Dividends and Capital Management - The company plans to distribute a cash dividend of RMB 0.55 per 10 shares, totaling RMB 35,870,478.11 for the year 2022[4]. - The company does not plan to increase capital reserves or issue bonus shares for the year 2022[4]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[9]. - There are no non-operating fund occupations by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for external guarantees[6]. - The board of directors guarantees the authenticity, accuracy, and completeness of the annual report[9]. - The company has not faced any issues with more than half of the directors being unable to ensure the report's authenticity[7]. - The company has not disclosed any significant changes in its registered address or office address[16]. Research and Development - The company's R&D investment in 2022 reached 499 million, accounting for 16% of its revenue[45]. - The company has applied for over 550 patents and participated in the formulation of more than 50 standards by the end of 2022[44]. - The company has established multiple research centers, including the Qingdao Chip and Basic Theory Research Institute, to enhance its R&D capabilities[44]. - The company is focusing on chip development and providing complete solutions from chips to systems, emphasizing differentiated value services in the energy internet and smart grid sectors[95]. - The company has developed a new AFDD chip that utilizes ultra-fast AD real-time sampling, significantly improving performance in complex electrical environments[101]. Market Position and Strategy - The company won bids totaling 782 million yuan from the State Grid Corporation, an increase of 38.89% year-on-year[33]. - The company ranked seventh in provincial material bidding with a total of 1.052 billion yuan, achieving a historical high[33]. - The company signed strategic cooperation agreements with over 80 top real estate companies, leading the industry in market share[47]. - The company is focusing on the development of new technologies such as flexible direct current and virtual power plants as part of its strategic direction[51]. - The company is actively participating in industry exchanges and collaborations to build an intelligent power ecosystem[45]. Product Development and Innovation - The company launched two new series of products in 2022, expanding its product line to 1,500+ items, including the intelligent evacuation system[48]. - The company has developed five series of intelligent evacuation products, achieving significant technological breakthroughs, which will serve as a major sales growth driver in the next two years[172]. - The company has innovated in arc detection technology, developing the TC8501 arc detection chip, achieving industry-leading false alarm and missed detection rates for its AFDD products[75]. - The company is focusing on developing new products such as ultrasonic water meter chips and measurement chips, which are expected to support future growth[130]. Operational Efficiency and Quality Management - The company has implemented a comprehensive quality management system across the entire product lifecycle, receiving recognition such as the Mayor's Quality Award nomination in September 2021[77]. - The company is enhancing its operational capabilities through the integration of various information systems like MES, WMS, and ERP, ensuring agile delivery and high-quality service[78]. - The company has established a quality control goal of "three years zero defects, twenty years lifespan" and has a testing center covering 21 product categories and 202 testing items[105]. - The company has implemented a fully automated intelligent manufacturing capability, enhancing production efficiency and direct pass rates through advanced equipment and digital factory initiatives[106]. Market Trends and Future Outlook - The fire alarm market in the civil building sector is projected to grow steadily, with an estimated market size of 15-20 billion annually, driven by urbanization and mandatory policies[55]. - The domestic market for smart electric meters is expected to maintain a steady upward trend, driven by the demand from State Grid, Southern Grid, and local power companies, with annual tender quantities stabilizing at over 70 million units for State Grid and over 11 million units for Southern Grid[64]. - The company aims to become a leader in the medium and low voltage distribution field, leveraging its proprietary algorithms and reliable product designs[146]. - The company is focusing on the integration of smart grids and renewable energy, identifying it as a future growth point[145]. Challenges and Risks - The company faced a significant decline in labor costs, which dropped by 82.60% compared to the previous year, amounting to ¥9,397,637.83[124]. - Global supply chain adjustments have led to significant fluctuations in raw material prices, impacting production costs and profit margins[194]. - New product development faces market, cost, and product risks, necessitating innovation and rapid market response to customer needs[197]. - The company is implementing strategies to mitigate accounts receivable risks by classifying customers and ensuring secure payment strategies[195].