LIBA(SH:603519)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was CNY 1,416,414,418.09, a decrease of 10.74% compared to CNY 1,586,785,340.96 in 2021[21] - Net profit attributable to shareholders of the listed company reached CNY 564,575,546.62, representing a significant increase of 413.95% from CNY 109,851,031.23 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 106,739,116.57, a slight decrease of 1.97% compared to CNY 108,887,809.61 in 2021[21] - The net cash flow from operating activities was CNY 139,927,343.08, an increase of 106.91% from CNY 67,626,265.12 in the previous year[21] - As of the end of 2022, the net assets attributable to shareholders were CNY 1,284,317,570.28, up 55.43% from CNY 826,273,159.26 at the end of 2021[21] - Total assets increased by 42.42% to CNY 1,842,555,322.86 from CNY 1,293,771,472.17 in 2021[21] - Basic earnings per share for 2022 reached 2.120 CNY, a significant increase of 414.56% compared to 0.412 CNY in 2021[22] - The weighted average return on equity rose to 53.95% in 2022, an increase of 40.04 percentage points from 13.91% in 2021[22] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 7 per 10 shares, based on a total share capital of 266,327,839 shares as of December 31, 2022[5] - The cash dividend represents 96.98% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is 109,851,031.23 RMB[134] - The company has established a cash dividend policy that emphasizes reasonable returns to investors while considering the company's operational conditions and sustainable development[129] Market Position and Industry Outlook - The company is positioned as a leading player in the home appliance composite materials industry, benefiting from a robust supply chain and increasing demand[29] - The home appliance industry is expected to see further consumption release in 2023 as economic conditions improve, enhancing consumer purchasing power[30] - The total retail sales of China's home appliance market in 2022 reached CNY 835.2 billion, a year-on-year decline of 5.2%[34] - The cumulative production of air conditioners in 2022 was 148 million units, a year-on-year decrease of 4.3%, while the cumulative shipment was 150 million units, down 1.7%[35] - The cumulative retail sales of refrigerators in 2022 amounted to CNY 102.4 billion, reflecting a significant market presence despite overall market challenges[34] Research and Development - The company developed 91 new PCM products in 2022, with 65 entering mass production, and 26 new VCM products, with 11 entering mass production[43] - The company has a total of 11 valid invention patents and 37 utility model patents, indicating strong R&D capabilities[43] - Research and development expenses amounted to 46,803,191.49 yuan, constituting 3.30% of total operating revenue[62] - Research and development expenditures have increased by H%, focusing on next-generation technologies and product enhancements[164] Risk Management and Compliance - The company has outlined potential risks in its annual report, which can be found in the management discussion and analysis section[8] - The company has established a comprehensive risk management system to enhance financial data analysis and fund usage supervision[138] - The company has implemented a comprehensive internal control system to ensure compliance, asset security, and the accuracy of financial reporting[137] - The company has not faced any penalties from securities regulatory authorities in the past three years[112] Corporate Governance - The company held one annual shareholders' meeting during the reporting period, ensuring compliance with relevant regulations and facilitating both on-site and online voting for investors[93] - The board of directors convened four meetings during the reporting period, with a composition that includes three independent directors, ensuring compliance with governance standards[94] - The company has established a performance evaluation and incentive system linking management compensation to company performance, promoting transparency in the hiring of senior management[96] - The company is focusing on enhancing its corporate governance with the appointment of independent directors and supervisors[101] Employee and Talent Management - The company has a total of 295 employees, with 187 in production, 24 in sales, 48 in technical roles, 10 in finance, and 26 in administration[123][124] - The company has a training program that combines internal and external training to enhance employee skills and overall company performance[128] - The company emphasizes the importance of high-quality talent to support its ongoing projects and market expansion, focusing on employee training and performance evaluation to ensure sustainable development[89] Environmental Responsibility - The company invested approximately 17 million RMB in environmental protection during the reporting period[142] - The company upgraded its VOCs waste gas treatment system, introducing three RTO regenerative thermal oxidation devices to improve energy efficiency and reduce natural gas consumption[144] - The company successfully reduced carbon emissions by 210 tons through the use of RTO technology in its production process[151] - The company maintained stable pollutant emissions within regulatory limits, ensuring compliance with environmental standards[145] Shareholder Structure - The total number of common shareholders as of the end of the reporting period is 10,360, down from 10,608 in the previous month[196] - The top shareholder, Lu Fengxian, holds 69,039,049 shares, representing 25.92% of total shares[198] - The second-largest shareholder, Yancheng Dongfang Investment Development Group Co., Ltd., holds 58,813,319 shares, accounting for 22.08%[198] - The total number of shares held by the top ten shareholders includes significant stakes from individual and institutional investors, with no changes reported during the period[199]