ORIENT CABLE (NBO)(SH:603606)2023-03-09 16:00Financial Performance - In 2022, the company achieved a net profit of RMB 844,548,809.61, with a distributable profit of RMB 760,093,928.65 for shareholders after a 10% allocation to statutory reserves[6]. - The proposed cash dividend for 2022 is RMB 2.50 per 10 shares, totaling RMB 171,928,842.00, based on a total share capital of 687,715,368 shares as of December 31, 2022[6]. - The retained earnings after the profit distribution will amount to RMB 2,806,934,303.45[6]. - The net profit attributable to shareholders was CNY 842.35 million, down 29.14% from CNY 1.19 billion in 2021[24]. - The basic earnings per share were CNY 1.22, down 32.60% from CNY 1.81 in 2021[23]. - The company reported a net loss from non-operating income and expenses of CNY 4.19 million in 2022[27]. - The total operating revenue for the year was 700,000,000 CNY, with a year-on-year increase of 10%[72]. - The total remuneration paid to directors, supervisors, and senior management in 2022 amounted to CNY 49.4014 million[162]. Revenue and Sales - In 2022, the company achieved operating revenue of CNY 7.01 billion, a decrease of 11.64% compared to CNY 7.93 billion in 2021[20]. - The revenue from the land cable system increased by 3.53% to CNY 3,976,944,894.18[66]. - Revenue from the submarine cable system and marine engineering totaled 3.028 billion RMB, down 25.82% year-on-year, while revenue from the land cable system increased by 3.53% to 3.977 billion RMB[59]. - The company experienced a significant increase in other income, which rose by 45.28% to CNY 23,330,444.63[60]. Assets and Liabilities - The company's total assets increased by 9.59% to CNY 9.19 billion at the end of 2022, compared to CNY 8.38 billion at the end of 2021[22]. - The company’s net assets attributable to shareholders increased by 12.54% to CNY 5.49 billion at the end of 2022, compared to CNY 4.88 billion at the end of 2021[22]. - The company's cash and cash equivalents increased by 34.74% to CNY 2,257,796,066.65, accounting for 24.57% of total assets[83]. - The company's long-term borrowings increased significantly, reaching CNY 1,060,901,694.44, which accounts for 11.55% of total liabilities[85]. Research and Development - The company applied for 54 patents, including 19 invention patents, significantly improving its intellectual property portfolio[32]. - The company has a total of 223 R&D personnel, making up 17.04% of the total workforce[79]. - The company reported a total R&D investment of 237,885,099.67 CNY, accounting for 3.39% of operating revenue[78]. - The company has been recognized for its contributions to technological innovation and has received multiple awards for its achievements[153]. Market Position and Strategy - The company was recognized as one of the "Top 10 Most Competitive Global Submarine Cable Companies" and "Top 10 Most Competitive Cable Enterprises in China" in 2022[30]. - The company aims to enhance its sustainable competitiveness and achieve its vision of becoming a modern enterprise with independent intellectual property rights and international core competitiveness[33]. - The company has established a comprehensive product range including 500kV and below AC and DC submarine cables, and various specialized cables for different applications[39]. - The company is focusing on deep-sea oil and gas extraction and offshore wind power development, providing comprehensive solutions in these sectors[42]. Operational Efficiency - The cash flow from operating activities was CNY 647.24 million, an increase of 10.42% from CNY 586.15 million in 2021[20]. - The company’s digital transformation is underway, with the successful integration of a SAP-based digital system to improve operational efficiency[33]. - The company emphasizes the importance of compliance and risk management to ensure stable and sustainable operations[124]. - The company has implemented a digital platform for regulatory management, enhancing the efficiency of internal control processes[183]. Sustainability and Environmental Responsibility - The company achieved zero major safety incidents, zero occupational diseases, and zero environmental pollution events during the reporting period[191]. - The company has established a sustainable development committee at the board level to oversee sustainability goals and plans[191]. - The company has implemented energy-saving measures resulting in an 8.35% reduction in comprehensive energy consumption per ten thousand yuan of output value[195]. - The company actively promotes the use of clean energy and carbon reduction technologies in its operations[193]. Corporate Governance - The company is committed to improving corporate governance and compliance with relevant laws and regulations[145]. - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirements for composition[142]. - The company held 7 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[142]. - The company has established a transparent performance evaluation system for directors, supervisors, and senior management, linking compensation to performance metrics[145].