Yongguan New Material(SH:603681)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥5.03 billion, representing a year-on-year increase of 30.91% compared to ¥3.84 billion in 2021[24]. - The net profit attributable to shareholders for 2022 was approximately ¥227.61 million, a slight increase of 0.93% from ¥225.51 million in 2021[24]. - The net profit after deducting non-recurring gains and losses was approximately ¥215.61 million, up 14.61% from ¥188.13 million in 2021[24]. - The cash flow from operating activities for 2022 was approximately ¥501.31 million, a significant increase of 4,053.38% compared to ¥12.07 million in 2021[24]. - The total assets at the end of 2022 were approximately ¥6.46 billion, an increase of 37.23% from ¥4.71 billion at the end of 2021[24]. - The weighted average return on equity for 2022 was 9.75%, down 3.00 percentage points from 12.75% in 2021[25]. - The basic earnings per share for 2022 was ¥1.19, a decrease of 9.16% compared to ¥1.31 in 2021[25]. - The company reported a net loss of approximately ¥10.59 million in Q4 2022, contrasting with profits in the previous three quarters[27]. - The total net assets attributable to shareholders at the end of 2022 were approximately ¥2.47 billion, an increase of 11.22% from ¥2.22 billion at the end of 2021[24]. - The company achieved a revenue of 502,695.22 million RMB, representing a year-on-year growth of 30.91%[59]. - The net profit attributable to shareholders was 22,761.46 million RMB, with a year-on-year increase of 0.93%[59]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, pending approval at the shareholders' meeting[5]. - The company’s profit distribution plan for 2022 indicates that the distributed profit accounts for 16.79% of the net profit attributable to shareholders[196]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 7.7675 million yuan[170]. - The total shareholding of the chairman and general manager, Lü Xinmin, remained unchanged at 77,993,820 shares, with a total pre-tax remuneration of 1.82 million yuan[160]. - The total number of shares held by all directors and supervisors at the end of the reporting period was 93,409,920 shares[161]. Audit and Compliance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants[4]. - The board of directors and supervisory board guarantee the authenticity and completeness of the annual report[8]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[172]. - The company held two shareholder meetings during the reporting period, with all procedures and resolutions compliant with relevant laws and regulations[158]. Risk Management - The company emphasizes the uncertainty of future plans and strategies, warning investors of potential risks[6]. - The company has detailed potential risks in the management discussion and analysis section of the report[10]. - The company faces risks related to raw material price volatility, particularly for key materials such as plastic particles, resin, and pulp, which could significantly impact its operating performance[146]. - The company is exposed to exchange rate fluctuations, especially since a substantial portion of its sales is denominated in USD, which may affect its financial results[147]. - The company has implemented hedging strategies to mitigate risks associated with raw material price fluctuations[112]. Production and Capacity Expansion - The company expanded its production capacity with new projects in Vietnam and Shandong, enhancing its market competitiveness and mitigating trade friction impacts[34]. - The company achieved a sales revenue of 516 million for BOPP film in 2022, with a production capacity increase due to the launch of three BOPP film lines[40]. - The production capacity for cloth-based tape increased by 5,103,000 square meters in 2022, reaching a total of 23,103,000 square meters, compared to 18,000,000 square meters in 2021[106]. - The production capacity for paper-based tape rose by 12,534,000 square meters in 2022, totaling 94,734,000 square meters, up from 82,200,000 square meters in 2021[106]. - The production capacity for film-based tape surged by 129,340,000 square meters in 2022, reaching 424,540,000 square meters, compared to 295,200,000 square meters in 2021[106]. Research and Development - Research and development expenses increased by 14.26% to 158,041,853.07 RMB, aimed at enhancing product market competitiveness[61]. - The company employed 194 R&D personnel, making up 7.80% of the total workforce[75]. - The company is engaged in the research and development of biodegradable materials, aiming to expand its product offerings in the adhesive sector[128]. Market Strategy and Expansion - The company has established a global service network, with subsidiaries in countries like Vietnam, Japan, and the USA, enhancing its marketing channels[47]. - The company aims to expand into high-end markets, including automotive wiring harness tape and special adhesives, while striving for domestic substitution in certain product categories[46]. - The company is focused on expanding its market presence through strategic partnerships and technological advancements in the adhesive industry[131]. - The company is actively pursuing an overseas brand strategy, establishing operational centers to expand its market presence internationally[142]. Governance and Management - The company has independent directors with diverse backgrounds, enhancing governance and oversight[168]. - The company’s management team has extensive experience in various sectors, contributing to strategic decision-making[168]. - The company has a structured evaluation process for determining the remuneration of its directors and senior management, involving a compensation and assessment committee[170]. - The company appointed Li Yingda as the Secretary of the Board and Vice General Manager, following the resignation of the previous Secretary and Vice General Manager[171]. Environmental and Social Responsibility - The company invested 1.29 billion RMB in environmental protection equipment during the reporting period, with a total investment of 2.52 billion RMB from 2015 to 2022[57][58]. - The company has developed a new type of environmentally friendly biodegradable tape with a degradation rate exceeding 95%, meeting higher environmental standards in the European and American markets[42]. - The company has a stable welfare system, having legally contributed to social insurance and housing funds for employees during the reporting period[188].