Great Shengda(SH:603687)2023-04-28 16:00Financial Performance - In 2022, the company achieved operating revenue of CNY 2,058,257,999.23, representing a year-on-year increase of 23.66%[25]. - The net profit attributable to shareholders was CNY 105,335,669.39, up 7.99% compared to the previous year[25]. - The net profit after deducting non-recurring gains and losses reached CNY 75,161,018.22, reflecting a growth of 22.64% year-on-year[25]. - The company's cash flow from operating activities significantly increased to CNY 247,628,716.33, a rise of 1,657.70% from the previous year[25]. - By the end of 2022, total assets amounted to CNY 3,443,277,464.02, marking an 18.65% increase from the end of 2021[25]. - Basic earnings per share for 2022 were CNY 0.25, a 4.17% increase from 2021[26]. - The weighted average return on equity was 5.3%, slightly up from 5.28% in the previous year[26]. - The company reported a gross margin of 40%, maintaining a stable margin compared to the previous year[139]. Dividend Distribution - The company plans to distribute a cash dividend of 0.2512 CNY per 10 shares, totaling approximately 10,537,029.88 CNY (including tax) based on a total share capital of 419,467,750 shares as of March 31, 2023, resulting in a cash dividend ratio of 10% for the year 2022[6]. - The net profit attributable to shareholders for the year is 105,335,669.39 RMB, with the cash dividend amounting to 10,537,029.88 RMB, indicating a cash dividend payout ratio of less than 30%[170]. Acquisitions and Expansion - The company acquired 60% equity of Sichuan Zhongfei, entering the high-end liquor packaging business, contributing to new revenue growth[40]. - The company also acquired 6% equity of Zhejiang Aidi, enhancing its high-margin product offerings in the packaging sector[40]. - The company acquired two subsidiaries, Sichuan Dashengda Zhongfei and Zhejiang Aidier, expanding its high-end wine packaging and boutique cigarette packaging business[80]. - The company has established multiple production bases in Zhejiang, Jiangsu, Sichuan, Hubei, Xinjiang, and Guizhou, with a new base under construction in Hainan[55]. Market Trends and Industry Insights - The paper packaging market in China reached a total revenue of CNY 1,229.33 billion in 2022, indicating a robust industry growth[43]. - The global corrugated packaging market is projected to grow at a rate of 3.7% annually, reaching 300 billion USD by 2023[45]. - The implementation of plastic pollution regulations is accelerating the shift from plastic to paper packaging, enhancing domestic demand for paper packaging solutions[48]. - The high-end liquor market in China is expected to expand significantly, driven by increasing consumer demand for quality and health consciousness, with a focus on premium packaging solutions[105]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period, as detailed in the management discussion and analysis section[11]. - The company has not faced any significant operational risks during the reporting period, as outlined in the risk management section[11]. - The company's future development plans and strategic goals are subject to market risks, and investors are advised to be cautious[7]. Corporate Governance and Compliance - The company has not faced any significant legal or regulatory penalties in the past 36 months, maintaining compliance with relevant laws and regulations[131]. - The company strictly adheres to the information disclosure management regulations, ensuring the accuracy and completeness of disclosures, with no incidents of insider trading reported during the reporting period[131]. - The company has established various internal management systems to regulate insider information and ensure proper handling of sensitive data[131]. Research and Development - The company increased its R&D expenses by 40.51% to CNY 79.58 million, driven by enhanced R&D efforts and new subsidiaries[71]. - The company has obtained 47 invention patents, 148 utility model patents, 1 design patent, and 22 software copyrights as of December 31, 2022[68]. - The company is investing heavily in R&D, with a budget allocation of 100 million for new technologies and product development[139]. Environmental and Social Responsibility - The company actively engaged in environmental protection, complying with multiple environmental laws and regulations, and has obtained ISO14001 certification for its environmental management system[185]. - The company implemented carbon reduction measures, achieving a reduction of 3,865 tons of CO2 equivalent emissions through the use of rooftop photovoltaic power generation[186]. - The company made a total donation of 989,000 RMB to the Xiaoshan District Charity Association for various charitable activities, including poverty alleviation and education support[187]. Employee Management and Development - The company emphasizes employee training through a systematic and multi-level training program to enhance overall employee skills and competencies[166]. - The company has established a comprehensive salary management system, with performance-based compensation linked to annual business results and individual performance[165]. - The total number of employees in the parent company is 679, while the total number of employees in major subsidiaries is 2,029, resulting in a combined total of 2,708 employees[164].