Youon(SH:603776)2023-04-20 16:00Financial Performance - The company's operating revenue for 2022 was ¥677,634,103.15, a decrease of 22.40% compared to ¥873,271,423.34 in 2021[26]. - The net profit attributable to shareholders for 2022 was -¥67,824,602.83, representing a decrease of 254.69% from ¥43,844,404.56 in 2021[26]. - The basic earnings per share for 2022 was -¥0.29, a decline of 245.00% compared to ¥0.20 in 2021[27]. - The total assets at the end of 2022 were ¥4,717,126,548.15, down 1.98% from ¥4,812,405,471.47 at the end of 2021[26]. - The net cash flow from operating activities for 2022 was ¥128,928,766.58, a decrease of 17.89% from ¥157,025,836.04 in 2021[26]. - The company's net assets attributable to shareholders at the end of 2022 were ¥3,314,929,270.34, a decrease of 2.39% from ¥3,396,025,670.63 at the end of 2021[26]. - The diluted earnings per share for 2022 was -¥0.26, a decrease of 230.00% from ¥0.20 in 2021[27]. - The weighted average return on equity for 2022 was -2.02%, down 3.33 percentage points from 1.31% in 2021[27]. - The company reported a significant increase in bad debt provisions due to delayed payments from customers, impacting net profit[27]. Cash Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.3 RMB per 10 shares, totaling approximately 29.89 million RMB (including tax) based on a total share capital of 232,656,780 shares as of March 31, 2023[6]. - The company has established a three-year shareholder return plan for 2021-2023, emphasizing cash dividends[139]. - The company has a cash dividend policy that aims to protect the rights of shareholders, especially minority investors[141]. - The company declared a cash dividend of CNY 29,887,881.40, which represents -44.07% of the net profit attributable to ordinary shareholders in the consolidated financial statements[146]. - The company distributed a cash dividend of CNY 1.30 per 10 shares (including tax) during the reporting period[145]. Research and Development - The company invested in R&D for hydrogen energy products, focusing on a closed-loop ecosystem for hydrogen production, charging, and storage[39]. - The company has obtained a total of 246 domestic patents, 4 overseas patents, 81 software copyrights, 231 domestic trademarks, and 44 overseas trademarks, with 160 patents related to hydrogen energy[42]. - The company has a total of 446 R&D personnel, reflecting its commitment to innovation and technology development[136]. - The total R&D expenditure was CNY 43,129,630.94, accounting for 6.36% of operating revenue[78]. - The company is committed to increasing R&D investment to drive product upgrades and new product development[100]. Market Strategy and Product Development - The company is focusing on the development of hydrogen energy bicycles and related technologies as part of its future strategy[19]. - The company aims to reduce the manufacturing cost of hydrogen bicycles to be closer to that of electric bicycles, enhancing market competitiveness[41]. - The company is actively involved in setting standards for hydrogen bicycles in Jiangsu Province, aiming to strengthen its market position[39]. - The company aims to establish a green hydrogen ecosystem, focusing on producing more environmentally friendly and cost-effective hydrogen, with hydrogen products expected to become the main source of revenue in the next 2-3 years[44]. - The company is expanding its product offerings to include smart locks and intelligent management systems, enhancing its smart living services alongside its mobility solutions[55]. Risks and Compliance - The company has described potential risks in its report, urging investors to pay attention to investment risks[10]. - The company faces risks related to the sustainability of government policy support for bicycle transportation, which could impact market size and profitability if support decreases[102]. - The company is exposed to price fluctuations in raw materials, particularly electronic components, which may affect gross margins due to rising operational costs[103]. - Accounts receivable from government clients account for 72.92% of total receivables, posing a risk of bad debt if payments are delayed[106]. - The company has implemented measures to ensure compliance with high-tech enterprise qualifications to maintain tax benefits[105]. Corporate Governance - The company confirmed that all board members guarantee the authenticity, accuracy, and completeness of the annual report[9]. - The company has independent directors and external supervisors whose remuneration is based on industry standards[123]. - The company has a structured decision-making process for the remuneration of its directors and senior management[123]. - The company has established a performance evaluation mechanism for senior management, which is directly accountable to the board of directors[150]. - The company has undergone changes in its board members, including the election of a new chairman of the supervisory board[124]. Environmental Responsibility - The company aims to create a low-carbon travel platform with products like bicycles, shared electric vehicles, and hydrogen-powered bicycles[156]. - The company reduced carbon emissions by 4,357 tons through various carbon reduction measures, including the use of solar power and hydrogen fuel cell products[157]. - The company complies with multiple environmental laws and has not faced any administrative penalties related to environmental issues during the reporting period[155]. - The company has not disclosed a separate social responsibility or ESG report[160]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[5]. - The internal control audit report for the year 2022 received a standard unqualified opinion[152]. - The company has implemented strict management and control over its subsidiaries, ensuring compliance with relevant laws and regulations[151]. - The company has established a link between the compensation system and the execution of return measures[173]. Wealth Management and Investments - The company has entrusted a total of ¥400,000,000 in bank wealth management products, with no overdue amounts[183]. - The company has invested ¥100,000,000 in broker products sourced from raised funds, with an outstanding balance of ¥100,000,000[183]. - The company has allocated ¥438,000,000 in bank wealth management products, with an outstanding balance of ¥40,000,000[183]. - The company has successfully recovered all invested amounts from various wealth management products[186]. - The annualized return rate for the bank wealth management product from Agricultural Bank was 3.35%, yielding an actual return of ¥4,913,333.40[184].