Warom Incorporated(SH:603855)2023-04-26 16:00Financial Performance - The company's operating revenue for 2022 was CNY 3,042,926,181.75, a slight increase of 0.52% compared to CNY 3,027,303,165.75 in 2021[24]. - The net profit attributable to shareholders for 2022 was CNY 358,181,075.27, representing a decrease of 6.01% from CNY 381,092,714.53 in the previous year[24]. - The basic earnings per share for 2022 was CNY 1.06, down 6.19% from CNY 1.13 in 2021[25]. - The diluted earnings per share also decreased to CNY 1.05, a decline of 7.08% compared to the previous year[25]. - The net profit attributable to shareholders was CNY 358.18 million, a decrease of 6.01% compared to the previous year[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 357.86 million, an increase of 17.28% year-on-year[33]. - The company achieved a total revenue of 3.04 billion CNY in 2022, representing a year-on-year increase of 0.52%[48]. - The company reported a significant increase in financial income, with financial expenses showing a gain of RMB 1,472.86 million compared to a loss of RMB 289.38 million in the previous year[50]. Cash Flow and Assets - The net cash flow from operating activities decreased by 64.35% to CNY 181,362,334.40, primarily due to reduced cash receipts from sales[24][26]. - The company's total assets at the end of 2022 were CNY 4,250,771,222.98, an increase of 2.86% from CNY 4,132,764,958.70 in 2021[24]. - The net cash flow from operating activities significantly decreased by 64.35% to RMB 18,136.23 million from RMB 50,868.16 million, mainly due to a reduction in cash received from sales of goods and services[50]. - The company's cash and cash equivalents were RMB 628,520,444.06, a decrease from RMB 733,851,395.09 in the previous year[196]. - The accounts receivable balance was RMB 1,886,158,985.73, with a bad debt provision of RMB 288,016,978.44[187]. Segment Performance - The factory-use segment generated sales revenue of CNY 199.3 million, up 18.1% year-on-year, with domestic trade revenue increasing by 22.0% to CNY 136.5 million[33]. - The new energy segment reported revenue of CNY 74.5 million, down 21.0% year-on-year[33]. - The professional lighting segment's revenue decreased by 24.6% year-on-year to CNY 24.5 million due to increased production and management costs[36]. - The factory segment generated revenue of 1.99 billion CNY, up 18.1% year-on-year, with domestic sales increasing by 22.0% to 1.37 billion CNY[41]. - The energy segment reported revenue of 745 million CNY, down 21.0% year-on-year, with the new energy EPC business declining by 33.3% to 465 million CNY[42]. Market and Strategic Initiatives - The company expanded its market into military and nuclear power sectors, developing advanced nuclear-grade lighting products and automation solutions[34]. - The company is transitioning from a "device manufacturer" to a "production safety service provider" in the smart explosion-proof equipment market, targeting a market size exceeding 10 billion RMB[68]. - The global explosion-proof electrical market is projected to grow from over 5 billion USD in 2019 to 8 billion USD by 2025, indicating significant market expansion opportunities[38]. - The company plans to fully enter the growth phase of the professional lighting market starting in 2023, following adjustments in procurement models and market conditions[37]. Governance and Compliance - The company’s governance procedures for the shareholder meeting were confirmed to be compliant with relevant laws and regulations[89]. - The company has independent directors and supervisors, ensuring compliance with governance standards[96]. - The company has not been subject to penalties from securities regulatory agencies in the past three years[100]. - The company confirmed that all directors, supervisors, and senior management have complied with relevant laws and regulations[143]. Employee and Management - The company had a total of 1,966 employees, with 1,183 in production, 274 in sales, 338 in technical roles, 47 in finance, and 124 in administration[111]. - The company established a salary management system that includes base salary, allowances, and bonuses, with performance evaluations determining bonus distribution[112]. - The company has a total of 338 R&D personnel, with 53.57% holding a bachelor's degree or higher[61]. - The company is facing challenges in talent recruitment due to the expansion of its existing team, which is operating at full capacity[80]. Environmental and Social Responsibility - The company invested 836,000 RMB in environmental protection during the reporting period[127]. - The company reduced carbon emissions by 120 tons through measures such as using clean energy and photovoltaic power generation[130]. - The company has not been subject to any administrative penalties related to environmental issues during the reporting period[130]. Shareholder Information - The company reported a total of 244,726,300 shares at the beginning of the year, which decreased to 238,929,500 shares by the end of the year, reflecting a reduction of 5,796,800 shares[92]. - The top shareholder, Hu Zhirong, holds 118,670,000 shares, representing 35.16% of the total shares, with 20,500,000 shares pledged[168]. - The company has a total of 3,851,000 restricted shares, with 2,048,000 shares released this year and 39,000 shares repurchased and canceled[164]. Audit and Financial Reporting - The audit opinion confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2022[182]. - The audit report emphasizes the importance of internal controls in the financial reporting process[190]. - The management assessed the recoverability of accounts receivable, which was determined to be a key audit matter due to significant accounting estimates involved[187].