JHS(SH:603922)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was CNY 516,302,717.92, representing a slight increase of 0.23% compared to CNY 515,115,138.29 in 2021[19]. - The net profit attributable to shareholders of the listed company for 2022 was a loss of CNY 11,927,616.35, a decrease of 162.30% from a profit of CNY 19,145,090.38 in 2021[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 29,508,966.36, worsening by 58.48% compared to a loss of CNY 18,620,287.58 in 2021[20]. - Basic earnings per share decreased by 160.00% to -0.09 CNY compared to 0.15 CNY in the previous year[21]. - Net profit declined by 162.30% year-on-year, primarily due to a decrease in gross margin and reduced gains from the disposal of non-current assets[21]. - The main business revenue decreased by 0.03% to CNY 471.93 million, with the main business cost increasing by 2.83% to CNY 454.63 million[42]. - The gross margin for the automotive parts manufacturing industry was 3.66%, a decrease of 2.68 percentage points compared to the previous year[44]. Cash Flow and Assets - The cash flow from operating activities for 2022 was CNY 127,769,284.97, an increase of 1.80% from CNY 125,511,622.14 in 2021[20]. - Total assets at the end of 2022 were CNY 1,257,567,581.05, a slight increase of 0.04% from CNY 1,257,120,653.52 at the end of 2021[20]. - The net assets attributable to shareholders of the listed company decreased by 1.74% to CNY 1,037,402,300.72 at the end of 2022 from CNY 1,055,729,917.07 at the end of 2021[20]. - The company reported accounts receivable of 165.09 million yuan at the end of 2022, with 86.92% of it due within one year, indicating a stable accounts receivable turnover rate[77]. - The accounts receivable balance as of December 31, 2022, was 165,085,800 CNY, with a provision for bad debts amounting to 18,754,400 CNY, resulting in a net receivable of 146,314,400 CNY[191]. Production and Sales - In 2022, the company produced and sold 27.02 million and 26.86 million vehicles, representing year-on-year growth of 3.4% and 2.1%, respectively[29]. - The company produced 4,047.94 thousand automotive parts, with a sales volume of 4,192.16 thousand, reflecting a year-on-year increase of 5.61% in sales volume[46]. - The automotive industry saw a production and sales volume of 27.02 million and 26.86 million vehicles in 2022, representing year-on-year growth of 3.4% and 2.1% respectively[34]. - New energy vehicles experienced explosive growth, with production and sales reaching 7.058 million and 6.887 million units, marking year-on-year increases of 96.9% and 93.4%[34]. Research and Development - The company launched 4 new invention patents and 11 utility model patents in 2022, bringing the total to 29 invention patents and 101 utility model patents[34]. - The company is focusing on technological research and development to strengthen its technical capabilities and meet customer demands[73]. - The company’s research and development expenses increased by 6.11% to CNY 26.15 million[41]. - Total R&D expenditure amounted to ¥26,146,390.58, representing 5.06% of total revenue[51]. - The number of R&D personnel is 85, accounting for 16.67% of the total workforce[52]. Strategic Initiatives - The company established a new energy division and a lightweight subsidiary to stabilize and expand existing customer relationships and business in new energy vehicle components[29]. - The company is focusing on strategic investments and industry acquisitions to promote business expansion and achieve transformation and upgrading of its main business[29]. - The company aims to enhance its market presence by expanding into the East China, Central China, Southwest, and South China automotive clusters, particularly in the new energy vehicle market[72]. - The company plans to invest in mergers and acquisitions to expand its business scale and asset size, transitioning from traditional automotive materials to lightweight materials[72]. Governance and Compliance - The company has established a complete and independent governance structure, complying with the Company Law and relevant regulations[85]. - The company has an independent human resources department, ensuring that senior management does not hold positions or receive salaries from the controlling shareholder or its other enterprises[87]. - The financial management system is independent and complies with the Enterprise Accounting Standards, with no shared bank accounts with the controlling shareholder[87]. - The company has a structured approach to performance evaluation for its supervisory board members, which influences their remuneration[100]. - The company is focused on maintaining compliance with the Securities Law and the Stock Listing Rules to avoid future penalties[103]. Environmental Responsibility - The company has complied with environmental regulations and has not faced any major environmental violations or penalties during the reporting period[135]. - The company has achieved significant reductions in pollutant emissions, with nitrogen oxides measured at 13 mg/m3, well below the standard limit of 300 mg/m3[136]. - The company has implemented measures to reduce carbon emissions, including replacing old manufacturing equipment with energy-efficient devices and promoting the use of rooftop solar photovoltaic power[144]. - The company has developed an emergency response plan for environmental incidents, which has been filed with relevant authorities[142]. Shareholder Relations - The company plans to distribute at least 20% of the distributable profits as cash dividends if the net profit for the year is positive and the accumulated undistributed profits are positive[121]. - The company has established a three-year shareholder dividend return plan cycle, which will be adjusted based on external and internal business conditions[127]. - The company has committed to maintaining the voluntary lock-up of shares acquired by the actual controller for a period of thirty-six months[150]. - The company reported a total of 7,141 ordinary shareholders as of the end of the reporting period, an increase from 6,732 at the end of the previous month[169]. Risks and Challenges - The company faced significant pressures from supply shocks, demand contraction, and weakened expectations in the automotive industry[29]. - The company recognizes the risk of declining automotive production and sales due to macroeconomic factors, which could impact future performance[76]. - The company faces risks from fluctuations in raw material prices, which significantly impact gross margins and overall performance[76].