RAYNEN(603933)2023-04-27 16:00Financial Performance - In 2022, the company's operating revenue was CNY 2,135,848,164.99, representing a 2.42% increase compared to CNY 2,085,366,418.19 in 2021[22]. - The net profit attributable to shareholders of the listed company decreased by 37.37% to CNY 53,666,746.02 in 2022 from CNY 85,684,321.36 in 2021[22]. - The basic earnings per share dropped by 37.88% to CNY 0.2645 in 2022, down from CNY 0.4258 in 2021[23]. - The net cash flow from operating activities was negative CNY 135,359,846.52 in 2022, compared to negative CNY 42,592,117.41 in 2021[22]. - The total assets increased by 6.96% to CNY 2,107,915,277.61 at the end of 2022, up from CNY 1,970,769,622.79 at the end of 2021[22]. - The company reported a net profit of CNY 8,767.19 million after excluding share-based payment expenses, a decrease of 8.19% compared to the previous year[23]. - The company experienced a significant decline in net profit attributable to shareholders after deducting non-recurring gains and losses, which was CNY 7,263.27 million, down 15.22% year-on-year[23]. - The company recorded non-recurring gains of CNY 15,039,217.08 in 2022, compared to CNY 9,826,634.33 in 2021[26]. - The weighted average return on net assets decreased to 4.57% in 2022, down from 8.07% in 2021, a reduction of 3.50 percentage points[23]. - The company reported a total revenue of RMB 127,173.97 million, with a net profit of RMB 3,209.15 million from its subsidiary Beinu International[103]. Dividend and Shareholder Information - The proposed cash dividend for the 2022 fiscal year is CNY 0.90 per share (including tax), totaling CNY 18,945,738.00 (including tax) based on a total share capital of 210,508,200 shares, resulting in a cash dividend payout ratio of 35.30%[5]. - The company has established a clear cash dividend policy in accordance with relevant regulations, ensuring that the decision-making process is complete and transparent[158][160]. - The total number of shares held by the board members at the end of the reporting period was 1,250,000 shares, with no changes during the year[135]. - The total pre-tax remuneration for the board members during the reporting period amounted to 883.78 million CNY[135]. - The company has not proposed any share buyback plans as part of its cash dividend distribution[163]. Corporate Governance - The company received a standard unqualified audit report from Huaxing Accounting Firm, ensuring the authenticity, accuracy, and completeness of the financial report[4]. - The company maintains a commitment to transparency and has ensured that all board members attended the board meeting to discuss the annual report[8]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal requirements[127]. - The board held 9 meetings in 2022, effectively exercising its decision-making mechanism[127]. - The supervisory board comprises 3 members, including 1 employee representative, and held 9 meetings during the reporting period[128]. - The company emphasizes stakeholder rights and has published a 2022 Social Responsibility Report[129]. - The company adheres to strict information disclosure regulations, ensuring timely and accurate reporting of significant information[130]. - Internal control measures were revised in accordance with relevant laws, and an audit report on internal control effectiveness was issued[131]. - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations[132]. - The company has established an independent financial department and accounting system, ensuring financial autonomy[133]. Market and Industry Trends - The textile machinery industry in China faced significant challenges in 2022, with major economic indicators showing a continuous decline; the revenue of large-scale textile machinery enterprises was 96.639 billion yuan, down 2.24% year-on-year, and total profit was 6.072 billion yuan, down 21.14% year-on-year[44]. - The overall scale of China's industrial automation market reached approximately 261.1 billion yuan in 2022[49]. - The market share of domestic brands in the industrial control industry reached 43.70% in 2022, an increase of 0.7 percentage points compared to 2021[50]. - The company is actively developing new products in the fields of hydrogen energy and solar energy, with several solutions already adopted by well-known clients[41]. - The company is positioned to benefit from the increasing demand for low-voltage frequency converters, which are essential for energy-saving transformations in manufacturing[109]. Research and Development - R&D investment in manufacturing business reached 107.52 million RMB, a year-on-year increase of 38.60%, accounting for 17.14% of manufacturing revenue[33]. - The company maintained a high level of R&D investment, with R&D expenses amounting to 120.85 million RMB, an increase of 36.93% year-on-year[75]. - The company has established a performance evaluation system for senior management, ensuring competitive compensation aligned with responsibilities[166]. - The company is focusing on the development of integrated, intelligent, and networked knitting and sewing equipment control systems, driven by rising labor costs and consumer demand for personalized products[105]. - The company launched the third-generation servo system and expanded the power range of servo drives to 7.5KW, enhancing overall performance[38]. Risks and Challenges - The company faces macroeconomic risks that could impact its performance, particularly in industries such as textiles, robotics, and electronics[116]. - High supplier concentration poses a risk, as the company relies on a limited number of IC design manufacturers for its distribution business[117]. - Currency fluctuations may affect the company's profits due to its involvement in IC product distribution and foreign currency borrowings[118]. - Supply chain disruptions in the semiconductor market could adversely affect the company's IC distribution and manufacturing operations[120]. Environmental and Social Responsibility - The company has implemented ISO14001 environmental management system certification, emphasizing the integration of production and environmental protection[174]. - The company has actively engaged in carbon reduction measures, promoting green commuting and energy-saving practices among employees[174]. - The company has committed to social responsibility, adhering to social ethics and contributing to community welfare[175]. - The company has made investments in environmental protection during the reporting period[171]. - The company has maintained compliance with environmental laws and has not experienced any pollution incidents or legal violations[172].