长鸿高科(605008) - 2022 Q4 - 年度财报

Financial Performance - Total operating revenue for 2022 reached ¥2,371,757,038.70, a 37% increase from ¥1,733,405,937.53 in 2021[12] - Total operating costs for 2022 were ¥2,184,546,333.16, up 45% from ¥1,502,228,725.12 in 2021[12] - The company's total assets reached ¥2,917,947,961.44, up from ¥2,693,262,916.86, marking an 8% growth[12] - The company's net profit attributable to shareholders was 180 million RMB, a decrease of 2.45% year-on-year, while the net profit excluding non-recurring gains and losses was 160 million RMB, down 19.82%[21] - The company's total operating income for the year was CNY 1,402,279,975.15, down from CNY 1,721,717,353.30, reflecting a decrease of about 18.5%[48] - The operating profit decreased to CNY 192,272,036.35 from CNY 233,934,935.36, a decline of approximately 17.8%[44] - The company reported a total profit of CNY 189,406,713.51, down from CNY 208,727,590.16, which is a decrease of about 9.5%[44] - The total comprehensive income for the period was CNY 180,394,926.51, slightly lower than CNY 184,982,969.44 from the previous period, indicating a decrease of approximately 2.9%[46] Assets and Liabilities - Total current assets increased to ¥1,484,154,966.74 in 2022 from ¥1,474,556,568.20 in 2021, representing a growth of approximately 1.2%[3] - Total non-current assets reached ¥2,325,971,764.60 in 2022, compared to ¥1,945,769,069.07 in 2021, marking an increase of around 19.5%[3] - Total liabilities rose to ¥1,804,079,532.87 in 2022 from ¥1,597,400,751.94 in 2021, which is an increase of approximately 12.9%[6] - Current liabilities amounted to ¥919,864,781.14, an increase from ¥540,144,447.10 in 2021, indicating a 70% rise[12] - The company's total equity increased to ¥2,006,047,198.47 in 2022 from ¥1,822,924,885.33 in 2021, reflecting a growth of approximately 10.1%[6] Cash Flow - The company's cash flow from operating activities was 74.12 million RMB, a significant improvement from a negative cash flow of 61.35 million RMB in the previous year[23] - The net cash flow from operating activities was ¥354,593,241.93, a significant improvement compared to a net outflow of ¥11,250,030.15 in 2021[87] - Total cash inflow from operating activities was ¥1,349,095,834.77, while cash outflow was ¥994,502,592.84, resulting in a net cash flow of ¥354,593,241.93[87] - The company's cash and cash equivalents decreased to ¥358,083,357.86 in 2022 from ¥497,033,013.51 in 2021, a decline of about 28.0%[2] - The cash and cash equivalents at the end of the period were ¥326,298,175.94, down from ¥483,308,650.01 at the beginning of the period, reflecting a net decrease of ¥157,010,474.07[88] Production and Capacity - The company plans to increase its PBAT production capacity to 600,000 tons per year, with the first phase already achieving 120,000 tons per year[17] - The company is developing a fully biodegradable thermoplastic plastic production project with a designed capacity of 120,000 tons per year, currently at a utilization rate of 52.40%[108] - The production capacity for styrene thermoplastic elastomers in Ningbo is 195,000 tons per year, with a utilization rate of 76.27%[108] - The company achieved a total comprehensive income of 184.98 million yuan in the reporting period[156] - The company is advancing the construction of a 250,000-ton second-phase project to further expand capacity and enhance competitiveness[147] Research and Development - Research and development expenses rose by 49.96% to 86.18 million RMB, primarily due to ongoing R&D activities by subsidiaries[23] - The total R&D expenditure was ¥86,175,317.15, accounting for 3.63% of operating revenue[37] - The company is focusing on a market-driven R&D model, enhancing communication between R&D, production, and sales teams to improve new product development efficiency[169] - The company is expected to achieve breakthroughs in the development of medical-grade SEBS products in 2023[148] - The company developed new products including ES217, custom CH510, and CH105 during the reporting period, enhancing its product portfolio[79] Market and Competitive Position - The company aims to enhance its competitive edge by integrating the production chain from BDO to PBAT and biodegradable products[17] - The market share of SBS products is dominated by three companies, which together hold over 70% of the market, indicating a high concentration in the industry[69] - SEBS products are similarly concentrated, with three companies controlling over 80% of the market share[70] - The company is focusing on the automotive lightweight sector, charging pile cables, and optical cable filling oil, in line with the rise of new energy vehicles and big data industries[151] - The company is actively involved in the development of biodegradable materials in response to national policies on plastic pollution control[60] Investments and Subsidiaries - The company made significant equity investments, including a capital increase of RMB 450 million to its subsidiary Changhong Biological and the establishment of several new subsidiaries with registered capital totaling RMB 1.35 billion[133] - The total assets of Changhong Biological, a wholly-owned subsidiary, amounted to RMB 169,037,960, with a net profit of RMB 8,744,030 for the reporting period[141] - The company is in the process of establishing a new subsidiary focused on biodegradable materials, with a registered capital of RMB 30 million[136] - The company has completed a capital increase for its subsidiary Changhong Biological, confirming the completion of the investment[133] - The company is actively expanding its market presence through new product development and strategic investments in related sectors[142] Financial Management and Governance - The company is committed to maintaining a sustainable operation and has established necessary internal controls to ensure the accuracy of financial reporting[178] - The company’s financial statements are prepared based on the going concern assumption, with management responsible for assessing the company's ability to continue operations[178] - The company held a total of 10 board meetings during the year, with all meetings conducted via communication methods[183] - The board approved the proposal for a private placement of A-shares to raise funds for the year 2022[179] - The audit committee held three meetings during the reporting period, reviewing the annual financial reports and internal control evaluations[184]