Friend (SH:605050)2023-04-17 16:00Financial Performance - Total operating revenue for 2022 reached ¥10,342,435,555.32, an increase of 3.91% from ¥9,953,062,156.39 in 2021[24] - Net profit for 2022 was ¥309,484,965.33, a decrease of 9.12% compared to ¥340,598,435.34 in 2021[25] - Basic earnings per share for 2022 were ¥0.70, down from ¥0.78 in 2021[25] - Total comprehensive income for 2022 was CNY 228,255,028.41, compared to CNY 317,623,853.34 in 2021, reflecting a decrease[40] - The net profit attributable to shareholders for 2022 was approximately CNY 304.96 million, a decrease of 9.96% from CNY 338.67 million in 2021[143] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 281 million, down 11.17% from the previous year[195] Assets and Liabilities - The total assets of Furan De Company reached RMB 6,895.32 million as of December 31, 2022, an increase from RMB 6,497.96 million in the previous year, representing a growth of about 6.12%[12] - Total liabilities decreased from 3,251,913,245.66 to 2,845,721,317.51, a reduction of approximately 12.5%[19] - Owner's equity increased from 3,246,051,377.09 to 4,049,601,846.72, representing a growth of about 24.8%[19] - The total equity attributable to shareholders rose from 3,143,651,306.50 to 3,936,338,533.30, an increase of about 25.3%[19] - The total assets at the end of 2022 were approximately CNY 6.90 billion, reflecting a year-on-year growth of 6.12% from CNY 6.50 billion in 2021[143] Cash Flow - Cash inflow from operating activities totaled CNY 9,696,983,032.41, up from CNY 7,324,515,758.37 in the previous year, representing an increase of approximately 32.2%[45] - Net cash flow from operating activities was CNY 107,410,125.50, significantly higher than CNY 16,985,355.55 in 2021[45] - The ending balance of cash and cash equivalents was CNY 992,583,662.26, up from CNY 412,416,508.85 at the end of 2021[47] - The net cash flow from financing activities was CNY 764,642,053.08, compared to a negative CNY 218,340,385.40 in the previous year, indicating a turnaround[47] Inventory and Receivables - As of December 31, 2022, the accounts receivable balance for Furan De Company was RMB 1,466.86 million, with a bad debt provision of RMB 47.37 million, resulting in a net book value of RMB 1,419.49 million[1] - The company reported a decrease in inventory, which fell to RMB 1,219.49 million in 2022 from RMB 1,404.57 million in 2021, a decline of approximately 13.14%[16] - Accounts receivable increased from 1,217,054,239.77 to 1,374,748,518.94, reflecting a growth of about 12.9%[21] Research and Development - Research and development expenses increased to ¥1,884,864.58, a rise of 71.43% from ¥1,099,379.34 in 2021[24] - Research and development expenses rose by 71.45% to CNY 1.88 million, primarily due to increased spending on aluminum die-casting projects[198] Operational Efficiency - The company implemented a Just-In-Time (JIT) supply model to enhance customer responsiveness while maintaining low inventory levels[194] - The company is collaborating with domestic smart production equipment manufacturers to develop advanced intelligent production technologies[194] - The company has established a comprehensive supply chain system that integrates upstream steel and aluminum manufacturers with downstream automotive and home appliance manufacturers[91] Awards and Recognition - The company has been recognized multiple times as one of the top ten steel processing enterprises in China, highlighting its significant industry position[96] - The company received multiple awards, including being recognized as one of the "Top 100 Private Enterprises in Shanghai" and "Top 100 Manufacturing Enterprises in Shanghai" in 2022[157] Corporate Governance - Management is responsible for evaluating the company's ability to continue as a going concern, with disclosures related to ongoing operations and potential uncertainties[6] - The company’s management has confirmed the accuracy and completeness of the annual report, ensuring no false records or misleading statements[79]