KSHG(SH:605333)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was approximately CNY 3.28 billion, representing a 33.91% increase compared to CNY 2.45 billion in 2021[18]. - The net profit attributable to shareholders for 2022 was CNY 41.07 million, a significant recovery from a loss of CNY 1.06 million in 2021[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31.80 million, compared to a loss of CNY 2.46 million in the previous year[18]. - The total assets of the company at the end of 2022 reached CNY 4.48 billion, an increase of 53.36% from CNY 2.92 billion at the end of 2021[18]. - The net assets attributable to shareholders increased by 97.75% to CNY 1.49 billion at the end of 2022, up from CNY 751.39 million at the end of 2021[18]. - The company achieved a total revenue of 327,789.05 million RMB in 2022, representing a year-on-year growth of 33.91%[47]. - The net profit attributable to shareholders reached 4,106.63 million RMB, a significant increase of 3988.03% compared to the previous year[47]. - The total assets as of December 31, 2022, amounted to 448,485.91 million RMB, reflecting a 53.36% increase from the previous year[47]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of approximately -CNY 237 million in 2022, worsening from -CNY 209 million in 2021[18]. - The company plans not to distribute cash dividends or issue bonus shares for the 2022 fiscal year, considering industry conditions and funding needs[4]. - Cash and cash equivalents at the end of the period amounted to ¥272,896,205.79, representing 6.08% of total assets, a decrease from 7.57% in the previous period[67]. - The company’s net assets attributable to shareholders increased by 97.75% to 148,590.08 million RMB by the end of 2022[47]. Market and Production - The company focused on expanding its market share in new energy high-voltage harnesses and optimizing customer/product structure[30]. - The company secured supplier qualifications for major automotive manufacturers, including Great Wall Motors and Volvo, to participate in new project bids[30]. - In 2022, the company achieved mass production for several projects, including low-voltage harnesses for traditional fuel vehicles and high-voltage harnesses for new energy vehicles[30]. - The domestic passenger car market saw production and sales of 23.83 million and 23.56 million units, respectively, with year-on-year growth of 11.2% and 9.5%[28]. - The company benefited from the recovery of the passenger car industry and the rapid growth of new energy vehicles, leading to improved profitability[28]. - The company aims to leverage its R&D and production advantages to capture opportunities in the new energy vehicle market, enhancing its market share[41]. Research and Development - Research and development expenses rose to 161,743.17 million RMB, marking a 31.77% increase year-on-year as the company invested in new projects and technologies[48]. - The company has significantly increased its R&D personnel to support new projects and technology development, enhancing its competitive position in the automotive harness sector[64]. - The company is investing in the construction of a smart factory in Kunshan to enhance production efficiency and integrate digital technologies[87]. Corporate Governance and Compliance - The company has received a standard unqualified audit opinion from its accounting firm, ensuring the accuracy and completeness of the financial report[3]. - The board of directors and supervisory board operate independently, ensuring no interference from the controlling shareholder[99]. - The company emphasizes transparency and timely information disclosure to all stakeholders[99]. - The company has implemented measures to ensure the independence of its operations from the controlling shareholder[100]. Share Issuance and Ownership - The company raised a total of RMB 703 million through a private placement of 35,776,081 shares at RMB 19.65 per share, which will help optimize its capital structure and reduce debt ratio[36]. - The total number of shares increased from 401,000,000 to 436,776,081 after the issuance[170]. - The largest shareholder, Cheng Sanrong, holds 262,000,000 shares, representing 59.98% of the total shares[179]. - The second largest shareholder, Jin Chengcheng, holds 65,500,000 shares, accounting for 15.00% of the total shares[179]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies, advising investors to be cautious[5]. - The company is actively working to mitigate risks associated with raw material price fluctuations, particularly copper, by implementing price adjustment mechanisms with clients[92]. Environmental and Social Responsibility - The company invested CNY 68.87 million in environmental protection during the reporting period[133]. - The company implemented carbon reduction measures that resulted in a decrease of 3,190 tons of CO2 equivalent emissions[136]. - The total contribution for public welfare projects was CNY 21.78 million during the reporting period[137]. Future Outlook - The company anticipates a 3% year-on-year increase in total domestic automotive sales in 2023, with new energy vehicles expected to reach 9 million units, growing 35%[90]. - The company provided guidance for 2023, projecting revenue growth of 15% to 1.725 billion, driven by new product launches and market expansion efforts[104].