Endovastec(SH:688016)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was ¥896,500,382.30, representing a 30.95% increase compared to ¥684,630,746.64 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥356,878,470.69, a 12.99% increase from ¥315,855,662.84 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥323,794,022.99, up 12.25% from ¥288,456,561.60 in 2021[21]. - The net cash flow from operating activities for 2022 was ¥333,760,799.77, an increase of 11.16% compared to ¥300,252,679.31 in 2021[21]. - The total assets at the end of 2022 were ¥1,995,118,702.47, reflecting a 13.77% increase from ¥1,753,572,372.53 at the end of 2021[21]. - The net assets attributable to shareholders increased by 15.02% to ¥1,718,668,312.38 at the end of 2022, compared to ¥1,494,285,442.34 at the end of 2021[21]. - The basic earnings per share increased to 4.96 yuan, reflecting a growth of 12.98% year-on-year[22]. - The company's main business gross margin decreased to 75.18% in 2022 from 78.05% in 2021, indicating a decline influenced by product structure changes and raw material price fluctuations[103]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 23.00 per 10 shares, totaling approximately RMB 165.55 million, which represents 46.39% of the net profit attributable to shareholders for 2022[5]. - The company will not conduct capital reserve transfers or issue bonus shares as part of its profit distribution plan[5]. - The company has not proposed any capital reserve transfer to increase share capital or stock dividends for the reporting period[197]. Research and Development - The R&D investment accounted for 19.22% of operating revenue, up by 1.18 percentage points from the previous year[22]. - The company reported a total R&D investment of ¥172,266,482.27, an increase of 39.51% compared to the previous year, accounting for 19.22% of operating revenue[75]. - The company submitted a total of 166 patent applications and received 80 new patent authorizations, bringing the total authorized patents to 249 as of December 31, 2022[33]. - The company has increased incentives for research and development personnel to attract more talent in this area[193]. - The company has developed a range of innovative medical devices, including a drug-coated balloon catheter and a multi-branch thoracic aortic stent, enhancing its product portfolio[87]. Market Expansion and Strategy - The company is focused on expanding its market presence and developing new products and technologies[20]. - The company plans to further develop its international market presence while maintaining product influence domestically[30]. - The company aims to improve operational efficiency and increase market share through targeted strategies[20]. - The company is exploring potential acquisitions to strengthen its product portfolio and market position[167]. - The company plans to expand its marketing network to enhance market share and product penetration, particularly in county-level hospitals in China[148]. Risks and Challenges - The company has detailed potential risks in its report, emphasizing the importance of investor awareness regarding future plans and strategies[6]. - The company faces risks related to the loss of core technical personnel, which could impact its ability to maintain technological leadership in the industry[94]. - The company operates in a highly competitive market, with significant pressure from multinational competitors like Medtronic and Boston Scientific, which could affect market share and profit margins[96]. - The company is exposed to procurement risks for essential raw materials, which could lead to increased costs and supply chain disruptions if domestic suppliers face difficulties[99]. Governance and Management - The company has a clear governance structure with specialized committees, including a strategy and development committee, audit committee, and nomination committee[155]. - The company held 10 board meetings throughout the year, all convened by the chairman[155]. - The supervisory board conducted 7 meetings during the reporting period, all chaired by the supervisory board chairman[157]. - The company has implemented a performance-oriented compensation policy, including project bonuses and performance bonuses, to align employee interests with corporate performance[193]. - The company maintains independence from its controlling shareholder in terms of business operations, assets, and financial management[155]. Employee and Workforce - The total number of employees reached 786, with a net increase of 126 employees, representing a growth rate of 19.09%[36]. - The company has 223 R&D personnel, making up 28.37% of the total workforce, with 60.10% of R&D staff holding master's degrees or higher[36]. - The average age of key personnel is around 41 years, indicating a balance of youth and experience[165]. - The company has a total of 9 doctoral graduates and 153 master's graduates among its employees[192]. Future Outlook - Future guidance indicates continued growth in revenue and profitability as the company leverages its innovative solutions[20]. - The company provided a positive outlook for the next fiscal year, projecting revenue growth of 20% to $600 million[167]. - The company plans to increase production capacity to meet growing market demand and optimize production processes to reduce costs[149]. - The company aims to enhance its core competitiveness and profitability by focusing on R&D, technology, manufacturing, and market expansion, with a goal of maintaining healthy growth in revenue and performance[145].