Chengdu JOUAV(SH:688070)2023-04-13 16:00Financial Performance - The company reported a profit distribution plan for 2022, which includes no cash dividends, no bonus shares, and no capital reserve transfer to increase share capital [5]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges [4]. - The company's operating revenue for 2022 was CNY 287.31 million, representing a 14.77% increase compared to CNY 250.34 million in 2021 [21]. - The net profit attributable to shareholders for 2022 was a loss of CNY 26.20 million, a decline of 14.24% from a loss of CNY 22.93 million in 2021 [21]. - The cash flow from operating activities for 2022 was a negative CNY 81.26 million, showing a slight improvement of 2.72% compared to a negative CNY 83.53 million in 2021 [21]. - The total assets at the end of 2022 were CNY 949.71 million, an increase of 9.71% from CNY 865.62 million at the end of 2021 [21]. - The total net assets attributable to shareholders at the end of 2022 were CNY 670.03 million, a decrease of 3.63% from CNY 695.24 million at the end of 2021 [21]. - The company's comprehensive gross profit margin was 38.58%, a decrease of about 4.52 percentage points compared to the previous year [33]. - The basic earnings per share for 2022 was CNY -0.30, compared to CNY -0.27 in 2021, reflecting an 11.11% decline [22]. - The company achieved operating revenue of ¥287,307,583.88, an increase of 14.77% compared to the previous year [148]. - The net profit attributable to shareholders was a loss of CNY 26.20 million, an increase in loss of 14.24% compared to the previous year [145]. Risk Management and Governance - The company has detailed various risks and countermeasures in its report, emphasizing the importance of investor awareness regarding these factors [4]. - The audit report issued by Tianjian Accounting Firm confirms the financial statements' accuracy and completeness [5]. - The company has not disclosed any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity [7]. - The company has not violated decision-making procedures for external guarantees, reflecting adherence to governance standards [7]. - The report includes a forward-looking statement risk declaration, cautioning investors about potential uncertainties in future plans [6]. - The company has implemented a comprehensive risk management framework to ensure compliance with regulations and safeguard shareholder interests [195]. - The company is focused on enhancing investor relations management to improve communication with stakeholders [195]. - The company has not engaged in any related party transactions during the reporting period [198]. Research and Development - The R&D expenditure as a percentage of operating revenue was 13.72% in 2022, down from 17.35% in 2021, a decrease of 3.63 percentage points [22]. - Research and development investment totaled 39.43 million yuan, a decrease of 9.21% from the previous year [33]. - The company has increased R&D investment to promote the intelligent, platform-based, and tool-oriented transformation of industrial drones, developing relevant software and hardware systems [101]. - The total R&D investment decreased by 9.21% year-on-year, amounting to ¥39,430,359.72, primarily due to reduced consumption of high-value R&D materials and increased customization costs [108]. - The number of R&D personnel increased to 172, accounting for 26.62% of the total workforce, compared to 149 and 25.04% in the previous period [118]. - The company has developed advanced intelligent flight control technology that reduces flight risks and operational requirements through optimal decision-making and planning [104]. - The company completed the development of several new drone systems, including the CW-15 second-generation police drone and the CW-100 second-generation drone, with ongoing upgrades for CW-25E, CW-25, and CW-40 models [106]. - A total of 7 new invention patents were granted during the reporting period, bringing the total to 55 authorized invention patents [107]. Market and Industry Trends - The industrial drone market is experiencing a growth rate of over 30%, driven by downstream applications and increasing market demand [89]. - The global civil drone market is projected to reach $121 billion by 2031, with a compound annual growth rate (CAGR) of 36.5% in China, reaching approximately 364.35 billion RMB by 2026 [90]. - The demand for comprehensive drone operation services is increasing, with clients seeking long-term contracts for services such as energy inspection and environmental monitoring [97]. - The drone industry is expected to maintain a rapid growth rate of 30% to 50% in 2023, driven by domestic and international economic recovery [184]. - The company is actively pursuing market expansion through collaborations with various domestic listed companies and industry partners to promote industrial UAV applications [37]. - The company aims to strengthen its presence in the electronic governance and enterprise software sectors [200]. Product Development and Innovation - The company has made significant advancements in its unmanned aerial vehicle (UAV) technology, achieving a leading position in the domestic industrial UAV market with core technology advantages in intelligent control and cloud platform integration [40]. - The company has launched a new unattended system, the Zongheng Kunlun JOS-C2000, which enables automated inspections and remote operation, addressing challenges related to operator shortages [52]. - The company has developed a comprehensive cloud management platform for drones, integrating multi-source data for centralized flight data management, significantly improving operational efficiency and decision-making capabilities [41]. - The company has developed an unattended drone system characterized by stability, ease of operation, convenient maintenance, and high operational efficiency [56]. - The company is enhancing its exploration of industrial drone applications through the integration of new technologies like 5G and AI [183]. - The company aims to expand its product line with heavy-lift drones and improve software capabilities for smart city integration, enhancing operational efficiency [184]. Strategic Partnerships and Collaborations - The company has established strategic partnerships with China National Building Materials Information and Henan Aviation Investment Group to enhance its industrial drone applications in emergency, public security, and water conservancy sectors [37]. - The company has established a joint innovation laboratory with the Mianyang Public Security Bureau to expand the application scenarios of police drones [37]. - The company is actively pursuing product upgrades and new technology development to enhance its competitive edge in the evolving market [95]. - The company will deepen strategic partnerships in overseas markets, optimize business models, and enhance service capabilities to improve response efficiency [187]. Operational Efficiency and Cost Management - The company has focused on optimizing its organizational structure and enhancing financial management capabilities to improve operational efficiency [38]. - The company has implemented an agile R&D system to ensure continuous innovation and timely market response, enhancing product development efficiency [87]. - The company aims to strengthen its market development efforts in both civilian and defense sectors to mitigate potential risks in 2023 [126]. - The company has implemented a customer relationship management system to better understand customer needs and improve satisfaction and loyalty [187]. - The company has established a comprehensive drone service system for urban management, including a drone scheduling and command service to improve emergency response capabilities [79]. Human Resources and Talent Management - Total compensation for R&D personnel reached RMB 32.75 million, up from RMB 25.44 million, with an average salary of RMB 19.04 thousand, compared to RMB 17.08 thousand previously [118]. - The company will strengthen its talent recruitment and training programs to build a reliable and capable workforce, enhancing overall management efficiency [189]. Shareholder and Management Information - The company held one shareholders' meeting in 2022, approving 25 proposals without any rejections [195]. - The total remuneration for the chairman and general manager, 任斌, was 602,400 CNY, with no change in shareholding during the year [198]. - The total remuneration for the vice chairman and general manager, 王陈, was 474,100 CNY, with no change in shareholding during the year [198]. - The company continues to maintain a stable governance structure with no changes in key management personnel's shareholdings [198].