Union Precision(SH:688210)2023-04-19 16:00Financial Performance - The company achieved a revenue of 508 million yuan in 2022, representing a growth of 43.47% compared to the previous year[4]. - Net profit attributable to shareholders reached 94.35 million yuan, an increase of 98.90% year-on-year; net profit after deducting non-recurring gains and losses was 72.39 million yuan, up 73.65%[4]. - The cash flow from operating activities was 130 million yuan, reflecting a year-on-year growth of 64.94%[4]. - The company's operating revenue for 2022 reached ¥508,643,174.16, representing a 43.47% increase compared to ¥354,533,625.45 in 2021[25]. - Net profit attributable to shareholders for 2022 was ¥94,354,081.76, a significant increase of 98.90% from ¥47,437,301.23 in the previous year[25]. - The net cash flow from operating activities for 2022 was ¥130,481,037.89, up 64.94% from ¥79,107,472.71 in 2021[25]. - Basic earnings per share increased by 50.00% to CNY 0.84, and diluted earnings per share rose by 46.43% to CNY 0.82[26]. - The company's operating revenue increased by 43.47% compared to the previous year, driven by the expansion of CNC, laser processing, and precision injection molding capabilities to meet diverse customer demands for precision components[26]. Revenue Breakdown - MIM precision structural components generated revenue of 333 million yuan, accounting for 65.54% of total sales, with a growth of 24.18%[5]. - Non-MIM precision components achieved revenue of 164 million yuan, representing 32.29% of total sales, and a significant increase of 108.72%[5]. - MIM precision components achieved revenue of 333.73 million yuan, a year-on-year increase of 24.18%[39]. - Non-MIM precision components, including laser processing, CNC, and precision injection molding, generated revenue of 164.22 million yuan, a year-on-year increase of 108.72%[39]. Research and Development - The company maintained a research and development investment ratio of 11.91% of operating revenue, reflecting a slight increase of 0.19 percentage points[26]. - R&D investment reached 60.56 million yuan, an increase of 45.77% compared to the previous year[40]. - The company has completed 29 R&D projects during the reporting period, with total investment amounting to ¥49,686,019.84[73]. - The company has achieved precision mold manufacturing accuracy of ±0.003mm, utilizing advanced techniques such as high-speed milling and zero-loss EDM[59]. - The company has patented technologies for customized product development, including self-riveting structures and flexible positioning for injection molding[60]. - The company has focused on enhancing its independent innovation capabilities by recruiting and training excellent R&D personnel[65]. Market Expansion and Strategy - The company plans to continue expanding its market presence and invest in new technologies and products[18]. - The company is actively expanding its product applications into new areas, including automotive and electronic cigarette components[45]. - Future guidance suggests continued growth in revenue and profitability driven by strategic initiatives and market expansion[18]. - The company plans to implement an "going out" strategy to establish overseas production bases, enhancing service efficiency and market expansion[133]. - In 2023, the company will focus on expanding product applications in sectors such as foldable smartphones and new energy vehicles, aiming for rapid revenue conversion[135]. Governance and Compliance - The company has established a robust internal control system, revising multiple management regulations to enhance governance and compliance[145]. - The company has implemented a governance structure that includes a general meeting of shareholders, a board of directors, a supervisory board, and senior management, promoting checks and balances[143]. - The company has complied with the Corporate Governance Code and other relevant regulations, ensuring no significant discrepancies in governance practices[146]. - The company emphasizes the importance of timely and accurate information disclosure to protect shareholder rights[198]. Financial Management - The company implemented a foreign exchange hedging management system to mitigate exchange rate risks and improve the efficiency of idle funds[43]. - The company reported a significant increase in financial income due to effective management of idle funds and foreign exchange gains[90]. - The company plans to improve financial risk management by utilizing financial tools to enhance the efficiency of idle funds and mitigate exchange rate risks[141]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 1,054, with 757 in production, 188 in technical roles, and 13 in sales[174]. - The company has implemented a restricted stock incentive plan for key employees, aiming to enhance retention and motivation[175]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 4.9509 million RMB[162]. - The company has established a remuneration and assessment committee responsible for setting compensation standards and evaluating the performance of directors and senior management[194]. Environmental and Social Responsibility - The company invested 2.7847 million yuan in environmental protection funds during the reporting period[199]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[200]. - The company is committed to sustainable development by balancing interests among shareholders, employees, customers, suppliers, and the environment[198].