FJR(SH:688272)2023-06-13 16:00Financial Performance - In 2022, the company's operating revenue decreased significantly from 144.0681 million yuan to 110.8911 million yuan, with a net profit attributable to shareholders of the parent company at -87.6414 million yuan[4]. - The company's net profit after deducting non-recurring gains and losses also showed a loss, indicating a challenging financial year due to slow order signing and delivery progress[4]. - The company is at risk of delisting as its audited net profit was negative and operating revenue fell below 100 million yuan, which violates the Shanghai Stock Exchange's listing rules[4]. - The proposed profit distribution plan for 2022 is to not distribute profits or increase capital reserves due to the financial losses incurred[6]. - The company's operating revenue for 2022 was ¥110,891,094.70, a decrease of 65.12% compared to ¥317,927,242.89 in 2021[21]. - The net profit attributable to shareholders was -¥87,641,440.52, representing a decline of 214.65% from ¥76,443,601.71 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was -¥93,194,847.19, down 241.19% from ¥66,005,689.75 in 2021[21]. - The company's total assets decreased by 5.82% to ¥748,961,427.23 from ¥795,255,000.45 in 2021[21]. - The basic earnings per share for 2022 was -¥1.15, a drop of 190.55% from ¥1.27 in 2021[22]. - The weighted average return on net assets was -13.90%, a decrease of 36.91 percentage points from 23.01% in 2021[22]. - The decline in revenue was attributed to economic downturns and delays in military procurement plans, leading to reduced order demand[23]. - The net cash flow from operating activities was -¥97,385,180.55, compared to -¥86,239,617.32 in 2021[21]. - The gross profit margin dropped from 52.69% in 2021 to 31.90% in 2022, indicating increased cost pressures and market competition[129]. - The company reported a significant decrease in financing cash flow, down 96.00% to 14,273,581.46 RMB, primarily due to last year's fundraising activities[156]. Research and Development - Research and development expenses accounted for 43.68% of operating revenue, an increase of 31.59 percentage points from 12.09% in 2021[22]. - The company increased R&D investments to explore new product markets and actively participated in military project bidding, resulting in higher expenses[23]. - R&D expenses amounted to 48.43 million yuan, accounting for 43.68% of operating revenue, with a year-on-year increase of 25.99%[34]. - The company added 8 new patents and 1 new software copyright in 2022, bringing the total to 70 effective authorized patents[34]. - The company has developed core technologies for the infrared panoramic radar, including the high-precision rotating platform and intelligent alarm technology[50]. - The company has developed multiple core technologies in the field of infrared thermal imaging, achieving key performance indicators that are at or near international advanced levels[70]. - The company has developed a new generation of vehicle auxiliary driving night vision imaging technology, integrating uncooled infrared thermal imaging sensors and low-light solid-state micro-light sensors for multi-spectral imaging capabilities[80]. - The company has filed for 20 new patents during the reporting period, including 5 invention patents and 8 utility model patents[83]. - The company is focusing on the development of advanced algorithms to improve image clarity and performance, addressing the increasing demands for automation in target detection and recognition[75]. Market and Competitive Position - The company aims to stabilize supply channels and reverse competitive trends in the context of declining prices for downstream products[32]. - The infrared thermal imaging industry is experiencing rapid growth, with increasing applications in both military and civilian sectors due to advancements in technology and decreasing costs[59]. - The company is positioned in a rapidly developing industry, with a significant reduction in reliance on imported products due to the rise of domestic infrared enterprises[60]. - The military market for infrared thermal imaging products is substantial, with high demand for reliability and performance, particularly in developed countries[60]. - The domestic civil infrared thermal imaging market is projected to reach $4.113 billion in 2023, with a compound annual growth rate (CAGR) of approximately 18.61% from 2020 to 2023[63]. - The company is actively expanding its presence in the civil market, focusing on applications in industrial temperature measurement, gas detection, and security monitoring[69]. - The company is committed to innovation through integrated technology, enhancing its product offerings in both military and civil sectors[69]. - The company is focused on expanding its market presence through new product development and technological advancements, targeting various applications including airborne, marine, and automotive sectors[93][94][96]. Governance and Compliance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring compliance with regulations[8]. - The company has not violated decision-making procedures for external guarantees, maintaining governance integrity[8]. - The financial report received a standard unqualified audit opinion from the accounting firm, indicating reliability in the financial statements[5]. - The company emphasizes the importance of rational investment and risk awareness in its forward-looking statements regarding future plans and strategies[7]. - The company has established an internal control system to enhance risk prevention capabilities and operational standards in accordance with national requirements[183]. - The company has complied with all relevant regulations regarding information disclosure, ensuring transparency and accuracy[177]. - There were no significant differences in corporate governance compared to the regulations set by the China Securities Regulatory Commission[178]. Operational Challenges - The company faces various operational risks, including a significant decline in performance and potential delisting risks, which investors should be particularly aware of[4]. - The company relies on external procurement for key components such as detectors and high-end lenses, which poses a supply chain risk[125]. - The company faces risks related to supplier relationships, particularly for critical components like detectors and lenses, which could impact production and costs[126]. - The company is actively working to optimize its talent management and recruitment strategies to mitigate risks associated with talent shortages as it expands[127]. - The company is focusing on integrating infrared and visible light sensors to improve the functionality of its handheld observation instruments[102]. Investment and Future Plans - The company aims to enhance its imaging technology by expanding into solid-state micro-light, short-wave, ultraviolet, and visible light areas over the next three to five years[168]. - The company plans to deepen its focus on military and professional markets to increase market share and brand awareness[170]. - The company intends to invest more resources in research and development to create products suitable for civilian and general markets, ensuring competitive advantages[170]. - The company will establish a professional R&D team and strengthen collaborations with academic and research institutions to improve R&D efficiency[170]. - The company plans to complete the development of an 8-10 km laser rangefinder, with a total investment of 350.00 million CNY and 170.09 million CNY invested so far[91].