OKE(SH:688308)2023-04-11 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,055,322,742.17, representing a 6.56% increase compared to ¥990,388,668.41 in 2021[23]. - The net profit attributable to shareholders for 2022 was ¥242,084,486.35, an increase of 8.94% from ¥222,222,319.07 in 2021[23]. - The net profit after deducting non-recurring gains and losses was ¥224,617,727.61, which is a 14.86% increase from ¥195,561,809.53 in 2021[23]. - The company's total assets at the end of 2022 were ¥3,172,547,291.83, a 64.13% increase from ¥1,932,960,339.85 at the end of 2021[23]. - The net assets attributable to shareholders increased by 65.11% to ¥2,467,547,203.59 from ¥1,494,482,043.59 in 2021[23]. - Basic earnings per share for 2022 were ¥2.40, an increase of 8.11% from ¥2.22 in 2021[24]. - The weighted average return on equity for 2022 was 14.69%, a decrease of 1.2 percentage points from 15.89% in 2021[24]. - The net cash flow from operating activities for 2022 was ¥172,884,155.72, reflecting an 8.37% increase from ¥159,532,716.57 in 2021[23]. - The company's CNC tool products generated revenue of CNY 642.66 million in 2022, marking a 41.18% increase year-on-year, with a gross margin of 47.52%[35]. - The sales volume of CNC tools reached 9.90 million pieces, an increase of approximately 28.42% compared to the previous year, with an average selling price of CNY 6.49, up 10%[35]. Research and Development - The company invested CNY 52.97 million in R&D during the reporting period, with 46 projects initiated, and obtained 24 new domestic patents[36]. - The company's R&D expenditure as a percentage of operating revenue was 5.02%, up from 4.95% in 2021[24]. - The total R&D investment for the year was approximately ¥52.97 million, representing an increase of 8.15% compared to the previous year, with R&D investment accounting for 5.02% of operating revenue[59]. - The company has developed multiple core technologies, including substrate material design, blade structure design, precision control, and coating design, enhancing its competitive edge in the market[55]. - The company has obtained 24 domestic authorized patents and filed 28 new patent applications during the reporting period, bringing the total number of authorized patents to 115[57]. - The company is committed to ongoing R&D innovation, focusing on fundamental material technologies such as metal ceramics and superhard materials[55]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance[8]. - The board of directors has confirmed the attendance of all members at the board meeting[5]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[7]. - The company has maintained a transparent and compliant decision-making process regarding dividend distribution, ensuring the protection of minority shareholders' rights[163]. - The independent directors and supervisory board have approved the profit distribution plan, which will be implemented after approval at the annual shareholders' meeting[162]. - The company has established a robust corporate governance structure to ensure effective checks and balances between regulatory bodies and management[200]. Market Position and Strategy - The company ranks first in the domestic market for saw blades and second in CNC blade production, showcasing its strong market position[52]. - The company aims to enhance its comprehensive service capabilities, transitioning from a tool supplier to a key partner in providing overall machining solutions[54]. - The company is positioned to benefit from the ongoing shift towards high-end manufacturing and smart manufacturing, with expectations for rapid business expansion[52]. - The company aims to increase market share of key products and expand domestic and international market channels, targeting regions like Europe, North America, Southeast Asia, and North Africa[121]. - The company is focusing on market expansion and new product development to enhance its competitive position in the industry[63]. Environmental Responsibility - The company is committed to carbon neutrality and has integrated this goal into its long-term development strategy[181]. - The company has invested in high-cost wastewater treatment facilities at each site, ensuring wastewater meets the third-level discharge standards before being released into the municipal network[190]. - The company has implemented measures to reduce electricity consumption, including seasonal control of air conditioning and centralized production scheduling[190]. - The company has established a waste management system to minimize pollution and promote recycling, including a dedicated hazardous waste storage facility[191]. - The company has adopted energy-saving measures, such as peak-shaving electricity production and optimizing equipment usage, which are expected to save up to 40% in energy consumption[193]. Financial Management - The company's cash and cash equivalents at the end of the period reached 551.04 million RMB, up from 189.12 million RMB, marking a 191.38% increase[105]. - The net cash flow from financing activities was ¥834,411,494.79, a significant increase compared to the previous year's negative cash flow[83]. - The company has a sound financial management system, with high asset quality and a reasonable asset composition[200]. - The company has maintained a strong credit reputation, with no instances of overdue bank loans in its history[200]. - The company has made sufficient and reasonable provisions for asset impairment, reflecting actual asset quality[200]. Shareholder Engagement - The company plans to distribute cash dividends of RMB 7 per 10 shares, totaling approximately RMB 78.83 million, which accounts for 32.56% of the net profit attributable to shareholders[5]. - The company has outlined a three-year dividend return plan for shareholders from 2022 to 2024[127]. - The company held 2 shareholder meetings during the reporting period, with all proposals approved and no rejected resolutions[128]. - The company’s board meetings have addressed multiple key reports, including the annual financial report and profit distribution proposals[142]. - The company has a commitment to invest in technology innovation as part of its fundraising efforts[142]. Operational Risks - The company has outlined various operational risks and corresponding mitigation measures in the management discussion section[4]. - The company has not yet achieved profitability since its listing[4]. - The company is exposed to raw material price fluctuations, particularly tungsten carbide, which constitutes approximately 86% of its raw materials[77]. - The company faces significant competition from both domestic and international firms in the CNC tool manufacturing sector, which may impact its market share if it fails to maintain its competitive advantages[76]. - The company has a diverse customer base, but it faces risks related to accounts receivable and potential bad debts if major clients experience financial difficulties[78].