SBT(SH:688392)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was CNY 522,489,445.99, representing a year-on-year increase of 40.97% due to the growing demand for equipment in the domestic new energy battery industry[25]. - The net profit attributable to shareholders for 2022 was CNY 110,770,351.96, reflecting a year-on-year growth of 59.95%[25]. - The net cash flow from operating activities for 2022 was CNY 4,041,676.87, showing a significant increase of 113.22% compared to the previous year[25]. - As of the end of 2022, the net assets attributable to shareholders were CNY 1,752,307,252.77, up 413.53% from the end of 2021[25]. - The total assets at the end of 2022 reached CNY 2,143,098,439.79, an increase of 239.33% year-on-year[25]. - Basic earnings per share for 2022 were CNY 1.66, a 37.19% increase from the previous year[26]. - The weighted average return on equity for 2022 was 15.37%, a decrease of 15.93 percentage points compared to 2021[24]. - The company achieved total operating revenue of 522.49 million yuan, a year-on-year increase of 40.97%[35]. - The net profit attributable to shareholders reached 110.77 million yuan, representing a year-on-year growth of 59.95%[35]. - The gross margin for the main business increased to 52.05%, up 2.97 percentage points year-on-year[108]. Research and Development - The company’s R&D expenditure accounted for 14.26% of its operating revenue in 2022, an increase of 1.91 percentage points from the previous year[25]. - Research and development investment amounted to 74.53 million yuan, a 62.80% increase year-on-year, accounting for 14.26% of total operating revenue[37]. - The company holds 279 valid authorized patents, including 53 invention patents and 58 software copyrights[37]. - The company has developed core technologies in ultrasonic equipment, including integrated wedge welding technology and ultrasonic metal welding quality monitoring technology, achieving international advanced levels[68]. - The company has established a specialized non-standard design team to meet customized requirements for battery manufacturers, enhancing its competitive edge[88]. - The company plans to invest in research and development to drive innovation and maintain market leadership[157]. Corporate Governance - The company has received a standard unqualified audit report from the accounting firm Rongcheng[5]. - The company’s financial report has been confirmed as true, accurate, and complete by its management team[6]. - The company does not have any special arrangements for corporate governance[9]. - The company has established a comprehensive internal control system and governance structure, ensuring compliance with legal regulations and enhancing transparency in information disclosure[39]. - The company held one shareholders' meeting and eight board meetings during the reporting period, ensuring compliance with governance requirements[150][151]. - The company maintained compliance with the information disclosure regulations, ensuring accurate and complete information dissemination to stakeholders[152]. Market Position and Strategy - The company is focusing on the development of new technologies and products in ultrasonic applications, particularly in the automotive and battery sectors[36]. - The company is deepening its market expansion in the renewable energy sector, responding to increased demand for ultrasonic equipment driven by leading enterprises in the industry[38]. - The company has established partnerships with leading domestic power battery manufacturers, including CATL and BYD, which accounted for 71.65% of the total installed capacity in China's power battery market in 2022[62]. - The company is enhancing its sales team and technical service capabilities to improve market share and customer satisfaction[38]. - The company is actively pursuing mergers and acquisitions to bolster its competitive position in the market[157]. Risks and Challenges - The company has outlined potential risks in its report, advising investors to be cautious regarding investment risks[4]. - The company has not achieved profitability since its listing[4]. - The company faces risks related to technological changes and product development in the battery and tire manufacturing sectors, which require continuous R&D investment[91]. - The company acknowledges the risk of intellectual property infringement due to the competitive landscape in the ultrasonic equipment manufacturing industry[93]. - The company faces competition from established foreign brands in high-end industrial applications, indicating a need for technological advancements to capture market share[142]. Employee and Compensation - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to RMB 438.10 million[164]. - The total remuneration for core technical personnel at the end of the reporting period was RMB 233.01 million[164]. - The employee structure includes 205 production and procurement personnel, 178 sales personnel, and 198 R&D personnel, indicating a strong focus on production and innovation[175]. - The company has established a competitive compensation structure that links employee salaries to company performance and individual achievements[176]. - The average salary of R&D personnel increased to 198,243.08 RMB, reflecting the company's investment in talent[83]. Environmental, Social, and Governance (ESG) - The company emphasizes ESG management, integrating environmental and social responsibilities into its daily operations[187]. - The company invested 27.37 million yuan in environmental protection during the reporting period[189]. - The company does not belong to the key pollutant discharge units as published by the environmental protection department[190]. - The company donated 10 million yuan to the Shanghai Jiangchuan Community Development Foundation to support community education initiatives[200]. - The company adheres to strict waste management practices, ensuring hazardous waste is handled by qualified entities[194]. Future Outlook - Future guidance indicates a strong growth trajectory, with expectations for continued revenue increases in the upcoming quarters[157]. - The company plans to continue monitoring new technologies and trends in ultrasonic applications to maintain its leading position in the industry[67]. - The company aims to deepen the application of ultrasonic technology in the new energy sector and other industries, including semiconductors and medical fields, to promote sustainable growth[145].