CRCHI(SH:688425)2023-03-30 16:00Financial Performance - The company plans to distribute a cash dividend of 1.04 RMB per 10 shares, totaling approximately 554.68 million RMB, which accounts for 30.08% of the net profit attributable to shareholders for 2022[5]. - The company has not achieved profitability since its listing, indicating ongoing challenges in financial performance[3]. - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[4]. - The company's operating revenue for 2022 was CNY 1,010,154.78 million, representing a 6.14% increase from CNY 951,728.67 million in 2021[19]. - The net profit attributable to shareholders for 2022 was CNY 184,414.78 million, a 6.26% increase compared to CNY 173,549.30 million in 2021[19]. - The net cash flow from operating activities improved to CNY 107,072.24 million in 2022, recovering from a negative cash flow of CNY -148,408.77 million in 2021[19]. - The total assets of the company at the end of 2022 were CNY 2,378,664.65 million, a 4.94% increase from CNY 2,266,582.53 million at the end of 2021[19]. - The company achieved a record of 416.6 km/h with its independently developed high-speed turnout on the Shanghai-Hangzhou high-speed railway[41]. - The company reported a gross margin of 33.93% for its main business, an increase of 1.93 percentage points year-on-year[70]. - The company reported a significant increase in revenue, achieving a total of 10 billion yuan for the fiscal year, representing a 15% year-over-year growth[112]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 9.19% in 2022, up from 7.12% in 2021, indicating a focus on innovation[20]. - The company has 1,500 R&D personnel, representing 30.49% of the total workforce, with an average salary of ¥23.71 million, up from ¥20.42 million last year[54]. - R&D expenses totaled ¥928.42 million this year, a 37.03% increase from ¥677.54 million last year, with R&D expenses as a percentage of revenue rising by 2.07 percentage points to 9.19%[45][46]. - The company’s R&D model focuses on original and integrated innovation, collaborating closely with universities and research institutions to enhance innovation efficiency[35]. - The company achieved breakthroughs in key technologies, including the dual-mode cutter head and the first domestic intelligent rapid tunneling and anchoring equipment, marking significant advancements in mining equipment[39]. - The company has developed several groundbreaking technologies, including the first domestically produced rock tunnel boring machine and the largest diameter shield machine in China, enhancing its competitive edge in major engineering projects[58]. Market Position and Strategy - The company ranked 30th among the top 50 global construction machinery manufacturers in 2022, maintaining its position as the largest tunnel engineering equipment manufacturer globally[27]. - The company achieved a significant increase in overseas contracts, with a growth rate of 74.47% in 2022 compared to the previous year[28]. - The company is focusing on expanding its market presence and enhancing product value through automation and digitalization in response to industry trends[88]. - The company aims to enhance its "innovation-type, service-type" business model, focusing on differentiated, intelligent, and global development strategies[96]. - The company is actively expanding its market presence internationally, with notable successes in Chile, India, Turkey, and Russia for its tunneling machinery products[97]. - The company has set ambitious targets for international expansion, particularly in emerging markets, to diversify its revenue streams[110]. Corporate Governance and Compliance - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[6]. - There are no special arrangements for corporate governance that apply to the company[7]. - The company has confirmed that all board members attended the board meeting, ensuring collective responsibility for the report's accuracy[7]. - The company has established a risk management system to enhance efficiency and effectiveness in financial, quality, and safety risk prevention[57]. - The company has implemented strict compliance with information disclosure regulations to ensure transparency and timeliness[171]. - The company has established a comprehensive internal control system to enhance risk management and compliance[142]. Environmental and Social Responsibility - The company invested RMB 2,076.76 million in environmental protection measures during the reporting period[144]. - The total carbon dioxide emissions for the reporting period were 9,125.4 tons, a year-on-year decrease of 3.9%[147]. - The company has actively engaged in social responsibility activities, protecting the rights of shareholders, creditors, and employees[144]. - The company launched the world's first pure electric plateau-type fully computer-controlled three-arm rock drilling rig, which can save over 100,000 in energy costs annually and reduce carbon emissions by 30 tons per unit[153]. Shareholder Relations and Remuneration - Total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to CNY 27.51 million[120]. - The company has implemented a salary policy that links total salary growth to company performance, with a performance-based salary system for employees[134]. - The company has committed to distributing at least 10% of the annual distributable profit in cash if there are no major investment plans or cash expenditures[137]. - The company has maintained a cash dividend policy that emphasizes reasonable returns to investors while ensuring long-term sustainability[137]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming to reach $1.875 billion[114]. - The company plans to implement new marketing strategies aimed at increasing brand awareness and customer engagement by 40%[112]. - The company aims to enhance construction efficiency and reduce risks through the development of intelligent equipment for high-altitude blasting tunnel construction[50]. - The company plans to adjust its operational plans based on industry and market conditions, indicating flexibility in its strategy[98].