Changzhou Fusion New Material (SH:688503)2023-04-19 16:00Financial Performance - Jinko Solar reported a total revenue of $1.5 billion for the fiscal year 2022, representing a year-over-year increase of 25%[15]. - The company reported a net income of $150 million for 2022, a significant increase from $100 million in 2021, reflecting strong operational performance[15]. - The company's operating revenue for 2022 was CNY 6,504,210,608.17, representing a 27.94% increase compared to CNY 5,083,929,870.79 in 2021[26]. - The net profit attributable to shareholders for 2022 was CNY 391,207,701.49, a 58.53% increase from CNY 246,776,096.83 in 2021[26]. - The company achieved a revenue of 6.50 billion RMB in 2022, representing a year-on-year increase of 27.94%[96]. - The net profit attributable to shareholders was 391 million RMB, up 58.53% compared to the previous year[96]. Shareholder Returns - The company plans to distribute a cash dividend of 5.38 CNY per 10 shares, totaling approximately 60.21 million CNY, which represents 15.39% of the net profit attributable to shareholders[7]. - The proposed cash dividend is RMB 5.38 per 10 shares, totaling RMB 60,207,974.89, which represents 15.39% of the net profit attributable to shareholders[182]. - The cash dividend payout ratio is set at 15.39% of the net profit attributable to shareholders, reflecting a commitment to returning value to investors[186]. Capital Structure - The company intends to increase its total share capital by 53.72 million shares through a capital reserve conversion, raising the total share capital to approximately 165.63 million shares[7]. - The company plans to increase its total share capital by 53,717,152 shares through a capital reserve conversion, resulting in a new total of 165,627,886 shares[182]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[10]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[11]. - The company has not violated any decision-making procedures regarding external guarantees[11]. - The company has not faced any issues with a majority of directors being unable to ensure the authenticity of the annual report[12]. - The company faces risks related to fluctuations in raw material prices, particularly silver powder, which could impact operating performance if not managed properly[86]. Audit and Governance - The company received a standard unqualified audit report from its accounting firm, indicating the financial statements' accuracy and completeness[6]. - The company has not experienced any changes in its governance structure that would affect the annual report's integrity[9]. - The company emphasizes strict adherence to internal control systems and governance structures to enhance operational efficiency and profitability[189]. - The company has established a modern corporate governance structure, including specialized committees to ensure effective decision-making[193]. Research and Development - The company is investing in R&D for new technologies, including TOPCon and PERC solar cells, aiming to enhance efficiency and reduce costs[15]. - The company achieved a total R&D investment of approximately ¥214.39 million in 2022, representing a 33.50% increase compared to ¥160.59 million in the previous year[65]. - Research and development expenses accounted for 3.30% of operating revenue, an increase of 0.14 percentage points[28]. - The company filed 15 new invention patent applications and obtained 24 new patents during the reporting period, bringing the total number of authorized patents to 330[63]. - The company is focusing on developing new materials and technologies to meet the evolving demands of the solar energy market[58]. Market Expansion - Jinko Solar plans to expand its production capacity to 40 GW of solar cells and modules by the end of 2023, up from 30 GW in 2022[15]. - The company has entered into strategic partnerships to enhance its market presence in Europe and North America, targeting a 15% market share in these regions by 2025[15]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[154]. - The company is exploring potential acquisitions to enhance its market position, with a budget of $100 million allocated for this purpose[153]. Environmental Responsibility - The company is committed to environmental responsibility, actively implementing measures to reduce pollutant emissions and enhance waste management[192]. - The company invested 1.2146 million yuan in environmental protection during the reporting period[195]. - The company is implementing clean energy initiatives and smart manufacturing technologies to reduce energy consumption[198]. Employee Management - The company has established a salary system based on job analysis and position grading, ensuring internal fairness and external competitiveness[176]. - The total number of R&D personnel has increased to 143, representing 42.18% of the company's total workforce[77]. - The company plans to enhance its human resource management to attract and retain talent, ensuring a skilled workforce to support its growth strategy[137].