Crown Advanced Material (SH:688560)2023-05-30 16:00Financial Performance - The net profit attributable to the parent company's shareholders for 2022 was RMB 104,898,278.52, with a cash dividend distribution ratio of 34.54%[5]. - The proposed cash dividend is RMB 1.80 per 10 shares, totaling RMB 36,234,345.24 based on a total share capital of 201,301,918 shares[5]. - As of December 31, 2022, the company's distributable profits amounted to RMB 607,285,696.46[5]. - The company did not issue bonus shares or increase capital reserves during the year[5]. - The company's operating revenue for 2022 was CNY 1,741,534,018.57, representing a 35.10% increase compared to CNY 1,289,068,858.97 in 2021[22]. - The net profit attributable to shareholders for 2022 was CNY 104,898,278.52, a decrease of 14.66% from CNY 122,924,268.25 in 2021[22]. - The net profit after deducting non-recurring gains and losses was CNY 95,844,118.86, which is a slight increase of 1.77% from CNY 94,179,903.30 in 2021[22]. - The cash flow from operating activities for 2022 was CNY 82,984,174.48, a significant recovery from a negative cash flow of CNY -93,255,130.82 in 2021[22]. - The total assets at the end of 2022 were CNY 3,749,275,141.50, an 88.92% increase from CNY 1,984,588,142.03 at the end of 2021[22]. - The net assets attributable to shareholders increased by 121.57% to CNY 3,136,833,159.44 from CNY 1,415,734,281.88 in 2021[22]. - The basic earnings per share for 2022 were CNY 0.63, down 16.00% from CNY 0.75 in 2021[23]. - The weighted average return on net assets for 2022 was 6.63%, a decrease of 2.36 percentage points from 8.99% in 2021[23]. Operational Highlights - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[8]. - The company received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company plans to maintain the distribution ratio per share unchanged, adjusting the total distribution amount if the total share capital changes before the dividend distribution date[6]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[7]. - The company has confirmed that all board members attended the board meeting, ensuring the authenticity and completeness of the annual report[5]. - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to drive growth[21]. - The company maintained growth in the production and sales volume of solar cell packaging backplanes and films throughout the year[33]. - The company achieved operating revenue of 1.742 billion yuan, a year-on-year increase of 35.10%, and a net profit attributable to shareholders of 105 million yuan, with a net profit excluding non-recurring gains and losses of 95.84 million yuan[34]. - The company reported a net profit attributable to shareholders of -29,714,318.09 CNY in Q4 2022, contrasting with positive profits in the earlier quarters[26]. Research and Development - Research and development expenses accounted for 3.92% of operating revenue, a decrease of 0.16 percentage points from the previous year[24]. - The company aims to enhance production efficiency and product quality in the photovoltaic industry, aligning with global green development policies[33]. - The company has been recognized as a national-level specialized and innovative "little giant" enterprise, with a total of 134 authorized patents, including 35 invention patents[62]. - The company has increased its R&D investment in solar cell packaging films and aluminum-plastic films, focusing on talent acquisition and expanding its R&D team[63]. - The company has developed a new type of high-structural-strength polyolefin film, improving thermal dimensional stability by 30%-60%[83]. - The company has successfully developed a transparent grid structure for bifacial solar cell module packaging, achieving a light transmittance of no less than 80%[83]. - The company has achieved a cross-linking degree of over 70% in its new encapsulation film, compared to less than 60% in conventional films[83]. - The company has developed a high UV resistance encapsulation film for photovoltaic modules, significantly improving production efficiency and reducing costs[83]. - The company has developed a precision coating composite technology that allows for multi-layer coating in a single pass, ensuring product quality reliability in mass production[85]. Market and Industry Trends - The company plans to continue expanding its market presence and invest in new product development[21]. - The company anticipates that the demand for distributed photovoltaic systems will continue to grow, supported by policies promoting carbon neutrality and the development of large-scale wind and solar projects[52]. - The market share of bifacial solar modules is expected to increase, with bifacial and glass backsheets accounting for over 35% of the market in 2022[53]. - The company achieved a sales volume of 1.037 billion square meters of solar cell backsheets in 2022, with BO-type backsheets sales increasing by 149% year-on-year[58]. - The company’s production capacity for photovoltaic module encapsulation films reached 120 million square meters in 2022, with a total sales volume of 23.29 million square meters, representing a year-on-year increase of 163%[59]. - The company is actively pursuing new technologies and strategies to expand its market share in the solar energy sector and improve product offerings[70]. Governance and Management - The company has established a comprehensive governance structure, including a board of directors and various specialized committees, ensuring effective decision-making and protection of shareholder interests[142]. - All resolutions at the 2022 annual and extraordinary shareholder meetings were passed without any objections, indicating strong shareholder support[145]. - The company has maintained a stable leadership team, with no significant changes in key management personnel during the reporting period[149]. - The company has established a performance evaluation system and salary distribution mechanism to motivate employees[177]. - The company has a training plan that includes various training programs to enhance employee skills and align with strategic goals[178]. - The company has a cash dividend policy that prioritizes cash dividends when conditions are met, with a minimum cash dividend ratio of 80% for mature companies without major capital expenditures[179]. - The company has established a mechanism for environmental protection[200]. - The company is committed to accurate, timely, and complete information disclosure[198]. Environmental and Social Responsibility - The company emphasizes its commitment to ESG management, aligning with national strategies for "carbon peak and carbon neutrality"[198]. - Environmental protection investments during the reporting period amounted to 5.0675 million yuan[200]. - The company actively engages in various public welfare activities, contributing to social responsibility[198]. - The company focuses on energy conservation, resource recycling, and implementing environmental technology upgrades[198]. - The company aims to enhance both economic and environmental benefits through waste recycling[198].