AVIC Jianghang(SH:688586)2023-03-14 16:00Financial Performance - The company's operating revenue for 2022 was CNY 1,114,928,450.26, representing a 16.96% increase compared to CNY 953,287,337.44 in 2021[22]. - The net profit attributable to shareholders for 2022 was CNY 243,990,970.18, a 5.55% increase from CNY 231,164,291.13 in 2021[22]. - Basic earnings per share for 2022 were CNY 0.43, down 24.56% from CNY 0.57 in 2021[23]. - The net cash flow from operating activities decreased by 47.40% to CNY 169,031,098.41, primarily due to a decline in customer advance payments[24]. - The company's total assets at the end of 2022 were CNY 3,602,094,607.83, a 3.36% increase from CNY 3,485,059,421.19 at the end of 2021[22]. - The weighted average return on equity for 2022 was 11.28%, a decrease of 0.29 percentage points from 11.57% in 2021[23]. - The net profit after deducting non-recurring gains and losses was CNY 203,112,797.99, a slight increase of 1.32% from CNY 200,473,202.91 in 2021[22]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.8 RMB per 10 shares, totaling approximately 101.74 million RMB, which represents 41.70% of the net profit attributable to shareholders[5]. - The company intends to increase its total share capital from 565,242,254 shares to 791,339,156 shares by issuing 4 additional shares for every 10 shares held, resulting in a total of 226,096,902 new shares[6]. - As of December 31, 2022, the profit available for distribution to shareholders was approximately 510.66 million RMB[5]. Audit and Compliance - The company received a standard unqualified audit report from Da Hua Accounting Firm[5]. - The company’s board of directors and management have confirmed the accuracy and completeness of the annual report[4]. - The company has no non-operating fund occupation by controlling shareholders or related parties[8]. - The company has no violations in decision-making procedures for providing guarantees[8]. - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors[7]. Research and Development - Research and development expenses accounted for 12.43% of operating revenue in 2022, an increase of 0.17 percentage points from 12.26% in 2021[23]. - The total R&D investment for the year was CNY 138,625,054.70, an increase of 18.62% compared to CNY 116,865,011.62 in the previous year[62]. - The company applied for 123 patents in 2022, with 89 being invention patents, accounting for 72% of the total[60]. - The company has developed advanced technologies for military air conditioning systems, ensuring reliable operation under extreme conditions[58]. - The company is actively engaged in the research and development of new technologies and products to meet the demands of military applications[58]. Market and Business Strategy - The company plans to enhance market awareness and customer focus to drive steady growth across all business segments[24]. - The company focused on reducing costs, improving quality, and increasing efficiency, while expanding market depth and breadth[34]. - The company is committed to expanding its market presence in the aviation and refrigeration industries, targeting key projects such as the CR929 oxygen system and AC313A helicopter oxygen system[127]. - The company aims to achieve a quality-driven development strategy, focusing on improving production efficiency and product reliability through technological advancements[126]. Risk Management - The company has outlined potential risks in its report, which investors should be aware of[4]. - The company faces risks related to core competitiveness, particularly in technology upgrades and meeting customer demands[79]. - The company is exposed to operational risks due to high customer concentration and potential changes in procurement policies[81]. - The company's future performance may be adversely affected by fluctuations in military orders due to changes in international relations and national defense spending[85]. Governance and Management - The company completed the election of the second board of directors and supervisory board on September 16, 2022[133]. - A total of 5 shareholder meetings were held in 2022, with 24 proposals reviewed at the shareholder meetings and 58 proposals at the board meetings[134]. - The company has established a governance structure with 9 directors, including 7 external directors and 3 independent directors[133]. - The company has implemented various internal management and control systems to ensure the rights and obligations of shareholders, directors, supervisors, and senior management are upheld[133]. Environmental and Social Responsibility - The company invested over 3 million RMB in safety production, ensuring no safety accidents occurred throughout the year[194]. - The company conducted environmental management with an investment of 720,000 RMB in environmental protection measures during the reporting period[197]. - The company achieved a 100% compliance rate in the disposal of hazardous waste, processing 70.8165 tons of hazardous waste in 2022[200]. - The company organized volunteer service activities with over 650 employee participations and allocated 137,700 RMB for special funds in 2022[195].