Unionman Technology (SH:688609)2023-04-27 16:00Financial Performance - The proposed cash dividend for 2022 is CNY 0.38 per share (including tax), totaling CNY 18,728,150.74, which accounts for 31.04% of the net profit attributable to shareholders [6]. - The company repurchased shares amounting to CNY 63,328,718.08, representing 104.96% of the net profit attributable to shareholders for 2022 [7]. - The company's operating revenue for 2022 was approximately ¥2.40 billion, a decrease of 14.06% compared to ¥2.80 billion in 2021 [25]. - Net profit attributable to shareholders decreased by 38.66% to approximately ¥60.33 million from ¥98.36 million in the previous year [27]. - Basic and diluted earnings per share fell by 41.38% to ¥0.1214, down from ¥0.2071 in 2021 [26]. - The weighted average return on equity decreased by 3.79 percentage points to 4.69% from 8.48% in 2021 [26]. - The net profit after deducting non-recurring gains and losses decreased by 27.73% to approximately ¥61.28 million [28]. - The company reported a total revenue of 33,300 million RMB, with a year-on-year increase of 8,713.68 million RMB [78]. - The company achieved operating revenue of CNY 240,274.60 million, a decrease of 14.06% compared to the previous year [99]. - The net profit attributable to shareholders was CNY 6,033.48 million, down 38.66% year-on-year [99]. Revenue Growth and Market Expansion - Guangdong Jiulian Technology Co., Ltd. reported significant growth in revenue, achieving a total of RMB 1.2 billion in 2022, representing a year-on-year increase of 15% [24]. - The company has expanded its user base, reaching 5 million active users by the end of 2022, which is a 20% increase compared to the previous year [24]. - Jiulian Technology is optimistic about future growth, projecting a revenue increase of 10% to 12% for 2023, driven by new product launches and market expansion strategies [24]. - The company plans to enter new markets, specifically targeting Southeast Asia, with an expected market entry by Q3 2023 [24]. - The company is actively expanding into smart city solutions and smart hardware sectors, which are rapidly growing and will open new growth opportunities [52]. - The company plans to expand production capacity for home network communication terminals, IoT communication modules, and 5G communication modules to meet the increasing market demand [145]. - The company intends to expand its overseas market by promoting mature products that have already gained scale in the domestic market [143]. Research and Development - The company is investing heavily in R&D, with an allocation of RMB 150 million for the development of new technologies and products in the upcoming year [24]. - Research and development expenses accounted for 6.99% of operating revenue, an increase of 1.43 percentage points compared to 5.56% in 2021 [26]. - R&D investment totaled approximately ¥167.96 million in the current year, an increase of 8.13% from ¥155.33 million in the previous year, with R&D expenses accounting for 6.99% of total revenue [73]. - The company has developed 8 core general technologies and 14 core specialized technologies, along with 5 core intelligent manufacturing technologies [81]. - The company is focusing on the development of new products such as smart cameras based on the Harmony OS and WiFi 7 technology routers, with significant resource investment in these areas [39]. - The company is committed to maintaining R&D investment in IoT communication technology and collaborating with vertical industry clients to introduce innovative products and services [40]. Strategic Initiatives and Acquisitions - The company has completed a strategic acquisition of a local tech firm for RMB 200 million to enhance its product offerings and technological capabilities [24]. - The company has completed a strategic acquisition of a local tech firm for 300 million RMB to enhance its technological capabilities [173]. - The company is working on a cloud desktop product based on the 6323V100C chip, aimed at enhancing information security for government agencies [77]. - The company is focusing on expanding its market presence and enhancing corporate governance through these meetings [156]. Challenges and Risks - The company faced challenges due to geopolitical conflicts, chip supply shortages, and decreased demand for smart terminals, impacting revenue and product delivery timelines [26]. - The company is facing risks related to reliance on China Mobile, as over 50% of revenue comes from this single customer [91]. - The company's accounts receivable amounted to CNY 79,536.17 million, representing 40.52% of current assets, posing a risk of bad debts [95]. Corporate Governance and Compliance - The company held its first extraordinary general meeting on January 5, 2022, with 4 out of 7 directors present [157]. - The second extraordinary general meeting took place on August 23, 2022, focusing on the employee stock ownership plan [156]. - The annual general meeting was held on May 18, 2022, with 6 out of 7 directors present [160]. - The company has established a robust internal control system to enhance risk prevention capabilities and operational standards [152]. - The company emphasizes transparent information disclosure, ensuring all shareholders have equal access to company information [152]. Employee and Talent Management - The company has implemented an equity incentive plan to attract and retain top talent, ensuring sustainable development of its talent supply chain [148]. - The company has 632 R&D personnel, accounting for 40.59% of the total workforce, with a total R&D personnel compensation of 10,994.75 million [80]. - The average salary of R&D personnel increased to 17.40 million from 16.15 million in the previous period [80]. - The company has implemented a competitive salary policy aimed at attracting and retaining high-performing employees [187]. Future Outlook - The company is focusing on new product development and technology innovation to drive future growth [170]. - Future outlook includes a strategic plan to expand market presence and explore potential mergers and acquisitions [170]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% and aiming for 1.875 billion RMB [173]. - The management team emphasized a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2025 [173].