SEWPG(SH:688660)2023-05-15 16:00Financial Performance - The net profit attributable to shareholders for 2022 was -338,066,603.73 RMB, while the net profit for the parent company was -510,273,622.57 RMB[6]. - The cumulative undistributed profits at the end of 2022 were 359,096,391.68 RMB after deducting shareholder dividends of 153,333,341.00 RMB[6]. - The company plans not to implement any profit distribution for 2022, including cash dividends or stock dividends[6]. - The company's operating revenue for 2022 was approximately ¥12.08 billion, a decrease of 48.61% compared to ¥23.50 billion in 2021[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥338.07 million, down 166.68% from a profit of ¥507.02 million in 2021[21]. - The basic and diluted earnings per share for 2022 were both -¥0.25, a decline of 154.35% from ¥0.46 in 2021[22]. - The net cash flow from operating activities decreased significantly to -¥717.56 million, compared to a positive cash flow of ¥336.11 million in 2021[21]. - The company's total assets at the end of 2022 were approximately ¥30.21 billion, down 1.58% from ¥30.69 billion at the end of 2021[21]. - The decline in revenue was primarily due to the reduction of subsidies in the wind power industry and a significant drop in offshore wind turbine deliveries[24]. - The company recognized a loss of ¥675.57 million related to new product sales orders, which exceeded the previously recognized inventory impairment provisions[25]. - The weighted average return on equity decreased to -4.53%, down 12.71 percentage points from 8.18% in 2021[22]. - The company experienced a significant decline in sales collections, impacting the net cash flow from operating activities[25]. Operational Developments - The company has developed several new product platforms, including the "卓刻" platform for land-based applications and the "Petrel" platform for complex marine environments[13]. - The company launched five products on the "Zhuoke" platform and began mass delivery of the first 5MW onshore wind turbine in December 2022[36]. - The company has initiated the development of 12MW and above semi-direct drive offshore products, laying a strong foundation for expanding its offshore wind market[36]. - The company completed construction of self-owned wind farms with an installed capacity of 109.4 MW and has 530 MW under construction[40]. - The company’s self-owned wind farms generated revenue of 82.15 million yuan, a year-on-year increase of 79.22%[40]. - The company’s service business generated new orders worth 484.70 million yuan, achieving sales revenue of 293.39 million yuan[41]. - The company has established seven regional service centers, enhancing its operational and maintenance capabilities across the country[41]. - The company has made significant progress in penetrating the supply chain of core components, including the development of blade factories in Jilin and Gansu[38]. - The company primarily operates in the wind turbine assembly business, utilizing a customized order-based production model, sourcing components from qualified suppliers, and completing assembly and testing before delivery[43]. Market Position and Strategy - The company maintained a leading position in the offshore wind market, with a market share of 28.0% in newly installed capacity in 2022, ranking first in the industry[51]. - The company is focusing on expanding its service business, which includes value-added services for wind turbines and optimization of wind farm management[43]. - The company is actively involved in wind resource development, including investment and construction of wind farms, aiming to generate revenue from power generation or project transfers[43]. - The company is adapting to the competitive landscape by enhancing its technological capabilities in core areas such as blade design and control systems, which are critical for offshore wind turbine development[50]. - The company is participating in the construction of large-scale wind and solar bases, particularly in desert and remote areas, to support the national renewable energy strategy[48]. - The company is focusing on developing larger wind turbines, with R&D efforts targeting models of 8-10 MW and above, and 15 MW as a key area for future research[53]. - The company is committed to reducing the levelized cost of electricity (LCOE) for offshore wind projects, aiming for competitive returns in the market[79]. Research and Development - Research and development expenses accounted for 4.83% of operating revenue, an increase from 3.94% in 2021[22]. - The total R&D expenditure for 2022 was approximately ¥583.81 million, a decrease of 36.89% compared to ¥925.14 million in the previous year, with R&D expenditure as a percentage of revenue increasing to 4.83%[72]. - The company applied for 280 patents and obtained 253, bringing the cumulative total to 1,326 applications and 647 granted patents[70]. - The company has made significant advancements in core technologies, including digitalization and intelligent manufacturing, enhancing its competitive edge in the wind power sector[56]. - The company is committed to digital transformation and has established a toolchain for optimizing the lifecycle of wind turbines[76]. - The company aims to enhance its competitive edge through the optimization of design and technology in the wind energy sector[76]. Governance and Management - The board held 12 meetings during the reporting period, ensuring scientific decision-making on major matters such as investment and asset sales[166]. - The supervisory board convened 11 meetings to review periodic reports and provided opinions on the use and management of raised funds[167]. - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, and operations[169]. - The company has established a strong governance framework with independent directors and a diverse board composition[179]. - The company reported a significant leadership change with the resignation of Zhang Heping on February 18, 2022[180]. - The company has undergone organizational adjustments, impacting the roles of several key technical personnel, including the appointment of Mr. Zhu Zhiquan as Deputy Chief Engineer[183]. - The company has maintained a stable leadership team, with many members serving in their roles for several years, ensuring continuity in management[186]. Environmental Commitment - The company is committed to addressing climate change and aims to contribute to the "dual carbon" goals of peak carbon emissions by 2030 and carbon neutrality by 2060[13]. - The company is committed to environmental sustainability, employing green design and construction technologies in its wind power projects[57]. - The company is focused on creating a digital wind farm solution that supports the entire lifecycle of development, design, construction, and operation, aiming to lower the levelized cost of electricity[159].