XIIC(SZ:000159)2023-04-20 16:00Financial Performance - The company's operating revenue for 2022 was CNY 1,611,414,197.67, representing a 43.98% increase compared to CNY 1,119,159,300.43 in 2021[20]. - The net profit attributable to shareholders for 2022 reached CNY 297,894,281.19, a significant increase of 976.88% from CNY 27,662,678.41 in the previous year[20]. - The basic earnings per share for 2022 was CNY 0.6197, up 977.74% from CNY 0.0575 in 2021[20]. - The net profit after deducting non-recurring gains and losses was CNY 29,161,527.30, a 915.72% increase from CNY 2,871,013.52 in the previous year[20]. - The company reported a significant increase in sales volume for photovoltaic brackets, which rose by 157.10% to CNY 500,659,836.59, representing 31.07% of total revenue[48]. - The company achieved operating revenue of CNY 1,611,414,197.67, an increase of 43.98% compared to the previous year, primarily due to the expansion of bulk trade in chemical products and the contribution from the newly consolidated subsidiary Zhongda Tower Metal Manufacturing[45]. - Net profit attributable to the parent company reached CNY 297,894,300, a significant increase of 976.88%, mainly driven by the gain from the transfer of a 40% stake in Wanjia Fund Management Co., Ltd. and the full-year profit contribution from Zhongda Tower[45]. Assets and Liabilities - The company's total assets decreased by 16.58% to CNY 3,077,536,632.35 at the end of 2022, down from CNY 3,689,030,699.62 at the end of 2021[20]. - The net assets attributable to shareholders increased by 13.69% to CNY 2,525,887,090.38 at the end of 2022, compared to CNY 2,221,649,871.29 at the end of 2021[20]. - The company's inventory increased by 6.04%, reaching 802.212 million yuan, compared to 738.913 million yuan at the beginning of the year[71]. - The long-term equity investment dropped to zero from 660.412 million yuan, primarily due to the sale of Wanji Fund equity[71]. - The total liabilities decreased significantly, with other payables dropping by 14.00% to 28.231 million yuan, primarily due to payments for previously accrued acquisition costs[71]. Cash Flow - The cash flow from operating activities showed a negative net amount of CNY -326,151,758.03, a decline of 3,140.54% from CNY 10,726,787.40 in 2021[20]. - The net cash flow from operating activities turned negative at -¥326,151,758.03, a significant decline compared to the previous year[64]. - The net cash flow from investment activities increased by 783.35%, reaching 788.977 million yuan, mainly due to cash received from the disposal of Wanji Fund equity[65]. - The net cash flow from financing activities decreased by 498.93%, resulting in -402.618 million yuan, primarily due to loan repayments during the year[65]. Business Segments - The wholesale of oil and chemical products accounted for 52.49% of total revenue, generating CNY 845,884,807.45, with a year-on-year growth of 14.92%[47]. - The manufacturing sector saw a remarkable increase in revenue of 158.98%, contributing CNY 732,595,335.45, which represented 45.46% of total revenue[47]. - The real estate development sector experienced a decline in revenue by 72.18%, contributing only CNY 9,450,485.77, down from CNY 33,970,333.58 in the previous year[47]. - The company actively expanded its photovoltaic bracket business, which significantly contributed to profits during the reporting period[40]. Strategic Initiatives - The company has established a strategic partnership with major firms in the photovoltaic sector, expanding its customer base for solar support structures[34]. - The company is focusing on diversifying its oil wholesale business and expanding into chemical product trade to mitigate risks associated with fluctuating oil prices[43]. - The company plans to continue expanding its chemical product offerings and enhance its manufacturing capabilities to drive future growth[45]. - The company aims to leverage the growth of the photovoltaic industry by enhancing the technical content of its photovoltaic support products and expanding market share[90]. Governance and Management - The company underwent a board and management restructuring, with the new chairman being Feng Jianfang and the new general manager being Tang Xiaolong[112]. - The company appointed Wang Kefa as the new CFO and Shen Yong as the new board secretary in early 2023[112]. - The company has established a comprehensive internal control system to enhance risk management and awareness among employees, resulting in improved risk identification and assessment capabilities[104]. - The company has implemented internal control systems in compliance with relevant regulations, continuously improving its internal control framework[140]. Social Responsibility and Compliance - The company emphasizes its commitment to social responsibility and sustainable development[151]. - The company actively participated in social responsibility initiatives, including a consumption poverty alleviation action that contributed approximately RMB 40,000 to local farmers[154]. - The company has implemented effective environmental protection measures, including oil vapor recovery systems[148]. - The company has not experienced any major safety incidents during the reporting period[150]. Future Outlook - Future guidance suggests a projected revenue growth of approximately 10% for 2023, driven by increased market penetration[110]. - The company plans to invest significantly in technology research and development to enhance operational efficiency[110]. - The management highlighted a focus on market expansion strategies to enhance growth opportunities in 2023[110]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[110].