XJEC(SZ:000400)2023-04-07 16:00Financial Performance - The company's operating revenue for 2022 was ¥14,917,449,398.19, representing a 24.41% increase compared to ¥11,990,697,379.23 in 2021[12] - The net profit attributable to shareholders for 2022 was ¥759,217,152.98, which is a 4.81% increase from ¥724,373,048.45 in 2021[12] - The net cash flow from operating activities increased by 32.75% to ¥1,731,508,402.78 in 2022, up from ¥1,304,357,104.76 in 2021[12] - The basic earnings per share for 2022 was ¥0.7529, reflecting a 4.80% increase from ¥0.7184 in 2021[12] - Total assets at the end of 2022 were ¥18,956,189,965.61, a 7.29% increase from ¥17,668,247,679.41 at the end of 2021[12] - The net assets attributable to shareholders increased by 7.00% to ¥10,080,416,125.75 at the end of 2022, compared to ¥9,420,658,965.36 at the end of 2021[12] - The net profit after deducting non-recurring gains and losses for 2022 was ¥712,939,702.87, a 6.70% increase from ¥668,198,586.91 in 2021[12] - The company reported a total revenue of 6.2 billion yuan for the year 2022, reflecting a year-on-year increase of 22.9%[84] - The company reported a total revenue of 10 billion RMB for the year 2022, reflecting a year-on-year growth of 15%[91] Revenue Breakdown - The total operating revenue for 2022 was approximately CNY 14.9 billion, with a quarterly breakdown of CNY 2.47 billion in Q1, CNY 3.66 billion in Q2, CNY 2.99 billion in Q3, and CNY 5.80 billion in Q4[15] - The revenue from the smart distribution system was ¥4,963,170,335.66, accounting for 33.27% of total revenue, with a growth of 12.66% year-on-year[36] - The EMS processing services and others saw a significant increase in revenue to ¥2,794,478,078.13, up 341.65% from the previous year[36] - The revenue from the East China region increased by 43.55% to ¥3,789,331,228.93, making up 25.40% of total revenue[36] - The revenue from electric vehicle smart charging and swapping systems decreased by 37.54% to ¥734,541,666.18[36] Investment and R&D - Research and development investment reached 688 million yuan, growing by 11.61% year-on-year[31] - The company has developed key technologies such as lightweight IGBT converters for offshore wind power and has received national recognition for two products[32] - The company aims to enhance its market competitiveness in offshore wind power IGBT converters through the completion of new product development[52] - The company plans to increase R&D investment to enhance its industry position and profitability, with a focus on new energy and smart grid solutions[73] - Research and development investment increased by 25% in 2022, totaling 1 billion RMB, focusing on renewable energy technologies[91] Operational Efficiency - The company has implemented a centralized procurement model to optimize supply chain management and reduce costs[27] - The company has built advanced intelligent manufacturing lines, enhancing production efficiency and quality control[34] - The company has implemented a new strategy to improve operational efficiency, aiming for a 5% reduction in operational costs by the end of 2023[86] - The company aims to reduce operational costs by 8% through efficiency improvements in the supply chain[91] Market Strategy - The company is focusing on five core business areas: ultra-high voltage, smart grid, new energy, electric vehicle charging, and industrial intelligence[23] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[86] - The company is actively pursuing international business opportunities, particularly in core products related to direct current transmission and smart distribution[73] - The company is committed to improving product quality and operational efficiency through management reforms and talent acquisition[74] Governance and Compliance - The company has implemented a robust governance structure, with regular training for board members and management to enhance compliance and operational standards[78] - The company is committed to transparency and accuracy in its financial reporting, aligning with the standards set by regulatory authorities[79] - The company has established independent financial operations, including a separate accounting system and tax obligations, ensuring financial autonomy[79] - The company has maintained compliance with all commitments made to minority shareholders[143] Environmental Sustainability - The company has implemented measures to enhance environmental protection, including the adoption of "oil-to-water" and "zero heavy metal" processes[129] - The company has established an emergency response plan for environmental incidents, registered with the local ecological environment bureau[131] - The company has initiated the construction of a green "dual carbon" smart demonstration park, which includes a 1.5MWp distributed rooftop photovoltaic system and a 100kW/200kWh flexible shared energy storage system[134] - The company prioritizes green procurement, focusing on high resource utilization and low pollutant emission equipment, and promotes paperless office practices to reduce costs[135] Shareholder Relations - The company is focused on maintaining shareholder rights, particularly for minority shareholders, through equitable treatment in decision-making processes[78] - The company reported a total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 10.2376 million[100] - The company has a performance-based remuneration system for its directors and senior management, which is determined based on assessment indicators and year-end performance[100] - The total number of common stock shareholders at the end of the reporting period was 92,156, with a significant increase from 70,565 in the previous month, representing a growth of approximately 30.5%[168] Risk Management - The company faces risks related to policy changes, market competition, raw material price fluctuations, and talent recruitment[74][75] - The company is actively addressing industry competition issues with its controlling shareholder, committing to resolve conflicts through various legal and regulatory compliant methods over the next five years[80] Audit and Financial Reporting - The audit opinion issued was a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position[193] - The company is committed to maintaining effective internal controls to prevent material misstatements in financial reporting[199] - The audit identified key audit matters related to revenue recognition and expected credit loss measurement, highlighting their importance in the financial statements[196]