SMTCL(SZ:000410)2023-04-28 16:00Financial Compliance and Reporting - The financial statements of the company comply with the requirements of the accounting standards and accurately reflect the financial position as of December 31, 2022, and the operating results for the year 2022[2]. - The company has established a normal operating cycle of 12 months for the classification of assets and liabilities[3]. - The scope of the consolidated financial statements is determined based on control, including the company and all subsidiaries[5]. - The company measures expected credit losses for receivables and contract assets based on the expected credit loss amount over the entire duration or the next 12 months[14]. - Financial assets are classified based on the business model and cash flow characteristics, including those measured at amortized cost and at fair value[8]. - The company recognizes financial assets or liabilities when it becomes a party to a financial instrument contract[8]. - The company will reassess control over subsidiaries if relevant facts and circumstances change[5]. - The company includes the operating results and cash flows of subsidiaries from the date of obtaining control in the consolidated financial statements[5]. - The company has a policy for measuring loss provisions for receivables without significant financing components based on expected credit losses over the entire duration[14]. - The company will adjust the financial statements of subsidiaries to align with its accounting policies if there are inconsistencies[5]. - The company recognizes gains or losses from transactions with joint ventures and associates according to the accounting standards for business combinations[23]. - The company adjusts capital reserves and retained earnings based on the difference between the newly acquired long-term equity investment and the net asset share of the subsidiary from the purchase date[23]. Financial Performance - The company's operating revenue for 2022 was ¥1,670,288,166.21, a decrease of 1.68% compared to ¥1,698,768,413.35 in 2021[56]. - The net profit attributable to shareholders for 2022 was ¥25,755,983.41, a significant improvement of 102.98% from a loss of ¥863,319,902.15 in 2021[56]. - The net profit after deducting non-recurring gains and losses was -¥186,423,505.25, showing a 93.40% reduction in losses compared to -¥2,826,494,764.26 in the previous year[56]. - The net cash flow from operating activities for 2022 was -¥258,022,160.89, an improvement of 16.60% from -¥309,393,365.48 in 2021[56]. - Basic earnings per share for 2022 were ¥0.01, a recovery from -¥0.51 in 2021, reflecting a 101.96% increase[56]. - Total assets at the end of 2022 were ¥3,605,684,243.96, representing a 20.42% increase from ¥2,994,332,205.09 at the end of 2021[56]. - The net assets attributable to shareholders increased to ¥1,011,059,112.37, a remarkable growth of 303.18% from -¥497,623,907.36 in 2021[56]. - The company reported a significant improvement in its financial position, with total liabilities decreasing compared to previous years[56]. Cash Flow Analysis - The net cash flow from operating activities for 2022 was -361,790,550.18 yuan, compared to -261,115,036.52 yuan in 2021, indicating a decline in operational cash flow[60]. - Total cash inflow from operating activities increased to 557,781,801.40 yuan in 2022 from 401,072,102.12 yuan in 2021, reflecting a growth of approximately 39%[60]. - Cash outflow from operating activities rose to 919,572,351.58 yuan in 2022, up from 662,187,138.64 yuan in 2021, representing an increase of about 39%[60]. - The net cash flow from investing activities was -8,762,789.14 yuan in 2022, a significant decrease from 242,976,638.23 yuan in 2021, indicating a shift towards cash outflow in investments[60]. - Cash inflow from financing activities surged to 1,491,999,996.46 yuan in 2022, compared to 200,000,000.00 yuan in 2021, marking a substantial increase[60]. - The net cash flow from financing activities improved to 832,535,757.05 yuan in 2022, contrasting with -247,282,995.14 yuan in 2021, showing a positive turnaround[60]. - The ending cash and cash equivalents balance for 2022 was 555,285,155.72 yuan, a significant increase from 93,302,737.99 yuan in 2021[60]. Operational Efficiency and Market Strategy - The company continues to focus on enhancing its operational efficiency and exploring new market opportunities[56]. - The company has established a comprehensive marketing team covering various industrial sectors, enhancing its customer service capabilities[87]. - The company is focusing on strategic planning and operational management to enhance financial performance and ensure strategic goals are met[89]. - The company aims to enhance its product offerings towards high-end machine tools, aligning with national strategies for manufacturing upgrades[105]. - The company has implemented a "reveal the list and take the lead" mechanism to strengthen technology management and promote innovation[107]. - The company plans to optimize its supply chain and reduce direct material costs by limiting qualified suppliers to under 200[191]. - The company is focused on deepening market-oriented reforms to empower operational development and reduce unnecessary labor costs[191]. - The company will participate in 15 key exhibitions and hold 20 open days to enhance brand image and market presence[191]. Research and Development - The company completed the R&D of 26 main products across 5 series in 2022, enhancing its competitive edge in the market[89]. - The number of R&D personnel decreased by 7.34% to 202, while the number of personnel with a master's degree increased by 15% to 23[124]. - The company completed 40 technology projects in 2022, securing 55 patents, including 4 invention patents[131]. - R&D investment increased by 42.56% to ¥64,684,359.08 from ¥45,373,606.29, with R&D investment as a percentage of operating income rising to 3.87% from 2.67%[142]. - The company plans to develop high-precision horizontal CNC lathes and high-performance vertical five-axis machining centers to meet national strategic needs[154]. - The project for the i5 CNC system testing has been initiated, aiming to enhance product performance and competitiveness[154]. - The company is accelerating the research and development of key components for the new energy vehicle market, targeting battery-related parts[191]. Challenges and Risks - The company faced risks related to macroeconomic fluctuations, intensified industry competition, and challenges in technology development and new product commercialization[174]. - The company faces significant risks from fluctuations in the prices of key raw materials, which constitute a high proportion of the main business costs[191].