SUFA(SZ:000777)2023-04-26 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,500,050,379.53, a decrease of 3.69% compared to ¥1,557,541,050.11 in 2021[23]. - Net profit attributable to shareholders for 2022 was ¥171,941,143.49, representing a significant increase of 43.13% from ¥120,129,234.65 in 2021[24]. - The net profit after deducting non-recurring gains and losses was ¥146,895,638.94, up 56.96% from ¥93,585,874.59 in the previous year[24]. - Basic earnings per share for 2022 were ¥0.45, an increase of 45.16% compared to ¥0.31 in 2021[24]. - Total assets at the end of 2022 amounted to ¥3,023,256,036.27, reflecting a growth of 3.15% from ¥2,930,998,566.17 at the end of 2021[24]. - Net assets attributable to shareholders increased by 7.88% to ¥1,795,697,674.43 from ¥1,664,529,811.50 in 2021[24]. - The company reported a cash flow from operating activities of -¥10,818,943.10, a decline of 107.66% compared to ¥141,202,533.40 in 2021[24]. - The weighted average return on equity for 2022 was 9.91%, up from 7.55% in 2021[24]. - The total revenue for 2022 was approximately ¥1.5 billion, a decrease of 3.69% compared to ¥1.56 billion in 2021[45]. - The valve manufacturing segment accounted for 96.43% of total revenue, generating approximately ¥1.45 billion, down 5.30% from the previous year[45]. Market Expansion and Strategy - The company aims to enhance its market share in the nuclear power sector, which is expected to exceed the oil and petrochemical market in terms of business contribution during the "14th Five-Year Plan" period[34]. - The company has established a strong presence in international markets, achieving breakthroughs in Oman, Mozambique, and Qatar, and successfully entering the Russian market[37]. - The company is actively pursuing international market expansion and new product development[80]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[108]. - A strategic acquisition of a local competitor is in progress, expected to increase market penetration by 15%[108]. Research and Development - The company has made significant advancements in R&D, including the establishment of a national key R&D project in collaboration with East China University of Science and Technology[36]. - The company has over 100 authorized patents and has received more than 50 awards for technological advancements, including first prizes from the National Energy Administration[40]. - The company reported a significant increase in R&D expenses, totaling CNY 63,873,723.99, which is an 18.35% increase compared to 2021[56]. - The company is focused on smart manufacturing and has made notable progress in information system construction to support production transformation[38]. - The company is advancing the localization of key valves for nuclear power plants, with ongoing projects aimed at enhancing core technology competitiveness[58]. Governance and Compliance - The company has established a robust governance framework to ensure transparency and protect shareholder interests, continuously improving its governance standards[92]. - The company operates independently from its controlling shareholder, with a complete and independent business system for design, manufacturing, and sales of industrial valves[96]. - The company has established an independent financial department, adhering to accounting standards and maintaining its own bank accounts, ensuring financial independence[98]. - The company has a clear governance structure with independent decision-making processes in place for its various departments[98]. - The company has implemented a structured decision-making process for determining the remuneration of senior management, linking it to performance assessments[114]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.21 RMB per 10 shares to all shareholders, based on a total of 385,494,593 shares[3]. - The company reported a cash dividend of 1.21 CNY per 10 shares, totaling 46,644,845.75 CNY, which represents 100% of the distributable profit[130]. - The total distributable profit for the year was 944,209,799.07 CNY, indicating a strong profitability position[130]. - The company has a stable dividend distribution policy, ensuring the protection of minority shareholders' rights[127]. Environmental and Social Responsibility - The company is committed to sustainability initiatives, aiming to reduce operational carbon emissions by 15% over the next three years[103]. - The company has set up an EHS management system to ensure compliance with environmental laws and regulations[141]. - The company donated 100,000 yuan for the renovation of a school as part of its poverty alleviation efforts[143]. - The company purchased over 260,000 yuan worth of local agricultural products to support poverty alleviation through consumption[143]. Financial Management and Internal Control - The company has established a comprehensive internal control system, with no significant deficiencies identified in financial and non-financial reporting for the year[134]. - The company maintained effective internal control over financial reporting as of December 31, 2022, with no significant deficiencies identified[138]. - The company has not reported any major deficiencies in internal control during the reporting period[135]. - The company has confirmed that there are no competitive activities with its main business from its subsidiary, Suzhou Valve Factory[148]. Employee Management and Training - The total number of employees at the end of the reporting period was 1,173, with 913 in the parent company and 112 in major subsidiaries[124]. - A total of 1,528 training sessions were completed during the year, amounting to 18,070 hours, with an average of 11.83 hours per employee[126]. - The company has a structured salary management system linking compensation to value creation, ensuring alignment between organizational efficiency and employee contributions[125]. Risks and Challenges - The company continues to face uncertainties regarding its ability to continue as a going concern, as indicated in the audit report[24]. - The company faces quality control risks due to its product structure, which consists of a variety of small-batch high-tech products, increasing the risk of quality loss[83]. - The company is expanding into overseas markets but faces risks due to complex environments and insufficient experience, prompting thorough market research and contract reviews[83].