ZJR(SZ:002021)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥873,122,402.86, a decrease of 8.99% compared to ¥959,337,000.71 in 2021[22]. - The net profit attributable to shareholders was -¥409,444,079.78 in 2022, an improvement of 20.85% from -¥517,331,286.84 in 2021[22]. - The cash flow from operating activities was ¥15,181,696.60, down 92.91% from ¥214,077,476.95 in 2021[22]. - The basic and diluted earnings per share were both -¥0.60, a 20% improvement from -¥0.75 in 2021[22]. - Total assets at the end of 2022 were ¥1,354,672,393.60, a decrease of 7.59% from ¥1,465,874,829.10 at the end of 2021[22]. - The net assets attributable to shareholders were -¥296,882,217.08 at the end of 2022, a decline of 364.14% from ¥112,397,133.14 at the end of 2021[22]. - The company reported a significant decline in operating profit, which was CNY 1.05 million, down 94.90% due to decreased sales and increased bad debt provisions[55]. - The total revenue for 2022 was CNY 867,378,750.55, a decrease of 8.96% compared to CNY 952,766,412.92 in 2021[58]. - The net profit attributable to the parent company was CNY -409,444,079.78, representing a 20.85% improvement from CNY -517,331,286.84 in the previous year[56]. Production and Sales - In 2022, the company produced approximately 970,000 sewing machines, a year-on-year decrease of 35.3%[34]. - The total production of industrial sewing machines was around 630,000 units, down approximately 37% year-on-year[34]. - Domestic sales of industrial sewing equipment totaled about 230,000 units, reflecting a significant decline of 36.1% compared to the previous year[36]. - The company achieved an export value of $3.428 billion in 2022, marking a year-on-year increase of 8.98%[38]. - The production volume of sewing machines decreased by 36.24% to 324,673 units, while sales volume dropped by 14.59% to 380,751 units[62]. Research and Development - The company has developed over 200 types of industrial sewing machines across fourteen major series, showcasing its strong R&D capabilities[44]. - In 2022, the R&D center initiated 27 projects, including 9 for flat sewing machines, with 42 patents filed during the year[52]. - R&D investment increased by 9.32% from 25,093,171.90 CNY in 2021 to 27,433,041.33 CNY in 2022[75]. - R&D expenditure as a percentage of operating revenue rose from 2.62% in 2021 to 3.14% in 2022, an increase of 0.52%[76]. - The company is developing several new products, including a high-speed electronic sewing machine and a new integrated sewing machine, with expected positive market impacts[73]. Legal and Regulatory Issues - The company is currently involved in a legal dispute with Guangzhou Rural Commercial Bank, with a potential liability of up to 1.585 billion yuan[192]. - The company is cooperating with the China Securities Regulatory Commission regarding an investigation into alleged information disclosure violations[193]. - The company received a warning and a fine of ¥1.5 million from the China Securities Regulatory Commission for violations of securities laws[195]. - The company is liable for compensation up to ¥951.4 million to Guangzhou Rural Commercial Bank due to a court ruling[198]. - The company received a non-standard audit report indicating the inability to express an opinion on its financial statements due to insufficient evidence[199]. Corporate Governance - The company has established a comprehensive internal control system to ensure effective governance and risk management, with independent financial and operational structures[135]. - The company operates independently from its controlling shareholder, with clear asset ownership and no reliance on the shareholder for business operations[134]. - The company has made amendments to its articles of association to optimize its governance structure, with significant revisions approved in recent shareholder meetings[129]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2022[172]. - The company has established a governance structure comprising a shareholders' meeting, board of directors, and supervisory board, ensuring clear responsibilities and checks and balances[128]. Environmental Compliance - The company’s subsidiary, Zhongjie Technology, is listed as a key pollutant discharge unit by the Zhejiang Provincial Ecological Environment Department for 2022[177]. - The company has implemented an online monitoring system for environmental compliance, which has passed inspection by environmental authorities[180]. - The company has established a comprehensive wastewater treatment system that is functioning effectively[179]. - The company reported a total emission of particulate matter at 28 mg/Nm³, which is below the standard limit of 30 mg/Nm³[177]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[183]. Employee Welfare and Management - The company emphasizes employee welfare, ensuring timely payment of salaries and social insurance, and providing various benefits and support for employees[184]. - The company employed a total of 1,215 staff members at the end of the reporting period, with 900 in production, 138 in sales, and 52 in technical roles[160]. - A total of 50 employees obtained safety management certificates through training programs aimed at enhancing workplace skills and safety awareness[162]. - The company has established a salary and welfare system that is competitive within the industry, aiming to attract and retain talent[161]. Future Outlook and Strategy - The company plans to achieve a revenue target of 950 million yuan for its main business in 2023, focusing on product innovation, quality improvement, and cost reduction[115]. - The company aims to enhance its brand competitiveness and market share by optimizing product categories and expanding into Southeast Asian markets in 2023[117]. - The company plans to invest RMB 50 million in the annual production of 56,000 high-speed direct-drive computer sewing machines and RMB 70 million in the annual production of 30,000 high-speed direct-drive computer bag sewing machines[105]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 300 million RMB allocated for potential deals[144]. - The company plans to increase its marketing budget by 20% in 2023 to support new product launches and market expansion efforts[144].