FEIMA INTL(SZ:002210)2023-04-28 16:00Business Strategy and Operations - The company reported a significant expansion in its business scope, establishing a dual business strategy of "supply chain management + environmental new energy" since 2016, with the environmental new energy sector becoming a key pillar of its operations [24]. - The company’s main business has evolved to include modern logistics services and comprehensive logistics services, alongside its environmental new energy initiatives [24]. - The company operates three 75T/H circulating fluidized bed incinerators, achieving a waste disposal of over 400,000 tons and an annual power generation of approximately 241 million kWh [51]. - The company is actively expanding its environmental new energy business, focusing on county-level market projects to create a rolling development model of "signing a batch, starting a batch, operating a batch" [51]. - The company’s waste incineration capacity is set to increase with the ongoing construction of a new grate boiler with a processing capacity of 700 tons per day [51]. - The company’s supply chain management services include comprehensive logistics and trade execution services, primarily serving the IT electronics and fast-moving consumer goods industries [49]. - The company aims to enhance its dual business model of supply chain management and environmental new energy, focusing on sustainable development and risk resilience [104]. Financial Performance - The company's operating revenue for 2022 was ¥353,957,987.37, representing a 33.20% increase compared to ¥265,727,933.07 in 2021 [6]. - The net profit attributable to shareholders for 2022 was ¥88,351,718.06, a significant increase of 1,697.48% from ¥4,915,300.42 in 2021 [6]. - The net profit after deducting non-recurring gains and losses was -¥21,584,021.13, worsening by 830.80% from -¥2,318,858.60 in 2021 [6]. - The cash flow from operating activities showed an improvement, with a net cash flow of -¥41,216,814.20, a 35.32% reduction in losses compared to -¥63,723,946.41 in 2021 [6]. - Basic and diluted earnings per share for 2022 were both ¥0.0332, up 1,744.44% from ¥0.0018 in 2021 [6]. - The total assets at the end of 2022 were ¥1,243,401,106.33, reflecting an 11.30% increase from ¥1,117,201,885.99 at the end of 2021 [6]. - The net assets attributable to shareholders increased by 79.90% to ¥266,391,510.53 from ¥148,076,804.86 at the end of 2021 [6]. Risk Management - The company emphasizes the importance of risk awareness among investors, highlighting macroeconomic risks, policy changes, market competition, operational risks, and management risks as key factors [4]. - The company is exposed to policy change risks in the environmental new energy sector, which could affect its operational stability [109]. - The company will conduct annual goodwill impairment tests to mitigate risks associated with significant goodwill values on its balance sheet [111]. Governance and Compliance - The company has a sound corporate governance structure, with a clear separation between its operational institutions and those of its controlling shareholders [117]. - The company maintains independence in labor, personnel, and compensation management, with a fully established human resources system and wage management system [117]. - The company has an independent financial department with dedicated financial personnel, ensuring a separate accounting system and financial management practices [117]. - The company has implemented measures to control emissions of harmful substances, ensuring compliance with relevant environmental standards [158]. - The company adheres to various environmental protection laws and standards, including the "Environmental Protection Law of the People's Republic of China" and "Standards for Pollution Control of Municipal Solid Waste Incineration" [158]. Market and Industry Trends - The logistics supply chain service sector generated CNY 38.70 million, representing 10.93% of total revenue, but saw a decline of 31.80% compared to the previous year [60]. - The supply chain management industry is expected to continue stable growth, driven by government support and the integration of modern information technology [99]. - The environmental protection and renewable energy industry is supported by national policies, aiming to enhance waste treatment capabilities significantly by 2025 [101]. - By 2025, the urban waste incineration capacity is projected to reach 800,000 tons per day, with a resource utilization rate of around 60% [101]. Employee and Training - The company has implemented a complete training system for employees, including management training and skills training [145]. - The total number of employees at the end of the reporting period was 257, with 240 from major subsidiaries [143]. - The company has a total of 133 production staff, 8 sales staff, 40 technical staff, 15 financial staff, and 61 administrative staff [143]. Legal Matters - The company is currently involved in a lawsuit with Hyundai Corporation, with a disputed amount of 6,102.28 million yuan, which is still under trial [180]. - Another lawsuit from Shanghai Huanya Electric Power Operation Management Co., Ltd. against the company involves a claim of 49,223.84 million yuan, which has been withdrawn and concluded [180]. - The company is facing a third-party lawsuit related to a contract dispute, with an amount of 12,146.15 million yuan, which is currently in litigation [180]. - The company reported a total of 253.48 million yuan in other significant lawsuits, which have been resolved or mediated, with no substantial impact on the company [181]. Social Responsibility - The company emphasizes corporate social responsibility, balancing economic, social, and environmental benefits in its operations [165]. - The company donated approximately CNY 556,300 for poverty alleviation and social welfare activities during the reporting period [169]. - The company completed over 50% of the medical waste disposal tasks in Datong City during the pandemic response [168].