YSDZ(SZ:002289)2023-04-26 16:00Financial Performance - The company reported a continuous decline in sales, leading to consecutive years of losses, with significant concerns raised about management's strategic direction and execution capabilities [6]. - The company's operating revenue for 2022 was ¥135,086,087.83, a decrease of 26.53% compared to ¥183,859,666.59 in 2021 [22]. - The net profit attributable to shareholders for 2022 was -¥25,472,942.87, showing a slight improvement of 2.05% from -¥26,006,659.97 in 2021 [22]. - The net cash flow from operating activities for 2022 was ¥50,767.40, a significant increase of 100.15% compared to -¥32,983,372.17 in 2021 [22]. - Total assets at the end of 2022 were ¥289,863,265.16, down 19.46% from ¥359,912,085.36 at the end of 2021 [22]. - The company's net assets attributable to shareholders decreased by 9.36% to ¥246,757,791.47 at the end of 2022 from ¥272,230,734.34 at the end of 2021 [22]. - The company reported a basic earnings per share of -¥0.0909 for 2022, an improvement of 2.05% from -¥0.0928 in 2021 [22]. - The weighted average return on equity for 2022 was -9.82%, a decline from -9.12% in 2021 [22]. - The company reported a net loss of ¥25,472,900.00 for 2022, attributed to a decline in sales orders and reduced product gross margins [53]. Strategic Direction and Management - The management highlighted a mismatch between sales volume and sales revenue, suggesting a shift towards lower-end products, contrary to the previously stated strategy of focusing on TFT large color screen products [7]. - The company’s strategic direction remains unclear, with ongoing challenges in the electronic industry, particularly in the LCD display sector [6]. - The management team has not met performance commitments, raising concerns about their ability to fulfill operational requirements [7]. - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on retaining capital for potential recovery [8]. - The company is facing the possibility of being risk-warned due to management's erroneous decisions regarding relocation and contract signing, which have not progressed as planned [6]. Market and Industry Conditions - The company experienced a 9% year-on-year decline in the Chinese TCG market size for 2022, with a projected overall decrease of 5% for the year [32]. - The company operates in the "computer, communication, and other electronic equipment manufacturing" industry, which is part of the strategic emerging industries in China [31]. - The display panel industry is expected to benefit from the rapid growth of IoT and 5G applications, creating new market opportunities [34]. - The company anticipates potential gross margin decline and order shortfalls due to decreased customer demand and intense industry competition, planning to optimize material procurement and adjust product strategies to stabilize business [72]. Operational Efficiency and Cost Management - The total operating costs decreased by 19.18% to ¥111.68 million, with direct materials accounting for 75.90% of the total costs [46]. - The company reported a significant reduction in inventory levels, with a decrease of 20.34% to 2,927,796 units [44]. - The company is focusing on expanding cooperation with clients in smart home and financial payment sectors, establishing a dedicated team for large clients [39]. - The company aims to enhance its core competitiveness by integrating technology, market, and talent resources, while reducing operational costs [37]. Governance and Compliance - The company has established a robust corporate governance structure in compliance with relevant laws and regulations [82]. - The board of directors consists of five members, including two independent directors, ensuring compliance with legal requirements and promoting fair governance practices [76]. - The company emphasizes the importance of information disclosure and transparency, adhering to regulations to ensure timely and accurate communication with shareholders [79]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management, ensuring compliance with relevant laws and regulations [78]. Research and Development - Research and development expenses were approximately ¥4.34 million, showing a slight decrease of 0.69% year-over-year [50]. - R&D investment amounted to ¥4,339,655.68 in 2022, a slight decrease of 0.69% compared to ¥4,369,823.02 in 2021, while the R&D investment as a percentage of operating revenue increased to 3.21% from 2.38% [51]. - The number of R&D personnel decreased by 11.63% to 38 in 2022, while the proportion of R&D personnel increased to 14.40% from 10.44% [51]. Employee and Labor Relations - The total number of employees at the end of the reporting period was 263, with 21 at the parent company and 242 at major subsidiaries [112]. - The company conducts various training programs for employees, focusing on skill enhancement and practical application [115]. - The company has implemented a mutual assistance system for employees facing economic difficulties, promoting a supportive workplace culture [130]. Environmental and Social Responsibility - The company is committed to enhancing environmental supervision and management to ensure compliance with environmental protection regulations [129]. - The company prioritizes environmental management and occupational health safety, conducting regular safety training for employees [133]. - The company is dedicated to achieving a balance between commercial interests and social responsibilities, aiming to build a trusted brand [133]. Related Party Transactions and Financial Independence - The company has committed to maintaining a fair and reasonable trading principle with related parties [139]. - The company guarantees that its senior management will only serve in the listed company and will not hold positions in related parties [138]. - The company has pledged to avoid any illegal occupation of the listed company's funds and assets by related parties [139]. - The company has established a commitment to avoid any conflicts of interest with its controlling shareholders and related parties [141].