Sun Cable(SZ:002300)2023-04-10 16:00Financial Performance - The company's operating revenue for 2022 was ¥13,103,244,444.82, representing a 16.74% increase compared to ¥11,224,746,835.93 in 2021[18]. - The net profit attributable to shareholders for 2022 was ¥213,296,710.59, a 34.53% increase from ¥158,547,844.08 in 2021[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥193,927,037.03, up 44.61% from ¥134,106,280.72 in 2021[18]. - The basic earnings per share for 2022 was ¥0.3248, reflecting a 34.55% increase from ¥0.2414 in 2021[18]. - Total assets at the end of 2022 reached ¥5,407,839,219.73, a 23.54% increase from ¥4,377,424,633.72 at the end of 2021[18]. - The net assets attributable to shareholders at the end of 2022 were ¥1,793,036,761.49, a 6.91% increase from ¥1,677,098,681.27 at the end of 2021[18]. - The company reported a significant decrease in cash flow from operating activities, which was ¥40,957,822.58, down 79.87% from ¥203,459,882.08 in 2021[18]. - The weighted average return on equity for 2022 was 12.29%, an increase of 2.62% from 9.67% in 2021[18]. Revenue Breakdown - The revenue from wire and cable manufacturing was ¥6,484,111,070.7, accounting for 49.48% of total revenue, with a year-on-year growth of 25.30%[45]. - The revenue from special cables increased by 31.85% year-on-year, reaching ¥4,076,819,311.6, which accounted for 31.11% of total revenue[45]. - The total revenue for the power cable segment reached CNY 1,057,200,080, representing a year-on-year increase of 5.82%[48]. - The East China region contributed ¥6,913,174,445.5 to revenue, representing 52.76% of total revenue, with a significant year-on-year growth of 38.09%[45]. Investment and R&D - The company is investing in the development of underwater cables, focusing on 220KV and below AC submarine cables, and plans to expand to 500KV and below DC submarine cables in the future[33]. - The company’s R&D investment amounted to ¥26,690,817.08 in 2022, representing a 16.80% increase from ¥22,851,312.08 in 2021[61]. - Research and development expenses increased by 16.80% to CNY 26,690,817.08, reflecting the company's commitment to innovation[57]. - The company is focusing on research and development to increase the number of new product projects and enhance the technical capabilities of its R&D personnel[98]. Market Expansion - The company has expanded its sales network beyond Fujian province, actively developing sales channels in other regions[36]. - The company added 19 new provincial agents, increasing the total number of agents to 292, and established 8 new sales regions covering major cities nationwide[39]. - The company is actively pursuing market expansion through new product development and strategic investments in subsidiaries[75]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[136]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and enhancing transparency in operations[107]. - The board of directors consists of 11 members, including 4 independent directors, who actively participate in decision-making and oversight of company operations[110]. - The company maintains independence from its controlling shareholder, ensuring no reliance on them for operations, personnel, or financial matters[118]. - The company has held two temporary shareholder meetings in December 2022, with participation rates of 59.01% and 59.00% respectively, indicating active shareholder engagement[119]. Risk Management - The company has outlined future risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company identified risks related to significant fluctuations in raw material prices, particularly copper, which constitutes about 80% of its total product costs[99]. - The company established a futures hedging management system to strengthen internal controls and risk prevention measures[81]. Sustainability and Social Responsibility - The company is committed to sustainability, with plans to reduce carbon emissions by 20% over the next three years[136]. - The company established a 14.1 MW photovoltaic power generation project in 2022, generating a total of 15.22 million kWh, resulting in a reduction of carbon emissions by 9,632.92 tons[177]. Employee and Management - The total number of employees at the end of the reporting period is 2,068, with 1,537 in the parent company and 531 in major subsidiaries[159]. - The company has established a comprehensive salary system, with different structures for management, technical, and operational staff, including performance bonuses and allowances[161]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,055.21 million[147]. Future Outlook - Future guidance indicates a projected revenue growth of 12% for 2023, targeting 1.34 billion CNY[120]. - The company plans to pursue strategic acquisitions to enhance its product offerings, with a budget of 300 million CNY allocated for potential targets[120]. - A new technology initiative is set to launch in Q3 2023, expected to improve production efficiency by 25%[120].