VTRON(SZ:002308)2023-04-25 16:00Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB in 2022, representing a year-over-year growth of 15%[15]. - The company's operating revenue for 2022 was ¥514,534,867.78, a decrease of 25.28% compared to ¥688,643,272.31 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥41,926,412.21, a significant increase of 110.59% from a loss of ¥395,818,900.62 in 2021[22]. - The total revenue for the company in 2022 was CNY 514.53 million, representing a decrease of 25.28% compared to CNY 688.64 million in 2021[54]. - The gross margin for 2022 was reported at 40%, a slight increase from 38% in the previous year[112]. - Operating expenses increased by 5% year-over-year, primarily due to higher marketing costs associated with new product launches[112]. - The company reported a total revenue of 463.22 million, with a significant increase compared to previous years[101]. User Growth and Market Expansion - User data showed a growth in active users, reaching 2 million by the end of 2022, an increase of 25% compared to the previous year[15]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[15]. - The company is actively expanding its market presence by supporting the establishment of welfare-oriented childcare services in collaboration with employers[36]. - Market expansion plans include entering three new international markets by the end of 2023[112]. Research and Development - Investment in new technologies has increased by 30% in 2022, focusing on enhancing the ultra-high-definition digital splicing wall systems[15]. - The company has filed 50 new invention patents and received 36 new authorized patents, reinforcing its commitment to innovation and intellectual property[43]. - The company is focusing on multiple R&D projects, including cloud screen technology and integrated early childhood education solutions, aimed at enhancing revenue and market competitiveness[65]. - The company is investing 200 million RMB in R&D for new technologies aimed at enhancing user experience[112]. Corporate Governance and Management - The company is committed to enhancing its corporate governance practices, as detailed in the annual report[15]. - The company has established an independent human resources management department, ensuring compliance with labor laws and regulations[94]. - The financial accounting department operates independently, adhering to accounting laws and regulations, with no guarantees provided for shareholders or related enterprises[96]. - The company’s management structure is designed to operate independently, with no mixed operations or shared offices with controlling shareholders[97]. - The company has a strong emphasis on corporate governance with experienced individuals in key positions[105]. Financial Strategy and Shareholder Returns - The company plans to utilize idle funds for financial management, as approved in the 2022 shareholder return plan[99]. - The company has a structured plan for shareholder returns over the next three years (2022-2024)[99]. - The company did not propose any cash dividend distribution during the reporting period despite having a positive profit available for distribution to shareholders[133]. - The total pre-tax remuneration for the board of directors and senior management during the reporting period amounted to 737.41 million CNY[118]. Challenges and Risks - The management has identified key risks for future operations, including market competition and regulatory changes, which could impact growth[4]. - The company faced challenges in the ultra-high-definition digital splicing wall system business due to increased market competition and declining gross margins[33]. - The children's growth platform business faced significant impacts due to external factors, with many kindergartens unable to open, leading to a slowdown in service and product procurement[52]. - The company recognizes risks in the children's growth platform due to intensified competition and potential revenue declines from the transition of kindergartens to inclusive models[85]. Legal Matters and Compliance - The company is involved in a lawsuit regarding equity disputes with Wang Hongbing, with a claimed amount of RMB 54.91 million, and the court has ruled for the company to receive RMB 21,033,804.70 as a penalty[169]. - The company is also engaged in a lawsuit concerning equity transfer disputes with Liu Kef and Huisheng, with a claimed amount of RMB 82.64 million, currently in the first instance[170]. - The company has reported a total of RMB 118.12 million in other ongoing litigation or arbitration cases, which are either concluded or in progress[170]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[145]. Employee and Operational Insights - The total number of employees at the end of the reporting period was 669, with 487 in the parent company and 182 in major subsidiaries[129]. - The professional composition of employees includes 364 sales personnel, 119 technical personnel, and 50 production personnel[129]. - The company has implemented a training program that includes various training types such as new employee orientation and management training[131]. - The company strictly adheres to labor laws and provides competitive salaries to motivate employees[130].