PRET(SZ:002324)2023-04-19 16:00New Energy Business Development - The company has established a new energy business segment through the strategic restructuring of Hai Sida Power, aiming to rapidly expand the production capacity of energy storage products, with a planned capacity of 7.3 GWh[6]. - The company is focusing on sodium-ion battery production to enhance its core competitiveness in the new energy sector[84]. - The company plans to invest in a new intelligent manufacturing base in Tianjin for low-carbon high-performance composite materials, with a planned capacity of 120,000 tons and an annual output of at least 30,000 tons from recycled materials[105]. - The company has restructured Jiangsu Haida Power Co., Ltd., adding lithium-ion battery business to quickly enter high-quality industry segments such as energy storage and small power lithium batteries[110]. - The company aims to enhance its product technology and capacity in the energy storage and small power lithium battery sectors, collaborating closely with strategic partners[111]. - The energy storage industry is expected to reach a trillion-level market, with a projected global energy storage demand of 4.1TW and approximately 500TWh of storage capacity by 2050[102]. - The global demand for lithium batteries in energy storage is expected to reach 460GWh by 2025, with a compound annual growth rate of 60.11% from 2021 to 2025, and 1,300GWh by 2030[102]. Financial Performance - The company's total revenue for 2022 reached ¥6,758,481,608.85, representing a 38.76% increase compared to ¥4,870,775,031.76 in 2021[150]. - Net profit attributable to shareholders was ¥202,094,518.36, a significant increase of 750.99% from ¥23,748,168.59 in the previous year[150]. - The net profit after deducting non-recurring gains and losses was ¥175,512,319.67, up 545.53% from a loss of ¥39,394,321.56 in 2021[150]. - The company's total assets increased by 86.44% to ¥8,608,274,287.07 at the end of 2022, compared to ¥4,617,289,096.57 at the end of 2021[150]. - The net profit attributable to shareholders for the fourth quarter was 49,258,599.37 yuan, with a total annual revenue of 6,758,481,506.85 yuan[182]. - The net assets attributable to shareholders increased by 9.04% year-on-year, reaching 2,839,195,230.94 yuan[181]. Research and Development - The company has accumulated a total of 179 authorized patents, including 167 invention patents, demonstrating a strong focus on innovation and technology development[12]. - The company's R&D investment amounted to ¥357,706,593.87 in 2022, representing a 43.92% increase from ¥248,542,687.31 in 2021, with R&D expenses accounting for 5.29% of operating revenue[65]. - R&D expenses rose by 43.92% to ¥357,706,593.87, attributed to the inclusion of Jiangsu Haishida Power Supply's financials and increased trial production activities[34]. - The company is collaborating with Zhongke Haina on sodium-ion battery research, aiming to develop and introduce applications for downstream core customers[195]. Sales and Market Expansion - The company achieved a capacity utilization rate of 98.11% for modified plastics, with a designed capacity of 400,000 tons per year, indicating efficient production operations[8]. - The sales volume in the modified plastics industry increased by 18.49% to ¥567,241,150, while production volume rose by 14.27% to 392,450.60 tons[57]. - Total sales amount from the top five customers reached ¥929,400,206.83, accounting for 13.75% of the annual total sales[32]. - The revenue from the modified plastics industry was ¥5,672,411,546.83, showing a growth of 13.34% year-on-year[128]. - The revenue from the new energy battery sector reached ¥1,086,070,062.02, marking an 18.52% increase compared to the previous year[128]. - The domestic revenue was ¥6,088,858,644.84, reflecting a 14.53% growth from ¥5,203,961,996.80 in 2021[128]. - The company has established long-term stable partnerships with renowned electric tool manufacturers, including Stanley Black & Decker and Bosch, indicating strong market presence[195]. - In the smart home appliance sector, the company has successfully accumulated clients such as Midea and Ecovacs, showing positive market expansion trends[195]. - The company has formed strategic partnerships in the energy storage sector with major clients like Daqin New Energy, enhancing its market position[195]. Operational Efficiency - The company has implemented a share repurchase plan, buying back 6,444,940 shares, which is 0.64% of the total share capital, with a total expenditure of approximately 79.35 million yuan[26]. - The company has established a professional after-sales support team to meet the high safety and reliability requirements of customers for lithium-ion battery products[5]. - The company has adopted a "one-to-one marketing" strategy for standardized battery products, enhancing customer relationship management through CRM systems[4]. - The company has a comprehensive sales model that includes credit periods of 30-90 days for long-term customers, ensuring flexibility in payment terms[3]. - The company is implementing a digital transformation strategy across R&D, marketing, and operations to enhance efficiency and competitiveness[126]. Cost Management - Sales expenses increased by 58.81% to ¥69,165,615.28, primarily due to the acquisition of Jiangsu Haishida Power Supply[34]. - Financial expenses increased by 80.48% to ¥65,667,607.17, mainly due to increased acquisition loans and the inclusion of Jiangsu Haishida Power Supply's financials[34]. - The net cash flow from investment activities decreased by ¥1,063,724,700, a drop of 1367.20%, mainly due to cash payments for the acquisition of Jiangsu Haishida Power Supply[40]. - Energy procurement prices account for over 30% of the total production costs, indicating a significant impact on the company's financials[123]. Strategic Partnerships and Collaborations - The company has established measures to protect its intellectual property, including multiple patents and proprietary technologies[88]. - The company is actively managing foreign exchange risks by increasing RMB-denominated procurement and utilizing financial instruments to mitigate USD exposure[89]. - The company is focusing on expanding its electronic new materials in key areas such as millimeter-wave communication, semiconductors, and artificial intelligence, with a complete industrial chain in LCP resin synthesis and material application[102]. - The company has established a joint venture with Suzhou Jiju to focus on thermal conductivity and electromagnetic shielding materials, targeting growth in the 5G and new energy vehicle sectors[52]. - The company has developed multiple series of special appearance products for high-performance automotive interior and exterior materials, which have been widely promoted and applied in mainstream models[154]. - The company is actively promoting the development and application of materials for new energy vehicles, collaborating with several new car manufacturers[155]. - A total of 21 materials were included in Daimler Benz's global procurement list, 23 materials entered BMW's GS93016 standard materials platform, and 80 materials were certified for Ford's global procurement list during the reporting period[155].