CREAT(SZ:002350)2023-04-25 16:00Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year growth of 15%[16]. - The company’s operating revenue for 2022 was ¥2,176,684,246.04, a decrease of 6.71% compared to ¥2,333,181,209.67 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥15,641,258.43, representing an 85.59% decline from ¥108,522,656.91 in 2021[22]. - The gross margin for the year was reported at 35%, an increase from 32% in the previous year[16]. - The company reported a basic earnings per share of ¥0.0293 for 2022, down 85.36% from ¥0.2001 in 2021[23]. - The company achieved operating revenue of 2,176.68 million yuan, a year-on-year decrease of 6.71%[52]. - Net profit attributable to shareholders was 15.64 million yuan, down 85.59% year-on-year; net profit excluding non-recurring items was 7.41 million yuan, a decrease of 89.76%[52]. - The gross profit margin was 18.56%, a decline of 2.41 percentage points compared to the previous year[52]. Market Expansion and Strategy - The company is focused on expanding its market presence and developing new technologies in the distribution automation sector[11]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[21]. - The company is actively exploring new energy business and integrated energy services, focusing on IGBT and energy storage technologies[30]. - The company plans to enhance its customer relationship management (CRM) system to improve client engagement by 40%[21]. - The company is actively expanding its market presence in industries outside the power grid, including solar thermal, chemical, metallurgy, and municipal sectors, aiming to increase its market share[49]. - The company is focused on expanding its market presence through strategic partnerships and technological advancements[156]. - The company plans to invest approximately RMB 2.23 trillion (around USD 350 billion) during the "14th Five-Year Plan" period to promote the transformation and upgrading of the power grid[114]. Research and Development - The company has invested RMB 50 million in R&D for new technologies in power distribution automation[21]. - The company’s R&D investment amounted to ¥132,948,293.01 in 2022, representing a 27.63% increase from ¥104,164,330.79 in 2021[82]. - R&D investment accounted for 6.11% of operating revenue in 2022, up from 4.46% in 2021, marking a 1.65% increase[82]. - The company completed 19 R&D projects in high and low voltage switch products, with 5 projects reaching completion and entering mass production[57]. - The company is committed to technological innovation, focusing on the development of new products and services in the energy sector[37]. Governance and Compliance - The board of directors confirmed the accuracy and completeness of the annual report, ensuring no false records or misleading statements[4]. - The financial report includes signatures from the responsible executives, affirming the authenticity of the financial statements[10]. - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, ensuring no significant discrepancies with the requirements set by the China Securities Regulatory Commission[130]. - The company has implemented a transparent performance evaluation and incentive mechanism for its management, aligning with annual operational goals[135]. - The company has a well-defined organizational structure with various departments, enabling independent operations and market engagement[145]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies, highlighting the difference between plans, forecasts, and commitments[5]. - The company has established a comprehensive trading management system to control risks associated with derivative investments[101]. - The company is implementing hedging strategies to mitigate risks associated with raw material price volatility[126]. - The company has strengthened internal control systems and auditing processes to enhance risk management and compliance[192]. Environmental and Social Responsibility - The company is committed to environmental and social responsibilities, as indicated in the report[5]. - By 2025, the target for renewable energy hydrogen production is set to reach 100,000 to 200,000 tons per year, contributing to a reduction of 1 to 2 million tons of CO2 emissions annually[34]. - The company has invested in a smart energy management demonstration project with a total installed capacity of 3.88MW for photovoltaic power generation, achieving annual energy savings of 1,638.74 tons of standard coal and reducing greenhouse gas emissions by 3,123.20 tons of CO2[199]. Shareholder Relations and Dividends - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[186]. - The cumulative cash dividend from 2019 to 2021 amounted to 150.11 million, representing 183.30% of the average annual net profit attributable to shareholders during that period[184]. - The company plans to not distribute profits for 2022 to support business transformation and upgrade, focusing on R&D in new energy equipment[187]. Acquisitions and Investments - A strategic acquisition of a local competitor is anticipated to be finalized by Q3 2023, expected to add RMB 300 million in annual revenue[21]. - The company acquired 100% equity of Sichuan Keri Ruiyi Power Engineering Co., Ltd. for CNY 180,000 based on an asset evaluation report[71]. - The company has completed the establishment of subsidiaries for solar energy projects, indicating a focus on renewable energy expansion[96]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of 500 million allocated for strategic investments[163].