江苏神通(002438) - 2022 Q4 - 年度财报

Financial Performance - Jiangsu Shentong's product sales revenue for the year reached CNY 1,955.054 million, which is a key performance indicator for the company[22]. - The company's operating revenue for 2022 was ¥1,158,878,228.62, a slight increase of 1.6% compared to ¥1,143,896,056.51 in 2021[66]. - Operating profit decreased to ¥202,929,677.55 in 2022, down 27.8% from ¥280,903,175.86 in 2021[66]. - The total comprehensive income for the period decreased by CNY 1,516,653.44, resulting in a total of CNY 251,880,704.95[88]. - The profit distribution included a surplus reserve allocation of CNY 25,302,136.18 and a distribution to owners of CNY -24,287,807.80[93]. - The company reported a total of RMB 20.51 million in government subsidies related to its normal business operations for 2022[152]. - The total operating revenue for 2022 was approximately RMB 2.05 billion, with a net profit attributable to shareholders of RMB 227 million, representing a year-on-year increase of 12.5%[149]. Shareholder Information - The company raised a total of RMB 370,499,998.05 through a private placement of 21,781,305 shares at a price of RMB 17.01 per share, with a net amount of RMB 361,870,676.09 after deducting issuance costs[3]. - The total number of shares held by the top 10 unrestricted shareholders includes 82,578,557 shares held by Ningbo Juyuan Ruili Investment Partnership, representing a significant portion of the company's equity[7]. - The company’s actual controller, Han Li, is also the controlling person of the largest shareholder, Ningbo Juyuan Ruili Investment Partnership[9]. - The company’s top 10 unrestricted shareholders do not have any agreed repurchase transactions during the reporting period[9]. Audit and Compliance - The company received a standard unqualified audit opinion from Tianzhi International Accounting Firm for the financial statements as of December 31, 2022[18]. - The company’s financial report was signed off on April 16, 2023, indicating timely compliance with regulatory requirements[18]. - The management is responsible for ensuring the accuracy of financial reporting and compliance with auditing standards[25]. - Jiangsu Shentong's financial statements are subject to audit to provide reasonable assurance that they are free from material misstatement due to fraud or error[25]. Assets and Liabilities - The total assets of the company as of December 31, 2022, amounted to ¥4,228,985,230.53, an increase from ¥3,542,776,356.35 in 2021[61]. - The total current liabilities increased to ¥2,131,477,615.69 in 2022 from ¥1,813,065,963.52 in 2021[59]. - Long-term borrowings rose significantly to ¥514,007,174.19 in 2022 from ¥110,000,000.00 in 2021[59]. - The company’s non-current assets totaled ¥1,810,327,871.37, up from ¥1,442,884,108.30 in the previous year[61]. - The company’s contract liabilities decreased to ¥167,925,439.99 in 2022 from ¥211,670,809.22 in 2021[59]. Research and Development - The company completed the R&D of the nuclear chemical instrument ball valve, aiming to expand the supply range of ball valves[51]. - The number of R&D personnel decreased by 1.46% from 2021 to 2022, with a total of 99 undergraduates and 1 PhD[53]. - Research and development expenses were ¥47,600,883.50 in 2022, a decrease of 10.4% from ¥53,164,429.70 in 2021[66]. - The company has made substantial investments in R&D for high-end products applicable to both nuclear power and military sectors, anticipating significant market opportunities[157]. Market and Future Outlook - The company’s future outlook includes continued focus on product development and market expansion strategies[21]. - The company aims to expand its market share in the energy and petrochemical sectors, focusing on traditional products like butterfly valves and ball valves[159]. - The company plans to actively explore the LNG market, which is expected to have significant growth potential under national environmental strategies[159]. - The company is positioned to benefit from the increasing demand for comprehensive energy services due to the "dual control" policy on energy consumption[161]. Financial Policies and Practices - The company recognizes research and development costs as expenses during the research phase and capitalizes them during the development phase if certain criteria are met[29]. - The company capitalizes interest expenses incurred on specific borrowings for asset construction, deducting any interest income earned on unutilized funds[26]. - The company recognizes financial assets and liabilities upon entering into financial instrument contracts, ensuring proper classification and measurement[126]. - The company measures inventory at the lower of cost and net realizable value, recognizing impairment for inventory when the cost exceeds the net realizable value[191]. Procurement and Supplier Management - The total procurement amount from the top five suppliers is ¥601,419,971.62, accounting for 26.33% of the annual total procurement[49]. - The largest supplier contributed ¥339,791,900.00, representing 14.88% of the annual procurement total[49]. - The company has established a stable procurement channel and a comprehensive supplier management system, ensuring quality control and supplier evaluation[164]. - The company employs a procurement model that combines "production-based ordering" and "appropriate reserves," optimizing inventory management[164]. Risk and Uncertainty - The company acknowledges the uncertainty in achieving future business plans due to market conditions and operational efforts[132]. - The company will recognize any unrealized losses from internal transactions only if there is evidence of asset impairment[119].