江苏神通(002438) - 2022 Q4 - 年度财报

Operational Achievements - The company’s subsidiary, Ruifan Energy Technology Co., Ltd., has successfully put into operation a 135MW ultra-supercritical gas-fired power generation unit, which has been running continuously for 168 hours[1]. - The company has established a strategic partnership with Hebei Jinxin Steel Group for energy management projects, indicating a focus on market expansion[1]. - Jiangsu Shentong Valve Co., Ltd. is actively involved in technology development and consulting services, enhancing its competitive edge in the valve and energy equipment market[89]. - The company is focusing on expanding its market presence in the renewable energy sector through its subsidiary Nantong Shentong New Energy Technology Co., Ltd., which reported a revenue of CNY 7,237,038.64 million[92]. Financial Performance - Total operating revenue for 2022 was CNY 1,955,053,960.31, an increase from CNY 1,909,723,752.50 in 2021, representing a growth of approximately 2.4%[174]. - Net profit for 2022 was CNY 227,550,314.41, compared to CNY 253,397,358.39 in 2021, reflecting a decrease of approximately 10.2%[177]. - The company reported a significant increase in long-term borrowings, which rose to CNY 514,007,174.19 from CNY 110,000,000.00, indicating a growth of approximately 367.3%[165]. - The total liabilities reached CNY 2,846,701,618.59, up from CNY 1,996,400,294.94, reflecting a rise of approximately 42.7%[167]. Share Capital and Ownership - The company issued 21,781,305 shares of A-shares at a price of RMB 17.01 per share, raising a total of RMB 370,499,998.05, with a net amount of RMB 361,870,676.09 after deducting issuance costs[17]. - The total number of shares increased from 485,756,156 to 507,537,461, with limited shares increasing by 150 and unrestricted shares increasing by 21,781,155[8]. - The largest shareholder, Ningbo Juyuan Ruili Investment Partnership, holds 16.27% of the shares, totaling 82,578,557 shares[54]. - The total number of common shareholders at the end of the reporting period is 21,938, an increase from 19,313 at the end of the previous month[54]. Cash Flow and Investments - Operating cash inflow increased by 7.48% to ¥1,455,893,281.47, while operating cash outflow rose by 4.59% to ¥1,209,052,121.66, resulting in a net cash flow from operating activities of ¥246,841,159.81, up 24.29%[23]. - Investment cash inflow surged by 112.36% to ¥2,314,834,805.69, while investment cash outflow increased by 114.98% to ¥3,174,105,244.91, leading to a net cash flow from investing activities of -¥859,270,439.22, a decline of 122.38%[23]. - The company launched an industrial development fund with a total scale of 100 million yuan, with 80 million yuan contributed by the company, aimed at investing in various projects[146]. - The company invested CNY 1,951,131,225.39 in various projects, which is a significant rise from CNY 621,872,940.05 in the previous year, indicating a growth of 213.5%[190]. Research and Development - The company employed 241 R&D personnel, representing a 3.43% increase from the previous year, with R&D personnel accounting for 15.97% of the total workforce[119]. - Research and development expenses for 2022 were CNY 74,713,036.31, a slight decrease from CNY 79,718,404.02 in 2021, indicating a reduction of about 6.3%[177]. - The company aims to enhance its competitive advantage in environmental protection, energy-saving, and new energy equipment through new technology and product development[101]. Regulatory and Compliance - The audit opinion for the financial statements was a standard unqualified opinion, indicating compliance with accounting standards[112]. - The company has not disclosed any issues regarding the use of raised funds, reflecting compliance with financial regulations[85]. - The company’s high-tech enterprise recognition is expected to enhance its competitive advantage and reduce tax burdens[3]. Subsidiaries and Acquisitions - The company established two subsidiaries: Rizhao Ruifan Energy Equity Investment Partnership and Shentong Semiconductor Technology (Nantong) Co., Ltd., to align with its strategic planning for long-term development[98]. - Jiangsu Shentong Valve Co., Ltd. acquired 100% equity of Wuxi Flange Forging Co., Ltd. through a combination of non-public share issuance and cash payment, completing the transfer by the end of 2015[138]. - The company signed a framework agreement to acquire controlling interest in Dewei Valve Casting (Suzhou) Co., Ltd., combining share acquisition and cash capital increase[102]. Market Outlook - The company anticipates continued growth in the metallurgical industry, driven by increasing demand and competitive dynamics[199]. - The steel industry is a pillar of China's national economy, supporting sustained rapid economic development with abundant steel production capacity[199].