TQM(SZ:002510)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥2,552,168,358.71, representing a 35.82% increase compared to ¥1,879,042,866.70 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥80,184,453.73, a significant recovery from a loss of ¥211,888,430.90 in 2021, marking a 137.84% improvement[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥57,273,623.57, up 122.42% from a loss of ¥255,478,827.69 in the previous year[21]. - The basic earnings per share for 2022 was ¥0.09, compared to a loss of ¥0.22 per share in 2021, reflecting a 140.91% increase[21]. - Total assets at the end of 2022 amounted to ¥5,748,083,318.14, a 15.85% increase from ¥4,961,818,588.74 at the end of 2021[21]. - The net assets attributable to shareholders increased by 5.49% to ¥2,021,025,443.79 at the end of 2022, compared to ¥1,915,813,754.31 at the end of 2021[21]. - The company reported a net cash flow from operating activities of -¥9,563,118.44, a decline of 105.83% from ¥164,144,557.05 in 2021[21]. - The weighted average return on net assets for 2022 was 4.07%, a significant recovery from -10.62% in 2021, indicating improved profitability[21]. Market and Sales Performance - In Q1 2022, the company reported revenue of approximately $302.54 million, which increased to $997.39 million by Q4 2022, reflecting a significant growth trend throughout the year[26]. - The net profit attributable to shareholders showed a decline in Q4 2022, reporting a loss of approximately $30.25 million, compared to a profit of $66.63 million in Q3 2022[26]. - The company experienced a net cash flow from operating activities of approximately $45.62 million in Q4 2022, recovering from a negative cash flow of approximately $96.02 million in Q1 2022[26]. - The automotive industry in China saw a production and sales increase of 3.4% and 2.1% respectively in 2022, with new energy vehicles experiencing a remarkable growth of 96.9% in production[32]. - The sales volume of stamping parts decreased by 1.17% year-on-year, with a notable decline in SUV parts sales by 30.71%[36]. - The company reported a significant increase in sales in the East China market, with a growth rate of 89.04% in stamping parts sales compared to the previous year[36]. - The mold business generated sales revenue of CNY 1,215.97 million, an increase of 51.99% compared to the previous year, with a backlog of orders amounting to CNY 2.685 billion[42]. - The stamping business reported sales revenue of CNY 1,097.79 million, up 25.59% year-on-year, despite a decline in gross margin due to price pressures from OEMs and rising raw material costs[43]. - The aviation segment achieved sales revenue of CNY 64.40 million, with a net profit of CNY 18.02 million, reflecting a year-on-year growth of 65.25%[44]. Research and Development - The company holds 132 software copyrights and 239 patents, including 34 invention patents, enhancing its technological capabilities[39]. - The company is investing in a new stamping and welding assembly project in Hefei to enhance its capabilities in supporting electric vehicle manufacturers[43]. - The company has been focusing on the development of new products and technologies to meet the growing demand for high-end and new energy vehicle molds[34]. - R&D investment increased by 41.06% to CNY 95,888,028 in 2022, representing 3.76% of operating revenue[62]. - The company completed the development of an automatic simulation platform for automotive cover molds, improving simulation efficiency by three times[60]. - The company is focusing on enhancing offline programming capabilities for robotic laser quenching, which is expected to double production efficiency[60]. - New welding techniques are projected to reduce annual repair costs by over ¥120,000, addressing issues in the production process[60]. Risks and Challenges - The company faces risks including economic cyclical adjustments affecting the automotive mold industry, market risks, and potential bad debts from accounts receivable[3]. - The overall competitive landscape in the mold industry has intensified, driven by advancements in technology and increased production capacity among domestic manufacturers[34]. - The company faces foreign exchange risks due to its export sales being predominantly settled in USD or EUR, which could impact its operating performance if currency fluctuations occur[91]. - The automotive mold industry is experiencing a shortage of high-level technical talent, which may hinder the company's growth despite its strong management team and talent structure[92]. - Monthly revenue and profit are uneven, influenced by the uncertainty of new model development plans from downstream automotive manufacturers[89]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations, and protecting investor rights[97]. - The board of directors consists of 5 members, including 2 independent directors, meeting legal requirements for governance[98]. - The company has implemented a performance evaluation mechanism linking executive compensation to operational performance[99]. - The company prioritizes investor relations management, providing transparent communication and ensuring investors' right to information[99]. - The company adheres to strict information disclosure obligations, ensuring timely and accurate reporting to all shareholders[99]. - The company operates independently from its shareholders in terms of business, assets, personnel, and finance, ensuring a complete separation and independent operational capability[101]. Employee and Management Structure - The total number of employees at the end of the reporting period is 3,219, with 966 from the parent company and 2,253 from major subsidiaries[122]. - The professional composition includes 2,029 production personnel, 62 sales personnel, 845 technical personnel, 29 financial personnel, and 254 administrative personnel[122]. - The company has a complete human resources department with strict recruitment procedures, ensuring all employees are hired through standardized processes[101]. - The total remuneration for directors, supervisors, and senior management amounted to 3 million yuan, with the highest individual remuneration being 552,500 yuan for the Deputy General Manager[113]. Financial Management and Investments - The company has committed to invest a total of RMB 46,073.69 million in fundraising projects, with a cumulative investment of RMB 15,461.09 million as of the report date, representing 10.16% of the planned investment progress[79]. - The company plans to extend the construction period of the "Large High-Quality Mould Flexible Production Line Intelligent Expansion and Upgrade Project" to June 30, 2023, due to economic environment impacts and adjustments in project costs[79]. - The company has utilized RMB 18,333.10 million of raised funds to replace pre-invested amounts in fundraising projects and related issuance expenses[80]. - The company has also approved the temporary use of idle raised funds amounting to RMB 2.8 billion for working capital, with a return commitment within 12 months[80]. - The company has a significant amount of accounts receivable, primarily from large, reputable automotive manufacturers, which mitigates the risk of bad debts[91]. Shareholder Information - The total number of shares increased from 941,616,619 to 941,645,290, with an increase of 28,671 shares due to convertible bonds conversion[192]. - The company had a total of 66,590 shareholders at the end of the reporting period[200]. - The largest shareholder, Hu Jingsheng, holds 4.79% of the shares, totaling 45,144,546 shares[200]. - The company has a diverse shareholder structure with multiple shareholders holding over 1% of the total shares[200].