WILLING CORP.(SZ:002667)2023-03-09 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥1.186 billion, representing a 417.95% increase compared to ¥229 million in 2021[18]. - The net profit attributable to shareholders for 2022 was approximately ¥82.39 million, a significant turnaround from a loss of ¥95.92 million in 2021, marking a 185.90% improvement[18]. - The net cash flow from operating activities was approximately ¥37.38 million, compared to a negative cash flow of ¥146.09 million in 2021, reflecting a 125.59% increase[18]. - The basic earnings per share for 2022 was ¥0.36, a recovery from a loss of ¥0.42 per share in 2021, indicating a 185.71% increase[18]. - Total assets increased by 174.60% to CNY 2,608,047,731.43 at the end of 2022 compared to CNY 949,761,792.09 at the end of 2021[20]. - Net assets attributable to shareholders rose by 15.01% to CNY 783,743,105.25 at the end of 2022 from CNY 681,453,252.31 at the end of 2021[20]. - The company reported a net profit attributable to shareholders of CNY -1,934,237.26 in Q4 2022, following profits of CNY 35,653,506.73 in Q3 2022 and CNY 19,627,830.60 in Q2 2022[23]. - Cash flow from operating activities showed a net outflow of CNY -47,474,795.16 in Q4 2022, contrasting with a net inflow of CNY 73,746,231.44 in Q3 2022[23]. Business Operations and Strategy - The company’s main business has shifted to lithium ore selection and lithium salt processing, with lithium-related revenue exceeding 50% of total operating income as of December 31, 2022[18]. - The company has initiated the establishment of a lithium carbonate production line through its subsidiary, Lingneng Lithium Industry[18]. - The company has expanded its operations into the lithium mining sector through the acquisition of Jin Hui Recycling, focusing on lithium mica processing[18]. - The company is focusing on a vertically integrated industrial chain layout in the lithium battery materials sector, including mining, mineral processing, and basic lithium salt production[31]. - The company is actively pursuing strategic transformation by investing in lithium mica mining and establishing a lithium carbonate production line to capitalize on the booming lithium resource market[39]. - The company aims to enhance its market share and core competitiveness through strategic partnerships and vertical integration in the lithium battery supply chain[42]. - The company is committed to establishing a complete industrial chain layout for tailings recovery, mineral processing, and deep processing since 2021[107]. Market Trends and Demand - The lithium battery materials industry is experiencing strong demand growth, driven by favorable policies for new energy vehicles and energy storage[31]. - In 2022, China's new energy vehicle sales surged from 331,000 units in 2015 to 6.883 million units, representing a nearly 21-fold increase and accounting for approximately 25.6% of total vehicle sales[33]. - The global lithium battery shipment volume reached 957.7 GWh in 2022, a year-on-year increase of 70.3%, with automotive power batteries growing by 84.4% to 684.2 GWh[33]. - The lithium carbonate market has seen a rapid price increase due to high demand, driven by the growth of the new energy vehicle and energy storage sectors[39]. Research and Development - The company has accumulated 163 authorized patents, including 23 invention patents, showcasing its strong technological innovation capabilities[44]. - The company has increased its R&D expenses by 218.46% to 48,172,541.01 CNY in 2022, compared to 15,126,873.68 CNY in 2021[69]. - The number of R&D personnel rose by 59.70% to 107 in 2022, accounting for 14.00% of the total workforce[73]. - The company aims to enhance its independent innovation capabilities through research and application of new technologies for tantalum, niobium, and lithium extraction from tailings[106]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, including transitioning heavy machinery to electric and utilizing innovative freezing systems to enhance energy efficiency[196]. - The company actively contributed to poverty alleviation efforts, donating RMB 50,000 to support impoverished villages and providing medical supplies to frontline workers[200]. - The company has established a comprehensive environmental management system, focusing on energy conservation and emissions reduction, with specific monitoring measures in place for air and water quality[198]. Governance and Management - The company has established a governance structure with a board of directors and specialized committees to enhance decision-making efficiency[182]. - The company emphasizes the importance of party leadership in governance, enhancing organizational cohesion and effectiveness through regular theoretical learning and democratic meetings[199]. - The management team has a diverse background in finance and investment, which is expected to contribute to the company's strategic direction[139]. - The company is committed to maintaining strong governance and risk management practices amid leadership changes[142]. Future Outlook and Goals - The company aims to solidify its strategic layout in the renewable energy field to improve core competitiveness and operational scale[197]. - The company plans to enhance market development efforts and strengthen brand influence by building a nationwide sales network and improving after-sales service capabilities[108]. - The company has set a strategic goal to increase its market share in the lithium industry by 9% over the next fiscal year[86]. - The company plans to invest in additional mining resources to support its production capabilities in the coming years[87].