JOINTAS(SZ:002909)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥1.45 billion, a decrease of 13.44% compared to ¥1.68 billion in 2021[31]. - The net profit attributable to shareholders for 2022 was approximately ¥10.16 million, down 79.95% from ¥50.69 million in 2021[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥2.81 million, a decline of 93.51% from ¥43.23 million in 2021[31]. - The basic earnings per share for 2022 was ¥0.027, representing an 80.15% decrease from ¥0.136 in 2021[31]. - The total assets at the end of 2022 were approximately ¥1.89 billion, a slight increase of 0.04% from ¥1.89 billion at the end of 2021[31]. - The net assets attributable to shareholders at the end of 2022 were approximately ¥854.32 million, an increase of 1.39% from ¥842.57 million at the end of 2021[31]. - The cash flow from operating activities for 2022 was negative at approximately -¥3.04 million, a marginal increase in loss of 0.43% compared to -¥3.03 million in 2021[31]. - The company reported a total revenue of 7,355,929.69 yuan for the year, with a slight decrease from 7,460,781.74 yuan in the previous year, indicating a year-over-year decline of approximately 1.4%[37]. - The company reported a significant decrease in the sales volume of water-based coatings, which fell by 21.37% to 22,807.42 tons[147]. - The total operating revenue for 2022 was ¥1,450,380,578.89, a decrease of 13.44% compared to the previous year[141]. - The revenue from organic silicone sealants was ¥902,907,592.40, accounting for 62.25% of total revenue, with a year-on-year decrease of 3.77%[141]. - The revenue from water-based coatings dropped significantly by 36.69% to ¥258,927,620.80, representing 17.85% of total revenue[141]. - The gross margin for organic silicone sealants increased by 2.90% year-on-year, while the gross margin for water-based coatings rose by 2.24% year-on-year[98]. Innovation and R&D - The company emphasizes the importance of innovation as a driving force for competition and economic efficiency, highlighting that only a small percentage of existing companies successfully upgrade through innovation during industry transitions[6]. - The company acknowledges the risks associated with innovation and emphasizes the need for careful consideration before pursuing new developments[13]. - The company’s management highlights the importance of addressing internal inertia to foster a culture of continuous innovation among employees[7]. - The company has developed several patented technologies for its main products, enhancing its competitive edge in the market[59]. - The company is committed to R&D for new products and technologies to enhance its market position and expand its product offerings[67]. - The company has obtained 11 patents related to water-based coatings for 3C surface treatment, reflecting its commitment to innovation in high-end consumer electronics[115]. - The company has a total of 236 patent applications, with 124 patents granted, including 92 invention patents, showcasing its strong R&D capabilities[120]. - The company has established multiple provincial-level R&D platforms and has a dedicated R&D team of 150 personnel, including 7 PhDs and 47 Masters[119]. Market Position and Strategy - The company has maintained a market share of 50% in its niche markets since 1994, focusing on improving product quality and service rather than increasing market share[13]. - The company emphasizes the need for strategic foresight and wisdom in maintaining competitive advantages without seeking monopolistic positions[12]. - The company aims to increase its market share through strategic expansions and potential acquisitions in the future[67]. - The company is actively expanding into new sectors such as steel structure manufacturing, machinery, and renewable energy, aiming to cultivate future growth points[95]. - The company has established partnerships with major clients in the automotive sector, including Wuling Motors and BYD, enhancing its market presence in the new energy vehicle industry[102]. - The company is committed to expanding its international market presence, having established distribution networks in over 30 countries and regions[104]. - The company is leveraging online sales channels and platforms to enhance distribution and reach in the construction adhesive market[197]. Environmental Commitment - The company emphasizes environmentally friendly products, ensuring safety and non-toxicity in its offerings[59]. - The company reported a significant focus on water-based coatings, highlighting their environmental benefits such as reduced VOC emissions and improved safety during application[75]. - The company’s water-based coatings have received multiple green product certifications, contributing to a cumulative reduction of over 40,000 tons of VOCs over the past decade[114]. - The company is committed to green development, aligning with national goals for carbon neutrality and sustainability in its operations[195]. - The company has been recognized as a national "green factory" and received several awards for contributions to low-carbon and energy-saving initiatives[139]. Operational Challenges - The company’s future outlook includes potential risks related to macroeconomic conditions and market fluctuations, which could impact its operational plans[17]. - The company reported a negative cash flow from operating activities in all four quarters of 2022, with the highest loss recorded in Q1 at approximately -¥61.72 million[35]. - The company has actively promoted the implementation of fundraising projects despite delays caused by macroeconomic factors and market conditions[185]. - The project for producing 15,000 tons of neutral silicone sealant and 15,000 tons of modified silicone sealant has been postponed to April 30, 2023, due to market conditions and project implementation challenges[184]. - The project for producing 15,000 tons of double-component silicone rubber and 8,000 tons of vinyl silicone oil is in the initial production phase, with low capacity utilization leading to higher depreciation and amortization costs[185]. Governance and Accountability - The company has committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming the integrity of the annual report[16]. - The company’s board of directors has fully participated in the review of the annual report, ensuring governance and accountability[16]. - The company has established a comprehensive supplier evaluation system to ensure the quality and reliability of raw materials, which includes a minimum of 1-3 alternative suppliers for each material[89]. Future Outlook - The company aims to achieve an annual output value exceeding 2 billion yuan in 2023, focusing on high-quality development amidst economic challenges[196]. - The adhesive industry in China is projected to have an average annual production growth rate of 4.2% and a sales growth rate of 4.3% during the 14th Five-Year Plan period[194]. - The company plans to maintain a research and development investment ratio of no less than 4% in 2023, enhancing its innovation capabilities and optimizing technology resource allocation[199]. - The company is advancing the construction of its new materials industrial base in Anhui, with a target for trial production by the end of May 2024[200].