LMC(SZ:002921)2023-04-17 16:00Financial Performance - The company's operating revenue for 2022 was CNY 1,229,792,918.33, representing a 1.59% increase from CNY 1,210,575,302.11 in 2021[6]. - The net profit attributable to shareholders decreased by 65.26% to CNY 25,775,588.38 in 2022 from CNY 74,201,353.19 in 2021[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 20,724,973.19, down 67.16% from CNY 63,103,915.17 in the previous year[6]. - Basic and diluted earnings per share fell by 71.83% to CNY 0.20 from CNY 0.71 in 2021[6]. - The gross profit margin for the industrial sector was 15.17%, reflecting a decrease of 5.69% compared to the previous year[48]. - The company reported a significant decline in sales volume for cast iron products, down 21.53% to 37,498.48 tons, and production volume decreased by 32.94% to 34,751.54 tons[49]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year 2022, representing a year-over-year growth of 20%[131]. - The company reported a net profit of 15.33 million RMB from Shandong Liancheng Electromechanical Technology Co., Ltd. during the reporting period[95]. Cash Flow and Dividends - The company plans to distribute a cash dividend of RMB 3.50 per 10 shares to all shareholders, based on a total share capital of 127,380,747 shares, excluding 4,263,100 shares held in the repurchase account[4]. - The cash flow from operating activities increased significantly to CNY 103,036,588.54, a 12,599.80% rise compared to CNY 811,324.36 in 2021[6]. - The net cash flow from operating activities surged by 12,599.80% to ¥103,036,588.54 in 2022, compared to ¥811,324.36 in 2021[64]. - The company reported a cash dividend of 3.50 yuan per 10 shares, with a total cash dividend amounting to 44,583,261.45 yuan, representing 100% of the total profit distribution[158]. - The total distributable profit for the company was 130,596,591.56 yuan, indicating a strong profitability during the reporting period[158]. Business Operations and Strategy - The company operates in the metal products industry, focusing on the R&D, design, production, and sales of precision mechanical components[27]. - The company has established a complete manufacturing system including mold manufacturing, casting, precision machining, surface treatment, and final performance testing, providing one-stop services for domestic and international clients[34]. - The company is focusing on new product development and customer acquisition, enhancing its market share through precision marketing and rapid delivery[41]. - The company is actively participating in the consolidation of the industry, aiming to increase its scale and competitive advantage in response to rising industry concentration[36]. - The company aims to enhance its core competitiveness by extending and integrating the upstream and downstream industrial chains while maintaining stable growth in its main business[103]. - The company plans to invest 6,000 million RMB in the "Technical Center Expansion Project," with a completion deadline extended to December 31, 2022[88]. - The company is exploring new fixed methods for filters to reduce waste rates and production costs[61]. Research and Development - The company emphasizes technological development, with its R&D department recognized as a provincial-level technology center, enhancing its product development capabilities through collaborative research with clients[38]. - Research and development expenses rose by 3.42% to CNY 28,737,289.09 in 2022, compared to CNY 27,786,638.87 in 2021[59]. - R&D investment amounted to ¥28,737,289.09 in 2022, a 3.42% increase from ¥27,786,638.87 in 2021, representing 2.34% of operating revenue[62]. - The company plans to increase R&D investment to improve technological innovation capabilities and establish a higher-level technology innovation and talent platform[104]. - The company has allocated 100 million RMB for research and development in 2023, focusing on innovative manufacturing solutions[131]. Market and Sales - The company expanded its international sales, with exports accounting for 51.60% of total revenue, up from 38.39% in the previous year, representing a growth of 36.53%[46]. - The company is focusing on the recycling of metals and energy-saving technologies in the casting industry, aligning with global trends towards low-carbon technology and circular economy[35]. - The company aims to improve production capacity significantly through fundraising investment projects, enhancing market competitiveness despite market uncertainties[108]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[131]. Governance and Compliance - The company adheres to legal and regulatory requirements in its governance structure, ensuring transparency and fairness for all shareholders[113]. - The company has established a clear governance structure with a board of directors and supervisory board, ensuring effective internal controls and independence from major shareholders[118]. - The company has a structured remuneration decision-making process involving the board and shareholders, ensuring transparency and accountability[138]. - The company has established a robust internal control system in compliance with corporate laws and regulations[118]. - The company has implemented a performance evaluation mechanism linked to individual performance and company results for its management team[114]. Environmental and Social Responsibility - The company has implemented strict compliance with various environmental protection laws and standards, including the "Environmental Protection Law of the People's Republic of China" and local regulations[186]. - The company has invested in advanced technology and equipment to continuously explore and innovate in energy conservation and emission reduction[195]. - The company has established a comprehensive occupational health and safety management system, certified with ISO45001:2018 and ISO14001, and conducts annual health check-ups for employees[195]. - The company has committed to improving transparency and communication with investors through various channels, ensuring compliance with legal disclosure requirements[194]. - The company faced an administrative penalty of 218,750 RMB for environmental violations, which included issues with online monitoring equipment and compliance with pollution response measures[191].