Hitevision (SZ:002955)2023-06-15 16:00Financial Performance - The total revenue for 2022 was not explicitly mentioned, but the company emphasized the importance of accurate financial reporting and risk management in its future outlook [4]. - The company's operating revenue for 2022 was ¥4,549,468,035.35, a decrease of 21.71% compared to ¥5,811,414,894.16 in 2021 [21]. - Net profit attributable to shareholders increased by 134.44% to ¥396,104,131.79 from ¥168,960,513.99 in the previous year [21]. - The net profit after deducting non-recurring gains and losses was ¥318,001,730.59, up 141.10% from ¥131,896,678.37 in 2021 [21]. - Basic earnings per share increased by 134.72% to ¥1.69 from ¥0.72 in the previous year [21]. - Total assets at the end of 2022 were ¥4,707,377,730.36, a slight decrease of 0.09% from ¥4,711,430,415.18 at the end of 2021 [21]. - Net assets attributable to shareholders increased by 13.25% to ¥3,555,922,408.07 from ¥3,139,762,200.90 in 2021 [21]. - The total revenue for the year 2022 was reported at 65,492,003 million, with a decrease of 129,917 million compared to the previous year [153]. - The company reported a total revenue of approximately 2.86 billion CNY for the year, with a net profit of around 318 million CNY, reflecting a significant performance in the education technology sector [118]. Dividend and Profit Distribution - The company reported a cash dividend of 12.82 RMB per 10 shares (including tax) for the 2022 profit distribution plan [4]. - The company proposed a cash dividend of RMB 12.82 per 10 shares, totaling RMB 299,979,110.61, which represents 100% of the distributable profit of RMB 1,007,400,034.18 for the year 2022 [192]. - The company has established a clear profit distribution policy, stating that no dividends will be distributed for the 2021 fiscal year, with undistributed profits carried forward to the next year [189]. - The company did not propose any cash dividend distribution plan despite having positive profits available for distribution [191]. Research and Development - The company is actively involved in research and development, although specific new products or technologies were not detailed in the provided content [4]. - R&D investment amounted to ¥233,456,222.92 in 2022, a decrease of 7.47% from ¥252,304,438.11 in 2021 [85]. - R&D investment accounted for 5.13% of operating revenue, up from 4.34% in the previous year, reflecting a 0.79% increase [86]. - The number of R&D personnel decreased by 19.54% to 486 in 2022 from 604 in 2021 [85]. - Capitalized R&D investment increased significantly by 506.41% to ¥6,567,869.03, representing 2.81% of total R&D investment [86]. - The company is committed to enhancing its hardware R&D capabilities and optimizing manufacturing processes to improve product quality and competitiveness [122]. - Research and development expenses increased by 30% in 2022, focusing on AI and machine learning technologies [159]. Corporate Governance - The company has a well-defined corporate governance structure, ensuring accountability and compliance with regulations [4]. - The board of directors consists of 9 members, including 3 independent directors, and held 7 meetings during the reporting period, adhering to legal and regulatory requirements [139]. - The supervisory board comprises 3 members, including 2 employee representatives, and conducted 5 meetings, ensuring compliance with relevant regulations [141]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management to enhance management performance [141]. - The company maintains complete independence in assets, personnel, finance, organization, and business operations, ensuring no competition or unfair transactions with actual controllers [146]. - The company has established an independent financial department with a complete accounting system, allowing for autonomous financial decision-making and tax compliance [147]. - The company has established a robust corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, ensuring compliance with legal and regulatory requirements [148]. Market Strategy and Expansion - The company continues to focus on the education industry, providing educational information technology products and smart education solutions [32]. - The company is focused on expanding its international market presence, with its education information products being among the top brands in North America, EMEA, and APAC regions [56]. - The company plans to deepen its focus on the K12 education sector while expanding into higher vocational and early childhood education markets, aiming to enhance market share and product competitiveness [120]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in regional sales by 2023 [159]. - The company is exploring potential mergers and acquisitions to further enhance its market position and product offerings [155]. Risk Management - The company has a comprehensive risk management strategy outlined in the management discussion section, focusing on potential operational risks [4]. - The company has established internal control systems for foreign exchange derivative transactions to manage risks effectively [103]. - The company has a risk management framework in place to address market, liquidity, credit, operational, and legal risks associated with derivative trading [103]. - The company acknowledges the risk of raw material price fluctuations affecting profitability and plans to enhance supply chain management to mitigate this risk [129]. - The company faces risks related to national education policy changes, which could impact operational performance if support diminishes [125]. Product Development and Innovation - The company has developed a comprehensive range of educational information technology hardware products, including smart interactive panels and blackboards, catering to various educational levels with sizes ranging from 55 inches to 98 inches [42]. - The upgraded smart interconnected blackboard incorporates eye protection technologies and features such as automatic memory of teaching content, significantly enhancing the teaching experience [43]. - The company launched several new products, including the 2022 education large screen and the overseas newline A311D2 platform product, enhancing market competitiveness [84]. - The company is developing an all-in-one interactive large screen with integrated recording functions, aimed at expanding its business scope [84]. - The company has launched new educational products, including smart interactive blackboards and teaching systems, enhancing user experience and driving sales growth in the education sector [66][67]. Financial Management - The company reported a significant reduction in financial expenses, with a decrease of 181.14% due to foreign exchange gains [83]. - The total amount of funds raised through stock issuance was RMB 169,158 million, with RMB 132,661 million utilized by the end of the reporting period [106]. - The company has not engaged in any securities investments during the reporting period, focusing instead on other investment strategies [100]. - The company has a remaining balance of RMB 4,300.28 million in the special account for raised funds as of December 31, 2022 [107]. - The company has established a dedicated intellectual property management department to enhance risk control and management of both domestic and international intellectual property issues [134]. Employee and Management - The total number of employees at the end of the reporting period is 2,231, with 81 in the parent company and 2,150 in major subsidiaries [182]. - The company has implemented a structured training program for over 100 recent graduates to accelerate talent development [185]. - The company emphasizes a performance-based compensation system to attract and retain talent, alongside providing additional benefits such as high-end medical insurance [184]. - The total pre-tax remuneration for directors, supervisors, and senior management amounted to CNY 887.49 million [172]. - The company has established a balanced value distribution system through its incentive plans to enhance employee motivation [200].