Dayu Irrigation(SZ:300021)2023-04-10 16:00Financial Performance - The company's operating revenue for 2022 was ¥3,401,038,875.18, a decrease of 3.24% compared to ¥3,515,088,577.67 in 2021[20]. - The net profit attributable to shareholders for 2022 was ¥97,057,693.13, down 28.27% from ¥135,300,594.61 in 2021[20]. - The cash flow from operating activities increased significantly by 120.86% to ¥377,013,134.18 in 2022, compared to ¥170,703,086.95 in 2021[20]. - The total assets at the end of 2022 reached ¥6,951,784,865.45, reflecting a growth of 9.91% from ¥6,324,984,404.84 at the end of 2021[20]. - The basic earnings per share decreased by 32.69% to ¥0.1149 in 2022, down from ¥0.1707 in 2021[20]. - The company reported a net profit excluding non-recurring gains and losses of ¥89,398,707.16 for 2022, a decline of 29.18% from ¥126,226,378.75 in 2021[20]. - The weighted average return on equity for 2022 was 5.00%, down from 8.08% in 2021, indicating a decrease of 3.08%[20]. - The company achieved operating revenue of 3,401.04 million yuan, a decrease of 3.24% compared to the previous year[65]. - The net profit attributable to shareholders was 97.06 million yuan, down 28.27% year-on-year[65]. - The net cash flow from operating activities increased by 120.86% to 377.01 million yuan[65]. Business Strategy and Focus - The company is focused on the digital water conservancy industry, integrating modern technologies such as IoT, cloud computing, and AI to enhance efficiency and effectiveness in water management[30]. - The digital water conservancy sector is currently transitioning from resource-based to digital development, emphasizing the need for smart solutions and decision-making capabilities[31]. - The company aims to enhance its comprehensive solution capabilities to meet the increasing market demand for integrated project implementation[35]. - The company is positioned as a comprehensive solution service provider in digital water conservancy, integrating planning, investment, product manufacturing, and operation maintenance[35]. - The company is actively involved in the development of digital twin water conservancy systems, which are essential for modern water management and disaster prevention[33]. - The company is committed to promoting the integration of digital technology in water resource management to enhance operational capabilities[40]. - The company aims to complete the construction of 45 million mu of new high-standard farmland and the transformation of 35 million mu in the annual task for 2023[40]. - The company plans to implement a series of major water conservancy projects, with a focus on sustainable development and attracting social capital investment[40]. Research and Development - The company has a research and development team of approximately 600 people focused on digital twin technology applications in water conservancy and agriculture[36]. - The company emphasizes a research and development model driven by market demand and industry trends, focusing on digital and intelligent technology integration for product innovation[56]. - The company increased its R&D investment significantly, resulting in a substantial rise in R&D expenses, which impacted net profit[66]. - The number of R&D personnel increased to 223 in 2022, a 223.19% increase from 69 in 2021, representing 8.29% of the total workforce[102]. - R&D investment amounted to ¥138,371,600.20 in 2022, accounting for 4.07% of operating revenue, up from 3.42% in 2021[102]. Market and Competitive Landscape - The company has established a comprehensive marketing system covering all provinces outside Hong Kong, Macau, and Taiwan, enhancing its national marketing network[75]. - The company anticipates increased market competition as more social capital enters the water conservancy and agricultural service sectors[135]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[155]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in sales in that region over the next two years[173]. Governance and Compliance - The company received the highest grade A in the Shenzhen Stock Exchange's 2021 information disclosure assessment, indicating strong transparency and governance practices[147]. - The company operates independently from its controlling shareholder, maintaining a complete business system and the ability to operate independently in the market[149]. - The company has established an independent financial management center with dedicated financial personnel, ensuring a separate financial accounting system and the ability to make independent financial decisions[151]. - The company has a well-defined governance structure with a strategic development center, financial management center, and various functional management departments operating independently[151]. - The company is committed to strict compliance with its internal governance rules and has established committees to oversee compensation and strategic planning[194]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 15% for 2023, aiming for 607.1 million in total revenue[155]. - The company plans to enhance its supply chain management, which is expected to improve delivery times by 15%[173]. - The company aims to enhance its operational maintenance capabilities, recognizing its unique advantages in this area to drive profit growth[134]. - The company plans to focus on digital irrigation construction, emphasizing the development of a "smart irrigation brain" and SaaS products to enhance water management efficiency[131]. Awards and Recognition - The company has received multiple awards, including the "Gansu Province Quality Award" and "China Quality Award Nomination Award" in 2022[74]. - The company has been recognized for its contributions to water-saving irrigation technology, receiving several provincial and national awards[166]. - The company was recognized for its digital twin projects, which have been included as exemplary applications by the Ministry of Water Resources[67]. Subsidiaries and Investments - The company reported a net profit of 128.23 million yuan from its subsidiary, Gansu Dayu Water Saving Group, with a revenue of 2.64 billion yuan[124]. - The company’s subsidiary, Dayu Design Consulting Group, generated a net profit of 39.88 million yuan with a revenue of 329.70 million yuan[124]. - The company’s subsidiary, Tianjin Dayu Water Saving, reported a net profit of 5.29 million yuan with a revenue of 535.75 million yuan[124]. - The company established a new subsidiary, Beijing Yuzun Engineering Design Co., Ltd., during the reporting period, which had no significant impact on overall operations[124].