BLIIC(SZ:300135)2023-04-25 16:00Financial Performance - The company reported a loss in 2022 due to rising costs of raw materials such as crude oil and asphalt, with costs reaching historical highs[5]. - The company's operating revenue for 2022 was ¥2,468,625,833.60, an increase of 8.17% compared to ¥2,282,086,647.90 in 2021[25]. - The net profit attributable to shareholders was -¥171,839,425.05, representing a decrease of 133.73% from -¥73,519,763.10 in the previous year[25]. - The cash flow from operating activities increased by 136.48% to ¥208,414,077.74 from ¥88,133,440.03 in 2021[25]. - The total assets at the end of 2022 were ¥2,359,401,511.57, a decrease of 2.63% from ¥2,423,159,512.52 at the end of 2021[25]. - The net assets attributable to shareholders decreased by 14.64% to ¥998,638,020.81 from ¥1,169,962,058.92 in 2021[25]. - The basic and diluted earnings per share were both -¥0.187, a decline of 133.75% from -¥0.080 in 2021[25]. - The company achieved a total operating revenue of CNY 2.47 billion in 2022, representing an 8.17% increase compared to CNY 2.28 billion in 2021[64]. - The net profit attributable to the parent company was a loss of CNY 172 million in 2022, with total assets amounting to CNY 2.36 billion and equity attributable to shareholders at CNY 999 million[58]. Business Strategy and Market Focus - The company plans to adjust its business strategy in 2023, focusing on profitability, cost reduction, and efficiency improvements[6]. - The company aims to expand its market share by further focusing on its core business and enhancing channel distribution[6]. - The company is actively expanding into the domestic forest protection and emergency rescue markets, leveraging its existing capabilities in the aviation sector[40]. - The company is focusing on risk management related to accounts receivable, implementing stricter controls and requiring asset guarantees from clients to mitigate potential bad debt losses[109]. - The company is transitioning its business model to provide a full range of services, including design, production, and logistics, to enhance its competitive edge in the asphalt industry[105]. Research and Development - The company has been focusing on the research, production, and sales of high-grade highway asphalt new materials, while also entering the general aviation industry to diversify revenue streams[36]. - The company has developed a comprehensive R&D system and holds 25 national invention patents, with over 20 additional patents pending approval[47]. - Research and development expenses increased by 10.26% to 58,397,277.26 CNY, indicating a focus on innovation[74]. - The company aims to enhance the performance of modified asphalt through the development of new polymer composite modifiers[78]. - The company is focusing on green and environmentally friendly production processes to meet the growing demand for sustainable road construction materials[76]. Operational Challenges and Risks - The company has recognized impairment losses on receivables and goodwill due to the deteriorating operating conditions of some customers[5]. - The company faces risks from raw material price fluctuations, particularly asphalt derived from crude oil, which can significantly impact procurement costs and gross margins[111]. - The company is facing challenges in rapidly converting new product and technology research into market applications due to regulatory constraints in road construction standards[45]. - The asphalt industry exhibits significant seasonality, with peak sales typically occurring from April to November each year[38]. Corporate Governance and Management - The company has a complete independent business system, ensuring operational independence from its controlling shareholders in terms of assets, personnel, finance, and operations[118]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[116]. - The company appointed Zeng Qingbo as the Vice General Manager and Chief Financial Officer on April 29, 2022, following the resignation of Shu Yangjie[125]. - The company’s supervisory board experienced a change with the resignation of Zeng Qingbo due to work adjustments[124]. - The company has maintained stability in its executive team with no significant changes in shareholding or management roles[126]. Shareholder and Equity Information - The total number of shares for Jiangsu Baoli International Investment Co., Ltd. is 921,600,000, representing 100% ownership[195]. - The largest shareholder, Zhou Dehong, holds 30.65% of the shares, amounting to 282,440,928 shares[198]. - The company has a total of 36,937 shareholders as of the end of the reporting period[197]. - The company has not reported any changes in the shareholding structure of the controlling shareholders[200]. Future Outlook - The company expects infrastructure investment growth in 2023 to be around 8%-10%, despite a high base in 2022[104]. - The company anticipates that by 2025, the total highway mileage in China will exceed 5.5 million kilometers, driven by ongoing infrastructure investments[103]. - The company provided guidance for 2023, projecting a revenue increase of 15% to 1.725 billion, driven by new product launches and market expansion efforts[135].