FOET(SZ:300173)2023-04-21 16:00Financial Performance - The company achieved total operating revenue of ¥1,410,682,473.41, an increase of 21.15% compared to the previous year[4]. - The operating loss was ¥276,155,632.94, a reduction in loss of 19.43% year-on-year[4]. - The total profit loss amounted to ¥283,914,477.36, a reduction in loss of 16.79% compared to the previous year[4]. - The net profit attributable to shareholders was ¥-305,310,324.77, a reduction in loss of 5.54% year-on-year[4]. - The company's operating revenue for 2022 was ¥1,410,682,473.41, representing a 21.15% increase compared to ¥1,164,422,623.97 in 2021[27]. - The net profit attributable to shareholders was -¥305,310,324.77, showing a 5.54% improvement from -¥323,231,592.62 in the previous year[27]. - The net cash flow from operating activities was ¥108,689,038.26, a significant increase of 151.27% compared to -¥212,005,219.73 in 2021[27]. - The total assets at the end of 2022 amounted to ¥4,441,824,095.19, a decrease of 7.25% from ¥4,788,925,421.87 at the end of 2021[27]. - The net assets attributable to shareholders decreased by 28.63% to ¥850,001,258.77 from ¥1,191,044,750.34 in 2021[27]. - The basic earnings per share for 2022 was -¥0.42, an improvement of 4.55% from -¥0.44 in 2021[27]. - The company reported a quarterly operating revenue of ¥608,847,997.84 in Q3 2022, which was the highest among the four quarters[28]. - The net profit attributable to shareholders in Q4 2022 was -¥311,690,760.40, indicating a significant loss during that period[28]. - The weighted average return on net assets was -30.45% for 2022, compared to -23.90% in 2021[27]. - The company's revenue after deducting non-recurring gains and losses was ¥1,404,668,852.10 for 2022, up from ¥1,159,548,981.70 in 2021[27]. - The company reported a government subsidy of ¥15,278,477.66, an increase of 27.5% compared to ¥11,939,962.51 in 2021[32]. - The company experienced a loss from non-current asset disposal amounting to ¥3,348,953.55 in 2022, contrasting with a gain of ¥1,722,818.29 in 2021[32]. - The company’s debt restructuring loss decreased to ¥2,160,000.00 in 2022 from ¥9,683,172.22 in 2021, indicating an improvement in financial management[32]. Market and Industry Trends - The global electric vehicle (EV) market grew by 55% in 2022, reaching 10.1 million units, with China's EV sales increasing by 96.9% year-on-year[37]. - The global consumer lithium battery market is projected to reach $27.33 billion by 2025, with a compound annual growth rate (CAGR) of 20.27% from 2020 to 2025[39]. - The storage battery sector is expected to see a compound growth rate exceeding 70% over the next three years, with global installed capacity approaching 200GWh in 2023[38]. - In 2022, global lithium-ion battery shipments reached 957.7 GWh, a year-on-year increase of 70.3%, with automotive power battery shipments growing by 84.4% to 684.2 GWh[58]. - The total export value of lithium batteries in China for 2022 was 342.65 billion yuan, reflecting an 86.7% year-on-year growth[59]. - The lithium battery equipment market in China reached approximately 86.09 billion, showing a year-on-year growth of over 30% in 2022[115]. - The domestic power battery installation capacity is projected to reach 700 GWh by 2025, driven by the growing demand for electric vehicles[113]. Research and Development - The company plans to enhance product quality and performance while adjusting product structure to improve market share[5]. - The company will increase R&D investment to enhance competitiveness through technological innovation[5]. - The company aims to strengthen R&D capabilities by collaborating with renowned institutions and teams to ensure continuous product technology updates[8]. - The company invested nearly 90 million yuan in R&D during the reporting period, focusing on technological upgrades for multiple core product projects[60]. - The company plans to invest in research and development to drive future growth and innovation in its product lines[152]. - The company is investing 100 million RMB in R&D for new technologies in the next fiscal year[173]. - The newly developed product, X-Ray detection machine, enhances electrode alignment detection with high efficiency and low misjudgment rate, utilizing deep learning algorithms for image analysis[44]. - The fully automatic power soft-pack sealing machine won the 2022 High-tech Lithium Battery Golden Ball Award, significantly improving safety in the packaging process of lithium batteries[45]. - The company has completed the development of several key R&D projects aimed at enhancing its competitiveness in the new energy sector[84]. Operational Strategy - The company plans to gradually reduce external financing and has increased the use of commercial bills to manage cash flow needs[87]. - The company aims to optimize its business structure by divesting underperforming assets and focusing on its core operations[119]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific financial targets were not disclosed in the provided documents[157][158]. - The company is exploring potential mergers and acquisitions to bolster its product offerings and market presence[152]. - The company plans to expand its production capacity for core products and enhance customer management to capture a larger market share in the energy storage battery equipment sector[118]. - The company has established long-term relationships with major clients in the lithium battery and 3C automation sectors, enhancing customer loyalty[64]. Governance and Compliance - The company emphasizes the importance of stakeholder rights, maintaining communication with creditors, employees, and suppliers to balance interests[136]. - The company continues to link senior management compensation to performance metrics, ensuring transparency in hiring practices[135]. - The company has established a robust governance structure, including a board of directors and supervisory board, operating independently from the controlling shareholder[145]. - The company has implemented voluntary disclosure practices to improve the transparency of financial indicators and industry trends[137]. - The company has established strict management systems for its subsidiaries, including investment management and related party transaction management[200]. - The company has a complete and independent financial accounting department, adhering to legal regulations and maintaining its own bank accounts[146]. - The company has faced regulatory scrutiny, including a warning from the Guangdong Securities Regulatory Bureau regarding inaccurate disclosures related to performance forecasts and reports[165]. Human Resources - The company employed 1,856 people as of December 31, 2022, with 450 technical R&D personnel, making up 24.25% of the total workforce[66]. - The total number of employees at the end of the reporting period was 1,856, with 726 in production, 436 in sales, and 450 in technical roles[181]. - The company has a total of 275 employees with a bachelor's degree or higher, representing approximately 14.8% of the total workforce[181]. - The company has established a structured training program to enhance employee skills, focusing on multi-skilled technical talent development[183]. Management Changes - A significant management change occurred with the resignation of a supervisor, which necessitated the election of a new supervisor to maintain compliance with regulatory requirements[152]. - The company announced the resignation of several senior executives, including the chairman Wang Guiyin due to work relocation, and general manager Chen Wu for personal reasons[153][155]. - The new chairman, Yu Jing, was elected on November 9, 2022, following the resignation of Wang Guiyin[155]. - The company has appointed Liang Jiangyong as the new general manager effective March 1, 2023, after the resignation of Chen Wu[155][158]. - The management team has been restructured to enhance operational efficiency and strategic decision-making[152]. Future Outlook - Future guidance suggests a revenue target of 343.9 million for 2023, reflecting a positive outlook for the upcoming fiscal year[152]. - The company has set a performance guidance of achieving a revenue growth of 20% in the next fiscal year[164]. - The company plans to invest in research and development to drive future growth and innovation in its product lines[152]. - The company is expected to continue its focus on technological advancements and product development as part of its growth strategy[157][158].