Tongyu Heavy(SZ:300185)2023-04-24 16:00Financial Performance - In 2022, Tongyu Heavy Industry achieved a revenue of 5.913 billion RMB and a net profit attributable to shareholders of 246 million RMB, with a net profit excluding non-recurring items of 229 million RMB[4]. - The company's operating revenue for 2022 was ¥5,912,890,720.74, an increase of 2.86% compared to ¥5,748,727,046.65 in 2021[38]. - The net profit attributable to shareholders decreased by 13.57% to ¥246,003,358.81 in 2022 from ¥284,618,271.24 in 2021[38]. - The cash flow from operating activities showed a significant decline, with a net outflow of ¥66,328,357.90 in 2022 compared to a net inflow of ¥205,287,332.36 in 2021, marking a decrease of 132.31%[38]. - The company reported a basic earnings per share of ¥0.06 in 2022, down 25.00% from ¥0.08 in 2021[38]. - The company reported a total non-operating income of ¥16,766,841.92 in 2022, down from ¥27,198,307.07 in 2021[44]. - The company’s financial expenses decreased by 9.80% to approximately ¥175.72 million compared to the previous year[79]. - The company reported a significant increase in prepayments to ¥371,467,756.26, which is 2.35% of total assets, up by 0.51% due to rising raw material prices[89]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the fiscal year, representing a year-over-year growth of 20%[200]. Capital and Financing - The company successfully issued convertible bonds raising a total of 1.485 billion RMB, marking the largest refinancing project in its history, aimed at supporting industrial innovation during the 14th Five-Year Plan[8]. - The company completed refinancing for two consecutive years, enhancing its capital strength and maintaining bank financing costs below the benchmark interest rate[60]. - The company issued convertible bonds totaling ¥1,484,720,000, with a net amount received of ¥1,473,646,569.81 after deducting issuance costs[100]. - As of December 31, 2022, the company had used ¥681,094,600 of the raised funds, leaving a balance of ¥795,883,800 available for future use[100]. Research and Development - The company has developed the world's first 9MW wind power forged spindle, which was delivered to customers during the reporting period[54]. - R&D expenses totaled CNY 153 million, with over 20 product developments and process optimizations completed[66]. - The company is actively engaged in the R&D of solid-state hydrogen storage alloy materials in collaboration with the University of New South Wales, aiming to enhance product performance and reduce production costs[56]. - The company is committed to enhancing its research and development efforts in new technologies related to wind power products[118]. - The company is investing 100 million yuan in R&D for new technologies aimed at enhancing operational efficiency[149]. Market Position and Strategy - The company aims to become a leading international energy equipment manufacturer and a well-known functional materials supplier[4]. - The company plans to leverage the recovering policy environment in the wind power sector to enhance its market position and expand operations in the coming years[48]. - The company anticipates significant growth in wind power installations in 2023, targeting high-quality bulk orders for offshore wind power components and cast main shafts[110]. - The company plans to increase the proportion of overseas revenue by actively developing emerging markets[110]. - The company is exploring opportunities for mergers and acquisitions to strengthen its position in the wind power market[117]. Governance and Compliance - Tongyu Heavy Industry was recognized with an A-class rating for information disclosure for the fourth consecutive year, reflecting its commitment to transparency and investor relations[10]. - The company received the "2022 Annual Listed Company Supervisory Board Progress Award," recognizing its diligent governance practices[16]. - The company has maintained independent operational capabilities in business, assets, personnel, and finance, without any financial support or fund occupation by controlling shareholders[128]. - The company is committed to compliance with the requirements of the China Securities Regulatory Commission regarding corporate governance[126]. - The company has not reported any significant discrepancies in its governance practices compared to regulations set by the China Securities Regulatory Commission[134]. Environmental and Social Responsibility - The company has implemented advanced VOCs treatment technology, specifically catalytic oxidation combustion (RCO) equipment, to effectively manage emissions during the coating process[193]. - The company has reported no major environmental protection issues and is classified as a key pollutant discharge unit[186]. - The company actively participates in charitable activities and was awarded "Yucheng City's Most Caring Donor Enterprise" in 2022[195]. - The company disclosed its 2022 Environmental, Social, and Governance (ESG) report to improve transparency regarding its social responsibility efforts[195]. Employee Management and Development - The total number of employees at the end of the reporting period was 4,307, including 2,588 from the parent company and 1,719 from major subsidiaries[171]. - The company has established a performance evaluation system linked to production tasks, promoting a principle of "more work, more pay" for production units[173]. - A comprehensive training system is in place, providing onboarding training for new employees and skills enhancement training across various operational areas[174]. - The company emphasizes the importance of employee development and has implemented various training programs to enhance overall employee quality[174]. Product Development and Innovation - The company has completed the research and development of the 9MW wind turbine main shaft, aligning with national clean energy strategies and expanding market opportunities[81]. - The company is developing new products and technologies related to wind power, aiming to enhance its competitive edge[119]. - The company is launching two new products in Q2 2023, anticipated to generate 300 million yuan in sales within the first year[200]. Operational Efficiency - The company has achieved a breakthrough in the production of large-diameter roller press shafts, with a diameter of Ф2115mm×1820mm, enhancing its market competitiveness[81]. - The company has implemented innovations in the forging process of cylinder forgings, reducing production costs and improving production efficiency[81]. - The company plans to enhance its digital marketing efforts, aiming for a 30% increase in online sales[149].