TGC(SZ:300265)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was CNY 2,083,122,932.72, an increase of 8.33% compared to CNY 1,923,008,393.63 in 2021[20]. - The net profit attributable to shareholders for 2022 was CNY 81,713,965.46, representing an 81.84% increase from CNY 44,936,968.85 in 2021[20]. - The cash flow from operating activities showed a net increase of 246.38%, reaching CNY 87,970,367.51, compared to a negative cash flow of CNY 60,096,050.74 in 2021[20]. - The basic earnings per share for 2022 was CNY 0.22, an increase of 83.33% from CNY 0.12 in 2021[20]. - Total assets at the end of 2022 amounted to CNY 2,826,595,575.00, a 9.46% increase from CNY 2,582,205,364.95 at the end of 2021[20]. - The company reported a net profit of CNY 14,003,176.71 in Q1 2022, which increased to CNY 34,123,167.64 in Q4 2022[22]. - Non-recurring gains and losses for 2022 totaled CNY 37,016,867.97, compared to CNY 21,033,500.64 in 2021[27]. - The weighted average return on equity for 2022 was 6.02%, up from 3.40% in 2021[20]. - The gross profit margin for the wire and cable manufacturing industry was 17.53%, up from 16.67% in the previous year, reflecting a 0.86% increase[54]. Shareholder Information - The company reported a profit distribution plan, proposing a cash dividend of 0.25 RMB per 10 shares based on a total of 364,978,210 shares[4]. - The company has a three-year dividend return plan for shareholders from 2022 to 2024[136]. - The total number of shares for the cash dividend distribution was based on 364,978,210 shares as of December 31, 2022[165]. - The company has a cash dividend policy that requires a minimum of 80% of profit distribution to be in cash dividends during the mature stage of development[165]. - The company distributed a cash dividend of RMB 0.25 per 10 shares (including tax), totaling RMB 9,124,455.25, which accounted for 100% of the profit distribution[165]. Research and Development - The company invested CNY 84,931,212.53 in R&D, which accounted for 4.08% of its operating revenue, and authorized 23 new patents during the year[48]. - The company has developed four core technologies in special power cables and holds over 20 patents, reinforcing its technological leadership in the industry[46]. - The company has completed several key R&D projects, including a high-temperature welding cable for robots, which aims to expand the existing product range and improve product structure[66]. - The company is currently developing new products such as fire-resistant cables and anti-rodent cables to meet market demands and expand its product range[68]. - The company has successfully developed a 120-ohm double-shielded CAN bus cable, which meets aerospace signal transmission requirements and improves technical standards[67]. Market Position and Strategy - The company is positioned in the power, communication, and military industries, with stable demand expected due to ongoing investments in smart grid and high-voltage transmission projects in China[31]. - The company plans to leverage the growth in the electric power sector, which saw a 2.0% increase in investment in 2022, amounting to CNY 501.2 billion[31]. - The company has been recognized as one of the top ten most competitive enterprises in China's optical fiber and cable industry[39]. - The company has established stable partnerships with major clients, including State Grid and Southern Power Grid, ensuring a solid foundation for revenue growth[46]. - The company aims to expand its market presence by strengthening sales management and increasing efforts in international market development[113]. Governance and Compliance - The company emphasizes compliance with relevant laws and regulations to mitigate legal risks associated with hedging activities[88]. - The company has a governance structure that includes a board of directors with 3 independent directors, ensuring independent decision-making[127]. - The company has not faced any significant regulatory penalties, indicating compliance with governance standards[123]. - The company adheres to strict information disclosure practices, ensuring transparency and equal access to information for all shareholders[131]. - The company has established a credit management system to assess the creditworthiness of trading partners before transactions[88]. Employee and Talent Management - The total number of employees reached 1,386, with 22.44% holding a bachelor's degree or higher, reflecting a strong talent pool[48]. - The company emphasizes a fair and competitive salary policy, linking employee performance closely with company performance[160]. - In 2022, the company increased internal training efforts, with a significant growth in total training hours compared to 2021[161]. - The company plans to establish a course system for key talent in 2023, utilizing internal lecturer resources to foster a learning environment[162]. - The company has implemented a performance evaluation and incentive mechanism to align employee compensation with job performance[130]. Financial Management - The company has implemented strict cash management procedures in compliance with regulations, ensuring effective supervision of cash transactions[171]. - The company has established a cost control system through budgeting and approval processes, summarizing cost execution reports[172]. - The company has centralized decision-making for major investments and financing to mitigate investment and financing risks[173]. - The internal control self-evaluation report indicates that 100% of the company's total assets and revenue were included in the evaluation scope[175]. - The company has maintained effective internal control over financial reporting as of December 31, 2022, according to the internal control audit report[177]. Legal Matters - The company reported a litigation amount of 63.5 million yuan related to a contract dispute with Wuhan Kaidi Electric Engineering Co., Ltd. which has not formed a pre-judgment liability[198]. - The company has a pending litigation amount of 65.91 million yuan against Sihong County Gaochuan Wind Power Generation Co., Ltd., which has declared bankruptcy[198]. - The company won a lawsuit against St. Dret, with a litigation amount of 3,071.53 million yuan, and the first instance has ruled in favor of the company[198]. - The company has a litigation amount of 5,662.05 million yuan against a shareholder company, which is currently awaiting court proceedings[198]. - The company has a litigation amount of 19.39 million yuan against Green Land Group Chengdu Shufeng Real Estate Development Co., Ltd., which has been ruled in favor of the company[199].