CIXING(SZ:300307)2023-06-06 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,900,848,528.55, a decrease of 10.81% compared to ¥2,131,152,264.89 in 2021[24] - Net profit attributable to shareholders for 2022 was ¥91,264,600.00, representing a 3.51% increase from ¥88,171,578.23 in 2021[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥41,851,658.33, an increase of 8.04% from ¥38,738,118.77 in 2021[24] - Basic earnings per share for 2022 was ¥0.12, up 9.09% from ¥0.11 in 2021[24] - Total assets at the end of 2022 were ¥4,420,949,370.99, a 9.04% increase from ¥4,054,517,310.64 at the end of 2021[24] - Net assets attributable to shareholders at the end of 2022 were ¥2,750,393,270.02, a 3.88% increase from ¥2,647,559,973.37 at the end of 2021[24] Cash Flow and Investments - The net cash flow from operating activities improved significantly to -¥7,585,184.04, a 94.72% increase compared to -¥143,613,969.16 in 2021[24] - The company reported a significant improvement in cash flow from operating activities in the fourth quarter, reaching ¥102,920,083.64[26] - The net cash inflow from financing activities was CNY 24,674,777.29, a decrease of 87.22% compared to the previous year[70] - The net increase in cash and cash equivalents was CNY -33,773,089.53, representing a decline of 17.09% year-on-year[70] - The total investment amount for the reporting period was CNY 100,000,000.00, a decrease of 59.13% compared to the previous year[75] Market and Sales Performance - In 2022, the company sold over 21,000 computer knitting machines, maintaining sales levels compared to the previous year, while the overall industry sales dropped by 27%[36] - The revenue from the domestic market was CNY 1,641,215,980.93, accounting for 86.34% of total revenue, which represents a decline of 15.50% year-on-year[54] - The revenue from the overseas market increased by 37.46% to CNY 259,632,547.62, representing 13.66% of total revenue[54] - The automation equipment and project integration business saw a significant decline of 59.19%, with revenue of CNY 102,445,262.65[54] Research and Development - The company holds a total of 138 invention patents, 320 utility model patents, 25 design patents, and 194 software copyrights, showcasing its strong R&D capabilities[43] - Research and development expenses increased by 13.23% to 86,568,813.79 CNY, representing 4.55% of operating revenue[66] - The company is committed to increasing R&D investment in new technologies and products to support industry upgrades[87] - The company emphasizes continuous innovation and R&D investment to enhance its competitive edge in the knitting machinery market[51] Corporate Governance - The company has established a transparent governance structure, ensuring compliance with relevant laws and regulations, and promoting independent operations of its board and committees[97] - The company maintains a complete and independent business system, ensuring no interference from controlling shareholders in its operations[100] - The company is focused on maintaining high standards of corporate governance and transparency in its operations[108] - The company has a diverse board with members holding various professional backgrounds, enhancing its decision-making capabilities[109] Employee and Management - The total number of employees at the end of the reporting period is 1,720, with 458 in the parent company and 1,262 in major subsidiaries[124] - The company has established a performance-based compensation system, linking monthly salaries and year-end bonuses to individual and departmental performance[126] - The company has a comprehensive employee training program focusing on professional skills, management capabilities, and corporate culture[128] - The company has a strong management team with over 30 years of experience in the knitting machinery industry, led by Chairman Sun Pingfan[106] Risks and Challenges - The company faces risks in future development as outlined in the management discussion and analysis section[3] - The company faces significant market risks due to reduced downstream demand and intense competition, particularly in overseas markets still affected by the pandemic[91] - Accounts receivable risk is notable, with a large balance due to the use of forward letters of credit and credit sales, leading to potential bad debt losses[91] - There is a risk of technological failure if R&D does not align with market needs or if key technologies are not updated in time, prompting increased investment in R&D[92] Social Responsibility - The company donated RMB 360,000 to the Cixi Charity Association as part of its social responsibility initiatives[147] - The company has increased its investment in employee training programs to support career development[147] Shareholder Information - The total number of shareholders at the end of the reporting period was 35,404, with a slight increase from 35,458 at the beginning of the period[185] - The largest shareholder, Ningbo Yuren Wisdom Technology (Group) Co., Ltd., holds 17.39% of the shares, totaling 135,754,541 shares[185] - The company has not established any differential voting rights arrangements[188] - The controlling shareholder is Ningbo Yuren Wisdom Technology (Group) Co., Ltd., with Sun Pingfan as the actual controller and chairman[189]