HAIDA(SZ:300320)2023-03-30 16:00Financial Performance - The company's operating revenue for 2022 was CNY 2,629,966,180.92, an increase of 4.24% compared to CNY 2,522,935,052.09 in 2021[18]. - Net profit attributable to shareholders decreased by 30.50% to CNY 103,081,457.82 from CNY 148,315,069.28 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 94,354,195.31, down 34.61% from CNY 144,283,807.15 in 2021[18]. - The basic earnings per share fell by 32.00% to CNY 0.17 from CNY 0.25 in 2021[18]. - Total assets at the end of 2022 reached CNY 3,332,583,911.04, a 6.17% increase from CNY 3,138,855,878.39 at the end of 2021[18]. - The net assets attributable to shareholders increased by 4.45% to CNY 2,065,020,584.78 from CNY 1,976,969,981.08 in 2021[18]. - Cash flow from operating activities was CNY 115,483,589.43, a decrease of 16.18% compared to CNY 137,782,924.31 in the previous year[18]. - The company reported a weighted average return on equity of 5.10%, down from 7.76% in 2021[18]. - The company reported a total non-recurring profit of ¥8,727,262.51 in 2022, an increase of 116.8% compared to ¥4,031,262.13 in 2021[24]. Business Operations - The company’s main business focuses on the research and development of modified rubber and plastic materials, with applications in rail transit, construction, automotive, and shipping industries[27]. - The company has maintained its leading position in the industry, receiving the title of "Top Ten Enterprises in the Rubber Products Industry" for eight consecutive years from 2015 to 2022[29]. - The company’s automotive sunroof sealing strips have gained high recognition in the industry, becoming the preferred partner for major suppliers and achieving rapid growth in export business[31]. - The company has successfully supplied rubber sealing components for high-speed trains and urban rail transit, contributing to over 100 large-scale tunnel projects across nearly 30 cities[31]. - The company’s aluminum extrusion products are widely used in automotive applications, with significant demand driven by the trend towards lightweight vehicles[28]. - The company is actively developing new vibration reduction products for various automotive models, establishing a solid foundation for future growth[31]. - The company is focusing on technological advancements and market expansion in the rubber parts manufacturing industry, aiming for scale development and innovation[27]. Market and Product Development - The company has developed new products for the energy sector, including components for solar photovoltaic power stations and new polymer materials for oil and gas engineering, capitalizing on the "dual carbon" goals[32]. - The demand for EPDM rubber sealing strips in the construction sector remains high due to increasing energy efficiency requirements and rising living standards[32]. - The company is actively expanding its market presence in rail transportation, automotive, construction, and shipping sectors, which are key drivers of economic growth[37]. - The company is focusing on cost reduction and efficiency improvement through the development of low-cost new materials and optimization of production processes[41]. - The company is committed to continuous improvement in product quality and customer satisfaction, which is essential for competitive advantage in the automotive sealing market[50]. Research and Development - The company holds 104 effective patents, including 25 invention patents, and has established partnerships with universities for research and development[35]. - The company’s R&D investment amounted to ¥109,738,111.11 in 2022, representing 4.17% of total revenue, an increase from 3.81% in 2021[69]. - The number of R&D personnel decreased by 2.82% to 345 in 2022, with the proportion of R&D staff in the total workforce dropping to 14.56% from 15.74%[69]. - The company has completed the development of a high-performance suspension system for 1.5-2.0T forklifts, aiming to enhance vibration performance and increase sales in the forklift vibration product market[66]. - A new type of vibration-reducing track bed structure has been developed, expected to achieve a vibration reduction effect of over 10dB, which will increase sales in the rail sector[66]. Environmental and Social Responsibility - The company has implemented a comprehensive waste management system, ensuring that industrial wastewater and domestic sewage are treated and discharged in compliance with standards[160]. - The company has established an emergency response plan for environmental incidents, ensuring effective management of potential environmental risks[161]. - The company has developed self-monitoring plans for various pollutants, including air and water, to maintain quality assurance and control[162]. - The company has committed to donating 150,000 yuan annually to the Jiangyin Charity Association since 2007, supporting local education and poverty alleviation[169]. - The company has been recognized as a high-tech enterprise and a benchmark enterprise for water conservation in Zhejiang Province[169]. Governance and Management - The company has a structured governance framework with a board of directors and supervisory board operating independently[113]. - The company has established a performance evaluation and incentive system linking management compensation to business performance, ensuring transparency in executive appointments[109]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring no interference in decision-making processes[112]. - The company has implemented strict information disclosure practices, achieving an A-level rating for its 2021 disclosure performance from the Shenzhen Stock Exchange[110]. - The company has a robust internal management structure that ensures effective governance and operational independence[113]. Risks and Challenges - The company faces significant risks due to macroeconomic slowdown, with industry performance closely tied to national development strategies and investment in infrastructure[98]. - Rising raw material prices pose a risk to cost control, influenced by factors such as trade tensions and supply-demand imbalances[101]. - The company has implemented measures to manage accounts receivable risks, including performance assessments for sales personnel and regular account reconciliations[100]. - Management risks are heightened due to rapid expansion, necessitating improved training and recruitment strategies for the management team[102]. Future Outlook - The company plans to expand its product offerings and enhance R&D efforts in new technologies to drive future growth[55]. - The company anticipates continued growth in the automotive sector, supported by new contracts and product launches scheduled for 2023 and beyond[55]. - The company aims to enhance its core competitiveness through technological innovation and by addressing industry challenges with dedicated task forces[96]. - In 2023, the company plans to focus on expanding its market presence and improving customer service while pursuing sustainable development[96].