SVG(SZ:300331)2023-04-25 16:00Financial Performance - In 2022, the company achieved operating revenue of 1,715.81 million RMB, a decrease of 1.21% compared to the previous year[3]. - The operating profit was -323.61 million RMB, an increase of 14.14% year-on-year, while the total profit was -330.11 million RMB, up 11.06% year-on-year[3]. - The net profit attributable to shareholders was 279.07 million RMB, representing a growth of 20.18% compared to the previous year[3]. - The parent company reported a net profit of 23.98 million RMB, a significant increase of 117.87% year-on-year, mainly due to the absence of long-term asset impairment losses[4]. - The company's operating revenue for 2022 was ¥1,715,808,412.37, a decrease of 1.21% compared to ¥1,736,793,511.62 in 2021[24]. - The net profit attributable to shareholders was -¥279,073,228.96, an improvement of 20.18% from -¥349,626,181.80 in the previous year[24]. - The net cash flow from operating activities increased significantly to ¥202,532,708.21, a rise of 1,755.68% compared to ¥10,914,216.81 in 2021[24]. - The total assets at the end of 2022 were ¥3,243,867,068.07, down 9.67% from ¥3,591,159,026.01 at the end of 2021[24]. - The total net assets attributable to shareholders decreased to ¥1,724,462,130.03, a decline of 13.67% from ¥1,997,522,482.62 in 2021[24]. - The company reported a total of ¥1,696,795,396.69 in main business income after deducting other business income for 2022[24]. Impairment and Losses - The company recognized asset and credit impairment losses amounting to 261.37 million RMB, primarily due to the underperformance of its subsidiary Huari Sheng[4]. - The company reported significant asset impairment losses of ¥182,948,855.98, which constitutes 55.42% of total profit, mainly due to provisions made by a subsidiary[102]. Product Development and Market Strategy - The revenue share from high-value-added businesses such as transparent conductive films and ultra-thin high-brightness light guide materials is rapidly increasing[4]. - The company plans to focus on new product development in areas such as next-generation anti-counterfeiting materials and AR-HUD projection screens, with testing and validation progressing smoothly[4]. - The company is optimistic about a recovery in profitability as downstream industry demand gradually rebounds and new products enter mass production[4]. - The company has developed eco-friendly 3D transfer materials that are biodegradable and energy-efficient, establishing a technological leadership position in the packaging sector[37]. - The company has begun mass production of ultra-thin high-brightness light guide materials, which are gradually replacing traditional printed and injection-molded light guide plates in the medium and large size sectors[48]. - The company is actively expanding its reflective materials product line, which includes license plate films and high-end micro-prism reflective films, widely used in traffic safety and personal protection[53]. Research and Development - The R&D team consists of 13 PhDs and 61 Masters, contributing to the company's leading position in micro-nano optical technology[72]. - The company has received multiple national awards for its technological advancements, including 3 National Science and Technology Progress Awards[72]. - The company has developed a new transparent conductive film manufacturing technology, which disrupts traditional precision circuit etching processes and enhances production capabilities[76]. - The company aims to enhance its capabilities in large-area lithography and micro-nano manufacturing through ongoing R&D initiatives[96]. - The R&D focus includes advancements in Micro-LED technology and 3D display systems, with ongoing projects aimed at improving production techniques[97]. Subsidiaries and Acquisitions - The company acquired Huari Sheng in 2016, gaining intellectual property and production capacity in reflective materials, enhancing its market position in the domestic license plate film market[81]. - The company has established business relationships with major panel manufacturers, including Microsoft and Huawei, in the new display optical materials sector[82]. - The company has established a new joint venture, Jiangyin Gexin New Materials Technology Co., Ltd., with a 51% ownership stake[91]. Financial Management and Investments - The company plans to use 10 million yuan of idle raised funds to temporarily supplement working capital, which has been fully repaid ahead of schedule by March 6, 2023[125]. - The company has committed to a project for the acquisition of land and buildings for its subsidiary Yancheng Wei Wang, with a total area of 41,580 square meters for land use rights and 18,139 square meters for buildings[124]. - The company reported a total investment amount of 20 million yuan for new product development in optical technology, representing a 40% increase compared to the previous year[113]. - The company is actively pursuing non-equity investments to diversify its portfolio and mitigate risks associated with market fluctuations[115]. Governance and Management - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations[156]. - The company has a clear governance structure with defined roles for its board members and management team[161]. - The company has a structured approach to employee incentives, including stock option plans approved by the shareholders[193]. - The company has established a comprehensive employee training management system, focusing on various training programs to enhance employee competencies[187]. Market Outlook and Future Plans - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 1.32 billion RMB, driven by new product launches and market expansion strategies[172]. - The company aims to achieve breakthroughs in new generation anti-counterfeiting materials for public safety and expand into eco-friendly packaging for various consumer goods[142]. - The company intends to increase R&D investment, focusing on areas such as AR, 3D displays, and large-size touch sensors, to strengthen its technological support and innovation capabilities[145].