Bossco(SZ:300422)2023-04-20 16:00Financial Performance - The company achieved operating revenue of CNY 2,223.80 million in 2022, a decrease of 16.29% compared to the previous year[4]. - The net profit attributable to shareholders was CNY -448.72 million, a reduction in losses by CNY 66.04 million year-on-year[4]. - The net cash flow from operating activities increased by CNY 559.13 million, reaching CNY 153.44 million[4]. - The company's operating revenue for 2022 was ¥2,223,804,929.02, a decrease of 16.29% compared to ¥2,656,577,027.03 in 2021[28]. - The net loss attributable to shareholders for 2022 was ¥448,723,742.52, an improvement of 12.83% from a loss of ¥514,768,343.86 in 2021[28]. - The net cash flow from operating activities for 2022 was ¥153,440,278.64, a significant recovery from a negative cash flow of ¥405,691,409.12 in 2021[28]. - The total assets at the end of 2022 amounted to ¥11,999,056,132.50, reflecting a decrease of 2.16% from ¥12,264,014,651.31 at the end of 2021[28]. - The company's total equity attributable to shareholders decreased by 16.39% to ¥2,278,907,273.27 at the end of 2022 from ¥2,725,668,618.81 at the end of 2021[28]. - The company's operating revenue for 2022 was ¥2,138,997,036.79, compared to ¥2,647,862,264.08 in 2021[28]. - The company's environmental comprehensive governance revenue for 2022 was approximately CNY 1.33 billion, accounting for 59.70% of total revenue, with water treatment contributing CNY 1.14 billion[72]. - The soil remediation business generated revenue of CNY 101.09 million, primarily from projects in Nanning and Hangzhou, reflecting a decrease from the previous year's CNY 278.84 million[73]. Assets and Liabilities - The company's debt scale reached CNY 9,450.64 million, with an asset-liability ratio of 78.76%, indicating a high level of financial leverage[10]. - Accounts receivable and contract assets totaled CNY 2,981.61 million at the end of 2022, accounting for 64.24% of current assets[11]. - The total impact of income tax was 11,944,723.44 in 2022, slightly up from 10,435,409.44 in 2021[35]. - The company's intangible assets remained stable at ¥4,166,281,442.85, accounting for 34.72% of total assets[151]. - The company's contract liabilities increased by 1.36% to ¥417,720,913.83, influenced by an increase in pre-received contract payments[151]. Business Strategy and Focus - The company plans to focus on industrial sectors and reduce reliance on municipal engineering projects to enhance competitiveness and growth prospects[6]. - The company is actively pursuing business transformation and upgrading, including entering new sectors such as renewable energy battery recycling[6]. - The company aims to become a leader in technological innovation within the domestic environmental industry, enhancing its core competencies and sustainable innovation capabilities[47]. - The company is focusing on optimizing its business structure by concentrating resources on the industrial sector and improving the quality of consulting and operational projects[104]. - The company is transitioning from a traditional "equipment + engineering" business model to high-end fields such as environmental technology services and consulting[47]. Research and Development - The company has obtained a total of 440 authorized patents, including 54 invention patents, and has participated in over 20 provincial and ministerial-level projects[77]. - The company has a core technical team led by Academician Wang Shuangfei, with 1,245 R&D personnel, accounting for 27.36% of total employees[83]. - R&D investment amounted to ¥170,669,510.04 in 2022, representing 7.67% of operating revenue, an increase from 7.53% in 2021[142]. - The company has developed new technologies for wastewater treatment, including a method for pre-treating electroplating wastewater and PCB wastewater[87]. - The company is developing a series of chlorine dioxide slow-release products to expand into the domestic disinfection market[140]. Market Position and Competitiveness - The company is positioned in a rapidly growing environmental protection industry, driven by national policies focusing on pollution prevention and ecological restoration[39]. - The competitive landscape in the environmental sector is intensifying, with increased participation from state-owned enterprises and private companies[39]. - The company has achieved a leading position in multiple segments, with core technologies recognized at national and provincial levels, enhancing its international competitiveness[47]. - The company is recognized as one of the most qualified and capable environmental consulting service providers in China, with extensive experience and thousands of successful cases[65]. Project Management and Execution - The company completed 61 project acceptance inspections with a total contract value of 2.298 billion yuan and submitted 77 projects for review totaling 2.282 billion yuan[109]. - The company has established a project management system to enhance data integration and improve management precision across project lifecycles[115]. - The company has conducted periodic assessments organized by the government to ensure the project can achieve expected benefits in the future[180]. Financial Management and Investments - The company raised a total of RMB 549,999,994.00 through a non-public offering of 15,193,370 shares at a price of RMB 36.20 per share[164]. - The company has committed to using the raised funds for specific projects, with a total investment commitment of RMB 53,618.19 million[165]. - The company has reported interest income of 135,800 from the remaining balance of raised funds, which will be used to supplement working capital[199]. - The company has not reported any major changes in the feasibility of the projects as of the latest update[181]. Challenges and Risks - The company has a high-quality talent pool, including 136 senior professionals and 30 PhD holders, which enhances its competitive advantage in technology R&D and business expansion[83]. - A court has frozen CNY 25.6 million of the company's funds due to a legal dispute, which the company is actively working to resolve[191]. - The company has not experienced any significant impacts on its core competitiveness due to management team changes or technology upgrades during the reporting period[84].