Lootom(SZ:300555)2023-04-27 16:00Financial Performance - The company's net profit was negative due to an increase in long-aged accounts receivable, leading to a higher provision for credit impairment losses compared to the same period last year[4]. - The company experienced a decrease in financial management scale and income, alongside increased employee compensation, resulting in higher sales and R&D expenses compared to the previous year[4]. - Government subsidies received by the company decreased compared to the previous year, impacting overall financial performance[4]. - The company's operating revenue for 2022 was ¥213,512,180.55, representing an increase of 11.05% compared to ¥192,260,289.14 in 2021[24]. - The net profit attributable to shareholders of the listed company was -¥18,808,068.95 in 2022, a decrease of 15.66% from -¥15,176,597.09 in 2021[24]. - The net cash flow from operating activities was -¥88,656,102.34, a significant decline of 93.44% compared to -¥45,830,576.26 in 2021[25]. - The basic earnings per share for 2022 was -¥0.0940, down 15.62% from -¥0.0759 in 2021[25]. - The total assets at the end of 2022 were ¥792,869,733.54, a slight decrease of 0.08% from ¥794,605,965.56 at the end of 2021[25]. - The net assets attributable to shareholders of the listed company decreased by 2.78% to ¥608,586,921.68 in 2022 from ¥627,091,886.35 in 2021[25]. - The company reported a total revenue of 5,396,724.09 in 2022, a decrease from 10,813,485.91 in 2021, indicating a decline of approximately 50.2%[35]. Business Strategy and Development - The company plans to strengthen its traditional broadcasting business while actively exploring new business directions to enhance profitability, particularly in the context of accelerating digital economy and smart city construction[5]. - The company is positioned as one of the few comprehensive solution providers capable of covering all mainstream technology routes for two-way network transformation, offering a full range of products including FTTH, EOC, HFC, and WiFi[44]. - The company has developed a comprehensive network access solution and products tailored to the construction and transformation needs of broadband network operators, focusing on a "product + service" model[45]. - The company aims to expand its customer base from cable network operators to other telecom operators and government-enterprise clients[44]. - The company is focused on the digital economy and the integration of digital and real economies, leveraging technologies such as IoT, 5G, and artificial intelligence to enhance service offerings[43]. - The company is continuously upgrading its smart community services through a super APP to meet evolving functional demands[93]. - The company is focusing on upgrading traditional network transmission equipment and developing smart IoT application solutions[98]. Research and Development - The company’s R&D expenses increased by 28.97% to 17.52 million yuan, reflecting its commitment to innovation[72]. - As of the end of the reporting period, the company and its subsidiaries hold 93 patents and 123 software copyrights, enhancing its R&D capabilities[56]. - The R&D team saw a significant increase in the number of master's degree holders, rising from 1 to 4, a 300% increase[98]. - The company is investing 100 million RMB in R&D for new technologies related to blockchain and AI in 2023[176]. - The company is investing 200 million RMB in R&D for new technologies, focusing on AI and cloud computing solutions[179]. Market Trends and Challenges - The number of cable television users in China decreased to 199 million by the end of 2022, with digital cable television users at 190 million, reflecting a continuous decline year-on-year[40]. - The company has acknowledged uncertainties regarding its ability to continue as a going concern due to negative net profits over the last three years[26]. - The company experienced a decline in both production and sales of equipment due to a slowdown in industry network upgrades and reduced bidding demand from provincial network customers[54]. - The company recognizes the risk of declining gross margins due to increased competition and reliance on imported core components[139]. Governance and Compliance - The company adheres to relevant laws and regulations in its governance practices, ensuring compliance with the standards set by the Shenzhen Stock Exchange[147]. - The company has established a complete and independent financial management system, including independent bank accounts and tax obligations[158]. - The company is committed to protecting the interests of all investors and will continue to demand the repayment of misappropriated funds[158]. - The company has implemented effective measures to ensure the independence of its supervisory board in overseeing the management's compliance and financial practices[152]. Customer and Market Engagement - Customer satisfaction ratings improved to 90%, up from 85% in the previous year, indicating better service delivery[177]. - The company completed an acquisition of a local tech firm for 300 million RMB to enhance its service offerings[176]. - The company plans to enter the Southeast Asian market in 2023, targeting a revenue contribution of 5% from this region by the end of the year[179]. Financial Management - The company has proposed to manage idle assets for cash management purposes[199]. - The company plans to apply for a comprehensive credit line from banks for the year 2022[198]. - The company has proposed to recognize and write off asset impairment losses[198]. - The company has not reported any significant changes in long-term equity investments or investment properties[110].