贝斯特(300580) - 2022 Q4 - 年度财报

Supply Chain and Raw Material Management - The company faces risks related to the supply and price volatility of key raw materials, including aluminum ingots, copper rods, and scrap steel, which could directly impact business profits and operations[1]. - The company has implemented measures to enhance raw material procurement management and supply chain management to mitigate the impact of raw material price fluctuations[1]. - The company is closely monitoring changes in the raw material market and adjusting inventory levels accordingly to minimize risks[1]. - The company is focused on maintaining a stable supply chain to ensure production continuity amid potential raw material supply disruptions[1]. - The company will closely monitor raw material price fluctuations and strengthen supply chain management to minimize cost impacts[184]. Financial Performance - The company's revenue for 2022 was CNY 1,097,277,671.54, representing a 3.80% increase from CNY 1,057,097,735.83 in 2021[33]. - The net profit attributable to shareholders for 2022 was CNY 228,869,529.30, a 16.35% increase compared to CNY 196,703,457.41 in 2021[33]. - The net cash flow from operating activities for 2022 was CNY 341,659,780.61, showing a significant increase of 50.97% from CNY 226,302,492.57 in 2021[33]. - The total assets at the end of 2022 amounted to CNY 3,429,253,841.85, reflecting a 15.38% increase from CNY 2,972,202,807.93 at the end of 2021[33]. - The basic earnings per share for 2022 was CNY 1.1443, up 16.35% from CNY 0.9835 in 2021[33]. - The diluted earnings per share for 2022 was CNY 1.0861, which is a 21.86% increase from CNY 0.8913 in 2021[33]. - The weighted average return on equity for 2022 was 11.21%, compared to 10.51% in 2021[33]. - The net assets attributable to shareholders at the end of 2022 were CNY 2,138,258,528.63, a 9.95% increase from CNY 1,944,819,511.77 at the end of 2021[33]. Production and Sales Performance - The company produced 28.44 million turbocharger system components in the reporting period, an increase of 11.95% compared to 25.40 million in the same period last year[35]. - The production of new energy vehicle components reached 5.53 million units, marking a 45.70% increase from 3.80 million units in the previous year[35]. - The production of new energy vehicle components increased by 45.70% year-on-year, while sales rose by 45.24%, attributed to the gradual completion of fundraising projects and increased orders in the market[36]. - The company sold 3,181.81 million automotive parts in 2022, a 5.38% increase from 3,019.25 million in 2021[62]. - The inventory of automotive parts rose by 115.07% to 566.99 million units, primarily due to business expansion[62]. Market and Competitive Position - The company has a strong competitive position in the turbocharger and engine component manufacturing industry, serving global suppliers like Garrett and Cummins[45]. - The automotive sector accounted for 91.74% of total revenue, with sales amounting to 1,006,645,355.59, reflecting a 13.49% increase from 887,026,060.33 in 2021[58]. - Non-automotive sector revenue decreased by 57.11%, totaling 37,998,949.21, down from 88,589,798.39 in 2021[58]. - Domestic sales contributed 57.10% of total revenue at 626,529,115.21, a decline of 11.27% from 706,082,861.44 in 2021[58]. - Export sales increased by 34.11%, reaching 470,748,556.33, compared to 351,014,874.39 in 2021, representing 42.90% of total revenue[58]. Research and Development - The company focuses on R&D in big data, automatic control, and industrial IoT, contributing to its "Best Industrial 4.0" initiative and recognition as a smart manufacturing demonstration factory in Jiangsu Province[74]. - R&D expenses increased by 27.11% to ¥58,786,291.74, indicating a focus on innovation[90]. - R&D investment amounted to ¥58,786,291.74 in 2022, representing 5.36% of operating revenue, an increase from 4.38% in 2021[111]. - The number of R&D personnel decreased by 6.32% to 163 in 2022, with the proportion of R&D personnel in total staff dropping to 13.40%[111]. - The number of master's degree holders among R&D personnel increased by 50.00% to 6 in 2022[111]. Strategic Initiatives - The company aims to continuously develop higher-end products to improve pricing power and competitiveness in response to the risk of product price declines[2]. - The company is committed to enhancing technological innovation to improve competitiveness and operational efficiency[76]. - The company aims to leverage its competitive advantages in "tooling, casting, precision machining, and intelligent manufacturing" to expand its market presence[70]. - The company is committed to improving smart manufacturing levels, optimizing existing processes, and controlling costs to enhance overall competitiveness[132]. - The company plans to strengthen monitoring of accounts receivable and implement precise measures to ensure timely collections[134]. Risks and Challenges - The automotive parts industry typically experiences annual price declines of 1%-5% within 3-5 years after new product supply, which could adversely affect the company's performance if cost control does not improve[2]. - The company exports products primarily in USD, and fluctuations in the RMB/USD exchange rate could lead to significant foreign exchange losses, affecting operational results[5]. - The automotive industry is subject to cyclical fluctuations and policy risks, which may impact orders and inventory levels[136]. - The company faces risks related to raw material supply and price fluctuations, which could directly impact profitability and production activities[158]. - The company is implementing measures to mitigate risks from product price declines by focusing on high-quality product development and cost optimization[159]. Governance and Management - The company held 2 shareholder meetings during the reporting period, approving a total of 14 proposals[168]. - The board of directors consists of 5 members, including 2 independent directors, and held 7 meetings, passing 28 proposals[169]. - The company emphasizes enhancing internal management and safety awareness as a core principle for operational development in 2023[134]. - The company has engaged with multiple institutional investors to discuss its strategic direction and operational performance[192]. - The company’s governance practices align with legal and regulatory requirements without significant discrepancies[200].