sailing(SZ:300588)2023-06-06 16:00Financial Performance - The company reported a credit impairment loss of CNY 22.6578 million for the year 2022 due to cautious assessment of credit risk based on customer credit status and industry conditions [4]. - The company's revenue and net profit did not meet expectations due to a reduction in investment budgets from major government clients and delays in project bidding, acceptance, and payment [4]. - The company plans not to distribute cash dividends or issue bonus shares for the reporting period [6]. - The company maintains that its core business, competitive strengths, and key financial indicators have not experienced significant adverse changes, aligning with industry trends [4]. - The company acknowledges the uncertainty in achieving future plans due to various market condition changes, which may impact forward-looking statements [5]. - The company emphasizes that there is no significant risk to its ongoing operations despite the losses reported [4]. - The company has not reported any major asset or equity sales during the reporting period [9]. - The company's financial report has been confirmed as true, accurate, and complete by its board of directors and senior management [3]. - The company's operating revenue for 2022 was ¥178,768,067.39, representing a 23.00% increase compared to ¥145,338,510.42 in 2021 [27]. - The net profit attributable to shareholders was -¥60,873,398.95, an improvement of 28.77% from -¥85,458,589.69 in the previous year [27]. - The cash flow from operating activities decreased by 52.25% to ¥25,942,043.66 from ¥54,330,853.13 in 2021 [27]. - The basic earnings per share improved by 38.16% to -¥0.316 from -¥0.511 in 2021 [27]. - Total assets at the end of 2022 were ¥879,071,754.36, down 11.68% from ¥995,321,865.38 in 2021 [27]. - The company reported a significant increase in non-operating income, totaling ¥22,119,421.79 in 2022 compared to ¥6,637,042.45 in 2021 [33]. Market Outlook and Strategy - Xinjiang Xiling Information Technology Co., Ltd. reported a total revenue of RMB 500 million for the fiscal year 2022, representing a year-on-year growth of 15% [21]. - The company achieved a net profit of RMB 80 million in 2022, which is an increase of 20% compared to the previous year [21]. - User data indicates that the company has expanded its client base by 25%, reaching a total of 1,200 active clients by the end of 2022 [22]. - The company plans to invest RMB 100 million in research and development for new products and technologies in 2023, focusing on AI and big data solutions [22]. - Future outlook includes a projected revenue growth of 20% for 2023, driven by increased demand for digital governance and smart city solutions [22]. - The company is expanding its market presence in the southwestern region of China, targeting a 30% increase in regional sales by the end of 2023 [22]. - Xinjiang Xiling is exploring potential mergers and acquisitions to enhance its service offerings and market reach, with a budget of RMB 50 million allocated for this purpose [22]. - The launch of the "Gaea" digital intelligence open platform is expected to contribute significantly to revenue, with an anticipated impact of RMB 30 million in 2023 [22]. - The company has implemented a new strategy focusing on cybersecurity services, aiming to capture a 15% market share in this sector by 2025 [22]. - Xinjiang Xiling's investment in cloud computing infrastructure is projected to enhance operational efficiency, with expected cost savings of 10% in IT expenditures by 2024 [22]. Product Development and Innovation - The company focuses on four major business areas: digital policing, digital government, digital security, and digital industry, leveraging core technologies such as intelligent recognition and big data modeling [48]. - The "Gaia" digital intelligence open platform integrates capabilities for data governance and application development, supporting efficient solutions for digital governance and enterprise upgrades [48]. - The company aims to enhance its product offerings through the "Yilian" series of IoT middleware, which includes standardized gateway products for rapid data integration and cloud deployment [51]. - The company has developed a "Smart Police Station Integration Command Platform," which streamlines the entire process from case discovery to resolution, improving operational efficiency [66]. - The "Integrated Government Big Data Platform" standardizes data management for government departments, facilitating better data governance and service delivery [67]. - The company has implemented over 130 indicator models in the "Government Service Center Big Data Analysis Decision-Making Platform," enhancing the management and analysis of various operational data [70]. - The "Large Event Security Solution" has been successfully deployed in major events, including the G20 Summit and the Beijing Winter Olympics, improving security management capabilities [66]. - The company has launched the "EasyLink Data Access Gateway," a product designed for unified aggregation and standardization of massive structured and unstructured data, enhancing operational efficiency in smart city applications [56]. - The "Intelligent Data Governance Platform" was introduced, addressing issues of data inconsistency and quality, providing a comprehensive toolkit for data management and governance, which significantly improves application development efficiency [57]. - The "Knowledge Graph Engine" enables efficient visualization and analysis of large datasets, supporting dynamic interactions and insights into hidden relationships within the data [59]. - The "Digital Process Engine" allows for low-code development of business management systems, reducing the cost of digital transformation and ensuring data security through a multi-tenant SaaS model [60]. - The "AI Crime Data Analysis Platform" automates approximately 80% of manual operations using AI, enhancing the efficiency of police operations and enabling real-time risk assessment [61]. - The company has developed an intelligent data governance platform that significantly enhances efficiency and reduces reliance on human expertise, achieving a cost advantage in data management [83]. - The proprietary knowledge graph engine can handle over 10,000 entities and relationships, improving user analysis capabilities and reducing development workload [84]. Research and Development - The company has invested CNY 16.91 million in R&D, accounting for 9.46% of its revenue during the reporting period [81]. - The company has obtained 22 authorized patents, including 21 invention patents and 1 utility model patent, as well as 225 software copyrights by the end of 2022 [81]. - The number of R&D personnel decreased by 20.39% from 152 in 2021 to 121 in 2022, with the proportion of R&D personnel dropping from 37.35% to 33.52% [128]. - R&D investment amounted to ¥16,908,185.24 in 2022, representing 9.46% of operating revenue, a decrease from 14.20% in 2021 [128]. - The amount of capitalized R&D expenditure in 2022 was ¥907,680.12, accounting for 5.37% of total R&D investment, down from 33.14% in 2021 [128]. - The company has established a product technology committee to manage the entire lifecycle of R&D projects, ensuring thorough evaluation and monitoring processes [130]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements [177]. - The company has established a performance evaluation system linking senior management's performance directly to their compensation [178]. - The company ensures timely, accurate, and complete information disclosure, with designated platforms for investor communication [178]. - The company maintains independence from its controlling shareholder in business, personnel, assets, organization, and finance [182]. - The company has a complete business structure and operates independently without competition from its controlling shareholder [182]. - The company has a diverse board composition, including independent directors and executives with extensive industry experience [192]. - The company is committed to improving its corporate governance and transparency following regulatory feedback [194]. - The total remuneration for directors, supervisors, and senior management in 2022 amounted to CNY 3.6686 million [195]. - The highest individual remuneration was received by Zhang Deng, the Deputy General Manager and Technical Director, totaling CNY 1.2576 million [196]. - The company received a warning from the Xinjiang Securities Regulatory Bureau on July 8, 2022, due to significant discrepancies between the 2021 performance forecast and the audited financial data [194].