Longertek(SZ:300594)2023-04-20 16:00Financial Performance - The company achieved operating revenue of 770.73 million RMB in 2022, representing a year-on-year growth of 14.05% driven by increased income from new businesses such as new energy bus air conditioning and digital energy products[3]. - The net profit attributable to shareholders was -57.99 million RMB, with a significant increase in credit impairment losses amounting to 50.70 million RMB and inventory impairment losses of 5.63 million RMB[3]. - The company's operating revenue for 2022 was ¥770,727,198.42, representing a 14.05% increase compared to ¥675,804,349.88 in 2021[19]. - The net profit attributable to shareholders was -¥57,992,141.27, a significant decrease of 1,150.43% from ¥5,520,813.54 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥65,265,825.26, down 4,040.20% from ¥1,656,409.62 in 2021[19]. - The total assets at the end of 2022 were ¥1,736,812,604.10, an increase of 21.96% from ¥1,424,125,317.59 at the end of 2021[19]. - The company's cash flow from operating activities was -¥299,146,578.54, a decline of 781.27% compared to ¥43,909,936.66 in 2021[19]. - The basic earnings per share for 2022 was -¥0.64, a decrease of 1,166.67% from ¥0.06 in the previous year[19]. - The company experienced a significant decline in net profit across all four quarters of 2022, with the fourth quarter showing a loss of -¥8,394,787.81[22]. Strategic Focus and Business Development - The company plans to establish strategic business segments focusing on core technologies in variable frequency control, energy conservation, and intelligence, with an independent R&D and sales team to enhance market expansion in new energy vehicles and data centers[4]. - The company expanded its business from rail transit to the new energy and digital energy sectors, indicating a strategic shift in focus[30]. - The company is positioned in the rail transit vehicle air conditioning market, leveraging its core technology for energy-efficient variable frequency systems to maintain a stable market share[34]. - The company is positioned as a supplier of temperature control equipment for data centers and new energy storage stations, focusing on energy-saving, environmental protection, and intelligent technology to capture market opportunities[44]. - The company aims to enhance its market share by collaborating with well-known domestic enterprises and focusing on intelligent energy-saving control technologies[44]. - The company is actively expanding its research and market investment in energy-saving temperature control solutions for data centers and energy storage systems[44]. - The company is focused on expanding its market share in the rail transit air conditioning sector through strategic partnerships and technological innovation[127]. Research and Development - The company has established a dedicated R&D technology center to enhance product technology and process management systems, focusing on customer needs and pain points for overall technical solutions[59]. - The company reported stable core technical personnel and continuous improvement in core competitiveness, with a focus on technological innovation and new product development[62]. - The company has achieved a 100% increase in the number of R&D personnel with master's degrees, from 13 in 2021 to 26 in 2022[104]. - R&D investment amounted to ¥59,931,981.38 in 2022, representing 7.78% of total revenue, a decrease from 8.57% in 2021[104]. - The company has developed intelligent variable frequency air source heat pump drying equipment, which has been put into mass production and is being applied in various sectors including tobacco and traditional Chinese medicine drying[38]. - The company is focusing on expanding its digital energy market segment, with ongoing development of intelligent temperature control systems for energy storage applications[104]. Market Trends and Opportunities - In 2022, China's new energy vehicle sales reached 6.887 million units, a year-on-year increase of 93.4%, with a penetration rate of 25.6%[36]. - The new energy storage market is projected to grow rapidly, with a compound annual growth rate (CAGR) of 57.4% from 2021 to 2025, driven by increasing demand for energy storage solutions[42]. - The digital energy intelligent environmental control industry is entering a rapid development phase, with national goals to enhance data center efficiency and capacity significantly by 2023[39]. - The national "dual carbon" goals are expected to create significant opportunities for low-carbon energy-saving equipment, which the company is actively developing[38]. Operational Efficiency and Cost Management - Increased costs were attributed to rising prices of raw materials such as copper, aluminum, and electronic components, impacting overall product costs[3]. - The cost of direct materials for transportation equipment was ¥535,263,456.14, making up 88.68% of total operating costs, with a slight increase from 87.96% in 2021[97]. - The company has enhanced its supply chain management by tracking raw material market trends and implementing measures to ensure supply stability and cost control[85]. - The company has implemented a shift from "scheduled maintenance" and "fault maintenance" to "condition-based maintenance," reducing operational maintenance costs for urban rail transit[80]. Governance and Compliance - The company has established a complete intellectual property protection system to safeguard its proprietary technologies and trade secrets[134]. - The company emphasizes compliance with regulations and effective decision-making to protect the interests of shareholders[175]. - The company has established independent decision-making and supervisory bodies, including a shareholders' meeting, board of directors, and supervisory board, ensuring no operational overlap with controlling shareholders[143]. - The company has implemented a comprehensive internal control system to mitigate operational risks and improve governance, aligning with regulatory requirements and its own management needs[195]. Employee Development and Management - The company has a strong focus on talent development, with a team of experienced professionals in technology and project management, driving innovation and market insight[68]. - The company has established a scientific and reasonable compensation incentive mechanism to enhance employee motivation and promote the achievement of development goals[181]. - The training program includes both internal and external training, aimed at improving overall employee quality and ensuring that personnel possess the necessary skills and professional levels[182]. - The total number of employees at the end of the reporting period was 1,042, with 871 in the parent company and 171 in major subsidiaries[179]. Future Outlook - The company plans to enhance R&D investment and develop new technologies and products to gain a first-mover advantage in the market[133]. - The company aims to enhance its market presence in rail transit air conditioning by developing new clients and applications, targeting both domestic and international markets[127]. - The company is exploring market expansion opportunities to enhance its competitive position[148]. - The company has provided guidance for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[153].