GRKJ(SZ:300600)2023-04-14 16:00Financial Performance - The company reported a significant reduction in losses compared to the previous year, attributed to normal business operations after a loss of 246 million RMB due to credit impairment and inventory impairment in the prior year [3]. - The company's operating revenue for 2022 was ¥274,372,119.02, representing a 24.66% increase compared to ¥220,089,747.81 in 2021 [26]. - The net profit attributable to shareholders was -¥465,268.76 in 2022, a 99.83% improvement from -¥268,085,255.86 in 2021 [26]. - The cash flow from operating activities showed a significant recovery, reaching ¥36,175,037.60 in 2022, compared to -¥60,155,146.23 in 2021, marking a 160.14% increase [26]. - The total assets at the end of 2022 were ¥1,216,465,649.73, a decrease of 4.92% from ¥1,279,451,059.27 at the end of 2021 [26]. - The company reported a basic earnings per share of -¥0.0016 for 2022, a 99.82% improvement from -¥0.900 in 2021 [26]. - The company has seen a significant reduction in non-recurring losses, with a net profit excluding non-recurring items of -¥7,987,936.46 in 2022, a 97.06% improvement from -¥271,336,785.46 in 2021 [26]. - The company reported a net profit for 2022 of -¥1,727,759.59, representing a 99.36% improvement compared to the previous year [50]. - The company's revenue from ship equipment reached ¥274,372,119, with a year-on-year increase of 24.66% and a gross margin of 35.41% [62]. Business Strategy and Market Focus - The company is transitioning from traditional shipbuilding support to high-end shipbuilding, which carries uncertainties [9]. - The company has identified the shipbuilding and marine engineering sectors as its primary market, which is influenced by global trade and commodity prices [34]. - The company is focusing on high-tech developments in the shipbuilding industry, including green and intelligent ship technologies, as outlined in recent government policies [35]. - The company plans to focus on new business areas such as new energy projects, luxury cruise ships, and unmanned vessels to achieve high-quality transformation and efficient development in 2023 [90]. - The company aims to enhance external cooperation capabilities by leveraging resources from state-owned enterprises and participating in joint research initiatives with institutions like Zhejiang University [91]. - The company intends to increase R&D investment and improve management capabilities, focusing on innovation and upgrading products and services through smart manufacturing and digital technologies [91]. Research and Development - The company is actively involved in the research and development of ship electrical and automation systems, aiming to enhance its market position [34]. - The company focuses on R&D in high-tech ships and marine engineering equipment, achieving breakthroughs in various high-end ship types [36]. - The company's R&D investment in 2022 amounted to ¥21,866,392.86, representing 7.97% of total revenue, an increase from 6.81% in 2021 [71]. - The number of R&D personnel increased by 12.90% from 93 in 2021 to 105 in 2022, with the proportion of R&D staff rising from 19.29% to 23.08% [71]. - The company has a strong focus on technology development, with multiple patented inventions and practical new models in the marine electrical equipment sector [122]. - The company has established a performance evaluation system for determining the remuneration of directors and senior management based on operational performance and job capabilities [127]. Risks and Challenges - The company faces risks related to market demand fluctuations, particularly in the shipbuilding industry, which may impact its operations [4]. - Accounts receivable risks are present due to the long settlement cycles in the industry, potentially affecting cash flow [6]. - The company has a low inventory turnover rate, which increases liquidity risk and may lead to challenges if market conditions change [7]. - There is a risk of technological obsolescence as the company needs to continuously invest in R&D to keep up with advancements in the manufacturing sector [8]. - The company must continuously enhance its R&D efforts to mitigate risks from technological obsolescence and competition from lower-cost products [96]. - Transitioning from traditional shipbuilding support to high-end vessels (luxury cruise ships, new energy ships, and unmanned ships) presents uncertainties [97]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, enhancing operational transparency and accountability [100]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards [101]. - The audit committee, strategic committee, nomination committee, and compensation committee are all composed of 3 members each, fulfilling their respective responsibilities [102]. - The company maintains independence from its controlling shareholders, ensuring no interference in decision-making or operational activities [105]. - The company is actively cooperating with the ongoing investigation by the China Securities Regulatory Commission [190]. Employee and Operational Management - The total number of employees at the end of the reporting period was 455, with 329 in the parent company and 126 in major subsidiaries [142]. - The company conducted 34 various training programs in 2022 to enhance employee skills and management capabilities [146]. - The company emphasizes a fair and competitive salary system to attract and retain talent, combining individual and team performance [144]. - The company has established a mechanism for employee career development, focusing on recruiting and nurturing high-quality graduates [156]. - The company has a diverse management team with extensive experience in finance, engineering, and technology development [126]. Legal Matters - The company is involved in a lawsuit with Jiangsu Changjiang Electronics Technology Co., with a claim amounting to ¥68.09 million, which has been suspended [193]. - The company has filed a lawsuit against Fujian Shunxin Industrial Co., claiming ¥106.83 million in unpaid goods and overdue payment penalties totaling ¥3.53 million [194]. - The company has also initiated legal proceedings against Shanghai Xingdi Communication Technology Co., with claims of ¥44.75 million in unpaid goods and overdue payment penalties of ¥1.14 million [196]. - The company has reported a total of ¥63.07 million in claims against Jiangsu Changjiang Electronics Technology Co. for equipment acceptance and overdue payments [194]. Future Outlook - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% [117]. - The company is expanding its market presence, targeting a 25% increase in market share within the next two years [117]. - A strategic acquisition of a smaller tech firm is anticipated to enhance the company's technological capabilities and is expected to close by Q3 2024 [117]. - The management team emphasized the importance of sustainability, with plans to reduce carbon emissions by 30% over the next five years [117].