寒锐钴业(300618) - 2022 Q4 - 年度财报

Financial Performance - In 2022, the company's operating revenue was 5,087.02 million yuan, an increase of 16.95% compared to the previous year[3]. - The net profit attributable to the parent company was 212.41 million yuan, a decrease of 67.97% year-on-year[3]. - The significant decline in performance was primarily due to the decrease in cobalt metal prices influenced by economic cycles and supply-demand conditions[3]. - The company's operating revenue for 2022 was CNY 5,087,020,600.16, representing a 16.95% increase compared to CNY 4,349,711,262.50 in 2021[20]. - The net profit attributable to shareholders decreased by 67.97% to CNY 212,411,009.11 from CNY 663,166,173.38 in the previous year[20]. - The basic earnings per share dropped to CNY 0.69, down 67.91% from CNY 2.15 in 2021[20]. - The total net profit for the year was impacted by non-operating losses, including a loss of CNY 11,902,707.52 from non-recurring items[26]. - The company reported a quarterly revenue breakdown with Q1 at CNY 1,572,929,110.38, Q2 at CNY 1,219,674,204.32, Q3 at CNY 1,167,329,932.74, and Q4 at CNY 1,127,087,352.72[22]. Cash Flow and Investments - The cash flow from operating activities showed a significant improvement, reaching CNY 1,621,514,404.22, up 350.81% from a negative cash flow of CNY -646,518,390.82 in 2021[20]. - The company's operating cash inflow increased by 48.82% to CNY 6,110,783,908.71 in 2022, compared to CNY 4,106,271,986.23 in 2021[74]. - Investment cash outflow rose by 51.75% to CNY 3,685,870,559.88, leading to a net cash flow from investment activities of -CNY 1,029,641,446.41, a decrease of 1,788.13%[75]. - The financing cash inflow increased by 55.12% to CNY 2,518,941,549.67, while financing cash outflow surged by 131.74% to CNY 2,698,728,502.14, resulting in a net cash flow from financing activities of -CNY 179,786,952.47[74]. Research and Development - The company has a strong R&D and innovation capability, focusing on cobalt and copper products, and has established a robust supply chain for its operations[38]. - The company added 20 new patents in 2022, including 12 invention patents, 7 utility model patents, and 1 design patent, enhancing its R&D capabilities[45]. - Research and development expenses rose by 42.93% to CNY 56,928,541.53, mainly due to the commencement of R&D activities at Ganzhou Hanrui[65]. - The company is developing new products and technologies to maintain its competitive edge in the ultrafine diamond powder market[66]. Market and Industry Outlook - The demand for cobalt is expected to continue rising due to the growth in the 5G mobile phone market and the stable growth of new energy passenger vehicles, with a projected compound annual growth rate (CAGR) of 42.0% for Battery Electric Vehicles (BEV) globally over the next five years[32]. - China's sales of pure electric vehicles are anticipated to reach 5.392 million units by 2025, reflecting a CAGR of 40.1% from 2020 to 2025[32]. - The company holds a top three global market share for cobalt powder, with a complete industrial chain from cobalt ore development to processing and sales[37]. - The company is expanding its production capacity with a new facility in Ganzhou for 10,000 metric tons of cobalt new materials and 26,000 tons of ternary precursors, enhancing its position in the new energy vehicle supply chain[37]. Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 1.5 yuan (including tax) for every 10 shares, based on a total of 309,617,139 shares[6]. - The company plans to distribute cash dividends of RMB 1.5 per 10 shares, totaling RMB 46,442,570.85, which represents 21.86% of the total distributable profit of RMB 212,411,009.11[171]. - The company has established a profit distribution policy that emphasizes continuous and stable cash dividends, aiming for at least 20% of distributable profits to be allocated as cash dividends annually[167]. Operational Strategies - The company plans to enhance its core competitiveness by strengthening R&D capabilities and adjusting strategies based on external market conditions[3]. - The company focuses on a market-oriented production model, adjusting production based on market demand to improve operational efficiency[41]. - The company aims to enhance the flowability and formability of cobalt carbonate powder, which is crucial for maintaining competitive advantages in the industry[67]. - The company is committed to enhancing the efficiency of its recycling processes to ensure compliance with product quality standards and market demands[69]. Risk Management and Compliance - The company has implemented a comprehensive risk management system to ensure compliance and improve operational efficiency[55]. - The company has established robust internal control and risk prevention mechanisms for its overseas operations[81]. - The company has maintained effective internal controls over financial reporting and non-financial reporting, with no significant deficiencies identified during the evaluation period[176]. - The internal control evaluation report indicates that 100% of the company's total assets and operating income were included in the evaluation scope[176]. Corporate Governance - The company has established a modern corporate governance structure including a shareholders' meeting, board of directors, supervisory board, and management team[129]. - The board of directors consists of 5 members, including 2 independent directors, and the supervisory board has 3 members[135]. - The company has a structured remuneration decision-making process approved by the shareholders' meeting and the board of directors[147]. - The company adheres to strict information disclosure practices, ensuring transparency and timely communication with investors[123]. Employee and Community Engagement - The total number of employees at the end of the reporting period is 1,627, with 76 in the parent company and 1,551 in major subsidiaries[159]. - The company has implemented a competitive salary policy and adheres to national labor laws, ensuring fair performance evaluations[161]. - Community engagement initiatives include donations to local agriculture, healthcare, and women's health training, contributing to local development[188]. - Employee rights are prioritized, with a focus on health, safety, and satisfaction, alongside competitive benefits and a supportive work environment[185].