HuaRui(SZ:300626)2023-04-27 16:00Financial Performance - The company reported a total revenue of RMB 180 million for the year 2022, representing a year-on-year increase of 15%[3]. - The net profit attributable to shareholders was RMB 30 million, which is a 10% increase compared to the previous year[3]. - The company's operating revenue for 2022 was ¥668,860,359.95, a decrease of 31.96% compared to ¥983,012,300.20 in 2021[19]. - The net profit attributable to shareholders for 2022 was ¥24,848,933.43, down 40.60% from ¥41,835,513.99 in 2021[19]. - The net profit after deducting non-recurring gains and losses was ¥21,616,370.77, a decline of 53.93% from ¥46,925,046.86 in 2021[19]. - The total revenue for Huari Electric Co., Ltd. in 2022 was CNY 3,598 million[94]. - The company achieved a net profit of 300 million RMB, which is a 15% increase compared to the previous year[137]. - The company achieved a net profit attributable to shareholders of 24,848,933.43 yuan in 2022, with a net profit of 21,616,370.77 yuan after deducting non-recurring gains and losses[167]. Revenue Breakdown - Revenue from the power tool sector fell to ¥143 million, a significant drop of 50.64% year-on-year[30]. - Revenue from the home appliance sector reached ¥98.79 million, down 23.88% compared to the previous year[31]. - In 2022, the company's revenue from commutator products in the automotive motor sector was 226 million yuan, a year-on-year decrease of 5.19%[32]. - The main business income was 520 million yuan, down 29.73% year-on-year, and net profit was 24.85 million yuan, a decrease of 40.60%[36]. - The revenue from the main product, the commutator, was CNY 510.80 million, representing 98.14% of the main business revenue[190]. Market Outlook and Strategy - Future outlook indicates a focus on expanding market share in the electric appliance sector, targeting a growth rate of 20% in the next fiscal year[3]. - The company expects a recovery in the home appliance market in 2023 as consumer confidence improves[31]. - Huari Electric plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[136]. - The company is exploring potential acquisitions to strengthen its supply chain and product offerings[137]. - A new product line is set to launch in Q3 2023, projected to contribute an additional 100 million RMB in revenue[138]. Investment and R&D - The company is investing in new product development, particularly in the area of brushless motor technology, with an expected launch in Q3 2023[3]. - The company is investing 200 million RMB in R&D for new product development, focusing on smart home technologies[137]. - The company developed 96 new products in 2022, including 29 for the insert type, 50 for the all-plastic type, and 17 for the roll plate type[40]. - The company is focusing on opportunities in the new energy vehicle motor market, with an increase in order volume for commutator products[38]. Operational Efficiency and Cost Management - The company plans to mitigate rising raw material costs by exploring new suppliers and optimizing internal processes[37]. - The company aims to improve production efficiency through automation and smart manufacturing, addressing issues related to manual operations and production costs[76]. - The company’s gross margin improved to 35%, up from 32% in the previous year, reflecting better cost management[136]. Risk Management - The company has identified potential risks including supply chain disruptions and is developing contingency plans to mitigate these risks[3]. - The company faces risks from macroeconomic fluctuations that could impact its key industries, including automotive and home appliances[76]. - The company is exposed to raw material price volatility, particularly for copper and phenolic resin, which could affect its cash flow and operating performance[76]. Corporate Governance - The company strictly adheres to legal regulations and guidelines for corporate governance, ensuring compliance with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[82]. - The board of directors consists of 9 members, including 3 independent directors, and held 6 meetings, ensuring compliance with relevant laws and regulations[85]. - The company has established a complete and independent governance structure, including a shareholders' meeting, board of directors, supervisory board, and management team[90]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,613, an increase from 10,490 at the end of the previous month[175]. - The largest shareholder, Sun Ruiliang, holds 41,474,532 shares, representing 23.04% of the total shares, with no change during the reporting period[175]. - The total number of restricted shares at the end of the reporting period was 2,698,500, with 42,149,982 shares released from restrictions during the period[173]. Internal Control and Compliance - The internal control system was evaluated for effectiveness and compliance with relevant laws and regulations[120]. - The company reported no significant internal control deficiencies during the reporting period[121]. - The audit concluded that management's judgments and estimates regarding the provision for bad debts were reasonable[194]. Employee Information - The total number of employees at the end of the reporting period was 1,273, with 909 in production, 168 in technical roles, and 38 in sales[115]. - The company has committed to providing various training opportunities for employees, including management and professional skills training[117].