江苏雷利(300660) - 2022 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of CNY 2,899,943,674.28 in 2022, a decrease of 0.65% compared to 2021[23]. - Net profit attributable to shareholders increased by 5.96% to CNY 258,716,253.41 in 2022[23]. - The company reported a 46.04% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, reaching CNY 339,147,374.22[23]. - The total assets of the company increased by 10.13% to CNY 4,943,415,095.50 by the end of 2022[23]. - The company reported a total revenue of 1.5 billion CNY for the fiscal year 2022, representing a year-over-year increase of 15%[125]. - The company reported a net profit margin of 12% for the fiscal year 2022, an increase from 10% in the previous year[125]. - The company has provided a performance guidance for 2023, expecting a revenue growth of 10% to 12%[194]. Revenue Breakdown - The company's export revenue accounted for 48.41% of total revenue during the reporting period, primarily settled in USD and EUR[5]. - Revenue from high-end industrial control motors grew by 17.33% to CNY 347 million in 2022[33]. - Revenue from automotive components surged by 38% to CNY 328 million, driven by demand for electronic water pumps and aluminum die-casting products[33]. - The revenue from photovoltaic energy storage cooling water pumps reached CNY 42.17 million, a significant increase of 467.84%[33]. - Sales revenue from medical devices and components grew by 83.74% in 2022, indicating strong demand in the healthcare sector[33]. - The revenue from air conditioning motors and components was CNY 762,123,277.40, accounting for 26.28% of total revenue, down 5.05% year-on-year[49]. - Revenue from washing machine pumps and components decreased by 20.17% to CNY 455,401,143.22, representing 15.70% of total revenue[49]. - The automotive parts segment saw a significant increase in revenue, rising 38.23% to CNY 327,872,359.62, which is 11.31% of total revenue[49]. Cost Management - The average proportion of raw material costs in the company's main business costs over the past three years was 74.23%, significantly impacting the company's gross margin[8]. - The company has implemented a cost management system that monitors raw material and component costs in real-time, effectively controlling production costs[45]. - Material costs for air conditioning motors decreased by 11.66% to ¥361,620,819, while labor costs increased by 6.57% to ¥150,155,755[56]. - The material costs for automotive parts increased by 28.96% to ¥191,612,497, reflecting a growing demand in the automotive sector[56]. Research and Development - The company emphasizes the importance of technological innovation and product development to maintain competitive advantage in the market[4]. - The company is focused on enhancing its research and development capabilities to keep pace with industry technological advancements[4]. - The company has established a collaborative internal R&D model to enhance product development efficiency and meet customer needs more rapidly[36]. - The total R&D investment in 2022 was CNY 132.76 million, accounting for 4.58% of operating revenue, slightly down from 4.69% in 2021[66]. - The company is committed to enhancing its research and development efforts in the fields of medical devices and industrial control brushless motors[103]. Market Expansion and Strategy - The company plans to accelerate the promotion of new products and expand into high-demand markets to mitigate adverse factors affecting operations[33]. - The company plans to focus on expanding its automotive parts segment, which has shown strong growth potential[54]. - The company is pursuing an internationalization strategy, with plans to establish a second overseas production base following its first in Vietnam[104]. - The company plans to expand its market presence in Southeast Asia, targeting a 5% market share by the end of 2023[125]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for this purpose[130]. Risk Management - The company faces risks from rising labor costs, which could affect profitability if the trend continues[7]. - The company acknowledges potential adverse effects on performance if the RMB continues to appreciate against the USD and EUR[6]. - The company has implemented forward foreign exchange contracts to manage significant fluctuations in exchange rates, keeping the impact on operating performance manageable[107]. - The company maintains a controllable interest rate risk, with rates generally aligned with benchmark rates[107]. Corporate Governance - The audit committee consists of independent directors, ensuring oversight of financial information and internal controls[116]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and checks and balances[163]. - The company has a clear asset ownership structure, with no guarantees provided for the debts of shareholders[119]. - The company has maintained compliance with regulatory requirements regarding the remuneration of its board members[134]. Employee Management - The total number of employees at the end of the reporting period is 3,753, with 1,206 in the parent company and 2,547 in major subsidiaries[145]. - The company has established a multi-level compensation and benefits system to attract and retain key talent, adjusting salary ranges annually based on market research[147]. - The company emphasizes training as a key investment for enhancing employee quality and improving core competitiveness[148]. - The company has implemented stock incentive plans for core talents to stabilize and motivate key team members[147]. Environmental and Social Responsibility - The company strictly adhered to environmental protection laws and regulations, with no administrative penalties due to environmental issues during the reporting period[182]. - The company implemented measures to reduce carbon emissions, aligning with national standards for waste reduction[183]. - The company emphasized its commitment to social responsibility, focusing on economic, environmental, and social development[184]. Profit Distribution - The company plans to distribute a cash dividend of 4.6 yuan per 10 shares, totaling 120,579,218.56 yuan, which represents 24.44% of the total distributable profit[154]. - The company has a clear and transparent profit distribution policy that complies with its articles of association[152]. - The company has committed to avoiding any form of competition with its controlled enterprises, both domestically and internationally[190].