WXLH(SZ:300694)2023-04-17 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,484,463,202.63, representing a 6.49% increase compared to ¥1,393,959,652.49 in 2021[21]. - The net profit attributable to shareholders for 2022 was ¥47,688,168.09, a significant turnaround from a loss of ¥18,788,890.09 in 2021, marking a 353.81% increase[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥43,696,046.50, up 284.46% from a loss of ¥23,688,651.49 in 2021[21]. - The basic and diluted earnings per share for 2022 were both ¥0.22, compared to a loss of ¥0.09 per share in 2021, reflecting a 344.44% improvement[21]. - The total assets at the end of 2022 were ¥1,949,589,491.57, a decrease of 2.95% from ¥2,008,938,259.54 at the end of 2021[21]. - The net assets attributable to shareholders increased by 4.02% to ¥1,264,903,630.28 at the end of 2022, up from ¥1,216,022,391.15 at the end of 2021[21]. - The company achieved a net profit of 47.6882 million yuan in 2022, a significant increase of 353.81% compared to the previous year[46]. - The company's operating revenue reached 1.4844632 billion yuan, representing a year-on-year increase of 6.49%[52]. - The sales volume of turbocharger system components was 10.0063 million units, down 4.04% from the previous year, while production was 9.9211 million units, down 8.53%[46]. - The company achieved a gross profit margin of 14.57% in the manufacturing sector, an increase of 3.24% from the previous year[59]. - The company reported a significant increase in credit impairment losses by 236.17% to -¥2,721,014.70, linked to a rise in accounts receivable[67]. - The company reported a decrease in investment income by 9.83% to -¥4,716,630.09, alongside a 16.29% increase in asset impairment losses to -¥7,812,286.95[74]. Dividend Distribution - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares to all shareholders, based on a total of 214,742,977 shares[3]. - The company reported a cash dividend of 10,737,148.85 CNY, which is 0.5 CNY per 10 shares, representing 100% of the total profit distribution[171]. - The total distributable profit for the year was 335,721,628.03 CNY, with cash dividends constituting the entire profit distribution[171]. - The company did not distribute cash dividends or issue new shares for the 2021 fiscal year due to losses, adhering to its profit distribution policy[170]. Risk Management - The report emphasizes the importance of risk management and outlines potential risks and countermeasures in the future development section[3]. - The company faces risks from intensified competition in the automotive market, which may lead to a decline in profitability due to price wars and reduced demand for traditional fuel vehicles[103]. - The company is exposed to foreign exchange risks due to its import and export operations primarily conducted in euros and US dollars, and plans to implement foreign exchange hedging strategies[105]. Operational Changes - The company has undergone a change in its registered address, moving from "No. 2 Huayi Road, Wuxi Binhu Development Zone" to "No. 2 Tianzhu Road, Hudai Town, Wuxi" on April 20, 2018[16]. - The company’s main business and operational model have not undergone significant changes during the reporting period[36]. - The company has established an additional annual production capacity of 3 million compressor housings, which is expected to meet market demand for a certain period[89]. - The company has shifted its R&D focus towards fuel cell components in response to the rapid development of the new energy vehicle market[89]. Research and Development - The company’s R&D investment amounted to ¥62,382,006.50 in 2022, representing 4.20% of total revenue, a decrease from 4.39% in 2021[70]. - The number of R&D personnel decreased by 6.23% from 321 in 2021 to 301 in 2022, with a notable drop in those under 30 years old by 23.53%[70]. - The company completed the development of several turbocharger products aimed at improving fuel efficiency and reducing emissions, enhancing core competitiveness[68]. - The company has invested 100 million CNY in R&D for innovative technologies aimed at reducing emissions by 30%[150]. Market Position and Strategy - The company has over 30 years of experience in the automotive sector, leveraging large-scale production capabilities, strong customer relationships, and high product quality to maintain market competitiveness[35]. - The company is actively expanding its product offerings and customer base in the new energy vehicle sector, aiming for rapid development in this area[35]. - The company aims to deepen its market potential in the new energy vehicle sector by increasing the variety of new energy products and expanding its customer base to boost revenue[99]. - The company is considering refinancing and external mergers and acquisitions to support its expansion plans, depending on business development and capital market conditions[102]. Governance and Compliance - The company completed the re-election of the new board of directors during the reporting period[116]. - The company has established a governance structure compliant with legal requirements, including a shareholder meeting, board of directors, and supervisory board[128]. - The company strictly adheres to information disclosure regulations, ensuring all shareholders have equal access to information[120]. - The company has a complete and independent business, personnel, asset, and institutional structure, ensuring operational autonomy[124]. Environmental Responsibility - The company is committed to environmental protection and safety management, investing in equipment to ensure compliance with environmental standards[108]. - The company has implemented a wastewater treatment system achieving zero discharge, with all wastewater processed and reused in production[199]. - The company has received all necessary environmental permits, valid until 2027, ensuring compliance with local regulations[196]. - The company is committed to sustainable practices, integrating environmental considerations into its operational strategies[199]. Employee Management - The total number of employees at the end of the reporting period was 2,295, with 1,479 at the parent company and 816 at major subsidiaries[166]. - The company has implemented a salary policy that aligns individual employee performance with departmental and company profitability[167]. - The company has initiated training programs aimed at enhancing employee skills and management knowledge to support sustainable development[168]. - The employee stock ownership plan (ESOP) had a total of 2,192,000 shares at the beginning of the reporting period, with 1,096,000 shares not unlocking due to unmet performance targets, resulting in a remaining total of 1,670,000 shares[175].