WXLH(SZ:300694)2023-07-24 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 in 2021, reflecting a 344.44% increase[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 gross profit margin for the manufacturing sector was 14.57%, up by 2.54% from the previous year[59]. - The company reported a significant decrease in financial expenses by 65.03%, amounting to 3,012,527.63 CNY, due to increased exchange gains from the depreciation of the RMB against the USD[66]. 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[4]. - The company reported a cash dividend of 10,737,148.85 CNY, which represents 100% of the total profit distribution amount[170]. - The cash dividend per 10 shares was 0.5 CNY, with no shares distributed as bonuses or capital reserves[170]. - The company did not distribute cash dividends or bonus shares for the 2021 fiscal year due to losses, as per the profit distribution policy[169]. Operational Risks and Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, indicating that these do not constitute commitments to investors[4]. - The report includes a detailed description of potential operational risks and corresponding mitigation measures in the section on future development outlook[4]. - The company has established a unique management mechanism since 2015, which focuses on production efficiency, cost optimization, and continuous micro-innovation[45]. - The company has maintained a low defect rate in product quality, receiving multiple international quality awards from well-known turbocharger manufacturers[45]. - The company’s management and automation levels still require improvement compared to advanced enterprises in the industry[45]. Market and Product Development - The global automotive production in 2022 was 82.49 million units, with sales at 78.35 million units, indicating a recovery in the market[32]. - The domestic automotive market in China saw production and sales of 27.02 million and 26.86 million units respectively in 2022, with year-on-year growth of 3.4% and 2.1%[32]. - The rapid growth of new energy vehicles, particularly pure electric vehicles, poses a significant impact on the company's existing main business, as these vehicles do not require internal combustion engines or turbochargers[34]. - 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’s products are tailored for various applications, including traditional fuel vehicles, hybrid vehicles, and hydrogen fuel cell vehicles, enhancing fuel efficiency and performance[39]. - The company is focusing on the new energy sector, establishing partnerships with various clients for hydrogen fuel cell vehicle components[54]. - The company aims to deepen its presence in the electric vehicle sector by enhancing product quality and production efficiency, targeting a rapid expansion in revenue from new energy products[96]. Research and Development - Research and development expenses increased by 2.05% to 62,382,006.50 CNY in 2022, compared to 61,129,112.90 CNY in 2021[66]. - The company completed several key R&D projects aimed at enhancing product efficiency and reducing emissions, which are expected to strengthen its competitive edge in the automotive sector[68]. - The focus of R&D has shifted towards fuel cell components in response to the rapid development of the new energy vehicle market[86]. - The company is investing 100 million RMB in R&D for innovative technologies aimed at improving energy efficiency by 30%[147]. Governance and Compliance - The company has completed the restructuring of its board and supervisory committee, ensuring compliance with legal and regulatory requirements[113][115]. - The company strictly adheres to the information disclosure management system, ensuring all shareholders have equal access to information[117]. - The company maintains independence in operations, assets, personnel, and finances from its controlling shareholders and related parties[121]. - The company has established a governance structure with a shareholders' meeting, board of directors, and supervisory board, ensuring independent operation[125]. - The company’s governance structure complies with legal regulations, showing no significant discrepancies with the requirements set by regulatory authorities[120]. Environmental Responsibility - The company is committed to environmental protection and safety, investing in equipment to ensure compliance with environmental standards and prevent accidents[105]. - The company has maintained compliance with environmental regulations, with no major pollution sources identified in its operations[193][194]. - The company has implemented a wastewater treatment system achieving zero discharge, with advanced processes including anaerobic and aerobic treatment[197]. - The company has invested in air pollution control measures, ensuring that emissions from production processes meet regulatory standards[196]. - The company’s environmental monitoring is conducted regularly by third-party agencies to ensure compliance with environmental laws[196]. Employee and Management Changes - The total number of employees at the end of the reporting period was 2,295, with 1,479 in the parent company and 816 in major subsidiaries[165]. - The company has undergone significant management changes, with multiple resignations and appointments in key positions[134]. - The company’s management structure includes a compensation and assessment committee that proposes remuneration plans[152]. - The company plans to conduct training programs aimed at enhancing employee skills and management knowledge to ensure sustainable development[167]. Future Outlook - The company plans to accelerate the construction of its industrial base and promote digital transformation in 2023, aiming to create an intelligent factory with real-time information reliability and secure data sharing[95]. - The company aims to achieve a revenue growth rate of over 10% in the coming years[131]. - The company is exploring potential mergers and acquisitions to strengthen its market position[131]. - The company plans to improve product yield and completion rates by 2% in 2023 through process optimization and the implementation of the LIM management mechanism[97].