ACETRON(SZ:300706)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥694,831,276.76, representing a 13.84% increase compared to ¥610,367,634.70 in 2021[20]. - The net profit attributable to shareholders for 2022 was ¥14,083,603.32, a decrease of 20.25% from ¥17,660,778.48 in 2021[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,834,114.97, down 36.36% from ¥10,739,359.81 in 2021[20]. - The net cash flow from operating activities was -¥7,534,368.23, a decline of 123.68% compared to ¥31,818,192.18 in 2021[20]. - The total assets at the end of 2022 were ¥1,422,054,432.23, an increase of 12.55% from ¥1,263,540,067.03 at the end of 2021[20]. - The net assets attributable to shareholders at the end of 2022 were ¥741,360,328.07, a slight decrease of 0.37% from ¥744,083,390.77 at the end of 2021[20]. - The company reported a basic earnings per share of ¥0.09 for 2022, down 25.00% from ¥0.12 in 2021[20]. - The weighted average return on net assets for 2022 was 1.91%, a decrease of 1.31% from 3.22% in 2021[20]. - The company experienced significant cash flow challenges, with negative cash flow in three out of four quarters in 2022[22]. Dividend Distribution - The company reported a cash dividend of 0.10 RMB per 10 shares (including tax) to all shareholders, based on a total of 152,852,499 shares[7]. - The company reported a total cash dividend of RMB 1,528,524.99, which accounts for 100% of the distributable profit for the year[161]. - The total number of shares for the cash dividend distribution is based on 152,852,499 shares, with a dividend of RMB 0.10 per 10 shares[161]. Project Development and Investment - The "Flat Panel Display Sputtering Target Material Construction Project" has completed its fundraising and is currently in the capacity utilization ramp-up phase[5]. - The "Ultra High Definition Display Copper Target Material Industrialization Construction Project" is still under construction[5]. - The company aims to improve the utilization rate of new production lines, which will become a significant source of cash flow in the coming years[40]. - The company completed the acquisition of 100% equity in Fujian Dingling New Materials Co., Ltd., expanding its operational scope[51]. - The company has committed a total investment of CNY 29,251.19 million, with a cumulative investment of CNY 19,702.87 million, achieving an investment progress of 67.3%[82]. - The flat panel display sputtering target material project has an investment of CNY 9,000 million, with a cumulative input of CNY 7,647.57 million, reaching 84.97% of the planned investment[82]. - The ultra-high-definition display copper target material project has an adjusted total investment of CNY 12,000 million, with a current input of CNY 3,537.15 million, achieving 31.68% of the investment[82]. Market Strategy and Expansion - The company plans to enhance market research efforts to adapt product production to downstream market demand changes and explore potential markets[5]. - The company is actively exploring market expansion opportunities and potential mergers and acquisitions to drive growth[5]. - The company plans to expand the application of PVD coating technology, focusing on the ITO target material for heterojunction solar cells and the development of composite copper foil[40][41]. - The company is focusing on the development of aluminum-neodymium alloy target materials, which are crucial for high-performance display applications[60]. - The company plans to enhance its market position by continuing to innovate and develop new functional thin film materials, focusing on the PVD coating materials sector[96]. Research and Development - The company has over 250 sets of major production equipment and more than 100 sets of R&D and testing equipment, highlighting its strong R&D capabilities[34]. - Research and development expenses increased by 6.76% to ¥25,684,649.51 compared to the previous year[57]. - The company is developing new high-purity metal target materials for the integrated circuit and electronics industries, aiming to fill a domestic market gap[58]. - The company has developed a new substrate material for Micro LED/Mini LED technology, focusing on metal substrates like molybdenum (Mo) to enhance GaN epitaxy growth[59]. - The company is conducting research on molybdenum-niobium alloy targets for AMOLED applications, aiming to enhance performance metrics such as resistivity and corrosion resistance[59]. Human Resources and Management - The company has implemented measures to improve the efficiency of talent recruitment and strengthen corporate culture training for management and technical personnel[7]. - The total number of employees at the end of the reporting period was 425, with 274 in the parent company and 151 in major subsidiaries[153]. - The company has established a comprehensive human resources development goal and planning process to improve overall efficiency[100]. - The company is focusing on the introduction of high-end overseas talent, including R&D personnel, marketing staff, and management, to enhance its core competitiveness[100]. - The company’s remuneration policy aims to ensure internal fairness and external competitiveness, with a performance-based salary system[154]. Governance and Compliance - The company has established a risk management system for futures hedging, including internal controls and compliance with relevant laws and regulations[76]. - The company has maintained independence from its controlling shareholder in terms of assets, personnel, finance, and operations, with no instances of fund occupation or guarantees provided to the controlling shareholder[111]. - The company has a complete business structure independent of the controlling shareholder, with no significant unfair related transactions or interference in decision-making[112]. - The company has established a sound organizational structure with independent functioning departments, ensuring no subordinate relationship with the controlling shareholder[115]. - The company emphasizes the importance of maintaining a robust internal control system to mitigate risks associated with futures trading[75]. Environmental Responsibility - The company invested a total of 740,100 RMB in environmental protection measures during the reporting period[192]. - The company strictly adhered to various environmental protection laws and standards, ensuring compliance in its operations[186]. - There were no administrative penalties related to environmental issues during the reporting period[192]. Shareholder Engagement - The company has established a dedicated investor hotline, email, and interactive platforms to enhance communication with investors since its listing in September 2017[109]. - The company has established effective communication channels with investors, including online performance briefings and interactive platforms[192]. - The company emphasizes the importance of considering minority shareholders' interests in decision-making processes[147].