COTRAN(SZ:300731)2023-04-25 16:00Financial Performance - The company's operating revenue decreased compared to the previous year due to the transfer of 32% equity in Guangdong Deruiyuan New Materials Technology Co., Ltd. in 2021, impacting the consolidation scope [5]. - The company's operating revenue for 2022 was CNY 520,291,413.48, a decrease of 8.47% compared to CNY 568,414,718.40 in 2021 [26]. - The net profit attributable to shareholders was a loss of CNY 26,711,868.91, representing a decline of 109.54% from a loss of CNY 12,747,816.68 in the previous year [26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 34,415,649.44, a decrease of 90.39% compared to a loss of CNY 18,076,021.39 in 2021 [26]. - The company reported an operating loss of CNY 34.91 million, a decline of 70.21% year-on-year [52]. - The company's total revenue for 2022 was approximately ¥520.29 million, a decrease of 8.47% compared to ¥568.41 million in 2021 [59]. - The company reported a significant increase in revenue for 2022, reaching a total of 1.5 billion RMB, representing a year-over-year growth of 25% [161]. Research and Development - The company increased R&D investment in the new energy sector, resulting in a significant rise in R&D, financial, and management expenses compared to the previous year [5]. - The company continues to focus on independent research and development to enhance its competitive position in the rubber and plastic products industry [36]. - The company has applied for a total of 40 patents related to waterproof protection products, with a strong emphasis on technology accumulation and industry influence [44]. - The company is developing a new generation of integrated, multifunctional waterproof devices for 5G base station equipment [78]. - The company is focusing on the development of thermal management systems in the new energy sector to enhance operational capabilities [7]. - The company is developing high-performance waterproof sealing products for security camera RJ45 connectors, which is expected to increase revenue during the product ramp-up phase [79]. - The company has committed to increasing investment in innovation to enhance product quality and competitiveness [113]. Market Strategy and Expansion - The company plans to strengthen its core business and enhance technical R&D capabilities while expanding its market presence in the new energy and energy storage sectors [7]. - The company aims to improve profitability by solidifying its main business and increasing market share and product competitiveness [7]. - The company anticipates that the recovery of the economy in 2023 will drive demand for high-performance special rubber materials in various sectors [37]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years [159]. - The company will focus on the emerging business of thermal management systems for new energy vehicles and energy storage systems, leveraging its subsidiary's technology and customer base [112]. Financial Management and Governance - The company will not distribute cash dividends or issue bonus shares, nor will it increase capital using reserves [10]. - The company has established a robust corporate governance structure in compliance with relevant laws and regulations, enhancing operational transparency [120]. - The company has a performance evaluation and incentive mechanism for senior management, aligning with its development status [123]. - The company has established an independent accounting system and financial management policies, ensuring no shared bank accounts with controlling shareholders [127]. - The company has a commitment to transparency regarding any failure to fulfill its obligations, including public explanations and apologies to shareholders [197]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and market conditions, highlighting the uncertainty in achieving its forecasts [9]. - The company acknowledges risks related to macroeconomic conditions, industry competition, raw material price fluctuations, and management capabilities [115][116]. - The company will focus on integrating acquired businesses to mitigate potential goodwill impairment risks and ensure stable development [116]. Employee and Operational Management - The company has a performance-based compensation system in place, aligning employee incentives with organizational goals and market salary benchmarks [166]. - The workforce composition includes 440 production staff, 125 technical personnel, and 44 sales staff, indicating a strong focus on production and technical expertise [165]. - The company has implemented a performance evaluation system to foster employee growth and development [185]. - The company has established operational procedures and standards to ensure the safety of employees in various production roles [188]. Environmental and Social Responsibility - The company emphasizes a core value of "customer-centric" and aims to provide comprehensive solutions in new material applications [184]. - The company is committed to environmental protection, adhering to national and local regulations to prevent pollution and ensure safety [186]. - The company actively participated in social welfare activities, including donations to the Shenzhen Courage Foundation and the Guangdong Poverty Alleviation Project [189]. Shareholder Relations and Commitments - The company has established a clear framework for share reduction methods, including centralized bidding and block trading [193]. - The company will ensure timely and accurate information disclosure regarding any share reductions [193]. - The company committed to distributing at least 20% of the annual distributable profits as cash dividends to shareholders [198]. - The company will publicly explain any failure to fulfill commitments in shareholder meetings and designated publications [198].