SHINRY(SZ:300745)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,515,316,496.31, representing a 62.15% increase compared to ¥934,523,265.24 in 2021[25]. - The net profit attributable to shareholders was a loss of ¥28,046,537.62 in 2022, a decline of 210.12% from a profit of ¥25,468,302.39 in 2021[25]. - The total assets at the end of 2022 amounted to ¥3,018,380,149.40, reflecting a 44.11% increase from ¥2,094,478,178.34 at the end of 2021[25]. - The basic earnings per share for 2022 was -¥0.24, a decrease of 209.09% from ¥0.22 in 2021[25]. - The cash flow from operating activities showed a net outflow of ¥195,293,479.94, which is a 51.16% increase in outflow compared to ¥129,198,125.71 in 2021[25]. - The company reported a total of ¥39,964,221.76 in non-recurring gains and losses for 2022, compared to ¥47,570,398.47 in 2021[33]. - The company’s weighted average return on equity was -2.50% in 2022, down from 2.79% in 2021[25]. - The revenue after deducting non-main business income was ¥1,479,834,844.16 in 2022, compared to ¥907,014,199.78 in 2021[26]. - The total operating revenue for 2022 reached ¥1,515,316,496.31, representing a 62.15% increase compared to ¥934,523,265.24 in 2021[69]. - The total operating cost for 2022 was ¥1,307,276,062.78, with a gross profit margin of 13.73%[71]. Market Position and Product Development - The company has established a strong market position in the vehicle power supply sector, serving major clients such as BYD, Geely, and Xpeng Motors, and is expanding into international markets[38]. - The core products in the new energy vehicle business include onboard chargers (OBC) and DC/DC converters, which are widely applicable across various types of new energy vehicles[39]. - The company is committed to developing new technologies in hydrogen energy and fuel cells for various applications[17]. - The company has developed its onboard DC/DC converter to the fifth generation, with output power ranging from hundreds to thousands of watts[45]. - The onboard charger has also reached its fifth generation, with output power covering 3 kW to tens of kW, designed for charging the power batteries of new energy vehicles[45]. - The company’s high-voltage power control assembly integrates multiple high-voltage components, enhancing vehicle design efficiency and reducing space requirements[45]. - The company’s high-power charging products provide rapid charging services of 150 kW to 350 kW for pure electric and plug-in hybrid vehicles[45]. - The company is actively participating in hydrogen fuel cell projects, establishing stable partnerships with several vehicle manufacturers[38]. Research and Development - The company invested CNY 11,386.17 million in R&D during the reporting period, an increase of 28.79% year-on-year[68]. - The company is in the R&D phase for several new projects, including a 3.3kW bidirectional integrated charging product platform aimed at enhancing product competitiveness in the hybrid vehicle market[78]. - The company has established a complete product development management system that meets international cybersecurity standards, receiving ISO/SAE 21434 certification[62]. - The number of R&D personnel increased by 23.89% to 363, with a significant rise in the number of employees holding bachelor's degrees by 43.17%[80]. Governance and Management - The company emphasizes the importance of information disclosure, ensuring timely and accurate communication with shareholders[123]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[122]. - The company has a structured remuneration decision process based on operational performance and management responsibilities[142]. - The company has a fully independent operational management structure, with no institutional overlap with the controlling shareholder[125]. - The company has established a commitment to uphold transparency and accountability in its financial reporting practices[182]. - The company has committed to continuously strengthening internal supervision and management to optimize governance systems and ensure investor interests are maintained[172]. Risks and Challenges - The company faces a significant risk due to high customer concentration, with sales to the top five customers representing a substantial portion of total revenue[110]. - The company acknowledges potential financial risks, including slow accounts receivable recovery and fluctuations in raw material prices, which could impact cash flow and operational stability[113]. - The company’s gross margin fluctuations are primarily influenced by raw material prices, product prices, unit costs, sales structure changes, and exchange rate fluctuations[115]. - If the company fails to effectively address the risk of declining product gross margins and does not expand its business through new product development and new customer acquisition, there is a risk of performance decline[115]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 25% for 2023, driven by new product launches and market expansion[187]. - The company plans to enhance its internal R&D capabilities and increase investment in technology development to ensure product competitiveness and sustainable growth[105]. - The company aims to expand its product line and application areas in response to the growing demand for core components in the new energy vehicle market[107]. - The company is exploring potential acquisitions to enhance its product offerings and market reach, with a budget of 500 million RMB allocated for this purpose[185]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[185]. Corporate Social Responsibility - The company donated a total of 115,000 RMB to local charities during the reporting period, supporting flood relief efforts[178]. - The company actively respects and maintains the rights of stakeholders, promoting environmental protection and corporate social responsibility[123]. - The company has implemented measures to reduce carbon emissions, although specific details were not disclosed[175]. - The management team emphasized a commitment to sustainability, with plans to achieve carbon neutrality by 2025[139].