LONGLI(SZ:300752)2023-04-20 16:00Financial Performance - In 2022, the company achieved a revenue of 1.252 billion yuan, a year-on-year decrease of 36.63%, and a net loss of 330 million yuan, a year-on-year decline of 208.46%[6]. - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[24]. - The company's operating revenue for 2022 was ¥1,252,061,622.47, a decrease of 36.63% compared to ¥1,975,929,423.72 in 2021[31]. - The net profit attributable to shareholders was -¥329,877,878.64, representing a decline of 208.46% from -¥106,944,910.01 in the previous year[31]. - The gross profit margin for 2022 was reported at 30%, with efforts to improve this figure through cost optimization strategies[24]. - The company experienced a significant decline in net profit, with a net loss of -¥350,700,965.17 after deducting non-recurring gains and losses, compared to -¥123,359,493.56 in 2021, a decrease of 184.29%[31]. - The total net assets attributable to shareholders decreased by 28.57% to ¥772,252,127.45 at the end of 2022, down from ¥1,081,101,093.00 in 2021[31]. - The company reported a basic earnings per share of -¥1.58, a decrease of 192.59% compared to -¥0.54 in 2021[31]. - The company reported a net profit of -9,142.47 million RMB for 2022, indicating a decline in profitability due to weak global consumer demand and increased competition in the industry[159]. Asset Management - The company recognized asset impairment losses totaling 270.29 million yuan, with 222.21 million yuan related to traditional business assets and 48.08 million yuan for receivables and inventory[7]. - The total assets at the end of 2022 were ¥1,711,758,260.01, down 33.39% from ¥2,569,888,936.66 at the end of 2021[31]. - The company has no significant changes in the measurement attributes of its main assets during the reporting period[147]. Research and Development - Despite the downturn, the company maintained a strong R&D team of 351 personnel, accounting for 26.45% of total employees, focusing on upgrading Mini-LED and Micro-LED technologies[8]. - The company is investing RMB 200 million in R&D for new technologies, focusing on OLED and Micro-LED advancements[24]. - The company has applied for 512 patents, including 149 invention patents, with 317 authorized patents[97]. - The company’s R&D investment amounted to ¥84,131,173.96 in 2022, representing 6.72% of total revenue, an increase from 5.29% in 2021[139]. - The number of R&D personnel decreased by 14.39% to 351 in 2022, while the proportion of R&D personnel increased to 26.45% from 15.47% in 2021[139]. Market Opportunities - The Mini-LED market is projected to reach 9.343 billion USD by 2027, with a compound annual growth rate of 78.3% from 2021 to 2027, indicating significant growth potential for the company[11]. - The company has established production capabilities for Mini-LED technology and has received recognition from well-known domestic and international clients, including partnerships in the automotive and VR sectors[12]. - The company plans to enhance its operational efficiency and improve profitability through internal management and by expanding its Mini-LED and Micro-LED technology applications[13]. - The company has set a revenue guidance for 2023, projecting an increase of 10% to 12% over the 2022 figures[24]. - The automotive display market is projected to reach 68.1 billion USD globally by 2030, with China expected to become the largest market[100]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market presence[24]. - A strategic partnership with a leading tech firm is expected to boost the company's competitive edge in the AR and VR sectors[24]. - The company is actively pursuing new technology development, including Micro-LED technology, to enhance its competitive strength in the industry[56]. - The company is focusing on expanding into new markets such as automotive and smart wearables, leveraging its expertise in Mini-LED and Micro-LED technologies[79]. - The company is committed to enhancing its human resource capabilities to support high-quality development and meet business expansion needs[109]. Operational Efficiency - The company aims to reduce operational costs by 8% in 2023 through efficiency improvements and process automation[24]. - The company is focusing on digital transformation to improve operational efficiency and reduce costs through the integration of various management systems[106]. - The company plans to implement cost reduction and efficiency improvement measures to enhance capital utilization and production efficiency[171]. - The company is committed to improving production processes and controlling costs to mitigate the impact of raw material price fluctuations on its operations[180]. Customer and Supplier Relations - The company has established a stable customer base, including high-end clients such as Bosch and BYD, which enhances its market position and ensures long-term partnerships[83]. - The company maintains long-term relationships with multiple suppliers to ensure stable quality and supply of raw materials[72]. - Total sales amount from the top five customers reached ¥1,024,004,755.37, accounting for 81.79% of the annual total sales[131]. - The largest customer contributed ¥481,593,727.97, representing 38.46% of the annual sales[131]. - Total procurement amount from the top five suppliers was ¥345,408,227.71, making up 35.91% of the annual total procurement[132]. Governance and Compliance - The company has established a governance structure that includes a board of directors with 7 members, 3 of whom are independent directors, ensuring compliance with regulatory requirements[190]. - The company maintains independence from its controlling shareholder, ensuring no misuse of company funds and proper governance practices[192]. - The management team is committed to executing board resolutions and is evaluated based on performance and innovation capabilities[194]. - The company has implemented strict information disclosure management systems to ensure accurate, complete, and timely information dissemination to investors[196]. - The company has a complete and independent financial department, adhering to accounting laws and standards, with no shared bank accounts with shareholders[200].