Citic Press(SZ:300788)2023-03-28 16:00Financial Performance - In 2022, the company's operating revenue was approximately ¥1.80 billion, a decrease of 6.31% compared to ¥1.92 billion in 2021[23]. - The net profit attributable to shareholders was approximately ¥126.09 million, down 47.81% from ¥241.60 million in 2021[23]. - The cash flow from operating activities was approximately ¥146.39 million, representing a decline of 48.61% from ¥284.87 million in 2021[23]. - The basic earnings per share decreased to ¥0.66, down 48.03% from ¥1.27 in 2021[23]. - Total assets at the end of 2022 were approximately ¥3.19 billion, a decrease of 5.67% from ¥3.39 billion at the end of 2021[23]. - Total operating revenue for 2022 was ¥1,800,734,642.6, a decrease of 6.31% compared to ¥1,922,104,554.3 in 2021[49]. - Net profit attributable to shareholders was ¥126,087,994.09, down 47.81% year-on-year, with a net profit excluding non-recurring items of ¥118,434,788.92, a decrease of 44.13%[41]. Dividend Policy - The company reported a cash dividend of 3.52 RMB per 10 shares, based on a total of 190,151,515 shares, with no bonus shares issued[7]. - The cash dividend represents 100% of the distributable profit, which amounts to 1,011,222,549.52 CNY[127]. - The company plans to distribute cash dividends of no less than 20% of the distributable profits achieved in the current year[152]. - The company commits to a cash dividend distribution policy where the cash portion should be at least 80% if in a mature development stage without major capital expenditures[152]. Market Trends and Challenges - The company reported a significant decline in the retail book market, with a 11.77% decrease in 2022 compared to 2021[34]. - The physical bookstore channel saw a dramatic decline of 37.22% in retail book sales, exceeding the decline levels of 2020[34]. - The company faces challenges related to digital transformation, including rapid changes in technology and market trends such as the metaverse and AIGC[83]. - The company is at risk of changes in tax incentives and government subsidies that could impact its publishing and retail operations[84]. Strategic Initiatives - The company is focusing on digital content production and distribution through its app and various online platforms[35]. - The company aims to enhance its publishing business advantages and optimize mechanisms for sustained performance growth[74]. - The company will implement the "2023 Reform 4.0 Plan" and "AIGC Digital Publishing Framework Plan" to align with world-class standards[75]. - The company will deepen the role of thematic publishing in supporting national strategies and long-term academic publishing[76]. Research and Development - The company’s technology R&D investment increased by 30.1% year-on-year, while logistics efficiency improved by 11.2%[40]. - R&D investment amounted to ¥22,585,509.46 in 2022, representing 1.25% of total revenue, up from 0.90% in 2021[59]. - The number of R&D personnel increased by 15.79% to 44 in 2022, with a proportion of 4.09% of total employees[59]. Governance and Compliance - The company has a well-defined governance structure with established rules for the shareholders' meeting, board of directors, and supervisory board[93]. - The company has a diverse board of directors, including independent directors, ensuring a balanced governance approach[96]. - The company emphasizes the importance of governance and compliance, as indicated by the structured appointment of new board members and supervisors[97][103]. - The company is committed to adhering to relevant laws and regulations in its operations and governance[115]. Community Engagement and Social Responsibility - The company has completed the construction of 20 "Dream Bookhouses" in rural schools, donating books and shelves to support children's education[142]. - The company actively participated in the first National Reading Conference, donating over 4,000 books to promote reading culture[141]. - The company has implemented energy-saving measures, significantly reducing equipment operating time and eliminating the use of non-degradable plastic products[139]. Future Outlook - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 12% based on current market trends[109]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[145]. - The company aims to reduce operational costs by 15% through efficiency improvements and technology integration[145].