POCO(SZ:300811)2023-04-25 16:00Financial Performance - In 2022, the company's operating income reached ¥1,065,677,399.27, a significant increase compared to ¥1,042,000,000 in 2021, reflecting a growth of approximately 2.3%[53] - The net profit attributable to shareholders for 2022 was ¥192,062,125.65, up from ¥125,000,000 in 2021, representing a growth of about 53.7%[53] - The company's operating revenue for 2022 was ¥1,065,677,399.27, representing a 46.81% increase compared to ¥725,889,060.83 in 2021[68] - Net profit attributable to shareholders for 2022 was ¥193,062,125.65, a 60.52% increase from ¥120,269,901.67 in 2021[68] - The basic earnings per share for 2022 was ¥1.85, up 59.48% from ¥1.16 in 2021[68] - The total assets at the end of 2022 reached ¥2,248,586,872.34, an 85.10% increase from ¥1,214,792,229.71 at the end of 2021[68] - The net assets attributable to shareholders at the end of 2022 were ¥1,629,094,232.30, a 64.43% increase from ¥990,748,693.13 at the end of 2021[68] - The company's revenue from electronic components reached ¥1,062,733,800.65, with a year-on-year increase of 46.93%[133] - The gross profit margin for electronic components was 37.58%, reflecting an increase of 3.86% compared to the same period last year[133] - The company's financial performance in Q4 2022 showed a net profit of ¥61,600,361.51, which is a 16.9% increase from Q3 2022[53] Market Position and Strategy - The company aims to expand its market presence and enhance its product offerings through strategic partnerships and technological advancements[21] - The company has established long-term stable partnerships with numerous well-known enterprises, including ABB, BYD, and Huawei, enhancing its competitive position in the industry[24] - The company is positioned to benefit from the growing market for energy-efficient technologies and products, as indicated by the supportive regulatory environment[25] - The company is actively involved in the development of new technologies and products to meet market demands, reinforcing its market leadership[31] - The company aims to lead the global metal soft magnetic core industry through continuous innovation and development of new material products[31] - The company is actively expanding its market presence in industries such as variable frequency air conditioning and photovoltaic inverters[94] Research and Development - The company is focused on the development of magnetic materials, including soft magnetic materials and metal soft magnetic powders, which are essential for various electronic applications[17] - The company is actively pursuing research and development initiatives to innovate new products in the magnetic materials sector[21] - The company focuses on R&D and production guided by technical cooperation with users, which drives innovation in power supply and magnetic materials[24] - The company has established a multi-channel talent recruitment model to enhance its R&D capabilities[116] - The company’s NPA and NPX series magnetic powder cores were recognized as high-tech products by the Guangdong Provincial High-tech Industry Association in December 2022, highlighting its innovation capabilities[51] - The company was awarded the 23rd China Patent Excellence Award for its patent on a high-power ring-shaped reactor in April 2022, showcasing its commitment to innovation[51] - The newly developed high-saturation spherical iron-silicon-chromium soft magnetic powder has been recognized by Taiwanese inductor manufacturers[113] Financial Management and Governance - The company has established a robust financial reporting framework to ensure the accuracy and completeness of its financial statements[12] - The company is committed to maintaining transparency and accountability in its operations, as evidenced by the presence of all board members during the report's review[12] - The company has engaged Zhongzheng Zhonghuan Accounting Firm for its auditing services, ensuring compliance with regulatory standards[9] - The company has implemented a project manager responsibility system to enhance cross-departmental collaboration, resulting in a 20% increase in project success rates[150] - The management team has a strong background in production, quality, sales, and product development, ensuring strategic clarity and industry insight[131] Shareholder Information - The company reported a cash dividend of 2.00 RMB (including tax) for every 10 shares, totaling 109,886,026 RMB to all shareholders[13] - The top ten unrestricted shareholders hold a total of 42,000,000 shares, with Shenzhen Moma New Materials Investment Co., Ltd. being the largest shareholder with 28,899,873 shares, accounting for approximately 67% of the total[152] - The company did not experience any changes in its actual controller during the reporting period, which remains a natural person[156] - The company plans to distribute cash dividends of RMB 2.00 per 10 shares based on the 2021 profit distribution plan, with the record date set for July 4, 2022[173] Industry Trends - The global soft magnetic materials market is projected to grow from $51.4 billion in 2019 to $79.4 billion by 2024, with a compound annual growth rate (CAGR) of 9.1%[23] - The total demand for global metal soft magnetic cores is expected to increase from 89,000 tons in 2020 to 201,000 tons by 2025, with the market size rising from $3.07 billion to $7.52 billion, reflecting a CAGR of 15.5%[23] - The demand for metal soft magnetic materials is driven by various sectors, including energy conservation and environmental protection, which are encouraged by national policies[25] - The company's products are widely used in photovoltaic power generation, new energy vehicles, data centers, and energy storage, making it a key player in the "carbon neutrality" industry chain[32] - The company's revenue typically sees a higher performance in the second half of the year due to customer stocking needs for continuous production[23] Operational Highlights - The company has completed the registration address change to Shenzhen Nanshan District, Shuguang Community, Zhigu R&D Building, B Building, 1301, on November 10, 2022[19] - The company is accelerating the construction of automated production lines to prepare for potential market growth[112] - The company is accelerating the construction of the Heyuan production base to meet future production demands[139] - The company has passed multiple quality certifications, including ISO9001 and IATF16949, ensuring robust quality management[130] Financial Ratios - The company's current ratio improved to 3.42, up from 3.32 at the end of the previous year, reflecting a 3.01% increase[194] - The debt-to-asset ratio increased to 27.55%, a rise of 9.11% compared to the previous year[194] - The EBITDA to total debt ratio decreased to 213.49%, down 62.30% from the previous year[194] - The interest coverage ratio improved to 25.62, an increase of 4.49% compared to the previous year[194] - The cash interest coverage ratio was 1.75, a significant improvement from -3.13 in the previous year[194] - The company maintained a loan repayment rate of 100% throughout the reporting period[194]