JINXD(SZ:300830)2023-04-13 16:00Financial Performance - The company's operating revenue for 2022 was ¥627,826,046.18, representing a 4.73% increase compared to ¥599,447,757.52 in 2021[17]. - The net profit attributable to shareholders for 2022 was ¥57,168,279.57, a decrease of 13.09% from ¥65,782,064.64 in the previous year[17]. - The net cash flow from operating activities was negative at -¥45,195,514.79, a decline of 176.93% compared to ¥58,751,269.74 in 2021[17]. - Basic earnings per share for 2022 were ¥0.13, down 13.33% from ¥0.15 in 2021[17]. - Total assets at the end of 2022 amounted to ¥1,369,946,136.71, an increase of 4.15% from ¥1,315,396,174.03 in 2021[17]. - The net assets attributable to shareholders at the end of 2022 were ¥1,209,745,863.06, reflecting a 2.14% increase from ¥1,184,420,945.23 in 2021[17]. - The company reported a weighted average return on equity of 4.78% for 2022, down from 5.76% in 2021[17]. - The net profit after deducting non-recurring gains and losses for 2022 was ¥45,060,969.21, a slight decrease of 1.65% from ¥45,816,228.45 in 2021[17]. - The company achieved operating revenue of CNY 627.83 million in 2022, representing a year-on-year growth of 4.73%[69]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was CNY 45.06 million, a decrease of 1.65% compared to the previous year[69]. - Revenue from the power sector accounted for 74% of total revenue, with a year-on-year increase of 5.69% to CNY 464.58 million[71]. - The software development and implementation segment generated CNY 602.99 million, making up 96.04% of total revenue, with a growth of 7.78% year-on-year[71]. - The gross profit margin for software development and implementation was 40.82%, showing a slight decrease of 0.76% year-on-year[75]. Cash Flow and Investment - The company reported a negative cash flow from operating activities of CNY -45.20 million, a decline of 176.93% compared to the previous year[69]. - Operating cash inflow decreased by 10.88% to CNY 533,172,024.20, while operating cash outflow increased by 7.20% to CNY 578,367,538.99, resulting in a net cash flow from operating activities of -CNY 45,195,514.79[93]. - Investment cash inflow increased by 34.57% to CNY 2,102,880,026.38, leading to a net cash flow from investing activities of CNY 104,771,454.68, a significant improvement compared to the previous year[93]. - The company’s cash flow from financing activities showed a net outflow of CNY 25,162,200.65, a 90.14% increase in outflow compared to the previous year[93]. - The total investment amount for the reporting period was CNY 1,998,108,571.70, representing a 24.22% increase compared to CNY 1,608,547,640.70 in the same period last year[102]. Research and Development - Research and development expenses increased by 41.37% to ¥99,942,166.36, primarily due to investments in the low-code platform[83]. - R&D investment amounted to ¥103,827,025.54, representing 16.54% of operating revenue, up from 12.84% in the previous year[88]. - The company plans to continue increasing R&D investment in its low-code development platform to strengthen its core competitiveness[69]. - The company has focused on developing low-code and artificial intelligence technologies to drive sustainable growth[88]. - The company has a technical team with over 80% of personnel in R&D, enhancing its innovation capabilities and project implementation experience[68]. Market and Growth Strategy - The company is aligned with national strategies promoting digital transformation and innovation, which are expected to enhance its growth prospects[29]. - The company aims to build an intelligent and comprehensive railway information infrastructure by 2025, enhancing digitalization across various business areas and improving cybersecurity capabilities[35]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[157]. - The company is set to launch a new software product in Q2 2023, anticipated to generate an additional 100 million RMB in revenue within the first year[157]. - The company aims to reduce operational costs by 10% through efficiency improvements and automation initiatives in 2023[157]. Customer Base and Sales - The company has established a solid customer base in the information management software service sector for industries like electricity and railways, but faces increasing market competition that could impact market share and performance if not addressed[128]. - The top five customers contributed ¥402,333,936.70 in sales, representing 64.08% of the annual total sales[82]. - The company reported that sales revenue from State Grid Corporation accounted for 50.39% of its main business revenue in 2022[125]. - The company plans to enhance its sales system and expand its customer base to include more central enterprises and leading private companies[123]. Governance and Management - The company has implemented a robust corporate governance structure in compliance with relevant laws and regulations, ensuring effective operation and protection of shareholder rights[133]. - The board of directors consists of 8 members, including 3 independent directors, and actively participates in various training to enhance their capabilities[136]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, and operations, ensuring a complete business system[141]. - The company has a governance structure that includes independent directors and a board of supervisors[143]. - The company has been actively involved in the management of its human resources, with several key personnel changes in the reporting period[148]. Employee and Compensation - Employee compensation accounted for 71.66% of operating costs, with a total amount of ¥264,457,836.20, showing a slight increase of 0.85% year-on-year[80]. - The total number of employees at the end of the reporting period is 2,765, with 2,054 in the parent company and 711 in major subsidiaries[173]. - The employee composition includes 1,786 technical personnel, 679 R&D personnel, and 97 sales personnel, reflecting a strong focus on technical and research capabilities[173]. - The company emphasizes a competitive compensation structure to attract and retain talent, aligning salaries with industry standards and performance metrics[175]. - The company distributed cash dividends of ¥22,366,500, with a payout ratio of 100% of the distributable profits, reflecting a commitment to returning value to shareholders[178]. Risks and Challenges - The company has acknowledged potential risks in its future development outlook, which are detailed in the management discussion section of the report[3]. - The company faces risks from rising labor costs due to its talent-intensive nature, with plans to enhance project management and increase per capita revenue to mitigate this risk[127]. - The company’s revenue exhibits seasonal fluctuations, with lower earnings in the first half of the year and higher earnings in the second half, primarily due to the investment approval processes of major clients like the State Grid Corporation[129]. Technology and Innovation - The company is actively exploring AI applications in the power sector, utilizing technologies like NLP and OCR to enhance operational efficiency and reduce costs[44]. - The company has developed various software platforms, including a low-code development platform and a knowledge graph visualization platform, to support digital transformation for medium and large enterprises[40]. - The company has established a "dual-wheel drive strategy," focusing on both industry digital solutions and the development of standardized, general-purpose software centered around an "AI low-code" platform[40]. - The company emphasizes continuous technological innovation to maintain its competitive edge in a rapidly changing market environment[128].