锦盛新材(300849) - 2022 Q4 - 年度财报

Financial Performance - The company experienced a significant decline in performance due to reduced demand from downstream customers, resulting in decreased revenue[3]. - The company's operating revenue for 2022 was ¥242,773,752.42, a decrease of 17.19% compared to ¥293,159,461.84 in 2021[24]. - The net profit attributable to shareholders was -¥22,509,546.17, representing a decline of 312.62% from ¥10,586,961.03 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was -¥28,288,751.75, a decrease of 1,307.90% compared to ¥2,341,985.69 in 2021[24]. - The company's gross margin for cosmetic packaging in 2022 was 8.73%, down 14.41% from 23.14% in 2021[70]. - The company's external sales revenue was CNY 120.49 million, a decrease of CNY 35.27 million year-on-year, primarily due to increased competition and a 25% tariff on imports to the U.S.[70]. - Domestic sales revenue was CNY 122.29 million, down CNY 15.12 million year-on-year, influenced by reduced consumer spending and travel willingness[70]. - The company reported a significant asset impairment loss of -¥5,223,875.93, primarily due to inventory write-downs[87]. Operational Strategy - The company plans to enhance profitability by increasing R&D investment, improving product quality, and developing new products[4]. - The company aims to strengthen marketing efforts to attract new high-quality customers[4]. - The company will continue to improve automation and information technology to optimize personnel structure and reduce labor cost impacts[4]. - The overall operational profitability level of the company is expected to improve through enhanced management and optimized business processes[5]. - The company acknowledges potential risks in its future operations and has outlined corresponding countermeasures[5]. - The company has developed strong technical capabilities, holding 66 patents and a series of non-patented technologies to enhance economic efficiency[63]. - The company operates with a just-in-time production model, maintaining low inventory levels and ensuring efficient order delivery[54]. - The company has established a comprehensive supply chain with local suppliers for packaging components, improving procurement efficiency[51]. Market Position and Competitiveness - The company has a strong competitive position in the domestic market, benefiting from the increasing demand for high-quality packaging solutions[42]. - The company has been a supplier to multiple well-known domestic and international cosmetic brands, enhancing its recognition in the cosmetic plastic packaging industry[43]. - The cosmetics market in China saw a retail total of ¥3,936.00 billion in 2022, a year-on-year decline of 2.24%[36]. - The company has over 1,000 product specifications in cosmetic plastic packaging, primarily using materials such as PMMA, PETG, ABS, AS, and PP[44]. - The company emphasizes innovation and green development, using recyclable plastic materials in response to national low-carbon consumption initiatives[69]. Investment and Future Plans - The company plans to increase production capacity by 6 million sets of cosmetic packaging containers by 2025, with a current annual production capacity of 4.5 million sets initiated in July 2021[100]. - The company is currently constructing a project with an annual production capacity of 60 million cosmetic packaging containers, which began in January 2022[71]. - The company has achieved a production capacity of 45 million sets of cosmetic packaging containers with the new automated workshop project launched in July 2021[109]. - The company plans to change the "annual increase of 15 million sets of cosmetic packaging containers" project to "annual production of 60 million sets of cosmetic packaging containers" due to current production capacity meeting market demand[103]. - The company is focusing on sustainable packaging solutions using recyclable materials to meet consumer demands and improve market competitiveness[84]. Governance and Compliance - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, organization, and business operations[136]. - The company has established an independent financial department and accounting system, ensuring no shareholder interference in financial decisions[136]. - The company has updated its governance structure to comply with the latest regulatory requirements, enhancing its governance level[130]. - The company has designated specific media outlets for information disclosure, ensuring equal access to information for all shareholders[132]. - The company actively communicates with stakeholders to balance interests among shareholders, employees, customers, and society[133]. Employee and Management Structure - The total number of employees at the end of the reporting period was 812, with 599 in production, 23 in sales, 81 in technology, 8 in finance, and 101 in administration[166]. - The company has a salary policy that aligns employee compensation with local industry standards, ensuring competitive pay for key positions and performance-based bonuses[168]. - The company has emphasized the importance of human resources management by appointing a dedicated HR manager to oversee personnel matters[149]. - The management team includes professionals with diverse backgrounds, enhancing the company's strategic direction and operational efficiency[145]. Risk Management - The company faces risks from macroeconomic fluctuations, trade tensions, and raw material price volatility, which could adversely affect its operations[117][126]. - The company is monitoring exchange rate fluctuations closely, as its foreign sales are primarily settled in U.S. dollars, which poses a risk to its financial performance[124]. - The company is committed to improving its research and development capabilities to mitigate risks associated with raw material price fluctuations and enhance product competitiveness[119][126]. Shareholder Relations and Dividends - The company has no plans to distribute cash dividends or issue bonus shares[6]. - The company reported a net profit of negative value for 2022, leading to a proposal not to distribute cash dividends or issue bonus shares[174]. - The company maintains a cash dividend policy to ensure shareholder returns, actively engaging with investors through various communication channels[184]. - The company implements an active profit distribution policy to ensure reasonable and stable returns for investors[196].