Mankun(SZ:301132)2023-04-24 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,041,826,455.01, a decrease of 12.40% compared to ¥1,189,336,830.84 in 2021[27]. - The net profit attributable to shareholders for 2022 was ¥106,837,109.90, representing a slight increase of 0.69% from ¥106,107,496.57 in 2021[27]. - The net profit after deducting non-recurring gains and losses was ¥79,797,731.09, down 7.71% from ¥86,459,733.88 in 2021[27]. - The total assets at the end of 2022 reached ¥2,174,170,473.67, a significant increase of 70.94% from ¥1,271,862,032.36 at the end of 2021[27]. - The net assets attributable to shareholders increased by 150.07% to ¥1,635,235,718.20 at the end of 2022, compared to ¥653,903,073.62 at the end of 2021[27]. - The company reported a basic earnings per share of ¥0.87 for 2022, down 9.38% from ¥0.96 in 2021[27]. - The weighted average return on equity for 2022 was 10.70%, a decrease of 6.96% from 17.66% in 2021[27]. - The company achieved operating revenue of RMB 1.042 billion, a decrease of 12.40% compared to the same period last year[78]. - Net profit attributable to shareholders was RMB 107 million, an increase of 0.69% year-on-year[78]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 3.30 RMB per 10 shares to all shareholders, based on a total of 147,470,000 shares[4]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[4]. - The company has a commitment to transparency, with all board members present for the report's review[4]. Risk Management - The company acknowledges potential risks including increased accounts receivable, fluctuations in raw material prices, intensified market competition, innovation risks, and environmental compliance risks[4]. - The company has established a comprehensive risk management strategy to address various operational risks[4]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments, urging investors to remain aware of investment risks[4]. Market and Industry Insights - The global PCB market is expected to grow at a compound annual growth rate of approximately 3.8% from 2022 to 2027, reaching about $98.39 billion by 2027[40]. - The company operates in the PCB manufacturing industry, which is crucial for the development of electronic information products and is experiencing rapid changes in demand and product iterations[40]. - By 2027, the PCB output value in mainland China is projected to reach approximately $51.13 billion, accounting for about 52% of the global PCB market[41]. - The PCB industry has a wide range of downstream applications, including communication, computing, consumer electronics, automotive electronics, industrial control, medical devices, defense, and aerospace[42]. - The PCB industry faces increasing competition, with many companies focusing on low to mid-end products, leading to a higher industry concentration[132]. Research and Development - The company focuses on R&D and production of single/double-sided and multi-layer printed circuit boards, primarily used in communication electronics, consumer electronics, industrial control, and automotive electronics[47]. - The company emphasizes independent R&D, focusing on updating existing products and innovating in promising fields such as communication electronics, consumer electronics, and automotive electronics[63]. - The company reported a research and development investment of ¥54,136,732.06 in 2022, representing 5.20% of its operating revenue, an increase from 4.54% in 2021[105]. - The number of R&D personnel increased by 6.11% from 180 in 2021 to 191 in 2022, while the proportion of R&D personnel remained relatively stable at 10.24%[104]. - The company has completed multiple core technology R&D projects, resulting in 32 patent inventions and several products recognized as "internationally advanced" or "domestically leading" by the Jiangxi Provincial Department of Industry and Information Technology[68]. Production and Operations - The company has two production bases in Shenzhen and Ji'an, optimizing production processes to enhance production capacity and ensure product reliability and quality[67]. - The company adopts a "make-to-order" production model, ensuring timely production and delivery by prioritizing its own production lines and outsourcing non-critical processes when necessary[61]. - The company has successfully launched new products, including gesture-sensing smart interactive circuit boards and high-frequency high-speed automotive circuit boards, enhancing production capacity[102]. - The company aims to enhance its market share through the optimization of manufacturing processes and new product introductions[99]. - The company has achieved a testing yield of ≥100% for a new LCD PCB testing fixture, indicating significant improvements in production efficiency[101]. Governance and Management - The company has strengthened its internal governance structure and risk control capabilities, implementing various management systems to enhance corporate governance[70]. - The governance structure includes a board of directors with 7 members, of which 3 are independent directors, ensuring compliance with legal regulations[154]. - The company has an independent financial accounting department and makes autonomous financial decisions, with no shared bank accounts with the controlling shareholder[161]. - The company has maintained a consistent board structure with all current directors serving until October 2024[166]. - The company appointed Hong Lixuan as the new General Manager on September 9, 2022, following the resignation of Hong Junchen[168]. Customer and Supplier Relations - The company has established long-term relationships with major brand clients, providing a stable order guarantee and creating favorable conditions for new customer development[72]. - The company has reduced customer concentration, with the top five customers' revenue share decreasing from 69.65% in 2020 to 49.82% in 2022[81]. - The top five customers contributed 46.83% of the total annual sales, amounting to ¥487,876,820.63[92]. - The top five suppliers accounted for 32.12% of the total annual purchases, with a total procurement amount of ¥290,986,531.26[94]. Environmental and Compliance - Environmental protection compliance is critical, with ongoing investments needed to meet increasing regulatory standards and mitigate pollution risks[147]. - The company has not encountered any issues regarding the disclosure of fundraising usage or compliance violations[127]. Future Outlook - The company projects a revenue growth of 20% for the next fiscal year, targeting 1.44 billion yuan[175]. - The company aims to enhance its product innovation and technology development to achieve breakthroughs in automotive electronics and consumer electronics[134]. - The company plans to focus on developing brand customers in key sectors such as automotive electronics, consumer electronics, and communication electronics, aiming to enhance market share and brand reputation[135].