Financial Performance - The company's operating revenue for 2022 was ¥340,433,254.52, a decrease of 17.11% compared to ¥410,682,574.71 in 2021[25]. - The net profit attributable to shareholders for 2022 was ¥46,204,897.03, down 22.53% from ¥59,642,434.30 in 2021[25]. - The basic earnings per share for 2022 was ¥0.47, representing a decline of 28.79% from ¥0.66 in 2021[25]. - Total assets at the end of 2022 reached ¥1,019,854,500.47, an increase of 64.01% from ¥621,815,200.27 at the end of 2021[25]. - The net assets attributable to shareholders increased by 142.03% to ¥915,738,066.65 at the end of 2022, compared to ¥378,363,748.46 at the end of 2021[25]. - In 2022, the company achieved operating revenue of 34,043.33 million yuan, a decrease of 17.11% year-on-year, and a net profit attributable to shareholders of 4,620.49 million yuan, down 22.53% year-on-year[71]. - Overall operating revenue decreased by 17.11% to CNY 340.43 million, with engineering machinery contributing 69.29% of total revenue, down from 76.91% the previous year[84]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.7 RMB per 10 shares based on a total share capital of 120,000,000 shares as of December 31, 2022[4]. - The company has not issued any bonus shares or capital reserves for the year 2022[5]. - The company has a total share capital of 120 million shares as of the end of 2022[4]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, indicating that these do not constitute commitments to investors[3]. - The company is committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming the integrity of the annual report[3]. - The company is committed to maximizing shareholder value through diligent management and operational efficiency[167]. - The company emphasizes strict compliance with information disclosure regulations, ensuring accurate and timely communication with investors through various channels[169]. Market and Industry Insights - The company experienced a significant decline in the excavator market, with domestic sales dropping by 44.6% in 2022, totaling 151,900 units[35]. - The company anticipates a recovery in the domestic engineering machinery market, supported by government investment policies and infrastructure projects, with a projected 20.2% increase in new project investments[35]. - The aftermarket for excavators dominates the engineering machinery sector, with a significant market size driven by the replacement frequency of sealing components and the growing preference for original parts among end users[36]. - The company is focusing on new product and technology development, particularly in smart and electric machinery, to capture growth opportunities in both domestic and international markets[35]. Research and Development - The company maintains a high R&D investment, with 102 authorized patents, including 2 invention patents and 100 utility model patents, ensuring continuous technological output[63]. - The company has a robust core technology team with no key personnel turnover during the reporting period, ensuring strong R&D capabilities[69]. - The company is committed to breaking the technical monopoly of foreign manufacturers in the seal market through innovative product development[96]. - The company is focused on enhancing product reliability and lifespan through the development of new materials and sealing systems[99]. Sales and Marketing Strategy - The company operates a "direct sales as the main, distribution as a supplement" sales model, focusing on both original equipment manufacturers (OEM) and aftermarket customers[50]. - The company has established long-term partnerships with leading domestic enterprises such as SANY Group and XCMG, enhancing its market position and customer base[44]. - The company has established partnerships with international brands such as FESTO, Caterpillar, and Volvo, enhancing its brand's international presence[56]. - The company aims to enhance its competitive strength through increased R&D and equipment investments, positioning itself for future growth[57]. Financial Management - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[155]. - The company reported a net increase in cash and cash equivalents of ¥400,628,954.41, a significant turnaround from a decrease of ¥1,796,813.20 in 2021[102]. - The company has a procurement model that adapts to market prices and inventory, with significant price fluctuations in raw materials observed in the first half of the year[59]. - The company has established a performance assessment mechanism that respects the rights of stakeholders, promoting sustainable development[170]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements for corporate governance[162]. - The company held 3 shareholder meetings during the reporting period, ensuring fair treatment of all investors, particularly minority shareholders[161]. - The internal audit department operates independently, ensuring the integrity of financial information and compliance with internal controls[168]. - The company has a complete business structure with independent R&D, procurement, production, and sales systems, capable of operating independently in the market[178]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[156]. - The company has set a revenue guidance of 1.5 billion RMB for the fiscal year 2023, projecting a growth of 25% compared to 2022[192]. - New product launches are expected to contribute an additional 200 million RMB in revenue in 2023, focusing on innovative sealing technology[192]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[192].
唯万密封(301161) - 2022 Q4 - 年度财报