Financial Performance - Revenue for the year ended December 31, 2022, was RMB 10,255,225 thousand, representing a 7.2% increase from RMB 9,566,382 thousand in 2021[1] - Profit attributable to equity holders of the company increased by 5.2% to RMB 486,512 thousand, compared to RMB 462,498 thousand in the previous year[3] - Basic earnings per share rose to RMB 0.437, up 5.3% from RMB 0.415 in 2021[3] - The company reported a total comprehensive income of RMB 140,649 thousand for the year, down from RMB 553,639 thousand in 2021[5] - The company reported a pre-tax profit of RMB 596,093 thousand for 2022, up from RMB 566,659 thousand in 2021, reflecting a growth of 5.2%[9] - The company’s basic earnings per share increased to RMB 0.436 in 2022 from RMB 0.414 in 2021, reflecting a growth of about 5%[35] - The company's net profit attributable to ordinary shareholders for 2022 was RMB 486,512,000, an increase from RMB 462,498,000 in 2021, representing a growth of approximately 5.4%[36] - The group’s net profit for 2022 was approximately RMB 485 million, reflecting a growth of about RMB 12 million or 2.4% year-on-year[51] Dividends - The company proposed a final dividend of RMB 0.098 per share, equivalent to 11.0 HKD cents[1] - The proposed final dividend for 2022 is RMB 0.098 per share, compared to RMB 0.095 per share in 2021, indicating a slight increase[33] - The board proposed a final dividend of RMB 0.098 per ordinary share for the year ended December 31, 2022, compared to RMB 0.095 per share in 2021, representing an increase of 3.2%[61] - The interim dividend paid on September 26, 2022, was RMB 0.120 per ordinary share, an increase from RMB 0.112 per share in 2021, reflecting a rise of 7.1%[61] - The board's recommendation for the final dividend is subject to approval at the annual general meeting scheduled for May 29, 2023[61] - The company has established a dividend entitlement deadline for shareholders on June 1, 2023, at 4:30 PM[65] Assets and Liabilities - Total non-current assets increased to RMB 6,683,943 thousand from RMB 6,225,095 thousand in 2021[6] - Total current assets rose to RMB 7,390,563 thousand, compared to RMB 6,766,719 thousand in the previous year[6] - Total liabilities increased significantly, with current liabilities reaching RMB 6,828,393 thousand, up from RMB 4,891,907 thousand in 2021[6] - Net assets attributable to equity holders decreased to RMB 5,728,402 thousand from RMB 5,819,039 thousand in 2021[7] - The total trade receivables and notes receivable at the end of 2022 amounted to RMB 2,738,201,000, up from RMB 2,488,620,000 in 2021, indicating an increase of about 10.0%[38] - The trade payables and notes payable at the end of 2022 totaled RMB 2,422,478,000, an increase from RMB 2,323,753,000 in 2021[39] Cash Flow and Investments - Operating cash flow for 2022 was RMB 1,047,125 thousand, an increase of 28.3% from RMB 816,079 thousand in 2021[9] - Net cash used in investing activities was RMB (807,463) thousand, compared to RMB (510,068) thousand in 2021, indicating a 58.2% increase in cash outflow[10] - Cash flow from operating activities after tax payments was RMB 894,550 thousand, an increase of 37.1% from RMB 652,227 thousand in 2021[9] - Cash and cash equivalents at the end of 2022 reached RMB 2,380,067 thousand, a 24.1% increase from RMB 1,917,295 thousand in 2021[11] - The group had contracted but unrecognized property, plant, and equipment amounting to RMB 463,023 thousand as of December 31, 2022, slightly up from RMB 459,311 thousand in 2021[57] Revenue Breakdown - Revenue from tinplate packaging decreased to RMB 4,212,735 thousand in 2022 from RMB 4,461,124 thousand in 2021, representing a decline of 5.6%[19] - Revenue from aluminum packaging increased significantly to RMB 5,368,106 thousand in 2022, up 20.3% from RMB 4,463,374 thousand in 2021[19] - Revenue from plastic packaging rose to RMB 674,384 thousand in 2022, a growth of 5.0% compared to RMB 641,884 thousand in 2021[19] - Revenue from mainland China accounted for RMB 9,572,088 thousand in 2022, up from RMB 8,846,844 thousand in 2021, marking a growth of 8.2%[20] - Revenue from overseas customers was RMB 683,137 thousand in 2022, a decrease of 5.0% from RMB 719,538 thousand in 2021[20] - Major customer A contributed RMB 1,380,647 thousand to total revenue in 2022, while major customer B contributed RMB 1,101,412 thousand[21] Costs and Expenses - Gross profit for the year was RMB 1,282,140 thousand, down from RMB 1,330,211 thousand in 2021[3] - Bank loan interest expenses increased significantly to RMB 101,964,000 in 2022 from RMB 71,080,000 in 2021, representing a rise of about 43%[27] - Total finance costs, including bank loan interest and lease liabilities, amounted to RMB 104,494,000 in 2022, up from RMB 87,717,000 in 2021, marking an increase of approximately 19%[27] - Research and development costs rose to RMB 93,366,000 in 2022, compared to RMB 90,053,000 in 2021, an increase of approximately 4%[29] - Other income decreased to RMB 136,476,000 in 2022 from RMB 162,672,000 in 2021, a decline of approximately 16%[25] Operational Highlights - The company operates 38 subsidiaries and has established a strong customer base, including many well-known domestic and international brands[40] - The company continues to focus on digitalization and new product development to enhance its competitive edge in the packaging industry[44] - The group plans to enhance low-carbon product innovation and environmental product development to meet consumer demand for sustainable packaging[50] - The group aims to improve its core competitive advantage through increased investment in digitalization and information development[50] Employee and Governance - As of December 31, 2022, the group had a total employee cost of approximately RMB 799 million, compared to RMB 769 million in the same period last year, reflecting an increase of 3.9%[60] - The group employed 5,945 full-time employees as of December 31, 2022, a decrease from 6,049 employees in 2021, indicating a reduction of 1.7%[59] - The employee distribution by function as of December 31, 2022, shows that production and quality control accounted for 71.7% of total employees, with 4,263 individuals in that category[60] - The company has confirmed compliance with the Corporate Governance Code for the year ending December 31, 2022[67] - The company has a Compensation Committee, Audit Committee, Nomination Committee, and Risk Management Committee, primarily composed of independent non-executive directors[66][68][69] Audit and Compliance - The company’s auditor has issued a report without reservation for the financial statements for the year ended December 31, 2021[14] - The Audit Committee has reviewed the draft consolidated financial statements for the year ending December 31, 2022, and has no objections to the annual performance announcement[67] - The preliminary financial figures for the year ending December 31, 2022, have been agreed upon by the auditors, but no assurance has been provided regarding the preliminary performance announcement[71] - The annual report for 2022 will be published on the stock exchange and the company's website in due course[71] Foreign Exchange and Risk Management - The group’s foreign exchange risk is minimal as most assets, revenues, and cash balances are settled in RMB, with only a portion in USD, EUR, and HKD[58]
中粮包装(00906) - 2022 - 年度业绩