Financial Performance - Revenue increased by approximately 24.7% to about RMB 2,882.9 million (FY 2021: RMB 2,312.5 million) [2] - Gross profit rose by approximately 38.4% to about RMB 882.1 million (FY 2021: RMB 637.4 million) [2] - Profit attributable to owners of the company surged by approximately 100.4% to about RMB 431.3 million (FY 2021: RMB 215.2 million) [2] - Basic earnings per share increased by 104.8% to approximately RMB 0.43 (FY 2021: RMB 0.21) [2] - Total comprehensive income for the year amounted to RMB 507.1 million, compared to RMB 177.2 million in the previous year [6] - The group's profit before tax for 2022 was RMB 431,296,000, a significant increase of 100.1% compared to RMB 215,240,000 in 2021 [25] - The total tax expense for the year was RMB 86,091,000, which is a 96.7% increase from RMB 43,707,000 in 2021 [22] - Other income and gains surged to approximately RMB 80.3 million in fiscal year 2022, a significant increase from RMB 21.1 million in fiscal year 2021, primarily due to net foreign exchange gains of RMB 48.9 million [42] - Total comprehensive income for fiscal year 2022 was RMB 507.1 million, compared to RMB 177.2 million in fiscal year 2021, including a profit of RMB 428.5 million [48] Dividends - Proposed final dividend is HKD 0.14 per share [2] - The mid-term dividend per ordinary share for 2022 was RMB 0.0513, compared to RMB 0.045 in 2021, representing a 6.0% increase [23] - The proposed final dividend per ordinary share for 2022 is HKD 0.14, significantly higher than HKD 0.0213 in 2021, marking a 558.6% increase [23] - The company has proposed a final dividend of HKD 0.14 per share, resulting in a payout ratio of 40.7% based on a net profit of RMB 428.5 million for the fiscal year 2022 [56] - The company plans to pay the proposed final dividend on or around July 10, 2023, pending shareholder approval at the annual general meeting [62] Assets and Liabilities - Net asset value increased by approximately 17.9% to about RMB 2,918.8 million (FY 2021: RMB 2,475.3 million) [2] - Current assets increased to RMB 1,978.975 million from RMB 1,535.450 million in the previous year [7] - Total equity rose to RMB 2,918.8 million from RMB 2,475.3 million in the previous year [8] - Non-current assets in China decreased to RMB 1,211,096 thousand in 2022 from RMB 1,303,911 thousand in 2021, a decline of 7.1% [15] - The company’s total non-current assets increased to RMB 1,972,574 thousand in 2022 from RMB 1,846,877 thousand in 2021, reflecting a growth of 6.8% [15] - Trade receivables at the end of 2022 totaled RMB 793,662,000, an increase from RMB 612,466,000 in 2021, indicating a growth of 29.5% [27] - Trade payables at the end of 2022 were RMB 389,526,000, compared to RMB 359,021,000 in 2021, reflecting an increase of 8.5% [28] - As of December 31, 2022, the company had interest-bearing bank borrowings of RMB 145.9 million, with a debt-to-equity ratio of 5.0% [49][51] Capital Expenditures - Capital expenditures decreased by approximately 60.5% to about RMB 167.2 million (FY 2021: RMB 423.7 million) [2] - Capital expenditures for fiscal year 2022 totaled approximately RMB 167.2 million, a decrease from RMB 423.7 million in fiscal year 2021, focused on expanding production capacity in China and Mexico [53] - The company has invested RMB 389.0 million in establishing a new production base in Mexico, representing 52.5% of the total proceeds utilization [55] - The company has allocated RMB 42.3 million to enhance product quality, safety, and R&D capabilities, accounting for 5.7% of the total proceeds [55] Research and Development - Research and development costs for 2022 amounted to RMB 73,159,000, up from RMB 68,703,000 in 2021, reflecting a growth of 6.7% [19] - Significant investments in research and development for electric vehicles and autonomous driving technologies are expected to continue, with many manufacturers planning to launch level 3 automated vehicles in 2023 [34] Market Performance - Revenue from North America increased significantly to RMB 1,263,074 thousand in 2022, up 62.7% from RMB 775,449 thousand in 2021 [14] - The company's revenue from Europe slightly decreased to RMB 434,995 thousand in 2022 from RMB 437,182 thousand in 2021, a decline of 0.5% [14] - The overall revenue proportion from China decreased to approximately 37.3%, a drop of 5.5 percentage points compared to the previous year [37] - North America revenue surpassed that of China for the first time in 2022, with an increase of over 40% in average selling prices [37] - The average selling price of automotive decorative parts rose significantly to approximately RMB 7.06 per piece, an increase of about 20.7% compared to the previous fiscal year [36] Operational Challenges - The company anticipates continued pressure on profits and growth in the automotive supply sector due to semiconductor shortages and rising material costs, particularly in Europe [34] - The group anticipates smaller margins in 2023 due to balanced supply and demand, ongoing cost increases, and more price-sensitive consumer demand [36] - The company expects the automotive industry to face ongoing challenges but remains focused on the transition to electric vehicles and improving battery performance and charging infrastructure [34] Corporate Governance - The board has emphasized the importance of good corporate governance, adhering to the corporate governance code throughout the fiscal year 2022 [65] - The company has adopted the standard code of conduct for securities trading as outlined in Appendix 10 of the Listing Rules, confirming compliance for the fiscal year 2022 [66] - The Audit Committee has reviewed the consolidated financial statements for the fiscal year 2022, including accounting principles and internal controls [67] - The Audit Committee has recommended the reappointment of Ernst & Young as the auditor for the fiscal year ending December 31, 2023, pending shareholder approval [67] - The consolidated financial statements for the fiscal year 2022 have been agreed upon by Ernst & Young, ensuring consistency with the draft financial statements [68] - The company's annual report for the fiscal year 2022 will be distributed to shareholders and published on the company's website in due course [69]
信邦控股(01571) - 2022 - 年度业绩