三一国际(00631) - 2022 - 年度业绩

Financial Highlights The Group achieved approximately RMB 15.54 billion in revenue, a 52.4% increase, and RMB 1.66 billion in net profit, up 32.2%, driven by electrified products and international expansion Financial Highlights | Metric | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue (Billion RMB) | 15.54 | 10.20 | +52.4% | | Net Profit Attributable to Owners (Billion RMB) | 1.67 | 1.26 | +32.2% | | Adjusted Net Profit Attributable to Owners (Billion RMB) | 1.67 | 1.11 | +50.2% | | R&D Expenses (Billion RMB) | 0.86 | 0.75 | +14.5% | - Revenue growth was primarily driven by the successful market launch of electrified products (roadheaders, integrated mining, wide-body vehicles, logistics equipment) and significant international market expansion, with substantial growth in overseas sales of mining and logistics equipment[2] - Increased R&D expenses were mainly due to the company's commitment to enhancing R&D capabilities for intelligent, electrified, and international new products, along with increased compensation incentives for R&D personnel[3] Consolidated Financial Statements This section provides the Group's detailed consolidated financial statements for the year ended December 31, 2022, reflecting its operating results, cash flows, and financial position Consolidated Income Statement In FY2022, the Group's revenue reached RMB 15.54 billion, up 52.4%, with gross profit at RMB 3.63 billion, up 51.8%, and profit for the year at RMB 1.67 billion, up 27.5% Consolidated Income Statement | Item (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Revenue | 15,536,716 | 10,194,616 | | Gross Profit | 3,628,344 | 2,389,640 | | Profit Before Tax | 1,920,933 | 1,438,051 | | Profit for the Year | 1,669,074 | 1,309,158 | | Profit Attributable to Owners of the Parent | 1,664,911 | 1,259,071 | | Basic Earnings Per Share (RMB) | 0.53 | 0.40 | | Diluted Earnings Per Share (RMB) | 0.46 | 0.35 | Consolidated Statement of Comprehensive Income In FY2022, the Group's total comprehensive income reached RMB 1.66 billion, a 26.3% increase from the previous year, primarily driven by profit for the year Consolidated Statement of Comprehensive Income | Item (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Profit for the Year | 1,669,074 | 1,309,158 | | Other Comprehensive Income | (6,378) | 7,796 | | Total Comprehensive Income | 1,662,696 | 1,316,954 | Consolidated Statement of Financial Position As of year-end 2022, the Group's total assets increased to RMB 24.95 billion, up 19.9%, with total liabilities at RMB 14.85 billion, up 23.7%, and net assets at RMB 10.10 billion, up 15.0% Consolidated Statement of Financial Position | Item (Thousand RMB) | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Total Non-current Assets | 7,762,582 | 6,568,046 | | Total Current Assets | 17,190,687 | 14,217,076 | | Total Assets | 24,953,269 | 20,785,122 | | Total Current Liabilities | 10,835,778 | 9,169,811 | | Total Non-current Liabilities | 4,013,717 | 2,832,163 | | Total Liabilities | 14,849,495 | 12,001,974 | | Net Assets | 10,103,774 | 8,783,148 | Notes to the Financial Statements This section details the basis of financial statement preparation, accounting policies, segment information, and the composition and changes of major accounts, with the Group primarily engaged in manufacturing and selling mining and logistics equipment Operating Segment Information The Group's business is divided into mining and logistics equipment segments, with mining equipment revenue at RMB 10.94 billion (up 58.7%) and logistics equipment revenue at RMB 4.59 billion (up 39.3%) in 2022 Segment Revenue | Segment Revenue (Thousand RMB) | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Mining Equipment | 10,942,517 | 6,895,856 | +58.7% | | Logistics Equipment | 4,594,199 | 3,298,760 | +39.3% | Revenue by Region | Revenue by Region (Thousand RMB) | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Mainland China | 11,314,467 | 8,099,167 | +39.7% | | Asia (Excluding Mainland China) | 2,490,272 | 1,048,098 | +137.6% | | European Union | 478,577 | 268,654 | +78.1% | | United States | 548,575 | 337,506 | +62.6% | Revenue, Other Income and Gains In 2022, the Group's total revenue from customer contracts was RMB 15.54 billion, with industrial product sales as the primary source, while other income and gains decreased by 18.2% Revenue Composition | Revenue Composition (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Sales of Industrial Products | 14,823,762 | 9,977,550 | | Installation Services | 170,081 | 42,281 | | Property Sales | 320,854 | - | | Maintenance and Other Services | 222,019 | 174,785 | | Total Revenue from Contracts with Customers | 15,536,716 | 10,194,616 | Dividends The Board proposes a final dividend of HKD 0.19 per ordinary share for the year ended December 31, 2022, an increase from HKD 0.15 in 2021, pending shareholder approval Proposed Final Dividend | Item | 2022 | 2021 | | :--- | :--- | :--- | | Proposed Final Dividend (Per Ordinary Share) (HKD) | 0.19 | 0.15 | Trade and Bills Receivables As of year-end 2022, net trade receivables increased by 48.7% to RMB 7.31 billion, and bills receivables grew by 44.5% to RMB 1.01 billion, aligning with sales growth Trade and Bills Receivables | Item (Thousand RMB) | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Trade Receivables (Net) | 7,304,650 | 4,912,275 | | Bills Receivables | 1,011,765 | 700,270 | Management Discussion and Analysis Management reviews 2022 performance, highlighting achievements in digitalization, electrification, and internationalization strategies, with strong revenue and profit growth, and outlines future plans to deepen these strategies and lead in smart mining and port technologies Business Review In 2022, the Group achieved significant results in digitalization, electrification, and internationalization strategies, including doubled intelligent roadheader sales, accelerated new energy product launches, and a 101.5% increase in overseas revenue - Digitalization Strategy: Intelligent roadheader sales doubled, cumulative sales of intelligent shearers exceeded 100 units, and the overall operational efficiency of smart mining unmanned driving reached 88%[57] - Electrification Strategy: Electric wheel mining trucks and integrated charging/swapping wide-body vehicles were successfully applied, with cumulative sales of electric port equipment exceeding 500 units, securing a dominant market position[59] - Internationalization Strategy: Overseas sales revenue increased by 101.5% year-on-year, with roadheader overseas revenue growing by 247.6% and wide-body vehicle overseas revenue by 135.9%, achieving industry leadership for the first time[56][60] Financial Review In 2022, revenue grew 52.4% to RMB 15.54 billion, driven by intelligent, electrified products and international sales, with gross margin stable at 23.4%, and adjusted net profit attributable to owners increasing by 50.2% - Revenue increased by 52.4%, primarily driven by intelligent and electrified products and international market expansion[61] - Gross margin was 23.4%, consistent with the previous year[64] - Sales and distribution costs increased by 64.6%, mainly due to increased investment in international marketing resources[65] - R&D expenses increased by 14.5%, primarily invested in intelligent roadheaders, smart ports, and robotics[66] - Adjusted profit attributable to owners of the parent (excluding the one-off gain from the disposal of SANY Xinjiang in 2021) increased by 50.2% year-on-year[72] Liquidity and Capital Resources The Group's financial position is robust with improved operational efficiency, as net cash inflow from operations reached RMB 1.08 billion, up 17.5%, and inventory and receivables turnover days decreased Cash Flow Items | Cash Flow Item (Million RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Net Cash Inflow from Operating Activities | 1,084.4 | 922.8 | | Net Cash Inflow from Investing Activities | 639.2 | (296.0) | | Net Cash Outflow from Financing Activities | (376.8) | (226.7) | Turnover Days | Turnover Days | 2022 | 2021 | | :--- | :--- | :--- | | Average Inventory Turnover Days | 94.0 | 105.4 | | Trade and Bills Receivables Turnover Days | 172.7 | 188.5 | Future Development The Group plans to pursue high-quality development by accelerating digitalization, electrification, and internationalization strategies, aiming to lead in smart mining, achieve unmanned port operations, empower manufacturing with robotics, and expand global market share - Adhere to and accelerate digitalization, electrification, and internationalization transformation strategies[87] - Mining Equipment: Become a technology leader in 'electrification, intelligence, complete sets, and green mining'[87] - Logistics Equipment: Achieve comprehensive reduced-manning, unmanned, and zero-emission operations for terminals and yards[87] - Robotics Business: Empower the transformation and upgrading of discrete manufacturing and new energy industries (lithium batteries, wind and solar power, etc)[87] - Internationalization Strategy: Focus on 'six core regions and ten key countries' to develop overseas electrified markets and build an international brand[87] Other Information This section covers important company information including dividend distribution, corporate governance, securities dealings, and results review, confirming a proposed final dividend of HKD 0.19 per share and compliance with governance codes - The Board recommends a final dividend of HKD 0.19 per ordinary share and HKD 0.19 per convertible preference share[88] - The company complied with the code provisions of the Hong Kong Stock Exchange's Corporate Governance Code for the year 2022[90] - The annual results announcement has been reviewed by the company's Audit Committee[95]