Revenue Performance - The total revenue for the commercial vehicle division was RMB 3,619,542,000, a significant decrease of approximately 19.4% compared to the previous year due to the restructuring of the new energy vehicle business [15]. - Total revenue for the year was RMB 12,595,607,000, a decrease of 12.6% compared to the previous year, mainly due to reduced income from the automotive parts and commercial vehicle segments [40]. - Revenue for the year ended December 31, 2022, was RMB 12,595,607,000, representing a decrease of 12.6% compared to RMB 14,408,507,000 in 2021 [104]. - Sales of specialized vehicles, including new energy vehicles, amounted to RMB 3,619,542,000, down 19.4% from RMB 4,489,599,000 in the previous year [142]. - Revenue from the sale of automotive parts and accessories decreased to RMB 5,122,212,000, a decline of 11.7% from RMB 5,802,732,000 in 2021 [142]. Profitability and Losses - The company recorded a total net loss of RMB 2,546,000 for the year ended December 31, 2022, primarily due to the operating losses from joint ventures, including Wuling New Energy and Liuzhou Zhenqu [29]. - The net profit for the year was RMB 40,038,000, a significant increase of 187% compared to a loss of RMB 45,860,000 in 2021 [104]. - The net profit attributable to the company's owners for 2022 was RMB 22,611,000, a decrease from RMB 24,148,000 in 2021, reflecting a decline of approximately 6.4% [108]. - The group reported a net loss before tax of RMB 826,000, compared to a profit of RMB 2,713,000 in the previous year [150]. Operating Performance - The division recorded an operating profit of RMB 30,155,000 for the year, compared to an operating loss of RMB 73,696,000 in 2021, indicating a turnaround in performance [5]. - The commercial vehicle division recorded an operating profit of RMB 21,950,000, compared to RMB 18,156,000 from the previous year, despite a decrease in business volume and impairment losses on receivables [17]. - The joint venture for automotive interior systems achieved total revenue of RMB 367,590,000, with operating profit increasing significantly to RMB 19,130,000 from RMB 3,388,000 last year [49]. Research and Development - Research and development expenses amounted to RMB 319,465,000, a decrease of 21.8% compared to last year, despite ongoing new product launches and technology upgrades [34]. - The company is focusing on research and development in electric vehicles, including shared and autonomous driving technologies, with positive initial responses from pilot projects [19]. - The company aims to strengthen its position in the new energy vehicle sector and has initiated a capital injection of RMB 305,600,000 into Wuling New Energy, with additional asset contributions totaling RMB 84,866,478.39 [21]. Market and Sales - The sales volume of different vehicle models was approximately 67,600 units, a substantial decrease of 31% from the previous year's reported sales of about 98,000 units [16]. - External customer sales in the first half of the year decreased by approximately 25.7% to RMB 1,084,553,000, accounting for about 37% of the division's total revenue [3]. - The company has sold over 20,000 electric logistics vehicles since its listing in 2020, achieving a historical high in sales [27]. Financial Position - The company reported a net current liability of RMB 932,681,000, a decrease from RMB 1,414,495,000 as of December 31, 2021, mainly due to raising long-term bank loans during the year [39]. - Current liabilities amounted to RMB 11,771,427,000, primarily consisting of accounts payable and other payables of RMB 6,659,530,000 [55]. - The total equity attributable to shareholders as of December 31, 2022, was RMB 1,913,112,000, with a net asset value per share of approximately RMB 58.0 cents [57]. Challenges and External Factors - The commercial vehicle division's business volume was adversely affected by COVID-19 measures, chip and battery supply shortages, and periodic closures of scenic areas [15]. - The company faced challenges due to a tightening chip supply and sporadic COVID-19 outbreaks in certain regions of China, impacting business performance [40]. Corporate Governance - The company has fully complied with the corporate governance code as per the listing rules, ensuring no concentration of power in a single individual [78]. - The Audit Committee has reviewed the financial statements for the year ended December 31, 2022, and confirmed compliance with applicable accounting standards and listing rules [82]. Dividends and Shareholder Returns - The proposed final dividend for the year ended December 31, 2022, is HKD 0.3 per share, totaling approximately HKD 9,894,000 (equivalent to about RMB 8,451,000) [74]. - The company declared a final dividend of 0.3 HKD per share for the year, consistent with the previous year's dividend, indicating stable shareholder returns [181].
五菱汽车(00305) - 2022 - 年度业绩