Financial Performance - Revenue for the year ended December 31, 2022, was RMB 6,486,277,000, an increase of 51.3% from RMB 4,286,222,000 in 2021[2] - Gross profit for the same period was RMB 1,793,386,000, with a gross margin of 27.6%, consistent with the previous year's margin[2] - Net profit for 2022 was RMB 666,182,000, representing a 74.5% increase from RMB 381,838,000 in 2021, resulting in a net profit margin of 10.3%[2] - Adjusted EBITDA for 2022 was RMB 1,030,069,000, up from RMB 653,554,000 in 2021[2] - Basic earnings per share increased to RMB 0.64 in 2022 from RMB 0.43 in 2021[5] - The company reported a pre-tax profit of RMB 760,917,000 for 2022, compared to RMB 449,143,000 in 2021, reflecting a growth of 69.2%[33] - The net profit margin improved to approximately 10.3% for the year ended December 31, 2022, compared to approximately 8.9% for the year ended December 31, 2021, an increase of approximately 1.4 percentage points[106] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 5,834,547,000, an increase from RMB 4,310,174,000 in 2021[8] - The company's total equity increased to RMB 2,822,646,000 in 2022 from RMB 2,007,809,000 in 2021[10] - The company reported a net current asset of RMB 955,141,000 as of December 31, 2022, compared to RMB 619,837,000 in 2021[8] - Total borrowings increased from approximately RMB 370,002 thousand as of December 31, 2021, to approximately RMB 444,233 thousand as of December 31, 2022, reflecting a rise of approximately 20%[116] - The company's debt-to-equity ratio decreased from approximately 18.4% as of December 31, 2021, to about 15.7% as of December 31, 2022, primarily due to increased profits leading to higher reserves[117] Revenue Breakdown - Revenue from traditional pressure equipment reached RMB 2,662,892,000, up from RMB 2,221,045,000 in the previous year, indicating a growth of about 19.9%[19] - Revenue from the North American market increased significantly to RMB 515,899,000 in 2022 from RMB 117,248,000 in 2021, marking a growth of about 340.5%[24] - Modular pressure equipment sales surged to RMB 3,648,656,000 in 2022, compared to RMB 1,925,440,000 in 2021, showing an increase of approximately 89.5%[19] - Revenue from the European market rose to RMB 455,127,000 in 2022, up from RMB 215,157,000 in 2021, representing a growth of about 111.8%[24] Costs and Expenses - Employee costs, including salaries and benefits, increased to RMB 1,085,516,000 in 2022 from RMB 788,581,000 in 2021, reflecting a growth of 37.7%[28] - Research and development costs rose to RMB 316,084,000 in 2022, up from RMB 226,628,000 in 2021, an increase of 39.5%[30] - Sales and marketing expenses increased from approximately RMB 106,559 thousand for the year ended December 31, 2021, to approximately RMB 184,460 thousand for the year ended December 31, 2022, representing a growth of approximately 73%[100] - General and administrative expenses rose from approximately RMB 381,500 thousand for the year ended December 31, 2021, to approximately RMB 510,448 thousand for the year ended December 31, 2022, an increase of approximately 33.9%[101] Contracts and Orders - The total value of contracts remaining to be fulfilled as of December 31, 2022, was RMB 8,621,816,000, compared to RMB 5,720,026,000 in 2021[2] - The remaining performance obligations under existing customer contracts amounted to RMB 8,621,816,000 as of December 31, 2022, compared to RMB 5,720,026,000 at the end of 2021, reflecting an increase of approximately 50.5%[22] - New orders in the pharmaceutical and biopharmaceutical sectors accounted for over 29.4% of total new orders, indicating strong demand in these areas[71] - The total new order amount for electronic chemicals reached RMB 1,980.6 million, representing 21.2% of the total new orders[72] Market and Growth Outlook - The company expects significant growth in overseas business and overall market demand in 2023, driven by post-pandemic recovery[69] - The company continues to see stable growth in the pharmaceutical sector, with demand for new projects in antibodies, vaccines, and recombinant proteins[74] - The electronic chemicals and daily chemicals sectors have shown notable increases in new orders, particularly due to rising demand for photovoltaic materials since the Russia-Ukraine conflict[74] - The company is committed to enhancing its competitive position in traditional industries and advancing research in cutting-edge technologies such as renewable energy and artificial intelligence[75] Corporate Governance and Compliance - The company has complied with the corporate governance code and has not deviated from its provisions during the reporting period[123] - The audit committee consists of one non-executive director and two independent non-executive directors, with the chair being Ms. Chen Yuanxiu[125] - The company has appointed KPMG as its auditor for the reporting period and will propose the reappointment at the upcoming annual general meeting[126] Subsidiaries and Acquisitions - The company completed the acquisition of Morimatsu Houston Corporation in February 2022, which was accounted for as a business combination under common control[2] - The company established a new subsidiary, Shanghai Sensong Biotechnology Co., Ltd., with a registered capital of RMB 50 million, holding a 72.25% stake[120] - A new subsidiary, Shanghai Senzhong Biotechnology Co., Ltd., was established with a registered capital of RMB 41.3 million, with Sensong Biotechnology holding a 59.32% stake[120] Dividends - No dividends were declared or approved for the years ended December 31, 2022, and 2021[64] - The company did not recommend any final dividend for the reporting period[122]
森松国际(02155) - 2022 - 年度业绩