Financial Performance - The company's revenue for the fiscal year 2022 was RMB 916.8 million, an increase of 36.9% compared to RMB 669.7 million in the fiscal year 2021[2]. - Gross profit for the fiscal year 2022 was RMB 455.3 million, up 36.1% from RMB 334.6 million in the fiscal year 2021, with gross margins of 49.7% and 50.0% respectively[2]. - Profit attributable to owners of the company was RMB 223.8 million, a 38.1% increase from RMB 162.0 million in the fiscal year 2021, with net profit margins of 25.8% and 25.3% respectively[2]. - Operating profit for the fiscal year 2022 was RMB 285.4 million, an increase from RMB 202.5 million in the fiscal year 2021[4]. - The company reported a total comprehensive income of RMB 236.5 million for the fiscal year 2022, compared to RMB 169.1 million in the fiscal year 2021[6]. - The net profit for the fiscal year 2022 was RMB 223.79 million, compared to RMB 162.03 million in 2021, reflecting a growth of 38%[25]. - The profit for the fiscal year 2022 was RMB 236.5 million, a growth of 39.9% compared to RMB 169.1 million in the fiscal year 2021[58]. Dividend Policy - The company decided not to declare any final dividend for the fiscal year 2022, compared to a dividend of HKD 0.035 per share in the fiscal year 2021[2]. - The board has decided not to declare any final dividend for the fiscal year 2022, compared to a final dividend of HKD 0.035 per share for the fiscal year 2021[90]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 3,156.9 million, compared to RMB 2,604.4 million as of December 31, 2021[7]. - Current assets increased to RMB 2,332.9 million in 2022 from RMB 1,965.6 million in 2021, with cash and cash equivalents at RMB 1,882.7 million[7]. - The company's total equity attributable to owners was RMB 2,357.4 million, up from RMB 2,169.5 million in the previous year[8]. - Non-current liabilities decreased to RMB 432.4 million in 2022 from RMB 6.7 million in 2021[9]. - Trade receivables increased to RMB 319.1 million in 2022 from RMB 245.2 million in 2021, with an allowance for doubtful accounts of RMB 10.99 million[26]. - Trade payables decreased to RMB 23.6 million in 2022 from RMB 37.6 million in 2021, with the majority (RMB 22.5 million) aged 0 to 90 days[31]. - The group's debt increased to RMB 203.3 million as of December 31, 2022, from RMB 157.9 million in 2021, due to new bank loans and other borrowings[71]. - The group's debt-to-equity ratio rose to 24.1% as of December 31, 2022, compared to 11.2% in 2021, mainly due to the issuance of convertible bonds[72]. - The group's net assets increased to RMB 2,543.3 million as of December 31, 2022, from RMB 2,342.7 million in 2021, with net asset value per share rising to RMB 1.98 from RMB 1.82[73]. Revenue Breakdown - Revenue from external customers in China reached RMB 896.48 million, representing a 40% increase from RMB 641.66 million in 2021[19]. - The revenue from pearl pigment products was RMB 850.70 million, up 27% from RMB 667.71 million in the previous year[17]. - The company’s natural mica-based pearlescent pigments generated revenue of RMB 412.954 million, accounting for 45.0% of total revenue in 2022[43]. - The company’s synthetic mica-based pearlescent pigments generated revenue of RMB 378.814 million, representing 41.3% of total revenue in 2022[43]. - The sales revenue of pearlescent pigment products increased from RMB 667.7 million in the fiscal year 2021 to RMB 850.7 million in the fiscal year 2022, representing an increase of RMB 183.0 million or 27.4%[48]. - The sales of mica functional fillers surged from RMB 2.0 million in the fiscal year 2021 to RMB 64.4 million in the fiscal year 2022, an increase of RMB 62.4 million or 3,085.7%[49]. - The sales of new energy materials amounted to RMB 1.7 million in the fiscal year 2022, compared to none in the fiscal year 2021[50]. Research and Development - The company's R&D expenses for the fiscal year 2022 amounted to RMB 71.92 million, an increase of 48% from RMB 48.46 million in 2021[22]. - R&D efforts will focus on automotive-grade, cosmetic-grade, and functional pearlescent pigments, with collaboration with Zhejiang University to strengthen innovation capabilities[68]. - The company is actively developing new product lines and applications, including high-temperature resistant materials for new energy batteries[39]. Capital Expenditure and Investments - The company issued RMB 300 million in offshore convertible bonds to fund investment opportunities in the pearlescent pigment industry[34]. - The allocation of the net proceeds includes HKD 539.5 million (55.6%) for the construction of the second-phase production plant, with HKD 197.8 million utilized as of December 31, 2022[60]. - The construction of the Lvzai synthetic mica plant is allocated HKD 330.8 million (34.1%), with no funds utilized in the fiscal year 2022 due to relocation issues[61]. - Investment in R&D facilities and testing equipment is budgeted at HKD 68.9 million (7.1%), with HKD 21.0 million utilized by December 31, 2022[60]. Corporate Governance - The company has adopted the corporate governance code as its own, ensuring high standards of governance to protect shareholder interests and enhance corporate value[84]. - The board believes that the current arrangement of roles between the chairman and CEO, held by Mr. Su, ensures consistent leadership and effective strategic planning[85]. - The company has established an audit committee composed of three independent non-executive directors to oversee financial reporting and risk management[87]. Market Outlook - The company anticipates the global automotive pearlescent pigment market to reach RMB 4.5 billion by the end of 2025, with a CAGR of 47.1%[65]. - The Chinese cosmetics market reached RMB 71.595 billion in 2022, with a year-on-year growth of 9.05%, and is projected to grow at an annual rate of 7.5% to RMB 111.3 billion by 2028[37]. Shareholder Information - The annual general meeting will be held on June 27, 2023, with a suspension of share transfer registration from June 21 to June 27, 2023[91]. - The company’s financial statements for the fiscal year 2022 have been reviewed and are consistent with the amounts in the audited consolidated financial statements[92]. - The annual report for the fiscal year 2022 will be sent to shareholders and published on the stock exchange and the company's website[93].
环球新材国际(06616) - 2022 - 年度业绩