Financial Performance - Revenue for the fiscal year 2022 reached approximately $115.5 million, an increase of 6.3% compared to $108.7 million in fiscal year 2021[2] - Gross profit for fiscal year 2022 was $26.0 million, representing a 14.0% increase from $22.8 million in fiscal year 2021[2] - The net profit attributable to shareholders was $7.5 million, a significant increase of 70.8% from $4.4 million in the previous year[2] - The gross profit margin improved to 22.5% in fiscal year 2022, up from 21.0% in fiscal year 2021, reflecting better pricing strategies[2] - The net profit margin increased to 6.5% in fiscal year 2022, compared to 4.0% in fiscal year 2021, indicating improved profitability[2] - Excluding listing expenses, the profit attributable to shareholders for fiscal year 2022 was approximately $8.7 million, representing an increase of about 36.9% from the previous year[6] - Total revenue for the fiscal year 2022 was $115,521 thousand, an increase of 6.8% compared to $108,694 thousand in 2021[21] - Gross profit for the fiscal year 2022 was $26,028 thousand, up from $22,830 thousand in 2021, reflecting a growth of 14.4%[21] - Net profit attributable to the company's owners for the fiscal year 2022 was $7,496 thousand, compared to $4,388 thousand in 2021, representing a significant increase of 70.5%[22] - The basic earnings per share for 2022 were $9.05, up from $5.00 in 2021, reflecting a significant increase in profitability[49] Sales and Revenue Breakdown - The average selling price of graphite electrodes increased by 21.6% from approximately $3,928 per ton in fiscal year 2021 to approximately $4,777 per ton in fiscal year 2022[3] - Total sales volume decreased from approximately 27,669 tons in fiscal year 2021 to approximately 24,184 tons in fiscal year 2022, primarily due to reduced sales to the Americas[3] - Revenue from the Americas in 2022 was $33.484 million, a decrease of 2.5% from $34.358 million in 2021[35] - Revenue from EMEA (Europe, Middle East, and Africa) increased significantly to $51.664 million in 2022, up 23.8% from $41.734 million in 2021[35] - Revenue from China was $27.871 million in 2022, slightly down from $28.602 million in 2021, reflecting a decrease of 2.5%[35] - Revenue from the Asia-Pacific region (excluding China) dropped to $2.502 million in 2022, down 37.5% from $4.000 million in 2021[35] - Total revenue from external customers in 2022 reached $115.521 million, an increase of 6.8% compared to $108.694 million in 2021[35] - Sales of graphite electrodes amounted to $115,521,000 in 2022, an increase from $108,694,000 in 2021, reflecting a growth of approximately 7.5%[38] Cost and Expenses - The total financial costs for the group were approximately $2.6 million in fiscal year 2022, an increase of about $0.6 million compared to approximately $2.0 million in fiscal year 2021[11] - The average selling cost of graphite electrodes increased from $3,103 per ton in fiscal year 2021 to $3,701 per ton in fiscal year 2022[9] - The cost of goods sold for the year was $89,493,000, up from $85,864,000 in the previous year, representing an increase of approximately 1.9%[42] - Financial costs for 2022 totaled $2,626 million, an increase of 32.2% from $1,988 million in 2021[44] - Employee costs for the fiscal year 2022 amounted to approximately USD 9.6 million, a decrease from USD 10.3 million in 2021[57] Assets and Liabilities - As of December 31, 2022, the group had cash and cash equivalents of approximately $11.7 million, primarily denominated in USD, EUR, RMB, and HKD[14] - The total value of non-current assets decreased from $116,034 thousand in 2021 to $107,037 thousand in 2022[23] - The company's total equity as of December 31, 2022, was $132,917 thousand, down from $134,989 thousand in 2021[24] - The group maintained a balance between equity and debt, with total equity and liabilities as of December 31, 2022, being approximately $132.9 million and $72.9 million, respectively[15] - The group's debt-to-asset ratio decreased from approximately 25% on December 31, 2021, to about 23% on December 31, 2022, primarily due to a reduction in total debt by approximately 10.1%[16] Corporate Governance and Compliance - The company has adhered to corporate governance standards since its listing on January 17, 2023, with the exception of the separation of roles between the Chairman and CEO[59] - The Audit Committee consists of four independent non-executive directors who reviewed the Group's accounting principles and financial reporting for the fiscal year 2022[61] - The Group's auditor, Ernst & Young, confirmed that the financial statements for the year ended December 31, 2022, are consistent with the preliminary announcement[62] - The annual performance announcement and annual report for the fiscal year 2022 have been published on the Hong Kong Stock Exchange website and the company's website[64] - The annual report contains all information required by the Listing Rules Appendix 16, which will be sent to shareholders at the appropriate time[64] Future Outlook and Strategic Initiatives - The company expects that the U.S.-China trade conflict will not have a significant adverse impact on its business and outlook[5] - The company has utilized its Italian manufacturing capacity to produce products for U.S. customers, thereby avoiding additional tariffs[5] - The group is exploring the development of graphite negative materials to meet the growing demand driven by the rapid growth of the lithium-ion battery industry[7] - The company successfully listed its shares in January 2023, marking a significant milestone in its history and providing diversified funding options for business expansion[6] Miscellaneous - The company did not engage in any significant acquisitions or disposals of subsidiaries during the fiscal year 2022[20] - As of December 31, 2022, the company had no significant contingent liabilities[19] - The company did not declare any dividends for the year, compared to $14 million in dividends paid in the previous year[47] - No significant events affecting the group occurred after the fiscal year 2022, aside from the successful listing on the Hong Kong Stock Exchange on January 17, 2023[54] - The net proceeds from the global offering amount to approximately HKD 186.7 million after deducting underwriting fees and related expenses[55] - 34.8% of the net proceeds (HKD 65.0 million) is allocated for the acquisition of Taigu assets, with the remaining HKD 65.0 million yet to be utilized[56] - 55.2% of the net proceeds (HKD 103.0 million) is designated for upgrading production systems in the Group's facilities, with HKD 26.9 million already used and HKD 76.1 million remaining[56]