Yongmaotai(605208)2023-04-07 16:00Financial Performance - In 2022, the company achieved operating revenue of CNY 3,533,960,816.20, representing a year-on-year increase of 7.43%[18]. - The net profit attributable to shareholders decreased to CNY 94,194,192.69, down 58.56% compared to 2021[18]. - The net profit after deducting non-recurring gains and losses was CNY 93,580,892.81, a decline of 34.21% year-on-year[18]. - The basic earnings per share dropped to CNY 0.37, a decrease of 61.46% from the previous year[19]. - The weighted average return on equity fell to 4.62%, down 8.25 percentage points from 2021[19]. - The company achieved operating revenue of CNY 3.534 billion in 2022, a 7.43% increase from CNY 3.290 billion in the previous year[78]. - The aluminum alloy business generated sales of CNY 2.521 billion, a 1.05% increase from CNY 2.495 billion year-on-year[78]. - The automotive parts business saw sales rise to CNY 936 million, a significant 25.40% increase from CNY 747 million in the previous year[78]. - Operating costs increased to CNY 3.196 billion, up 11.74% from CNY 2.860 billion, primarily due to rising raw material prices[80]. Dividend and Capital Structure - The company plans to distribute a cash dividend of 0.39 yuan (including tax) for every 10 shares, totaling 9,898,200 yuan based on the total share capital of 253,800,000 shares as of December 31, 2022[3]. - The company will also increase its capital reserve by 3 shares for every 10 shares, resulting in a total increase of 76,140,000 shares, bringing the total share capital to 329,940,000 shares[3]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The board of directors guarantees the authenticity, accuracy, and completeness of the annual report, with no false records or major omissions[5]. - The company has no violations in decision-making procedures for providing guarantees[4]. - The company assures that there are no non-operational fund occupations by controlling shareholders or related parties[4]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements, which may differ significantly from actual results due to various factors[4]. - The company has outlined potential risks and corresponding countermeasures in its management discussion and analysis section[4]. - The company is focusing on low-carbon and green development through comprehensive utilization of waste aluminum, aluminum chips, and aluminum ash resources[29]. - The company is conducting feasibility studies for projects related to aluminum ash resource utilization, which will further enhance its competitive edge in the market[30]. - The company has implemented strict measures for its hedging operations, limiting the monthly opening of raw material futures to 50% of the monthly usage and requiring full liquidation if losses exceed 5% of the previous year's net profit[34]. Production and Capacity - The company has an operating capacity of 237,000 tons as of the end of 2022, including 100,000 tons of aluminum alloy ingots and 137,000 tons of aluminum alloy liquid[43]. - The company produced over 24 million automotive parts in 2022, focusing on components for traditional fuel vehicles and new energy vehicles[45]. - The company is constructing a 160,000-ton high-performance aluminum alloy project in Anhui, which has not yet been completed[45]. - The company has signed a project agreement with the Yanshan government for a 200,000-ton silicon-aluminum alloy and deep processing project, which has not yet started construction[45]. Research and Development - The company obtained 26 patent authorizations in 2022, including 6 invention patents, enhancing its technical research and development capabilities in aluminum alloy materials and automotive parts[31]. - The company has a strong R&D capability, collaborating with universities and establishing a dedicated automotive lightweight technology research institute to promote continuous innovation[68]. - The company is focusing on the development of new aluminum alloy materials for lightweight, high-strength, and high-toughness applications in the new energy vehicle sector[143]. Market and Industry Trends - The automotive aluminum alloy and parts industry is closely tied to macroeconomic conditions, with demand for aluminum alloys increasing during economic upturns and decreasing during downturns[36]. - The automotive lightweight trend is driving increased use of aluminum alloys, with significant applications in both fuel and electric vehicles, leading to higher aluminum usage per vehicle[39]. - The overall automotive market in China has shown positive growth trends, with passenger vehicle sales contributing significantly to the annual growth[111]. - The demand for aluminum alloy materials and parts is expected to continue growing due to the trend of automotive lightweighting, with projected aluminum usage per vehicle in China reaching 250 kg by 2025 and 350 kg by 2030[124]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, ensuring equal rights for all shareholders and proper procedures for decision-making[171]. - The board of directors convened 6 meetings, with independent directors providing independent opinions on significant matters affecting minority investors[172]. - The supervisory board held 6 meetings, ensuring compliance and legality in the actions of the company's management[173]. - The company has a performance evaluation system for senior management, linking compensation to performance and ensuring stability in the management team[174]. Environmental and Social Responsibility - The company emphasizes environmental protection and social responsibility, investing in environmental improvements and community support initiatives[177]. - The company is focusing on green and low-carbon development, establishing a closed-loop industry chain for waste aluminum recycling and production of automotive casting recycled aluminum alloys[133].