JSCQ(688182)2023-04-25 16:00Financial Performance - The proposed cash dividend for 2022 is CNY 0.70 per share, totaling CNY 28,000,000, which accounts for 35.62% of the net profit attributable to shareholders[5]. - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2022 was CNY 345.18 million, an increase of 3.48% compared to CNY 333.58 million in 2021[21]. - The net profit attributable to shareholders decreased by 10.16% to CNY 78.61 million from CNY 87.50 million in the previous year[21]. - The net cash flow from operating activities increased by 30.97% to CNY 93.56 million, driven by higher cash inflows and reduced tax payments[23]. - The basic earnings per share (EPS) fell by 28.57% to CNY 0.20 from CNY 0.28 in 2021[22]. - The net profit after deducting non-recurring gains and losses decreased by 35.71% to CNY 20.66 million compared to CNY 32.13 million in 2021[23]. - The total assets at the end of 2022 were CNY 2.32 billion, reflecting a growth of 5.26% from CNY 2.20 billion in 2021[21]. - The weighted average return on equity (ROE) decreased to 3.80%, down from 8.61% in the previous year, a decline of 4.81 percentage points[22]. - Operating costs increased to CNY 246.75 million, a rise of 16.80% compared to the previous year, leading to a decrease in gross margin to 28.51%, down 8.14 percentage points[103]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 9.76%, up from 9.38% in the previous year[22]. - The company has invested in R&D for advanced ceramic materials and components, holding over 98 patents, including 20 invention patents in China[37]. - The company’s R&D model is primarily self-driven, with dedicated teams for various product categories, ensuring alignment with industry trends and market demands[43]. - The company has completed 10 major R&D projects during the reporting period, achieving good progress in the design and development of AF large dielectric and multiplexer, as well as high-power aerospace ceramic filters[79]. - Total R&D expenditure increased by 7.69% from the previous year, amounting to ¥33,701,491.65[76]. - The company has a structured R&D process that includes multiple review stages to ensure project risks are controlled and product quality meets customer requirements[44]. Market Position and Strategy - The company focuses on the research, production, and sales of advanced electronic ceramic components, including filters, resonators, and antennas, with applications in various fields such as mobile communication and aerospace[33]. - The company has established strong partnerships with leading communication equipment manufacturers, becoming a core supplier in the industry[33]. - The company is actively expanding its product lines in semiconductor and new energy sectors, achieving significant progress in customer sampling[35]. - The company aims to consolidate its position in the ceramic RF components market for mobile communication base stations, responding to growing market demand[135]. - The company plans to expand its market presence and develop new products and technologies, although specific details are not provided in the summary[6]. Corporate Governance - The company does not have any special arrangements for corporate governance[8]. - The company has established a scientific and standardized corporate governance structure, ensuring efficient management and compliance with legal regulations[139]. - The company has effectively executed its internal control systems and governance rules, ensuring orderly business operations[139]. - The company has not encountered any significant governance deficiencies during the reporting period[139]. - The company has a structured approach to remuneration that reflects the responsibilities and performance of its management team[153]. Risks and Challenges - The company faces various risks as outlined in the report, which investors should pay attention to[4]. - The company is exposed to risks from fluctuations in raw material prices, which could impact production costs and profit margins[91]. - The company faces uncertainties related to R&D outcomes and market application prospects, which may affect short-term economic returns[95]. - The company reported a significant reduction in production costs due to increased material costs and the transition of construction projects to fixed assets[23]. - The company faces risks related to the potential leakage of core technologies and loss of key personnel, which could affect R&D capabilities[89]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system and passed the ISO 14001:2015 certification[191]. - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by K% by 2025[146]. - The company invested CNY 421,900 in environmental protection during the reporting period[184]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[186]. - The company donated a total of 1 million CNY to Zhangjiagang Charity Association and Zhangjiagang Red Cross during the reporting period, specifically supporting local charitable work[199]. Customer and Supplier Relations - Revenue from the top five customers accounted for 89.93% of total revenue, indicating a high customer concentration risk[90]. - The first customer, Huawei, contributed 72.79% of the total revenue, an increase of 4.29 percentage points compared to the previous period[113]. - Total procurement from the top five suppliers was 72.43 million RMB, representing 38.73% of the annual procurement[114]. - The company's accounts receivable from the top five customers accounted for 86.36% of total accounts receivable, posing a risk to financial stability[92]. Awards and Recognition - The company has been recognized with multiple awards, including the 2021 Jiangsu Provincial Science and Technology Award and the 2022 National Intellectual Property Advantage Enterprise title[37]. - The company is recognized as one of the first "specialized, refined, distinctive, and innovative" small giant enterprises in China, holding 98 patents and participating in the formulation of six industry standards[51]. - The company has received multiple awards for its innovations, including a gold medal for "high-temperature antenna research and industrialization" in 2018 and a silver medal for "5G communication dielectric filter" in 2019[51].