HXPP(002228)2023-04-20 16:00Financial Performance - The company's operating revenue for 2022 was approximately ¥15.38 billion, a decrease of 12.39% compared to ¥17.55 billion in 2021[22]. - The net profit attributable to shareholders for 2022 was approximately ¥132.20 million, down 39.46% from ¥218.35 million in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥102.26 million, a decrease of 43.23% from ¥180.13 million in 2021[22]. - The basic earnings per share for 2022 was CNY 0.11, a decrease of 38.89% compared to CNY 0.18 in 2021[23]. - The total assets at the end of 2022 were CNY 8,831,554,644.47, down 7.74% from CNY 9,572,154,203.43 at the end of 2021[23]. - The net profit attributable to shareholders in Q4 2022 was a loss of CNY 13,381,013.55, contrasting with profits in the first three quarters[27]. - The operating cash flow for 2022 was CNY 161,064,711.02, compared to CNY 209,271,650.92 in 2021, indicating a decline[28]. - The company reported a total of 9,860 packaging enterprises in China, an increase of 1,029 from the previous year[37]. - The company faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three years[23]. Cash Flow and Dividends - Cash flow from operating activities increased by 118.49% to approximately ¥655.63 million, compared to ¥300.07 million in 2021[22]. - The company plans to distribute a cash dividend of ¥1.20 per 10 shares (including tax) to all shareholders[4]. - The company has implemented a cash dividend policy, distributing ¥1.50 per 10 shares, which accounted for 82.13% of the net profit attributable to shareholders in 2021[59]. - The company distributed a cash dividend of 1.50 RMB per 10 shares, totaling 179,329,736.25 RMB, based on a total share capital of 1,195,531,575 shares after accounting for repurchased shares[169]. - The total cash dividend amount, including other methods, was 170,489,013.00 RMB, which accounted for 100% of the total profit distribution[171]. Market and Industry Trends - The total revenue for the packaging industry in China in 2022 was CNY 12,293.34 billion, showing a slight decrease of 0.70% year-on-year[37]. - The packaging industry is expected to undergo digital and intelligent transformation, enhancing production efficiency and profitability[38]. - The company is actively pursuing technological upgrades and new product development to meet market demands for personalized and traceable packaging solutions[55]. - The company will optimize its product structure to meet the increasing demand for consumer packaging, targeting categories like fast-moving consumer goods and premium gift boxes[109]. Risks and Challenges - The company faces risks including macroeconomic fluctuations and raw material price volatility, which may impact future performance[4]. - The company faces macroeconomic risks that could impact demand in the packaging industry due to fluctuations in consumer spending[113]. - The company is exposed to market competition risks as regional players in the corrugated packaging industry continue to emerge and expand[114]. - Raw material price volatility poses a significant risk, with raw materials accounting for over 65% of the company's operating costs[115]. - The company acknowledges management risks associated with rapid growth and the complexity of its organizational structure[116]. Governance and Management - The company has improved its governance structure and internal controls to enhance operational efficiency and risk management[58]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance[122]. - The company has established an independent financial department with its own accounting system and bank accounts, ensuring financial autonomy[134]. - The company’s governance structure complies with relevant laws and regulations, ensuring transparency and accountability[127]. - The company has implemented various internal control systems to ensure compliance and asset security, including the establishment of an audit committee and external audits[178]. Environmental Responsibility - The company has established comprehensive environmental protection measures, adhering to multiple national laws and regulations[185]. - The company has committed to regular monitoring of wastewater and air emissions through qualified third-party agencies[190]. - The company has made significant investments in pollution control measures, including upgrades to waste gas treatment systems[195]. - The company has established a dedicated team to oversee the operation of environmental protection facilities[190]. - The company emphasizes environmental protection and energy conservation as part of its sustainable development strategy[199]. Employee Management and Development - The total number of employees at the end of the reporting period was 11,420, with 6,736 in production, 1,710 in sales, and 1,750 in technical roles[164]. - The company has a training program focusing on employee onboarding, skills training, and management capability enhancement[167]. - The company has established a fair and effective employee performance evaluation system to determine salaries based on job positions[166]. - The company has extended the first employee stock ownership plan until December 31, 2023, allowing for potential further meetings to discuss stock sales if necessary[177]. - The employee stock ownership plan includes key executives, with specific holdings such as 1,466,669 shares by the Vice President, representing 0.12% of total equity[177].