Jereh Group(002353)2023-04-20 16:00Share Capital and Dividends - The company reported a total share capital of 1,026,952,941 shares as of December 31, 2022, excluding 3,097,108 repurchased shares, resulting in a base of 1,023,855,833 shares for dividend distribution[2]. - A cash dividend of 3.3 RMB per 10 shares (including tax) will be distributed to all shareholders, with no bonus shares issued[2]. - The company distributed a cash dividend of 1.8 yuan per 10 shares, totaling 171,856,239.12 yuan (including tax) based on a share base of 954,756,884 shares after excluding repurchased shares[122]. - The cash dividend policy was approved by the shareholders' meeting on May 6, 2022, and the dividend distribution was executed on May 17, 2022[122]. - The company reported a total cash dividend of 337,872,424.89 yuan (including tax) for the year, which accounted for 100% of the distributable profit of 1,439,000,490.93 yuan[124]. Financial Performance - The company's operating revenue for 2022 was ¥11,409,012,145.44, representing a 30.00% increase compared to ¥8,776,172,248.32 in 2021[13]. - The net profit attributable to shareholders for 2022 was ¥2,244,949,636.01, a 41.54% increase from ¥1,586,034,420.17 in 2021[13]. - The net profit after deducting non-recurring gains and losses was ¥2,125,853,888.23, up 43.78% from ¥1,478,501,302.62 in 2021[13]. - The net cash flow from operating activities for 2022 was ¥1,007,867,907.21, a 24.66% increase from ¥808,494,687.92 in 2021[13]. - The total assets at the end of 2022 were ¥29,225,829,417.05, a 49.66% increase from ¥19,528,552,642.17 at the end of 2021[13]. - The company's basic earnings per share for 2022 was ¥2.27, a 36.75% increase from ¥1.66 in 2021[13]. Business Operations and Strategy - The company has outlined potential risks related to overseas income and legal policies in foreign countries[2]. - The company plans to expand into the lithium battery anode materials sector, aligning with the global shift towards renewable energy[19]. - The company is focusing on high-end equipment manufacturing and oil and gas engineering services, with a commitment to developing unconventional oil and gas resources[20]. - The company secured a total of CNY 12.727 billion in new orders during 2022, with a year-end backlog of CNY 8.498 billion[25]. - The company is actively pursuing new product development and technological innovation to enhance its service offerings in the energy sector[102]. Research and Development - Research and development expenses for 2022 were ¥366,901,941.91, reflecting a year-on-year increase of 15.98%[42]. - The company is currently developing new products aimed at enhancing operational efficiency and reducing costs, including a new type of turbine fracturing skid[43]. - The company established a new energy research institute in Changzhou, enhancing its R&D capabilities in the new energy sector[30]. - The number of R&D personnel increased to 1,263 in 2022, up by 1.28% from 1,247 in 2021[46]. - The company aims to improve operational efficiency by 10% through the implementation of new technologies in its production processes[106]. Risk Management - The company faces risks including fluctuations in oil and gas prices, intensified market competition, and the development of a low-carbon energy system[2]. - The company emphasizes the importance of recognizing investment risks associated with future plans and forecasts[2]. - The company acknowledges the risk of fluctuating oil and gas prices, which could impact capital expenditures in the industry[85]. - The company is enhancing its risk awareness and compliance in response to increasing legal and policy risks associated with international operations[89]. - The company’s risk control measures for derivative investments are deemed effective, addressing market, liquidity, credit, operational, and legal risks[61]. Environmental Responsibility - The company strictly adheres to multiple environmental protection laws and standards, including the "Environmental Protection Law of the People's Republic of China" and various pollution discharge standards[144]. - In 2022, the company generated 21.795 tons of hazardous waste, all of which were disposed of by qualified hazardous waste disposal companies[148]. - The company has implemented a chromium wastewater treatment system and a water reuse treatment system to manage water pollution effectively[148]. - The company has established a networked chromium acid waste gas purification and recovery system to mitigate air pollution[148]. - The company has committed to regular environmental monitoring through third-party agencies, ensuring compliance with pollution discharge permits[152]. Corporate Governance - The company has established clear management responsibilities across various departments to mitigate operational risks and enhance response speed[62]. - The company is committed to enhancing its corporate governance with the election of new board members and the establishment of a more diverse leadership team[100]. - The company has maintained effective internal control over financial reporting as of December 31, 2022, with no significant deficiencies identified[141]. - The company has a complete and independent financial accounting system, ensuring financial independence from its controlling shareholders[93]. - The company has a structured approach to guarantee management, ensuring compliance and risk mitigation[180]. Market Outlook and Expansion - The global oilfield equipment and services market is projected to reach $322.595 billion in 2023, representing a growth of 19.81% compared to 2022[78]. - The company provided a positive outlook for 2023, projecting a revenue growth of 12% to 15% based on market expansion strategies[106]. - The company is actively pursuing market expansion in Southeast Asia, targeting a 25% increase in market share within the next two years[106]. - The company aims to establish a strong foundation for its new energy sector in 2023, focusing on team building and achieving production targets[84]. - The company is committed to its overseas strategy, particularly in North America, by enhancing local R&D, production, and sales capabilities[83]. Employee Engagement and Development - The total number of employees at the end of the reporting period was 5,847, with 304 in the parent company and 5,543 in major subsidiaries[117]. - The company has established a performance-oriented compensation management system, linking fixed and variable compensation to performance results[118]. - In 2023, the company plans to enhance systematic training for management, focusing on high-potential managers and operational decision-making for executives[119]. - The company is committed to retaining and training new graduates through structured training programs for 2023[121]. - The company has implemented multiple employee stock ownership plans, with the "Fighter No. 5" plan involving 596 employees holding 680,900 shares, representing 0.07% of the total share capital[127].