CANNY(002367)2023-03-29 16:00Financial Performance - The total revenue for Canny Elevator in 2022 was ¥5,114,579,681.57, representing a decrease of 1.07% compared to ¥5,169,911,298.44 in 2021[29]. - The net profit attributable to shareholders of the listed company was ¥274,292,494.04, down 32.37% from ¥405,548,976.09 in the previous year[29]. - Basic earnings per share decreased by 32.33% to ¥0.3487, down from ¥0.5153 in 2021[29]. - The total profit for the year was CNY 302.73 million, with a net profit attributable to shareholders of CNY 274.29 million, impacted by employee stock ownership plan costs of CNY 9.40 million[75]. - The total operating revenue for 2022 was ¥5,114,579,681.57, a decrease of 1.07% compared to ¥5,169,911,298.44 in 2021[103]. - Elevator revenue accounted for ¥5,053,321,849.93, representing 98.80% of total revenue, with a year-on-year decrease of 1.15%[103]. - The company's overseas business revenue increased by 61.38% year-on-year in 2022, indicating significant market expansion and breakthroughs in international markets[88]. Cash Flow and Assets - The net cash flow from operating activities increased by 42.93% to ¥359,587,680.01, compared to ¥251,576,966.64 in 2021[29]. - As of December 31, 2022, the company's total assets were CNY 6.741 billion, total liabilities were CNY 3.511 billion, resulting in a debt-to-asset ratio of 52.08%[75]. - The company's cash and cash equivalents increased by 369.83% to 663,929,321.19[133]. - The total assets increased, with cash and cash equivalents making up 24.53% of total assets, up from 14.15% at the beginning of the year[137]. Market and Industry Trends - The company anticipates that the demand for elevators will be supported by urbanization and infrastructure investments, despite the current downturn in the real estate market[48]. - The government policies aimed at stabilizing the real estate market are expected to gradually improve the conversion of existing orders for elevator companies[46]. - The competitive landscape of the elevator industry is evolving towards comprehensive strength in brand, price, technology, quality, delivery capability, and project experience, leading to increased market share for leading brands[53]. - The demand for old elevator upgrades is accelerating, with a significant increase in elevators over 15 years old, supported by government subsidy policies, indicating a fast-growing market for upgrades[52]. Business Strategy and Development - The company is focusing on expanding its business scope to include software development and industrial internet data services[26]. - The company is exploring a shift from a manufacturing-centric model to a service-oriented approach, leveraging digital technologies to improve service quality and operational efficiency[51]. - The company has developed a comprehensive elevator service model, covering research, design, production, sales, installation, maintenance, and upgrade services, supported by 13 subsidiaries[54]. - The company is focusing on digitalization and smart technology to enhance service efficiency and reduce costs in the maintenance market, which is undergoing significant transformation[51]. Research and Development - Research and development expenses amounted to 207,321,645.77, representing a 2.70% increase year-over-year[132]. - The company is increasing R&D investment to enhance scenario-based solutions and improve user experience through digitalization, intelligence, and sustainability[181]. - The company has a total of 1,071 valid patents as of December 31, 2022, including 81 invention patents, demonstrating strong innovation capabilities[91]. Risk Management - The company recognizes risks related to macroeconomic conditions and intensified industry competition, and will adapt its strategies accordingly to maintain stability and growth[180]. - The fluctuation of raw material prices, particularly steel, poses a risk to the company's performance, necessitating effective supply chain management[182]. - Measures to address accounts receivable risks include strengthening monitoring and collection efforts, as well as enhancing customer credit evaluation systems[182]. Corporate Governance - The company has maintained compliance with corporate governance standards, holding 2 shareholder meetings and 8 board meetings during the reporting period[190]. - The company has a complete and independent R&D, supply, production, and sales system, operating autonomously without reliance on shareholders or related parties[196]. - The company's assets are complete and clearly owned, with no instances of fund or asset occupation by the controlling shareholder[196].