Jiangsu Zhongshe (002883)2023-04-21 16:00Financial Performance - The company's operating revenue for 2022 was ¥746,477,642.78, representing a 23.11% increase compared to ¥606,342,742.35 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥51,699,324.40, a decrease of 14.51% from ¥60,474,253.74 in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥45,797,391.97, down 19.27% from ¥56,725,908.20 in 2021[22]. - The basic earnings per share for 2022 was ¥0.33, down 15.38% from ¥0.39 in 2021[22]. - The total assets at the end of 2022 were ¥1,250,443,076.91, an increase of 3.42% from ¥1,209,111,586.05 at the end of 2021[22]. - The net assets attributable to shareholders at the end of 2022 were ¥640,932,123.73, a 6.56% increase from ¥601,495,818.80 at the end of 2021[22]. - The company's total revenue for 2022 reached ¥746,477,642.78, representing a year-on-year increase of 23.11% from ¥606,342,742.35 in 2021[71]. - Revenue from planning consulting and design accounted for 82.39% of total revenue, amounting to ¥615,008,298.91, which is a 27.68% increase compared to ¥481,680,319.95 in 2021[71]. - The gross profit margin for the service industry was 33.83%, showing a slight increase of 0.11% compared to the previous year[72]. Cash Flow and Investments - The company's cash flow from operating activities showed a net outflow of ¥1,858,568.31, a decline of 107.09% compared to a net inflow of ¥26,227,343.65 in 2021[22]. - Operating cash inflow totaled ¥683.24 million, an increase of 23.17% compared to ¥554.71 million in 2021[85]. - Operating cash outflow increased by 29.63% to ¥685.09 million from ¥528.49 million in 2021[85]. - Investment cash inflow decreased by 18.17% to ¥240.26 million from ¥293.59 million in 2021[85]. - Net cash flow from investment activities was negative at ¥17.25 million, a significant decline from a positive ¥1.60 million in 2021[85]. - Financing cash inflow increased by 24.08% to ¥100.98 million from ¥81.39 million in 2021[85]. - The net increase in cash and cash equivalents was negative at ¥16.27 million, a decline of 192.23% from a positive increase of ¥17.64 million in 2021[85]. Shareholder Information - The company plans to distribute a cash dividend of 0.8 RMB per 10 shares to all shareholders, based on a total of 156,227,282 shares[3]. - The cash dividend policy stipulates that at least 25% of the profit distribution should be in cash, with a minimum of 80% during the mature stage of the company[164]. - The company's cash dividend amount for the reporting period was 100% of the total profit distribution, with no other forms of cash distribution[165]. - The company's profit distribution policy emphasizes stable returns to investors while considering the financial status and sustainable development of the company[164]. Business Operations and Strategy - The company operates in the engineering consulting industry, which is crucial for the implementation of major infrastructure projects as part of the national development strategy[32]. - The company focuses on four major business areas: transportation, municipal, construction, and environmental engineering, providing comprehensive engineering design consulting and general contracting services[50]. - The core business of the company is the full-process design consulting, which constitutes the main part of its revenue, covering planning, design, consulting, research, surveying, testing, engineering supervision, and project management[51]. - The company aims to leverage macroeconomic trends and enhance core competitiveness to achieve high-quality growth in the transportation design consulting sector[43]. - The company is committed to providing integrated solutions for livable city construction and comprehensive transportation system development, covering the entire lifecycle of projects[50]. - The company is actively pursuing mergers and acquisitions to accelerate industry and regional layout, investing in new technologies and research and development[49]. Market Trends and Opportunities - The smart transportation market in China grew from 42 billion yuan in 2011 to 165.8 billion yuan in 2020, with an annual growth rate of nearly 20%[43]. - By 2026, the smart transportation industry market size is expected to exceed 400 billion yuan, with an average annual compound growth rate of around 16%[43]. - The central government's focus on rural revitalization has led to a continuous push for infrastructure improvements in rural areas, creating new opportunities for the design and consulting industry[44]. - The "14th Five-Year Plan" for digital economy development aims to significantly enhance the digitalization and intelligence levels in the transportation sector by 2025[42]. - The implementation of the "New Infrastructure" initiative has accelerated the development of smart transportation technologies and infrastructure projects[40]. - The company aims to start the renovation of over 50,000 old residential communities in 2023, benefiting approximately 20 million residents[48]. Research and Development - Research and development expenses increased by 24.53% to ¥38,234,854.35, primarily due to the increase in R&D projects[78]. - R&D investment amounted to ¥38,234,854.35 in 2022, representing a 24.53% increase from ¥30,703,345.35 in 2021[83]. - The company is focusing on digital transformation, with the completion of a new information platform and the extensive application of BIM technology across various sectors[69]. - The company has established a research center for smart transportation engineering, recognized as a key technology research center in Wuxi[58]. - The company is committed to advancing new business sectors, including green low-carbon initiatives and smart city projects, with a focus on technology research and product development[65]. Governance and Compliance - The company has established an independent financial department with a complete accounting system, allowing for autonomous financial operations without external interference[127]. - The company has a robust financial management system, including independent bank accounts and tax reporting[127]. - The company has a clear strategy for maintaining independence in operations, finance, and management, which is crucial for its long-term growth[127]. - The company has established a comprehensive internal control system covering all levels, ensuring clear responsibilities and effective supervision among the board, management, and employees[170]. - The internal control self-assessment report was fully disclosed on April 22, 2023, indicating that all units evaluated accounted for 100% of the company's total assets and revenue[172]. Community Engagement and Social Responsibility - The company has actively participated in community service initiatives, including legal awareness campaigns and support for vulnerable groups[180]. - The company has made a donation for the construction of a medical facility in Aheqi Village, contributing to local healthcare improvements[180]. - The company has completed various infrastructure projects in Gansu and Tibet, contributing to rural revitalization and poverty alleviation efforts[181]. - Over 200 rural road construction design projects have been successfully completed in Jiangsu and other provinces, enhancing transportation and connectivity[183].