BAOMING TECH(002992)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥939,823,483.63, a decrease of 15.74% compared to ¥1,115,367,986.58 in 2021[28]. - The net profit attributable to shareholders for 2022 was -¥223,327,446.93, an improvement of 36.96% from -¥354,266,400.59 in 2021[28]. - The net cash flow from operating activities for 2022 was ¥66,283,203.80, an increase of 40.14% compared to ¥47,297,923.16 in 2021[28]. - The total assets at the end of 2022 were ¥2,071,689,929.19, a decrease of 12.01% from ¥2,354,488,573.04 at the end of 2021[28]. - The net assets attributable to shareholders at the end of 2022 were ¥918,389,543.25, down 17.45% from ¥1,112,501,526.49 at the end of 2021[28]. - The basic earnings per share for 2022 was -¥1.25, an improvement of 36.87% from -¥1.98 in 2021[28]. - The weighted average return on equity for 2022 was -21.91%, an improvement from -27.03% in 2021[28]. Strategic Focus and Industry Position - The company operates in the "C39 Computer, Communication and Other Electronic Equipment Manufacturing" industry, focusing on the R&D, design, production, and sales of new flat panel display devices[33]. - The company is focused on developing new display technologies such as OLED, AMOLED, and MicroLED as part of its strategic initiatives[35]. - The company is also involved in expanding its market presence in the new energy lithium battery industry, supported by various government policies[35]. - The company is positioned within the midstream segment of the display panel industry, focusing on backlight sources and touch screen businesses[57]. - The company’s touch screen processing business primarily provides embedded touch products to downstream display panel manufacturers[77]. - The company is focused on expanding its market presence in the automotive display sector, driven by the increasing demand for smart driving and interactive navigation[133]. Operational Insights - The company has acknowledged potential risks in its future development strategy and operational goals[3]. - The company has engaged CITIC Securities as its financial advisor for continuous supervision during the reporting period[44]. - The company has established a complete organizational structure with independent procurement, production, sales, and R&D systems, ensuring no operational overlap with controlling shareholders[113]. - The company actively engaged in board meetings, providing suggestions that were adopted, demonstrating a commitment to governance and operational integrity[99]. - The company did not face any penalties or violations during the reporting period, indicating compliance with regulations[118]. - The company is committed to maintaining operational compliance with relevant laws and regulations, ensuring governance standards are met[99]. Market Trends and Projections - In 2022, global smartphone shipments reached 1.206 billion units, a year-on-year decrease of 11.3%, but the market is projected to stabilize and grow, potentially reaching 1.52 billion units by 2025[80]. - The demand for power lithium-ion batteries is expected to grow rapidly, with shipments projected to increase from 80 GWh in 2020 to 470 GWh by 2025, representing a compound annual growth rate of 43%[84]. - The market for electric vehicle batteries is benefiting from the national carbon neutrality strategy, with significant improvements in cost-performance ratio and market penetration expected[84]. - The global demand for automotive TFT-LCD panels is projected to reach approximately 250 million units by 2025, with a compound annual growth rate of about 5.82% from 2019 to 2025[133]. - The lithium battery copper foil industry is anticipated to maintain a stable growth trend, with a projected global demand of 970,000 tons by 2025, reflecting a CAGR of 33.9% from 2020 to 2025[150]. R&D and Innovation - The company is focused on R&D and production of LED backlight sources and capacitive touch screens, which are essential components of flat panel displays used in various applications including smartphones and automotive displays[179]. - The composite copper foil, as a new type of lithium battery anode current collector material, offers advantages such as low cost, high safety, and high energy density, aligning with industry development trends[170]. - The company’s capacitive touch screen business has grown rapidly, leveraging strong relationships with downstream customers in the LED backlight source sector, with production capacity expected to increase as the Ganzhou production base ramps up[166]. - The company emphasizes internal control systems to ensure compliance and enhance operational efficiency, contributing to strategic development[155]. Environmental and Compliance - The company has implemented environmental protection laws and has not faced any administrative penalties related to environmental issues during the reporting period[130]. - The company has not disclosed any significant environmental issues or corrective actions taken during the reporting period[135]. - The internal control audit report received a standard unqualified opinion, indicating effective internal controls in all material aspects[116]. - The internal control self-assessment report was disclosed on April 28, 2023, reflecting the company's commitment to transparency[116]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[16]. - The company reported a positive net profit for the reporting period, with the parent company's distributable profit being positive but no cash dividend distribution plan proposed[123]. - The company granted 639,960 restricted shares at a price of 6.49 CNY per share to 89 incentive targets, with the actual number of granted shares being 561,690 shares[139]. - The company has no new employee stock ownership plans or other incentive measures reported during the period[132]. - The company held multiple board meetings throughout the year, discussing key proposals including the incentive plan for restricted stock[120].