[年报]拓邦股份(002139):2022年年度报告（英文版）
原标题:拓邦股份:2022年年度报告（英文版） AnnualReport2022 SectionIImportantNotes,ContentsandDefinitions The Board of Directors, the Board of Supervisors and directors, supervisors and seniorexecutivesoftheCompanyherebyassurethatthecontentsetoutintheAnnualReportistrue,accurateandcomplete.Itshallbefreefromfalserecords,misleadingstatementsormajoromissions,andshallbearindividualandjointlegalliabilitiestherein. WuYongqiang,theprincipaloftheCompany,Xiangwei,accountinghead,andLuoMuchen,accountingdepartmenthead(thepersoninchargeofaccountingdepartment)herebyguaranteethetruth,accuracyandcompletenessofthefinancialreportinthisannualreport.AlldirectorshaveattendedtheBoardMeetingatwhichtheReportwasscrutinized.Forward-lookingstatements,suchasfutureplanscoveredintheReportarenotregardedastheactualcommitmenttoinvestorswhoshouldbealerttoinvestmentrisks.AdetailedexplanationoftherisksfacedbytheCompanyispresentedinSectionIIIoftheReport"Managementdiscussionandanalysis".Investorsarekindlyrequestedtonotetherelevantcontent.TheprofitdistributionplanofcommonstocksdeliberatedandpassedbytheBoardofDirectorsof the Company: Based on the total share capital of the Company of 1,264,354,172 shares(excluding5,181,200repurchasedtreasuryshares),theCompanydistributedcashdividendRMB0.6(taxinclusive)and0bonusshare(taxinclusive)forevery10sharestoallshareholders,withoutconvertingtheaccumulationfundtoincreasethesharecapital.Theaccumulatedretainedearningsremaining after the implementation of the profit distribution plan will be carried forward tosubsequentyears.IfthetotalsharecapitaloftheCompanychangesbeforetheimplementationoftheprofitdistributionplanduetoreasonssuchassharerepurchaseandstockoptionexercise,thetotaldistributionwillbeadjustedaccordinglybasedontheprincipleofkeepingthedistributionratiopershareunchanged.Investors areadvisedtopayattentiontotheriskofadjustingthetotaldistributionduetochangesintotalsharecapital. ThisreporthasbeenpreparedinChineseandtranslatedintoEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.GeneralManager'sspeech Dearshareholders,partners,andallfriendsconcernaboutTopband: ThankyouforyourattentionandsupporttoTopband,andIamhonoredtoshareour2022AnnualReportwithyouhere.Inthepastyear,wefacedmanychallenges,butwiththejointeffortsofallemployees,theCompanystillachievedremarkableresults.OursalesrevenuereachedRMB8.875billion,achievingdouble-digitgrowthandcompletingourannualbusinesstarget.Topbandhasbeenadheringtothe"long-termphilosophy";businessisinthelongrun,notinamoment.Ourmissionistoadvancehumansocietybymakingtheworldamoreinnovativeandlower-carbonplace.Overthepast26years,wehavebeencommittedtoprovidingsolutionstoourcustomersusingthe"fourelectricsandonenetwork"intelligenttechnologytocreatevaluearound"intelligent"and"lowcarbon." In2022,Iwillfocusonsharingfivekeyadvances. First, a healthierbusiness structure. Wehave formed a homeappliance segment withhouseholdastheapplicationscenario,atoolsegmentwithlaborasthescenario,andanewenergysegmentwithgreenandlow-carbonasthescenario.In2022,thebusinessofthenewenergysegmentwasincreasing,formingagoodsituationof"threelegsanddrivingsidebyside."Second,aricherproductportfolio.Throughcontinuoustechnologyandproductinnovation,wehaveformedamatrixofhundredsofproductscoveringthefourcoretechnologiesofelectriccontrol,battery,motor,andpowersupply.Weofferarangeofintelligentproductsandsolutionstohelpourcustomersandpartnersimprovetheircompetitivenessandachievemarketsuccess.Third,thelevelofintelligentmanufacturingsignificantlyimproved.Underthewaveofmanufacturingdevelopmentof"digitalization,networking,andintelligence,"wehavecreatedauniqueintelligentmanufacturingsystembasedon"lean,""automation,"and"digitalization"tobuildan intelligent factory with the "shortest delivery time, stable quality, best cost, and flexibledelivery."In2022,theCompanyachievedasignificantreductionintheoverallmanufacturingrate,areductioninthemanufacturingside,andasubstantialincreaseinintelligentmanufacturing.Fourth,theinternationallayoutcontinuestoaccelerate.In2022,VietnamandIndia'sbasescontinuedtoexpandproduction,andMexicoandRomaniabaseswerealsocompletedandputintooperation.InternationaloperationdepartmentsinEurope,America,SouthAfrica,andJapanwereestablishedoneafteranother,whichacceleratedthedevelopmentoftheCompany'sgloballayout.Fifth, continued improvement in organizational capacity. We further strengthen thebusinessunit(BU)organization,delegatemoreresourcesandauthoritytotheBU,supporttheBUtoserveourcustomersbetter,andpullthemiddleandbackofficedepartmentstoworktogetherthroughtheprocess.In2022,manynewBUbusinessesincreased,andorganizationalreforms'resultsgraduallybecameapparent. Lookingaheadto2023,althoughthereareuncertaintiesintheglobaleconomicsituation,webelieve that the development trend of "intelligent, low-carbon, and internationalization" willcontinueinthelongterm,andtheCompanystillhasexcellentdevelopmentopportunities.Wewilladheretothevalueconceptof"Agile-Innovation-Partnership,"gaindeepinsightintocustomerneeds,drivetherapidgrowthofnewbusinessesandnewproductswithinnovation,andgrowwithourpartners. In2023,Iamplacingparticularemphasisonthreestrategicpriorities.First,acceleratethedevelopmentofnewbusinessesandinnovativeproducts.Wehavedefinedourfuturestrategicemergingbusinessesandkeyinnovativeproductsthroughstrategicplanning.In2023,wewillfurtherlaunchaseriesofparticularactionsaroundkeynewbusinessesandinnovativeproductstofocusonacceleratingdevelopment. Second,accelerateinternationaloperations.TheneedforinternationalizationcontinuestogrowasthedemandforlocalizeddeliveryfromoverseascustomersincreasesandmoreChinesecompaniesgoabroad.TheCompanywillcontinuetoreplicateitssuccessfulexperienceinoverseasoperations, accelerate the layout of its operations in international markets and enhance itslocalizationcapabilitiesinmarkets,supplychains,andservices. Third,reducecostsandincreaseefficiencytoimproveoperatingefficiency.Costcontrolisalong-termtaskforenterprisesandacoretaskinthecurrenteconomicenvironment.Wewillbuildcostadvantagesbystrengtheningdesign,material,andmanufacturingcostreductions.Atthesametime,wewillfurtheroptimizeourorganizationalmanagementandcontinuetocarryoutlean,automated,anddigitalimprovementstocontinuouslyimproveouroperationalefficiencythroughdigitaloperationsinthesupplychain,manufacturing,andoperations. Lookingahead,wewillimplementspecificworkfollowingtheCompany'sstrategicplanning requirementsandcontinuetoworkcloselywithourpartners.Thankstothetrustandsupportofall shareholdersandpartners,wewillcontinuetoprovideexcellentproductsandservicestoour customersandbuildamoreintelligent,low-carbon,andbetterfutureworld. GeneralManager,ShenzhenTopbandCo.,Ltd.March31,2023 Contents SectionIImportantNotes,ContentsandDefinitions......................................................................2 SectionIICompanyprofileandprimaryfinancialindicators......................................................10 SectionIIIManagementDiscussionandAnalysis..........................................................................15 SectionIVCorporateGovernance...................................................................................................67 SectionVEnvironmentalandSocialResponsibility....................................................................102 SectionVIImportantMatters........................................................................................................103 SectionVIIShareChangeandShareholders................................................................................113 SectionVIIIInformationonPreferredShares.............................................................................123 SectionIXRelevantInformationofBonds...................................................................................124 SectionXFinancialReport.............................................................................................................125 Directoryofdocumentsforfuturereference I.FinancialstatementscontainingthesignaturesandsealsoftheleaderoftheCompany,theaccountingprincipalandtheaccountingdepartmenthead. II.Theoriginalauditreportbearingthesealoftheaccountingfirmandthesignaturesandsealsofthecertifiedpublicaccountants. III.TheoriginalsofallthecompanydocumentspubliclydisclosedinnewspapersdesignatedbytheCSRCduringthereportingperiodandtheoriginalmanuscriptsofannouncements.IV.TheoriginaloftheAnnualReport2022bearingthesignatureofthechairman.V.Alltheabovedocumentsarereadyandcomplete,andareavailableforreferenceattheofficeoftheBoardofDirectorsoftheCompany. Interpretation
I.Companyinformation
AccountingfirmengagedbytheCompany
VI.Mainaccountingdataandfinancialindicators WhethertheCompanyisrequiredtoretroactivelyadjustorrestatetheaccountingdataofpreviousyears□Yes?No
approximatelyRMB123.862million,anetincreaseofRMB96.1039millioncomparedtoRMB27.7581millionin2021(takingintoaccounttheimpactofrelatedincometaxexpenses). 2.Afterexcluding theimpact of theaforementioned share-basedpayment expenses, thenet profitattributableto shareholdersofthelistedcompaniesduringthereportingperiodwasRMB706.5173million,anincreaseof19.20%compared tothesameperiodlastyear;thenetprofitattributabletoshareholdersofthelistedcompaniesafterdeductionofnon- recurringprofitsandlosseswasRMB607.5651million,anincreaseof32.14%comparedtothesameperiodlastyear.WhicheverwastheloweroftheCompany'snetprofitbeforeorafterdeductionofnon-recurringprofitandlossforthelastthreefiscalyearswasnegative,andtheauditreportforthelatestyearshowedthattherewasuncertaintyabouttheCompany'sabilitytocontinueasagoingconcern. □Yes?No Thelowerofnetprofitbeforeandafterdeductionofnon-recurringprofitsandlosseswasnegative□Yes?No VII.Differencesinaccountingdataunderdomesticandforeignaccountingstandards1. Differences in net profit and net assets between financial reports disclosed in accordance withInternationalAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPatthesametime□Applicable?Notapplicable There is no difference in netprofit and netassets between financialreports disclosed in accordance with InternationalAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPduringthereportingperiod. (2)DifferencebetweenthenetprofitandnetassetsinthefinancialreportsdisclosedinaccordancewithbothforeignaccountingstandardsandChineseaccountingstandardsatthesametime□Applicable?Notapplicable ThereisnodifferenceinnetprofitandnetassetsbetweenfinancialreportsdisclosedinaccordancewithOverseasAccountingStandardsandthosedisclosedinaccordancewithPRCGAAPduringthereportingperiod.VIII.Mainfinancialindicatorsbyquarters Unit:RMB
IX.Itemsandamountofnon-recurringprofitandloss ?Applicable□Notapplicable Unit:RMB
None. Explanationofdefiningthenon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-recurringProfitsandLossesasrecurringprofitandlossitems □Applicable?Notapplicable There is no such situation of defining the non-recurring profit and loss items listed in the Explanatory AnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-recurringProfitsandLossesasrecurringprofitandlossitemsintheCompanySectionIIIManagementDiscussionandAnalysis I.IndustryinwhichtheCompanyoperatesduringthereportingperiod 1.Basicsituationoftheindustry Theintelligentcontrollerisaclassofadvancedautomaticcontroltechnologyandcomputertechnologythatintegratessensing,microelectronics,andpowerelectronicstechnologyandmanyothertechnicaldisciplinesandformshigh-techproducts.Itactslikethehumannervoussystem,playingtheroleof"nervecenter"and"brain"toachieveprecisecontrolofthephysicalworldthroughcollecting,processing,andanalyzingvariousinformation.Theapplicationfieldoftheintelligentcontrollerisvast,mainlyincludinghomeappliances,intelligenthomes,intelligentbuildings,powertools,industrialandautomation,automotiveelectronics,newenergy,andmedicalequipment.Withthecontinuousemergenceofnewtechnologies,intelligentcontroltechnologyisalsoconstantlydevelopingandupgrading,andthedegreeofintelligenceisgettinghigherandhigher.Especiallywith5G,theInternetofThings,artificialintelligence,cloudcomputing,andothernewtechnologiescontinuetointegratethe developmentofvariousproductstoacceleratetheiterationoftheintelligentcontrollerindustryasabroaderdevelopmentprospectwillemergemorenewproducts,newindustries,andnewmodels.2.Industrystatus TheCompanyisaleadingglobalsolutionproviderinintelligentcontrol,alwaysupholdsthevalueof"AgileInnovationPartner,"anddrivestheCompany'scontinuousdevelopmentthroughtechnologicalinnovation.TheCompanyhasformedacomprehensivetechnologysystemof"fourelectricsandonenetwork"(electriccontrol,motor,battery,powersupply,andIOTplatform),mainlyforfiveindustries:homeappliances,tools,newenergy,industry,andintelligentsolutions,providingcustomizedintelligentcontrolsolutionsfordownstreamcustomers. With the three unique capabilities of "platform-based technology innovation capability, partner-based customerservicecapability,andsystematicrapidresponsecapability"asthecore,theCompanyhasbeenforgingahead.Ithasestablishedclosepartnershipswithmanyheadlinecustomersintheindustry.TheCompanyisnowaleaderinintelligentcontrolsolutionsforthehomeapplianceandtoolindustriesandaninnovationleaderinthenewenergyandindustrialsectors. II.MainbusinessengagedbytheCompanyduringthereportingperiod TheCompany'sprimarybusinessistheresearchanddevelopment,production,andsalesofintelligentcontrol systemsolutions,i.e.,the"fourelectricsandonenetwork"technologyofelectriccontrol,motor,battery,power supply,andInternetofThingsplatformasthecore,forhomeappliances,tools,newenergy,industrial,intelligent solutions,andotherfiveindustriestoprovideavarietyofcustomizedsolutions.TheCompanyisagloballeaderin intelligentcontrolsolutionsforthehomeapplianceandtoolindustriesandaninnovationleaderinthenewenergy andindustrialsectors.1.TheCompany'scoretechnology:"fourelectricsandonenetwork,"electriccontrol,motor,battery,powertechnology,andInternetofthingsplatform. 1.1 Electrical control technology. The electrical control technology is the core of a microelectronic computer to achieve intelligent control technology, involving sensing technology, power electronics, signal processing technology, communication technology, interactive technology, power and energy conversion technology,electromagneticcompatibility,andmanyothertechnicalfields.TheCompanyfocusesondevelopingkey technologies such as automatic control technology, human-machine interaction technology, embedded computingtechnology,machinevisiontechnology,roboticstechnology,intelligentsensortechnology,andmotion controltechnology. TheCompanyhasformedhundredsofelectroniccontroltechnologyplatformsthatcanmeettheneedsofproductsinfourmajorindustries:homeappliances,tools,newenergy,andindustry.Theelectroniccontroltechnologyiswidelyusedinproductssuchascontrollers,electromechanicalintegration,powersupplies,andintelligentbatteries. 1.2Electronicmotortechnology.Motortechnologyconvertselectricalenergyintokineticenergyandisoneofthekey technologiesnecessaryforallkinds ofintelligentproducts andmodernindustries.Focusing oncontinuousinnovationofhighefficiency,lownoise,highprecision,andhighstabilityofmotors,theCompanyhasestablishedacompletetechnicalcapabilityfrommotordesignandsimulation,testing,andverificationtoscalemanufacturing,formingdozensofadvancedmotorproductplatformssuchasbrushlessDCmotors(BLDC),steppermotorsandservomotors. TheCompany'smotortechnologyhasbeensuccessfullyappliedtomanyfields,includingpowertools,automationequipment,intelligentappliances,newenergyvehicles,robots,andotherfields.Amongthem,theCompany'spowertoolsandmotioncontrolproductsareintheleadingpositioninChinaandhavebeenwidelyrecognizedinthemarket. 1.3Batterytechnology.Batterytechnologyisthetechnologywhereenergyisstoredandmanaged.Itscoretechnologiesincludebatterymaterialapplication,celldesignandmanufacturing,andbatterysystemintegration. Battery material application technologies include positive and negative electrode materials, electrolytes, diaphragms,andotherrelatedapplicationtechnologies;celldesignandmanufacturingincludeelectrochemicalarchitecturedesignandmanufacturingprocesstechnologiessuchascoating,laminating/winding,andforming;batterysystemintegrationconsistsofaseriesoftechnologiessuchasbatteryassembly,thermalmanagement,collisionandleakagesafety,accuratemeasurementofvoltage/current/temperaturesignals,batterystateestimation andcellequalization.Thetechnologyspansmultiplefieldsofmaterialscience,electrochemistry,electronics,and controlengineering.Afteryearsofaccumulation,theCompanyhasformedacompletedesign,developmentcustomization,and production technology capability from celltechnology (CELL) andbattery managementtechnology(BMS)tobatterypack(PACK)system. 1.4Powersupplytechnology.Powertechnologyisanelectricalenergyconversiontechnologythatsafely,efficiently,andintelligentlytransformsthefront-endinputintotherequiredoutputfortheload.TheCompanyhas variousanalogpowersupplies,switchingpowersupplies,anddigitalpowersupplytechnologyplatformswithdifferentpowerlevels.Itcanprovidecharging,inverter,andvariouscustomizedpowersupplysolutions.1.5InternetofThings(IoT)platform.TheIoTplatformisacollectionofthesensinglayer,connectivitylayer,andapplicationlayertechnologies,mainlyincludingconnectivitymanagement,devicemanagement,andapplication.TheCompanyhasformedacompletetechnicalcapabilityfromIoTmoduleandintelligentterminaltoAPPandPaaSIoTcloudplatform.Ithasdevelopedsolutionsformorethantenbusinessscenarios.2.TheCompany'smainproducts:for"homeappliances,tools,newenergy,industrial,intelligentsolutions,"fivesignificantindustriestoprovidecustomizedsystemsolutions.TheCompany'sproductsaremainlyclassifiedintofourcategories:controller,motor,powersupply,andbattery.TheCompany'sproductofferingmodelisbasedoncustomers'needsinfivemajordownstreamindustries:homeappliances,tools,newenergy,industry,andintelligentsolutions,andprovidescustomizedproductsandcomprehensivesolutionsbyusing"fourelectricsandonenetwork"coretechnologies.2.1Homeappliancesolutions TheCompanyprovidesarangeofcustomizedproductsandservices,fromproductconcept,design,anddevelopmenttomanufacturingdeliveryforbrandedcustomersinthehomeapplianceindustry.Theproductsaremainlyinvolvedincontrollerandmotorcategories,includinghomeappliancemastercontrol,powercontrol,motordriveandcontrol,displaycontrol,etc.Theproductsaremainlyusedinvariousfields,suchasHVAC,kitchenappliances,cleaningappliances,healthcare,lighting,andintelligenthome.2.2Toolsolutions Thetoolindustrymainlyincludespower,garden,andotherprofessionaltools.TheCompanyprovidescustomizedproductsandservices,fromconcept,design,anddevelopmenttomanufacturingdeliveryforbrandedcustomersinthetoolindustry.TheCompany'sproductsmainlyinvolvefourcomponents:controller,motor,batteryandpowersupply,andsomeexclusiveintelligentproducts. 2.3Newenergysolutions Thenewenergybusinessmainlyfocusesontwomajorapplicationareas:smallandmedium-sizedenergystorageandnewenergyvehicles,withproductsinfourcategories:batteries,powersupplies,controllers,andmotors.Fortheenergystorageindustry,theCompanyprovidescomponentproducts,includingcells,BMS,PCS,EMS,etc.,andcompleteproducts,suchashouseholdenergystorage,industrialandcommercialenergystorage,communicationpowerbackup,portableenergystorage,etc.Forthenewenergyvehicleindustry,theCompanymainlyprovidesintelligentcontrollersandchargingequipmentforcustomersinthefieldsofnewenergyvehicles,otherspecialvehicles,andE-bike. 2.4Industrialsolutions In the industrial control industry, the main business is developing, producing, and selling specialized industrialintelligentcontrolproducts,mainlyinvolvingstepper,servodrive,andmotioncontrolproducts.TheCompanymainlyfocusesondownstreamautomationequipmentcustomers,providingthemwithcontrollers,drivers,motors,etc.Downstreamapplicationsinvolve3Celectronics,robotics,medicalequipment,semiconductor equipment, photovoltaic, lithium battery industry, etc. We are committed to helping automation equipment manufacturersimproveequipmentdesignperformance,reduceequipmentmanufacturingcosts,andacceleratethedevelopmentofnewequipment.Wearecommittedtohelpingautomationequipmentmanufacturersimprovedesignperformance,reduceequipmentmanufacturingcosts,andspeedupnewequipmentdevelopment.2.5Intelligentsolutions AnintelligentsolutionisbasedontheCompany'sAIoT(ArtificialIntelligenceInternetofThings)technologyplatformandintelligentproductinnovationcapabilitiesasthecorefor"clothing,food,housingandtransportation" and"industry,catering,hotels,parks"andothersegmentationscenarios,toprovide"innovativeproducts+AIoTplatform+customizedservices"comprehensiveintelligentsolutions.III.Analysisofcorecompetitiveness 1.Platform-basedtechnologyinnovationcapability. TheCompanytakestechnologyasthegeneofenterprisedevelopmentandconsidersinnovationasthecorecompetenceoftheCompany.TheCompanyhastheindustry-leadingplatformtechnologyinnovationcapability,formingacompletetechnologyplatformcoveringvariouscoretechnologyareasofintelligentcontrolintegrationsolutions. The Company has the ability of deep understanding of various control mechanisms, independentimplementation,andcontinuousinnovation,coveringthecoretechnologiesofintelligentcontrolalgorithm,motor control,lithiumbattery,sodiumbattery,sensing,human-machineinteraction,imagerecognition,digitalpowersupply,embeddedsoftware,temperaturecontrol,heating,andcooling,etc.Inaddition,theCompanyhasarichproductlinethatformsmanyproductplatforms.Eachcoreproductplatformhasbeenverifiedinmassproductiontoensurequalityandreliability.Wecanquicklyprovidecustomerswithhigh-quality,differentiatedcustomsolutionstomeettheirneeds.Inaddition,theCompanyhastheindustry's unique"controller+motor+battery+powersupply"totalsolutioncapability,withtheabilitytocontinuouslydevelopinnovativesolutionsinnewcategories,whichcanhelpcustomersinnovateinthecompetitiontowin.Inaddition,theCompanyhastheindustry'sunique"controller+motor+battery+power"totalsolutioncapability,withtheabilitytocontinuouslydevelopinnovativenewcategorysolutions,whichcanhelpcustomersinthecompetitiveinnovationtowin. 2.Partnershipcustomerservicecapability. TheCompanyinsistsonlong-termandtakesvalueco-creationandvaluewin-winasthedevelopmentconcepttodevelopalong-termpartnershipwithcustomers.Supportedbyplatform-basedtechnologyinnovationcapability, the Company continues to gain insight into customer needs, creates in-depth co-creations with customers, establishes organizational customer relationships, and builds partner-based customer service capabilities. Throughamulti-regionallayout,wehaveestablishedinternationalproductionbasesmainlyinPearlRiverDelta,YangtzeRiverDelta,SoutheastAsia,NorthAmerica,andEuropewhilebuildinganinternationaloperationcentertoenhanceourservicecapabilityintermsofmanagementcapabilityandresourceallocation,andsettingupseveraloverseasofficestoworkcloselywithourcustomers. 3.Systematicrapidresponsecapability. As intelligent technology evolves and uncertainty increases, the pace of global innovation iteration is accelerating,andcompaniesincreasinglyneedtobemoreagileintheiroperationstoservetheircustomers.Basedonadeepunderstandingoftheintelligentcontrolbusiness,theCompanyhascreatedastrongplatformsystemfromtheimplementationofIPDideasintheR&Danddesignprocess,thecorecustomerISCchangesinthesupplychainsystem,thelaboratoryandqualityassurancesystem,andtheintelligentmanufacturingplatformsystemtobuildacustomer-centricprocess-orientedorganization,internalizingtheCompany'ssuperiorcapabilities intoagileoperationalcapabilities,andtheagilesystemwillfurtherstrengthentheCompany'sadvantages,andthe twoformamutuallyreinforcingandvirtuousdevelopment,thusachievingsustainable,high-qualitygrowth.IV.Analysisofmainbusiness 1.Overview In2022,themacroenvironmentathomeandabroadwascomplexandchanging,whichisaverychallengingyearforbusinessdevelopment.Inthefaceofdifficulties,theCompanyfocusedonintelligentcontrolandnewenergy, insisting on high investment to drive high-level business development. The Company's intelligent controllerandnewenergybusinessbreakthroughagainstthetrend,achievingdoublegrowthinrevenueandprofit.Duringthereportingperiod,theCompanysteadilybuiltupitscorecompetitivenessthroughreliablequality,stabledelivery,highinvestmentinR&D,andmulti-regionallayout,quicklyrespondingtoandservingcustomers.ThemanagementledallemployeestocontinuouslythickentheendogenouscapacityoftheCompanyinoperationandmanagement,leanmanufacturing,andorganizationalchange.Thehomeapplianceandtoolbasecontinuedtogrowsteadily,andthenewenergybusinessachievedhighgrowth.In2022,withthejointeffortsofallemployees,theCompanyachievedoperatingrevenueofRMB8.875billion,anincreaseof14.27%year-on-year,netprofitattributabletoshareholdersofthelistedCompanyofRMB583million,anincreaseof3.13%year-on-year,andnetprofitattributabletoshareholdersofthelistedCompanyofRMB484millionafterdeductions,anincreaseof11.96%year-on-year.Thetotalshare-basedpaymentexpenserecognizedin2022duetotheequityincentiveisRMB124million,comparedwithRMB28millionyear-on-yearin2021,anetincreaseofabout96million(aftertakingintoaccounttheimpactofrelatedincometaxexpense),excludingtheeffectoftheaboveshare-basedpaymentexpense,thenetprofitattributabletoshareholdersofthelistedCompanyforthereportingperiodisRMB707million,up19.20%comparedwiththesameperiodlastyear;thenetprofitattributabletoshareholdersofthelistedCompanyisRMB608million,up32.14%comparedwiththesameperiodthepreviousyear.Annualoperatingresultsandcoreoperatingmetricsfor2022areasfollows:(I)Activelyrespondtothechallengesandrevenuegrowthagainstthetrend.1.Inlinewiththetrendofintelligent+low-carbon,theCompany'sbusinesscontinuestogrowUndertheopportunitiesofintelligence,lowcarbonization,andeconomicdevelopmenttomulti-regionaldevelopment,theindustryshowsthetrendofconcentrationtothehead,theCompanythroughthemarketinsight,advancedinternationalindustriallayout,theabilitytoobtainordersandbusinessresilienceincreasedyearbyyear. The Company actively explored structured opportunities in various regions and industries during thereportingperiod.Itachievedgoodoperatingresultsthroughkeyeffortssuchasheadcustomerdevelopment,international operations, product innovation, digital intelligence, and new business talent development. The Company's2021"supplyguarantee"strategyhaslaidasolidfoundationforsustainabledevelopment.Thenumberofheadcustomersandrevenuecontinuedtodoublegrowthduringthereportingperiod,withheadcustomersaccountingfor84%oftheCompany'stotalrevenue,contributingmorethan90%oftheincrementalrevenue;theCompanyattachesgreatimportancetothedevelopmentofnewbusiness,increasinginvestmentincutting-edgetechnologyandstrengtheningindustryinsightcapabilities,providingnewmomentumforsustainabledevelopment. 2.Stablebaseofscalegrowth,healthierbusinessstructure,richerproductportfolio,andcompetitiveresiliencecontinuestobehighlighted. Topbandhasbeenadheringtothe"long-termphilosophy";businessisinthelongrun,notinamoment.Ourmissionistoadvancehumansocietybymakingtheworldamoreinnovativeandlower-carbonplace.Overthepast26years,wehavebeencommittedtoprovidingsolutionstoourcustomersusingthe"fourelectricsandonenetwork"intelligenttechnologytocreatevaluearound"intelligent"and"lowcarbon."Wehaveformedahomeappliancesegmentwithhouseholdastheapplicationscenario,atoolsegmentwithlaborasthescenario,andanewenergy segment with green and low-carbon as the scenario. Through continuous technology and productinnovation,wehaveformedamatrixofhundredsofproductscoveringthefourcoretechnologiesofelectriccontrol,battery,motor,andpowersupply.Throughcontinuoustechnologyandproductinnovation,wehaveformedamatrixofhundredsofproductscoveringthefourcoretechnologiesofelectroniccontrol,battery,motor,andpowersupply. In2022,inthefaceofthecomplexandvolatilebusinessenvironmentsuchasstructuralpriceincreasesofrawmaterials,decliningdemand,andexchangeratefluctuations,thehomeappliancesandtoolssegment,astheCompany'sbase,achievedmodestgrowthandstillhadadvantagesandroomforgrowthdespitethehighbasein2021.AsthethirdgrowthcurveoftheCompany,thenewenergysegmenthasseenrapidbusinessgrowthandhasnowformedagoodsituationof"threelegsanddrivingsidebyside." 3.Healthydevelopmentofeachbusinesssegment,eachwithitsadvantages.(1)Toolingsegment:salesrevenueofRMB3.24billionin2022,up8.20%year-on-year.Betterthantheindustry'soverallgrowthrate,themarketshareisstableandincreasingyearly.TheCompanyhasarelativelyrichproductlineinthissegment.Itcanprovidedownstreamcustomerswithone-stopsolutions,includingcontrollers,motors,BMS,batterypacks,andcompletemachines,withnon-controllerproductssuchasmotors,toolbatterypacks,andcompletemachinesaccountingfor33%ofrevenuein2022. ThegrowthrateslowedinthereportingperiodduetotheeconomicboominEuropeandtheUnitedStates.Inthemediumandlongterm,theapplicationscenarioofthetoolisincreasing.ThemarketpenetrationrateoutsideEuropeandtheUnitedStatesalsohasmoreroomforimprovement,andtheindustrywillnotchangethetrendofsustainedgrowthduetoshort-termfactors.TheCompany'stoolbusinessfocusesonpowertoolsandgardentools.Theglobalpowertoolmarketsizeissteadilyincreasing,andthedownstreamconcentrationishigh.ThetoptenglobalOEMcustomersoccupyasignificantmarketshare,theterminalmarketinEuropeandtheUnitedStatesaccountsforahighermarketshare,andprofessionalgrade(e.g.,hightechnicalcontent,highprecision)andindustrialgrade(e.g.,highpower,highspeed)occupythesignificantshareofthetoolmarket.TheCompanyservesheadcustomers inthe tools segment, mainly providing professional-grade and industrial-gradeproducts and solutions.Inthefuture,withtheincreaseintherateoflithium-ionizationandcordlessnessoftoolsandthedevelopmentofproductstohigh-voltage,high-power,portableandintelligenttrends,theCompanywillplaytheadvantagesoftechnologyandproductportfolio,multi-regionalproductionandsupplytoachievethescaleofproductplatformsandvolumegrowthofheadcustomers,andtheCompany'smarketshareinthissegmentwillfurtherincrease. (2)Homeappliancesegment:salesrevenueofRMB3.092billionin2022,up4.48%year-on-year.Theapplicationofthehomeapplianceindustrypresentsadiscrete,comprehensiveconcentrationthatisnothigh.TheCompanyplaysacontinuousaccumulationoftechnicaladvantages,insomesegmentsoccupyingahighmarketshare and showing rapid growth trend. During the reporting period, the development oflarge customers is（未完）  |