[年报]公牛集团(603195):公牛集团股份有限公司2022年年度报告（英文版）
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时间：2023年05月11日 17:27:45 中财网 |
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原标题:公牛集团:公牛集团股份有限公司2022年年度报告（英文版）
Stock Code: 603195 Stock Name: Gongniu Group
公牛集团股份有限公司
GONGNIU GROUP CO., LTD.
Annual Report 2022
Important Notes
1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management of Gongniu Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations, misleading statements or material omissions, and collectively and individually accept legal responsibility for such contents.
2. All the directors of the Company attended the board meeting for the review of this Report.
3. Pan-China Certified Public Accountants LLP has issued an independent auditor’s report with unmodified unqualified opinion for the Company.
4. Ruan Liping, the Company’s legal representative, Zhang Lina, the Company’s Chief Financial Officer, and Luo Yuebo, head of the Company’s financial department (equivalent to financial manager) hereby guarantee that the financial statements carried in this Report are true, accurate and complete.
5. Final dividend plan approved by the Board of Directors
As audited by Pan-China Certified Public Accountants LLP, net profit attributable to shareholders of the Company as the parent stood at RMB3,188,619,359.56 for 2022, and the cumulative distributable
profit of the Company as the parent was RMB4,693,667,008.01 as at 31 December 2022. The 2022 final dividend plan is as follows: Based on the total share capital (exclusive of the shares in the Company’s
repurchased share account) at the record date of the dividend payout, the Company intends to pay a cash
dividend of RMB33 (tax inclusive) per 10 shares to shareholders, with a bonus issue of 4.8 additional
shares for every 10 shares held by shareholders from capital reserves. According to the total share capital of 601,077,590 shares minus the 46 shares in the repurchased share account at the date when this Report was authorized for issue, the total cash dividend amount is
RMB1,983,555,895.20 (tax inclusive), and the total share capital will increase to 889,594,811 shares
upon the bonus issue (share capital subject to the number registered with the Shanghai branch of China
Securities Depository and Clearing Co., Ltd., with tail difference, if any, due to rounding). Where any change occurs to the total share capital before the record date of the dividend payout, the cash dividend and bonus issue per share shall remain the same while the total payout and bonus issue
amount shall be adjusted accordingly.
The final dividend plan is subject to final approval by the 2022 Annual General Meeting of Shareholders.
6. Risk warning regarding forward-looking statements
√ Applicable □ Not applicable
Any plans, development strategies and other forward-looking statements mentioned in this Report shall not be considered as promises to investors. Investors and those concerned shall be sufficiently
aware of the risks and understand the differences between plans and forecasts and promises.
7. Indicate whether any of the controlling shareholder or other related parties occupied the Company’s capital for non-operating purpose.
N/A
8. Indicate whether the Company provided any guarantee for any external party in violation of the prescribed decision-making procedure.
N/A
9. Indicate whether over half of the directors refused to guarantee the truthfulness, accuracy and completeness of this Report.
N/A
10. Major risk warning
The Company has described the possible risks in this Report. For further information, please refer to the contents under the heading “Possible risks” under Item VI (IV) in “Part III Management Discussion and Analysis”.
11. Other information
□ Applicable √ Not applicable
To Shareholders
In 2022, we surmounted a multitude of adversities, cultivating vitality amid crises and pioneering new paths in the face of change, ultimately achieving a robust growth in performance. Our traditional
business strengthened its competitive advantages, while our initial ventures into new markets and industries began to reveal their potential. The Company’s overall operational quality experienced a
comprehensive enhancement. We extend our gratitude to our shareholders for their unwavering support
and companionship, as well as to our devoted employees for their relentless efforts and persistence.
Throughout this year, we have diligently kept up with the evolving trends in consumer preferences, placing customer needs at the forefront of our priorities and actively pursuing product innovation. We
introduced a range of state-of-the-art products, such as orbital socket, ultra-thin switches with aerospace-level safety features, eye-friendly desk lamps, intelligent door locks with integrated peephole
cameras, and fan lights. This has enabled us to offer our customers a diverse selection of top-quality,
trendy, and visually attractive products.
We enthusiastically pursued the advancement of renewable energy and intelligent headless lamp. Upon its launch, our charging gun rapidly became the top-selling online product among independent brands. Additionally, our portable outdoor energy storage experienced swift growth, and our intelligent
headless lamp achieved more than RMB 100 million turnover during its inaugural year on the market, demonstrating a highly promising beginning.
In our extensive brand upgrade, we achieved remarkable progress by unveiling Gongniu’s fresh logo in 2022 and reinforcing our brand’s core message: “Gongniu is used by 7 out of 10 Chinese families.” Additionally, we launched the novel “Muguang” brand and proudly became the first China
space affiliate in the civil electrical industry. Our cutting-edge orbital socket quickly gained prominence,
emerging as the unrivaled leader among individual products, owing to innovative media promotion. This
success sets a robust foundation for our brand’s continued growth in 2023. We diligently endeavored to strengthen our management reforms and augment the development of our Bull Business System (BBS), and comprehensively implanted the improved BBS gene into the whole value chain consisting of production, research, sales, and service from point to surface and from
inside to outside, and thus enabled the BBS to be a powerful engine for our innovation, growth, cost
reduction and efficiency improvement. In 2022, we established a top-tier Audit and Risk Committee, focusing on addressing ten major risks and effectively enhancing our internal control management. Furthermore, we persistently advocated for organizational innovation and cultivated our talent pool to
ensure our company’s ongoing, healthy growth.
We stayed true to our founding mission, proactively embraced our social responsibility, and in 2022,
we established the “Gongniu Charity Trust”, the largest annual charity trust in the country. Additionally,
we actively contributed to Shanghai’s epidemic prevention and control efforts, supported the construction of cabin hospitals in Hong Kong, and participated in other crucial initiatives. Our efforts
made a positive impact in various fields, including epidemic prevention and control, culture, education,
health, poverty alleviation, disaster relief, and employee well-being. As we enter a new year, we also embrace new opportunities. China’s economic fundamentals are steadily improving, the new energy industry is booming and expanding, and China’s supply chain and
brand have gained global edge in some emerging sectors, all of which lay a solid foundation for our
company’s growth. In 2023, we will prioritize the following three areas of work: Firstly, we will diligently work to refine our brand, heightening the professionalism and premium appeal of the Gongniu brand to meet the domestic market’s demand for superior quality consumption.
We will further raise awareness of our flagship products, including converters, wall switches, and sockets, while increasing visibility for our eco-friendly offerings, such as LED lighting, clothes dryers,
and smart door locks. Additionally, we will bolster the promotion of our “Muguang” brand for strategic
new ventures, including headless lamp solutions, and establish a professional brand image. Secondly, we will fortify the core competitive edge of Gongniu’s new energy business by mastering critical technologies, including power modules, group charging, and intelligent control. We
will expedite the development of our marketing network and establish a swift-response service capability to accelerate our charging pile business growth and delve into the home energy storage market.
This will take Gongniu’s new energy business to the next level. Thirdly, we are passionately advancing the internationalization of the Gongniu brand. We are capitalizing on the new wave of new energy development in European and American markets by swiftly entering with our core new energy charging and home energy storage businesses. Simultaneously, we are embracing the new cycle of household electrification development in Southeast Asia and other countries by overcoming the development bottleneck of Chinese brands in emerging markets with core products like converters.
Though the journey ahead may be lengthy and filled with challenges, we will reach our destination by persistently pressing onward. We will maintain our business philosophy of “taking the long way with
professionalism and devotion” as we forge ahead. Our commitment lies in generating high-quality and
sustainable value returns for our shareholders and striving relentlessly to achieve our vision of “becoming a leader in the international civil electrical industry”.
Board of Directors of Gongniu Group Co., Ltd.
27 April 2023
Contents
Part I Definitions ...................................................................................................................... 7
Part II General Information of the Company and Key Financial Indicators..................... 10
Part III Management Discussion and Analysis ....................................................................... 16
Part IV Corporate Governance ................................................................................................ 54
Part V Environmental and Social Responsibility .................................................................. 77
Part VI Significant Events ......................................................................................................... 81
Part VII Changes in Ordinary Shares and Information about Shareholders ........................ 99
Part VIII Relevant Information of Corporate Bonds ............................................................. 111
Part IX Relevant Information of Preference Shares ........................................................... 112
Part X Financial Statements.................................................................................................. 113
| Documents available for
reference | The financial statements for the year ended 31 December 2022 signed and
stamped by the legal representative, the Chief Financial Officer, and the head
of the financial department |
| | The Independent Auditor’s Report for the year ended 31 December 2022
stamped by the CPA firm, as well as signed and stamped by the relevant
certified public accountants |
| | The originals of all the Company’s documents and announcements disclosed
on newspapers and websites designated by CSRC during the Reporting
Period |
Part I Definitions
I Definitions
The expressions in the left column in the table below refer to the contents in the right column unless
otherwise specified.
| Definitions of frequently used terms | | |
| The “Company”,
“Gongniu”, or “we” | refers to | Gongniu Group Co., Ltd. |
| Reporting Period | refers to | The period from 1 January 2022 to 31 December 2022 |
| Liangji Industrial | refers to | Ningbo Liangji Industrial Co., Ltd., the Company’s controlling
shareholder |
| Ninghui Investment | refers to | Ningbo Ninghui Investment Management Partnership (Limited
Partnership) , the Company’s shareholder |
| Suiyuan Investment | refers to | Ningbo Suiyuan Investment Management Partnership (Limited
Partnership) , the Company’s shareholder |
| Qiyuanbao | refers to | Ningbo Qiyuanbao Investment Management Partnership
(Limited Partnership) , the Company’s shareholder |
| Cixi Gongniu | refers to | Cixi Gongniu Electrics Co., Ltd., a wholly-owned subsidiary
of the Company |
| Shanghai Gongniu | refers to | Shanghai Gongniu Electrics Co., Ltd., a wholly-owned
subsidiary of the Company |
| Ningbo Gongniu | refers to | Ningbo Gongniu Electrics Co., Ltd., a wholly-owned
subsidiary of the Company |
| Banmen Electric
Appliance | refers to | Ningbo Banmen Electric Appliance Co., Ltd., a wholly-owned
subsidiary of the Company |
| Gongniu Photoelectric | refers to | Ningbo Gongniu Photoelectric Technology Co., Ltd., a
wholly-owned subsidiary of the Company |
| Gongniu Precision | refers to | Ningbo Gongniu Precision Manufacturing Co., Ltd., a
wholly-owned subsidiary of the Company |
| Gongniu Digital | refers to | Ningbo Gongniu Digital Technology Co., Ltd., a
wholly-owned subsidiary of the Company |
| Bull International Trading | refers to | Ningbo Bull International Trading Co., Ltd., a wholly-owned
subsidiary of the Company |
| Xingluo Trading | refers to | Ningbo Xingluo Trading Co., Ltd., a wholly-owned subsidiary
of the Company |
| Electric Sales | refers to | Ningbo Gongniu Electric Sales Co., Ltd., a wholly-owned
subsidiary of the Company |
| Bull HK | refers to | Bull International Trading (HK) Limited, a wholly-owned
subsidiary of the Company |
| Gongniu Low Voltage | refers to | Ningbo Gongniu Low Voltage Electric Co., Ltd., a
wholly-owned subsidiary of the Company |
| Hainan Dacheng | refers to | Hainan Dacheng Supply Chain Management Co., Ltd., a
wholly-owned subsidiary of the Company |
| Murora Intelligent | refers to | Guangdong Murora Intelligent Lighting Co., Ltd., a
wholly-owned subsidiary of the Company |
| Gongniu New Energy | refers to | Ningbo Gongniu New Energy Technology Co., Ltd., a
wholly-owned subsidiary of the Company |
| Information Technology | refers to | Shanghai Gongniu Information Technology Co., Ltd., a
wholly-owned subsidiary of the Company |
| Shenzhen Intelligent | refers to | Shenzhen Gongniu Intelligent Information Co., Ltd., a
wholly-owned subsidiary of the Company |
| Domestic Electrical
Appliance | refers to | Ningbo Gongniu Domestic Electrical Appliance Co., Ltd., a
wholly-owned subsidiary of the Company |
| Gongniu Marketing | refers to | Ningbo Gongniu Marketing Co., Ltd., a wholly-owned
subsidiary of the Company |
| Hangniu Hardware | refers to | Hangzhou Hangniu Hardware and Electrical Co., Ltd. |
| Dalitek | refers to | Dalitek Intelligent Technology (Shanghai) Inc., a
majority-owned subsidiary of the Company |
| Liangniu Hardware | refers to | Hangzhou Liangniu Hardware and Electrical Co., Ltd. |
| Feiniu Hardware | refers to | Hangzhou Feiniu Hardware and Electrical Co., Ltd. |
| Niuweiwang Trading | refers to | Suzhou Niuweiwang Trading Co., Ltd. |
| Cixi Libo | refers to | Cixi Libo Electric Co., Ltd. |
| Yaoyang Trading | refers to | Yichang Yaoyang Trading Co., Ltd. |
| Huantian Technology | refers to | Hubei Huantian Technology Co., Ltd. |
| Jianke Trading | refers to | Changde Jianke Trading Co., Ltd. |
| Chenhao Electronic | refers to | Beijing Chenhao Electronic Technology Co., Ltd. |
| Guoxin Trading | refers to | Changde Guoxin Trading Co., Ltd. |
| Qiudi Trading | refers to | Hebei Qiudi Trading Co., Ltd. |
| The “Articles of
Association” | refers to | The Articles of Association of Gongniu Group Co., Ltd. |
| The “Company Law” | refers to | The Company Law of the People’s Republic of China |
| The “Securities Law” | refers to | The Securities Law of the People’s Republic of China |
| A-stock | refers to | RMB-denominated ordinary stock |
| CSRC | refers to | China Securities Regulatory Commission |
| The Ministry of Finance | refers to | The Ministry of Finance of the People’s Republic of China |
| STA | refers to | The State Taxation Administration of the People’s Republic of
China |
| Sinolink Securities | refers to | Sinolink Securities Co., Ltd. |
| PCCPA or the
“Independent Auditor” | refers to | Pan-China Certified Public Accountants LLP |
| RMB
RMB’000
RMB’0,000
RMB’00,000,000 | refers to | Expressed in the Chinese currency of Renminbi
Expressed in thousands of Renminbi
Expressed in tens of thousands of Renminbi
Expressed in hundreds of millions of Renminbi |
II Terminology
| Civil electrical
appliances | refers to | Products that are typically purchased at the discretion of consumers and
are suitable for use at home, in the office and on other occasions for
power connection, transmission, storage, conversion, control and other
functions, such as adaptors, wall switches and sockets, circuit breakers,
distribution boxes, LED lamps, etc. |
| Adaptors | refers to | Products that are produced in accordance with GB/T 2099.3-2015 Plugs
and Socket-outlets for Household and Similar Purposes -- Parts 2-5:
Particular Requirements for Adaptors, GB/T 2099.7-2015 Plugs and
Socket-outlets for Household and Similar Purposes -- Parts 2-7:
Particular Requirements for Extension-cord Sockets and GB/T
2099.1-2008 Plugs and Socket-outlets for Household and Similar
Purposes -- Part 1: General Requirements, as well as similar foreign
standards, and are commonly referred to as adaptors in the Company.
Consumers or peer companies often call adaptors socket-outlets, power
strips, portable sockets, extension-cord sockets, or power converters. |
| PDU | refers to | Power Distribution Unit. PDU is an electric connection product suitable
for power distribution at the data center end that can make power
distribution more orderly, reliable, safe, professional and beautiful and
make power supply maintenance more convenient and reliable. |
| Wall switches
and sockets | refers to | Wall switches and wall sockets. Specifically, a wall switch refers to a
device mounted on the wall for switching on/off the current of one or
more circuits and is commonly used to control the on/off status of
lighting lamps. A wall socket, also known as a fixed socket, is an
electrical accessory mounted on the wall, with a socket inserted with a
pin of a plug and installed with terminals for connecting soft cables and |
| | | hard wires, and is often used to provide a power supply interface for
electrical products. |
| Smart
ecosystem | refers to | A novel, intelligent household appliance network that builds an
interconnected smart home ecosystem. |
| LED lighting | refers to | Light sources that are produced using light-emitting diodes (such as LED
bulb lamps), or luminaries that are produced using LED as a light source. |
| No-main-lamp
lighting | refers to | A lighting design style and lighting without the main light source, that is,
a lighting design technique through which downlights, spotlights, light
belts, track lights and other luminaries are used to create a light (light
and shadow) atmosphere in a point-line-surface combination manner. |
| Charging plugs | refers to | Portable chargers that are suitable for AC charging of new energy
vehicles and special protectors used to connect household sockets and
electric vehicles, with such functions as over-voltage and under-voltage
protection, over-current protection and leakage protection. |
| Charging points | refers to | Fixed charging devices for AC charging of new energy vehicles that
often require special wiring and installation in garages and special
parking spaces, with such functions as over-voltage and under-voltage
protection, over-current protection, leakage protection, insulation
detection, electricity billing, timed charging and reserved charging. |
| Circuit breakers | refers to | A mechanical switching device that can connect, carry and disconnect
the current both under normal circuit conditions and under specified
abnormal circuit conditions. They are also known as automatic switches
and are widely used in households, factories and other distribution
circuits. |
| Distribution,
delivery, visit
and sales | refers to | A sales model in which specialized vehicles are used to provide retail
stores with goods distribution, goods delivery, visit services and
door-to-door sales on a regular basis along a fixed planned route. |
| BBS | refers to | Bull Business System |
Part II General Information of the Company and Key Financial Indicators
I Corporate Information
| Company name in Chinese | 公牛集团股份有限公司 |
| Abbr. | 公牛集团 |
| Company name in English | GONGNIU GROUP CO.,LTD. |
| Abbr. | GONGNIU |
| Legal representative | Ruan Liping |
II Contact Information
| | Board Secretary | Securities Representative |
| Name | Liu Shengsong | Jin Xiaoxue |
| Address | Tower 20, Baoshi Plaza, 487 Tianlin
Road, Xuhui District, Shanghai | Tower 20, Baoshi Plaza, 487 Tianlin Road,
Xuhui District, Shanghai |
| Tel. | 021-33561091 | 021-33561091 |
| Fax | 021-33561091 | 021-33561091 |
| E-mail
address | [email protected] | [email protected] |
III General Company Information
| Registered address | East Zone of Guanhaiwei Town Industrial Park, Cixi City,
Zhejiang Province |
| Changes of registered address | N/A |
| Office address | Tower 20, Baoshi Plaza, 487 Tianlin Road, Xuhui District,
Shanghai |
| Zip code | 201103 |
| Company website | http://www.gongniu.cn |
| Email address | [email protected] |
IV Media for Information Disclosure and Place where this Report Is Lodged
| Media and websites where this Report is
disclosed | China Securities Journal, Shanghai Securities News,
Securities Daily, and Securities Times |
| Stock exchange website where this Report is
disclosed | http://www.sse.com.cn |
| Place where this Report is lodged | The Securities Department of the Company |
V Stock Profile
| Stock profile | | | | |
| Class of stock | Stock exchange | Stock name | Stock code | Formerly used stock
name |
| A-stock | Shanghai Stock
exchange | Gongniu Group | 603195 | / |
VI Other Information
| Domestic CPA firm appointed
by the Company | Name | Pan-China Certified Public Accountants LLP |
| | Office address | Block B, China Resources Building, 1366 |
| | | Qianjiang Road, Jianggan District, Hangzhou |
| | Accountants
writing signatures | Qian Zhongxian, and Liu Chong |
| Sponsor that exercised
supervision over the Company
in the Reporting Period | Name | Sinolink Securities Co., Ltd. |
| | Office address | 23/F, Zizhu International Plaza, 1088 Fangdian
Road, Pudong New District, Shanghai |
| | Representatives
writing signatures | Du Chunjing, and Feng Bing |
| | Supervision
period | From 6 February 2020 to 31 December 2022 |
VII Key Financial Information for the Past Three Years
(I) Key accounting information
Unit: RMB
| Key accounting
information | 2022 | 2021 | 2022-over-2021
change (%) | 2020 |
| Operating revenue | 14,081,373,030.94 | 12,384,916,337.51 | 13.70 | 10,051,128,834.05 |
| Net profit attributable
to the listed
company’s
shareholders | 3,188,619,359.56 | 2,780,360,732.66 | 14.68 | 2,313,430,074.14 |
| Net profit attributable
to the listed
company’s
shareholders before
exceptional gains and
losses | 2,904,148,417.50 | 2,632,476,489.56 | 10.32 | 2,221,818,427.52 |
| Net cash generated
from/used in
operating activities | 3,057,914,218.16 | 3,014,326,741.14 | 1.45 | 3,437,202,711.65 |
| | 31 December
2022 | 31 December
2021 | Change of 31
December 2022
over 31
December 2021
(%) | 31 December
2020 |
| Equity attributable to
the listed company’s
shareholders | 12,398,865,675.75 | 10,755,751,576.63 | 15.28 | 9,137,392,569.09 |
| Total assets | 16,650,497,198.32 | 15,473,904,666.62 | 7.60 | 12,437,541,574.38 |
(II) Key financial indicators
| Key financial indicator | 2022 | 2021 | 2022-over-2021
change (%) | 2020 |
| Basic earnings per share
(RMB/share) | 5.32 | 4.63 | 14.90 | 3.89 |
| Diluted earnings per share
(RMB/share) | 5.30 | 4.63 | 14.47 | 3.89 |
| Basic earnings per share before
exceptional gains and losses
(RMB/share) | 4.84 | 4.39 | 10.25 | 3.73 |
| Weighted average return on equity
(%) | 27.88 | 28.28 | Down by 0.40
percentage po
int | 26.87 |
| Weighted average return on equity
before exceptional gains and losses
(%) | 25.39 | 26.77 | Down by 1.38
percentage po
ints | 25.81 |
Explanations about the key accounting and financial information for the past three years: □ Applicable √ Not applicable
VIII Accounting Data Differences under China’s Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards
(I) Differences in net profit and equity attributable to the listed company’s shareholders under CAS and IFRS
□ Applicable √ Not applicable
(II) Differences in net profit and equity attributable to the listed company’s shareholders under CAS and foreign accounting standards
□ Applicable √ Not applicable
(III) Reasons for accounting data differences above
□ Applicable √ Not applicable
IX Key Financial Information for 2022 by Quarter
Unit: RMB
| | Q1
(January-March) | Q2
(April-June) | Q3
(July-September) | Q4
(October-December) |
| Operating
revenue | 3,078,423,636.94 | 3,759,884,528.11 | 3,636,181,747.68 | 3,606,883,118.21 |
| Net profit
attributable to
the listed
company’s
shareholders | 641,426,707.25 | 866,370,913.31 | 853,623,027.81 | 827,198,711.19 |
| Net profit
attributable to
the listed
company’s
shareholders
before
exceptional gains
and losses | 562,060,111.05 | 810,718,307.90 | 739,555,455.44 | 791,814,543.11 |
| Net cash
generated
from/used in
operating
activities | 433,646,077.61 | 711,246,493.62 | 836,250,178.68 | 1,076,771,468.25 |
Indicate whether any of the quarterly financial data in the table above differs from what have been
disclosed in the Company’s past periodic reports.
□ Applicable √ Not applicable
X Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
| Item | 2022 | Notes (if | 2021 | 2020 |
| | | applicable) | | |
| Gain or loss on disposal of
non-current assets | -3,980,890.27 | | -9,714,625.18 | -669,979.13 |
| Exceptional tax rebates,
reductions and exemptions
given with ultra vires approval,
in lack of official approval
documents or for other reasons | | | | |
| Government grants through
profit or loss (exclusive of
government grants consistently
given in the Company’s
ordinary course of business at
fixed quotas or amounts as per
governmental policies or
standards) | 130,991,587.24 | | 388,196,973.94 | 126,164,339.75 |
| Capital occupation charges on
non-financial enterprises that
are recognized in profit or loss | 590,062.34 | | 8,121,324.51 | 407,671.23 |
| Gain equal to the amount by
which investment costs for the
Company to obtain
subsidiaries, associates and
joint ventures are lower than
the Company’s enjoyable fair
value of identifiable net assets
of investees when making
investments | | | | |
| Gain or loss on non-monetary
asset swaps | | | | |
| Gain or loss on assets
entrusted to other entities for
investment or management | 279,374,491.92 | | 171,623,256.63 | 166,225,979.47 |
| Allowance for asset
impairments due to acts of
God such as natural disasters | | | | |
| Gain or loss on debt
restructuring | | | | |
| Restructuring costs in staff
arrangement, integration, etc. | | | | |
| Gain or loss on the over-fair
value amount as a result of
transactions with distinctly
unfair prices | | | | |
| Current profit or loss on
subsidiaries obtained in
business combinations
involving entities under
common control from the
period-begin to combination
dates, net | | | | |
| Gain or loss on contingencies
that do not arise in the
Company’s ordinary course of
business | | | | |
| Gain or loss on fair-value | -7,385,680.00 | | 11,107,836.63 | -114,631,050.00 |
| changes on held-for-trading
and derivative financial assets
and liabilities & income from
disposal of held-for-trading
and derivative financial assets
and liabilities and other debt
investments (exclusive of the
effective portion of hedges that
arise in the Company’s
ordinary course of business) | | | | |
| Reversed portions of
impairment allowances for
receivables and contract assets
which are tested individually
for impairment | | | | |
| Gain or loss on loan
entrustments | | | | |
| Gain or loss on fair-value
changes in investment property
of which subsequent
measurement is carried out
using the fair value method | | | | |
| Effects of all adjustments
required by taxation,
accounting and other
applicable laws and
regulations on current profit or
loss | | | | |
| Income from charges on
entrusted management | | | | |
| Non-operating income and
expense other than the above | -58,763,095.61 | | -327,898,293.86 | -47,932,397.93 |
| Other gains and losses that
meet the definition of
exceptional gain/loss | 1,712,485.52 | | 2,739,167.53 | 1,014,971.00 |
| Less: Income tax effects | 57,894,123.94 | | 96,291,397.10 | 38,967,887.77 |
| Non-controlling interests
effects (net of tax) | 173,895.14 | | | |
| Total | 284,470,942.06 | | 147,884,243.10 | 91,611,646.62 |
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed
in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
XI Items Measured at Fair Value
√ Applicable □ Not applicable
Unit: RMB
| Item | Opening balance | Closing balance | Change in the
period | Effect on current
profit |
| Held-for-trading
financial assets | 5,926,600,000.00 | 6,949,000,000.00 | 1,022,400,000.00 | |
| Derivative financial
assets | 3,613,050.00 | 643,100.00 | -2,969,950.00 | |
| Receivables
financing | 927,023.00 | 1,036,801.70 | 109,778.70 | |
| Held-for-trading
financial liabilities | 0.00 | 18,200,000.00 | 18,200,000.00 | |
| Total | 5,931,140,073.00 | 6,968,879,901.70 | 1,037,739,828.70 | |
XII Other Information
□ Applicable √ Not applicable
Part III Management Discussion and Analysis
I Discussion and Analysis on Operations
Amid a complex and changeable external environment in 2022, the Company adopted an operating strategy of seeking progress in stability. As a result, it achieved steady growth in operating results and
maintained good resilience for development. For the year, operating revenue increased 13.70% year on
year to RMB14.081 billion and the net profit attributable to the Company’s shareholders amounted to
RMB3.189 billion, up 14.68% from the previous year.
During the Reporting Period, the Company focused closely on the three major businesses of electric connection, smart electrical lighting and new energy, continuously promoted product innovation and brand upgrading of traditional advantageous businesses such as adaptors and wall switches and sockets,
and accelerated the expansion of new businesses such as new energy connection and smart no-main-lamps, achieving a good start. These efforts have helped further enhance the Company's comprehensive competitiveness in product, channel, brand and supply chain, laying a solid foundation （未完）
