CSI Intelligent Financial News Const (300445) disclosed its 2022 annual report on March 28. In 2022, the company will achieve a total operating income of 414 million yuan, a year-on-year increase of 17.16%; the net profit attributable to the parent was 75.4593 million yuan, a year-on-year increase of 7.72%; deducted non-net profit of 90.8599 million yuan, a year-on-year increase of 38.42%; net cash flow from operating activities was 99.5925 million yuan, a year-on-year increase of 164.41%; During the reporting period, Const's basic earnings per share were 0.36 yuan, and the weighted average return on equity was 7.84%. The company's distribution plan for 2022 is: It is proposed to distribute 0.7 yuan (including tax) to all shareholders for every 10 shares.
Statistics show that the compound growth rate of Kangst's total operating income in the past three years is 13.07%, ranking 3rd among the 5 companies in the instrumentation industry that have disclosed data for 2022. The compound annual growth rate of net profit in the past three years is -1.49%, ranking 3/5.
According to the announcement, Const is a collection of mechatronics, software algorithm development, precision manufacturing in one of the high-end instrumentation enterprises, the main business for digital calibration testing instrumentation product development, production and sales, auxiliary digital platform, has been to provide global users with high performance and high reliability pressure, process signal, temperature and humidity calibration test product solutions, to help users to achieve the verification and analysis of products, technology, process parameters.
In terms of products, in the company's main business in 2022, the revenue of digital pressure testing products was 297 million yuan, a year-on-year increase of 7.01%, accounting for 71.65% of the operating income; The revenue of temperature and humidity detection products was 70 million yuan, a year-on-year increase of 11.27%, accounting for 16.88% of the operating income; The revenue of process signal detection products was 24 million yuan, a year-on-year increase of 168.34%, accounting for 5.72% of the operating income.
In 2022, the company's gross profit margin will be 63.49%, down 1.01 percentage points year-on-year; net profit margin will be 18.32%, down 1.78 percentage points from the same period last year.
In terms of products, the gross profit margins of digital pressure detection products, temperature and humidity detection products and process signal detection products in 2022 were 73.46%, 55.46% and 70.78%, respectively.
During the reporting period, the total sales amount of the company's top five customers was 52 million yuan, accounting for 12.51% of the total sales amount, and the total purchase amount of the company's top five suppliers was 65 million yuan, accounting for 24.44% of the total annual procurement amount.
The data shows that the company's weighted average return on net assets in 2022 will be 7.84%, an increase of 0.48 percentage points over the same period of the previous year; the company's return on invested capital in 2022 will be 7.55%, an increase of 0.35 percentage points over the same period of the previous year.
As of the end of 2022, the net cash flow of the company's operating activities was 99.5925 million yuan, a year-on-year increase of 164.41%; Net cash flow from financing activities was -21.3821 million yuan, an increase of 43.6738 million yuan year-on-year, and net cash flow from investment activities was -210 million yuan, compared with 66.8616 million yuan in the same period last year.
Further statistics found that the company's free cash flow in 2022 was -108 million yuan, compared to 116 million yuan in the same period of the previous year.
In 2022, the cash ratio of the company's operating income will be 121.69%, and the net present ratio will be 131.98%.
In terms of operating capacity, in 2022, the company's total asset turnover rate will be 0.38, compared with 0.35 in the same period of the previous year; the turnover rate of fixed assets will be 1.77, compared with 2.48 in the same period of the previous year; and the company's accounts receivable turnover rate and inventory turnover rate will be 5.27 times and 1.45 times respectively.
For the whole year of 2022, the company's expenses during the period were 170 million yuan, an increase of 10.6676 million yuan over the previous year, but the expense ratio during the period was 41.06%, down 4.02 percentage points from the same period of the previous year. Among them, sales expenses increased by 2.63% year-on-year, management expenses increased by 32.57% year-on-year, R&D expenses increased by 17.5% year-on-year, and financial expenses changed from 351,400 yuan in the same period last year to -9,969,600 yuan.
According to the announcement, the change in management expenses was mainly due to the new management expenses included in the consolidated statements of the software of the subsidiary during the reporting period and the depreciation of the new fixed assets of the subsidiary Sampu Xinyuan. The change in finance expenses was mainly due to exchange rate changes and interest income during the reporting period; The change in R&D expenses was mainly due to the consolidation of subsidiaries during the reporting period.
In terms of major changes in assets, as of the end of 2022, the company's monetary funds decreased by 32.39% from the end of the previous year, accounting for 13.23 percentage points of the company's total assets, mainly due to the purchase of wealth management products during the reporting period; fixed assets increased by 115.43% from the end of the previous year, accounting for 12.93 percentage points of the company's total assets; projects under construction decreased by 79.73% from the end of the previous year, accounting for 8.82 percentage points of the company's total assets; inventory increased by 51.64% from the end of the previous year. The proportion of the company's total assets increased by 2.70 percentage points, mainly due to the increase in the inventory of raw materials and finished products during the reporting period.
In terms of major changes in liabilities, as of the end of 2022, the company's contract liabilities increased by 163.91% from the end of the previous year, accounting for 1.01 percentage points of the company's total assets; accounts payable decreased by 11.19% from the end of the previous year, accounting for 0.84 percentage points of the company's total assets; non-current liabilities due within one year decreased by 56.76% from the end of the previous year, accounting for 0.23 percentage points of the company's total assets; and other current liabilities increased by 177.64% from the end of the previous year. The proportion of total assets of the company increased by 0.13 percentage points.
From the perspective of inventory changes, as of the end of 2022, the carrying value of the company's inventory was 126 million yuan, accounting for 12.65% of the net assets, an increase of 42.7998 million yuan from the end of the previous year. Among them, the inventory price decline reserve was 1.2186 million yuan, and the provision ratio was 0.96%.
In 2022, the company's R&D investment was 92.8795 million yuan, a year-on-year increase of 5.06%; The proportion of R&D investment in operating income was 22.44%, down 2.58 percentage points from the same period of the previous year. In addition, the capitalization rate of the company's R&D investment for the whole year was 36.13%.
According to the announcement, by the end of 2022, the company and its subsidiaries have submitted 106 patents under examination, including 11 PCT international patent applications and 74 domestic invention patent applications; During the protection period, there are 308 technical patents and 123 soft patents, including 31 domestic invention patents, 132 domestic utility model patents, 9 American invention patents, 6 British invention patents, and 6 German invention patents. From 2020 to 2022, the company has obtained a total of 207 new patents and 33 soft patents, including 18 domestic invention patents, 4 American invention patents, 4 British invention patents, and 4 German invention patents.
In terms of solvency, the company's asset-liability ratio at the end of 2022 was 13.47%, an increase of 4.44 percentage points over the same period of the previous year; the interest-bearing asset-liability ratio was 0.14%, down 0.23 percentage points from the same period of the previous year.
In 2022, the company's current ratio was 4.64 and the quick ratio was 3.61.
ACCORDING TO THE ANNUAL REPORT, AMONG THE TOP TEN CIRCULATING SHAREHOLDERS OF THE COMPANY AT THE END OF 2022, THE NEW SHAREHOLDERS ARE ZHAO SHICHUN, UBS AG, AND DACHENG GEM BOARD REGULARLY OPEN HYBRID SECURITIES INVESTMENT FUNDS FOR TWO YEARS, REPLACING THE PREVIOUS JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, DACHENG REENJOY HYBRID SECURITIES INVESTMENT FUND, ICBC ASSET MANAGEMENT (GLOBAL) CO., LTD. - CUSTOMER FUNDS (EXCHANGE).
| Name of the shareholder | Number of shares held (10,000 shares) | % of total share capital (%) | Change rate (%) |
|---|---|---|---|
| Pu Jiangchuan | 2346.77 | 11.047253 | Unchanged |
| Jiang Weili | 879.53 | 4.140309 | Unchanged |
| He Xin | 770.16 | 3.625466 | Unchanged |
| Liu Baoqi | 512.65 | 2.413288 | Unchanged |
| Zhao Luyang | 203.77 | 0.959252 | Unchanged |
| Zhuzhou SDIC Innovation and Venture Capital Co., Ltd.-Zhuzhou Guochuang Juying Venture Capital Partnership (Limited Partnership) | 187 | 0.880268 | Unchanged |
| Chen Wufeng | 158.98 | 0.748387 | Unchanged |
| Zhao Shichun | 158.7 | 0.747046 | New |
| UBS AG | 145.88 | 0.686741 | New |
| Dacheng ChiNext regularly opens hybrid securities investment funds for two years | 115.83 | 0.545262 | New |
In terms of chip concentration, as of the end of 2022, the total number of shareholders of the company was 8,921, an increase of 541 or 6.46% from the end of the third quarter; The average market value of household holdings rose from 261,100 yuan at the end of the third quarter to 290,500 yuan, an increase of 11.26%.