Text/Leju Finance Yang Kaiyue
On April 22, the share price of Shuai Feng Electric (605336.SH) fell nearly 6 percentage points to close at 13.65 yuan per share, down 5.93%. This day is the day when Shuai Feng Electric discloses its 2023 results.
On April 22, Shuai Feng Electric released its 2023 annual report. During the reporting period, Shuai Feng Electric achieved operating income of 831 million yuan, down 12.23% from the same period of last year, and net profit attributable to owners of the parent company of about 190 million yuan, down 11.51% year-on-year. In 2022, Shuaifeng Electric achieved operating income of 946 million yuan, down 3.2% year-on-year, and net profit attributable to the parent company of 214 million yuan, down 13.08% year-on-year.
During the reporting period, the revenue and net profit of Shuai Feng Electric both declined, and both were double-digit declines. Not only in 2023, historical data shows that in 2022, Shuaifeng Electric's revenue will be 946 million yuan, down 3.2% year-on-year, and its net profit will be 214 million yuan, down 13.08% year-on-year. This means that since the performance of Shuai Feng Electric reached a historical high in 2021, there has been a decline in revenue and net profit for two consecutive years.
Not only the revenue and net profit data, according to the more information disclosed in the financial report, from 2019 to 2023, the ROE (return on net assets) of Shuai Feng Electric was 27.77%, 19.27%, 13.77%, 11.24%, and 9.73% respectively, and decreased by 32.66%, 30.61%, 28.54%, 18.37%, and 13.43% year-on-year, showing five consecutive declines.
Tianyancha disclosed that at present, the legal representative of Shuai Feng Electric is Shang Ruoyun, and the actual controller is Shao Yuji, Shang Ruoyun and Shao Qingxian, of which Shao Yuji's final shareholding ratio is as high as 40.18%, holding the most shares. Shao Yuji is the daughter of Shang Ruoyun and Shao Qingxian, the founders of Shuai Feng Electric Appliances.
In March 2022, nominated by Chairman Shang Ruoyun, 32-year-old Shao Yuji was appointed as the general manager and became the major shareholder today. In 2022, when Shao Yuji took over, the performance of Shuai Feng Electric Appliances will decline in revenue and net profit, and by 2023, the performance of Shuai Feng Electric will further decline.
According to the 2022 annual report of Shuai Feng Electric, Chairman Shang Ruoyun received a total pre-tax remuneration of 545,600 yuan, and Vice Chairman and General Manager Shao Yuji received a total pre-tax remuneration of 885,900 yuan, which was the highest among the management.
According to the latest 2023 financial report disclosed by Shuai Feng Electric, Chairman Shang Ruoyun received a total pre-tax remuneration of 666,400 yuan, Vice Chairman and General Manager Shao Yuji received a total pre-tax remuneration of 800,000 yuan, and Director and Deputy General Manager Shao Xianqing received a total pre-tax remuneration of 710,400 yuan.