On March 31, the company's 2022 annual results conference was successfully held at the Grand Hyatt Hotel in Hong Kong. Lv Guo, the company's executive director and chief executive officer, and Han Liming, the company's chief financial officer, attended the meeting and had in-depth exchanges with institutional analysts and investors on the company's 2022 business performance and development plan. First of all
, Lv Guo, on behalf of Chairman Peng Shou of the board of directors of the company, expressed warm welcome and heartfelt thanks to all the guests who came to the scene. He pointed out that facing the complex and changeable external environment in 2022, the company is facing difficulties, solid operation and steady progress. The company's "going out" strategy has achieved remarkable results and made phased breakthroughs, Nigerian and Italian companies have maintained strong performance growth, Kazakhstan's production line has successfully led the board, setting up a new model of "the Belt and Road". At the same time, the company actively laid out the "three new" areas, giving full play to the leading position of China Glass in the field of coated glass with independent intellectual property rights and complete technology. Suqian photovoltaic glass production line, Dongtai online TCO coated glass production line and off-line Low-E coated glass production line have been successfully ignited and put into operation. In addition, the company has tapped its potential, achieved tangible results in the work of "reducing costs and increasing efficiency", and steadily improved its production and operation capacity.
Lv Guo introduced the company's work priorities in the next step: First, give full play to the advantages of market-oriented and international platforms, strengthen international production capacity cooperation, explore potential investment opportunities along the "the Belt and Road" and other regions, and enhance the contribution of overseas performance; Secondly, we should actively expand the industrial field of "new glass, new materials and new energy", promote the upgrading of industrial structure, actively pay attention to more opportunities emerging in the new energy track, and promote the growth of performance; Thirdly, we should fully grasp the development situation of the industry, do a good job in the transformation and upgrading of float glass differentiation, specialization and intellectualization, continue to deepen the "benchmarking management" and performance incentives, and comprehensively improve the comprehensive management level.
Han Liming introduced the industry situation in 2022 and the company's annual performance and other related financial data. He pointed out that in recent years, with the deepening of domestic supply-side structural reform, the flat glass industry tends to develop steadily for a long time. In the past year, the performance of China's real estate market has been weak, the repair of the completed end of the real estate has fallen short of expectations, the pressure on the demand for flat glass has led to low prices, the cost of raw materials and fuels has risen, and the profit margin has been squeezed in both directions. In 2022, the company achieved operating income of 4.327 billion yuan and gross profit of 638 million yuan. Among them, overseas revenue was 1.2 billion yuan, up 50% year-on-year, gross profit margin of overseas business increased by 8 percentage points to 42% year-on-year, and business performance maintained growth. In the future, with the marginal improvement of the national real estate policy, the upward trend of raw fuel cost is limited, and the effective implementation of the company's next development strategy, the overall performance is expected to reach a new level.
Finally, the management of the Company had in-depth exchanges on the industry prospects in 2023, the Company's major development strategies, new energy and TCO glass operations, future overseas layout and other issues of concern to investors, and expressed sincere thanks to the analysts and investors who have long cared about and supported the development of the Company. More than a dozen institutions, industry analysts and investors who have long been concerned about the company,
including CICC and Morgan Stanley, attended the meeting.
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