TigerResearch/tigerbot-earning-plugin huggingface dataset:
In 2022, the overall oversea trade dropped after the peak in 2021. On the one hand, our main customer, SEB Groupe, was reducing their higher than usual inventories during the year, and as such was limiting its orders to Supor. On the other hand, the foreign customer demand further dropped because of high prices of bulk materials such as aluminum, stainless steel and copper and continuous appreciation of the exchange rate of RMB against USD. In 2022, the overall revenue of foreign trade business decreased by 29.09% year-on-year.
2. Revenues and costs
(1) Structure of operating incomes
|2022||2021|| Increase/decrease YoY (%)
| Amount| Percentage to total operating income| Amount| Percentage to total operating income|
 Total operating income|20,170,527,516.66|100%|21,585,331,407.47|100%|-6.55%
 By industry|||||
 Cookware|6,121,737,273.97|30.35%|6,702,257,811.38|31.05%|-8.66%
 Electric appliances|13,803,483,799.48|68.43%|14,641,378,116.19|67.83%|-5.72%
 Others|245,306,443.21|1.22%|241,695,479.90|1.12%|1.49%
By products|||||
 Cooking appliances|8,506,984,442.90|42.18%|9,034,130,069.36|41.85%|-5.84%
 Food processor appliances|3,086,500,276.55|15.30%|3,563,543,509.79|16.51%|-13.39%
 Cookware and utensils|6,121,737,273.97|30.35%|6,702,257,811.38|31.05%|-8.66%
 Other household electric appliances|2,455,305,523.24|12.17%|2,285,400,016.94|10.59%|7.43%
 By areas|||||
 Domestic sales|14,975,644,970.69|74.25%|14,259,688,624.49|66.06%|5.02%
Export sales|5,194,882,545.97|25.75%|7,325,642,782.98|33.94%|-29.09%
 By sales mode|||||
 Direct sales|2,327,273,967.60|11.54%|1,832,866,623.49|8.49%|26.97%
 Distribution|12,652,370,630.22|62.73%|12,432,653,195.35|57.60%|1.77%
 OEM|5,190,882,918.84|25.73%|7,319,811,588.63|33.91%|-29.08%
Remarks: "Others" by industry, "Other domestic electric appliances" by product, and region-based and sales-based modes exceptionally include other business incomes, the same below.
(2) Industry, product, area or sales mode that accounts for more than 10% of the Company's operating income or operating profit
| Operating income| Operating cost| Gross margin| Increase/decrease YoY (%) for operating income| Increase/decrease YoY (%) for operating cost| Increase/decrease YoY (%) for gross margin
 By industry||||||
 Cookware|6,121,737,273.97|4,277,114,265.06|30.13%|-8.66%|-13.68%|4.06%
 Electric appliances|13,803,483,799.48|10,486,986,687.23|24.03%|-5.72%|-8.56%|2.36%
 By products||||||
 Cooking appliances|8,506,984,442.90|6,446,395,980.91|24.22%|-5.84%|-8.25%|1.99%
 Food processor appliances|3,086,500,276.55|2,477,448,255.92|19.73%|-13.39%|-14.96%|1.48%
Cookware and utensils|6,121,737,273.97|4,277,114,265.06|30.13%|-8.66%|-13.68%|4.06%
 Other household electric appliances|2,455,305,523.24|1,768,370,338.68|27.98%|7.43%|2.40%|3.54%
 By areas||||||
 Domestic sales|14,975,644,970.69|10,734,281,393.12|28.32%|5.02%|3.32%|1.18%
 Export sales|5,194,882,545.97|4,235,047,447.45|18.48%|-29.09%|-32.04%|3.55%
 By sales mode||||||
 Direct sales|2,327,273,967.60|1,327,826,878.46|42.94%|26.97%|23.05%|1.82%
Distribution|12,652,370,630.22|9,410,048,399.91|25.63%|1.77%|1.01%|0.56%
 OEM|5,190,882,918.84|4,231,453,562.20|18.48%|-29.08%|-32.04%|3.55%
If the statistical caliber of the Company's operation business data is adjusted during the reporting period, the main business data for the latest year after the statistical caliber is adjusted.
(3) Practical sales revenue greater than labor income
Industrial classification| Item| Unit|2022|2021| Increase/decrease YoY(%)
 Cookware| Sales volume|pcs/set|71,416,579|87,207,431|-18.11%
| Output|pcs/set|38,865,026|54,282,300|-28.40%
| Stock|pcs/set|10,549,133|13,251,243|-20.39%
 Electrical products| Sales volume|pcs/set|82,690,074|96,246,268|-14.08%
| Output|pcs/set|51,085,806|68,684,534|-25.62%
| Stock|pcs/set|10,182,368|13,030,358|-21.86%
 Total| Sales volume|pcs/set|154,106,653|183,453,699|-16.00%
| Output|pcs/set|89,950,832|122,966,834|-26.85%
| Stock|pcs/set|20,731,501|26,281,601|-21.12%
Descriptions of cause with above 30% change of relevant data on a YoY basis□Applicable  ☑Not applicable
(4) Performance of important sales contracts and purchase contracts signed till this reporting period
(5) Structure of operating costs
Category of industry and product
Industrial classification| Item|2022||2021|| Increase/decrease YoY (%)
|| Amount| Proportion of operating cost| Amount| Proportion of operating cost|
 Cookware| Operating cost|4,277,114,265.06|28.57%|4,955,161,624.35|29.81%|-13.68%
 Electric appliances| Operating cost|10,486,986,687.23|70.06%|11,468,837,009.63|69.00%|-8.56%
 Others| Operating cost|205,227,888.28|1.37%|197,614,526.82|1.19%|3.85%
Category of product| Item|2022||2021|| Increase/decrease YoY (%)
|| Amount| Proportion of operating cost| Amount| Proportion of operating cost|
 Cooking appliances| Operating cost|6,446,395,980.91|43.07%|7,026,157,205.54|42.27%|-8.25%
 Food processor appliances| Operating cost|2,477,448,255.92|16.55%|2,913,355,186.94|17.53%|-14.96%
 Cookware and utensils| Operating cost|4,277,114,265.06|28.57%|4,955,161,624.35|29.81%|-13.68%
 Other household electric appliances| Operating cost|1,768,370,338.68|11.81%|1,726,939,143.97|10.39%|2.40%
(6) Change of merger scope during the reporting period
☑Yes  □No
See "VIII. Change on merger scope" of SECTION X "FINANCIAL STATEMENT" for details.
(7) Important change or adjustment for the Company's businesses, products or services during the reporting period
(8) Main sales customers and suppliers
Total amount of sales to top 5 customers (RMB)|7,371,337,030.15
 Proportion of total amount of sales of top 5 customers in the year's total sales (%)|36.54%
 Proportion for related party's sales amount of sales amount of top 5 customers in annual total sales amount|23.18%
SN| Customer| Sales amount (RMB)| Proportion in the total sales amount of the year (%)
1| SEB S.A. and its subsidiaries|4,676,023,198.91|23.18%
2| Customer 1|1,097,983,191.51|5.44%
3| Customer 2|971,919,851.09|4.82%
4| Customer 3|334,773,987.60|1.66%
5| Customer 4|290,636,801.04|1.44%
 Total|--|7,371,337,030.15|36.54%
Instruction for main customers' other cases□Applicable  ☑Not applicable
Total purchasing value from top 5 suppliers (RMB)|1,438,678,623.26
 Proportion of total purchase amount of top 5 suppliers in the year's total purchasing value|11.52%
 Proportion for related party's purchase amount of purchase amount of top 5 suppliers in annual total purchase amount|0.00%
SN| Supplier| Purchasing value (RMB)| Proportion in the total purchase amount of the year (%)
1| Supplier 1|377,079,036.68|3.02%
2| Supplier 2|327,831,500.57|2.62%
3| Supplier 3|257,127,987.95|2.06%
4| Supplier 4|239,353,204.90|1.92%
5| Supplier 5|237,286,893.16|1.90%
 Total|--|1,438,678,623.26|11.52%
Instruction for main suppliers' other cases□Applicable  ☑Not applicable
3. Costs
|2022|2021| Increase/decrease YoY (%)| Descriptions of major changes
 Sales expenses|2,156,297,058.63|1,909,953,095.54|12.90%|
 Administrative expenses|374,060,640.28|400,779,608.67|-6.67%|
 Financial expenses|-97,423,287.91|-6,482,301.16|-1,402.91%| Mainly due to the increase of deposit interests and exchange gains during the reporting period.
 R&D expenses|416,259,356.99|450,110,510.51|-7.52%|
4. R&D input
Oriented by consumers' demand, the Company engages in R&D of the differential products that meet kitchen demand and local eating and life habits. The Company lays emphasis on R&D investment, boosts technical innovation actively, further explores product category and adds product additional value; respects customer's experience and focuses on all details of consumer use in order to realize safe, environmentally friendly, convenient and fashionable products. R&D expenditure in this year accounts for 5.92% and 2.06% of net assets and operating income audited in the recent period.
|2022|2021| Change proportion
 Quantity of R&D personnel (person)|1,363|1,378|-1.09%
 Proportion of R&D personnel|13.33%|11.64%|1.69%
 Educational background structure of R&D personnel|||
 Bachelor's degree|567|513|10.53%
 Master's degree|53|44|20.45%
 Age composition of R&D personnel|||
<30 years old|381|378|0.79%
30-40 years old|682|709|-3.81%
|2022|2021| Change proportion
 Amount of R&D input (RMB)|416,259,356.99|450,110,510.51|-7.52%
 Proportion of R&D input in total operating income|2.06%|2.09%|-0.03%
 Capitalization amount of R&D input (RMB)|0.00|0.00|0.00%
 Proportion of Capitalization R&D input in R&D input|0.00%|0.00%|0.00%
Cause and influence of major changes of the Company's R&D personnel composition□Applicable  ☑Not applicable
Reason for large change for proportion of total R&D input in operating income compared with that of last year□Applicable  ☑Not applicable
Reason and rational introduction for large capitalization change of R&D input□Applicable  ☑Not applicable
Item|2022|2021| Increase/decrease YoY (%)
 Subtotal of cash inflows from operating activities|23,863,910,846.37|24,022,963,105.23|-0.66%
 Subtotal of cash outflows from operating activities|20,703,955,600.53|21,973,081,536.54|-5.78%
 Net cash flows from operating activities|3,159,955,245.84|2,049,881,568.69|54.15%
 Subtotal of cash inflows from investing activities|3,290,816,398.77|1,599,917,532.89|105.69%
 Subtotal of cash outflows from investing activities|3,762,872,224.32|1,260,464,895.97|198.53%
 Net cash flows from investing activities|-472,055,825.55|339,452,636.92|-239.06%
Subtotal of cash inflows from financing|11,094,652.76|6,308,689.63|75.86%
activities|||
 Subtotal of cash outflows from financing activities|2,776,624,440.47|1,600,215,585.25|73.52%
 Net cash flows from financing activities|-2,765,529,787.71|-1,593,906,895.62|-73.51%
 Net increase in cash and cash equivalents|-47,798,926.68|787,945,760.02|-106.07%
Instruction for main influence factors of relevant data with YoY (%) changed seriously☑Applicable  □Not applicable
1. The net cash flows from operating activities increased by 54.15% year-on-year, mainly due to the cash outflow decrease for goods purchased and laboring services received during the reporting period.
2. The net cash flows from investing activities decreased by 239.06% year-on-year, mainly due to cash outflow increase for investment in financial products and term deposits with maturity more than 3 months during the reporting period.
3. The net cash flows from financing activities decreased by 73.51% year-on-year, mainly due to the dividend expenditure increase in cash outflow of financing activities during the reporting period.
4. The net increase in cash and cash equivalents decreased by 106.07% year-on-year, mainly due to the cash outflow increase in financing activities during the reporting period.
Reason for great change between net cash flow caused by operating activities and annual net profits during the reporting period□Applicable  ☑Not applicable
V. Analysis on Non-main Business
VI. Analysis on Assets and Liabilities
1. Significant changes in assets
| End of 2022|| Beginning of 2022|| Increase/ decrease in proportion| Descriptions of major changes
| Amount| Percentage to total assets| Amount| Percentage to total assets||
 Monetary capital|3,563,140,907.75|27.51%|2,654,052,417.47|19.09%|8.42%| Mainly due to cash flow increase from the Company's operating activities during the reporting period.
 Accounts receivable|1,926,518,118.38|14.87%|2,716,945,985.33|19.55%|-4.68%| Mainly due to the export accounts receivable decrease at the end of the reporting period.
 Inventories|2,494,922,856.42|19.26%|3,096,517,055.33|22.28%|-3.02%| Mainly due to the reasonable control of inventory during the reporting period.
 Long-term equity investment|62,196,139.53|0.48%|65,600,611.64|0.47%|0.01%| No significant change during the reporting period.
 Fixed assets|1,303,075,391.03|10.06%|1,291,902,992.54|9.29%|0.77%| No significant change during the reporting period.
Construction in progress|12,005,654.73|0.09%|26,482,779.31|0.19%|-0.10%| No significant change during the reporting period.
 Right-of-use assets|190,718,962.82|1.47%|195,528,644.13|1.41%|0.06%| No significant change during the reporting period.
 Contract liabilities|1,153,932,879.53|8.91%|893,741,863.21|6.43%|2.48%| Mainly due to the increase in advance payments from some distributors by subsidiaries during the reporting period.
 Lease obligation|150,779,916.58|1.16%|157,420,210.81|1.13%|0.03%| No significant change during the reporting period.
 Receivables financing|235,957,044.34|1.82%|3,312,225.62|0.02%|1.80%| Mainly due to the increase in the amount of bank acceptance bills of subsidiaries at the end of the reporting period.
 Other current assets|450,986,016.76|3.48%|2,055,027,382.63|14.78%|-11.30%| Mainly due to the maturity and delivery of term deposit investment at the end of the reporting period.
 Other debt investment|1,024,794,890.43|7.91%|298,191,205.49|2.15%|5.76%| Mainly due to the increase of negotiable certificates of deposit at the end of the reporting period.
High proportion of overseas assets□Applicable  ☑Not applicable
2. Assets and liabilities measured at the fair value
Item| Opening balance| Profit and loss from fair value changes in the current period| Accumulated fair value changes included into equity| Impairment loss of the current period| Amount of purchasing of the current period| Amount of selling of the current period| Other changes| Closing balance
 Financial assets||||||||
1. Transactional financial assets(excluding derivative financial assets)|180,312,742.31|5,768,586.86|||550,000,000.00|304,698,801.38||431,382,527.79
2. Receivables financing|3,312,225.62||||||232,644,818.72|235,957,044.34
3. Other debt investments|298,191,205.49||||845,344,912.23|105,140,393.12|18,556,700.08|1,056,952,424.68
 Total|481,816,173.42|5,768,586.86|||1,395,344,912.23|409,839,194.50|251,201,518.80|1,724,291,996.81
 Financial liabilities|0.00|0.00|||0.00|0.00|0.00|0.00
Content of other changes
Receivables financing: As the demand of daily fund management, the Company will discount or transfer an endorsed bill, the business mode of related bank acceptance bill including not only collect contract cash flow but sales as the target, so reclass the bank acceptance bill as financial assets measured at the fair value with their changes included into other comprehensive incomes.
Other debt investment:Supor's business model of managing negotiable large deposit certificates is both to collect the contract cash flow and to sell the negotiable large deposit certificates, which are classified as financial assets measured at fair value and whose changes are included in other comprehensive income. Interest income is accrued according to the effective interest rate method during the expected duration.
Are there any major changes about the valuation attribute of Company's main assets during the reporting period?□Yes  ☑No
3. Restrictions of assets and rights by the end of reporting period
See 53. "Assets with title or use right restrictions", VII "Notes to items of consolidated financial statements", SECTION X "FINANCIAL REPORT" for details.
VII. Investment Situation Analysis
1. General condition
2. Significant equity investment to be acquired during the reporting period
3. Significant non-equity investment to be handled during the reporting period
(1) Conditions of the securities investment
The Company involves no securities investment during the reporting period.
(2) Derivative investment
1) Hedging derivative investment during the reporting period
Derivative investment type| Initial investment amount| Profit and loss from fair value changes in the current period| Accumulated fair value changes included into equity| Purchase amount during the reporting period| Sales amount during the reporting period| Closing balance| Proportion of investment amount at the end of the period in the Company's net assets at the end of the reporting period
 Bank- foreign exchange derivative instruments|14,790.55|995.28|0|140,267.02|150,313.35|4,744.22|0.67%
 Total|14,790.55|995.28|0|140,267.02|150,313.35|4,744.22|0.67%
Explanation on whether the Company's accounting policies and specific accounting principles of hedging business have significantly changed during the reporting period compared with the previous reporting period| The company recognizes, measures, and presents in accordance with Accounting Standards for Business Enterprises No. 22 -- Recognition and Measurement of Financial Instruments, Accounting Standards for Business Enterprises No.24- Hedging, and Accounting Standards for Business Enterprises No.37- Presentation of Financial Instruments. There are no significant changes compared to the previous reporting period.
 Explanation on realized gains and losses during the reporting period| During the reporting period, the company conducted derivative transactions and fair value hedging in accordance with the variety and duration determined by the Board of Directors. During the reporting period, the amount included in the current profit and loss was 9.9528 million yuan, and the amount included in equity was 0 yuan. The amount of profit or loss is entirely derived from the net fair value change formed by the forward settlement of foreign exchange and the hedged item. During the reporting period, our company did not engage in foreign exchange swap business, with no profit or loss or equity impact.
 Explanation on hedging effect| The value of hedging tools of our Company changed inversely to that of hedged foreign exchange accounts receivable and payable, effectively achieving the risk management objectives. During the reporting period, the Company conducted assessment on the fluctuation of the value of foreign exchange accounts receivable and payable, and signed forward exchange contracts with banks in the same currency. Such hedging tool was one of those approved by the Board of Directors. The execution complied with the internal control requirements and operated within the approved quota to ensure that the hedging tools match the hedged items in the scale, term, and currency.
 Capital source of derivative investment| Self-owned capital
Changes in market prices or product fair values of| The delivered foreign exchange derivatives were recorded as the profit and loss with instruments by our Company. Changes in the fair value of undelivered foreign exchange derivatives were evaluated by the comparison between
invested derivatives during the reporting period, specific methods used for analysis of the fair value of derivatives and the setting of related assumptions and parameters|the exchange rate of the derivative contract and the corresponding forward foreign exchange quotation provided by the contracting bank at the end of the period.
 Litigation-related situation(if applicable)| Not applicable
 As for approval of derivative investment, the Board of Directors will announce disclosure date (if any)| April 1, 2022
 Special opinion on situations of the Company's derivative investment and risk control from independent directors| The independent directors have released the independent opinions about the Proposal for Implementation of the Foreign Exchange Derivative Transaction Business of the Company, the details of which are shown in the Independent Opinion of Independent Directors on Relevant Matters disclosed in http://www.cninfo.com.cn on April1, 2022.
2) Speculation derivative investment during the reporting period
During the reporting period, there was no speculative investment on derivatives.
5. Application of capital raised
No capital raised was used in reporting period
VIII. Sales for major assets and equity
1. Sales for major assets
The Company did not sell major assets till the end of the reporting period.
2. Sales for major equities
IX. Analysis for Main Holding Companies and Joint Stock Companies
Status of main subsidiaries and joint stock companies with influence on the Company's net profit exceeding 10%
Company name| Company type| Main business| Registered capital| Total assets| Net assets| Operating income| Operating profit| Net profit
 Wuhan Supor Cookware Co., Ltd.| Subsidiary| Cookware| RMB 91.16 million|1,230,265,524.10|324,246,136.60|3,371,269,904.20|139,860,750.29|105,359,801.51
 Zhejiang Supor Electrical Appliances Manufacturing Co., Ltd.| Subsidiary| Electrical products| RMB133.6971 million|1,480,071,463.87|372,779,119.70|3,771,989,629.93|155,838,593.92|117,609,671.31
 Zhejiang Shaoxing Supor Domestic Electrical Appliances Co., Ltd.| Subsidiary| Small domestic appliances, kitchen appliances| RMB610 million|2,621,794,128.67|1,899,174,648.33|5,838,977,709.44|1,084,929,408.78|943,463,674.32
Subsidiary obtaining and disposal details during the reporting period|
☑Applicable|□Not applicable
Company name| Subsidiary obtaining and disposal mode during the reporting period| Influence on overall production, operation and performance
 Shanghai SEB Electrical Appliances Co., Ltd.| Cancellation| No influence on overall production, operation and performance
X. Structural Subject under the Company's Control
XI. Prospects for Future Development
1. Future development strategy and operation plan of the Company
As a new development pattern with domestic circulation as the core is constructed, under which domestic and international circulations reinforce each other, the policies of expanding domestic demand and promoting consumption will continue to take effect. The strong magnetic force of China's enormous domestic market remains unchanged, where the middle class and youngsters boost consumption growth constantly. It is predicted that the consumption will resume in 2023, and consumers will pay more attention to healthy and high-quality life, which will become a trend of industrial evolution and consumption upgrade in the future.
The Company will persistently implement the predefined strategies and guidelines, with the consumers' demand as the orientation, constantly promote the product innovation strategy and quality product strategy, and further give play to the competitive advantages of the Company in the kitchenware sector in terms of diversified brands and product categories. It will take advantage of the consumption upgrade opportunity, cultivate new businesses and new product categories, promote the development of segment categories, and meet the diversified consumption demand.
In terms of channels, the Company will make constant efforts to promote online channel renovation, consolidate and expand the achievements of reforms, give full play to the professionalism and flexibility under the diversified business modes, and further improve the direct sale capacity of e-commerce. It will expand the first-mover advantage of the social e-commerce platform, and improve the scale and profitability; make the cooperation with major operators and resource utilization more efficient; innovate promotion patterns, thereby continuously expanding its online sales and market share; continue improving the service level and efficiency in the major retail systems in China and in international shopping market offline to strive to become the strategic supplier of more key retail channels, continuously explore the third and fourth markets, further enhance the cooperation with e-commerce platforms on the O2O channels, and expedite the penetration into markets in lower-tier cities.
In terms of brand building, the Company will comprehensively update the visual brand image, e-commerce packaging image, and terminal image in line with the new brand positioning, and strengthen the communication and connection between the brand and consumers, so as to enhance the brand competitiveness. Through deepening the insight into the young generation, the Company will launch products that are more fitting with their aesthetic and usage requirements, create more competitive product series such as kitchen utensils for solo dining and other young and high-end ones to cover more young consumers and promote the brand development. We will continue to explore digital marketing, improve the quality of content marketing and the efficiency of attracting traffic through advertising, and increase the success rate of newly launched products. The Company will create a WeChat Member Shop to strengthen the consumer life time and user viscosity through exclusive member services, and improve the operational efficiency of private traffic to form a closed loop.