TigerResearch/tigerbot-earning-plugin huggingface dataset:
||| Stage 1||| Stage 3||
|12-month ECL (group)||12-month ECL (individual)|| Sub-total| Lifetime ECL (credit impaired)|| Total
| Book balance| Provision for bad debts| Book balance| Provision for bad debts| Provision for bad debts| Book balance| Provision for bad debts| Provision for bad debts
31 December 2021|2,558,592|(151,437)|413,583,411|-|(151,437)|-|-|(151,437)
 Increase in the current year|6,752,837|(100,849)|146,877,178|-|(100,849)|-|-|(100,849)
 Reversal in the current year|(1,453,211)|33,244|-|-|33,244|-|-|33,244
31 December 2022|7,858,218|(219,042)|560,460,589|-|(219,042)|-|-|(219,042)
As at 31 December 2022 and 31 December 2021, the Company did not have other receivables at Stage 2 or Stage 3. Other receivables at Stage 1 are analysed below:
(i) As at 31 December 2022, other receivables at Stage 1 for which the related provision for bad debts
| Book balance|12-month ECL rates| Provision for bad debts| Reason
 Entrusted loans receivable|487,000,000|-|-| The counterparty is the Company’s subsidiary with a historical loss rate of 0%; therefore, the risk of ECL is extremely low.
 Supplementary medical insurance fund receivable|44,006,139|-|-| The counterparty is Taikang Pension, which provides custody services to the Company’s supplementary medical insurance fund; therefore, the risk of ECL is extremely low.
 Receivables from related parties|29,454,450|-|-| The counterparty is a related party, with a historical loss rate of 0% ; therefore, the risk of ECL is extremely low.
|560,460,589||-|
As at 31 December 2021, other receivables at Stage 1 for which the related provision for bad debts was provided on the individual basis are analysed as follows:
| Book balance|12-month ECL rates| Provision for bad debts| Reason
 Entrusted loans receivable|100,000,000|-|-| The counterparty is the Company’s subsidiary with a historical loss rate of 0%; therefore, the risk of ECL is extremely low.
 Supplementary medical insurance fund receivable|39,346,861|-|-| The counterparty is Taikang Pension, which provides custody services to the Company’s supplementary medical insurance fund; therefore, the risk of ECL is extremely low.
 Receivables from related parties|274,236,550|-|-| The counterparty is a related party, with a historical loss rate of 0%; therefore, the risk of ECL is extremely low.
|413,583,411||-|
(ii) As at 31 December 2022, other receivables at Stage 1 for which the related provision for bad debts
||31 December 2022|
| Book balance| Loss provision|
 Group 1 Within 1 year| Amount| Amount| Provision ratio
|6,752,837|(19,060)|0.28%
1 to 2 years|784,602|(39,871)|5.08%
2 to 3 years|229,526|(68,858)|30.00%
 Over 3 years|91,253|(91,253)|100.00%
|7,858,218|(219,042)|2.79%
As at 31 December 2021, other receivables at Stage 1 for which the related provision for bad debts was provided on the collective basis are analysed as follows:
||31 December 2021|
| Book balance| Loss provision|
 Group 1 Within 1 year| Amount| Amount| Provision ratio
|2,029,378|(16,388)|0.81%
1 to 2 years|437,961|(43,796)|10.00%
 Over 3 years|91,253|(91,253)|100.00%
|2,558,592|(151,437)|5.92%
(c) As at 31 December 2022, the five largest amounts of other receivables aggregated by debtors are
Shaoguan Power Plant| Nature| Balance| Ageing|% of total balance| Provision for bad debts
| Entrusted loans|337,215,234| Within 1 year|59.34%|-
 Lincang Energy| Entrusted loans|81,280,564| Within 1 year|14.30%|-
 Jiuzhou New Energy| Entrusted loans|70,073,792| Within 1 year|12.33%|-
 Taikang Pension| Supplementary medical insurance fund receivable|44,006,139| Within 2 years|7.74%|-
 Yudean Environmental| Receivables from sale of by-products|22,721,897| Within 1 year|4.00%|-
 Long-term equity investments||555,297,626||97.71%|-
||31 December 2022||31 December 2021|
 Subsidiaries (a)|||35,870,036,063||30,519,715,049
 Joint ventures (b)|||865,576,323||804,769,245
 Associates (c)|||7,519,839,714||6,659,945,716
 Less: Long-term equity investments - provision for impairment of subsidiaries (a)|||(2,449,328,079)|(1,348,124,079)|
 Long-term equity investments - provision for impairment of associates (c)|||(96,327,854)||(96,327,854)
|||41,709,796,167||36,539,978,077
|31 December2021| Increase in investments| Decrease in investments| Provision for impairment|31 December2022| Ending balance of provision for impairment loss| Declared cash dividends during the year
 Zhanjiang Electric|2,185,334,400|-|-|-|2,185,334,400|-|-
 Yuejia Electric|-|-|-|-|-|(455,584,267)|-
 Maoming Thermal|687,458,978|-|-|-|687,458,978|-|-
 Jinghai Power|1,930,395,668|520,000,000|-|-|2,450,395,668|-|-
 Zhongyue Energy|963,000,000|-|-|-|963,000,000|(187,248,115)|-
 Humen Electric|3,192,416|-|-|-|3,192,416|(86,807,584)|-
Technology Engineering Company|20,000,000|-|-|-|20,000,000|-|5,155,800
 Bohe Energy|3,167,000,000|321,600,000|-|-|3,488,600,000|-|-
 Pinghai Power|720,311,347|-|-|-|720,311,347|-|-
 Red Bay Power|2,220,023,386|-|-|-|2,220,023,386|-|-
 Huizhou Natural Gas|1,205,199,446|-|-|-|1,205,199,446|-|51,112,064
 Guangqian Electric|1,353,153,223|-|-|-|1,353,153,223|-|-
 Shaoguan Power Plant|1,101,203,999|-|-|(1,101,203,999)|-|(1,509,698,674)|-
Huadu Natural Gas|186,550,000|-|-|-|186,550,000|-|-
 Dabu Electric|1,040,000,000|867,100,000|-|-|1,907,100,000|-|-
 Sub-total for next page|16,782,822,863|1,708,700,000|-|(1,101,203,999)|17,390,318,864|(2,239,338,640)|56,267,864
Subtotal brought forward|31 December2021| Increase in investments| Decrease in investments| Provision for impairment|31 December2022| Ending balance of provision for impairment loss| Declared cash dividends during the year
|16,782,822,863|1,708,700,000|-|(1,101,203,999)|17,390,318,864|(2,239,338,640)|56,267,864
 Guangdong Wind Power|6,872,556,260|832,000,000|-|-|7,704,556,260|-|-
 Power Sales|230,000,000|-|-|-|230,000,000|-|47,181,475
 Lincang Energy|281,000,000|-|-|-|281,000,000|(209,989,439)|-
 Yongan Natural Gas|180,000,000|180,000,000|-|-|360,000,000|-|-
 Binhai Bay Company|620,000,000|100,000,000|-|-|720,000,000|-|-
Daya Bay Company|145,600,000|84,729,500|-|-|230,329,500|-|-
 Qiming|20,000,000|18,000,000|-|-|38,000,000|-|-
 Huaguoquan Company|49,680,900|-|-|-|49,680,900|-|2,833,534
 Dananhai Company|15,000,000|156,000,000|-|-|171,000,000|-|-
 Baihua Company|3,000,000|-|-|-|3,000,000|-|-
 Sha C Company|1,559,120,782|-|-|-|1,559,120,782|-|-
 Yunhe Power|1,066,562,327|-|-|-|1,066,562,327|-|-
Yuehua Power|541,247,838|-|-|-|541,247,838|-|-
 Bijie New Energy|5,000,000|9,500,000|-|-|14,500,000|-|-
 Tumxuk Thermal Power|800,000,000|-|-|-|800,000,000|-|-
 Shaoguan New Energy|-|33,473,000|-|-|33,473,000|-|-
 Tumxuk Hanhai|-|324,050,000|-|-|324,050,000|-|-
 Jinxiu Integrated Energy|-|2,621,800|-|-|2,621,800|-|-
 Sub-total for next page|29,171,590,970|3,449,074,300|-|(1,101,203,999)|31,519,461,271|(2,449,328,079)|106,282,873
Subtotal brought forward|31 December2021| Increase in investments| Decrease in investments| Provision for impairment|31 December2022| Ending balance of provision for impairment loss| Declared cash dividends during the year
|29,171,590,970|3,449,074,300|-|(1,101,203,999)|31,519,461,271|(2,449,328,079)|106,282,873
 Jinchang Mujin|-|120,495,920|-|-|120,495,920|-|-
 Jinchang Muhong|-|120,495,920|-|-|120,495,920|-|-
 Huibo New Energy|-|15,492,360|-|-|15,492,360|-|-
 Xingyue New Energy|-|9,977,500|-|-|9,977,500|-|-
 Maoming Natural Gas|-|115,345,000|-|-|115,345,000|-|-
Huixin Thermal Power|-|104,975,000|-|-|104,975,000|-|-
 Dongrun Zhongneng|-|45,063,020|-|-|45,063,020|-|-
 Shache Integrated Energy|-|1,206,110,470|-|-|1,206,110,470|-|-
 Xinguangyao New Energy|-|32,923,000|-|-|32,923,000|-|-
 Luoding New Energy|-|1,844,520|-|-|1,844,520|-|-
 Jiuzhou New Energy|-|39,000,000|-|-|39,000,000|-|-
 Changshan Wind Power|-|89,524,003|-|-|89,524,003|-|-
Total|29,171,590,970|5,350,321,013|-|(1,101,203,999)|33,420,707,984|(2,449,328,079)|106,282,873
Relevant information of the Company’s subsidiaries is set out in Note 6(1)(a).
(i) As at 31 December 2022, the accumulated losses of Shaoguan Power Plant amounted to RMB 2,917,780,188. The Company tested the recoverable
amounts of the long-term equity investments in Shaoguan Power Plant and made a provision for impairment of RMB 1,101,203,999 accordingly.
|| Movements for the current year||||
31 December 2021| Increase in investments| Share of net profit/(loss) under equity method| Share of other comprehensive income| Cash dividends declared|31 December 2022| Ending balance of provision for impairment loss
804,769,245|-|60,807,078|-|-|865,576,323|-
Industry Fuel
|||| Movements for the current year||||| Ending balance of provision for impairment loss
|31 December2021| Increase in investments| Decrease in investments| Share of net profit/(loss) under equity method| Share of other comprehensive income| Share of other changes in equity| Cash dividends declared|31 December2022|
 Taishan Electric|1,784,468,086|-|-|116,886,446|-|-|-|1,901,354,532|-
 Shanxi Yudean Energy|2,363,177,253|130,000,000|-|526,175,689|-|-|-|3,019,352,942|-
 Energy Group Finance Company|1,046,702,914|-|-|94,769,170|6,211,682|-|(77,434,193)|1,070,249,573|-
 Yudean Shipping|247,954,895|-|-|26,726,321|1,855,914|636,197|-|277,173,327|-
 GEG Property Insurance|276,532,777|-|-|11,597,609|-|-|(2,426,770)|285,703,616|-
Weixin Yuntou|138,810,051|-|- (52,510,020)||-|-|-|86,300,031 (96,327,854)|
 Energy Financial Leasing Company|532,306,787|-|-|23,242,646|-|-|(18,292,179)|537,257,254|-
 Yueqian Power|161,325,870|-|-|70,648,616|-|-|-|231,974,486|-
 Others|12,339,229|-|-|2,389,184|-|-|(582,314)|14,146,099|-
|6,563,617,862|130,000,000|-|819,925,661|8,067,596|636,197|(98,735,456)|7,423,511,860 (96,327,854)|
|2022|2021
 Revenue from main operations|1,483,048,324|1,522,773,313
 Revenue from other operations|50,218,658|71,049,232
|1,533,266,982|1,593,822,545
|2022|2021
 Cost of sale from main operations|1,848,107,659|1,910,172,008
 Cost of sale from other operations|1,667,069|1,779,127
|1,849,774,728|1,911,951,135
||2022|||2021|
| Revenue from sale of electricity| Revenue from main operations|| Cost of sale from main operations| Revenue from main operations| Cost of sale from main operations
||1,483,048,324|1,848,107,659||1,522,773,313|1,910,172,008
(b)| Revenue and cost of sale from other operations||2022||2021|
| Revenue from integrated utilisation of coal ash| Revenue from other operations|| Cost of sale from other operations| Revenue from other operations| Cost of sale from other operations
||30,835,280||-|31,187,580|-
| Rental income|11,653,863||1,037,124|13,524,618|1,010,171
| Others|7,729,515||629,945|26,337,034|768,956
||50,218,658||1,667,069|71,049,232|1,779,127
(4) Revenue and cost of sale (Cont’d)
Sale of electricity and coal ash|2022||
 Revenue from main operations| Rental| Others| Total
 Including: Recognition at a point in time 1,483,048,324|||1,483,048,324
 Revenue from other operations|||
 Including: Recognition at a point in time 30,835,280|-|6,031,402|36,866,682
 Recognised over a period of time -|-|1,698,113|1,698,113
 Rental income -|11,653,863|-|11,653,863
1,513,883,604|11,653,863 2021|7,729,515|1,533,266,982
 Revenue from main operations  Sale of electricity and coal ash| Rental| Others| Total
 Including: Recognition at a point in time 1,522,773,313|-|-|1,522,773,313
 Revenue from other operations|||
 Including: Recognition at a point in time 31,187,580|-|19,526,298|50,713,878
 Recognised over a period of time -|-|6,810,736|6,810,736
 Rental income -|13,524,618|-|13,524,618
1,553,960,893|13,524,618|26,337,034|1,593,822,545
As at 31 December 2022, the Company had no performance obligation that had been contracted but not yet fulfilled.
Investment income|2022|2021
 Investment income from long-term equity investments under equity method|880,732,739|697,838,523
 Income from long-term equity investments under cost method|106,282,873|1,632,390,475
 Dividend income earned during the holding period of investments in other equity instruments|101,262,589|87,731,408
 Interest income from entrusted loans|26,780,747|27,667,677
 Recognised investment income from equity replacement|-|973,426,650
|1,115,058,948|3,419,054,733
There was no significant restriction on remittance of investment income of the Company.
|2022|2021
 Impairment of long-term equity investments|1,101,203,999|-
 Impairment of fixed assets|-|29,321,084
|1,101,203,999|29,321,084
Statement of non-recurring profit or loss|2022|2021
 Net profit or loss of the subsidiaries acquired in business combinations involving enterprises under common control for the period from the beginning of the period to the combination date|-|(658,714,842)
 Government grants recognised in profit or loss for the current period|51,267,272|37,606,578
 Gains on scrapping of non-current assets|47,885,412|95,182,637
 Gains on disposals of non-current assets|30,802,837|82,842,178
 Waived payables|20,398,517|3,896,128
 Compensation for electricity charges during the demolition and construction period|6,533,120|18,040,851
Provision for asset impairment losses due to natural disasters|(83,358,694)|-
 Losses on scrapping of non-current assets|(73,508,692)|(24,792,577)
 Penalties and overdue fines|(59,233,310)|(5,756,168)
 Other non-operating income and expenses other than aforesaid items|46,299,376|13,083,044
|(12,914,162)|(438,612,171)
 Effect of income tax|(38,582,624)|(55,885,342)
 Impact on minority interests (after tax)|(15,662,748)|252,056,993
|(67,159,534)|(242,440,520)
Pursuant to the Explanatory Announcement for Information Disclosure of Companies Offering Securities to the Public No. 1 - Non-recurring Profit or Loss (2008) issued by the China Securities Regulatory Commission, non-recurring profit or loss refers to profit or loss arising from transactions and events those are not directly related to the Company’s normal course of business, also from transactions and events those even are related to the Company’s normal course of business, but will interfere with the right judgement of users of the financial statements on the Company’s operation performance and profitability due to their special nature and occasional occurrence.
Non-recurring profit or loss items defined according to the definition of non-recurring profit or loss and non-recurring profit or loss items listed which are defined as recurring profit and loss items are as follows:
| Amount of 2022| Reasons for regarding as recurring
 VAT refund upon collection|28,893,040| Constant occurrence, conforming to national policies and regulations
 Carbon emission allowances used to fulfil the emission reduction obligation|(306,786,693)| Constant occurrence, conforming to national policies and regulations
|||| Earnings per share||
| Rate of return on weighted average net assets (%)|| Basic earnings per share|| Diluted earnings per share|
|2022|2021|2022|2021|2022|2021
 Net profit attributable to ordinary shareholders of the Company||(Restated)||(Restated)||(Restated)
|(13.77)%|(9.94)%|(0.57)|(0.56)|(0.57)|(0.56)
 Net profit attributable to ordinary shareholders of the Company after deduction of non- recurring profit or loss|(13.46)%|(10.41)%|(0.56)|(0.51)|(0.56)|(0.51)
Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd. Abstract of the Annual Report 2022
Section I Important Statements
This is an abstract of the Annual Report 2022. Investors are suggested to read the complete version of the Annual Report 2022 on the media, which is designated by the China Securities Regulatory Commission(the “CSRC”) to have a full understanding of operational results, financial statements, and future plans of the Company. Should there  be any inconsistency between the Chinese version and English version, the Chinese version shall prevail.
Modified Audit Opinion
□Applicable  √N/A
The preliminary plan for dividend distribution and converting capital reserves into share capital for commo n shareholders which were considered and approved by the Board
√Applicable  □N/A
Convert capital reserves into share capital
The Board has considered and approved the following dividend payout plan for the Reporting Period: based on the
Company's total shares of 767,017,000, and deducting the 4,000,000 shares repurchased by the Company, it is proposed that, based on a total of 763,017,000 shares, the Company should distribute a cash dividend of RMB 3.0 (tax inclusive) and 0 stock dividend (tax inclusive) per 10 shares to all the shareholders and should not convert capital reserves into share capital.
The preliminary plan for dividend distribution for preferred shares in the reporting period was approved by the Board
Section II Company Profile
Stock Abbreviation| Joyoung| Stock Code|002242
 Stock Exchange Where the Shares of the Company are Listed| Shenzhen Stock Exchange||
 Contact Us| Board Secretary| Securities Representative|
 Name| Minxin MIAO||
 Address| No.760 Yinhai Street, Jianggan District, Hangzhou, Zhejiang Province||
 Tel.|0571-81639178||
 E-mail|002242@joyoung.com||
2. Business or Product Review in the Reporting Period
1) Small Home Appliance Industry in the Reporting Period
In 2022, China’s Gross domestic product (GDP) exceeded 120 trillion yuan, an increase of 3% year-over-year despite multiple uncontrollable factors both at home and abroad. Among the world's major economies, China is the only one who achieved economic growth.
Last year was a milestone in the history of the Communist Party of China (CPC) and our country. We convened the 20th National Congress of the CPC successfully and drew up a grand blueprint for comprehensively building a modern socialist country. Confronted with the complex and unpredictable international situation and arduous domestic tasks of continuing reform and development and maintaining stability, the entire Party and the Chinese people of all ethnic groups rose to the challenge and worked together. With their energy, overall econom ic stability was maintained and a new chapter in the development of socialist modernization, reform and opening up was wrote under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core.
Small home appliance industry has witnessed a whole process of upgrading and change including concept, manufacturing technology, sales channels and brand culture during the positive interplay between domestic and international economic flows.
According to AVC, the retail sales of kitchen small appliances including rice cooker, induction cooker, electric pressure cooker, soymilk maker, blender, electric mixer, juicer, electric kettle, frying machine, health pot, electric steam stew pot, tabletop single function oven, air fryer was 52.03 billion yuan, down 6.7% year-on-year while retail volume was 220.49 million units, down 12.7% year-on-year. Among which, the online market retail sales was 38.60 billion yuan, down 2.9% year-on-year and offline market retail sales was 13.43 billion yuan, down 16.0% year-on-year, but the average price of online and offline retail sales increased by 4.5% and 9.7% yoy respectively.
It shows that consumers' demand has changed from "0" to "1" to "1" to "N", and they are willing to pay a reasonable premium for higher quality, high value and easy-to-use products. For brand side, launching new and high-end products to stimulate consumers’demand seems to be an inevitable way to go amid growing signs of rebounding consumer environment. In 2022, international commodity prices were still at a high level, bringing pressure on the production costs of companies. The rapid changes of the industry including the recovering offline market and fragmented online channel traffic also posed great challenges to the Company.
As a leading company in the domestic small home appliance industry, the Company will continue to focus on its main business, firmly establish its strategy, protect its own intellectual property rights and continue to innovate and break through in order to stand in the forefront of the industry.
2) Major business Engaged by the Company in the Reporting Period
In the Reporting Period, the Company continued to focus on the R&D, production, and sales of small household appliances. The Company mainly operated independent R&D, design, sales, and self-owned brands. With the consumers’ increasingly strong desire for a better and quality life and the promotion of consumption upgrade, consumer demands for refined, and user-friendly products of high quality continued to grow.
In the Reporting Period, no significant changes occurred to the Company's primary business. The Company was in the mature period without visible cyclical features. Major product categories of the Company all ranked the top 3 across the industry domestically in China.
3) Core Competence Analysis a. Brand Advantage
As a leader in the small home appliance industry, the Company has been focusing on the R&D, production and sales of kitchen appliances for 29 years, with well-known brand image in the industry and beyond contributed by its established strategic partnership with top suppliers and distributors, enhanced R&D strength and excellent industry reputation.
Adhering to the brand concept of "Healthy and Enjoyable", the Company strived to promote the rejuvenation of the brand and bring products into the lives of young people in the new era through various original innovation-driven technologies. The Company mainly offered categories includ ing soymilk maker, blender, rice cooker, air fryer, cookware, water purifier, electr ic steamer, boiling water pot, noodle maker, etc, some of these products continue to lead in the industry.
Established in Boston in 1998, Shark, a brand that excels in cleaning technology, now ranks top 1 in the sales of cleaning appliances in the United States. Shark China, a wholly-owned subsidiary of the Company is mainly responsible for the brand promotion and marketing of Shark brand in China, as well as the localization of product development and implementation, dedicated to the Chinese family custom ized multi-category household cleaning small appliances product solutions. It has wet and dry vacuum cleaner, foldable vacuum cleaner, robot vacuum, steam mop, electric mop, and hand-held vacuum.
b. Channel Advantage
The Company was deeply involved in the small home appliance industry for many years, mainly adopting the distribution system with distributor networks and customer resources nationwide. The Company offered customer-centric experience and scenarios, that is, to demonstrate products and food preparation to customers no matter via online or offline platforms.
In 2022, the domestic e-commerce platform landscape accelerated its evolution. The Company's traditional e-commerce business achieved steady development, and the content e-commerce channel represented by Tiktok grew at a high speed, and its marketing through short videos and live streaming effectively increased the use and purchase frequency of small kitchen appliances. These emerging communication and sales channels can better convey the great appearance, high-tech functions and better using experience of small home appliances to consumers, and provide a more suitable carrier for the synergistic development of the Company's online and offline business, as well as put forward higher requirements and targets. In the face of the rapid development of content e-commerce, the Company further increased its attention to and investment in media platforms such as Tiktok, Xiaohongshu, Weibo and WeChat, and laid out and expanded corresponding online brand flagship stores and live broadcast rooms according to different categories, channels and customer groups, insisting on multi-platform, multi-timeslots and high-frequency online live broadcast, and devoting itself to realizing the shortest chain of sales.
Based on the original tens of thousands of sales terminals nationwide, the company's offline business continued to improve and optimize its sales network, continued to explore new retail business models, continued to promote the construction of space technology model terminals represented by Shopping Mall. The Company realized O2O integration development and high value conversion of consumers by combining with high-frequency, diversified and multi-platform online live broadcast, offline experience and digital operation, and realized accurate coverage of consumer groups in different circles with a three-dimensional and multi-level sales network.
c. Product Advantage