Financial Performance - The net profit attributable to the parent company for 2023 is RMB 2,759,690,819.78, with undistributed profits amounting to RMB 2,400,071,368.15[6] - The proposed cash dividend is RMB 3.80 per 10 shares, totaling RMB 891,128,218.04 (including tax) based on the adjusted share count of 2,345,074,258 shares[6] - The cash dividend payout ratio for the year is 52.57%, including the interim cash dividends already distributed[6] - The company's operating revenue for 2023 reached ¥21.52 billion, an increase of 39.21% compared to ¥15.46 billion in 2022[25] - Net profit attributable to shareholders for 2023 was ¥2.76 billion, reflecting a growth of 30.00% from ¥2.12 billion in the previous year[25] - The net cash flow from operating activities surged to ¥1.97 billion, a significant increase of 1012.04% compared to ¥176.90 million in 2022[25] - The total assets at the end of 2023 amounted to ¥42.98 billion, up 32.74% from ¥32.38 billion at the end of 2022[25] - Basic earnings per share for 2023 were ¥1.24, representing a 25.25% increase from ¥0.99 in 2022[26] - The weighted average return on equity for 2023 was 15.49%, a decrease of 0.78 percentage points from 16.27% in 2022[26] - The company reported a total of ¥65.43 million in non-recurring gains for 2023, compared to ¥48.20 million in 2022[29] Corporate Governance - The company has no non-operating fund occupation by controlling shareholders or related parties[9] - There are no violations of decision-making procedures regarding external guarantees[10] - The report includes a standard unqualified audit opinion from Deloitte Huayong[5] - The company maintains complete independence from its controlling shareholders in terms of business operations, assets, personnel, and finance, ensuring no interference in decision-making[102] - The company has established an independent financial accounting department with a complete financial management system, and operates separate bank accounts, ensuring no shared accounts with controlling shareholders[103] - The company has a fully independent asset ownership structure, with no legal disputes or potential disputes regarding its assets, and it does not provide guarantees for shareholders or their affiliates[102] - The company has implemented a comprehensive personnel management system, ensuring that all employees are contracted independently from the controlling shareholders[103] - The company revised its governance rules, including the shareholder meeting rules and board meeting rules, to enhance the effectiveness of independent directors[100] - The company has established specialized committees under the board to ensure scientific decision-making and effective supervision[101] Market and Industry Trends - In 2023, China's newly installed photovoltaic capacity reached 216.88 GW, a year-on-year increase of 148.1%[34] - The global photovoltaic market saw significant growth, with the Middle East experiencing a 94% increase in component exports in 2023[33] - The photovoltaic glass market is gradually moving towards balance due to reduced expansion rates and stricter government approvals[34] - The photovoltaic industry is experiencing robust growth, with global installation demand expected to reach new highs, particularly in the Chinese market, which has seen over 100% growth[85] Research and Development - The company invested CNY 596,750,492.70 in R&D, representing 2.77% of total revenue[62] - The company’s research and development expenses rose by 14.05% to CNY 596,750,492.70, driven by new projects including ultra-thin glass and high-transparency technology[45] - The company plans to enhance its R&D capabilities by investing in a first-class research center and collaborating with well-known enterprises in the industry to improve product competitiveness[89] Environmental and Social Responsibility - The company invested approximately 30,964.59 million CNY in environmental protection during the reporting period[150] - The company achieved a reduction of 1,796,489 tons in carbon dioxide equivalent emissions through various carbon reduction measures[158] - The company successfully lowered its unit revenue water consumption by 11.76% from 6.8 cubic meters per 10,000 CNY in 2021 to 6.04 in 2023[160] - The unit revenue greenhouse gas emissions decreased by 11.64% from 2.92 tons of CO2 per 10,000 CNY in 2021 to 2.58 in 2023[160] - The company reduced its unit revenue hazardous waste to 0.09 kg per 10,000 CNY in 2023, down from 0.46 kg in 2021, representing an 80.43% decrease[160] - The company reported a total charitable contribution of 230.61 million CNY, primarily directed towards various charitable organizations[162] - The company allocated 66.11 million CNY to support poverty alleviation efforts through agricultural product purchases[162] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] - The company plans to expand its production capacity to 20,600 tons/day by the end of 2023, with new projects in Anhui and Nantong expected to start operations[34] - The company is investing in a photovoltaic glass furnace in Indonesia to meet regional demand[34] - The company aims to enhance manufacturing processes and optimize furnace technology to reduce comprehensive energy consumption and improve product yield[88] - The company plans to implement a new logistics strategy that is projected to reduce operational costs by 10% over the next year[113] Shareholder and Executive Compensation - The total pre-tax compensation for all listed executives amounted to 12,678,566 RMB, with an average compensation of approximately 999,580 RMB[111] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 9,995,800[117] - The remuneration for directors and senior management is determined based on industry salary levels, annual operating performance, and performance assessment results[118] - The company has established a long-term incentive policy to enhance the diligence and responsibility of senior management[146] Risk Management - The company has described potential risks in its future development in the report, urging investors to pay attention[11] - The company faces risks related to fluctuations in the photovoltaic industry, trade disputes, and environmental regulations that could impact its operations and market position[94] - The company is actively monitoring raw material prices, particularly for soda ash and natural gas, to manage cost fluctuations effectively[95] - The company recognizes the potential impact of exchange rate fluctuations on its foreign sales, which accounted for 20.09% of total revenue[95] Shareholder Meetings and Resolutions - The company held its annual shareholder meeting on June 6, 2023, where it approved the 2022 financial statements and the 2023 financial budget[106] - The second temporary shareholder meeting on October 27, 2023, approved the mid-year profit distribution plan and changes to the company's registered capital[108] - The company plans to repurchase a portion of its H shares, as approved in the third temporary shareholder meeting on December 22, 2023[109] - The board approved several resolutions regarding the 2022 annual report and financial statements, indicating a focus on governance and compliance[120]

Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Insights - The company achieved a revenue of 21.524 billion yuan in 2023, representing a year-on-year increase of 39.21%. The net profit attributable to shareholders was 2.760 billion yuan, up 30.00% year-on-year [1]. - The company experienced a significant increase in photovoltaic glass shipments, with sales reaching 1.22 billion square meters, a year-on-year growth of 49.52%. However, the overall gross margin slightly decreased to 21.80% [1]. - The company is expanding its production capacity, with plans to increase nominal capacity to 30,200 tons per day by the end of 2024, which is expected to solidify its leading position in the market [1]. Summary by Sections Financial Performance - In Q4 2023, the company reported revenue of 5.639 billion yuan, a year-on-year increase of 32.80%, but a quarter-on-quarter decrease of 9.14%. The net profit for the same period was 791 million yuan, up 27.91% year-on-year [1]. - The company’s operating income for 2024 is projected to be 26.383 billion yuan, with a growth rate of 22.6% [2]. Cost and Margin Analysis - The gross margin for photovoltaic glass was 22.45%, down 0.87 percentage points year-on-year, primarily due to lower prices in 2023 [1]. - The company effectively managed its expenses, with a total expense ratio of 6.98%, a decrease of 0.53 percentage points year-on-year [1]. Capacity Expansion - By the end of 2023, the company’s photovoltaic glass capacity was approximately 20,600 tons per day, with plans to add new production lines in Anhui and Jiangsu [1]. - The company is also planning to establish production capacity in Indonesia to meet overseas demand [1]. Future Projections - The company’s revenue is expected to reach 34.362 billion yuan in 2025 and 40.907 billion yuan in 2026, with corresponding growth rates of 30.2% and 19.0% respectively [2]. - The net profit attributable to shareholders is projected to be 5.029 billion yuan in 2025 and 6.042 billion yuan in 2026, with growth rates of 31.3% and 20.2% respectively [2].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [10]. Core Views - The company reported a revenue of 21.524 billion RMB in 2023, a year-on-year increase of 39.21%, and a net profit attributable to shareholders of 2.760 billion RMB, up 30.00% year-on-year [3]. - The company achieved a high production and sales rate of 101% in 2023, demonstrating strong alpha attributes despite challenges in the market [3]. - The company plans to accelerate capacity expansion in 2024, adding 9,600 tons/day, which is expected to significantly boost shipment volumes in the coming years [3]. - The supply-demand dynamics for photovoltaic glass are expected to improve, with a notable decrease in soda ash costs, leading to potentially better-than-expected profitability in 2024 [3]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 21.524 billion RMB, with a growth rate of 39.21% compared to 2022 [6]. - The net profit attributable to shareholders was 2.760 billion RMB, reflecting a growth rate of 30.00% year-on-year [6]. - The diluted earnings per share for 2023 was 1.17 RMB, with a projected increase to 1.79 RMB in 2024 [6]. Capacity and Production - The company’s total production capacity reached 20,600 tons/day by the end of 2023, with plans to increase this by 9,600 tons/day in 2024 [3]. - The production and sales rate was 101% in 2023, indicating efficient operations and inventory management [3]. Market Outlook - The report anticipates a continued tight supply-demand situation for photovoltaic glass in 2024, driven by improved component production schedules and limited new capacity additions in the industry [3]. - The decrease in soda ash prices is expected to enhance the company's profitability, with projections for net profit reaching 4.198 billion RMB in 2024 [3]. Valuation - The report adjusts the net profit forecasts for 2024-2026 to 4.198 billion RMB, 5.688 billion RMB, and 7.085 billion RMB respectively, with corresponding PE ratios of 16.1 and 9.5 for A/H shares in 2024 [3].

Financial Performance - For the fiscal year ending December 31, 2023, the group's revenue reached approximately RMB 21,523.71 million, a 39.21% increase compared to RMB 15,460.84 million for the fiscal year ending December 31, 2022[8]. - The net profit attributable to shareholders for the fiscal year was RMB 2,759.69 million, reflecting a 30.00% growth from RMB 2,122.78 million in the previous fiscal year[8]. - The total assets of the company as of December 31, 2023, amounted to RMB 42,981.998 million, up from RMB 32,381.723 million in 2022, indicating a growth of 32.5%[17]. - The company's total liabilities increased to RMB 20,691.088 million in 2023 from RMB 18,349.275 million in 2022, representing an increase of 12.7%[17]. - The company's basic earnings per share for 2023 was RMB 1.24, compared to RMB 0.99 in 2022, marking a 25.25% increase[17]. - The total equity attributable to shareholders reached RMB 22,215.074 million in 2023, up from RMB 14,032.447 million in 2022, an increase of 58.5%[17]. - EBITDA increased by RMB 1,640.37 million to RMB 5,384.93 million, with an EBITDA margin of 25.02% compared to 24.22% in the previous year[80]. - The gross profit for the fiscal year was RMB 4,692.99 million, a 37.52% increase from RMB 3,412.65 million, with a gross margin of 21.80%[68]. - Operating costs for the year were RMB 16,830.72 million, an increase of 39.70% from RMB 12,048.19 million, primarily due to increased sales volume[65]. - Financial expenses increased by 100.84% to RMB 482.89 million, attributed to higher bank borrowings and interest from convertible bonds[73]. - The effective tax rate increased significantly to 9.46% from 1.40% in the previous year, with income tax expenses rising to RMB 288.78 million[74]. Production and Capacity - The global photovoltaic installed capacity reached a new high in 2023, with China's new installations totaling 216.88 GW, a year-on-year increase of 148.1%[9]. - The company is enhancing manufacturing processes and optimizing furnace technology to reduce energy consumption and improve the yield of photovoltaic glass products[12]. - The Anhui Phase IV project is currently in the installation and commissioning stage, with plans to commence production soon[12]. - The Nantong project is under construction and is expected to start production in the third quarter of this year[12]. - As of December 31, 2023, the total capacity of the group is 20,600 tons per day, with projects in Anhui and Nantong expected to contribute an additional 9,600 tons per day, projected to commence operations this year[57]. - The photovoltaic glass segment generated revenue of RMB 19,676.53 million, up 43.82% from RMB 13,681.80 million year-over-year[60]. - The company plans to invest in building photovoltaic glass furnaces in Indonesia to meet the demand in various countries and regions[57]. Research and Development - Research and development expenses rose to RMB 596.75 million, a 14.05% increase from RMB 523.23 million, driven by new projects including large furnace technology and ultra-thin glass[72]. - The company will continue to increase R&D investment in furnace scale, product quality, and type expansion to enhance competitiveness in the global photovoltaic glass market[57]. - The company is investing in a photovoltaic component cover glass project in Indonesia to better meet downstream market demands[12]. Corporate Governance - The company has a strong management team with extensive experience in the glass industry, including over 31 years of experience held by Mr. Wei Zhiming[119]. - The company has implemented a clear separation of roles between the chairman and the CEO, in line with corporate governance best practices[123]. - The board currently consists of five executive directors and three independent non-executive directors, ensuring a diverse governance structure[124]. - The company has established an Audit Committee, Remuneration Committee, Nomination Committee, Strategic Development Committee, and Risk Management Committee to ensure effective governance[141]. - The board has adopted a diversity policy to ensure appropriate balance in skills, experience, and perspectives, enhancing effective operation and high standards of corporate governance[150]. - The company emphasizes the importance of good corporate governance to ensure compliance with applicable laws and regulations[123]. Shareholder Engagement and Dividends - The company proposed a final dividend of RMB 0.38 per share, subject to approval at the annual general meeting[87]. - The board proposed a final dividend of RMB 0.38 per share (pre-tax), subject to approval at the annual general meeting, with a commitment to distribute no less than 20% of distributable profits as dividends[185]. - The company encourages shareholder participation in annual general meetings, providing at least 21 days' notice for annual meetings and 15 days for extraordinary meetings[169]. - Shareholders holding more than 10% of voting shares can request the board to convene a special general meeting within ten days of submitting a written request[170]. Market Outlook and Strategy - The company has outlined a positive outlook for the upcoming year, projecting a revenue growth of 10% to 12%[107]. - New product launches are expected to contribute to revenue, with an estimated additional 100 million from the introduction of innovative glass products[107]. - The company is considering strategic acquisitions to enhance its market position, with a focus on companies that complement its existing product lines[107]. - The management team emphasized the importance of sustainability in their new strategies, aiming for a 30% reduction in carbon emissions by 2025[107]. Risk Management - The company faces significant risks related to the photovoltaic glass industry, including potential decreases in demand and pricing due to macroeconomic factors and market conditions[188]. - The company must comply with various Chinese environmental laws and regulations, which could impact production capacity and increase operational costs if there are adverse changes[191]. - The company has established a risk management and internal control system to safeguard assets and shareholder interests, ensuring reasonable assurance against errors or losses in operations[165][168]. Tax Compliance - The company ensures compliance with tax regulations for all shareholders regarding dividend taxation[101]. - The company is subject to tax policies outlined by the Ministry of Finance and the State Administration of Taxation[4]. - The company has implemented measures to facilitate tax treaty benefits for eligible shareholders[96]. - The company is committed to maintaining transparency in its tax practices and shareholder communications[102].

其他信息 其他信息 不適用 發行人董事 執行董事：阮洪良先生、姜瑾華女士、阮泽云女士、魏葉忠先生和沈其甫先生 獨立非執行董事：徐攀女士、華富蘭女士和吳幼娟女士 第 1 頁 共 2 頁 v 1.1.1 | | 非居民企業 | | | | --- | --- | --- | --- | | | （非中國內地登記地址） | 10% | 本公司向所有非居民企業股東派發 股息時須代扣代繳10%的企業所得 | | | | | 稅。 | | | 透過滬股通投資上海證券交易 所本公司A股股票投資者 | 10% | 本公司按照10%的稅率代扣所得 稅，並向主管稅務機關辦理扣繳申 | | | | | 報。 | | | 透過港股通投資聯交所本公司 | 20% | 本公司按照20%的稅率代扣個人所 | | | H股股票投資者 | | 得稅。 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | | EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或 ...

国泰君安证券股份有限公司 关于福莱特玻璃集团股份有限公司 2023年持续督导年度报告书 根据《证券法》《证券发行上市保荐业务管理办法》（2023年修订）、《上 海证券交易所股票上市规则》（2023年8月修订）、《上海证券交易所上市公司 持续督导工作指引》等有关法律、法规的规定，国泰君安证券股份有限公司（以 下简称"保荐机构"）作为福莱特玻璃集团股份有限公司（以下简称"福莱特"、 "公司"或"发行人"）的持续督导保荐机构，对福莱特进行持续督导，现就2023 年度持续督导工作总结如下： 一、持续督导工作情况 保荐机构及保荐代表人根据《证券发行上市保荐业务管理办法》（2023年修 订）和《上海证券交易所上市公司持续督导工作指引》等相关规定，针对福莱特 具体情况确定了持续督导的内容和重点，通过日常沟通、定期或不定期回访等方 式对福莱特进行了日常的持续督导。具体工作开展情况如下： | 序号 | 工作内容 | 实施情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对 具体的持续督导工作制定相应的工作计划。 | 已建立健全并有效执行了持续督 | | | | 导制度，已根据 ...

国泰君安证券股份有限公司 关于福莱特玻璃集团股份有限公司 2021 年度公开发行 A 股可转换公司债券持续督导 之保荐工作总结报告书 国泰君安证券股份有限公司（以下简称"国泰君安"或"保荐机构"）作为福莱特 玻璃集团股份有限公司（以下简称"福莱特"、"公司"、"发行人"）2021 年度公开 发行 A 股可转换公司债券持续督导保荐机构，履行持续督导职责期间截至 2023 年 12 月 31 日，持续督导期限已满。保荐机构按照《证券发行上市保荐业务管理办法》（2023 年修订）和《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等相关法 律法规和规定的要求，出具本保荐总结报告书。 一、保荐机构及保荐代表人承诺 1、根据福莱特提供的相关资料和信息，本保荐总结报告书不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担法律责任。 2、本机构及保荐代表人自愿接受中国证券监督管理委员会（以下简称"中国证监 会"）对保荐总结报告书相关事项进行的质询和调查。 3、本机构及保荐代表人自愿接受依据中国证监会《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 | 保荐机构名 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 福萊特玻璃集團股份有限公司 公告 關於二零二四年度擬回購本公司H股的一般性授權 茲提述福萊特玻璃集團股份有限公司（「本公司」）日期為二零二三年十二月四日之通函（「通函」）及日 期為二零二三年十二月二十二日之公告，內容有關本公司回購H股的一般性授權。除非文義另有所 指，本公告所用詞彙與通函之所界定者具有相同涵義。 本公司於二零二三年十二月二十二日召開二零二三年年第三次臨時股東大會及二零二三年第三次 類別股東大會，授予董事會回購本公司H股的一般性授權（「二零二三年度回購授權」），由董事會決 定回購不超過本公司相關決議案獲通過當日已發行H股股份總數的10%（即45,000,000股H股）。 截至本公告日，本公司已累計回購6,250,000股H股，佔本公司於二零二三年十二月二十二日已發 行H股數量的1.39%及已發行股份總數的0.27%，回購的最高價為港幣15.24元╱股，最低價為港幣 13.66元╱股，已使用 ...

公司第六届董事会审核委员会由独立董事徐攀女士、华富兰女士及吴幼娟女士 三名成员组成，其中审核委员会召集人为会计专业人士徐攀女士，审核委员会委员 任职均符合上海证券交易所的相关规定及《公司章程》的规定。 二、审核委员会2023年度会议召开情况 2023年度，董事会审核委员会共召开5次会议，全体委员亲自出席并对公司财务 报告、年度报告、关联交易等情况进行了审核，具体情况如下： 福莱特玻璃集团股份有限公司 董事会审核委员会2023年度履职情况报告 2023年，福莱特玻璃集团股份有限公司（以下简称"公司"或"本公司"）董事会 审核委员会委员根据《中华人民共和国公司法》（以下简称"《公司法》"）《上 海证券交易所上市公司自律监管指引第1号——规范运作》《上市公司治理准则》《上 海证券交易所股票上市规则》《公司章程》《公司审核委员会职权范围及程序》《公 司董事会审核委员会工作制度》等法律法规及规章制度的有关规定，均切实履行相 应的职责和义务，现就2023年度履职情况报告如下： 一、审核委员会基本情况 在公司2022年年报审计工作中，公司董事会审核委员会全体委员在会计师审计 前、审计中及出具初步审计意见后，均积极与会计师就 ...

福萊特玻璃集團股份有限公司 環境、社會及管治報告 2023 目錄 CONTENTS | 報告編制說明 | 01 | | --- | --- | | 走進福萊特玻璃 | 03 | | ESG 亮點績效 | 05 | | ESG 管理體系 | 07 | | ESG 數據績效表 | 73 | | 報告標準索引表 | 79 | | 守護綠色，同創未來 | 17 | | --- | --- | | 責任專題 一心向光 共創綠色生活價值 | 18 | | 環境管理體系 | 25 | | 優化資源利用 | 28 | | 排放與廢棄物管理 | 30 | | 環境篇 | 15 | 社會篇 | 35 | 管治篇 | 61 | | --- | --- | --- | --- | --- | --- | | 守護綠色，同創未來 | 17 | 凝心聚力，共見美好 | 37 | 專注至強，穩健經營 | 63 | | 責任專題 一心向光 共創綠色生活價值 | 18 | 維護員工權益 | 38 | 鞏固治理根基 | 64 | | 環境管理體系 | 25 | 守護員工健康 | 44 | 深化風險管理 | 68 | | 優化資源利用 | 28 ...