Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the next 6 to 12 months [10][11]. Core Insights - The company faced operational challenges in 2023, with total revenue of 1.676 billion yuan, a decrease of 33.02% year-on-year, primarily due to declining downstream demand and reduced sales of core products [10][11]. - The net profit attributable to the parent company was 272.33 million yuan, down 66.15% year-on-year, influenced by high R&D expenditures and increased labor costs [10][11]. - Despite the challenges, operating cash flow improved by 29.58% year-on-year to 463 million yuan, indicating better liquidity management [10]. Financial Performance - Revenue and Profit Forecasts: - Total revenue is projected to recover to 2.075 billion yuan in 2024, with a year-on-year growth of 23.84% [10][11]. - Net profit is expected to increase to 340.94 million yuan in 2024, reflecting a growth of 25.19% [10][11]. - Earnings Per Share (EPS) is forecasted to rise from 1.17 yuan in 2023 to 1.47 yuan in 2024 [10][11]. - The company's P/E ratio is projected to decrease from 29.58 in 2023 to 23.63 in 2024, indicating a more favorable valuation [10][11]. Industry Outlook - The defense information technology sector is expected to drive demand, with high entry barriers reinforcing the company's leading position in the high-reliability MLCC market [2]. - The company benefits from its strong capabilities in technology research, production quality assurance, and customer service, which are critical in the military electronics industry [2].

Financial Performance - The company's operating revenue for 2023 was approximately RMB 1.68 billion, a decrease of 33.02% compared to RMB 2.50 billion in 2022[18]. - Net profit attributable to shareholders for 2023 was approximately RMB 272.33 million, down 66.15% from RMB 804.62 million in 2022[18]. - The basic earnings per share for 2023 was RMB 1.18, a decline of 66.09% compared to RMB 3.48 in 2022[18]. - The weighted average return on net assets for 2023 was 6.65%, a decrease of 15.33 percentage points from 21.98% in 2022[18]. - In 2023, the company reported total operating income of RMB 1,975,049,991.05, with a net profit attributable to shareholders of RMB 292,431,760.05, representing a year-on-year increase of 15.2%[30]. - The company achieved operating revenue of CNY 1,675.85 million, a decrease of 33.02% compared to the same period last year[60]. - The net profit attributable to shareholders was CNY 272.33 million, down 66.15% year-on-year[60]. Cash Flow and Assets - The company reported a net cash flow from operating activities of approximately RMB 463.21 million, an increase of 29.58% from RMB 357.47 million in 2022[18]. - The company reported a net cash flow from operating activities of RMB 502,900,960.09 in Q4 2023, indicating strong cash generation capabilities[30]. - The total assets at the end of 2023 were approximately RMB 5.31 billion, a slight decrease of 0.54% from RMB 5.34 billion at the end of 2022[18]. Research and Development - The company has increased its investment in new business areas such as microprocessors and integrated circuits, maintaining a high level of R&D expenditure[18]. - The company invested RMB 107,062,400 in R&D during the reporting period, an increase of 8.48% year-on-year, accounting for 11.64% of its operating income[41]. - The company established the Hongyuan Innovation Research Institute to enhance R&D capabilities and foster technological exchanges within the industry[63]. - The company completed the development of over 100 customized filter products, significantly improving its delivery capabilities[67]. - The company obtained 66 new patents and 7 software copyrights during the reporting period, increasing its total intellectual property holdings by 47% to 228[76]. Product Development and Quality - The company launched new products in high-reliability fields, including RF microwave multilayer ceramic capacitors, improving product standards and quality levels[41]. - The company achieved mass production of microwave ceramic materials, significantly enhancing its core product's self-sufficiency[43]. - The company completed the development of over 30 models of packaging shells for various applications, currently in small batch supply phase[46]. - The company’s electromagnetic compatibility laboratory became operational, providing testing and rectification solutions for multiple clients[45]. - The company emphasizes the importance of product reliability and quality control, particularly in high-stakes applications, to avoid economic losses and damage to its brand[127]. Corporate Governance and Compliance - The company has established a robust corporate governance structure, with the board of directors responsible for decision-making and oversight, ensuring compliance with regulatory requirements[130]. - The board of directors has been actively involved in scientific decision-making, adhering to relevant regulations and ensuring timely disclosure of significant matters to protect investor interests[133]. - The company emphasizes compliance with legal regulations and has established a robust internal control system to safeguard shareholder interests[104]. - The internal control system has been continuously improved to align with the company's strategic goals and regulatory requirements, ensuring operational efficiency and compliance[159]. - The company received a standard unqualified opinion on the effectiveness of its internal controls from the auditing firm Xin Yong Zhong He[161]. Employee Management and Social Responsibility - The company has focused on talent acquisition and maintaining stable employee compensation despite rising overall labor costs[18]. - The company has implemented a comprehensive compensation system that includes monetary and non-monetary components, aiming to enhance employee satisfaction and performance[149]. - The company reported a total of 1,515 employees, including 774 production staff, 360 technical staff, 256 sales staff, 33 finance staff, and 92 administrative staff[148]. - The company has implemented a talent management mechanism to enhance talent acquisition and training[91]. - The company actively participates in the "Ten Thousand Enterprises Help Ten Thousand Villages" initiative to support rural revitalization[168]. - The company donated ¥15,000 to improve living conditions in the partnered village and purchased printers and dance costumes worth ¥5,600 for villagers[168]. - The company has committed to sustainable development and has been actively working on environmental management and pollution reduction measures[163]. Market Strategy and Risks - The company is actively monitoring market demand changes and adjusting marketing strategies accordingly to capture market share[97]. - The company faces risks related to long payment cycles from clients in sectors such as aerospace and electronics, which could impact cash flow[98]. - The company faces risks related to economic cycles, which could lead to decreased demand for products and subsequent revenue and profit declines if significant adverse events occur in the global or Chinese economy[126]. - The company has a risk associated with the growth of inventory levels, which could impact financial performance[128]. Investments and Financial Assets - The company’s trading financial assets increased from CNY 147.15 million to CNY 218.42 million, reflecting a change of CNY 71.27 million[59]. - The company’s investment in the Chengdu Deding Yixin Fund increased from CNY 312.5 million to CNY 450 million, with a 2.22% stake in the fund[81]. - The company holds 1.782 million shares of Chengdu Hongming Electronics Co., with a fair value of RMB 57.96 million[83]. - The company has committed RMB 43.5 million as a limited partner in the Beijing Cuihu Original Innovation No. 1 Venture Capital Fund, accounting for 23.58% of the fund's total size[84]. Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.35 per share for the 2023 fiscal year, pending approval at the shareholders' meeting[10]. - In 2022, the company's total cash dividends amounted to ¥139,194,649.12, representing 17.30% of the net profit attributable to shareholders after adjustments[123]. - The company implemented a share repurchase amounting to ¥53,489,591.08 in 2022, which is included in the cash dividend calculation[123]. - The company plans to maintain the per-share distribution amount unchanged despite changes in total share capital prior to the equity distribution registration date[152]. - The company has proposed to repurchase and cancel part of the restricted stock from the 2021 stock incentive plan, which was approved in the board meetings held in March and April 2023[154].

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北京市天元律师事务所 关于北京元六鸿远电子科技股份有限公司 2021 年限制性股票激励计划 回购注销部分限制性股票 的法律意见 北京市天元律师事务所 中国北京市西城区金融大街 35 号 国际企业大厦 A 座 509 单元 邮编：100033 北京市天元律师事务所 TIANYUAN LAW FIRM 中国北京市西城区金融大街 35 号国际企业大厦 A 座 509 单元, 邮编:100033 电话: (8610) 5776-3888; 传真: (8610) 5776-3777 主页：http://www.tylaw.com.cn 北京市天元律师事务所 关于北京元六鸿远电子科技股份有限公司 2021 年限制性股票激励计划 回购注销部分限制性股票 的法律意见 京天股字（2021）第 223-7 号 致：北京元六鸿远电子科技股份有限公司 北京市天元律师事务所（以下简称"本所"）受北京元六鸿远电子科技股份有 限公司（以下简称"鸿远电子"或"公司"）委托，担任公司的专项法律顾问，为公 司 2021 年限制性股票激励计划（以下简称"激励计划"）回购注销部分限制性股 票的有关事宜出具本法律意见。 为出具本法律意见，本所律师审阅 ...

北京元六鸿远电子科技股份有限公司 2023 年度 审计报告 | 索引 | | 页码 | | --- | --- | --- | | 审计报告 | | 1-4 | | 公司财务报表 | | | | — | 合并资产负债表 | 1-2 | | — | 母公司资产负债表 | 3-4 | | — | 合并利润表 | 5 | | — | 母公司利润表 | 6 | | — | 合并现金流量表 | 7 | | — | 母公司现金流量表 | 8 | | — | 合并股东权益变动表 | 9-10 | | — | 母公司股东权益变动表 | 11-12 | | — | 财务报表附注 | 13-102 | 信永中和会计师事务所 | 北京市东城区朝阳门北大街 8 号富华大厦 A 座 9 层 联系电话: +86 (010) 6554 2288 telephone: +86 (010) 6554 2288 ertified public accountants 9/F. Block A. Fu Hua Mansion No 8 Chaovangmen Beidaiie Donacheng District. Beijin 100027 P ...

北京元六鸿远电子科技股份有限公司 2023 年度 内部控制审计报告 索引 页码 联系申话: +86 (010) 6554 228 信永中和会计师事务所 | 北京市东城区朝阳门北大街 | +86 (010) 65 8 号宫 化十 厦 A 座 9 层 Q/F Block A Fil Hua Ma No.8. Chaovangmen Be Donachena District Beiji 100027 P R Chin: 内部控制审计报告 XYZH/2024BJAG1B0011 内部控制审计报告 1-2 北京元六鸿远电子科技股份有限公司 北京元六湾远电子科技股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计 了北京元六鸿远电子科技股份有限公司(以下简称鸿远电子公司)2023年12月 31日财 务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》 、《企业内部控制应用指引》 、《企业内部控制评 价指引》的规定,建立健全和有效实施内部控制,并评价其有效性是鸿远电子公司董事 会的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上,对 ...

北京元六鸿远电子科技股份有限公司 2023 年度财务决算报告 北京元六鸿远电子科技股份有限公司（以下简称"公司"）2023 年度财务报 告审计工作已经完成，由信永中和会计师事务所（特殊普通合伙）对我公司 2023 年 12 月 31 日的合并及母公司资产负债表，2023 年度合并及母公司利润表、合 并及母公司现金流量表、合并及母公司所有者权益变动表以及财务报表附注进行 了审计，并出具了标准无保留意见的审计报告。 一、主要会计数据 2023 年，公司实现营业收入 167,584.90 万元，较上年减少 82,635.17 万元， 较上年下降 33.02%；归属于上市公司股东的净利润 27,233.18 万元，较上年减少 53,229.00 万元，较上年下降 66.15%；归属于上市公司股东扣除非经常性损益后 的净利润 26,560.48 万元，较上年减少 51,829.98 万元，较上年下降 66.12%。 最近三年公司主要会计数据： 单位：人民币万元 | 项目 | 2023 年 | 2022 | 年 | 本期比上年 同期增减 | 2021 年 | | --- | --- | --- | --- | --- | ...

证券代码：603267 证券简称：鸿远电子 公告编号：临 2024-014 北京元六鸿远电子科技股份有限公司 关于变更注册资本并修订公司章程的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 北京元六鸿远电子科技股份有限公司（以下简称"公司"）于 2024 年 3 月 25 日 召开第三届董事会第十三次会议审议通过《关于变更公司注册资本并修订<公司章 程>的议案》，现将有关内容公告如下： 一、变更注册资本情况 2 | （二）董事会拟定的利润分配方案和弥补亏 | （三）董事会和监事会成员的任免及其报酬和 | | --- | --- | | 损方案（本章程第一百六十二条第（四）款所列 | 支付方法； | | 之事项除外）； | （四）公司年度预算方案、决算方案； | | （三）董事会和监事会成员的任免及其报酬 | （五）公司年度报告； | | 和支付方法； | （六）除法律、行政法规规定或者本章程规定 | | （四）公司年度预算方案、决算方案； | 应当以特别决议通过以外的其他事项。 | | （五）公司年度报告； | | | ...

证券代码：603267 证券简称：鸿远电子 公告编号：临 2024-019 重要内容提示： 会议召开时间：2024 年 4 月 2 日（星期二）下午 15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上证路演中心 （ 网 址 ： https://roadshow.sseinfo.com）。 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 3 月 26 日（星期二）至 2024 年 4 月 1 日（星期一） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过北京元六鸿 远 电 子 科 技 股 份 有 限 公 司 （ 以 下 简 称 " 公 司 "） 投 资 者 关 系 邮 箱 603267@yldz.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 公司已于2024年3月26日在上海证券交易所网站发布了2023年年度报告，为 便于广大投资者更全面深入地了解公司2023年度经营成果、财务状况等情况，公 司计划于2024年4月2日下午15:00-16:00举行2023年度业绩说明会，就投资者关心 的问题进行交流。 一、 说明会类型 ...

证券代码：603267 证券简称：鸿远电子 公告编号：临 2024-018 北京元六鸿远电子科技股份有限公司 关于召开 2023 年年度股东大会的通知 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年4月16日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2023 年年度股东大会 召开的日期时间：2024 年 4 月 16 日 14 点 00 分 召开地点：北京市大兴区中关村科技园区大兴生物医药产业基地天贵街 1 号北京元六鸿远电子科技股份有限公司 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 4 月 16 日 至 2024 年 4 月 16 日 采用上海证券交易所网络 ...