2024 年 05 月 06 日 景津装备(603279.SH) 其他专用机械 升幅% 1M 3M 12M 郭倩倩 分析师 2023-10-31 业绩稳健增长，毛利率持续 域占比进一步提升 2023-04-27 公司快报 景津装备发布 2023 年及 2024 年一季报，2023 年公司实现营收 62.49 亿元，同比+9.98%，实现归母净利润 10.08 亿元，同比+20.89%，实 现扣非归母净利润 9.87 亿元，同比+19.72%。 展望 2024 年，新能源领域由于动力电池资本开支增速下滑或承压， 其他领域需求托底，看好公司全年业绩实现稳健增长。其中：环保有 望保持稳健增长，增长主要来自四五线城市和县城的污水处理厂建设 以及工业污水处理，此外，2024 年 3 月国务院印发《推动大规模设 备更新和消费品以旧换新行动方案》，提出"环保绩效达到 A 级水平的 产能比例大幅提升"，有望加速环保设备（如压滤机）向高端化、成套 化等方向更新换代；矿物加工有望维持较高增长，增量来自矿物的尾 矿循环处理；砂石行业有望转为正增，主要系砂石下游客户矿山竞标 积极性提高。 本报告仅供 Choice 东方财富 使用，请 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative performance increase of over 20% compared to the relevant market index within the next six months [12][21]. Core Insights - The company reported a revenue of 6.25 billion yuan in 2023, representing a year-on-year growth of 10.0%, and a net profit attributable to shareholders of 1.01 billion yuan, up 20.9% year-on-year [1]. - In Q1 2024, the company achieved a revenue of 1.51 billion yuan, a 2.7% increase year-on-year, with a net profit of 230 million yuan, reflecting a 6.7% growth [1]. - The overseas market is expected to provide significant growth potential, with the company focusing on expanding its presence internationally, where the market size is estimated to be 2-3 times larger than the domestic market [2]. - The company is also actively developing its supporting equipment and accessories business, which is anticipated to become a second growth curve for its performance [2]. Financial Performance - The company’s comprehensive gross margin for 2023 was 31.8%, an increase of 1.0 percentage points year-on-year, primarily due to low raw material prices [13]. - The net profit margin for 2023 was 16.1%, up 1.5 percentage points year-on-year, while the Q1 2024 net profit margin was 15.2%, an increase of 0.6 percentage points [13]. - The company’s revenue is projected to grow from 6.25 billion yuan in 2023 to 8.16 billion yuan by 2026, with a compound annual growth rate (CAGR) of 11% for net profit over the same period [14][19]. Market Position - The company holds a domestic market share of over 40% in the filter press segment, but its current overseas market share is low, indicating substantial room for growth [2]. - The company’s product segments, including filter plates and filter cloths, have shown significant growth, with increases of 11.6% and 36.5% respectively in 2023 [13]. Future Projections - The company is expected to maintain stable growth in its filter press business, with gross margins projected to remain around 29.5% from 2024 to 2026 [16]. - The accessory business is anticipated to grow steadily, with revenue projections of 420 million yuan in 2024, increasing to 1.22 billion yuan by 2026 [18]. - The supporting equipment segment is expected to see a revenue increase from 17.64 million yuan in 2024 to 23.48 million yuan by 2026, with a gross margin of 30% [18].

证券代码:603279 证券简称:景津装备 景津装备股份有限公司 投资者关系活动记录 景津装备股份有限公司2024年3月份与投资者在信息披露范围内互动交 流情况:  接听投资者来电6通。 投资者关注的主要问题及回复如下： 1.问题：公司2023年前三季度经营性现金流同比减少较多的原因是什么？ 回答：公司2023年前三季度经营活动产生的现金流量净额同比减少的原 因系客户合同预付款减少及收到票据增加导致经营活动现金流入减少，以及支 付职工薪酬和税费增加导致经营活动现金流出增加。 2.问题：公司近年来营业收入持续增长的原因？公司在行业里的竞争优势 ...

Investment Rating - The investment rating for the company is "Buy" [8][14]. Core Views - The company has shown continuous revenue growth, with a 2023 revenue of 6.249 billion yuan, representing a year-on-year increase of 10%. The net profit attributable to the parent company reached 1.008 billion yuan, up 21% year-on-year. The gross profit margin was 31.75%, an increase of 1.02 percentage points, while the net profit margin was 16.13%, up 1.45 percentage points [8][6]. - The company is a leader in the filter press sector, with new production capacity expected to be released, and its products have a competitive advantage in overseas markets, which is anticipated to drive order growth [8][6]. - The company maintains a long-term high dividend policy, with a total dividend of 611 million yuan in 2023, representing a year-on-year increase of 6% [8][6]. Financial Summary - **Revenue Forecasts**: - 2023A: 6,249 million yuan - 2024E: 6,764 million yuan - 2025E: 7,641 million yuan - 2026E: 8,645 million yuan [3] - **Net Profit Forecasts**: - 2023A: 1,008.09 million yuan - 2024E: 1,091.19 million yuan - 2025E: 1,232.22 million yuan - 2026E: 1,393.67 million yuan [3] - **Earnings Per Share (EPS)**: - 2023A: 1.75 yuan - 2024E: 1.89 yuan - 2025E: 2.14 yuan - 2026E: 2.42 yuan [3] - **Price-to-Earnings (P/E) Ratio**: - 2023A: 13.30 - 2024E: 12.29 - 2025E: 10.88 - 2026E: 9.62 [3] Operational Highlights - The company reported a year-end contract liability of 2.576 billion yuan in 2023, an increase of 19% year-on-year, and 2.598 billion yuan in Q1 2024, up 18% [8][6]. - The company’s operating cash flow for 2023 was 268 million yuan, with a significant improvement in Q4 2023 and Q1 2024 [11][8]. Segment Performance - **By Industry**: - Environmental protection: 1.605 billion yuan (+10%) - Mineral processing: 1.659 billion yuan (+7%) - New energy materials: 1.655 billion yuan (+46%) - Chemical: 611 million yuan (-16%) - Sand and gravel: 392 million yuan (-5%) - Biomedicine: 310 million yuan (-18%) [8][6]. - **By Product**: - Filter press: 4.885 billion yuan (+3%) - Accessories: 927 million yuan (+1%) - Supporting equipment: 420 million yuan [8][6]. Market Data - The closing price of the stock is 23.25 yuan, with a market capitalization of approximately 13.22 billion yuan [7].

环保 | --- | --- | |---------------------------------------------|-------------------------------| | 市场数据： | 2024 年 04 月 25 日 | | 收盘价（元） | 23.37 | | 一年内最高 / 最低（元） | 32.24/16.53 | | | | | 市净率 息率（分红 / 股价） | 3.2 4.54 | | | 13291 | | 流通 A 股市值（百万元） 上证指数 / 深证成指 | 3052.90/9264.48 | | 注："息率"以最近一年已公布分红计算 | | 相关研究 合同负债稳步提升，未来增长有保障。截止 2023 年底，公司合同负债 25.76 亿元，截止 2024Q1，合同负债为 25.98 亿元（2023Q1 为 22.05 亿元），整体稳步提升。 上 市 公 司 ——压滤机稳步增长，配件+配套装备+出海逐步发力 一年内股价与大盘对比走势： 原料价格下降推动配件毛利率提升，公司利润增速高于收入增速。2023 年公司总体毛利 率提升 1 个百分点至 32%，其中配件销售毛 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has shown significant growth in revenue and net profit, with a 10% year-on-year increase in revenue for 2023, reaching 6.25 billion yuan, and a 20.9% increase in net profit, totaling 1.01 billion yuan [9] - In Q1 2024, the company achieved a revenue of 1.51 billion yuan, up 2.7% year-on-year, and a net profit of 230 million yuan, reflecting a 6.7% increase [3][6] - The growth in revenue is primarily driven by the new energy and environmental protection sectors, with notable increases in core components and supporting equipment [5] Summary by Sections Financial Performance - The company reported a net profit margin of 16.1% for 2023, an increase of 1.5 percentage points year-on-year, attributed to lower raw material costs and reduced management expenses [14] - The gross profit margin for 2023 was 31.8%, up 1.0 percentage points from the previous year [14] - The operating cash flow showed signs of recovery, with Q4 2023 cash flow at 170 million yuan, a significant improvement from the previous quarter [8] Revenue Breakdown - Revenue contributions from various sectors in 2023 included: - New energy materials: 1.66 billion yuan (+46%) - Environmental protection: 1.61 billion yuan (+10%) - Core components: - Filter plates: 490 million yuan (+11.6%) - Filter cloths: 300 million yuan (+36.5%) - Other components: 560 million yuan (+119%) [5] Future Outlook - The company is expected to continue its growth trajectory, with projected revenues of 6.49 billion yuan, 6.94 billion yuan, and 7.53 billion yuan for 2024, 2025, and 2026 respectively [14] - The forecasted net profits for the same years are 1.08 billion yuan, 1.18 billion yuan, and 1.28 billion yuan, indicating a stable growth outlook [14]

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company has shown continuous revenue growth, achieving a revenue of 6.25 billion yuan in 2023, a year-on-year increase of 10.0%, and a net profit of 1.01 billion yuan, up 20.9% year-on-year [2][5]. - The company's profitability is steadily improving, with a gross margin of 31.7% in 2023, an increase of 1.0 percentage points year-on-year, and a net profit margin of 16.1%, up 1.5 percentage points year-on-year [3][5]. - The company is expanding its product offerings and export markets, which opens up additional growth opportunities [4][5]. Financial Performance Summary - Revenue for 2023 was 62.49 billion yuan, with a projected growth rate of 9.5% for 2024 [6]. - The net profit for 2023 was 1.008 billion yuan, with expected growth rates of 13.7% for 2024 [6]. - The company’s earnings per share (EPS) for 2023 was 1.75 yuan, with projections of 1.99 yuan for 2024 [6]. - The price-to-earnings (P/E) ratio is projected to decrease from 13.4 in 2023 to 11.8 in 2024 [6]. Business Segments - The company’s revenue from the new energy and new materials segment reached 1.54 billion yuan in 2023, a year-on-year increase of 35.3% [4]. - Revenue from the environmental protection segment was 1.61 billion yuan, up 10.0% year-on-year, driven by stricter environmental policies [4]. - The mineral and processing segment generated 1.66 billion yuan, a 7.0% increase year-on-year, benefiting from increased demand in the coal and strategic mineral industries [4]. - The company’s revenue from supporting equipment and exports was 420 million yuan, with a gross margin of 28.7% [4].

Investment Rating - The report maintains a "Recommended" rating for the company [1][11]. Core Views - The company achieved a revenue of 6.249 billion yuan in 2023, representing a year-on-year growth of 9.98%, and a net profit attributable to shareholders of 1.008 billion yuan, up 20.89% year-on-year [1]. - The revenue for Q1 2024 was 1.507 billion yuan, with a year-on-year increase of 2.66%, and a net profit of 229 million yuan, growing 6.7% year-on-year [1]. - The product structure shows a steady increase in the proportion of diaphragm filter presses, with total filter press revenue reaching 4.884 billion yuan in 2023, a growth of 2.78% year-on-year [1]. - The company is expanding its complete equipment layout and has invested 480 million yuan in the second phase of the filtration complete equipment industrialization project [1]. Summary by Sections Financial Performance - In 2023, the company reported a gross margin of 31.75%, an increase of 1.02% year-on-year, and a net profit margin of 16.13%, up 1.45% year-on-year [1]. - The company’s revenue from the environmental protection sector was 1.61 billion yuan, a 10% increase year-on-year, while the mining and processing sector generated 1.663 billion yuan, up 7% year-on-year [1]. - The company’s net profit forecasts for 2024-2026 are 1.121 billion yuan, 1.268 billion yuan, and 1.432 billion yuan, respectively, with corresponding PE ratios of 12x, 10x, and 9x [1]. Product and Market Development - The diaphragm filter press revenue reached 3.944 billion yuan in 2023, with a year-on-year growth of 5.72% [1]. - The company has begun to disclose its supporting equipment business separately, which generated 420 million yuan in revenue in 2023 [1]. - The company’s contract liabilities increased to 2.598 billion yuan in Q1 2024, reflecting a year-on-year growth of 17.8% [1]. Strategic Initiatives - The company is focusing on horizontal expansion of supporting equipment to enhance its overall industry layout [1]. - The investment in the complete equipment industrialization project is expected to provide a new growth engine for the company [1].

景津装备股份有限公司 审 计 报 告 众环审字（2024）0203339号 目 录 审计报告 | 财务报表 | | | --- | --- | | 合并资产负债表 | 1 | | 合并利润表 | 3 | | 合并现金流量表 | 4 | | 合并股东权益变动表 | 5 | | 资产负债表 | 7 | | 利润表 | 9 | | 现金流量表 | 10 | | 股东权益变动表 | 11 | | 财务报表附注 | 13 | | 财务报表附注补充资料 | 98 | 起始页码 审 计 报 告 众环审字（2024）0203339 号 景津装备股份有限公司全体股东： 一、审计意见 我们审计了景津装备股份有限公司（以下简称"景津装备公司"）财务报表，包括 2023 年 12 月 31 日的合并及公司资产负债表，2023 年度的合并及公司利润表、合并及公司现金 流量表、合并及公司股东权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了 景津装备公司 2023 年 12 月 31 日合并及公司的财务状况以及 2023 年度合并及公司的经营成 果和现金流量。 二、形成审计意见 ...

Dividend Distribution and Profit Allocation - The company plans to distribute a cash dividend of 1.06 yuan per share (including tax) based on the total share capital of 576,682,400 shares, totaling 611,283,344 yuan (including tax)[2] - The company's 2023 annual profit distribution plan does not include cash dividends, stock dividends, or capital reserve to share capital conversion, with undistributed profits carried forward to the next year[2] - The company's cash dividend for the year is RMB 611,283,344, accounting for 60.64% of the net profit attributable to ordinary shareholders[122] - The company's total dividend payout ratio for the year is 60.64% of the net profit attributable to ordinary shareholders[122] - The company's cash dividends for 2019, 2020, 2021, 2022, and 2023 were 480 million yuan, 286 million yuan, 330 million yuan, 577 million yuan, and 611 million yuan, respectively, accounting for 116.21%, 55.56%, 50.93%, 69.15%, and 60.64% of the net profit attributable to shareholders in those years[150] Product Applications and Industry Trends - The company's products are widely used in environmental protection, mineral processing, new energy, new materials, sand and gravel aggregates, chemical, biological, food, pharmaceutical, and health products fields[14] - The company's filtration equipment is applied in the mineral processing industry, including coal, iron, gold, silver, copper, aluminum, zinc, nickel, cobalt, manganese, phosphorus, rare earth, kaolin, and graphite sectors[14] - The company's filtration equipment supports green mining trends, including resource utilization of tailings and recycling of mining water[14] - The company's products align with the large-scale, energy-saving, green, and intelligent development trends in the mining machinery industry[14] - The company's filtration equipment is part of the national encouragement for the development of energy-saving, efficient, and environmentally friendly production technologies[14] - The company's filtration equipment and sand-wastewater zero-discharge treatment systems have been applied in large-scale sand and gravel projects, with potential for increased market penetration as the industry consolidates[16] - The company's filtration equipment has been applied in the new energy sector, including lithium batteries, photovoltaics, and hydrogen energy, with significant growth in demand driven by the expansion of the lithium battery industry[152] - The company's filtration equipment is also used in the recycling of lithium batteries, with applications in wet recycling processes, and has been commercially applied both domestically and internationally[152] - The company's filtration equipment is widely used in the chemical industry, which saw a 2.7% decline in revenue to 9.27 trillion yuan and a 31.2% decline in profit to 486.26 billion yuan in 2023[152] - The company's filtration equipment is applied in the sand and gravel aggregate industry, which saw a 4.49% decline in demand to 15.172 billion tons in 2023[152] - The company's products are widely used in the mineral processing, new energy, and new materials industries, driving continuous performance growth[194] - The company's filtration equipment is applied in new energy fields such as lithium batteries, photovoltaics, and hydrogen energy, expanding downstream market space[194] Financial Performance and Metrics - The company's R&D expenses increased by 13.81% to 210,426,000.99 yuan in 2023[28] - Net cash flow from operating activities decreased by 73.79% to 268,029,962.68 yuan in 2023[28] - Accounts receivable financing increased by 194.43% to 82,686,081.82 yuan in 2023[23] - Contract assets grew by 41.89% to 128,364,067.67 yuan in 2023[23] - The company's short-term borrowing stood at 200,140,555.55 yuan, accounting for 2.32% of total assets in 2023[23] - The company's revenue growth is attributed to continuous order increases and expanding production scale[28] - Total revenue for the fiscal year reached 4,884,605,174.23 RMB, with a year-over-year increase of 29.10%[30] - Revenue from diaphragm filter presses, a key product, amounted to 3,944,771,045.19 RMB, marking a 31.11% increase compared to the previous year[30] - Domestic sales revenue was 5,913,352,224.28 RMB, with a 30.62% increase in operating costs[30] - International sales revenue stood at 318,329,586.38 RMB, with a 54.37% increase in operating costs[30] - Direct sales revenue reached 6,231,681,810.66 RMB, showing a 31.83% increase year-over-year[30] - The company achieved a revenue of 6.249 billion yuan in 2023, a year-on-year increase of 9.98%, and a net profit attributable to shareholders of 1.008 billion yuan, a year-on-year increase of 20.89%[96] - The net cash flow from operating activities was 268 million yuan, a year-on-year decrease of 73.79%, mainly due to reduced cash receipts from product sales and increased cash payments for employee salaries[96] - Revenue for 2023 reached 6,249,319,078.33 RMB, a 9.98% increase compared to 2022[164] - Net profit attributable to shareholders in 2023 was 1,008,089,458.88 RMB, up 20.89% year-over-year[164] - Operating cash flow in 2023 decreased by 73.79% to 268,029,962.68 RMB compared to 2022[164] - Total assets at the end of 2023 were 8,628,787,997.62 RMB, an 8.18% increase from 2022[164] - Basic earnings per share for 2023 were 1.78 RMB, a 19.46% increase from 2022[164] - Revenue in Q4 2023 was 1,601,388,521.39 RMB, showing steady growth across quarters[165] - The company achieved a revenue of 6.249 billion yuan, a year-on-year increase of 9.98%, and a net profit attributable to shareholders of 1.008 billion yuan, a year-on-year increase of 20.89%[194] - Revenue for the period increased by 9.98% to 6,249,319,078.33 RMB compared to the same period last year[200] - Operating costs rose by 8.37% to 4,265,327,595.67 RMB year-over-year[200] - Sales expenses grew by 6.80% to 285,858,877.31 RMB[200] - Management expenses decreased by 18.80% to 165,913,428.14 RMB[200] R&D and Innovation - The company holds 874 domestic patents and 29 international invention patents as of the end of 2023[26] - The company increased its R&D investment, successfully advancing key national research projects such as the "Solid Waste Resource Utilization" sub-project[194] - The company has a robust R&D system and has undertaken significant national research projects, including those related to water pollution control and treatment[198] Market and Competitive Position - The company's business scale in the mineral and processing fields has been expanding in recent years[14] - The company's market share in the solid-liquid separation equipment industry is increasing, with filter presses gradually replacing other filtration equipment in some industries[101] - The company's export volume of filter presses significantly exceeds import volume, indicating strong global competitiveness[101] - The company's revenue growth was driven by high demand from new energy and new materials industries, as well as the development of new products and expansion into new industry applications[96] - The company is recognized as a "National Manufacturing Single Champion Demonstration Enterprise" and has a strong competitive position in the filtration equipment industry[198] Operational and Investment Activities - The company's investment in Bo Tian stock resulted in a loss of 7,264 RMB due to fair value changes[40] - The total investment for the first phase of the filtration equipment industrialization project is approximately 1.28 billion yuan, with partial production already achieved[66] - The total investment for the second phase of the filtration equipment industrialization project is approximately 480 million yuan, with construction expected to be completed by February 2026[66] - The company actively promoted the construction of the first phase of the filtration equipment industrialization project and acquired land use rights for the second phase project on December 24, 2023[150] - The company's stock investments resulted in a fair value change loss of 7,264 yuan, with a total purchase amount of 167,379 yuan and a total sale/redemption amount of 151,489 yuan, leaving an ending balance of 8,626 yuan[187] Corporate Governance and Compliance - The company's 2020 restricted stock incentive plan was approved during the third board meeting on September 13, 2020[61] - The company's cash dividend policy complies with the articles of association and shareholder meeting resolutions, with clear standards and proportions[60] - The company's 2023 first extraordinary general meeting approved the remuneration for the fourth board of directors and supervisors[76] - The company's 2022 annual general meeting approved the 2022 financial report and profit distribution plan[76] - The company's 2023 second extraordinary general meeting approved changes to the business scope and amendments to the articles of association[76] - The company's current and former directors, supervisors, and senior management personnel have no changes in shareholding or remuneration during the reporting period[78] - The company has not been subject to any penalties from securities regulatory authorities in the past three years[81] - The company maintains independence in assets, personnel, finance, and operations from its controlling shareholders[47] Employee and Organizational Structure - The company's total number of employees is 5,476, with 3,983 production personnel, 538 sales personnel, 560 technical personnel, 28 financial personnel, and 367 administrative personnel[87] - The company's employee education level distribution is: bachelor's degree or above (300), college degree (820), and high school or below (4,356)[87] Industry and Policy Environment - China's food industry achieved revenue of 9.0 trillion yuan in 2023, a 2.5% year-on-year increase, with the company's filtration equipment contributing to green development in the sector[16] - The global pharmaceutical market is expected to grow at a CAGR of 5%-8% over the next five years, reaching approximately 2.3 trillion USD by 2028, with emerging markets and aging populations driving growth[16] - The global usage of power batteries for new energy vehicles in 2023 reached 705.5GWh, a year-on-year increase of 38.6%[152] - The company aims to increase the comprehensive utilization rate of bulk industrial solid waste to 57% by 2025, with specific targets for metallurgical slag and industrial by-product gypsum at 73%[196] - By 2025, the national water consumption per 10,000 RMB of industrial added value is targeted to decrease by 16% compared to 2020 levels[196] - The company's filtration equipment is widely used in industrial wastewater treatment and recycling, benefiting from the goal to increase the industrial water reuse rate to around 94%[196] - The company's products are expected to see increased demand in rural sewage treatment due to national policies aimed at improving rural environmental infrastructure[196] Subsidiaries and Related Entities - The subsidiary Beijing Wuxing Trading Co., Ltd. reported total assets of RMB 697,295,758.74, net assets of RMB 655,892,813.49, and annual revenue of RMB 2,411,691,172.06[118] - The company's subsidiary Beijing Wuxing Trading Co., Ltd. reported a net profit of RMB 155,687,513.91 for the year[118] Non-Recurring Items and Government Subsidies - The company received government subsidies of RMB 15,345,519.16, which are classified as non-recurring gains and losses[146] - The company's non-recurring gains and losses from the disposal of non-current assets amounted to RMB 9,193,482.68[146] Cost Structure and Profitability - Material costs for filter press and related equipment accounted for 78.26% of total costs in 2023[178] - Labor costs for filter press and related equipment increased by 13.49% in 2023 compared to 2022[178] - The company's gross profit margin increased due to lower prices of key raw materials such as polypropylene and steel, contributing to a higher net profit growth rate compared to revenue growth[96] - The company's sales gross margin increased due to lower prices of key raw materials like polypropylene and steel, contributing to a higher net profit growth rate compared to revenue growth[194] Customer and Sales Data - Sales to the top five customers accounted for 4.70% of total annual sales, with no related party sales[178] - The company's top five customers accounted for 1.25%, 0.91%, 0.90%, 0.85%, and 0.79% of the total annual sales, with sales amounts of 77,996,814.16 yuan, 56,622,662.25 yuan, 56,543,563.69 yuan, 53,041,897.68 yuan, and 49,567,903.53 yuan respectively[180] Product Portfolio and Technological Improvements - The company's product portfolio includes various filtration equipment such as filter presses, feed plunger pumps, belt conveyors, and spiral conveyors, with continuous technological improvements[194] - The company is classified under the general equipment manufacturing industry (code: C34) according to the China Securities Regulatory Commission's industry classification guidelines[185] Return on Equity and Shareholder Value - The weighted average return on equity (ROE) for the year is 23.53%, an increase of 0.74 percentage points compared to the previous year[143] - The company's weighted average return on equity (ROE) after deducting non-recurring gains and losses is 23.05%, an increase of 0.51 percentage points compared to the previous year[143] - The company's net profit attributable to ordinary shareholders for the year is RMB 1,008,089,458.88[122] Asset and Financial Position - The company's accounts receivable financing increased from 28,083,358.53 yuan to 82,686,081.82 yuan, a rise of 54,602,723.29 yuan[148] - The company's total assets increased from 28,083,358.53 yuan to 82,694,707.82 yuan, a rise of 54,611,349.29 yuan[148] - The company's trading financial assets increased by 8,626.00 yuan, but had a negative impact on current profits of -7,264.00 yuan[148] Executive Compensation and Shareholder Meetings - The total compensation for directors, supervisors, and senior management was 6,000,100 RMB for the fiscal year[52] - The company's 2023 first extraordinary general meeting approved the remuneration for the fourth board of directors and supervisors[76] - The company's 2022 annual general meeting approved the 2022 financial report and profit distribution plan[76] - The company's 2023 second extraordinary general meeting approved changes to the business scope and amendments to the articles of association[76]