TGC(SZ:300265)2024-07-31 11:52Financial Performance - The total operating revenue for 2023 was CNY 2,347,118,456.8, representing a year-on-year increase of 12.67% compared to CNY 2,083,122,932.7 in 2022[27]. - The net profit attributable to shareholders for 2023 was ¥101,434,587.59, up 24.13% from ¥81,713,965.46 in 2022[81]. - Total revenue for the first quarter was approximately RMB 546.4 million, with a net profit attributable to shareholders of RMB 28.9 million[46]. - In the second quarter, total revenue increased to approximately RMB 674.0 million, with a net profit attributable to shareholders of RMB 32.7 million[46]. - The third quarter saw total revenue of approximately RMB 573.7 million, with a net profit attributable to shareholders of RMB 32.9 million[46]. - The fourth quarter reported total revenue of approximately RMB 553.1 million, but net profit attributable to shareholders dropped to RMB 7.0 million[46]. - The gross profit margin for the wire, cable, optical cable, and electrical machinery manufacturing industry was 17.77%, reflecting a 0.24% increase compared to the same period last year[104]. Sales and Production - The sales volume of fiber optic cables decreased by 20.62% to 205,789 kilometers in 2023, down from 259,243 kilometers in 2022[12]. - The sales volume of power transmission cables increased by 56.63% to 65,791 tons in 2023, compared to 42,005 tons in 2022[12]. - The production volume of power transmission cables also increased by 48.56% to 64,949 tons in 2023, up from 43,720 tons in 2022[12]. - The revenue from power transmission cables accounted for 54.71% of total revenue in 2023, up from 42.48% in 2022[27]. Research and Development - The company invested CNY 95.95 million in R&D, accounting for 4.09% of its revenue, and completed 36 R&D projects with 48 new patents granted[77]. - The company holds 301 patents and has participated in drafting 10 international IEC standards, establishing a strong technological advantage in the cable industry[74]. - The company completed several R&D projects aimed at domestic substitution, enhancing product competitiveness, including special specifications for aviation cables and high-temperature resistant optical cables[130]. - The company is actively involved in the development of advanced cable technologies, including low-loss coaxial RF cables, which have reached international standards[95]. - The number of R&D personnel increased by 11.73% to 200, with 20.51% of them holding a bachelor's degree[117]. Cash Flow and Investments - The net cash flow from operating activities for the fourth quarter was RMB 218.2 million, contrasting with negative cash flows in the first three quarters[46]. - The total cash inflow from operating activities for 2023 was ¥2,388,372,433.16, an increase of 18.75% compared to ¥2,011,178,218.27 in 2022[144]. - The net cash flow from operating activities rose by 34.67% to ¥118,467,526.55, primarily due to increased cash receipts from sales[144]. - The company reported a net increase in cash and cash equivalents of ¥273,842,856.51, a 904.84% increase compared to the previous year[122]. Market Position and Strategy - The company plans to continue focusing on the research and development of special cables and expand its market presence[10]. - The company aims to strengthen its sales team and market development efforts to maintain steady sales growth[26]. - The company is focusing on expanding its market presence and developing new technologies[52]. - The electric cable industry in China is expected to see stable growth due to ongoing investments in smart grid and high-voltage transmission projects, with a projected investment of CNY 560 billion in new transmission capacity[68]. Financial Management and Compliance - The company has engaged CITIC Securities as its sponsor for continuous supervision until December 31, 2025[44]. - The company has established a performance management system to enhance employee motivation and improve work quality[22]. - The company has not reported any litigation related to derivative investments during the reporting period[162]. - The company has ensured effective supervision and management of the raised funds to support investment project construction[171].