Financial Performance - For the fiscal year ending December 31, 2023, the company achieved a revenue of RMB 84.72 billion, representing a growth of RMB 5.96 billion or 7.57% compared to RMB 78.76 billion in the previous year[3]. - The net profit attributable to the parent company for the same period was RMB 2.45 billion, an increase of RMB 127 million or 5.47% from RMB 2.32 billion in the prior year[3]. - The total operating costs for the year were RMB 78.05 billion, up from RMB 72.59 billion, indicating an increase of RMB 5.46 billion or 7.52%[4]. - The company reported a total profit of RMB 7.07 billion, up from RMB 6.24 billion, reflecting a growth of RMB 830 million or 13.31%[4]. - The earnings per share for the year were RMB 0.311, slightly up from RMB 0.301 in the previous year, indicating a growth of 3.32%[5]. - The company’s total comprehensive income for the year was RMB 6.85 billion, compared to RMB 5.76 billion, reflecting an increase of RMB 1.09 billion or 18.93%[5]. - The operating profit for 2023 was reported at ¥6.19 billion, up from ¥5.19 billion in 2022, indicating a growth of approximately 19.2%[24]. - The net profit attributable to shareholders for 2023 was approximately ¥2.32 billion, compared to ¥2.22 billion in 2022, reflecting a growth of about 4.5%[24]. - Net profit for 2023 was CNY 6.69 billion, compared to CNY 5.87 billion in 2022, reflecting a year-on-year increase of about 13.8%[31][33]. Research and Development - Research and development expenses rose significantly to RMB 7.57 billion, compared to RMB 5.99 billion in the previous year, marking an increase of RMB 1.58 billion or 26.36%[4]. - The company continues to focus on research, development, and production of aviation products, indicating ongoing investment in innovation and market expansion strategies[15]. - Research and development expenses amounted to RMB 7.573 billion, an increase of RMB 1.577 billion or 26.30% year-on-year, reflecting a commitment to enhancing technological innovation[75]. Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 144.72 billion, compared to RMB 140.93 billion at the end of 2022, showing an increase of RMB 3.79 billion or 2.69%[7]. - The company’s cash and cash equivalents decreased to RMB 39.50 billion from RMB 43.77 billion, a decline of RMB 4.27 billion or 9.75%[7]. - As of December 31, 2023, total assets amounted to RMB 185,018,195,632, an increase from RMB 179,122,036,966 as of December 31, 2022, reflecting a growth of approximately 5.0%[9]. - The total liabilities amounted to RMB 96,962,393,426, down from RMB 103,602,752,288, showing a decrease of about 6.2%[13]. - Current liabilities decreased to RMB 85,536,323,784 from RMB 96,107,490,004, representing a reduction of approximately 11.6%[13]. - Long-term borrowings rose significantly to RMB 6,067,549,104 from RMB 2,121,629,735, marking an increase of about 186.5%[13]. - Shareholders' equity totaled RMB 88,055,802,206, compared to RMB 75,519,284,678, reflecting an increase of approximately 16.5%[13]. Cash Flow - The company reported a cash flow from operating activities of approximately ¥10.22 billion for 2022, slightly down from ¥10.36 billion in 2021[24]. - In 2023, the company's net cash outflow from operating activities was RMB 4.083 billion, a decrease of RMB 14.304 billion compared to a net inflow of RMB 10.221 billion in 2022, representing a change rate of -139.95%[94]. - The net cash outflow from investing activities in 2023 was RMB 3.614 billion, an increase of RMB 699 million from RMB 2.915 billion in 2022, with a change rate of -23.98%[94]. - The net cash inflow from financing activities in 2023 was RMB 3.548 billion, an increase of RMB 136 million from RMB 3.412 billion in 2022, reflecting a change rate of 3.99%[94]. Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[3]. - The company plans to expand its market presence in mainland China, with significant revenue contributions from both aircraft and supporting systems[26]. - The company aims to accelerate the development of new aircraft and expand its international market presence, with the Y-12F aircraft receiving certification from the European Union Aviation Safety Agency (EASA)[88]. - The company plans to enhance its core competitiveness and promote high-quality development by focusing on technological innovation and strategic industry integration in 2024[91]. Dividends and Shareholder Information - The proposed final dividend per share is RMB 0.088, an increase from RMB 0.08 in the previous year[53]. - The board proposed a final dividend of RMB 701,611,173 for the fiscal year 2023, equating to RMB 0.088 per share, an increase from RMB 0.08 per share in 2022[118]. - The final dividend will be distributed to shareholders listed by June 5, 2024, with a record date set for May 31, 2024[118]. - The company will hold its annual general meeting on May 21, 2024, where shareholders will vote on the proposed dividend[120]. Corporate Governance - The company has established an Audit and Risk Management Committee to oversee financial operations and audit procedures[121]. - The Audit and Risk Management Committee has reviewed the annual performance and consolidated financial statements for the year ending December 31, 2023[122]. - The company has confirmed compliance with the corporate governance code as of the fiscal year ending December 31, 2023[123]. - All directors and supervisors have confirmed adherence to the standard code for securities trading in 2023[124].
中航科工(02357) - 2023 - 年度业绩