EWPT(300115)2024-03-18 16:00Financial Performance - The company achieved a total revenue of 13.722 billion yuan in 2023, with a net profit attributable to shareholders of 85.7028 million yuan, marking a significant increase in net profit despite a revenue decline [10]. - Total revenue for 2023 was approximately ¥13.72 billion, a decrease of 9.74% compared to ¥15.20 billion in 2022 [17]. - Revenue from electronic components was ¥10.13 billion, accounting for 73.83% of total revenue, down 19.63% from the previous year [17]. - Revenue from new energy product components increased by 43.46% to ¥3.54 billion, representing 25.80% of total revenue [17]. - Domestic revenue reached ¥7.27 billion, up 4.52% year-over-year, while overseas revenue fell by 21.77% to ¥6.45 billion [20]. - The gross profit margin for electronic components was 20.31%, down 22.36% from the previous year [20]. - The company sold approximately 9.88 million electronic components, a decrease of 16.94% from 11.89 million units in 2022 [26]. - The company reported a significant increase in production volume for new energy components, with a 31.47% rise to approximately 590,106 units [26]. - Operating cash inflow for 2023 was ¥14,600,834,619.88, a decrease of 8.16% compared to ¥15,897,661,834.14 in 2022 [47]. - Operating cash outflow for 2023 was ¥12,372,373,123.91, a decrease of 17.30% from ¥14,960,669,305.40 in 2022 [47]. - Net cash flow from operating activities increased by 137.83% to ¥2,228,461,495.97 from ¥936,992,528.74 in the previous year [47]. Business Segments - Revenue from the consumer electronics business was 10.132 billion yuan, a decrease of 19.63% year-on-year, while the new XR (AR/VR/MR) project successfully commenced mass production in Q4 2023 [10]. - The revenue from the new energy business reached 3.540 billion yuan, representing a year-on-year growth of 43.46%, accounting for over 25% of the company's total revenue [11]. - In the new energy sector, the company has made significant advancements in hydrogen fuel cell bipolar plates, achieving batch shipments and providing R&D services to major equipment clients [11]. - The Chinese new energy vehicle market experienced a production and sales completion of 9.587 million and 9.495 million units respectively in 2023, with year-on-year growth of 35.8% and 37.9% [7]. Research and Development - The company has filed for 243 new patents during the reporting period, including 92 invention patents, and holds a total of 2,173 valid patents as of December 31, 2023 [15]. - The company is focusing on technological innovation and process optimization, including the development of a new forging process that improves material utilization and reduces energy consumption [11]. - The company has invested CNY 1,237,282,877.56 in R&D, showing an increase from CNY 1,215,590,338.06 in the previous year, reflecting a commitment to innovation [41]. - R&D expenditure accounted for 9.02% of the company's operating revenue in 2023, up from 8.00% in 2022 [44]. - The R&D team has grown to 8,446 personnel, representing an increase of 1.28% from the previous year, with a higher proportion of staff holding bachelor's degrees [41]. Operational Efficiency - The company has accelerated the construction of overseas production bases, with a new factory in Mexico passing customer audits and beginning to accept orders [11]. - A new polishing process was developed, reducing costs by 50% and achieving a yield rate of over 95% [35]. - The company is expanding into the high-end smartphone SIM card socket market with a new ultra-thin design [35]. - The introduction of a new automatic line for PPE products has significantly increased production efficiency and yield [42]. - The company has successfully developed a new top cover product that enhances overall yield and efficiency, expanding its customer base [42]. Financial Management - The total investment amount for the reporting period was ¥2,092,738,357.11, a decrease of 54.47% compared to ¥4,596,034,872.40 in the same period last year [60]. - The company made significant equity investments totaling ¥220,000,000.00 during the reporting period, with a total loss of ¥67,641,113.50 from these investments [60]. - The company has established a financial independence structure with a dedicated finance department and independent accounting system [89]. - The company has a commitment to invest a total of RMB 890.70 million in the Shanghai Lingang New Energy Vehicle project, with 77.70% of the investment completed by the end of the reporting period [79]. Governance and Compliance - The company has established independent governance structures, including a shareholder meeting, board of directors, and supervisory board, in compliance with legal requirements [89]. - The company has a total of 14 directors and supervisors, with varying roles and responsibilities [146]. - The company has maintained compliance with environmental regulations, with no reported penalties during the reporting period [120]. - The company’s fundraising activities in 2022 complied with relevant regulations, with no violations in the storage and use of raised funds [161]. Market Strategy - The company is focusing on developing new materials and manufacturing processes, including high-strength composite materials and 3D printing technology, to improve product efficiency and cost-effectiveness [93]. - The company is accelerating its overseas expansion, with production bases in Vietnam and Mexico already operational, and plans to establish a facility in Europe to meet global delivery demands [96]. - The company has established long-term partnerships with major clients in the consumer electronics and new energy vehicle sectors, focusing on diversifying its customer base to mitigate concentration risks [97]. Employee Management - The company has implemented a new salary incentive system to enhance employee motivation and satisfaction, with 2,790 employees eligible for stock options [14]. - The company’s training program includes onboarding training, job training, and in-service training to enhance employee skills and knowledge [185]. - The company has established a salary adjustment mechanism based on performance evaluations and market conditions [180]. - The total number of employees at the end of the reporting period was 26,933, including 3,815 at the parent company and 23,118 at major subsidiaries [179].