Revenue and Profitability - Revenue increased by approximately 14.9% to about RMB 1,054.7 million[1] - Net profit attributable to shareholders was approximately RMB 31.5 million, with basic and diluted earnings per share of approximately RMB 1.94 and RMB 1.93, respectively[1][39][40] - Gross profit rose by approximately 28.3% to about RMB 335.5 million, with a gross margin increase from approximately 28.5% to about 31.8%[1][10] - The total comprehensive income for the year was approximately RMB 23.8 million, compared to RMB 18.8 million in the previous year[37] - The net profit attributable to the parent company increased by approximately 31.3% from about RMB 24.0 million in 2022 to about RMB 31.5 million in 2023, primarily due to revenue growth[152] Expenses and Costs - Administrative expenses increased by approximately 18.9% to about RMB 138.4 million, primarily due to asset depreciation and an increase in personnel for self-produced IGBTs[23] - Research and development costs increased to approximately RMB 113.6 million from RMB 90.1 million in the previous year[27] - The cost of goods sold for 2023 was RMB 719,174 thousand, compared to RMB 656,379 thousand in 2022, indicating an increase of approximately 9.5%[76] - The total employee benefits expense increased to RMB 124,115 thousand in 2023 from RMB 106,806 thousand in 2022, marking a rise of approximately 16.1%[76] - Interest expense on bank loans for 2023 was RMB 7,745 thousand, up from RMB 7,283 thousand in 2022, reflecting an increase of about 6.3%[78] Assets and Liabilities - Non-current assets increased to RMB 844,023 thousand in 2023 from RMB 753,542 thousand in 2022, representing an increase of approximately 12%[43] - Current assets rose to RMB 1,993,430 thousand in 2023, up from RMB 1,743,081 thousand in 2022, reflecting an increase of about 14.4%[43] - Total current liabilities increased to RMB 691,655 thousand in 2023 from RMB 408,869 thousand in 2022, representing a rise of approximately 69%[43] - Non-current liabilities rose to RMB 224,137 thousand in 2023, up from RMB 173,806 thousand in 2022, reflecting an increase of approximately 29%[45] - Cash and cash equivalents increased to RMB 799,300 thousand in 2023 from RMB 618,768 thousand in 2022, marking a growth of approximately 29.2%[43] Inventory and Receivables - Inventory rose by approximately 41.0% to about RMB 229.9 million, mainly due to increased stocking at the end of the period[12] - The total accounts receivable amounted to RMB 741,768,000, an increase from RMB 654,024,000 in the previous year, reflecting a growth of approximately 13.4%[91] - The company reported a net value of trade receivables after impairment of RMB 727,260,000, compared to RMB 642,202,000 in the previous year, indicating a growth of approximately 13.3%[91] - The average inventory turnover days decreased from approximately 112 days in 2022 to about 107 days in 2023[154] - The company's trade receivables increased by approximately 2.1% from about RMB 798.2 million in 2022 to about RMB 814.6 million in 2023, attributed to revenue growth[155] Taxation - The total tax expense for the year 2023 amounted to RMB 22,008 thousand, an increase from RMB 15,859 thousand in 2022, representing a growth of approximately 38%[69] - The effective tax rate calculated based on the actual rates was RMB 23,384 thousand for mainland China, with a total tax expense of RMB 22,008 thousand after adjustments[72] Market Performance - The company maintained a competitive edge in the national grid power capacitor procurement, achieving a revenue growth of approximately 14% in this segment compared to the previous year[20] - The company's revenue in the power distribution sector for the year ended December 31, 2023, was RMB 416,381,000, representing a 29% increase from RMB 322,671,000 in 2022[105] - The revenue from ultra-high voltage direct current transmission increased by 50% to RMB 192,721,000 in 2023, compared to RMB 128,852,000 in 2022[105][106] - In 2023, the company's revenue from foreign markets increased by approximately 80% compared to 2022, primarily due to the sales growth of marine solid-state DC circuit breakers and the acquisition of KWx, now renamed Astrolkwx[139] Research and Development - The company continues to focus on R&D in power semiconductors, aiming to enhance market coverage and export scale in 2024[162] - The company has initiated the development of multiple series of chips and modules with voltages of 1200V and 1700V, expected to be launched in 2024[116] - Research and development costs increased by approximately 26.1% from about RMB 90.1 million for the year ended December 31, 2022, to about RMB 113.6 million for the year ended December 31, 2023, mainly due to increased R&D costs for self-produced IGBT and energy storage integrated busbar products[177] Shareholder Information - The company did not declare any dividends for the year ending December 31, 2023, consistent with the previous year[81] - The average number of ordinary shares issued during the year was 1,629,108,942, slightly down from 1,635,080,505 in the previous year[90] - The company repurchased a total of 15,766,000 shares at an approximate total cost of HKD 18,199,039 since the beginning of 2024[193]
赛晶科技(00580) - 2023 - 年度业绩