Financial Performance - The net profit attributable to shareholders for the year 2023 is RMB 7,021,559,679.84, with undistributed profits amounting to RMB 52,728,780,842.33 as of December 31, 2023[3]. - Total revenue for 2023 reached RMB 17,321.21 million, a 26.12% increase from RMB 13,733.99 million in 2022[25]. - Net profit attributable to shareholders decreased by 15.06% to RMB 702.16 million from RMB 826.60 million in 2022[25]. - Operating cash flow increased by 44.21% to RMB 1,775.38 million compared to RMB 1,231.13 million in the previous year[25]. - The company reported a net profit of RMB 483.37 million after deducting non-recurring gains and losses, reflecting a 7.98% increase from RMB 447.65 million in 2022[25]. - The basic earnings per share for 2023 was CNY 0.82, down 9.89% from CNY 0.91 in 2022[27]. - The gross profit margin was 18.73%, a decrease of 0.64 percentage points from the previous year[39]. - Operating profit was RMB 7.20 billion, a decrease of 9.62% year-on-year[90]. - The net profit attributable to shareholders decreased by 15.06% to RMB 7.02 billion, with basic earnings per share at RMB 0.82[39]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of RMB 0.30 per share (including tax) to all shareholders, pending approval at the 2023 annual general meeting[3]. - The proposed cash dividend for the year 2023 is RMB 0.30 per share (tax included), subject to approval at the annual general meeting scheduled for May 10, 2024[138]. - As of December 31, 2023, the total number of shares held by Mr. Wei Jianjun is 5,152,998,500, representing approximately 60.64% of the total shares[143]. - The company has sufficient public shareholding, with approximately 39.36% of the issued share capital held by the public[147]. Operational Highlights - The company achieved a sales volume of 1,229,982 vehicles in 2023, representing a year-on-year growth of 15.85%[34]. - The total vehicle sales for 2023 amounted to 1,229,982 units, reflecting a year-on-year growth of 15.85%[52]. - The company sold 256,400 new energy vehicles in 2023, a year-on-year increase of 113.88%[35]. - The average revenue per vehicle sold was RMB 141,400, up by RMB 12,000 year-on-year, marking a historical high[34]. - The company launched 15 new energy vehicle models in 2023, covering a full range of scenarios and categories[35]. Research and Development - Research and development expenses rose by 24.97% to RMB 805.43 million from RMB 644.52 million in 2022[25]. - The company has accumulated 15,119 authorized patents, including 2,508 invention patents, 9,025 utility model patents, and 3,586 design patents[107]. - The company has a dedicated team for technology research and development, indicating a focus on innovation and market competitiveness[190]. Market Expansion and Strategy - The company plans to expand its market presence and enhance product offerings in the upcoming fiscal year[22]. - The company is focusing on strategic mergers and acquisitions to drive growth and innovation in the automotive sector[22]. - The company plans to continue investing in new energy and intelligent technology to enhance market expansion and brand building[28]. - The company aims to implement a "ONE GWM" global strategy, expanding its market presence in Europe, ASEAN, Latin America, the Middle East, Australia, and South Africa[133]. Corporate Governance - The board of directors and senior management have guaranteed the authenticity, accuracy, and completeness of the annual report[3]. - The company has complied with all principles and provisions of the Corporate Governance Code during the reporting period[156]. - The company has established a Remuneration Committee to propose remuneration policies for directors and senior management, including non-monetary benefits and pension rights[161]. - The company has a strong governance structure with experienced independent directors overseeing compliance and financial management[190]. Risk Management - The company has confirmed that there are no significant risks affecting production and operations during the reporting period[5]. - The report includes a detailed discussion on potential risks and countermeasures related to future development in the management discussion and analysis section[5]. - The company faces risks from changes in international trade environments, rapid technological advancements, and the impact of digitalization on the automotive market[132]. Audit and Compliance - The company has received a standard unqualified audit opinion from Deloitte Huayong Certified Public Accountants[3]. - The Audit Committee has reviewed the 2023 annual report and financial statements, confirming compliance with applicable accounting standards[160]. - The company's financial statements accurately reflect the financial status as of December 31, 2023, with a standard unqualified audit report issued by the accounting firm[176]. Employee and Talent Management - The company employed 82,439 employees as of December 31, 2023, with total employee costs accounting for 10.60% of total revenue[46]. - The company is committed to talent development, establishing a unique and efficient talent cultivation system[89]. - The company has a policy to review and adjust employee compensation to ensure competitiveness in the market[151]. Investor Relations - Over 1,100 participants attended the performance communication meetings following the annual and interim reports, indicating increased investor engagement[178]. - The company conducted 20 investor education activities to enhance communication with retail investors during the reporting period[178]. - The company actively responded to 271 investor inquiries through the Shanghai Stock Exchange's interactive platform[178].
长城汽车(02333) - 2023 - 年度财报