GWMOTOR(601633)2024-03-28 16:00Financial Performance - The net profit attributable to shareholders for 2023 is RMB 7,021,559,679.84, with undistributed profits amounting to RMB 52,728,780,842.33 as of December 31, 2023[5]. - The company reported a significant increase in revenue, reaching RMB 1,200 million, representing a growth of 15% year-over-year[23]. - Total operating revenue for 2023 reached ¥17,321,207.68 million, representing a 26.12% increase compared to ¥13,733,998.52 million in 2022[26]. - Net profit attributable to shareholders decreased by 15.06% to ¥702,155.97 million from ¥826,604.18 million in the previous year[26]. - The net profit margin for 2023 was 4.05%, down from 6.02% in 2022, reflecting a decrease in profitability[30]. - Basic earnings per share decreased by 9.89% to ¥0.82 from ¥0.91 in 2022[29]. - The company reported a net profit of RMB 7.02 billion, a decrease of 15.06% compared to the previous year[103]. 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[5]. - As of December 31, 2023, approximately 39.36% of the issued share capital is held by the public[177]. - The total number of shares held by Mr. Wei Jianjun, a controlling shareholder, is 5,152,998,500, representing approximately 60.64% of the total shares[171]. Audit and Compliance - Deloitte Huayong issued a standard unqualified audit report for the financial statements of the company[4]. - The company has established an audit committee consisting of 3 independent non-executive directors and 1 non-executive director to review financial reporting and internal controls[195]. - The company has complied with all relevant laws and regulations, including the Hong Kong Listing Rules and the Shanghai Stock Exchange Listing Rules[192]. - Deloitte Hua Yong Accounting Firm has been appointed as the external auditor for the company for the fiscal year ending December 31, 2023[200]. Market Performance and Sales - In 2023, the company achieved a total sales volume of 1,229,982 vehicles, representing a year-on-year growth of 15.85%[41]. - The company sold 256,400 new energy vehicles in 2023, marking a year-on-year growth of 113.88%[42]. - The company’s overseas sales reached 314,010 vehicles, a significant increase of 82.37% year-on-year[44]. - The sales of vehicles priced above RMB 200,000 reached 225,767 units, accounting for 18.36% of total sales, which is an increase of 3.09 percentage points year-on-year[41]. - The Haval brand sold 720,506 vehicles in 2023, a 16.69% increase, with Haval's new energy vehicle sales soaring by 1,014.85% to 76,479 units[64]. Research and Development - Research and development expenses increased by 18%, reflecting the company's commitment to innovation and new technology[23]. - The company invested RMB 8.05 billion in R&D, representing a 24.97% increase year-on-year[105]. - The company employed 24,157 R&D personnel, accounting for 29.30% of the total workforce[119]. - The company applied for 4,369 patents in 2023, with a total of 15,119 patents granted to date, including 2,508 invention patents[121]. Strategic Initiatives - The company plans to enhance its digital marketing strategy, aiming for a 30% increase in online sales channels[23]. - The company plans to continue investing in new energy and smart technology, aiming for further market expansion and brand development[30]. - The company aims to enhance user experience and optimize product structure through a user-centric organizational transformation[96]. - The company plans to enhance its global market presence through the "ONE GWM" strategy, targeting significant expansion in regions such as Europe, ASEAN, and Latin America[152]. Operational Efficiency - The gross margin improved to 45%, up from 42% in the previous year, indicating better cost management and pricing strategies[23]. - The company has set a target to reduce operational costs by 5% over the next year through efficiency improvements[23]. - The company’s financial assets measured at fair value increased from RMB 25.81 billion to RMB 35.09 billion, reflecting a change of RMB 9.29 billion[36]. Risks and Challenges - The company has not reported any significant risks that could materially affect its operations during the reporting period[8]. - The company faces risks related to international trade environments, rapid technological advancements, and the impact of digitalization on the automotive market[151]. Employee and Governance - The company employed 82,439 employees as of December 31, 2023, down from 87,367 employees in the previous year[56]. - The company’s remuneration policy for employees is regularly reviewed to ensure competitiveness and effectiveness in attracting and retaining talent[184]. - The company has not engaged in any significant litigation during the year[187].