FOUNDERTECH(600601)2024-03-29 16:00Financial Performance - In 2023, Founder Technology achieved a net profit attributable to shareholders of RMB 135,077,224.15, but due to negative retained earnings at year-end, no profit distribution is proposed[6]. - The company's operating revenue for 2023 was approximately ¥3.15 billion, a decrease of 35.59% compared to ¥4.89 billion in 2022[28]. - The net profit attributable to shareholders for 2023 was a loss of approximately ¥423.54 million, compared to a profit of ¥135.08 million in 2022[28]. - The basic earnings per share for 2023 was ¥0.03, recovering from a loss of ¥0.10 in 2022[26]. - The weighted average return on equity for 2023 was 3.70%, with a significant improvement from previous years[26]. - The net cash flow from operating activities for 2023 was approximately ¥480 million, a slight increase of 0.37% from ¥478 million in 2022[28]. - The total assets at the end of 2023 were approximately ¥5.69 billion, a decrease of 1.38% from ¥5.76 billion in 2022[28]. - The net assets attributable to shareholders increased by 11.52% to approximately ¥3.85 billion at the end of 2023[28]. - The company reported a quarterly revenue of approximately ¥872.48 million in Q4 2023, showing a positive trend in revenue growth[32]. - The company received government subsidies amounting to approximately ¥25.51 million in 2023, which positively impacted the financial results[34]. Business Strategy and Development - The company plans to focus on new product introductions and technological advancements in the PCB sector, including developments in HDI and UHD technologies[17]. - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[34]. - The company is focusing on expanding its market presence by targeting domestic large clients and exploring emerging international markets[40]. - The company is investing in the construction of advanced PCB manufacturing facilities to enhance high-end HDI production capacity[40]. - The company aims to enhance its PCB core business by focusing on capacity expansion and improving product technology, quality, and operational capabilities[127]. - The company plans to increase market expansion efforts, targeting major domestic clients and exploring emerging international markets[127]. - The establishment of a European office and increased investment in the US and European markets are part of the strategy to enhance overseas brand exposure and secure more international orders[127]. - The company is committed to high-quality development and aims to become a leading enterprise in the PCB industry[124]. Risk Management - The company has outlined potential risks in its management discussion and analysis section, advising investors to pay attention[8]. - Founder Technology's management emphasizes the importance of investment risk awareness in forward-looking statements[7]. - The company faces risks from global economic fluctuations, which may affect PCB orders and equipment imports[128]. - The PCB industry is experiencing intense competition, and the company must effectively respond to maintain its performance[128]. - The stability of raw material supply and price volatility could adversely affect the company's production stability and profitability[128]. Research and Development - The company added 21 new patents during the reporting period, including 7 invention patents and 14 utility model patents[50]. - The company’s R&D expenses were ¥178,604,353.98, a decrease of 36.46% from ¥281,100,808.73 in the previous year[53]. - Total R&D investment reached 178,604,353.98 yuan, representing 5.67% of total operating income[71]. - The number of R&D personnel is 736, making up 14.31% of the total workforce[72]. - The company is investing heavily in R&D, with a budget allocation of 200 million for new technology development in 2024[149]. Environmental Responsibility - The company has made significant investments in environmental protection facilities, ensuring compliance with national regulations and standards[81]. - The company has established a comprehensive wastewater and air treatment system that operates stably, adhering to ISO14001 standards[78]. - The company reported a total copper emission concentration of 0.03845 mg/L and a total annual emission of 0.01936 tons in Zhuhai[77]. - The company reduced carbon emissions by 3,581.64 tons through the implementation of carbon reduction technologies in production processes[179]. - The company has not faced any major litigation or arbitration matters during the reporting period[173]. Corporate Governance - Founder Technology's board of directors and management have confirmed the accuracy and completeness of the annual report, ensuring no misleading statements or omissions[4]. - The internal control audit report for 2023 received a standard unqualified opinion, indicating effective internal control measures[97]. - The company has established a clear governance structure to ensure independent operation of its board and management[186]. - The company has established specialized committees, including the audit committee, nomination committee, compensation and assessment committee, and strategic committee[162]. - The company has committed to maintaining independent assets, ensuring no occupation of funds or assets by controlling entities[183]. Employee Relations - The company provides various employee benefits, including social insurance, housing funds, and health checks, to promote employee well-being[84]. - The company has established a comprehensive training system to support business development, utilizing a rotation model for management trainees and various integration mechanisms for new employees[87]. - The total number of employees across the parent company and major subsidiaries is 5,143, with 3,441 in production roles[83]. Financial Management - The company has a clear cash dividend policy in accordance with regulatory requirements, ensuring transparency and compliance in its profit distribution practices[89]. - The company adjusted the expected credit loss rate for accounts receivable aged within one year from 5% to 1%, resulting in a reduction of bad debt provision by 33.52 million yuan and an increase in total profit by the same amount for 2023[198]. - The company has not reported any non-operating fund occupation or guarantee violations during the reporting period[198]. - The company has implemented management controls over its subsidiaries, ensuring compliance with regulations and enhancing operational efficiency[95]. Market Outlook - The global PCB industry is expected to see a 15% decline in 2023, but a recovery is anticipated in the second half of the year, with a projected 5% growth in 2024[41]. - The demand for high-layer count PCBs and HDI boards is expected to maintain a relatively high growth rate, with projected CAGRs of 5.5% and 6.2% respectively over the next five years[41]. - Future guidance indicates a projected revenue growth rate of approximately 15% for the upcoming fiscal year[147]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in Q3 2023, representing a 25% year-over-year growth[149].