FLAC(002536)2024-04-11 16:00Financial Performance - The company's operating revenue for 2023 reached ¥4,094,872,689.96, representing a 25.69% increase compared to ¥3,258,011,827.04 in 2022[22]. - Net profit attributable to shareholders increased by 211.14% to ¥261,773,720.66 from ¥84,133,312.16 in the previous year[22]. - The net profit after deducting non-recurring gains and losses surged by 321.40% to ¥249,743,975.56, up from ¥59,265,371.27 in 2022[22]. - Cash flow from operating activities increased by 219.14% to ¥315,633,230.32, compared to ¥98,901,268.64 in 2022[22]. - Basic and diluted earnings per share rose to ¥0.50, a 212.50% increase from ¥0.16 in 2022[22]. - Total assets at the end of 2023 amounted to ¥5,061,033,875.92, reflecting a 15.25% increase from ¥4,391,518,114.12 in 2022[22]. - Net assets attributable to shareholders increased by 40.45% to ¥3,230,228,072.40 from ¥2,299,914,502.61 in the previous year[22]. - The company achieved a revenue of 4.095 billion yuan in 2023, representing a year-on-year growth of 25.69%[46]. - The net profit attributable to shareholders reached 262 million yuan, a significant increase of 211.14% year-on-year[46]. - The company achieved operating revenue of CNY 4.095 billion in 2023, representing a year-on-year growth of 25.69%[61]. Revenue Breakdown - Revenue from automotive parts accounted for CNY 4,069,760,922.38, which is 99.39% of total revenue, with a year-on-year growth of 25.42%[64]. - The company reported quarterly revenues of 945.77 million yuan, 1.01 billion yuan, 1.11 billion yuan, and 1.03 billion yuan for Q1 to Q4 respectively[26]. - The sales volume of engine thermal management key components increased by 20.32% to 1,099,990 units in 2023, compared to 914,200 units in 2022[68]. - The sales of new energy, hydrogen fuel cell, and 5G industrial liquid cooling components surged by 82.24% in volume, reflecting strong market demand[68]. - The company reported a total investment of 560 million units for the production of new energy thermal management components in 2024[101]. Market and Product Development - The company is focusing on expanding its product line in the new energy sector, particularly in electronic water pumps and thermal management components[34]. - The company has developed a comprehensive electronic water pump product system, with power ranges from 13W to 16KW and voltage coverage from 12V to 800V[38]. - The company is expanding its application range from automotive to sectors such as 5G base stations, communication equipment, and modern agricultural machinery[118]. - The company is focusing on developing electronic water pumps and temperature control valves, which have seen rapid sales growth during the reporting period[73]. - The company aims to integrate various components into a single product, enhancing efficiency and functionality in its offerings[122]. Research and Development - Research and development expenses increased by 20.30% to ¥240,411,342.56 in 2023, up from ¥199,836,976.50 in 2022[79]. - The company has established partnerships with universities and leading automotive manufacturers to strengthen its R&D capabilities[42]. - The company has established a strong R&D capability with multiple national high-tech enterprises and research centers dedicated to new energy products[53]. - The company has established over 40 ongoing projects in the field of renewable energy applications, including 5G base stations and modern agricultural machinery[127]. - The company has invested 100 million yuan in R&D for new technologies aimed at improving product efficiency[161]. Cash Flow and Financial Management - The net cash flow from operating activities increased by 219.14% to CNY 315,633,230.32, primarily due to enhanced collection of receivables[84]. - The net cash flow from investing activities decreased significantly by 98.25% to CNY 1,148,836.97, attributed to financial investments made during the year[84]. - The net cash flow from financing activities rose by 557.83% to CNY 358,345,760.61, mainly due to the issuance of shares to specific investors, raising CNY 780 million[84]. - The company raised CNY 779,999,999.22 through a specific share issuance, with a net amount of CNY 768,744,513.98 after expenses[97]. - The company plans to use up to 450 million yuan of temporarily idle raised funds for cash management within 12 months[102]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations to maximize shareholder interests[139]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[139]. - The company emphasizes transparent information disclosure, ensuring timely and accurate communication with investors[142]. - The company is actively enhancing its communication with investors to support shareholder returns and maintain market confidence[136]. - The company has a clear governance structure, with separate boards and management teams that operate independently from its controlling shareholders[144]. Shareholder Returns - The company plans to distribute a cash dividend of ¥3 per 10 shares based on a total of 574,785,888 shares[4]. - The cash dividend distribution represents 100% of the total profit distribution amount for the reporting period[195]. - The company reported a distributable profit of 319,848,244.34 RMB for the reporting period[194]. - The board of directors has approved a dividend payout of 0.5 yuan per share, reflecting a commitment to returning value to shareholders[155]. - For the 2023 fiscal year, the proposed cash dividend is 3 RMB per 10 shares, amounting to 172,435,766.40 RMB[195]. Risk Management - The company emphasizes the importance of risk awareness regarding future development statements and potential risks[4]. - The company is actively addressing risks associated with traditional automotive market decline by expanding its new energy vehicle component business[111]. - The company plans to implement centralized procurement strategies to mitigate risks from raw material price fluctuations[112]. - The company is adapting to international trade environment risks by diversifying its currency exposure and enhancing its negotiation power with foreign clients[114]. - The company is focused on increasing R&D efforts to mitigate market risks and enhance investment strategies[185].