JYL Group(002882)2024-04-12 16:00Financial Performance - The company's operating revenue for 2023 was approximately ¥3.93 billion, a decrease of 1.03% compared to ¥3.97 billion in 2022[19]. - Net profit attributable to shareholders for 2023 was approximately ¥163.21 million, down 26.44% from ¥221.87 million in 2022[19]. - The net cash flow from operating activities decreased by 57.89% to approximately ¥200.01 million in 2023, compared to ¥474.95 million in 2022[19]. - Basic earnings per share for 2023 were ¥0.377, a decline of 26.44% from ¥0.513 in 2022[19]. - The net profit after deducting non-recurring gains and losses for 2023 was approximately ¥156.12 million, a decrease of 28.20% from ¥217.43 million in 2022[19]. - The company achieved operating revenue of CNY 3.93 billion in 2023, a decrease of 1.03% compared to the previous year[45]. - Net profit for the year was CNY 163 million, down 26.44% year-on-year, primarily due to a full impairment loss provision of CNY 47 million related to receivables from Evergrande Group[45]. Assets and Liabilities - Total assets at the end of 2023 increased by 17.42% to approximately ¥3.29 billion, compared to ¥2.80 billion at the end of 2022[19]. - Net assets attributable to shareholders at the end of 2023 were approximately ¥2.09 billion, an increase of 4.13% from ¥2.01 billion at the end of 2022[19]. - Cash and cash equivalents increased to ¥587,537,651.31, making up 17.87% of total assets, up from 14.42% at the beginning of the year, indicating improved management of accounts receivable[61]. - Accounts receivable decreased to ¥1,117,330,633.59, representing 33.99% of total assets, down from 36.23% at the beginning of the year[61]. - Inventory decreased to ¥588,343,178.04, accounting for 17.90% of total assets, down from 21.36% at the beginning of the year[61]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of ¥2 per 10 shares, based on a total of 432.9 million shares[4]. - The total cash dividend proposed is CNY 86,580,000, which represents 100% of the total profit distribution amount[129]. - The total number of shares is 432.9 million, with 43.02% being restricted shares and 56.98% being unrestricted shares[181]. - The company has a total of 33,744 shareholders at the end of the reporting period[188]. Market Position and Strategy - The electric wire and cable industry in China had a market size of approximately CNY 1.2 trillion as of 2022, with the company positioned as a leading player in this sector[30]. - The company focuses on high-value products such as low-smoke halogen-free cables and fire-resistant cables, which are expected to drive future growth[34]. - The company is strategically positioned to benefit from the "Belt and Road" initiative, which is expected to expand export opportunities for its products[32]. - The company aims to enhance its innovation capabilities and product structure, focusing on high-end product development to improve its competitive edge in the market[32]. - The company is actively expanding its market presence by enhancing cooperation with large enterprises and reducing credit risks, including new strategic partnerships with China State Construction[46]. Research and Development - The company maintains a strong R&D focus, with a team of experienced professionals and advanced production equipment, leading to innovations in fire-resistant cable technology[41]. - The company is focusing on developing new products such as solid-state batteries and silicon-carbon anode materials to enhance energy density and safety[55]. - The company has completed several R&D projects, including low-smoke halogen-free materials and high-temperature resistant cables, to improve market competitiveness[54]. - R&D investment increased by 129.94% to ¥47,335,891.12 in 2023, accounting for 1.20% of operating revenue, up from 0.52% in 2022[55]. Risk Management - The company faces risks including raw material price fluctuations, market competition, and management risks, which are detailed in the report[4]. - The company engaged in hedging activities to mitigate market risks associated with raw material price fluctuations, which is deemed necessary for reducing operational risks[75]. - The company maintains a cautious approach to managing risks associated with derivative investments, including market, liquidity, and operational risks[74]. Governance and Management - The company has a strong management team with over ten years of industry experience, enabling quick adjustments to market changes[42]. - The company has maintained a consistent management structure, with all current directors and supervisors in their positions until at least 2027[100]. - The company is committed to maintaining transparency and stability in its governance structure, as evidenced by the lack of changes in key personnel[100]. - The company has a structured governance framework with independent directors and a diverse management team, which may enhance decision-making processes[108][109]. Employee and Training - The total number of employees at the end of the reporting period was 824, with 522 in production, 101 in sales, and 77 in technical roles[125]. - The company has implemented a training plan for new employees, including various safety and legal training sessions[128]. - The company has established a comprehensive mechanism to protect employee rights and promote their development[144]. Compliance and Legal Matters - The company has not faced any administrative penalties related to environmental issues during the reporting period[141]. - The company has no violations regarding external guarantees during the reporting period[152]. - The integrity status of the company and its controlling shareholders remains good, with no major debts overdue or unfulfilled court judgments[159]. Financial Oversight - The company reported a total audit fee of RMB 880,000 for the year 2023, which includes RMB 700,000 for annual report audit and RMB 180,000 for internal control audit[155]. - The audit committee held 7 meetings, focusing on the review of financial reports and internal audit plans for 2023[122]. - The company plans to continue enhancing its internal control and audit processes to improve operational efficiency[121].