TDG(600330)2024-04-15 09:21Financial Performance - The company's operating revenue for 2023 was approximately RMB 3.68 billion, a decrease of 18.32% compared to RMB 4.51 billion in 2022[22]. - The net profit attributable to shareholders of the listed company was approximately RMB 324.95 million, down 51.46% from RMB 669.44 million in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 200.11 million, a decrease of 45.49% compared to RMB 367.08 million in 2022[22]. - The company achieved operating revenue of 3,682.12 million RMB in 2023, with a net profit attributable to shareholders of 324.95 million RMB, and a net profit of 200.11 million RMB after deducting non-recurring gains and losses[31]. - Basic and diluted earnings per share decreased by 60.09% to 0.263 RMB in 2023, compared to 0.659 RMB in 2022[24]. - The company reported a net cash flow from operating activities of 433.80 million RMB, a decrease of 42.55% compared to 755.07 million RMB in the previous year[23]. - The company's operating cash flow net amount was CNY 433.80 million, a decrease of 42.55% year-on-year[62]. - The company reported a total R&D expenditure of CNY 251,353,196.04, accounting for 6.83% of total revenue[75]. - The total revenue from the company's main business was CNY 3,514,625.61 million, with a year-on-year decrease of 20.08% and a gross margin reduction of 3.94 percentage points[67]. - The electronic materials manufacturing business achieved sales revenue of CNY 201,187.48 million, a decrease of 24.93% compared to the same period last year, with a gross margin reduction of 8.48 percentage points[65]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.80 per 10 shares to shareholders, with no capital reserve fund conversion to share capital or bonus shares for 2023[5]. - The total cash dividend for the year amounted to 98,008,601.28 RMB, representing 30.16% of the net profit attributable to ordinary shareholders in the consolidated financial statements[155]. - The company has committed to distributing at least 10% of the distributable profit as cash dividends annually, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profit[184]. Assets and Liabilities - The total assets increased by 6.44% year-on-year, reaching 11,588.55 million RMB at the end of 2023, compared to 10,887.07 million RMB at the end of 2022[23]. - The net assets attributable to shareholders increased by 4.25% year-on-year, amounting to 8,127.91 million RMB at the end of 2023, up from 7,796.72 million RMB at the end of 2022[23]. - The company reported cash and cash equivalents of ¥3,059,595,681.28, accounting for 26.40% of total assets, a 5.11% increase from the previous period[79]. - Accounts receivable amounted to ¥2,040,062,953.14, representing 17.60% of total assets, with a slight increase of 1.16% compared to the last period[79]. - The company experienced a significant increase in short-term borrowings, which rose by 95.52% to ¥748,406,583.86, reflecting increased bank loans during the reporting period[80]. - The company's inventory stood at ¥1,268,436,967.40, making up 10.95% of total assets, with a 3.19% increase from the previous period[79]. - The company’s long-term equity investments increased by 18.49% to ¥226,704,147.40, indicating a strategic focus on long-term growth[80]. - The company reported a 245.60% increase in other non-current financial assets, totaling ¥103,680,000.00, due to new investments made during the reporting period[81]. Research and Development - The company focused on enhancing the competitiveness of its magnetic materials through strict quality control and strategic product adjustments, including the development of new products[32]. - The company increased its investment in technology research and development, particularly in the fields of magnetic materials and crystal materials, to maintain a leading position in technology and innovation[31]. - The company has mastered the growth technology of 720 kg C-axis sapphire crystals, with a new breakthrough in A-axis technology[57]. - The company holds nearly 200 patents and software copyrights, with over 100 of them being invention patents, showcasing its strong R&D capabilities[45]. - The company has established a rapid response innovation R&D platform to enhance market responsiveness and customer demand, integrating resources with domestic and international research institutions[54]. - The company has implemented a long-term internal control system for subsidiaries, focusing on risk prevention and effective management[158]. Market Trends and Opportunities - The sapphire material market is entering a growth phase, driven by increased demand from downstream manufacturers and a recovery in the macro economy[40]. - The global sales of new energy vehicles surged by 35.4% to 14.653 million units in 2023, with China's penetration rate reaching 31.6%[36]. - The global magnetic materials market size was valued at 57.9 billion by 2030, with a CAGR of 6.57%[86]. - The demand for sapphire materials in the optical and consumer electronics market is expected to grow significantly, with a projected increase of 30% due to rising market needs for high-quality products[89]. - The company is focusing on high-frequency, low-loss ferrite and metal powder core products to meet the growing demand in the power supply sector[38]. - The company is enhancing its R&D capabilities in magnetic materials to meet the growing demand in sectors such as electric vehicles and renewable energy[85]. Corporate Governance and Management - The company has a diverse management team with extensive experience in various sectors, including finance, technology, and management[129]. - The company has maintained a consistent governance approach, with many directors serving in multiple roles across different entities[132][133]. - The company has seen changes in its board composition, with new appointments in 2023, including positions in semiconductor and technology firms[132][133]. - The company has a structured remuneration system for directors and senior management based on their administrative roles, performance, and industry standards[134]. - The company continues to expand its leadership team, reflecting its growth strategy and commitment to effective governance[132][133]. Environmental and Social Responsibility - The company has been recognized as a water-saving enterprise and a green low-carbon factory in Zhejiang Province, reflecting its commitment to environmental sustainability[173]. - The company has contributed 2 million yuan to the Hai Ning Chao Xiang Common Prosperity Fund as part of its community support initiatives[175]. - The company has invested a total of 2.9335 million yuan in poverty alleviation and rural revitalization projects, benefiting approximately 800 people[175]. - The company has established a comprehensive emergency response plan for environmental incidents, with multiple revisions and local government filings[165]. - The company has developed a specialized waste gas treatment process for magnetic materials, enhancing emission control efficiency[169]. Legal and Compliance - The company has ongoing litigation involving a claim for payment of 84.28 million yuan plus interest, with a court hearing scheduled for June 12, 2023[187]. - The company has not faced any major litigation or arbitration matters that have not been disclosed in temporary announcements[186]. - The company has maintained a good integrity status with no significant violations reported during the reporting period[190]. - The company has not reached the original profit forecast for any assets or projects during the reporting period[184]. - The company has not faced any risks of delisting or bankruptcy reorganization during the reporting period[186].