Financial Performance - In 2023, the company's software business revenue reached RMB 126.79 million, representing a year-on-year growth of approximately 50%[10]. - The net profit after tax for 2023 was RMB 169 million, an increase of RMB 122 million compared to the adjusted profit of RMB 47 million in 2022[12]. - The company generated cash inflow from operating activities of RMB 164 million during the reporting period[13]. - The company's distributable profit at the end of the period is approximately RMB 187 million[176]. - The board does not recommend the payment of a final dividend for the year[177]. Operational Highlights - The company established connections with over 300 million vehicles through diagnostic equipment, with active users exceeding 1.55 million, a growth of approximately 23% year-on-year[16]. - The company has established partnerships with four vehicle manufacturers, delivering over 120 vehicles across six provinces and cities in 2023[17]. - The online procurement and paid upgrade orders for diagnostic software exceeded expectations, driven by smart pricing algorithms[8]. - The company aims to develop three new growth engines: SDS, EVS, and AAS, to adapt to structural changes in the automotive industry[20]. - The total number of employees as of December 31, 2023, was 952, representing a 12% increase from the previous year[134]. Research and Development - The company maintained a high R&D investment ratio of 11% of operating revenue in 2023, with 466 R&D personnel accounting for half of the total workforce[18]. - The training hours for R&D personnel surged to 20,546 hours in 2023, a substantial increase from 8,523 hours in 2022, marking an increase of 141.5%[147]. Corporate Governance - The company has a strong focus on maintaining high standards of corporate governance and continuously reviews and improves its governance and internal control practices[35]. - The board of directors consists of eight members, including three executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2023[38]. - The board held a total of 16 meetings during the year to discuss and formulate the overall strategy and monitor the operational and financial performance of the company[40]. - The audit committee has reviewed the interim report and annual report during the year, ensuring compliance with financial reporting and internal control standards[49]. - The company has established clear guidelines for management reporting to the board, ensuring transparency and accountability in operations[47]. Environmental, Social, and Governance (ESG) - The company is committed to enhancing its environmental, social, and governance (ESG) performance, recognizing its importance for sustainable development[121]. - The board is responsible for the company's ESG strategy and has established a working group to assess relevant issues and their significance to stakeholders[121]. - The company achieved a 20% reduction in electricity consumption in 2023, amounting to approximately 1,900,000 kWh[127]. - The company actively promotes recycling initiatives, including the recycling of paper, glass, and batteries[125]. - The company emphasizes social contributions to local communities and encourages employees to engage in social responsibility[171]. Employee Training and Development - In 2023, the total number of employees trained increased to 952 from 843 in 2022, representing a growth of 12.9%[147]. - The average training hours per employee rose to 41 hours in 2023, up from 26 hours in 2022, indicating a significant increase of 57.7%[147]. - The number of male employees trained increased to 651 in 2023, compared to 561 in 2022, while female employees trained rose to 301 from 282, reflecting a growth of 16% and 6.7% respectively[147]. - The average training hours for employees under 30 years old increased significantly to 57 hours in 2023, compared to 25 hours in 2022, reflecting a growth of 128%[147]. Compliance and Risk Management - The company has implemented strict measures to ensure compliance with labor laws, prohibiting child labor and forced labor[149]. - There were no reported cases of corruption or violations of anti-money laundering laws during the reporting period[169]. - The company has established a comprehensive supplier qualification and management process to ensure supplier performance and compliance with quality standards[152]. Shareholder Relations - The company maintains effective communication with investors through various channels, including meetings, calls, and site visits[114]. - The company has a commitment to transparency and strives to provide accurate and complete information to enable informed decision-making by shareholders and the public[110]. - The company has made efforts to ensure that all shareholders receive equal access to information[109]. - The company emphasizes the importance of building effective relationships with investors to enhance shareholder value and market confidence[109].
元征科技(02488) - 2023 - 年度财报