JSCQ(688182)2024-04-23 11:09Financial Performance - The company plans to distribute a cash dividend of 0.5875 RMB per 10 shares, totaling 23,500,000 RMB, which accounts for 50.28% of the net profit attributable to shareholders for 2023 [6]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges [4]. - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements [5]. - The company's operating revenue for 2023 was CNY 369,893,622.48, representing a year-on-year increase of 7.16% compared to CNY 345,184,227.36 in 2022 [24]. - The net profit attributable to shareholders for 2023 was CNY 46,735,562.59, a decrease of 40.55% from CNY 78,608,637.85 in 2022, primarily due to a reduction in government subsidies [24][26]. - The basic and diluted earnings per share for 2023 were CNY 0.12, down 40% from CNY 0.20 in 2022 [25][26]. - The net cash flow from operating activities for 2023 was CNY 33,359,955.40, a significant decline of 64.34% compared to CNY 93,558,990.43 in 2022 [24][26]. - The company's total assets at the end of 2023 were CNY 2,350,313,697.23, reflecting a 1.41% increase from CNY 2,317,655,217.57 at the end of 2022 [24]. - The net profit after deducting non-recurring gains and losses for 2023 was CNY 20,104,390.45, a decrease of 2.68% from CNY 20,658,824.07 in 2022 [24]. - The company reported a total profit of 26,631,172.14 RMB, a significant increase from the previous year's 57,949,813.78 RMB, indicating a decrease of approximately 54% [31]. Corporate Governance - The company has confirmed that all board members are present and have ensured the integrity of the annual report [5]. - The company has not violated any decision-making procedures regarding external guarantees [9]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity of the annual report [9]. - The company has not disclosed any special arrangements for corporate governance [9]. - The company maintains effective internal control systems and has not reported any significant deficiencies in internal controls during the reporting period [180]. - The company has established a comprehensive corporate governance structure, including a board of directors with specialized committees to enhance decision-making efficiency [187]. - The company has implemented a robust management system for its subsidiaries, ensuring compliance with established operational standards [181]. - The annual shareholders' meeting held on May 16, 2023, passed all resolutions without any objections [146]. - The company has not experienced any changes in the implementation of differential voting rights during the reporting period [147]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period [149]. Research and Development - Research and development expenses accounted for 10.55% of operating revenue in 2023, an increase of 0.79 percentage points from 9.76% in 2022 [25]. - The company has made substantial investments in R&D for advanced electronic ceramics, focusing on innovation in material formulations and manufacturing processes [40]. - The company has developed a complete HTCC automated production line, enhancing its capabilities in producing high-precision HTCC products with minimum thickness of 0.1mm and minimum line width of 50um [38]. - The company has developed over 150 ceramic powder formulations, with more than 60 achieving commercial mass application, covering dielectric constants from 4 to 150 [54]. - The company achieved a total R&D investment of ¥39,013,826.87 in 2023, representing a 15.76% increase from ¥33,701,491.65 in the previous year [80]. - The company has completed 11 major R&D projects during the reporting period, achieving significant progress in the development of dielectric waveguide filters, HTCC process, and metallized ceramic substrates [85]. - The company has developed eight mature formulations of HTCC ceramic materials, achieving extreme process capabilities suitable for high-precision HTCC product manufacturing [64]. - The company has developed a multi-band combiner for 4G and 5G wireless signal processing, with a production frequency range of 30GHz to 120GHz, aimed at meeting complex base station requirements [83]. Market Position and Strategy - The company has established a customer base of over a thousand, including major clients such as Huawei, Qualcomm, and Nokia, solidifying its position as a core supplier in the communication industry [37]. - The company has successfully launched mass production of 5G base station dielectric waveguide filters, becoming a key supplier in the global communication supply chain [36]. - The company aims to improve its technological capabilities to meet the growing demand for HTCC electronic ceramic products driven by 5G applications and the Internet of Things [63]. - The company is actively developing new products, including high-performance microwave dielectric ceramic materials, to maintain competitiveness in the rapidly evolving market [99][100]. - The company is exploring acquisition opportunities to enhance its product portfolio and market presence [153]. - The company plans to enhance its position in the ceramic RF components market, responding to the growing demand for base station ceramic filters [141]. - The company is expanding its market presence in the aerospace, automotive, and new energy sectors through innovative product development and strategic partnerships [84]. Environmental and Social Responsibility - The company emphasizes the importance of ESG (Environmental, Social, and Governance) as a cornerstone for sustainable development and has integrated it into corporate culture [184][185]. - The company invested 694,500 RMB in environmental protection during the reporting period [188]. - The company has not been listed as a key pollutant discharge unit by environmental protection authorities during the reporting period [189]. - The company has obtained ISO 14001:2015 environmental management system certification and established comprehensive environmental management documents [196]. - The company emphasizes energy conservation and environmental protection as a key operational focus [199]. - The company donated a total of 280,000 RMB for charitable activities during the reporting period [200]. Operational Efficiency - The company has achieved significant production efficiency improvements with ceramic waveguide filters compared to traditional metal cavity filters, leading to lower overall production costs [61]. - The company has implemented cost reduction and efficiency enhancement measures, optimizing processes and improving material and equipment utilization [198]. - The company has upgraded its waste gas treatment facilities and purchased better activated carbon for adsorption [199]. - The company has invested in advanced production equipment, including network analyzers and robots, to enhance production efficiency [198]. - The company has focused on optimizing raw material ratios and processes for metal-ceramic composite materials, resulting in improved mechanical properties that exceed existing products [84]. Human Resources - The number of R&D personnel increased to 141, representing 19.00% of the total workforce, up from 16.25% in the previous period [87]. - Total compensation for R&D personnel reached 1,875.54 million, compared to 1,454.27 million in the prior period, reflecting a significant investment in talent [87]. - The employee training program is designed to enhance professional skills and management capabilities, aligning employee development with company growth [173]. - The company has 17 retired employees for whom it bears costs, reflecting its commitment to employee welfare [171].