华峰铝业(601702) - 2023 Q4 - 年度财报

Financial Performance - The company's net assets attributable to shareholders increased to ¥4,524,458,860.70 in 2023, a growth of 21.22% compared to ¥3,732,538,392.44 in 2022[30]. - Total assets rose to ¥7,183,130,857.47, reflecting a 14.29% increase from ¥6,285,002,387.04 in the previous year[30]. - Basic earnings per share reached ¥0.90, marking a 34.33% increase from ¥0.67 in 2022[30]. - The weighted average return on net assets improved to 21.50%, up by 2.12 percentage points from 19.38% in 2022[30]. - The company achieved total operating revenue of CNY 9,290,944,494.06, an increase of 8.73% compared to the previous year[36]. - Net profit attributable to shareholders reached CNY 899,201,548.76, reflecting a growth of 35.06% year-on-year[36]. - The net profit excluding non-recurring gains and losses was CNY 876,874,704.46, up 35.88% from the previous year[37]. - The company achieved record revenue and profit levels in 2023, marking the highest figures in its history[81]. - The company distributed a cash dividend of 0.10 yuan per share (including tax), totaling 99,853,060 yuan (including tax), based on a total share capital of 998,530,600 shares[91]. Research and Development - The company aims to enhance R&D efforts in new fields such as energy storage, wind power, and 5G base stations, aligning with market demand[5]. - In 2023, the company obtained 19 patents, including 3 invention patents and 16 utility model patents[38]. - The company has a total of 96 authorized patents, including 33 invention patents and 63 utility model patents, demonstrating significant R&D achievements[135]. - Research and development expenses totaled ¥231,473,778.85, accounting for 2.49% of operating revenue[149]. - Research and development personnel numbered 291, representing 15.22% of the total workforce, with a notable age distribution where 149 are aged 30-40[168]. Market and Product Development - The average aluminum content in European passenger cars is projected to increase from 205kg in 2022 to 237kg by 2026, representing a growth of 15.6%[2]. - The company completed hundreds of new project allocations and reserves, covering traditional automotive thermal transfer materials and new energy vehicle materials[38]. - The company has developed star products such as blade battery materials and water-cooled plate materials, increasing sales and market share[37]. - The company has expanded its product offerings in the new energy sector, leading to a significant increase in sales volume for related products[143]. - The company's aluminum processing main business grew significantly due to increased market share of downstream customers in the new energy sector, leading to higher demand for aluminum materials[163]. Operational Efficiency - The net cash flow from operating activities was CNY 373,596,887.30, an increase of 14.42% compared to the previous year[51]. - The company is focusing on lean management to enhance efficiency and improve overall processes and information systems[62][63]. - The company has established a complete production chain across both bases, enhancing flexibility in production and logistics to mitigate risks during emergencies[111]. - The company emphasizes rapid delivery capabilities, which are critical for large automotive parts manufacturers, enhancing its competitive advantage in the supply chain[109]. - The company is investing ¥198,001,000 in a project to produce 150,000 tons of high-end aluminum plates and foils for new energy vehicles, which is currently under construction[158]. Sustainability and Green Development - A focus on green and low-carbon development is emphasized, aiming to build a modern industrial system centered on high-strength, corrosion-resistant, and lightweight aluminum composite materials[6]. - The company has been recognized as a national-level green factory, with ongoing efforts in energy conservation, clean production, and recycling, contributing to a reduction in carbon emissions[90]. - The company is accelerating its green and low-carbon transformation and upgrading its industry[65]. Supply Chain and Procurement - The company has established long-term procurement agreements with several reputable aluminum ingot suppliers to ensure stable raw material supply[73]. - The top five suppliers accounted for 42.90% of total annual purchases, with no purchases from related parties[167]. International Expansion - The company has effectively expanded its overseas customer base by deepening its presence in the Asian market and developing the Eastern European market, particularly in supplying water-cooled plate materials to multiple automotive projects in Japan and South Korea, leading to a continuous increase in foreign trade for new energy vehicles[86]. - The company has overseas assets amounting to 1,067.71 million RMB, representing 0.15% of total assets[192]. Financial Management - The company reported a decrease in financial expenses by 23.67% to ¥25,949,501.04, down from ¥33,994,285.14 last year[140]. - The company’s long-term borrowings decreased by 87.50% to ¥40,000,000.00, primarily due to the reclassification of long-term debt to current liabilities[171]. - The company plans to engage in foreign exchange derivative trading with a limit of up to ¥1 billion until April 30, 2024[179]. - The company employs forward foreign exchange contracts and options to mitigate foreign exchange risks, with overall business risk being manageable and effectively executed in 2023[199].