Accotest-华峰测控(688200) - 2023 Q4 - 年度财报

Financial Performance and Profit Distribution - The company's profit distribution plan has been approved by the third board of directors and will be submitted to the 2023 annual shareholders' meeting for final approval[1] - Revenue for the reporting period was 690,861,889.19 yuan, a decrease of 35.47% year-over-year[27][28] - Net profit attributable to shareholders was 251,652,296.29 yuan, a decrease of 52.18% year-over-year[27][28] - The company plans to distribute cash dividends of 75,707,009.84 yuan (tax included), accounting for 30.08% of the net profit attributable to the parent company in 2023[108] - The proposed 2023 annual profit distribution plan includes a cash dividend of RMB 5.60 per 10 shares, totaling RMB 75,707,009.84, which accounts for 30.08% of the net profit attributable to shareholders[159] - The company's net profit attributable to shareholders in the consolidated financial statements for the year is RMB 251,652,296.29[159] - The company's cash dividend policy stipulates that at least 10% of the distributable profit attributable to shareholders will be distributed in cash each year, and no less than 30% of the average annual distributable profit will be distributed in cash over any three consecutive years[158] - The company's cash dividend policy stipulates a minimum cash dividend ratio of 80% for mature stages without major capital expenditures and 20% for growth stages with major capital expenditures[110] Financial Assets and Investments - The company's total financial assets increased from RMB 256,710,899.49 to RMB 395,300,934.28, with a net increase of RMB 138,590,034.79[7] - The company's other equity instrument investments increased by RMB 28,138,075.59, reaching RMB 217,616,195.59 at the end of the period[7] - Other non-current financial assets grew by RMB 16,758,425.17, totaling RMB 83,991,204.66[7] - The company's trading financial assets increased significantly from RMB 0 to RMB 93,693,534.03[7] - The company invested 35,000,000.00 yuan in Guangzhou Huaxin Shengjing Venture Capital Center, representing a 2.35% ownership stake[50] - The company invested a total of $103.49 million in financial assets, with a fair value change loss of$ 9.8 million, resulting in a year-end book value of $93.69 million[68] - The company's investment in domestic and foreign stocks, specifically in Xinlian Integration (688469), had an initial investment cost of$ 53.49 million, with a fair value change loss of $6.3 million, resulting in a year-end book value of$ 47.19 million[68] - The company's investment in the Nord Fund Pujiang 467 Single Asset Management Plan had an initial investment cost of $50 million, with a fair value change loss of$ 3.5 million, resulting in a year-end book value of $46.5 million[68] Subsidiaries and Overseas Operations - The company's subsidiaries include ACCOTEST TECHNOLOGY (USA), INC. and ACCOTEST TECHNOLOGY (MALAYSIA) SDN. BHD., among others[5] - The company's subsidiary, ACCOTEST TECHNOLOGY (MALAYSIA) SDN.BHD., reported revenue of$ 3.91 million and net profit of $794,913.64[70] - The company's subsidiary, ACCOTEST TECHNOLOGY (USA), INC., reported revenue of$ 4.75 million and net profit of 100.7 million[78] - The company's core technical personnel, Yuan Yan, held 13,880 shares, with a total value of $88.4 million[78] - The company's core technical personnel, Hao Ruiting, held 13,142 shares, with a total value of$ 70.46 million[78] - Liu Huipeng, joined the company in 2003 as a R&D engineer, later became the R&D department manager, and has been involved in multiple patent applications and product development projects[117] - Yuan Yan, joined the company in 2003, leading the completion of high-precision and high-speed operational amplifier testing, AD/DA dynamic and static parameter testing, and power module testing[117] Sustainability and Environmental Impact - The company's carbon dioxide emissions in 2023 were 1,240.32 tons, marking the first comprehensive carbon footprint assessment[38] - The company continues to promote supply chain sustainability by expanding product certifications and system coverage, implementing total quality management, and zero-defect management[98] Customer and Supplier Relationships - Top 5 customers accounted for 21.82% of total annual sales, with Customer A contributing the highest at 6.60% (4560.28 million RMB)[52] - Top 4 suppliers accounted for 28.66% of total annual procurement, with Supplier 1 contributing the highest at 11.64% (1922.60 million RMB)[52] - The company values the trust and support of suppliers, customers, and consumers, aiming to provide high-quality products and maintain strong relationships[144] Intellectual Property and Innovation - The company has established an intellectual property group led by technical and IP experts to evaluate and protect internal patent proposals, enhancing patent quality and protection[181] - The company has established a knowledge management platform for internal online training to share patent management information, development guidelines, and competitive product research reports[107] Stock and Shareholder Management - The company's total share capital as of March 31, 2024, is 135,367,189 shares, excluding 176,100 shares in the company's repurchase account[165] - The company has implemented a stable stock price mechanism, committing to repurchase shares if the stock price falls below the net asset value per share for 20 consecutive trading days, with annual repurchase funds ranging from 10% to 30% of the previous year's net profit[187][188] - The company has a comprehensive investor relations management system, including dedicated email, hotline, and the SSE E-Interaction platform, ensuring transparency and fair access to information for all shareholders[197] - The company strictly complies with relevant laws and regulations such as the "Company Law," "Securities Law," and "Information Disclosure Management Measures" to fulfill its information disclosure obligations[198] - The company ensures that all shareholders have fair access to information by disclosing company information truthfully, accurately, completely, and timely through the Shanghai Stock Exchange website, "Shanghai Securities News," and "Securities Times"[198] - Institutional investor participation in corporate governance is not applicable[199] Product and Market Strategy - The company adheres to the development strategy of "consolidating domestic markets and expanding overseas," focusing on delivering high-quality products and services[8] - The company's high-power high-speed testing system generated revenue of 154,812,000.00 yuan, with a cost of 34,070,036.38 yuan and a gross profit of 115,543,313.91 yuan[25] - The high-speed communication system and software generated revenue of 196,964,250.00 yuan, with a cost of 34,001,353.85 yuan and a gross profit of 136,056,440.10 yuan[25] - The intelligent component screening and testing system generated revenue of 59,710,000.00 yuan, with a cost of 5,926,626.29 yuan and a gross profit of 30,627,172.16 yuan[25] - Total revenue from the three major testing systems was 721,074,250.00 yuan, with a total cost of 131,980,213.41 yuan and a total gross profit of 494,174,251.33 yuan[25] - The company plans to seek suitable industrial chain targets for investment and M&A, aiming to strengthen the business and deliver good returns to investors[54] - Global semiconductor industry sales are expected to grow by 13.1% in 2024, with global semiconductor equipment reaching 1053.1 billion USD, a 4% increase[59] Non-Recurring Gains and Losses - Non-recurring gains and losses for 2023 included government subsidies of RMB 810,233.20 and losses from financial asset transactions of RMB -3,039,036.62[9] Leadership and Management - Xu Jieshuang has served as the company's director and general manager since December 2017, and as a director of Tianjin Xinhua Investment Holding Co., Ltd. since October 2021[115] - Dong Qinggang has been the company's director since December 2023, and previously served as the company's supervisor from December 2020 to December 2023[115] - Ye Chengang, a renowned expert in business ethics and accounting professional ethics, has been an independent director of the company since December 2023[115] - Xia Kejin, with extensive experience in the semiconductor industry, has been an independent director of the company since December 2023[115] - Zhao Yunkun has been the company's R&D department manager since January 2015 and a supervisor since November 2017[115] - Shi Zhendong, male, born in 1968, holds a master's degree from Tsinghua University and has extensive experience in the semiconductor industry, serving as an independent director until December 2023[117] - Mei Yunhe, male, born in 1974, holds a master's degree from Renmin University and has a background in auditing and accounting, serving as an independent director until December 2023[117] - Xiao Zhongshi, male, born in 1963, has a background in industrial accounting and served as an independent director until December 2023[117] - Qi Yan, female, born in 1969, holds a master's degree from the University of International Business and Economics and served as the company's financial director until December 2023[117] - Dong Qinggang, elected as a director in 2023, also serves as the Chief Engineer and Director of the Science and Technology Committee at China Times Outlook Technology Co., Ltd[119][121] - Zhang Yong, elected as a director in 2023, also serves as the Deputy General Manager at China Times Outlook Technology Co., Ltd[119][121] - Fu Weidong, served as a director until December 2023, retired from the position[121] - Shao Dandan, served as a director until December 2023, did not attend several board meetings due to work reasons and authorized Zhang Yong to vote on her behalf[123] Stock Incentive Plans - The 2020 Restricted Stock Incentive Plan granted 550,000 shares of Class II restricted stock at a price of 98.74 yuan per share, with 459,724 shares vested and unlocked during the reporting period[166] - The 2021 Restricted Stock Incentive Plan granted 262,500 shares of Class II restricted stock at a price of 154.58 yuan per share, with 118,550 shares vested and unlocked during the reporting period[166] - The total share-based payment expenses recognized for the 2020 and 2021 Restricted Stock Incentive Plans were 16,939,386.9 yuan, with 4,244,239.45 yuan for the 2020 plan and 12,695,147.45 yuan for the 2021 plan[169] - Employee stock ownership plan includes 128 employees, accounting for 21.05% of the total workforce, with 1.3474 million shares held, representing 1% of the total share capital[193] Earnings and Investor Communication - The company held three earnings briefings in 2023: on April 25, August 26, and October 30, all conducted via online interactive platforms[172][179] - The company emphasizes transparency and investor communication, adhering to legal and regulatory requirements for information disclosure[142] - The company maintains a strong focus on protecting the rights and interests of shareholders and creditors[142] Quality Management and Supply Chain - The company has a comprehensive quality management system covering 5 stages of project development[138] - The company continues to promote supply chain sustainability by expanding product certifications and system coverage, implementing total quality management, and zero-defect management[98] Labor and Outsourcing - The company has no labor outsourcing, with total labor outsourcing hours and payments both at 0[151]