LEEJUN(002651)2024-04-26 08:41Financial Performance - The company's operating revenue for 2023 was CNY 1,072,671,593.65, representing a 5.17% increase compared to CNY 1,019,929,815.58 in 2022[21]. - The net profit attributable to shareholders decreased by 44.06% to CNY 122,899,732.01 from CNY 219,684,380.77 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 109,610,442.67, down 48.08% from CNY 211,122,794.16 in 2022[21]. - The net cash flow from operating activities increased by 37.83% to CNY 268,031,333.93, compared to CNY 194,461,767.96 in 2022[21]. - Basic earnings per share decreased by 42.86% to CNY 0.12 from CNY 0.21 in the previous year[21]. - The company's operating profit was CNY 161.45 million, a decrease of 35.59% year-on-year[66]. - The cash and cash equivalents net increase was CNY 52.81 million, a decline of 88.15% compared to the previous year[66]. - The company reported a net profit of CNY 132,749,075.73 for the year 2023, with a total distributable profit of CNY 390,073,099.87 after accounting for dividends from the previous year[180]. Revenue Breakdown - In 2023, the company reported total revenue of approximately CNY 1,134,671,593.65, with a net profit attributable to shareholders of CNY 122,899,731.41, reflecting a significant decrease compared to the previous year[26]. - The aerospace components manufacturing business saw a revenue increase of 46.34%, reaching CNY 431.78 million[68]. - The grinding system and supporting equipment manufacturing business revenue decreased by 11.59%, totaling CNY 640.89 million[68]. - Revenue from cement roller presses and supporting products dropped by 54.30% to 126.41 million yuan due to weakened downstream demand[69]. - Revenue from high-pressure roller mills for mining increased by 34.44% to 286.12 million yuan, attributed to high fulfillment rates of existing orders[69]. - The total operating costs for 2023 amounted to ¥625,497,660.84, reflecting a year-on-year increase of 1.97%[86]. Research and Development - The company has continued to invest in R&D, obtaining multiple patents to enhance its core competitiveness[60]. - Research and development (R&D) investment increased by 7.62% to CNY 44.06 million, representing 4.11% of operating revenue[93]. - The number of R&D personnel decreased by 6.98% to 160, while the proportion of R&D personnel in the total workforce increased by 1.67% to 13.16%[93]. - The company is committed to increasing R&D investment and promoting the application of self-innovated products to maintain technological leadership[128]. - The company aims to enhance its technology and production capabilities to meet the growing demand for energy-efficient and environmentally friendly manufacturing processes[120]. Market Position and Strategy - The company has established itself as a leading domestic enterprise in the grinding system equipment sector, focusing on high-efficiency and energy-saving technologies[32]. - The aerospace components manufacturing segment is positioned as a strategic industry supported by national policies, with ongoing investments aimed at enhancing production capabilities and technological advancements[34][35]. - The company is focusing on technology innovation and market expansion to maintain its market share amid economic challenges[57]. - The company is actively exploring domestic and international markets to enhance its product market share and achieve collaborative development across the industry chain[128]. - The company aims to improve product quality, manufacturing efficiency, and reduce costs to enhance competitiveness and meet market demands[124]. Risks and Challenges - The company faces risks including aerospace industry policy adjustments and fluctuations in raw material prices, which may impact future performance[4]. - The company acknowledges the risk of raw material price fluctuations affecting its operational performance due to the long supply cycles of its products[132]. - The company faces risks related to policy adjustments in the aerospace industry, which could impact its manufacturing business[129]. Corporate Governance - The board of directors consists of nine members, including three independent directors, meeting legal requirements[141]. - The supervisory board has three members, including one employee representative, complying with legal regulations[143]. - The company maintains a completely independent business operation system, with no competition with the controlling shareholder[148]. - The company has established an independent financial accounting department and a financial management system, ensuring financial independence[152]. - The company has a structured decision-making process for adjusting the remuneration of directors and senior management, requiring approval from the board and shareholders[166]. Employee and Social Responsibility - The company employed a total of 1,216 staff members, with 667 in production, 217 in technical roles, and 79 in sales[174]. - Employee development is prioritized, with a focus on professional training and a robust welfare system to foster a harmonious labor relationship[196]. - The company actively engages in social welfare activities, including disaster relief and support for vulnerable groups[197]. - The company emphasizes corporate social responsibility, balancing economic and social benefits to promote harmonious development with society[196].