CSICPCL(600482)2024-04-26 12:41Financial Performance - In 2023, the company achieved a net profit attributable to shareholders of RMB 779,487,252.58, with undistributed profits totaling RMB 7,350,123,680.35 as of December 31, 2023[8]. - The company plans to distribute a cash dividend of RMB 1.07 per 10 shares, amounting to a total cash dividend of RMB 233,978,863.99, which represents 30.02% of the annual net profit[8]. - The company's operating revenue for 2023 reached ¥45.10 billion, an increase of 17.82% compared to ¥38.28 billion in 2022[22]. - Net profit attributable to shareholders for 2023 was ¥779.49 million, a significant increase of 132.18% from ¥335.72 million in 2022[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 429.68% to ¥558.75 million from ¥105.49 million in 2022[22]. - The net cash flow from operating activities increased by 48.41% to ¥4.60 billion, up from ¥3.10 billion in the previous year[22]. - Basic earnings per share rose by 125% to ¥0.36 in 2023, compared to ¥0.16 in 2022[23]. - Diluted earnings per share also increased by 125% to ¥0.36, reflecting the substantial growth in net profit[23]. - The weighted average return on equity improved to 2.15%, up by 1.32 percentage points from 0.83% in 2022[23]. - The total assets of the company at the end of 2023 were ¥99.12 billion, representing a 15.43% increase from ¥85.87 billion in 2022[22]. - The company's net assets attributable to shareholders increased by 3.49% to ¥36.79 billion from ¥35.55 billion in 2022[22]. Business Operations and Achievements - The company successfully delivered multiple units of the world's first CMD-WinGD 9X92DF-2.0 dual-fuel main engine in 2023[3]. - The company also completed the successful trial run of the world's first CMD-WinGD 10X92DF-2.0 dual-fuel main engine in 2023[4]. - The company secured a bid for a 300MW/1,200MWh electrochemical energy storage system project in 2023[5]. - The company successfully ignited the independently developed 920mm bore single-cylinder technology integration verification platform in December 2023[1]. - The company plans to continue expanding its market presence and enhancing product offerings, particularly in the shipbuilding sector, which has seen a recovery in demand[24]. - The company achieved a total revenue of 45.103 billion RMB in 2023, representing a year-on-year growth of 17.82%[34]. - The company completed an industrial output value of 45.102 billion RMB, with a year-on-year increase of 19.03%[34]. - The shipbuilding industry signed new contracts worth 27.598 billion RMB, a year-on-year growth of 47.32%[35]. - The production of marine low-speed diesel engines reached 403 units, an increase of 10.71% year-on-year, with a power output of 7,491,430 KW, up 25.73%[35]. - The company secured new contracts for marine low-speed diesel engines totaling 560 units, a year-on-year increase of 42.49%[35]. - The company produced 758 units of medium and high-speed diesel engines, with a power output of 1,321,065 KW[37]. - New contracts for medium and high-speed diesel engines reached 799 units, reflecting a year-on-year growth of 17.85%[37]. - The application industry signed new contracts worth 26.737 billion RMB, a year-on-year increase of 13.10%[37]. Research and Development - The company has committed to ensuring that cash distribution profits will not be less than 30% of the annual distributable profits[8]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[9]. - Research and development expenses increased by 25.82% to ¥2.1 billion, driven by ongoing technological innovations[66]. - The company is actively developing key technologies such as MW-level gas turbines and supercritical carbon dioxide closed Brayton cycle power generation to respond to emerging technologies[60]. - The company has established a stable and reliable partnership network with major global shipowners and well-known automotive manufacturers, which supports its future growth[60]. - The company is focusing on the development of integrated power supply systems for various types of vessels, with a growing adoption of electric propulsion systems in luxury cruise ships and other marine applications[49]. - The company has completed the development of 58 battery models in the automotive low-voltage battery sector[45]. Environmental and Social Responsibility - The company is committed to environmental protection by investing in pollution control equipment and accelerating the transformation of high-pollution production capacity[116]. - Environmental protection investments during the reporting period totaled RMB 66.28 million[161]. - The company has established an environmental management system and conducts annual assessments of environmental performance[196]. - The company has implemented carbon reduction measures, successfully reducing carbon dioxide equivalent emissions by 12,750.5 tons[197]. - The company has invested a total of 727,500 CNY in social responsibility projects, benefiting 1,486 individuals[200]. - The company has initiated the "Blue Sail Project" to advance the construction of distributed photovoltaic energy systems on factory rooftops[197]. Corporate Governance and Compliance - The company has implemented a robust internal control system focused on risk management and compliance, with no significant deficiencies reported during the period[157]. - The company has established a performance evaluation mechanism for senior management, aligning performance assessments with compensation distribution[156]. - The company has maintained compliance with relevant remuneration policies for its directors and senior management[135]. - The company has not reported any significant risks that could materially affect its production and operations during the reporting period[11]. - The company has maintained the independence of its controlling shareholder and has not experienced any fund or asset occupation issues[120]. - The company held a total of 19 board meetings from March to October 2023, with all resolutions passed without any dissenting votes[138]. - The company has undergone a restructuring of its supervisory board, with multiple resignations and appointments in 2023[131]. - The company is committed to maintaining compliance with corporate governance standards through these leadership changes[131]. Market Position and Future Outlook - The company holds a leading position in the domestic gas turbine sector, particularly in the medium and small gas turbine (5-50MW) market, with the CGT25 series units successfully delivered and entering overseas markets[52]. - The company holds over 70% market share in domestic low-speed marine engines and nearly 40% in the international market, indicating strong competitive positioning[106]. - The company is focusing on expanding its market presence and exploring potential mergers and acquisitions to drive growth[104]. - The company aims to enhance its international competitiveness by promoting marine products and energy equipment overseas, alongside building an overseas service system[112]. - The company is facing intensified competition in certain businesses, particularly in medium-speed diesel engines and nuclear power, due to market cycle fluctuations and procurement strategy adjustments by customers[115].