THTF(600100)2024-04-26 13:13Financial Performance - Revenue for 2023 reached 28.83 billion yuan, a year-on-year increase of 21.35%[15][17] - Net profit attributable to shareholders of the listed company in 2023 was -764.91 million yuan, with losses from industrial restructuring and intensified market competition impacting profits by -460 million yuan[17] - Operating cash flow for 2023 was 145.11 million yuan, a significant increase of 203.86% compared to the previous year[15] - Total assets at the end of 2023 were 55.08 billion yuan, a slight increase of 1.75% from the previous year[15] - Basic earnings per share for 2023 were -0.2283 yuan, showing no significant change from the previous year[16] - Weighted average return on equity (ROE) for 2023 was -5.24%, a decrease of 0.23 percentage points from the previous year[16] - Revenue in the fourth quarter of 2023 was 10.75 billion yuan, the highest among all quarters[19] - Non-recurring gains and losses in 2023 amounted to 267.02 million yuan, a decrease from 281.27 million yuan in 2022[21] - The fair value of financial assets measured at fair value and included in current profits was 1.10 billion yuan at the end of 2023, a decrease of 268.49 million yuan from the beginning of the year[22] - Investment property fair value increased by 73.08 million yuan in 2023, reaching 146.59 million yuan at the end of the year[22] - Revenue increased by 21.35% year-over-year, with international revenue growing by 33.87% to 6.807 billion RMB[23] - Operating cash flow improved by 97 million RMB, reaching 145 million RMB[27] - Revenue increased by 21.35% to 28,833,463,784.14 yuan in 2023 compared to 23,761,348,566.75 yuan in 2022[41] - Operating costs rose by 25.70% to 23,712,747,475.50 yuan in 2023 from 18,863,962,731.05 yuan in 2022[41] - Net cash flow from operating activities surged by 203.86% to 145,113,490.49 yuan in 2023 from 47,756,748.39 yuan in 2022[41] - Digital information sector revenue grew by 46.66% to 1,622,442.21 thousand yuan in 2023 from 1,106,281.40 thousand yuan in 2022[44] - International market revenue increased by 33.87% to 680,721.45 thousand yuan in 2023 from 508,509.76 thousand yuan in 2022[47] - Overall gross margin decreased by 2.87% to 17.74% in 2023 from 20.61% in 2022[44] - R&D expenses slightly decreased by 0.28% to 1,090,198,370.92 yuan in 2023 from 1,093,314,210.53 yuan in 2022[41] - Financial expenses decreased by 21.02% to 621,311,386.36 yuan in 2023 from 786,683,764.59 yuan in 2022[41] - Other comprehensive income after tax increased by 707.54% to 315,168,653.96 yuan in 2023 from 39,028,170.14 yuan in 2022[41] - Investment income decreased by 119.65% to -139,859,122.23 yuan in 2023 from 711,909,017.27 yuan in 2022[41] - The company's total cost of main business increased by 25.80% year-over-year, reaching 2,364,827.47 million yuan[55] - The digital information sector's main business cost increased by 48.59% year-over-year, accounting for 60.28% of the total cost[55] - The top five customers accounted for 18.36% of the total annual sales, with no sales to related parties[56] - The top five suppliers accounted for 34.10% of the total annual procurement, with no procurement from related parties[57] - The company's total R&D investment was 1,501,176,322.91 yuan, accounting for 5.21% of the total revenue[59] - The company has 3,760 R&D personnel, accounting for 27.28% of the total workforce[61] - The net cash flow from operating activities increased by 97,356,742.10 yuan year-over-year, reaching 145,113,490.49 yuan[62] - The net cash flow from investment activities decreased by 2,067,528,303.92 yuan year-over-year, mainly due to the transfer of Tongfang Water Group's 100% equity in the previous year[62] - Total assets increased by 1.75% to 55,084,457,293.75 RMB compared to the previous year[64] - Accounts receivable increased by 59.50% to 142,463,667.97 RMB, accounting for 0.26% of total assets[64] - Held-for-sale assets increased by 100% to 4,964,233,751.82 RMB, accounting for 9.01% of total assets[64] - Investment property increased by 99.42% to 146,587,817.54 RMB, accounting for 0.27% of total assets[64] - Development expenditure decreased by 34.14% to 778,144,497.53 RMB, accounting for 1.41% of total assets[64] - Long-term loans increased by 238.67% to 6,332,385,000.00 RMB, accounting for 11.50% of total assets[64] - Undistributed profits decreased by 188.20% to -359,067,964.65 RMB, accounting for -0.65% of total assets[64] - Overseas assets amounted to 8,784,290,907.40 RMB, accounting for 15.95% of total assets[66] - No significant equity investments were made during the reporting period, with a 100% decrease in investment amount compared to the previous year[67] - The company holds 100% equity in CNKI Digital Publishing Technology Co., Ltd., a major subsidiary[69] - The fair value of trading financial assets decreased by RMB 268.49 million, impacting the current profit by RMB 249.48 million[71] - The fair value of other equity instrument investments decreased by RMB 47.43 million, impacting the current profit by RMB 54.31 million[71] - The fair value of other non-current financial assets decreased by RMB 7.51 million, with a negative impact on the current profit of RMB 268,793.58[71] - The initial investment cost in Tsinghua Unigroup was RMB 497.02 million, with a current fair value of RMB 1.03 billion[72] - The initial investment cost in Industrial Fulian was RMB 199.99 million, with a current fair value of RMB 193.24 million[72] - The company received RMB 144.92 million from the transfer of 80% equity in Tongfang Energy Technology Development Co., Ltd[76] - The company received RMB 179.10 million from the transfer of 100% equity in Tongfang Jiangxin Shipbuilding Co., Ltd[77] - The company paid RMB 239 million in taxes for the internal transfer of equity in Tongfang Zhihui (Beijing) Technology Co., Ltd[78] - The company completed the internal transfer of equity in Tongfang Zhihui (Beijing) Technology Co., Ltd and no longer directly holds its equity[78] - The company transferred 100% equity of Tongfang Computer Co., Ltd. for RMB 1,354.51 million, 100% equity of Tongfang International Information Co., Ltd. for RMB 544 million, and 51% equity of Chengdu Wisdom Industrial Development Co., Ltd. for RMB 1[79] Corporate Governance and Leadership - The company's annual report for 2023 includes forward-looking statements that do not constitute a substantive commitment to investors[3] - The company has no non-operational fund occupation by controlling shareholders or related parties[3] - The company has no violations of decision-making procedures for external guarantees[3] - The company has no instances where more than half of the directors cannot guarantee the authenticity, accuracy, and completeness of the annual report[3] - The company's registered and office address is located at Tsinghua Tongfang Technology Building, No. 1 Wangzhuang Road, Haidian District, Beijing[11] - The company's stock is listed on the Shanghai Stock Exchange with the stock code 600100 and the stock abbreviation "Tongfang Co., Ltd."[13] - The company's annual report is disclosed on media such as "China Securities Journal," "Shanghai Securities News," "Securities Times," and "Securities Daily"[12] - The company's annual report is prepared at the office on the 29th floor of Tsinghua Tongfang Technology Building, No. 1 Wangzhuang Road, Haidian District, Beijing[12] - The company's financial report is audited by Tianjian Certified Public Accountants (Special General Partnership)[14] - The company did not distribute cash dividends, issue bonus shares, or convert capital reserve into share capital for the year 2023[2] - The company's Chairman, Han Yongjiang, received a pre-tax remuneration of 1.1231 million yuan in 2023[121] - The company's Vice President and Board Secretary, Zhang Jian, held 3,700 shares with no change during the year and received a pre-tax remuneration of 1.8775 million yuan[122] - The company's Vice President, Zhang Xinghu, held 200,000 shares with no change during the year and received a pre-tax remuneration of 1.3419 million yuan[123] - The company's total pre-tax remuneration for directors, supervisors, and senior management in 2023 was 18.9346 million yuan[123] - The company elected new directors and supervisors during the 2023 Second Extraordinary General Meeting, including Han Yongjiang, Zhuo Yuyun, Wen Xinli, and Lü Xiqiang as non-independent directors[124] - The company's Vice President, Liu Weidong, resigned due to retirement, holding 22,280 shares with no change during the year and receiving a pre-tax remuneration of 1.131 million yuan[123][124] - Han Yongjiang was elected as the Chairman of the 9th Board of Directors on June 5, 2023[125] - Li Chengfu was appointed as the President of the company on July 20, 2023[125] - Li Chengfu and Wang Suohui were elected as non-independent directors of the 9th Board of Directors on August 28, 2023[125] - He Qian was elected as the Chairman of the 9th Board of Supervisors on November 16, 2023[125] - Han Yongjiang has been serving as the Chairman of the 8th and 9th Board of Directors since September 15, 2022[126] - Li Chengfu has been serving as the President and a director of the 9th Board of Directors since July 20, 2023[127] - Wang Suohui has been serving as a director of the 9th Board of Directors since August 28, 2023[127] - He Qian has been serving as the Chairman of the 9th Board of Supervisors since November 16, 2023[127] - Chen Taiquan has been serving as a supervisor of the company's ninth board of supervisors since June 5, 2023, and is currently the deputy director of the Science and Technology Innovation Department of Sichuan Energy Investment Group Co., Ltd[129] - Wang Zhilong has been serving as a supervisor of the company's eighth and ninth board of supervisors since February 24, 2020, and is currently the assistant to the president and general manager of the Investment Management Department[129] - Liang Wuquan is currently a member of the company's party committee and the chief financial officer, having previously served as the chief accountant of the Nuclear Fuel Division of CNNC[129] - Gao Zhi is currently a member of the company's party committee and vice president, having previously served as the deputy general manager and executive deputy general manager of the company's air conditioning equipment company[129] - Zhang Jian is currently a member of the company's party committee and vice president, having previously served as the company's board secretary and an engineer at China Nuclear Power Engineering Co., Ltd[129] - Yan Xianwen is currently the vice president of the company, having previously served as the general manager of the service center of Beijing Tongfang Jizhao Technology Co., Ltd[129] - Zhang Yuanyuan is currently the vice president and board secretary of the company, having previously served as the assistant to the president and general manager of the comprehensive department (securities affairs office) and human resources department[129] - Sun Shangmin is currently the vice president of the company, having previously served as the vice president of Tongfang Nuctech Co., Ltd[129] - Zhuo Yuyun served as the company's director and president from November 7, 2022, to July 20, 2023, having previously served as the deputy general manager and chief accountant of China National Nuclear Power Co., Ltd[129] - Wen Xinli served as a director of the company's eighth and ninth board of directors from March 29, 2021, to July 20, 2023, having previously served as the party secretary and chairman of China National Nuclear Corporation Capital Holding Co., Ltd[129] - Total compensation for directors, supervisors, and senior management in 2023 was 18.9346 million yuan[135] - The company elected new directors and a chairman of the board of supervisors, including Li Chengfu, Wang Suohui, and Lü Xiqiang as directors, and He Qian as chairman of the board of supervisors[136] - The company appointed new senior management, including Li Chengfu as president, Zhang Jian and Zhang Yuanyuan as vice presidents, and Sun Shangmin as vice president[137] - The company received a regulatory warning from the Shanghai Stock Exchange in May 2023 due to accounting issues in its periodic reports[138] - The company approved the transfer of its subsidiary's equity in Guodu Securities and the capital increase of its digital publishing business through the injection of equity and cash[139] - The company approved the registration of 3 billion yuan in science and innovation private placement bonds and adjusted its 2023 investment plans for infrastructure and equity[140] - The company plans to apply for a syndicated loan of 3 billion yuan from the Agricultural Bank of China[141] - The company held a total of 14 board meetings in 2023, with 3 being in-person, 2 via telecommunication, and 9 combining both methods[144] - The company's board of directors approved the 2023 semi-annual report and the proposal for asset impairment provisions for the first half of 2023[147] - The company's board of directors approved the 2023 third-quarter report and the proposal to renew the appointment of the 2023 audit firm[146] - The company's board of directors approved the 2022 annual report and the 2023 financial budget plan[147] - The company's board of directors approved the 2023 semi-annual performance pre-profit announcement[147] - The company's board of directors approved the proposal to elect the convener of the ninth board's audit and risk control committee[147] - The company's board of directors approved the proposal for indirect controlling shareholders to provide entrusted loans and related transactions[147] - The company's board of directors approved the 2022 internal control evaluation report and the 2022 internal control system work report[147] - The company's board of directors approved the 2023 debt management plan and the risk assessment report for financial business with CNFC[147] - The company has a total of 13,783 employees, with 6,371 in the parent company and 13,146 in subsidiaries[155] - The employee composition includes 1,887 production staff, 2,203 sales staff, 3,043 technical staff, 358 financial staff, 2,532 administrative staff, and 3,760 R&D staff[156] - The educational background of employees includes 150 with a PhD, 2,263 with a master's degree, 7,194 with a bachelor's degree, 2,584 with an associate degree, and 1,592 with a high school diploma or below[156] - The company has implemented a competitive and attractive salary system, with a focus on linking employee income to company performance[157] - The company has established a comprehensive training system, covering five levels from senior management to new employees, to enhance the professional capabilities of its workforce[159] - The company plans to deepen the long-term talent development mechanism in 2024, providing clear career paths and broadening career development channels for employees[159] - The company did not adjust its dividend policy this year[160] - The company's cash dividend policy complies with the articles of association and shareholder meeting resolutions, with clear standards and proportions, and a complete decision-making process[161] - Independent directors have fulfilled their duties effectively, and the rights and interests of minority shareholders have been fully protected[161] - The company invested 15.0763 million yuan in environmental protection during the reporting period[164] - The company's wastewater treatment plants in Lianshui Economic Development Zone and Lianshui Airport Industrial Park processed 3 million tons and 1 million tons of wastewater per day, respectively[166][167] - The Lianshui Economic Development Zone wastewater treatment plant emitted 213.12 tons of COD, 21.57 tons of BOD5, 37.56 tons of SS, 3.77 tons of NH3-N, 1.60 tons of TP, and 60.27 tons of TN in 2023[166] - The Lianshui Airport Industrial Park wastewater treatment plant emitted 19.76 tons of COD, 4.35 tons of BOD5, 8.49 tons of SS, 0.66 tons of NH3-N, 0.42 tons of TP, and 14.68 tons of TN in 2023[167] - The company reduced CO2 emissions by 6460.24 tons through waste heat recovery and other measures[170] - The company's energy-saving measures helped reduce CO2 emissions by 3.8792 million tons across related industries by the end of 2023[171] - The company established a comprehensive internal control system in compliance with regulatory requirements, achieving expected control objectives[162] - The company disclosed its 2023 Internal Control Audit Report on April 27, 2024, with a standard