SBS(002098)2024-04-26 14:54Financial Performance - The company's operating revenue for 2023 was approximately ¥2.05 billion, a decrease of 2.78% compared to ¥2.11 billion in 2022[22]. - Net profit attributable to shareholders increased by 47.38% to approximately ¥120.63 million from ¥81.85 million in the previous year[22]. - The basic earnings per share rose by 47.42% to ¥0.3370, compared to ¥0.2279 in 2022[22]. - The total assets at the end of 2023 were approximately ¥1.86 billion, reflecting a 0.75% increase from ¥1.84 billion at the end of 2022[22]. - The net assets attributable to shareholders increased by 11.77% to approximately ¥1.15 billion from ¥1.03 billion in 2022[22]. - Cash flow from operating activities decreased by 25.06% to approximately ¥222.58 million, down from ¥297.01 million in the previous year[22]. - The company reported a total of CNY -3.05 million in non-recurring losses for the year, an improvement from CNY -5.51 million in 2022[30]. - The company reported a net profit growth of 84.14% compared to the previous year, despite a 25.06% decrease in net cash flow from operating activities[81]. Revenue Breakdown - The zipper business generated revenue of CNY 1.72 billion, up 1.09% year-on-year, while the cross-border e-commerce business saw a revenue decline of 18.70% to CNY 335.58 million[47]. - The company's e-commerce sales through third-party platforms amounted to CNY 316.63 million, a 19.41% decrease from CNY 392.89 million in 2022[39]. - The revenue from domestic transactions amounted to ¥1,401,194,790.47, with a gross margin of 27.98%, showing a year-on-year increase of 5.48%[52]. - The revenue from international transactions was ¥652,606,822.96, with a gross margin of 42.57%, but experienced a decline of 16.77% compared to the previous year[52]. Operational Highlights - The company has expanded its business into cross-border e-commerce since acquiring a 65% stake in Shenzhen Jiazhilian Cross-border E-commerce Co., Ltd. in 2017[21]. - The company has five major production bases across China, making it the largest zipper manufacturer in terms of variety and specifications[37]. - The company plans to increase production capacity in response to anticipated high demand in the first quarter of 2024[56]. - The company maintained over 61.46% of its inventory in Amazon FBA warehouses, primarily located in the US, Europe, and Japan[42]. Research and Development - R&D expenses increased by 14.29% to CNY 87,386,992.62, reflecting the company's increased investment in research and development[66]. - The number of R&D personnel rose by 7.60% to 524, with a notable increase in the proportion of personnel aged 30-40 years, which grew by 3.86%[75]. - The company completed multiple R&D projects, including the development of new zipper products and technologies aimed at enhancing customer satisfaction and product variety[74]. - Research and development investment increased by 12% this year, totaling 150 million RMB, aimed at enhancing product quality and innovation[124]. Environmental Compliance - The company has complied with all relevant environmental protection laws and regulations during its operations[155]. - The company discharged a total of 1.9376 tons of ammonia nitrogen, with a concentration of 5.43 mg/L, also compliant with GB4287-2012 standards[157]. - The company has a wastewater treatment capacity of 1,000 tons per day, ensuring compliance with discharge standards[163]. - The company has not reported any exceedances in pollutant discharge limits across the board[157]. Corporate Governance - The company has established a transparent performance evaluation and incentive mechanism for its directors and managers[110]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance[113]. - The company has revised six governance documents to enhance its corporate governance structure[108]. - The company ensures timely and accurate information disclosure to all shareholders, complying with relevant regulations[111]. Future Outlook - The company plans to distribute a cash dividend of 1.10 yuan per 10 shares, amounting to a total of 39,380,000 yuan, which represents 34.94% of the total profit distribution[145][146]. - The company aims to enhance product performance and customer satisfaction through ongoing R&D efforts and the introduction of innovative products[74]. - The company plans to achieve a 9% revenue growth in its zipper business for 2024[100]. - The cross-border e-commerce business aims to turn profitable in 2024[100].