Business Developments - Naknor successfully launched a dry electrode forming and coating integrated machine in May 2023 at the Shenzhen International Battery Technology Exhibition, developed in collaboration with Qingyan Electronics, enhancing performance for various applications [4]. - In July 2023, Naknor and Qingyan Electronics established a joint venture, Qingyan Naknor Intelligent Equipment Technology (Shenzhen) Co., Ltd., to optimize strategic layout and promote dry equipment development [4]. - Naknor was successfully listed on the Beijing Stock Exchange on November 16, 2023, marking a significant milestone for the company [5]. - The company launched new products including dry electrode forming machines and multi-functional lithium replenishment experimental machines, with orders already received for solid-state battery rolling equipment and sodium battery production equipment [49]. - The company established a new subsidiary, Qingyan Nako Intelligent Equipment Technology (Shenzhen) Co., Ltd., to enhance R&D capabilities in dry electrode equipment [83]. Financial Performance - The company reported a revenue of ¥945,512,692.72 for 2023, representing a 25.03% increase compared to ¥756,236,224.52 in 2022 [27]. - The net profit attributable to shareholders was ¥123,827,256.96, a 9.33% increase from ¥113,262,139.70 in the previous year [27]. - The total assets increased by 45.81% to ¥2,546,708,637.27 from ¥1,746,614,893.08 in 2022 [28]. - The gross profit margin for 2023 was 25.21%, slightly up from 25.13% in 2022 [27]. - The weighted average return on equity (ROE) based on net profit was 24.11% for 2023, down from 44.30% in 2022 [27]. Capital Structure and Share Issuance - The total share capital of Naknor is 93,370,000 shares, with no preferred shares issued [17]. - The company raised a total of 12 million RMB through a private placement of 9.6 million shares, which was fully subscribed by February 10, 2023 [19]. - The company completed a public offering of 20,000,000 shares, increasing its registered capital from ¥70.37 million to ¥90.37 million [21]. - The company exercised an over-allotment option, issuing an additional 3,000,000 shares, raising the total registered capital to ¥93.37 million [23]. - Following the stock incentive plan, Naknor's registered capital increased from 69.97 million RMB to 70.37 million RMB after issuing 400,000 restricted shares to 17 core employees [20]. Research and Development - The company added 11 invention patents and 69 utility model patents during the reporting period, strengthening its technological capabilities [44]. - The total number of R&D personnel increased from 81 to 102, with the proportion of R&D staff in total employees rising from 11.95% to 13.67% [90]. - Key R&D projects include the development of a high-temperature wide-width roller press equipment, which is currently in the mass production stage, aimed at improving battery quality [93]. - The company collaborates with Yanshan University and Tsinghua University on the development of battery electrode rolling technology [97]. - R&D expenditure amounted to $22,877,596.17, representing 2.42% of operating revenue, a decrease from 2.88% in the previous period [89]. Market Position and Customer Base - The company focuses on providing high-precision equipment for battery production, including lithium-ion battery rolling machines and related services [37]. - The company has established long-term cooperation agreements with major clients such as CATL and BYD, enhancing its market position [46]. - The company’s products are widely used by leading domestic and international new energy battery manufacturers, ensuring a strong customer base [46]. - Major customers accounted for 89.88% of total sales, with Ningde Times and BYD contributing 43.49% and 35.73% respectively [71]. - The company employs a sales model that includes direct communication with clients and participation in bidding projects, covering over 30 provinces and regions in China [39]. Cash Flow and Financial Health - The company reported a significant decline in net cash flow from operating activities, with a net outflow of ¥222,076,428.19 compared to an inflow of ¥111,475,101.76 in 2021 [28]. - The company’s cash and cash equivalents increased by 175.97% to ¥402,744,009.89, accounting for 15.81% of total assets [56]. - Accounts receivable increased by 117.68% to ¥205,187,147.58, attributed to a larger scale of revenue recognition [58]. - Short-term borrowings rose by 140.42% to ¥100,000,000.00, driven by increased bank loans to meet funding needs [59]. - The company reported a significant increase in credit impairment losses by 2,909.06%, mainly due to extended customer payment cycles [62]. Corporate Governance and Compliance - The company appointed five new independent directors during the reporting period, enhancing governance [196]. - The total compensation for directors, supervisors, and senior management in 2023 is based on performance evaluation standards and aligns with the company's annual operational indicators [200]. - The company has no related party transactions among its directors, supervisors, and senior management, ensuring transparency [194]. - The company has established a comprehensive supplier evaluation system to ensure quality and maintain long-term relationships with high-quality customers [108]. - The company has engaged in significant related party transactions, with a total of 161,500,000 yuan in sales of products and services during the reporting period [123]. Social Responsibility and Community Engagement - The company donated 100,000 yuan to the Hebei Charity Association and 100,000 yuan to Tsinghua University Education Foundation during the reporting period [106]. - The company emphasizes the importance of protecting the rights and interests of shareholders, customers, suppliers, and employees while integrating social responsibility into its development strategy [107]. - The company is committed to enhancing its core competitiveness by developing high-precision rolling machines and expanding its market share through improved cost-performance [114]. - The company will actively explore cross-industry development, particularly in carbon fiber, polymer molding, and film stretching equipment, to form new performance growth points [112]. - The company has committed to minimizing investor losses in case of unfulfilled public commitments due to force majeure [162].
纳科诺尔(832522) - 2023 Q4 - 年度财报