THEC(BJ:833509)2024-04-09 16:00Research and Development - The company established a joint R&D center with Southeast University to accelerate the industrialization of advanced power chip testing technology[5]. - The company is collaborating with Southeast University to develop advanced power semiconductor testing technologies, enhancing its capabilities in the power chip testing field[103]. - The company is also working with Jiangsu University of Technology on high-current and high-voltage measurement modules for third-generation semiconductor devices, improving testing accuracy and efficiency[103]. - Research and development expenses amounted to CNY 31.55 million, a year-on-year increase of 34.92%[54]. - The company holds 66 software copyrights and 67 authorized patents, including 41 invention patents[54]. - The number of patents owned by the company increased from 48 to 67, with the number of invention patents rising from 22 to 41[97]. - The company has expanded its R&D personnel from 72 to 86, with the proportion of R&D staff to total employees increasing from 24.08% to 29.55%[96]. - The company is focusing on developing new products to meet market demands and surpass competitors, particularly in the high-resistance and micro-current testing instrument sectors[1]. - The company is actively developing new products to meet the demands of the rapidly growing new energy and storage industries[99]. - The company is committed to breaking international monopolies in power semiconductor device testing technology, achieving self-control in this field[100]. Financial Performance - The company's operating revenue for 2023 was CNY 169,330,193.62, a decrease of 11.10% compared to CNY 190,469,146.00 in 2022[28]. - The net profit attributable to shareholders for 2023 was CNY 38,660,042.67, down 31.14% from CNY 56,145,538.08 in 2022[28]. - The gross profit margin improved to 57.09% in 2023 from 55.98% in 2022[28]. - Total assets at the end of 2023 were CNY 399,276,863.20, a slight decrease of 0.47% from CNY 401,166,219.87 at the end of 2022[30]. - Total liabilities decreased significantly by 24.82% to CNY 55,206,265.66 in 2023 from CNY 73,430,322.38 in 2022[30]. - The weighted average return on equity (ROE) based on net profit was 11.72% for 2023, down from 17.99% in 2022[28]. - The net cash flow from operating activities increased by 58.39% to CNY 53,542,605.58 in 2023 from CNY 33,805,023.99 in 2022[30]. - The company reported a basic earnings per share of CNY 0.24 for 2023, a decrease of 31.43% from CNY 0.35 in 2022[28]. - Non-recurring gains and losses totaled CNY 8,507,578.12 in 2023, compared to CNY 11,385,023.56 in 2022[37]. - The company's total revenue for the reporting period was CNY 169,330,193.62, a decrease of 11.10% compared to the same period last year[76]. Stock and Shareholder Information - The total share capital of the company increased from RMB 108,748,114 to RMB 163,122,171 following a stock split and dividend distribution in May 2023[22]. - The company granted 250,000 restricted stocks to five incentive targets as part of its 2022 stock incentive plan, with the first lock-up period ending on October 26, 2023[22]. - The company repurchased and canceled 280,725 shares of restricted stock due to performance evaluations and employee departures[22]. - The company has a stock incentive plan approved on September 22, 2022, aimed at motivating core employees and aligning their interests with the company's performance[135]. - The company has completed the registration of the remaining equity grant under the 2022 stock incentive plan on October 12, 2023[140]. - A total of 195,000 shares of restricted stock were repurchased and canceled due to three incentive targets leaving voluntarily[143]. - The company has committed to repurchase all newly issued shares if any false statements or omissions are identified in the public offering documents[186]. - The top ten shareholders collectively hold 110,451,426 shares, representing 67.71% of the total share capital, with significant increases in holdings for major shareholders such as Zhao Haohua and Wang Zhiping[194]. - Zhao Haohua, Wang Zhiping, and five other individuals are identified as the controlling shareholders, holding a combined total of 99,566,100 shares, which is 61.05% of the company[197]. - The company has established a new action agreement among the controlling shareholders, effective until June 9, 2030, to maintain their status as joint action parties[197]. Market and Industry Trends - The electronic measurement instrument market in China is projected to grow from CNY 346.7 billion in 2022 to CNY 422.9 billion by 2025[59]. - The electronic measurement instrument industry is evolving towards digitalization and virtualization, with a focus on modular design and integration of advanced technologies[117]. - The electronic measurement instrument industry in China is expected to continue expanding, driven by increasing demand and supportive government policies such as tax incentives and financial subsidies[120]. - The company has established a significant market opportunity in the energy storage industry, driven by the need for reliable battery testing solutions[1]. Corporate Governance and Social Responsibility - The company emphasizes social responsibility by ensuring employee rights and providing a safe working environment, having passed occupational health and safety system certification[114]. - The company is committed to not laying off employees or reducing salaries during challenging economic conditions, even increasing some positions[115]. - The audit firm has maintained independence and objectivity, ensuring accurate reflection of the company's financial status and operational results[112]. - The company will ensure compliance with social security and housing fund regulations, taking full responsibility for any required payments[174]. Risk Management - The company faces risks related to market competition, particularly from high-end products dominated by foreign companies, and is responding by focusing on customer needs and enhancing management systems[125]. - The company is aware of the potential for performance decline due to market demand fluctuations and is adjusting its strategies to focus on more competitive areas[126]. - The company is actively monitoring legal risks related to patent infringement and is conducting thorough patent searches before launching new products[126]. - There were no significant changes in major risks during the reporting period, indicating stability in the company's risk management[10]. Investment and Financial Strategy - The company aims to accelerate the investment progress of fundraising projects to achieve expected benefits as soon as possible[164]. - The company will actively promote profit distribution to shareholders in accordance with relevant laws and regulations, enhancing shareholder returns[165]. - The company commits to enhancing management levels and improving capital efficiency to boost operational efficiency and profitability[162]. - The company will strictly manage the use of raised funds to ensure compliance and efficiency, with funds stored in designated special accounts[163].