DKEM(SZ:300842)2024-02-28 16:00Financial Performance - The company's operating revenue for 2023 reached ¥9,602,822,670.15, representing a 154.94% increase compared to ¥3,766,673,993.15 in 2022 [26]. - The net profit attributable to shareholders was ¥385,640,607.57, a significant increase of 2,336.51% from a loss of ¥17,323,949.79 in the previous year [26]. - The net profit after deducting non-recurring gains and losses was ¥342,963,420.06, up 2,829.96% from a loss of ¥12,643,913.85 in 2022 [26]. - The company's total assets increased by 102.21% to ¥6,784,718,315.13 at the end of 2023, compared to ¥3,355,189,075.52 at the end of 2022 [26]. - The net assets attributable to shareholders rose by 43.98% to ¥1,323,362,421.61 from ¥919,023,935.20 in the previous year [26]. - The basic earnings per share for 2023 was ¥3.85, compared to a loss of ¥0.17 in 2022, marking a 2,364.71% increase [26]. - The company reported a total loss of 42.68 million in 2023, a recovery from losses of 4.68 million in 2022 and 11.42 million in 2021, suggesting improved financial health [34]. - The company achieved operating revenue of 960,282.27 million yuan, a year-on-year increase of 154.94% [50]. - The net profit attributable to shareholders was 38,564.06 million yuan, reflecting a significant year-on-year growth of 2336.51% [50]. Cash Flow and Financial Management - The company reported a negative net cash flow from operating activities of ¥1,050,991,565.28, worsening from a negative cash flow of ¥196,882,465.77 in 2022 [26]. - The net cash flow from operating activities decreased significantly, primarily due to the company's extended payment terms to customers and the requirement for upfront payments to suppliers, resulting in a negative cash flow of -80,808,144.57 yuan, a 97.27% decrease year-on-year [84]. - The company's cash and cash equivalents decreased by 149.44%, resulting in a net decrease of -20,196,139.73 yuan, indicating cash flow challenges amid growing operational scale [84]. - The company is addressing cash flow risks by optimizing payment terms and enhancing financing strategies to ensure operational liquidity [126]. - The company reported a net cash flow from financing activities increased by 298.88% to 1,113,152,358.10 yuan, driven by expanded bank financing to support increased production and inventory procurement [84]. Research and Development - The company invested CNY 30,975.58 million in R&D in 2023, a 169.52% increase year-over-year, maintaining its industry-leading position [54]. - The company has established a self-research system driven by customer demand, mastering multiple core technologies including glass, organic, and silver powder systems [43]. - The company plans to enhance R&D investment and market promotion, focusing on the performance and market leadership of N-type TOPCon battery conductive silver paste [43]. - The company is actively investing in R&D for N-type high-efficiency battery technology, with TOPCon battery technology achieving rapid large-scale production [116]. - The company is focusing on the development of conductive silver paste for N-type TOPCon batteries and HJT batteries, aiming for cost reduction and large-scale production [113]. Market Position and Strategy - The company is actively pursuing market expansion strategies to enhance its competitive position in the electronic materials industry [19]. - The company is committed to expanding its market presence and enhancing product offerings in response to the growing global demand for renewable energy solutions [39]. - The company has established several wholly-owned subsidiaries to strengthen its operational capabilities and market reach [18]. - The company is exploring potential mergers and acquisitions to accelerate its growth strategy [19]. - The company has a strong competitive position in the conductive silver paste market, with a leading market share in photovoltaic battery metallization [113]. Risk Management - The company emphasizes the importance of risk awareness regarding industry cyclicality, market competition, and ongoing R&D and innovation risks [4]. - The company is managing foreign exchange risks through derivatives and increasing the use of domestic silver powder to reduce exposure [124]. - The company has implemented strict risk control measures, including clear trading principles and management responsibilities across departments [98]. - The company is focused on continuous R&D investment to mitigate risks associated with product innovation and market acceptance [122]. Governance and Compliance - The company has established a complete governance structure, including a shareholder meeting, board of directors, and supervisory board, ensuring effective decision-making [134]. - The company maintains a transparent information disclosure system, ensuring timely and accurate communication with shareholders and investors [136]. - The company has implemented compliance training for management and employees to enhance internal control awareness and responsibility [190]. - The company’s governance structure includes a well-defined internal control system, ensuring compliance and effective execution of internal controls [190]. Employee and Talent Management - The total number of employees at the end of the reporting period was 608, including 543 at the parent company and 65 at major subsidiaries [171]. - The company has established a comprehensive talent development system, offering both internal and external training programs tailored to different employee categories [173]. - The company has a unique compensation system that links salary growth directly to performance assessment results, promoting efficiency and sustainable development [172]. - The company emphasizes the importance of training management by tracking training records, hours, assessment results, and satisfaction levels [173]. Product Development and Innovation - The company is committed to recruiting high-end talent in photovoltaic conductive silver paste and semiconductor packaging materials to enhance its core competitiveness [118]. - The company has developed a comprehensive product portfolio in the photovoltaic sector, covering various battery technologies and printing techniques [114]. - The company aims to enhance its product competitiveness by accelerating the iteration and innovation of HJT battery low-temperature conductive silver paste and silver-coated copper paste solutions [116]. - The company is expanding its product applications in the semiconductor field, including conductive silver paste for chip bonding and packaging [115]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 8.00 RMB per 10 shares to all shareholders, based on a total share capital of 100,500,000 shares [5]. - The total distributable profit for the year was 625,057,371.51 yuan, with a cash dividend distribution amounting to 80,400,000.00 yuan, representing 100% of the profit distribution total [177]. - The profit distribution plan was approved by the board and requires shareholder meeting approval for implementation [179].