AVICHM(SH:600765)2024-03-14 16:00Financial Performance - The company's operating revenue for 2023 reached CNY 10,577,133,501.84, representing a slight increase of 0.07% compared to the previous year[20]. - Net profit attributable to shareholders of the listed company was CNY 1,328,586,898.38, an increase of 10.70% year-on-year[20]. - The net profit attributable to the parent company was CNY 1,289,110,605.65, reflecting an 8.81% increase compared to the previous year[20]. - The company's total revenue for the reporting period reached CNY 1,057,713.35 million, an increase of 0.07%, with a comparable growth of 12.77% considering the impact of the VAT policy change and other factors[24]. - The net profit attributable to shareholders for the period was CNY 132,858.69 million, up 10.70%, while the net profit after deducting non-recurring gains and losses was CNY 128,911.06 million, an increase of 8.81%[24]. - The total profit amounted to CNY 1.605 billion, reflecting a year-on-year increase of 4.62%, while the net profit attributable to shareholders reached CNY 1.329 billion, up by 10.7%[47]. - The company's total assets at the end of 2023 were CNY 25,429,355.53 million, a 20.52% increase from CNY 21,100,029.48 million at the end of 2022[24]. - The net assets attributable to shareholders increased to CNY 11,488,100.58 million, reflecting a growth of 10.56% compared to CNY 10,390,552.41 million in 2022[24]. - The company reported a total of CNY 39,476,292.73 million in non-recurring gains and losses for 2023, compared to CNY 15,441,809.34 million in 2022[26]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.71 per 10 shares, totaling CNY 398,576,069.51 based on 1,470,825,812 shares outstanding as of the end of 2023[5]. - The remaining distributable profit of CNY 385,668,836.09 will be allocated for future profit distributions[5]. - The company has not implemented any capital reserve transfers to increase share capital in this profit distribution plan[5]. - For the year 2024, the company intends to distribute a cash dividend of 2.71 CNY per 10 shares, amounting to 398,576,069.51 CNY, which represents 30% of the net profit attributable to shareholders[169]. Research and Development - The company’s R&D investment significantly increased in 2023, resulting in 302 patent applications, including 173 invention patents[40]. - The company invested CNY 661 million in R&D, which is a 52.3% increase compared to the previous year, indicating a strong commitment to innovation[50]. - The number of R&D personnel is 747, accounting for 10.57% of the total workforce[64]. - The company is focusing on the development of new materials and processes, particularly high-strength titanium alloys and high-temperature resistant materials[106]. - The company has established a "large aircraft forging and casting joint innovation platform" to enhance collaboration with partners[29]. Market Expansion and Strategy - The company is actively expanding into overseas markets and high-end domestic markets, maintaining a positive growth trend[31]. - The company aims to leverage opportunities from national policies promoting the aerospace industry as a strategic emerging sector[32]. - The company is pursuing a transformation towards a specialized supplier of aviation general infrastructure, driven by technological innovation[118]. - The company plans to enhance its market presence by entering three new regions in 2024, aiming for a 20% increase in market share[141]. - The company aims for a revenue target of 11.9 billion yuan in 2024, representing a 12.51% increase from 10.577 billion yuan in 2023[113]. Operational Efficiency - The company is focused on improving lean production levels and cost reduction efforts, which have positively impacted the gross profit margin of its products[24]. - The gross profit margin for the forging and casting industry was 29.76%, showing an increase despite a 1.34% decline in revenue for this segment[52]. - The company is enhancing its competitive edge through technological innovation and improving production efficiency[40]. - The company is implementing intelligent manufacturing initiatives to optimize production capacity and reduce energy consumption[119]. Governance and Compliance - The board of directors and management have confirmed the authenticity and completeness of the annual report[4]. - The company emphasized the importance of maintaining stakeholder rights and balancing interests among shareholders, employees, and society[132]. - The company completed its internal control self-assessment, confirming that no major defects were found in its control system during the reporting period[133]. - The company has established several specialized committees, including the Audit and Risk Control Committee and the Strategic Investment and ESG Committee, to oversee various aspects of governance[153]. Environmental and Social Responsibility - The company invested 1,229.39 million CNY in environmental protection during the reporting period[181]. - The company implemented significant energy-saving and emission reduction projects, including boiler upgrades and rooftop solar power generation, contributing to a reduction of 28,300 tons of CO2 equivalent emissions[191][192]. - The company has developed and implemented a carbon peak and carbon neutrality action plan for 2023[192]. - The company has made donations totaling 22.92 million CNY for public welfare projects, benefiting 1,000 people[194]. - The company has been recognized as an "Advanced Collective" for rural revitalization efforts in Guizhou Province for the year 2022[195].