TFE(SH:600237)2024-03-18 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 86,745,811.91 CNY in 2023, representing a 17.30% increase from 73,952,742.72 CNY in 2022[5]. - Total revenue for 2023 was 1,083,207,912.29 CNY, up 4.11% from 1,040,482,674.93 CNY in 2022[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 82.08 million RMB, reflecting a year-on-year increase of 25.65%[33]. - Basic earnings per share were 0.15 RMB, up 15.38% compared to 0.13 RMB in 2022[24]. - The weighted average return on net assets was 5.93%, slightly down from 5.98% in the previous year[24]. Cash Flow and Assets - The net cash flow from operating activities surged by 161.58% to 215,575,370.16 CNY in 2023, compared to 82,413,684.38 CNY in 2022[23]. - The company's total assets increased by 24.96% to 2,401,741,021.73 CNY at the end of 2023, compared to 1,922,070,045.49 CNY at the end of 2022[23]. - The net cash flow from operating activities increased by 161.58% compared to the previous period, primarily due to increased cash received from sales of goods and services[58]. - Cash and cash equivalents increased by 41.73% from the beginning of the period, mainly due to stock issuance and stock incentive plans[60]. Profit Distribution and Reserves - The company reported a negative distributable profit for shareholders, amounting to -159,656,440.98 CNY at the end of 2023[5]. - The company will not distribute profits or increase capital reserves due to the negative distributable profit for 2023[5]. Revenue Breakdown - Revenue from film materials was 438,077,982.55 CNY, a decrease of 9.33% compared to the previous year, while capacitor revenue increased by 23.71% to 506,057,458.93 CNY[49]. - The company achieved operating revenue of 1,083.21 million RMB in 2023, representing a year-on-year increase of 4.11%[33]. Research and Development - R&D expenses for the period totaled 37,963,248.02 yuan, which is 3.5% of total operating income[56]. - The company is focusing on optimizing its product structure and enhancing profitability through strategic investments in key projects[65]. - The company aims to enhance its innovation and R&D capabilities, focusing on new energy and high-end product development[77]. Market and Competition - The company acknowledges the risk of intensified market competition in the capacitor film industry, which may affect its market share and profitability[81]. - The thin film capacitor market growth is expected to drive rapid expansion in the polypropylene film market, particularly in the new energy sector[74]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[6]. - The company is committed to improving its governance structure in compliance with relevant laws and regulations[86]. - The company has implemented an internal control system that meets the requirements of relevant regulatory authorities, ensuring compliance and asset safety[122]. Environmental and Social Responsibility - The company invested 1.4211 million yuan in environmental protection during the reporting period[127]. - The company has constructed 19 sets of dust collection devices and 12 sets of two-stage activated carbon adsorption devices to control emissions[132]. - The company invested a total of 335.64 million RMB in poverty alleviation and rural revitalization projects, benefiting 268 individuals[138]. Shareholder Information - The largest shareholder, Tongling Dajiang Investment Holding Co., Ltd., holds 128,897,956 shares, representing 20.73% of the total shares[177]. - The company has a total of 57,306,590 restricted shares, which are subject to a lock-up period[167]. - The total number of shares outstanding is 621,676,150, with 564,369,560 shares being freely tradable, representing 90.78% of the total[167]. Financial Management - The company has approved the issuance of shares to specific targets for the year 2022, with a focus on the feasibility analysis of the raised funds[103]. - The company plans to use idle funds for purchasing financial products, as approved in the board meeting on September 1, 2023[104]. - The company has not engaged in any cash asset management through third parties during the reporting period[154]. Audit and Internal Controls - The financial statements were audited and found to fairly reflect the company's financial position as of December 31, 2023[197]. - The company implemented various procedures to test the effectiveness of internal controls related to the revenue cycle[200].