Longtech(300916)2024-03-21 16:00Financial Performance - The company's operating revenue for 2023 was ¥1,029,037,049.39, a decrease of 20.31% compared to ¥1,291,331,635.38 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥108,507,819.26, down 40.09% from ¥180,795,368.59 in 2022[22]. - The net cash flow from operating activities decreased by 43.34% to ¥122,310,832.10 in 2023 from ¥215,861,861.69 in 2022[22]. - Basic earnings per share for 2023 were ¥0.75, a decline of 40.48% compared to ¥1.26 in 2022[22]. - The company reported a total of ¥19,928,523.41 in non-recurring gains and losses for 2023, compared to ¥12,438,439.14 in 2022[30]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, with a decrease of 47.48% to ¥88,579,295.85 in 2023[22]. - The weighted average return on net assets was 9.19% in 2023, down from 17.21% in 2022, reflecting an 8.05% decrease[22]. - The total revenue for 2023 was approximately ¥1.03 billion, a decrease of 20.31% compared to ¥1.29 billion in 2022[58]. - The company reported a net profit attributable to shareholders of 109 million yuan, down 40.09% year-on-year, while the net profit excluding non-recurring gains and losses was 89 million yuan, a decline of 47.48%[41]. Dividend and Profit Distribution - The company reported a profit distribution plan, proposing a cash dividend of 3 RMB per 10 shares (including tax) based on a total of 144,644,007 shares[3]. - The company distributed cash dividends of 5 yuan per 10 shares, totaling 47.90 million yuan, reflecting a year-on-year increase in cash dividends[44]. - The company’s profit distribution plan for 2023 includes a cash dividend of 3 CNY per 10 shares, totaling 43,393,202.10 CNY, with no stock dividends or capital reserve conversions planned[150]. - The company’s cash dividend distribution accounted for 100% of the total profit distribution amount, aligning with its profit distribution policy[150]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, urging investors to understand the differences between plans, forecasts, and commitments[3]. - The company has established a comprehensive governance structure to ensure compliance and effective management practices[3]. - The company actively engages in investor relations management, providing multiple channels for communication and ensuring timely and accurate information disclosure[120]. - The company has established a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective coordination and checks and balances[114]. - The board of directors consists of 7 members, including 3 independent directors, complying with relevant laws and regulations[117]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring a complete and independent operational capability[123]. - The company has a complete and independent financial department with a strict internal audit system, ensuring financial decisions are made independently[124]. - The company has established a risk management system overseen by the audit committee and internal audit department[158]. Research and Development - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[127]. - The company is investing heavily in R&D, allocating 10% of its revenue, approximately 150 million yuan, towards new technology development[178]. - Research and development expenses increased by 30%, totaling 150 million RMB, focusing on innovative technologies[132]. - The company has received multiple honors, including being recognized as a national high-tech enterprise and a "Guangdong Province Famous Trademark"[36]. - The company holds a total of 92 patents, including 18 invention patents, 54 utility model patents, and 20 design patents[46]. - The company is developing an infrared sensor-based fan control circuit to enhance smart control capabilities, currently in the R&D stage[68]. - The company is focusing on the development of underwater cleaning robots and has entered the mass production phase for related technologies[71]. - The company is enhancing its capabilities in the electronic cigarette sector with new high-power electronic cigarette detection technologies, currently in the sample validation stage[71]. Market and Product Development - The company operates in the intelligent controller manufacturing industry, which is a high-tech sector supported by national and local government policies[33]. - The core function of intelligent controllers is to enhance the automation and intelligence of various terminal products, with applications expanding into smart homes, automotive electronics, and industrial equipment[34]. - The intelligent controller market is expected to grow rapidly due to increasing demand for automation and intelligence in consumer products[34]. - The company plans to continue its strategic focus on market expansion and new product development to improve future performance[22]. - The company aims to improve its market share by developing high-quality customers in smart home, automotive electronics, and new consumer electronics sectors[103]. - The company is expanding its market presence in the automotive sector with new electric actuator technologies, which are in the design verification stage[72]. - The company is also developing a new electric sliding door controller platform, aimed at enhancing its competitiveness in the automotive electronics market[72]. Financial Management and Investment - The company has established a financial derivative trading management system to regulate foreign exchange derivative transactions[88]. - The company emphasizes risk control measures for foreign exchange derivative transactions, including clear trading principles and counterparty management[87]. - The company reported an investment income of 7,522,523.82, accounting for 6.61% of total profit, primarily from returns on wealth management products[77]. - The company has committed to supplementing working capital with 70 million RMB, with 14.38 million RMB utilized so far[94]. - The total commitment for all projects is 376.86 million RMB, with 14.38 million RMB invested in the current year[94]. - The company plans to repurchase shares, with the total amount not exceeding 20% of the net profit attributable to shareholders from the previous fiscal year[173]. - The actual controller is committed to increasing shareholding if the repurchase plan is not implemented or approved, ensuring compliance with relevant regulations[173]. Employee and Management - The total number of employees at the end of the reporting period is 1,594, with 890 in the parent company and 704 in major subsidiaries[144]. - The professional composition includes 1,318 production personnel, 29 sales personnel, 175 technical personnel, 14 financial personnel, and 58 administrative personnel[144]. - The company implemented a cash dividend policy, distributing 5 CNY per 10 shares, totaling 47,902,500 CNY, with a capital reserve conversion of 5 shares for every 10 shares held, increasing total shares to 143,707,500[148]. - The company aims to optimize its compensation system based on local wage levels and operational performance to attract and retain talent[145]. - The company has established a comprehensive human resources management system, focusing on employee development and performance evaluation[167]. Risk Management - The company faces a high risk of foreign sales concentration, with exports primarily to Asia, Africa, and North America, which could impact revenue and profitability if major importing countries experience economic downturns or significant trade policy changes[106]. - The company has a good overall receivables recovery situation, with most accounts receivable aging within one year, but there are risks associated with individual customers failing to pay on time[108]. - The company faces risks from fluctuating exchange rates, particularly as a significant portion of foreign sales is settled in USD, and plans to strengthen foreign exchange management[108]. - The company will closely monitor domestic and international market dynamics to ensure the smooth progress of fundraising projects and enhance risk resistance capabilities[109]. Corporate Social Responsibility - The company emphasizes its commitment to environmental protection and safety, having passed relevant certifications without any pollution incidents[164]. - The company actively engages in corporate social responsibility, providing support to employees in need through its charity foundation[167].