JASIC(SZ:300193)2024-03-22 16:00Financial Performance - The company's operating revenue for 2023 was CNY 1,146,179,186, a decrease of 6.97% compared to CNY 1,232,096,018 in 2022[23] - Net profit attributable to shareholders for 2023 was CNY 203,469,539, representing an increase of 15.38% from CNY 176,341,148 in the previous year[23] - The net profit after deducting non-recurring gains and losses was CNY 184,409,790, up by 12.00% from CNY 164,658,829 in 2022[23] - The net cash flow from operating activities increased by 79.86% to CNY 307,778,089 from CNY 171,125,414 in the previous year[23] - Basic earnings per share for 2023 were CNY 0.42, a rise of 16.67% compared to CNY 0.36 in 2022[23] - The weighted average return on net assets increased to 9.37% in 2023 from 8.20% in 2022[23] - The company reported a total of ¥19,059,748.57 in non-recurring gains for 2023, compared to ¥11,682,319.11 in 2022[29] - Operating profit increased by 14.64% to CNY 229,428,418.45, while total profit rose by 15.71% to CNY 229,391,298.01[40] - Net profit attributable to shareholders increased by 15.38% to CNY 203,469,538.72, driven by lower raw material costs and increased international sales[40] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4 per 10 shares, totaling CNY 191,339,922 based on 475,849,805 shares[4] - The cash dividend policy aligns with the company's articles of association and has been approved by the shareholders' meeting[138] - The total number of shares for the dividend distribution is based on 475,849,805 shares, excluding shares held in the company's repurchase account[139] - The company has maintained a positive net profit available for distribution to shareholders during the reporting period[140] Market and Industry Outlook - The welding and cutting equipment industry is expected to expand significantly due to increasing demand in various sectors, with China accounting for over 50% of the global steel used in welding[33] - The industry is witnessing a shift towards automation and digitalization, driven by the "14th Five-Year" plan for intelligent manufacturing[35] - The company aims to enhance its market position in high-end industrial welding machines through technological innovation and development[34] - The company is focused on expanding its market share by improving its research and development capabilities, particularly in advanced welding technologies[34] Risks and Challenges - The company is facing risks including international political and economic risks, intensified market competition, and fluctuations in procurement costs[4] - The company actively monitors the price trends of key components to mitigate procurement cost volatility risks[91] - The company holds a certain amount of USD assets, and overseas sales are primarily settled in USD, making it susceptible to exchange rate fluctuations[91] Research and Development - Research and development expenses for 2023 were ¥67,201,076.16, a decrease of 6.39% from ¥71,788,181.04 in 2022[61] - The number of R&D personnel decreased by 5.99% from 167 in 2022 to 157 in 2023, with the proportion of R&D personnel in total workforce dropping from 17.31% to 15.38%[62] - R&D investment amounted to ¥67,201,076.16 in 2023, representing 5.86% of operating revenue, a slight increase from 5.83% in 2022[63] - The company has maintained a comprehensive independent product R&D system and established global distributor networks to enhance market responsiveness[48] Governance and Compliance - The company has a governance structure that complies with relevant laws and regulations, ensuring equal rights for all shareholders[96] - The company has established an investor relations management system to enhance communication and transparency with investors[105] - The company has no significant discrepancies in governance practices compared to regulatory requirements[106] - The company has established a complete and independent financial accounting department, ensuring independent financial decision-making and management[108] Environmental Responsibility - The company has implemented measures to manage waste, including treatment of wastewater and air emissions, ensuring compliance with local environmental standards[153] - The company has established an environmental management system compliant with ISO 14001:2015 and has passed certification[154] - The company adheres to national and local environmental regulations, regularly monitoring pollutant emissions and noise through qualified third-party agencies[158] Employee and Management - The total number of employees at the end of the reporting period is 1,021, with 905 in the parent company and 116 in major subsidiaries[134] - The company has established a performance management system linked to a flexible compensation system to ensure employee interests and motivate the core team[135] - The company has conducted targeted training programs to enhance employee skills across various departments, contributing to overall operational efficiency[136] Financial Management - The company has a total of 42 million RMB in entrusted financial management, with 22.4 million RMB in unexpired balance[191] - The company has received a total of 1.21116 million RMB in annualized returns from its financial products during the reporting period[191] - The company has no overdue or unrecovered entrusted financial management amounts, indicating a stable financial position[192]