BROADEX(SZ:300548)2024-03-22 16:00Financial Performance - The company's net profit for the year decreased compared to the same period last year, with specific reasons and measures for improving profitability detailed in the "Management Discussion and Analysis" section[3]. - The company's operating revenue for 2023 was ¥1,675,388,120, representing a decrease of 0.57% compared to ¥1,685,005,470 in 2022[23]. - Net profit attributable to shareholders for 2023 was ¥81,470,203.7, a significant decline of 59.49% from ¥201,098,478 in 2022[23]. - The net profit after deducting non-recurring gains and losses was ¥11,043,826.2, down 92.41% from ¥145,452,482 in 2022[23]. - Basic earnings per share for 2023 were ¥0.30, a decrease of 61.04% compared to ¥0.77 in 2022[23]. - Total assets at the end of 2023 were ¥3,216,214,957.89, a decrease of 3.16% from ¥3,321,128,999 at the end of 2022[23]. - The net assets attributable to shareholders decreased by 19.05% to ¥1,641,474,913.04 from ¥2,027,787,719.38 in 2022[23]. - The company reported a negative net profit for the third and fourth quarters of 2023, with figures of -¥14,732,102.83 and -¥59,336,716.24 respectively[26]. - The company achieved a total operating revenue of 1.675 billion CNY in 2023, with a net profit of 114 million CNY, reflecting a strong performance despite market challenges[49]. Dividend and Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.8 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[3]. - The cash dividend accounted for 100% of the total profit distribution amount, indicating a strong commitment to returning value to shareholders[170]. - The company distributed a cash dividend of 2.2 yuan per 10 shares, totaling 58,078,815.96 yuan for the 2022 fiscal year[169]. Market and Industry Outlook - The telecommunications market in China is projected to grow from 6.4 million gigabit broadband users in 2020 to 60 million by 2025, with a net increase of 71.53 million users in 2023[35]. - By the end of 2023, the number of fixed internet broadband access users in China reached 636 million, with 163 million users having access speeds of 1000 Mbps or higher, marking a year-on-year net increase of 71.53 million users[35]. - The number of 10G PON ports exceeded 10 million by the end of 2023, with a growth rate of 51.2% compared to the previous year, enabling coverage for over 500 million households[35]. - The global cloud infrastructure service expenditure reached $78.1 billion in Q4 2023, reflecting a year-on-year growth of 19%[36]. - The market for active optical cables (AOC) is expected to grow at a compound annual growth rate (CAGR) of 15% from 2024 to 2028, while passive copper cables (DAC) and active electrical cables (AEC) are projected to grow at 25% and 45% CAGR respectively[36]. Research and Development - The company is committed to enhancing its research and development capabilities to innovate new products and technologies in the optical communication field[15]. - The company’s R&D expenditure reached CNY 121 million, accounting for 7.25% of total revenue[51]. - The company holds 206 patents, including 108 invention patents, indicating a strong focus on research and development capabilities[47]. - The company is actively developing next-generation high-speed optical modules for wireless transmission, indicating a focus on innovation and market expansion[35]. - The company plans to enhance its product offerings through technology innovation, focusing on active devices and optical conversion chip design[47]. Acquisitions and Strategic Investments - The company completed the acquisition of Changxin Sheng in 2022 and Silicon Line GmBH in April 2023, which will enhance its market position and product offerings[44]. - The company completed the acquisition of a 42.29% stake in Changxinsheng, making it a subsidiary[52]. - The company acquired a 100% stake in Silicon Line GmbH for ¥191,315,579.45, which is expected to enhance its market position[63]. - The company acquired a 42.29% stake in Changxin Sheng, which is now included in the consolidated financial statements[200]. Operational Efficiency and Cost Management - The company has established a robust quality management system and cost control measures to mitigate the impacts of intense industry competition[48]. - The company is committed to maintaining a stable gross margin by continuously reducing production costs through R&D iterations and supplier management[115]. - The company has implemented new strategies to enhance operational efficiency and reduce costs[136]. Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder interests[122]. - The company operates independently from its controlling shareholder, with clear asset ownership and no significant related party transactions[124]. - The company has established a complete internal organizational structure, including a marketing center, operations center, chip research institute, financial center, and human resources center[126]. - The company has a commitment to not seek improper benefits from its controlling shareholder's position, protecting the interests of the listed company and other shareholders[128]. Employee Management and Development - The total number of employees at the end of the reporting period was 1,283, with 338 in the parent company and 945 in major subsidiaries[163]. - The company has implemented a performance evaluation system linking employee salaries to individual performance and overall company economic benefits[164]. - The company has established a stock option incentive plan to attract and retain talent, aligning the interests of shareholders, the company, and core team members[165]. - The company provides training programs to enhance employee capabilities and support strategic goals[166]. Future Outlook and Guidance - The company provided guidance for 2024, expecting revenue growth to be between 10% and 12%[132]. - The company has set ambitious performance guidance for the upcoming fiscal year, aiming for a revenue growth of 20%[135]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million allocated for potential deals[132]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[145].