Neway CNC(SH:688697)2024-03-25 16:00Financial Performance - The company's operating revenue for 2023 reached CNY 2,321,036,869.98, representing a 25.76% increase compared to CNY 1,845,571,232.25 in 2022[24]. - The net profit attributable to shareholders for 2023 was CNY 317,646,506.17, up 21.13% from CNY 262,232,192.44 in the previous year[24]. - The net cash flow from operating activities increased by 38.89% to CNY 351,300,894.79 in 2023, compared to CNY 252,932,718.27 in 2022[24]. - The total assets of the company as of the end of 2023 were CNY 3,652,773,240.07, a 12.41% increase from CNY 3,249,628,414.07 at the end of 2022[24]. - The company's net assets attributable to shareholders increased by 13.14% to CNY 1,607,471,555.57 at the end of 2023, compared to CNY 1,420,842,647.62 at the end of 2022[24]. - Basic earnings per share for 2023 were CNY 0.97, reflecting a 21.25% increase from CNY 0.80 in 2022[25]. - The company's main business revenue increased by 25.83% year-on-year, with domestic revenue showing slight growth and overseas revenue doubling[107]. - The gross margin improved to 35%, up from 30% in the previous year, reflecting better cost management and pricing strategies[145]. Dividend Policy - The company plans to distribute a cash dividend of RMB 6.00 per 10 shares, totaling RMB 196,000,020.00, which accounts for 61.70% of the net profit attributable to shareholders for 2023[5]. - The proposed profit distribution plan is subject to approval at the company's annual general meeting in 2024[174]. - The company has established a cash dividend policy that complies with its articles of association and shareholder resolutions[175]. - The cash dividend policy aims for a minimum of 80% cash distribution in mature stages without major capital expenditures[170]. - The board of directors will consider industry characteristics and operational factors when determining profit distribution arrangements[170]. Research and Development - The company has a workforce of 1,241 employees, including 251 research and development personnel[34]. - The company has established a high-quality R&D team with 251 personnel, accounting for 20.23% of total employees, including 39 senior engineers and 42 engineers[53]. - Total R&D expenditure for the year reached ¥101,927,096.04, an increase of 24.22% compared to the previous year[81]. - R&D expenditure accounted for 4.39% of operating revenue, a slight decrease of 0.06 percentage points from the previous year[81]. - The company applied for 54 new intellectual property projects during the reporting period, including 7 invention patents, with a total of 42 projects authorized[77]. - The company holds a total of 212 patents, including 19 invention patents and 39 software copyrights, as of the end of 2023[89]. - The company is focusing on the development of high-performance CNC machine tools, including a high-speed horizontal machining center and a heavy-duty precision boring machine[90]. Market and Sales Strategy - The company has actively expanded its overseas market presence, resulting in an increase in overseas revenue proportion[24]. - The company employs a combination of distribution and direct sales models to enhance market coverage and brand effect[35]. - The company has expanded its sales network to over 50 countries and regions, with a focus on the Yangtze River Delta region in China[93]. - The marketing strategy includes expanding into the domestic high-end CNC machine tool market and overseas markets, establishing a nationwide marketing service network[135]. - The company has implemented a new marketing strategy that focuses on digital channels, resulting in a 40% increase in online sales[145]. Environmental and Sustainability Initiatives - The company invested RMB 562.73 million in environmental protection during the reporting period[183]. - The company has established a dedicated EHS management team to oversee environmental protection and compliance with relevant laws and regulations[198]. - The company has implemented a comprehensive waste management strategy, adhering to standards for both general industrial solid waste and hazardous waste, to prevent secondary pollution[188]. - The company has successfully passed environmental impact assessments for multiple projects, ensuring compliance with local environmental regulations[189]. - The company has reduced carbon dioxide equivalent emissions by 296 tons through various energy-saving measures[199]. - The company achieved energy savings of 214,000 kWh by optimizing machining shifts and adjusting production batches[199]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has established specialized committees, including an audit committee and a remuneration and assessment committee, to oversee governance[158]. - The company’s board of directors has consistently participated in meetings, with no instances of consecutive absences reported[155]. - The company has maintained compliance with regulatory requirements, with no penalties from securities regulatory authorities in the past three years[154]. Risk Management - The company has detailed various risks and countermeasures in its annual report, emphasizing the importance of risk awareness for investors[6]. - The company faces risks related to reliance on imported core components, which may affect production stability and cost competitiveness[96]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not faced any violations regarding decision-making procedures for external guarantees[7]. Employee and Management - The company has established a competitive compensation strategy to attract and motivate talent, ensuring alignment with strategic goals[166]. - Total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to CNY 1,094.80 million[153]. - The company has increased its R&D personnel to 251, representing 20.23% of the total workforce, up from 16.18% in the previous year[88]. - The company held five board meetings during the reporting period, with all resolutions passed without any objections[154].