Financial Performance - The company's revenue for the fiscal year reached approximately RMB 40.375 billion, an increase of about 26.4% compared to RMB 31.931 billion in the previous year[17]. - The gross profit for the fiscal year was approximately RMB 3.6 billion, down from RMB 3.702 billion in the previous year[17]. - The net profit attributable to the company was approximately RMB 348 million, a decrease from RMB 417 million in the previous year[17]. - The basic earnings per share for the fiscal year was RMB 0.31, compared to RMB 0.38 in the previous year[17]. - Total revenue for the year 2023 reached RMB 40,374,512 thousand, an increase from RMB 31,930,551 thousand in 2022, representing a growth of approximately 26.5%[32]. - Gross profit for 2023 was RMB 3,599,731 thousand, compared to RMB 3,701,517 thousand in 2022, indicating a slight decrease of about 2.7%[32]. - Net profit for the year 2023 was RMB 530,514 thousand, down from RMB 587,849 thousand in 2022, reflecting a decline of approximately 9.8%[32]. - Basic and diluted earnings per share for 2023 were RMB 0.31, compared to RMB 0.38 in 2022, a decrease of about 18.4%[32]. - The company's profit before tax for the year 2023 was RMB 754,824 thousand, a decrease of 7.7% compared to RMB 818,077 thousand in 2022[48]. - The company reported a total depreciation and amortization expense of RMB 655,590 thousand in 2023, down from RMB 707,436 thousand in 2022, a decline of 7.3%[46]. - The company reported a net profit attributable to shareholders of RMB 347,528,000 for the year, down from RMB 417,181,000 in 2022, indicating a decline of 16.7%[141]. Dividend and Shareholder Returns - The company plans to distribute a final dividend of HKD 0.053 per share, with a total distribution amounting to approximately HKD 58.5 million, down from HKD 72.9 million in the previous year[17]. - The company declared a final dividend of HKD 58,519,000 for the year ended December 31, 2023, pending approval at the upcoming shareholders' meeting[66]. Market and Industry Insights - By the end of 2023, the number of electric bicycles in China surpassed 400 million, exceeding the 310 million cars, making electric bicycles the most common mode of transportation in the country[2]. - The electric bicycle market in China is projected to grow at a compound annual growth rate of approximately 3.8%, reaching around 60 million units from 2023 to 2027[2]. - The introduction of new standards for delivery electric bicycles is expected to drive the high-quality development of the electric bicycle industry[10]. - The demand for lead-acid batteries in the electric bicycle sector is expected to remain stable, supported by a large replacement market and the sensitivity of consumer groups to pricing[115]. - The new national standards for electric bicycles are expected to drive a wave of replacement purchases, benefiting leading companies in the high-quality battery sector[115]. Research and Development - The company’s research and development expenses for 2023 were RMB 1,213,781 thousand, compared to RMB 1,097,402 thousand in 2022, representing an increase of about 10.6%[32]. - The group's R&D expenditure for the year was approximately RMB 1.214 billion, which accounted for about 3.0% of total revenue[165]. - The group has been recognized as a national technology innovation demonstration enterprise and has established multiple R&D platforms, enhancing its competitive advantage in the battery industry[95]. - The group has hired over 20 renowned experts and formed a strategic partnership with Nobel Prize winner Professor Andre Geim for the development of graphene battery technology[95]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 8,939,276 thousand, an increase from RMB 8,483,247 thousand in 2022, representing a growth of approximately 5.4%[34]. - Current assets net amount for 2023 was RMB 2,301,298 thousand, up from RMB 1,552,276 thousand in 2022, indicating a significant increase of about 48.2%[34]. - The group reported a significant increase in cash and cash equivalents, amounting to 3,540,761 million, up from 2,157,975 million[176]. - The group's total liabilities increased to 12,853,207 million from 11,495,088 million, reflecting a rise in financial obligations[176]. Strategic Initiatives - The company has strategically deployed production facilities in regions with high demand for lead-acid batteries, including Shandong, Jiangsu, Henan, Zhejiang, Anhui, Jiangxi, and Hebei provinces, to reduce storage and logistics costs[3]. - The group has implemented effective strategic layouts and deepened brand building to enhance brand influence and competitiveness[86]. - The group aims to continue developing "zero carbon superpower" demonstration projects and will focus on technological innovation in new energy batteries, high safety technology, and new materials[120]. - The group will focus on market-driven strategies, emphasizing product differentiation, brand building, and smart management to enhance productivity and competitiveness[120]. Compliance and Governance - The company is committed to maintaining high levels of corporate governance to align with shareholder interests[14]. - The company is currently evaluating the impact of new accounting standards on its financial statements, with an expectation that these changes will not have a significant effect[40]. - The group has been applying the revised international financial reporting standards retroactively, ensuring compliance with the latest regulations[37]. Employee and Operational Insights - Total employee costs, including director remuneration, amounted to RMB 1,960,199 thousand in 2023, up from RMB 1,904,042 thousand in 2022, reflecting an increase of 2.9%[46]. - The company employed 16,721 staff as of December 31, 2023, a slight decrease from 16,977 in 2022, with total employee costs amounting to RMB 1,960,199,000[145]. - The company plans to continue enhancing employee training and providing competitive compensation to improve service quality[145].
超威动力(00951) - 2023 - 年度业绩