GoerTek(SZ:002241)2024-03-27 16:00Financial Performance - Goertek's operating revenue for 2023 was approximately ¥98.57 billion, a decrease of 6.03% compared to ¥104.89 billion in 2022[19]. - The net profit attributable to shareholders for 2023 was approximately ¥1.09 billion, down 37.80% from ¥1.75 billion in 2022[19]. - The net profit after deducting non-recurring gains and losses was approximately ¥859.93 million, a decline of 47.16% from ¥1.63 billion in 2022[19]. - The total assets at the end of 2023 were approximately ¥73.74 billion, a decrease of 4.45% from ¥77.18 billion at the end of 2022[19]. - The company reported a basic earnings per share of ¥0.32 for 2023, down 38.46% from ¥0.52 in 2022[19]. - The company's total revenue for 2023 was CNY 98,573,902,273.14, representing a year-on-year decrease of 6.03%[48]. - The net profit attributable to shareholders was CNY 108,807.67 million, down 37.80% compared to the previous year[48]. - The company's operating costs amounted to CNY 89,753.06 million, a decrease of 3.73% year-on-year[48]. Cash Flow and Investments - The company reported a cash flow from operating activities of approximately ¥8.15 billion, a slight decrease of 1.99% from ¥8.32 billion in 2022[19]. - Operating cash inflow totaled CNY 80.17 billion, down 13.76% year-over-year, while cash outflow decreased by 14.92% to CNY 72.01 billion[67]. - The net increase in cash and cash equivalents was CNY 2.35 billion, reflecting a 41.55% increase year-over-year[67]. - The company invested a total of 649.94 million yuan in the current period, with a cumulative investment of 4,021.97 million yuan as of December 31, 2023[91]. - The total investment during the reporting period was ¥8,889,964,898.25, a decrease of 3.48% compared to ¥9,210,478,674.05 in the previous year[78]. Research and Development - Research and development expenses were CNY 457,285.54 million, accounting for 4.64% of total revenue and 14.50% of the latest audited net assets[50]. - The company applied for a total of 3,003 patents during the reporting period, including 2,249 invention patents, and has cumulatively applied for 32,209 patents as of December 31, 2023[43]. - The company has ongoing R&D projects aimed at enhancing its competitive edge in MEMS sensors and optical components for VR/MR/AR applications[63]. - The company is investing 200 million RMB in R&D for new technologies in the upcoming year[151]. - The company is committed to increasing its R&D investment, particularly in areas such as acoustics, optics, microelectronics, and automation, to build core technological competitiveness[110]. Market Trends and Challenges - The global smartphone shipment volume in 2023 was approximately 1.17 billion units, reflecting a year-on-year decline of about 3.2%[31]. - The company experienced a decline in demand due to global economic recovery challenges and geopolitical conflicts affecting consumer spending[31]. - The global VR/AR product shipments in 2023 have shown a significant decline, impacting the demand for consumer electronics, including smart wearables and TWS products[97]. - The global macroeconomic recovery remains insufficient, with a complex external environment posing challenges for the company's development in 2024[114]. - The company recognizes the importance of a robust supply chain and is aware of potential impacts from international political and economic changes on the industry[108]. Corporate Governance and Management - Goertek's financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company emphasizes improving corporate governance and internal control systems to protect the rights and interests of minority investors[133]. - The company has established an independent financial department and accounting system to ensure financial autonomy[147]. - The board of directors held a total of 12 meetings during the reporting period, with the latest meeting on December 28, 2023[178]. - The company has a diverse management team, with various roles including chairman, president, and vice presidents, each with specified remuneration[177]. Shareholder Returns and Dividends - Goertek reported a cash dividend of 1.00 RMB per 10 shares for all shareholders, with no bonus shares issued[4]. - Cumulative cash dividends from 2021 to 2023 reached RMB 1.509 billion, representing 51.01% of the average net profit from 2020 to 2022[136]. - The company provided a total cash dividend of 338,292,888.90 CNY, which accounts for 31.09% of the net profit attributable to shareholders for the year[194]. - The total distributable profit for 2023 was reported at 11,036,440,853.38 CNY, with a cash dividend policy ensuring a minimum of 20% of profits distributed as cash dividends[194]. Strategic Initiatives and Future Outlook - The company plans to deepen the integration of strategic business development and talent cultivation in 2024, enhancing its training programs[191]. - The company provided a revenue guidance for 2024, projecting a growth rate of 10% to 12%[151]. - The company aims to deepen its strategy of "precision components + smart hardware integration" to enhance its competitive advantage in both fields[109]. - The company is likely to pursue new product development and market expansion strategies, as indicated by the diverse backgrounds of its management team[156]. - The company plans to enhance its supply chain efficiency, aiming to reduce lead times by 20%[166].