HASCO(SH:600741)2024-03-28 16:00Financial Performance - In 2023, the company reported a revenue of ¥168.59 billion, representing a 6.52% increase compared to ¥158.27 billion in 2022[22]. - The net profit attributable to shareholders was ¥7.21 billion, a slight increase of 0.15% from ¥7.20 billion in the previous year[22]. - The basic earnings per share for 2023 was ¥2.288, showing a marginal increase of 0.13% from ¥2.285 in 2022[21]. - The net cash flow from operating activities reached ¥11.32 billion, marking a 13.28% increase from ¥9.99 billion in 2022[22]. - The company's total assets at the end of 2023 were ¥176.10 billion, an 8.17% increase from ¥162.80 billion at the end of 2022[22]. - The company's net assets attributable to shareholders increased by 9.06% to ¥57.77 billion from ¥52.97 billion in 2022[22]. - The company reported a net profit of ¥6.50 billion after deducting non-recurring gains and losses, which is a 0.62% increase from ¥6.46 billion in 2022[22]. - The weighted average return on equity decreased to 13.03%, down 1.08 percentage points from 14.11% in 2022[21]. - The gross profit margin for the main business decreased by 1.01 percentage points to 12.65% compared to the previous year[50]. - The operating cost for the current period is RMB 146.14 billion, reflecting a 7.64% increase from RMB 135.76 billion year-on-year[47]. Market and Sales Performance - The domestic automobile market showed a steady recovery, with total production and sales reaching 30.161 million and 30.094 million units, respectively, marking a year-on-year increase of 11.6% and 12%[33]. - The sales of new energy vehicles reached 8.34 million units, reflecting a significant growth of 33.7% and a market share increase to 31.6%[33]. - 53.82% of the company's main business revenue in 2023 came from non-SAIC Group vehicle customers, with significant contributions from Tesla Shanghai, FAW-Volkswagen, and BYD among others[42]. - The company achieved a 26.71% increase in net profit from the metal forming and mold segment, rising to ¥412.62 million in 2023[63]. - The company reported a significant increase in vehicle sales, achieving a year-on-year growth of 15% in Q4 2023[176]. Research and Development - The total R&D expenditure is RMB 7.12 billion, accounting for 4.22% of the operating revenue[56]. - The company applied for 1,431 patents in 2023, including 405 invention patents, and obtained 1,325 patents, with 425 being invention patents[59]. - The company has 11,420 R&D personnel, representing 20.13% of the total workforce[57]. - The company launched the industry-leading Safe Unit, a complete safety solution based on zero-gravity seats, showcasing its integrated capabilities in seating, safety, electronics, and motors[39]. - The company has developed a full range of drive motors and electronic control products covering 400V-800V, securing new projects with SAIC General and Leap Motor[40]. Strategic Initiatives - The company is focused on business innovation, market share expansion, and cost optimization to navigate competitive pressures in the industry[32]. - The company is actively expanding its international market presence, particularly in automotive interior systems and seating[34]. - The company plans to enhance its competitive advantage by focusing on "intelligent and electric" trends, leveraging its extensive business layout and strong integration capabilities[87]. - The company will continue to target growth in emerging markets and key customers, particularly in the new energy and luxury vehicle segments[88]. - The company aims to strengthen its global supply capabilities and international operations in response to the global platform development and procurement trends of international automakers[85]. Environmental and Social Responsibility - The company invested 5,994.5 million RMB in environmental protection during the reporting period[124]. - The company emitted a total of 7.31 tons of chemical oxygen demand and 0.17 tons of ammonia nitrogen from wastewater in 2023[130]. - The company implemented measures to reduce carbon emissions, achieving a reduction of 15,134.73 tons of CO2 equivalent during the reporting period[160]. - The company established a dual-carbon management team to promote green low-carbon development and carbon neutrality goals[161]. - The company has made significant efforts in environmental protection and sustainable resource utilization, aligning its development strategy with social responsibility[163]. Governance and Compliance - The company completed four periodic reports and twenty-six temporary announcements during the reporting period, ensuring timely and accurate information disclosure to investors[93]. - The company’s governance structure is compliant with relevant laws and regulations, ensuring effective decision-making and operational coordination[93]. - The company has not faced any penalties from securities regulatory authorities in the past three years[102]. - The company’s board of directors includes independent directors who ensure compliance and governance standards are met[96]. - The total remuneration for all directors, supervisors, and senior management personnel reached RMB 14.7867 million as of the report date[100]. Future Outlook - For 2024, the company aims to achieve consolidated revenue of CNY 170.6 billion, with operating costs controlled within CNY 148.5 billion[87]. - The company aims for a revenue growth target of 20% for the fiscal year 2024[177]. - Future guidance suggests a revenue growth target of 12% for the upcoming fiscal year, supported by ongoing market expansion efforts[179]. - The company is exploring strategic acquisitions to bolster its logistics capabilities, with a focus on companies specializing in green technologies[180]. - New product launches are scheduled for Q2 2024, including two electric SUV models aimed at the domestic market[176].