SENCI ELECTRIC MACHINERY CO.(SH:603109)2024-03-28 16:00Financial Performance - The company's operating revenue for 2023 was approximately ¥2.66 billion, a decrease of 2.35% compared to ¥2.73 billion in 2022[24]. - The net profit attributable to shareholders for 2023 was approximately ¥226.14 million, representing a 10.67% increase from ¥204.33 million in 2022[24]. - The net profit attributable to shareholders for 2023 was CNY 195,538,434.83, a decrease of 12.02% compared to CNY 222,250,590.20 in 2022[26]. - The operating cash flow for 2023 was CNY 167,547,375.39, down 61.85% from CNY 439,124,677.39 in the previous year[26]. - The total assets increased to CNY 3,314,406,719.10, reflecting a growth of 6.73% from CNY 3,105,373,469.86 in 2022[26]. - Basic earnings per share for 2023 rose to CNY 1.0900, a 9.76% increase from CNY 0.9931 in 2022[27]. - The diluted earnings per share for 2023 was CNY 1.0895, marking a 10.3% increase compared to CNY 0.9878 in 2022[27]. - The gross margin for the main business was 26.36%, with a decrease of 2.40% compared to the previous year[61]. - The company reported a significant increase in sales expenses by 6.69% to CNY 213,336,427.88, attributed to higher after-sales and promotional costs[57]. - The company reported a total revenue of 2.722 billion CNY for the fiscal year 2023, reflecting a year-over-year increase of 15%[106]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥0.35 per share, totaling approximately ¥73.11 million based on the total share capital of 208,872,720 shares[7]. - The board of directors has unanimously approved the profit distribution plan for the fiscal year 2023[7]. - The company declared a cash dividend of 0.35 yuan per 10 shares, totaling 73,105,452 yuan, which represents 32.33% of the net profit attributable to ordinary shareholders[134]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Chongqing Kaimier Power Machinery Co., Ltd. and Chongqing Wugu General Equipment Co., Ltd. in April 2023[27]. - The company acquired 100% equity of Chongqing Kaimier Power Machinery Co., Ltd. for cash consideration of CNY 25.4649 million to expand its product line and resolve industry competition[100]. - The company invested ¥2,546.49 million and ¥3,045 million to acquire 100% equity in two companies, making them wholly-owned subsidiaries[78]. - The company completed the acquisition of 100% equity in Chongqing Kaimier Power Machinery Co., Ltd. and Chongqing Wugu General Equipment Co., Ltd. for a total of 55.49 million RMB, significantly reducing related party transactions[178]. Research and Development - The company's R&D expenses increased by 14.29% to CNY 89,785,770.55, reflecting a commitment to enhancing technological capabilities[57]. - The total number of R&D personnel is 299, making up 9.8% of the company's total workforce[70]. - The company’s total R&D investment accounted for 3.37% of its operating revenue[69]. - Research and development expenditures increased by 30% this year, totaling 300 million CNY, aimed at advancing product innovation[106]. - The company is focusing on the development of high-efficiency and energy-saving products, including variable frequency motors and rare earth permanent magnet motors[88]. Market and Sales Performance - The company exported 9.4888 million generator sets in 2023, a year-on-year decrease of 1.8%, while the export value reached 5.272 billion USD, an increase of 5.1%[44]. - The export value of generator sets to Latin America grew the fastest at 28.60%, while Asia accounted for the highest export value share at 34.4%[46]. - The company is positioned in the small generator segment, which is a core component of gasoline generator sets, and is experiencing stable market demand due to its applications in emergency power supply and mobile power needs[42]. - The company aims to increase market share in the generator segment by transitioning from small to medium and large generators, while also focusing on specialized applications[94]. Compliance and Governance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not faced any issues with a majority of directors being unable to ensure the accuracy and completeness of the annual report[9]. - The company received a corrective measure from the China Securities Regulatory Commission on March 28, 2023, due to non-compliance with the conditions for granting stock incentives to 25 individuals who were not employees[113]. - The company was issued a warning by the Shanghai Stock Exchange on June 28, 2023, for inaccurate disclosure of financial information and related party transactions[114]. Environmental and Social Responsibility - The company invested 1,003,200 yuan in environmental protection during the reporting period[143]. - The average nitrogen oxide emission concentration was 42 mg/m³, which is below the standard limit of 50 mg/m³ as per the boiler emission standards[145]. - The average particulate matter emission concentration was 45 mg/m³, also below the standard limit of 50 mg/m³ according to the casting industry emission standards[145]. - The company has established a wastewater treatment station and equipped with various air pollution control devices, all of which are operating normally[146]. - The company has implemented an emergency response plan for environmental incidents and has filed it with the environmental protection bureau[148]. Future Outlook and Strategy - The company plans to enhance its electric motor and control business by expanding from small to large motors and from low to high voltage, continuously improving its product matrix[94]. - The company plans to accelerate its global operations and brand development, aiming for rapid growth in scale and operational efficiency[95]. - The company has initiated a new marketing strategy that is projected to increase brand awareness by 40% over the next year[106]. - The company aims to enhance performance through strict management of raised funds and accelerate the implementation of investment projects, which are expected to improve profitability[166].