Financial Performance - Revenue increased by approximately 12.46% to approximately RMB 83.89 billion[2] - Profit attributable to shareholders increased by approximately 1.42% to approximately RMB 1.82 billion[2] - Basic earnings per share grew to approximately RMB 1.62[2] - Proposed final dividend of HKD 0.43 per share[2] - Gross profit decreased to RMB 5.96 billion from RMB 6.39 billion[4] - The group's net profit for the year was RMB 1,835,705 thousand, a decrease from RMB 2,079,678 thousand in 2022, representing a decline of approximately 11.7%[18] - The company's profit before tax for the year ended December 31, 2023, was RMB 2,563,485,000, a decrease of 6.4% compared to RMB 2,738,841,000 in 2022[33] - The net profit margin decreased from 2.79% in 2022 to 2.19% in 2023, reflecting the impact of declining lithium battery gross margins[72] Revenue Segmentation - External sales from the manufacturing segment reached RMB 47,397,428 thousand, up from RMB 41,971,044 thousand in the previous year, indicating a growth of about 12.3%[18] - External sales from the trading segment increased to RMB 36,493,545 thousand from RMB 32,627,597 thousand, reflecting a growth of approximately 11.4%[18] - Revenue from the manufacturing segment was RMB 42,423,301 thousand, up from RMB 35,747,300 thousand in the previous year, representing a growth of 18.7%[23] - The lead-acid power battery segment generated revenue of approximately RMB 39.152 billion, with a year-on-year increase of about 19.32%[47] - The high-end eco-friendly battery business achieved revenue of approximately RMB 42.423 billion, representing a year-on-year growth of about 18.68%[46] - The lead-carbon energy storage battery business generated approximately RMB 338 million in revenue, representing a year-on-year growth of over 100%[50] - The new energy battery segment achieved revenue of approximately RMB 882 million, focusing on lithium-ion, hydrogen fuel, and sodium-ion battery development[52] Costs and Expenses - The cost of goods sold increased significantly to RMB 74,642,355,000 from RMB 67,160,592,000, reflecting a rise of approximately 11.0%[34] - Total employee costs for the year were RMB 3,283,960,000, slightly up from RMB 3,276,024,000 in the previous year[34] - Distribution and selling costs rose by approximately 15.86% from about RMB 1.229 billion in 2022 to approximately RMB 1.424 billion in 2023, driven by higher transportation and travel expenses[66] - Financing costs rose to RMB 482,780 thousand in 2023, up from RMB 340,738 thousand in 2022, indicating a 41.7% increase[30] - The income tax expense for 2023 was RMB 727,780 thousand, compared to RMB 659,163 thousand in 2022, which is an increase of 10.4%[31] Assets and Liabilities - Total assets less current liabilities increased to RMB 23.46 billion from RMB 19.76 billion[8] - Cash and cash equivalents increased to RMB 9.46 billion from RMB 7.55 billion[7] - Total equity increased to RMB 18.44 billion from RMB 17.17 billion[8] - Non-current assets increased to RMB 17.41 billion from RMB 13.60 billion[6] - Total liabilities rose by approximately 23.23% from about RMB 22.970 billion in 2022 to approximately RMB 28.306 billion in 2023, with non-current liabilities increasing by about 93.37%[71] - Total liabilities to total assets ratio increased to 19.42% in 2023 from 15.47% in 2022[79] Market and Strategic Initiatives - The company is focusing on the development of new energy storage technologies, including sodium-ion and hydrogen fuel cells, while continuously iterating lithium-ion battery technologies[44] - The company has established offices in the Netherlands, Vietnam, and Thailand, signing cooperation agreements with over 20 overseas distributors to expand its market presence[45] - The company is actively promoting its products in overseas markets, with steady sales growth in power batteries and initial success in energy storage products[49] - The company aims to strengthen its high-end environmental battery business and expand its energy storage industry as a second growth curve[63] - The company plans to enhance its global strategy and localize operations overseas to increase its influence in the renewable energy sector[63] Recycling and Sustainability - The company has achieved a maximum metal material recovery rate of over 99% in its recycling operations, contributing to both economic and environmental benefits[45] - The company's recycling industry generated approximately RMB 3.6 billion in revenue during the reporting period[58] - The lead-acid battery recycling segment achieved external revenue of about RMB 3.069 billion, with a steady growth trend in China's lead-acid battery recycling market[59] - The lithium-ion battery recycling segment generated revenue of approximately RMB 531 million, with a projected market scale nearing RMB 100 billion by 2026[61] - The company has implemented a digital recycling model to enhance the management of the entire lifecycle of waste lead-acid batteries[60] Corporate Governance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the financial reporting procedures and internal controls of the group[89] - The company has adopted the corporate governance code as per the listing rules, with the current chairman and CEO being the same individual to enhance operational efficiency[90] - Deloitte has confirmed the financial figures for the year ending December 31, 2023, but did not provide an audit opinion on the preliminary announcement[91] - All directors have confirmed compliance with the standard code for securities trading throughout the reporting period[92]
天能动力(00819) - 2023 - 年度业绩