Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 1,942,475,000, an increase of 10.0% from RMB 1,765,736,000 in 2022[37]. - The gross profit for the year was RMB 239,843,000, compared to RMB 203,041,000 in the previous year, reflecting a gross margin improvement[48]. - The net profit for the year was RMB 81,082,000, up from RMB 56,265,000 in 2022, representing a year-over-year growth of 44.1%[48]. - The annual profit attributable to shareholders was RMB 79,096,000, compared to RMB 55,355,000 in the previous year, representing an increase of 42.9%[64]. - The company recorded a total comprehensive income of RMB 80,529,000, up from RMB 51,687,000 in the previous year[49]. - The average gross profit margin improved from 11.5% in the previous year to approximately 12.3%, primarily due to effective wage cost control[66]. - Revenue from plastic parts was RMB 1,657,513,000, an increase of 10.9% from RMB 1,494,470,000 in 2022[37]. - Revenue from molds was RMB 284,962,000, up from RMB 271,266,000 in the previous year, indicating a growth of 5.1%[37]. Employee and Compensation - For the year ended December 31, 2023, the total employee compensation cost was approximately RMB 257,523,000, a decrease of 7.9% from RMB 279,927,000 in 2022[7]. - The group employed approximately 3,186 employees as of December 31, 2023, compared to about 2,950 employees in 2022, indicating an increase in workforce[7]. - The group is committed to retaining core talent and providing adequate professional training to its employees[11]. Investments and Operations - The group plans to continue investing resources in its operations in Mexico and Serbia to meet customer demands and expand production lines for automotive parts[10]. - The company has established wholly-owned subsidiaries in Mexico and Serbia, which have commenced operations to serve customers in the Americas and Europe[101]. - The company plans to continue investing in advanced machinery and automation to improve production efficiency and reduce labor costs[89]. - The company plans to enhance automation and improve production processes to increase efficiency and maintain competitive advantages in the market[112]. Financial Position and Liabilities - The group has approximately RMB 352,426,000 of unused bank credit facilities available as of December 31, 2023[6]. - Current liabilities exceeded current assets by approximately RMB 95,818,000, but the company believes it has sufficient financial resources to meet future financing needs[52]. - Trade payables and notes payable as of December 31, 2023, were RMB 675,085,000, an increase from RMB 585,615,000 in the previous year[99]. - Interest expenses for bank and other loans increased to RMB 36,849,000 in 2023 from RMB 24,072,000 in 2022[41]. - The financial costs for the fiscal year ending December 31, 2023, increased by approximately 53.1% to about RMB 36,849,000, up from RMB 24,072,000 for the previous year[105]. Dividends - The proposed dividend for the year 2023 is RMB 8,120,000, slightly lower than RMB 8,260,000 for the year 2022[22]. - The company proposed a final dividend of RMB 0.013 per share, subject to shareholder approval at the upcoming annual general meeting[31]. - The company will pay a final dividend of RMB 0.013 per share for the fiscal year ending December 31, 2023[115]. Market and Customer Relations - The group has strengthened communication with clients in Europe, America, and Japan to better understand industry developments and customer requirements[9]. - The company focuses on the design, development, and manufacturing of precision injection molds and plastic components, serving well-known domestic automotive and office supplies manufacturers[78]. - The company aims to enhance product quality and expand its customer base by leveraging its expertise in mold production and providing one-stop services[73]. - The company is cautious in selecting new customers, considering factors such as product pricing and the customer's industry reputation[89]. - The group anticipates generating operating cash inflows from its future business operations, indicating a positive outlook for profitability[6]. Assets and Equity - Non-current assets increased to RMB 1,205,021,000 from RMB 962,086,000, reflecting a growth of 25.3%[50]. - Current assets were approximately RMB 1,378,758,000, compared to RMB 1,359,911,000 in 2022, with inventory decreasing to RMB 458,366,000 from RMB 534,360,000[72]. - As of December 31, 2023, equity amounted to RMB 896,522,000, an increase from RMB 824,113,000 in 2022[72]. - The company’s total assets less current liabilities amounted to RMB 1,109,203,000, an increase from RMB 976,560,000[50]. - Trade receivables increased to RMB 646,406,000 from RMB 590,993,000, indicating a rise in customer orders[62]. Governance and Compliance - Conpri Limited holds a 36.65% equity interest in the company, with Mr. Masuda owning 40.0%, Mr. Masuda Toshimitsu also owning 40.0%, and the employee organization of Nihon Yusei holding 20.0% (non-voting) equity[120]. - The board believes that Nihon Yusei will not compete with the group, and a non-competition agreement was established to clearly delineate the group's business from Nihon Yusei to avoid future competition[121]. - The non-competition agreement prohibits any related parties from directly or indirectly selling, distributing, or supplying any products belonging to the group's product portfolio[122]. - The group does not consider it necessary to purchase directors and officers insurance due to the simplicity of its business and the board's understanding of the group's operations[123]. - The executive directors are Mr. Shima Lin and Mr. Xu Yong, while the non-executive directors include Mr. Masuda Katsutoshi and Mr. Masuda Toshimitsu[124].
YUSEI(00096) - 2023 - 年度业绩