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环球新材国际(06616) - 2023 - 年度业绩
GLOBAL NEW MATGLOBAL NEW MAT(HK:06616)2024-03-28 14:23

Financial Performance - The company's revenue for the fiscal year 2023 was approximately RMB 1,064.1 million, representing an increase of about 16.1% compared to RMB 916.8 million in fiscal year 2022[2] - Gross profit for fiscal year 2023 was approximately RMB 528.3 million, up about 16.0% from RMB 455.3 million in fiscal year 2022, with a gross margin of approximately 49.7% for both years[2] - Profit attributable to owners of the company decreased to approximately RMB 181.6 million, down about 18.9% from RMB 223.8 million in fiscal year 2022, resulting in a net profit margin of approximately 20.0% compared to 25.8% in the previous year[2] - Basic and diluted earnings per share for fiscal year 2023 were RMB 0.15, down from RMB 0.22 in fiscal year 2022[3] - The company reported a total comprehensive income of approximately RMB 209.9 million for fiscal year 2023, down from RMB 236.5 million in fiscal year 2022[6] - Net profit for the fiscal year 2023 was approximately RMB 213.3 million, a decrease of about 9.8% compared to RMB 236.5 million in fiscal year 2022[40] - EBITDA for the fiscal year 2023 was approximately RMB 369.6 million, an increase of about 13.9% from RMB 324.4 million in fiscal year 2022[40] Assets and Liabilities - Total assets as of December 31, 2023, amounted to approximately RMB 5,155.3 million, compared to RMB 3,156.9 million as of December 31, 2022[7] - Non-current assets increased to approximately RMB 1,319.9 million in fiscal year 2023 from RMB 823.9 million in fiscal year 2022[7] - Current assets rose to approximately RMB 3,835.3 million in fiscal year 2023, up from RMB 2,332.9 million in fiscal year 2022[7] - The company's total equity attributable to owners increased to approximately RMB 4,085.1 million in fiscal year 2023 from RMB 2,543.3 million in fiscal year 2022[8] - The total liabilities of the reported segments rose to RMB 738,500 thousand in 2023, compared to RMB 308,201 thousand in 2022, which is an increase of approximately 139%[23] - The company's total liabilities to equity ratio increased to approximately 26.2% as of December 31, 2023, up from 24.1% a year earlier, primarily due to increased bank loans and the issuance of the initial bonds[88] Revenue Breakdown - The revenue breakdown includes RMB 964,003,000 from pearlescent pigment products, RMB 89,433,000 from mica functional fillers and related products, and RMB 10,593,000 from trading pigments[16] - Revenue from external customers in China for 2023 was RMB 961,325 thousand, compared to RMB 896,477 thousand in 2022, reflecting a growth of approximately 7.2%[24] - Revenue from the China operations accounted for approximately 90.3% of total revenue in fiscal year 2023, generating about RMB 960.9 million, an increase of approximately 4.8% from RMB 916.8 million in fiscal year 2022[51] - The Korean operations, which were integrated after the acquisition of CQV, generated revenue of approximately RMB 103.1 million in fiscal year 2023, accounting for about 9.7% of total revenue[51] Strategic Developments - The company acquired 42.45% of CQV Co., Ltd., a South Korean producer and seller of pearlescent pigments, expanding its operations into Korea[17] - Following the acquisition of CQV, the company has identified two reportable segments: China operations and Korea operations, reflecting a strategic shift from a single business model[18] - The company’s strategic focus includes enhancing its product portfolio and expanding market presence through acquisitions and new product development[17] - The integration of CQV has led to significant collaborative achievements in product, sales channels, and R&D, enhancing the company's position in the global pearlescent pigment market[47] Research and Development - Research and development expenses amounted to RMB 75.0 million, representing about 7.1% of operating income, with a year-on-year increase of approximately 4.3%[43] - The company successfully added 16 new authorized patents and filed 3 new patent applications during the fiscal year 2023, bringing the total to 151 patents[43] - The company has developed several new energy battery insulation and flame-retardant materials based on synthetic mica, achieving high-temperature resistance of up to 1,150℃ and high-voltage breakdown resistance of 20KV/mm[53] Operational Efficiency - The company has strengthened its marketing channels and brand influence by participating in various global exhibitions, including ECS2023 in Germany and CHINACOAT2022 in China[45][46] - The company plans to strengthen its international talent integration and enhance collaboration among subsidiaries to drive growth[80] - The company aims to establish a regional headquarters in the Asia-Pacific to centralize financial control and enhance operational efficiency[83] Financial Management - The company has not early adopted any new IFRS that are issued but not yet effective, with the next expected changes taking effect on January 1, 2024[14] - The company’s financial statements are prepared in accordance with International Financial Reporting Standards and comply with the relevant listing rules and disclosure requirements[10] - The company has adopted a share option plan approved by shareholders to reward eligible participants for their contributions[98] Corporate Governance - The company has adopted the corporate governance code as its own, ensuring high standards of governance to protect shareholder interests and enhance corporate value[100] - The roles of the Chairman and CEO are currently held by the same individual, which the board believes ensures consistent leadership and effective strategic planning[101] - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the fiscal year 2023[103] Future Outlook - The company intends to leverage capital market platforms for strategic acquisitions to enhance core competitiveness and accelerate business expansion[85] - The company will focus on R&D in three key areas: pearlescent pigments, synthetic mica functional fillers, and new energy battery materials[84]