WXHS(SH:603090)2024-03-29 16:00Financial Performance - The company's operating revenue for 2023 was approximately CNY 695.93 million, a decrease of 2.57% compared to CNY 714.27 million in 2022[22]. - Net profit attributable to shareholders was CNY 53.78 million, representing a slight increase of 0.73% from CNY 53.39 million in the previous year[22]. - The net cash flow from operating activities surged to CNY 111.68 million, a significant increase of 600.71% compared to CNY 15.94 million in 2022[22]. - The company's total assets decreased by 4.85% to CNY 819.51 million from CNY 861.26 million in 2022[22]. - The basic earnings per share for 2023 was CNY 0.54, up from CNY 0.53 in 2022[23]. - Operating profit reached CNY 70.92 million, reflecting a year-on-year increase of 10.39%[43]. - The total operating revenue for 2023 was CNY 695,929,588.42, a decrease of 2.0% from CNY 714,270,138.02 in 2022[188]. - Net profit for 2023 increased to CNY 55,661,738.21, compared to CNY 54,235,544.16 in 2022, reflecting a growth of 2.6%[188]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares, totaling 30,000,000.00 CNY based on a total share capital of 100,000,000 shares as of December 31, 2023[6]. - The cash dividend amount for the reporting period is ¥30,000,000.00, which represents 55.78% of the net profit attributable to ordinary shareholders in the consolidated financial statements, amounting to ¥53,779,616.34[115]. - The company’s profit distribution plan is based on actual conditions and aims to protect the long-term interests of shareholders[101]. Audit and Compliance - The company has received a standard unqualified audit report from Zhongxinghua Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The company has not received any non-standard audit opinions from its accounting firm[141]. - The audit report indicates that there are no significant misstatements in the other information provided by the company[173]. - The company plans to continue its collaboration with Zhongxinghua Accounting Firm for the 2023 annual audit, ensuring compliance with auditing standards[100]. - The company has not faced any penalties from securities regulatory authorities in the past three years[95]. Governance and Management - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[4]. - The board of directors consists of 5 members, including 2 independent directors, complying with legal requirements[82]. - The company has established a sound corporate governance structure, enhancing operational standards and risk prevention capabilities[82]. - The company’s governance practices align with relevant laws and regulations, with no significant discrepancies noted[83]. - The company has established a remuneration and assessment committee to oversee the compensation of directors and senior management[94]. Research and Development - Research and development expenses rose by 9.93% to CNY 31.03 million, indicating increased investment in innovation[44]. - The company aims to enhance its research and development efforts, particularly in high-value-added products, to improve market competitiveness[75]. - The company is focusing on the development of compact and efficient heat exchangers to meet the increasing demands of electric vehicles and machinery[70]. Market and Industry Trends - The company faced challenges in the heat exchanger industry but also identified new market opportunities driven by environmental and energy-saving policies[31]. - Approximately 60% of the company's business comes from exports, indicating a significant reliance on foreign markets[78]. - The market trend indicates a shift towards modular product supply and systematized product development in the heat exchanger industry[70]. Environmental and Social Responsibility - The company invested ¥1,000,000 in environmental protection funds during the reporting period[122]. - The company has achieved ISO 14001:2015 environmental management system certification, enhancing its commitment to environmental protection and energy conservation[133]. - The company has not experienced any major safety incidents in 2023, maintaining a strong focus on safety management and employee training[132]. Financial Position and Assets - The company's cash and cash equivalents increased to ¥162,899,004.62, representing 19.88% of total assets, up from 14.01% in the previous period, reflecting a 35.04% increase due to improved sales collections[59]. - The total assets of the company amounted to CNY 819.51 million, a decrease of 4.85% compared to the previous year[43]. - Total liabilities decreased from ¥312,167,009.87 in 2022 to ¥243,444,786.46 in 2023, a reduction of approximately 22%[183]. Employee and Workforce - The company reported a total of 939 employees, with 936 in major subsidiaries and 3 in the parent company[107]. - The employee composition includes 617 production personnel, 42 sales personnel, 145 technical personnel, 13 financial personnel, 50 administrative personnel, and 72 others[107]. - The company has established a comprehensive salary management system to enhance employee compensation quality and strengthen the relationship between the company and its employees[109]. Future Outlook - The company plans to achieve a revenue of 800 million yuan and a net profit of 65 million yuan for the year 2024[75]. - The company intends to establish production bases in North America and Europe within the next three years to enhance its international presence[74].