CHML(SZ:200521)2024-03-29 16:00Financial Performance - The company's operating revenue for 2023 reached ¥24,247,678,970.56, representing a 19.95% increase compared to ¥20,215,220,192.20 in 2022[28]. - The net profit attributable to shareholders for 2023 was ¥741,038,108.54, a significant increase of 203.04% from ¥244,538,734.49 in 2022[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥749,415,002.39, up 629.43% from ¥102,739,493.47 in 2022[28]. - The basic earnings per share for 2023 was ¥0.7195, an increase of 204.10% from ¥0.2366 in 2022[28]. - The total assets at the end of 2023 amounted to ¥19,391,604,526.19, reflecting a 19.70% increase from ¥16,200,361,212.80 at the end of 2022[29]. - The net assets attributable to shareholders at the end of 2023 were ¥5,824,782,654.09, a 12.70% increase from ¥5,168,286,872.09 at the end of 2022[29]. - The cash flow from operating activities for 2023 was ¥2,082,343,305.04, which is a 42.12% increase compared to ¥1,465,155,748.06 in 2022[28]. - The company's total revenue for 2023 reached approximately 24.25 billion yuan, representing a year-on-year growth of 19.95%[74]. - The net profit for the company was 773 million yuan, showing a significant increase of 179.04% compared to the previous year[61]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 3 CNY per 10 shares to all shareholders based on a total share capital of 1,029,923,715 shares as of December 31, 2023[11]. - The company's major shareholder, Sichuan Changhong, held 281,832,434 shares, accounting for 27.36% of the total share capital as of December 31, 2023[26]. - The board of directors approved a dividend payout of 0.5 CNY per share, reflecting a commitment to returning value to shareholders[192]. Governance and Compliance - The company reported no significant internal control deficiencies during the reporting period, indicating strong governance practices[7]. - The company’s board of directors and supervisory board have confirmed the accuracy and completeness of the annual report, ensuring accountability[5]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report, urging investors to understand the differences between plans, forecasts, and commitments[8]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management, ensuring fairness and compliance with legal regulations[167]. - The company has implemented strict confidentiality procedures for undisclosed insider information, controlling the range of informed personnel[169]. - The company ensures equal treatment of all shareholders, particularly minority shareholders, through standardized procedures for shareholder meetings[168]. Market and Industry Insights - In 2023, the refrigerator industry in China saw a retail sales revenue of CNY 133.3 billion, a year-on-year increase of 7.0%[41]. - The air conditioning market's retail sales revenue reached CNY 211.7 billion in 2023, reflecting a year-on-year growth of 7.5%[42]. - The washing machine market's retail sales revenue was CNY 93.4 billion in 2023, with a year-on-year increase of 5.8%[43]. - The company exported 43.74 million refrigerators in 2023, marking a year-on-year increase of 27.4%[41]. - The company anticipates facing intensified industry competition, exchange rate fluctuations, and raw material price volatility in 2024[142]. Product Development and Innovation - The company plans to enhance its digital transformation and smart manufacturing capabilities, focusing on IoT and 5G technologies[47]. - The company launched new refrigerator models including the "Worry-Free Embedded PRO" and "Frozen Fresh" series, featuring advanced technologies such as dual evaporator systems and AI moisture retention technology[53]. - The company is committed to continuous innovation in technology and products, focusing on freshness and quality across its product lines, including refrigerators, washing machines, and air conditioners[51]. - The company launched the "Hand Wash" washing machine, achieving a cleaning ratio of 0.9, the highest in the industry for similar products, enhancing consumer satisfaction[86]. - The company completed the development of a low-temperature refrigeration system, addressing overseas market demands for ultra-low temperature products[88]. Strategic Goals and Future Outlook - The company aims for double-digit revenue growth in 2024 while maintaining steady net profit growth, focusing on enhancing six key capabilities[130]. - The company plans to strengthen brand, product, marketing, channel, service, and organizational capabilities to drive high-quality development[132]. - The company provided a positive outlook for 2024, projecting a revenue growth of 12% and aiming to reach 11.2 billion CNY[161]. - New product launches are expected to contribute an additional 1 billion CNY in revenue, with a focus on smart home appliances[154]. - The company is actively pursuing overseas market expansion, leveraging its product synergies to enhance operational efficiency and brand presence in key international markets[60]. Research and Development - R&D investment amounted to ¥702,362,069.24 in 2023, an increase of 7.08% from ¥655,917,101.66 in 2022[90]. - Research and development investments increased by 30%, totaling 500 million CNY, focusing on smart home technologies[162]. - The number of R&D personnel increased by 8.74% to 1,667 in 2023 from 1,533 in 2022[90]. - The company is investing heavily in R&D, allocating 500 million CNY for the development of new technologies in the next year[152]. Operational Efficiency - The company has implemented a performance-oriented management system to improve internal efficiency and competitiveness, focusing on value chain management[58]. - The gross margin improved to 35%, up from 32% in the previous year, due to cost optimization strategies[158]. - The company plans to enhance its online sales channels, targeting a 25% increase in e-commerce sales[154]. - The company has set a target to reduce operational costs by 15% over the next two years through efficiency improvements[192].