GZWRC(SH:600992)2024-03-29 16:00Financial Performance - The company's operating revenue for 2023 was CNY 2,188,714,761.18, a decrease of 8.30% compared to CNY 2,386,864,081.68 in 2022[22]. - Net profit attributable to shareholders for 2023 was CNY 33,887,634.04, an increase of 48.38% from CNY 22,838,700.96 in 2022[22]. - The net profit after deducting non-recurring gains and losses reached CNY 26,078,086.96, up 92.88% from CNY 13,520,526.08 in the previous year[22]. - Cash flow from operating activities was CNY 42,768,682.43, a significant increase of 303.05% compared to a negative cash flow of CNY 21,063,604.52 in 2022[22]. - Basic earnings per share increased by 48.39% to CNY 0.1383 in 2023 compared to CNY 0.0932 in 2022[23]. - Total revenue decreased by 8.30% year-on-year, attributed to a decline in product prices due to lower raw material costs[23]. - Main business revenue was ¥2,160,676,907.21, down 8.34% year-on-year, primarily due to a decrease in raw material prices[50]. - Main business cost was ¥1,935,478,495.92, a decrease of 10.64% year-on-year, also attributed to lower raw material prices[50]. Assets and Liabilities - As of the end of 2023, the total assets amounted to CNY 3,349,112,521.22, a slight increase of 0.23% from CNY 3,341,273,245.57 at the end of 2022[22]. - The total liabilities were ¥1,848,008,252.91, reflecting a decrease of 0.90% from the previous period[61]. - The net assets attributable to shareholders were CNY 1,501,104,268.31, reflecting a 1.66% increase from CNY 1,476,534,383.03 in the previous year[22]. Dividends and Capital Management - The company plans to distribute a cash dividend of CNY 0.42 per 10 shares, totaling CNY 10,293,780.00, based on a total share count of 24,509,000 shares as of December 31, 2023[5]. - The company does not plan to increase capital reserves through stock conversion this year[5]. - The company distributed a cash dividend of 0.029 CNY per share, totaling 7,107,610 CNY, which represents 30.83% of the net profit attributable to shareholders for the year 2022[101]. Research and Development - The company has filed a total of 533 patent applications, with 210 patents granted, including 1 invention patent and 3 utility model patents authorized during the reporting period[39]. - Research and development expenses increased by 4.77% to ¥43,049,791.12, reflecting increased investment in innovation[49]. - The total R&D expenditure amounted to ¥105,536,700.95, accounting for 4.82% of the total operating revenue[58]. - The company is focusing on technological innovation and has established a research center for special metal cables and equipment, contributing to the development of original technologies and fostering young talent[39]. Market and Industry Position - The company is one of the largest specialized manufacturers of steel wire and steel ropes in China, producing a range of products with diameters from φ0.15mm to 9.0mm and various structural steel ropes from φ0.6mm to 264mm[37]. - The company is navigating a competitive steel wire rope industry, facing challenges from low industry concentration and increasing price competition due to rapid capacity growth exceeding demand[35]. - The company is actively expanding its market presence with high-performance sealed steel wire ropes used in major sports venues[44]. Governance and Management - The company has established a governance structure that includes a board of 9 directors, with 3 independent directors, ensuring compliance with regulatory standards[75]. - The company has implemented a strict insider information management system to protect shareholder interests and maintain transparency[76]. - The total compensation for senior management during the reporting period amounted to 3.86 million CNY[81]. - The company has a total of 14 directors and supervisors, with varying roles and responsibilities[84]. Environmental Management - The company has implemented a zero discharge policy for wastewater, ensuring all treated wastewater is reused[111]. - The company has a robust environmental management system, including regular monitoring and training to ensure compliance with environmental standards[110]. - The company has established a specialized hazardous waste storage facility, ensuring proper monitoring and management of hazardous materials[134]. - The company has successfully replaced coal-fired boilers with natural gas generators, ensuring cleaner energy use and compliance with emission standards[133]. Strategic Development - The company is committed to technological innovation and aims to lead the development of high-grade metal wire products, enhancing its competitive edge in the market[67]. - The company is focusing on green development and aims to create eco-friendly manufacturing processes in line with environmental standards[67]. - The company is addressing the challenges of transportation costs and raw material price fluctuations by improving logistics and enhancing technology to reduce production costs[71]. Shareholder Information - Guizhou Steel Rope (Group) Co., Ltd. holds 23.46% of the shares, making it the largest shareholder[198]. - The top ten shareholders include various entities, with the largest being Guizhou Steel Rope (Group) Co., Ltd. and several individual shareholders[195]. - The actual controller of the company is the Guizhou Provincial Government State-owned Assets Supervision and Administration Commission[199].