GETM(SH:600232)2024-04-01 16:00Financial Performance - The company's operating revenue for 2023 was CNY 1,370,074,503.26, representing a 5.17% increase compared to CNY 1,302,719,425.75 in 2022[21]. - The net profit attributable to shareholders for 2023 was CNY 35,333,124.75, a decrease of 28.62% from CNY 49,498,470.67 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 31,098,762.06, down 36.73% from CNY 49,149,858.53 in 2022[21]. - Basic earnings per share decreased by 28.57% to CNY 0.10 in 2023 from CNY 0.14 in 2022[24]. - Diluted earnings per share also fell by 28.57% to CNY 0.10 in 2023 compared to CNY 0.14 in 2022[24]. - The weighted average return on equity decreased by 1.39 percentage points to 3.43% in 2023 from 4.82% in 2022[24]. - The operating cost rose to ¥1,146,619,565.90, reflecting a 5.21% increase from ¥1,089,836,765.53, primarily due to increased sales[46][47]. - The company reported a significant decrease in other non-current assets, down to ¥119,000.00 (0.007%) from ¥1,811,551.00 (0.108%), a reduction of 93.43%[64]. Cash Flow and Assets - The cash flow from operating activities showed a significant decline, with a net outflow of CNY 49,817,307.29 compared to a net inflow of CNY 93,097,646.85 in 2022, marking a 153.51% decrease[21]. - The total assets at the end of 2023 were CNY 1,717,579,620.69, a 2.82% increase from CNY 1,670,481,361.68 at the end of 2022[23]. - The net assets attributable to shareholders decreased by 1.53% to CNY 1,035,702,524.97 from CNY 1,051,819,934.31 in 2022[21]. - The company reported a net cash flow from financing activities of 22,041,003.05 yuan, a significant improvement from -149,666,137.10 yuan in the previous year[60]. - The total cost of materials in the textile industry was 605,266,695.02 yuan, reflecting a 19.18% increase from the previous year[52]. Research and Development - Research and development expenses surged by 46.01% to ¥29,419,061.32, up from ¥20,148,802.21, indicating a strong focus on innovation[46][47]. - The company has developed over 50 patents, including 8 invention patents, and is a leading unit in the national hemp equipment manufacturing standards[39]. - The company is focusing on innovation in artificial intelligence and green recycling to enhance competitiveness in the textile machinery sector[31]. - The company plans to strengthen its research and development investments in automated textile machinery to maintain its leading position in the market[69]. Market and Competition - The company has acknowledged potential operational and market competition risks, urging investors to be cautious[7]. - The company aims to maintain a domestic market share of 80% for domestic textile equipment by the end of the 14th Five-Year Plan[31]. - The company maintains a market share of over 85% in the hemp textile machinery sector, with a focus on innovation and technology development[39]. - The global injection molding machine market is valued at over ¥100 billion, with China's market size reaching ¥26.3 billion in 2021 and a compound annual growth rate of approximately 5% over the past five years[34]. Corporate Governance - The report includes a standard unqualified audit opinion from Tianjian Accounting Firm[4]. - The company emphasizes transparency in information disclosure, fulfilling obligations in a timely and accurate manner to protect investor interests[84]. - The company has established a sound internal control system to enhance governance and operational efficiency, in line with relevant laws and regulations[85]. - The company held one shareholders' meeting during the reporting period, ensuring compliance with the Articles of Association and protecting the rights of minority shareholders[83]. Social Responsibility and Sustainability - The company actively engages in social responsibility initiatives, balancing the interests of shareholders, employees, and other stakeholders[84]. - The company invested CNY 2.184 million in environmental protection during the reporting period[130]. - The company reported a total COD discharge of 20.92 tons, with a monthly average concentration of 88.18 mg/L, which is within the discharge standard[132]. - The company has implemented a liquefied natural gas (LNG) supply equipment technology transformation project, replacing coal boilers with LNG storage and vaporization devices, aiming for improved environmental quality and reduced maintenance costs[138]. Future Outlook - Future outlook includes a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[90]. - The company plans to establish a joint venture overseas, as discussed in the board meeting on December 20, 2023[102]. - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 25% over the next five years[90]. - The company is exploring partnerships with tech firms to integrate advanced analytics into their operations, aiming to improve decision-making processes[90].