HAC(SH:600202)2024-04-08 16:00Financial Performance - The net profit attributable to the shareholders of the parent company for 2023 is CNY 21,336,818.64, after deducting the statutory surplus reserve of CNY 1,595,823.60, with available profit for distribution amounting to CNY 211,417,202.88[6] - The company plans not to distribute dividends for 2023 due to negative net cash flow from operating activities and significant funding needs for technological upgrades and R&D[6] - The company will carry forward the available profit for distribution to 2024 to supplement working capital[6] - The company's operating revenue for 2023 reached ¥1,422,612,566.22, representing a 28.97% increase compared to ¥1,103,088,240.59 in 2022[27] - The net profit attributable to shareholders decreased by 43.04% to ¥21,336,818.64 from ¥37,456,569.61 in the previous year[27] - The basic earnings per share for 2023 was ¥0.0557, down 42.99% from ¥0.0977 in 2022[28] - The total assets increased by 19.43% to ¥2,936,798,895.80 at the end of 2023, compared to ¥2,459,087,707.94 at the end of 2022[27] - The cash flow from operating activities showed a significant decline, with a net outflow of ¥34,866,492.83 compared to an inflow of ¥47,287,076.46 in 2022[27] - The weighted average return on equity decreased to 2.60% in 2023 from 4.73% in 2022, a drop of 2.13 percentage points[28] - The company reported a net profit of ¥6,813,738.54 in Q1 2023, which decreased to a loss of ¥2,168,299.97 in Q4 2023[30] - The net profit after deducting non-recurring gains and losses for 2023 was ¥29,215,865.73, a 35.08% increase from ¥21,629,110.01 in 2022[27] Operational Highlights - The company has seen an increase in order contracts for 2024, indicating a positive outlook for future revenue generation[6] - The total order amount for the company reached 1,433.96 million RMB, representing a growth of 48.88% year-on-year, with domestic orders increasing by 20.47% and international orders surging by 541.50%[38] - The company recorded non-recurring losses of ¥7,879,047.09 in 2023, compared to gains of ¥15,827,459.60 in 2022[33] - The company achieved an annual revenue of 1,422.61 million RMB, a growth of 28.97% compared to the previous year, with main business revenue of 1,411.32 million RMB, increasing by 28.87%[37] - The company completed 154 design contracts, including 13 international projects, showcasing significant technological advancements in the cooling industry[45] - The company has a backlog of contracts totaling 1,080.46 million RMB for execution in 2024 and beyond[38] Research and Development - Research and development investment amounted to 46.63 million RMB, accounting for 3.28% of revenue, with a year-on-year increase of 30.97%[44] - The company is focusing on increasing investment in technology research and development and technical transformation to achieve comprehensive intelligent manufacturing upgrades[6] - The company is actively involved in research and development of new technologies and products[116] - The company plans to invest in research and development to enhance its competitive edge in the industry[1] Financial Management - The company has established a comprehensive internal control system to mitigate operational risks and enhance governance structures[154] - The company has implemented a management control system for subsidiaries, ensuring compliance with governance and operational standards[156] - The company maintained effective internal control over financial reporting as of December 31, 2023, according to the internal control audit report issued by Zhongshun Yatai Accounting Firm, which provided a standard unqualified opinion[157] - The company has established long-term relationships with suppliers to secure stable prices and supply, and has implemented price adjustment clauses in contracts to adapt to raw material price fluctuations[103] Corporate Governance - The company held three shareholder meetings during the reporting period, all conducted in compliance with relevant laws and regulations[108] - The board of directors held 11 meetings, ensuring compliance with the company's articles of association and maintaining a transparent governance structure[109] - The company has not provided guarantees for its controlling shareholder or related enterprises, ensuring independence in financial operations[109] - The company has continuously improved its corporate governance structure in line with legal requirements, enhancing operational transparency and compliance[106] Market Expansion and Strategy - The company aims to expand into new markets, focusing on strategic emerging industries such as new energy and new materials, including lithium battery and photovoltaic projects[98] - The company is targeting to increase its market presence in over 20 countries along the Belt and Road Initiative, enhancing product recognition and competitiveness[98] - The company plans to continue expanding its market presence and enhancing product development strategies to drive future growth[58] - A strategic acquisition is being considered to strengthen market position and expand product offerings[1] Environmental and Social Responsibility - The company invested CNY 434,700 in environmental protection during the reporting period[158] - The company has established an energy management system and successfully passed the management system certification audit to reduce energy consumption and improve energy efficiency[161] - The company implemented carbon reduction measures by using clean energy for power generation[162] - Total donations for public welfare projects amounted to CNY 11,553,100, including the donation of 196 mobile sampling pavilions to various local governments in Harbin[162] Legal and Compliance Matters - The company has ongoing significant litigation and arbitration matters, with the latest developments disclosed in various announcements throughout 2023[180] - The company has engaged in multiple related transactions, including purchasing goods and services from subsidiaries at market prices, with total related transaction amounts reaching RMB 360.55228 million[183] - The company has disclosed its compliance with market pricing in all related transactions, ensuring transparency and adherence to regulatory standards[183] - The company has not faced any administrative penalties related to environmental issues during the reporting period[159]