Hsino Tower (SH:601096)2024-04-10 16:00Financial Performance - The company's operating revenue for 2023 was approximately ¥9.30 billion, an increase of 5.98% compared to ¥8.77 billion in 2022[5]. - The net profit attributable to shareholders for 2023 was approximately ¥124 million, a decrease of 25.16% from ¥166 million in 2022[5]. - The basic earnings per share for 2023 were ¥0.0618, down 25.18% from ¥0.0826 in 2022[5]. - The company reported a decrease in diluted earnings per share of 25.18% to ¥0.0618 in 2023 compared to the previous year[5]. - The weighted average return on net assets decreased by 1.60 percentage points to 3.96% in 2023 from 5.56% in 2022[5]. - The gross profit margin for transmission line towers decreased by 0.33 percentage points to 4.90%[62]. - The gross profit margin for the main business was 4.90%, down 0.33 percentage points year-on-year due to the impact of market bidding prices and raw material price fluctuations[76]. - The company achieved operating revenue of 9.295 billion yuan, a year-on-year increase of 5.98%[40]. - The company achieved operating revenue of CNY 9,025,387,462.61 for transmission line towers, with a year-on-year increase of 7.51%[62]. - The total operating costs for the reporting period were CNY 8,582,846,985.22, an increase of 7.88% year-on-year[64]. Assets and Cash Flow - The total assets at the end of 2023 were approximately ¥9.03 billion, reflecting a 9.95% increase from ¥8.22 billion at the end of 2022[5]. - The net cash flow from operating activities increased by 43.52% to approximately ¥917 million, up from ¥639 million in 2022, primarily due to increased collections[5]. - Cash and cash equivalents increased by 283.76% compared to the previous period, reaching ¥1,553,708,043.69, which accounts for 17.20% of total assets[99]. - Short-term borrowings decreased by 41.92% to ¥748,276,508.91, representing 8.28% of total assets[99]. - Contract liabilities increased by 59.02% to ¥590,511,694.55, which is 6.54% of total assets, indicating a rise in customer prepayments[99]. - Long-term equity investments rose by 48.24% to ¥11,227,046.24, accounting for 0.12% of total assets, reflecting additional investments in associated companies[99]. Market and Business Development - The company actively participated in key projects such as the Zhangbei-Victory 1000 kV UHV AC project and the Wuhan-Nanchang UHV AC project in 2023[12]. - The company achieved a breakthrough in new business by winning a contract worth ¥44.35 million for the Gansu Electric Power Zhangye Power Plant steel structure cooling tower project[16]. - The company has a strong focus on expanding its market presence and enhancing its core competitiveness in the transmission line tower industry[29]. - The company has established a two-tier marketing system, enhancing its market operation capabilities and competitive advantages[58]. - The company has successfully participated in all national ultra-high voltage projects, demonstrating its leading technology and processing experience[58]. Research and Development - Research and development expenses increased by 40.22% to 94.4 million yuan, accounting for 1.02% of operating revenue[81]. - The company plans to continue increasing its investment in research and development to enhance product innovation and market competitiveness[95]. Shareholder and Profit Distribution Policies - The company plans to distribute a cash dividend of 0.1393 yuan per 10 shares (before tax) for the 2023 fiscal year, pending shareholder approval[54]. - The company aims to establish a more scientific and stable shareholder return mechanism, ensuring transparency in profit distribution decisions[112]. - The profit distribution policy will be adjusted based on production operations and long-term development needs, requiring approval from the board and shareholders[121]. - The company aims for a minimum cash dividend ratio of 80% when there are no major capital expenditures planned for the next year, and at least 40% when there are significant expenditures[139]. - The profit distribution policy emphasizes continuity and stability while considering the actual operating conditions and sustainable development of the company[137]. Regulatory Compliance and Governance - The company emphasizes compliance with national laws and industry standards, enhancing its market reputation and competitive strength[73]. - The company commits to legal responsibilities regarding compensation for losses incurred by investors due to misleading information in disclosures[142]. - The company will ensure compliance with relevant laws and regulations when adjusting profit distribution policies[121]. - The company will accept supervision from regulatory bodies and the public regarding its commitments and responsibilities[124]. Initial Public Offering and Capital Structure - Hsino Tower Group Co., Ltd. successfully listed on the Shanghai Stock Exchange on December 22, 2023, becoming the first central enterprise in China's transmission line tower sector to go public[39]. - The company achieved a significant milestone by obtaining approval from the China Securities Regulatory Commission for its initial public offering on August 30, 2023[39]. - The company raised a total of RMB 113,694.09 million from its initial public offering, with a net amount of RMB 103,660.41 million after deducting issuance costs[186]. - The total number of shares after the issuance increased to 2,675,155,088, with 668,788,772 new shares issued[190]. - The registered capital of ICBC Investment is 2,700 million RMB, primarily engaged in financial investment[197]. - The registered capital of Guoxin Jianyuan is 3,000.2 million RMB, also primarily engaged in financial investment[197].