WINNERWAY(SZ:000573)2024-04-12 16:00Financial Performance - The company's operating revenue for 2023 was ¥352,249,483.63, a decrease of 62.82% compared to ¥947,381,778.01 in 2022[21]. - The net profit attributable to shareholders for 2023 was ¥66,085,698.17, an increase of 59.04% from ¥41,552,025.96 in 2022[21]. - The net cash flow from operating activities was -¥298,416,500.50, a decline of 397.32% compared to -¥60,005,126.91 in 2022[21]. - The basic earnings per share for 2023 was ¥0.1035, up 58.99% from ¥0.0651 in 2022[21]. - Total assets at the end of 2023 were ¥2,358,735,780.35, a decrease of 7.88% from ¥2,560,626,374.83 at the end of 2022[21]. - The company achieved a total pre-sale area of 204,685.3 m² for the "帝庭山" project in Dongguan, generating a settlement revenue of 37,626,100 CNY[44]. - The company’s revenue from the recycling of waste lead-acid batteries was ¥233,303,632.19, accounting for 66.23% of total revenue, which represents a 68.89% decrease compared to the previous year[55]. - The company’s rental real estate revenue was ¥37,286,134.01, which is a 3.67% increase year-on-year, while sales revenue from real estate dropped by 57.16% to ¥63,369,600.99[55]. - The company reported a total revenue of CNY 12.00 million from new energy batteries, marking a 100% increase compared to the previous period[65]. - The company’s coal mining operations reported a revenue of CNY 65,206,209.82, with a net loss of CNY 1,716,746.96 during the reporting period[112]. Business Operations - The company has undergone several changes in its main business operations since its listing in 1994, currently focusing on industrial zone development, real estate development, and sales, as well as coal mining and recycling lead production[19][20]. - The main business areas include real estate development, industrial park leasing, and recycling of used resources, with no major changes in operations during the reporting period[34]. - The company continues to focus on new industries and market research to adapt to competitive pressures and market changes[33]. - The company has completed the establishment of a new mining company, "贵州宏途鑫业矿业有限公司," with a planned annual production capacity of 450,000 tons for the "核桃坪煤矿" project[48]. - The company has established Guangdong Hongyuan Environmental Recycling Technology Co., Ltd. in July 2023, focusing on hazardous waste management and recycling, with a planned project for processing 100,000 tons of waste lead-acid batteries[52]. - The company has multiple ongoing projects with varying completion rates, indicating a robust development pipeline[43]. - The company has established a new independent legal entity, Guizhou Hongtu Xinye Mining Co., for the Walnut Ping coal mine, which has a designed production capacity of 450,000 tons per year[144]. Market Conditions - The company emphasizes the importance of risk awareness among investors, highlighting macroeconomic risks, policy risks, and market risks as key concerns for 2024[3]. - The overall economic environment in Dongguan showed a GDP growth of only 2.6%, impacting the real estate market and leading to cautious land acquisition by developers[49]. - The company faced significant challenges in the recycling of used batteries due to a sharp decline in lithium carbonate prices, leading to a halt in the construction of its new materials recycling project[53]. - The company is exploring new partnerships and policy support for its environmental projects, particularly in hazardous waste management[151]. - The company is adapting to market risks by improving cost control and enhancing procurement management to address commodity price fluctuations[154]. Investment and Financing - The company has a financing balance of 36,910,000 CNY with an average financing cost of 4.5%-4.6%[46]. - The company has completed the transfer of 70% equity in Guizhou Hongtai Company for 26,144.66 million yuan, with all transaction payments recovered[40]. - The company reported a significant increase in other business costs, which rose by 572.32% to CNY 2.52 million[65]. - The company has a plan to provide financial support for real estate development projects in the upcoming twelve months[163]. - The company’s long-term loans increased by 134 million yuan, accounting for 5.69% of total liabilities, primarily due to the financing of real estate project development[87]. Governance and Management - The company has a clear governance structure that complies with the Company Law, Securities Law, and other regulatory requirements[160]. - The company has maintained a sound internal control system, with self-evaluation reports aligning with audit opinions[160]. - The company has experienced a change in its board and supervisory personnel, with new appointments made on April 25, 2023[168]. - The company emphasizes the importance of governance and oversight with the recent changes in its board and supervisory structure[168]. - The company has a diverse management team with members holding various positions in other companies, indicating a broad network[173]. Projects and Developments - The company’s real estate projects are primarily located in Dongguan, with notable developments including the Times International project and the Hongyuan Business Center in Kunshan[34]. - The company has completed 98.00% of the "Times International" project in Dongguan, with a total investment of CNY 494 million and a completed area of 36,692.49 m²[43]. - The "Emperor Mountain" project in Dongguan has reached 100% completion, with a total investment of CNY 272.57 million and a completed area of 165,788.87 m²[43]. - The company has ongoing real estate projects with a total investment of approximately 1.66 billion yuan, with a completion rate of 100% for some projects[96]. - The company is actively pursuing the construction of the Nuotao Ping coal mine, aiming for an annual production capacity of 450,000 tons[151]. Shareholder Engagement - The company reported a participation rate of 23.98% in the annual shareholders' meeting held in April 2023[162]. - The company engaged in multiple investor communications throughout 2023, focusing on business transformation and lithium battery recycling operations[156]. - Investors expressed interest in the company's future business structure and expansion into new energy sectors, with no specific data provided[158]. - The company held an annual performance briefing on June 28, 2023, addressing key business areas including real estate and coal mining transactions[157]. Environmental and Safety Standards - The company is committed to enhancing safety and environmental standards in its coal mining operations, with a focus on risk prevention and compliance[153]. - The company is exploring new metal smelting businesses in response to market conditions and aims to hedge against falling lead prices[184].