Financial Position - The total equity of the company at the end of the previous year was CNY 261.51 billion, with a capital reserve of CNY 106.67 billion and retained earnings of CNY 88.82 billion[8]. - The company reported a comprehensive income total of CNY 133.62 billion for the current period, reflecting significant growth in profitability[9]. - The company allocated CNY 13.36 billion to surplus reserves during the reporting period, indicating a strong focus on financial stability[10]. - The company’s retained earnings at the end of the current period amounted to CNY 209.08 billion, showcasing a solid financial foundation[11]. - The company’s total capital input from owners was CNY 7.11 billion, reflecting strong investor confidence[9]. Risk Management - The company recognized important receivables exceeding 0.30% of total assets as significant, ensuring robust risk management practices[16]. - The company maintains a detailed aging analysis for accounts receivable to calculate expected credit losses accurately[28]. - The expected credit loss provision for accounts receivable was calculated at 41.37% for the third stage, indicating a significant risk of credit impairment[100]. - The total amount of accounts receivable written off was ¥30,410.24[96]. - The total amount of other receivables written off was ¥3,417,877.18, reflecting the company's efforts to manage credit risk[100]. Investment and Growth - The company plans to continue expanding its market presence and enhancing product development to drive future growth[14]. - The company has identified subsidiaries contributing over 15% of total group profits as important subsidiaries, highlighting strategic focus areas for growth[16]. - The company’s cash flow from investment activities exceeding 5% of total assets is classified as significant, emphasizing the importance of investment decisions[16]. Accounting Practices - The company adheres to accounting standards that ensure the financial statements accurately reflect its financial position and operational results[14]. - The company recognizes financial assets or liabilities at fair value upon initial recognition, with transaction costs directly expensed for certain financial assets and liabilities[22]. - The company measures expected credit losses for receivables using a simplified approach, reflecting the expected credit loss over the entire duration[25]. - The company employs a perpetual inventory system for stock management, ensuring accurate tracking of inventory levels[32]. - The company applies a fair value measurement approach for financial assets and liabilities, ensuring accurate reporting of financial positions[24]. Employee Compensation and Costs - Personnel costs for R&D include salaries, social insurance, and external labor costs, allocated based on time records across multiple projects[40]. - The company’s employee compensation expenses increased to ¥33,530,415.17, up 32.1% from ¥25,406,999.57 year-on-year[197]. - Employee compensation expenses rose to RMB 26,618,744.52 from RMB 22,462,919.26 in the previous period, reflecting a growth of approximately 18.5%[168]. Assets and Liabilities - The total fixed assets increased significantly from ¥26,504,368.96 to ¥203,355,842.51, indicating a growth of over 666%[110]. - The total amount of accounts payable at the end of the period is CNY 12,150,114.36, which is a substantial increase from CNY 4,520,052.59 at the beginning, reflecting an increase of about 168.5%[145]. - The total value of lease liabilities at the end of the period is CNY 105,387,983.99, which is an increase from CNY 91,877,431.13 at the beginning, indicating a growth of approximately 14.6%[128]. - The total amount of deferred tax liabilities at the end of the period is CNY 13,537,547.91, an increase from CNY 12,834,202.89 at the beginning, showing a rise of about 5.5%[128]. Revenue Recognition - The company confirms revenue based on the transfer of control of goods or services to customers, considering various indicators of control[60]. - The company will recognize government grants related to long-term assets as deferred income, amortizing them over the useful life of the related assets[62]. Research and Development - The company’s research and development expenses totaled ¥74,596,711.63, a rise of 34.9% from ¥55,278,059.99 in the previous year[197]. - The company recognizes internal research and development expenditures as expenses when incurred, while development phase expenditures can be recognized as intangible assets if certain conditions are met[51]. New Developments - The company established several new subsidiaries, including Shenzhen Haibo Electronics Co., Ltd. with a registered capital of ¥2,000,000.00, focusing on LED driver power development and sales[200]. - The company has set up new entities in various countries, including the establishment of SNC Industrial Vietnam Company Limited in Vietnam, aimed at manufacturing and selling various mold products[200]. Taxation - The company has been recognized as a high-tech enterprise, allowing a reduced corporate income tax rate of 15% from 2022 to 2024[75]. - The company anticipates continued benefits from VAT tax incentives for advanced manufacturing enterprises until December 31, 2027[82].
联域股份(001326) - 2023 Q4 - 年度财报