DSBJ(SZ:002384)2024-04-17 12:28Financial Performance - The company's operating revenue for 2023 was CNY 33,651,205,468.80, representing a 6.56% increase compared to CNY 31,580,146,732.58 in 2022[13]. - The net profit attributable to shareholders for 2023 was CNY 1,964,525,269.65, a decrease of 17.05% from CNY 2,367,519,530.91 in 2022[13]. - The net profit after deducting non-recurring gains and losses was CNY 1,614,534,226.22, down 24.08% from CNY 2,125,754,423.71 in the previous year[13]. - The total assets at the end of 2023 were CNY 44,371,719,028.28, an increase of 8.75% from CNY 40,531,361,181.17 at the end of 2022[13]. - The net assets attributable to shareholders at the end of 2023 were CNY 18,143,026,745.54, reflecting a 10.77% increase from CNY 16,359,429,480.45 at the end of 2022[13]. - The company reported a basic earnings per share of CNY 1.15 for 2023, down 17.27% from CNY 1.39 in 2022[13]. - The weighted average return on equity for 2023 was 11.38%, a decrease of 3.95% from 15.33% in 2022[13]. - The company achieved total revenue of 33.651 billion yuan in 2023, representing a year-on-year growth of 6.56%[32]. - The electronic circuit business generated sales of 23.261 billion yuan, an increase of 6.61% compared to the previous year[32]. - The new energy vehicle business saw a significant revenue increase of 168.39% year-on-year[32]. Dividend Distribution - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares to all shareholders, based on a total of 1,701,276,209 shares (excluding treasury shares) [2]. - The cash dividend represents 100% of the total profit distribution amount, with the distributable profit being 482,854,237.57 CNY[111]. - The company has a three-year shareholder return plan for 2024-2026, emphasizing stable profit distribution policies[108]. Business Segments and Operations - The company operates in three main business segments: electronic circuits, optoelectronic displays, and precision manufacturing [5]. - The company is focused on the development and production of flexible printed circuits (FPC), rigid printed circuits (PCB), and precision metal components [6]. - The company provides a comprehensive range of products including PCB, FPC, automotive screens, and functional structural components for electric vehicle clients, strengthening its competitive position[28]. - The company’s precision components are primarily used in electric vehicles and communication equipment, benefiting from the rapid growth of the green low-carbon transition[22]. - The company’s touch display modules are increasingly in demand due to the rising penetration of touch screen laptops and the development of smart vehicles[23]. - The company’s LED display products, including Mini LED, are expanding into new applications such as XR virtual shooting and outdoor 3D displays[24]. Research and Development - The company is actively involved in the research and development of new technologies, including AI, AR, VR, and IoT applications [5]. - Research and development expenses increased by 23.52% to ¥1,161,190,274.48, representing 3.45% of operating revenue[49]. - The number of R&D personnel increased by 5.17% to 4,148, while the proportion of R&D personnel with master's degrees rose by 52.73%[49]. - The company completed several R&D projects aimed at enhancing product technology and market competitiveness, including new technologies for flexible circuit boards and outdoor charging piles[48]. Market and Competitive Position - The company ranks second globally in flexible printed circuit boards (FPC) and third in printed circuit boards (PCB) based on revenue scale in 2023[28]. - The global electric vehicle market is expected to grow to 24.7 million units by 2025, with a compound annual growth rate (CAGR) of 32.20% from 2022 to 2025[21]. - The global automotive display market is projected to reach $13.84 billion by 2025, with a CAGR of 19.96% from 2022 to 2025[23]. - The company is focusing on dual-wheel drive strategy in consumer electronics and new energy sectors, enhancing collaboration with leading industry clients[33]. Risk Management - The company has highlighted risks related to customer concentration, rapid technological upgrades in the industry, and exchange rate fluctuations in its future outlook [2]. - The company emphasizes the importance of customer concentration risk, as the top five customers account for a significant portion of revenue[73]. - The company faces risks from international trade fluctuations and is enhancing communication with clients to mitigate these risks[75]. - The company is addressing the risks associated with rapid technological upgrades in its industry to avoid obsolescence of its products[74]. Corporate Governance - The company emphasizes its commitment to transparency and accuracy in financial reporting, with all board members present for the report's approval [2]. - The company has established a robust corporate governance structure, ensuring clear responsibilities and effective checks and balances among the board, supervisory board, and management[83]. - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, and financial management[84]. - The company is committed to high-quality information disclosure, focusing on providing timely and relevant information to investors[81]. Environmental Sustainability - The company is committed to environmental sustainability, increasing investments in environmental protection to comply with stricter regulations[76]. - The company has implemented strict measures to control emissions of nitrogen oxides and sulfur dioxide, with concentrations of 4 mg/m³ and 6 mg/m³ respectively, both below regulatory limits[126]. - The company has reported no exceedances in pollution discharge limits, indicating effective environmental management practices[126]. - The company has invested continuously in environmental protection, ensuring stable compliance with pollution discharge standards[131]. Employee Management - The total number of employees at the end of the reporting period was 22,558, with 16,413 in production, 4,148 in technical roles, and 412 in sales[104][105]. - The company emphasizes a competitive salary policy to attract and retain talent, linking compensation to performance[106]. - The company has a comprehensive training program aimed at enhancing employee skills and capabilities[107]. Shareholder Engagement - The company held several shareholder meetings with participation rates of 46.86%, 48.80%, and 49.82% for various meetings in 2023, indicating strong investor engagement[86]. - The company has a dedicated financial department with a complete accounting system, ensuring independent financial management and tax compliance[84]. - The company is focused on creating long-term value for investors by fostering a positive interaction ecosystem with them[81]. Acquisitions and Investments - The company completed the acquisition of Suzhou Jinduan in January 2023, enhancing its capabilities in automotive display modules and touch display modules[28]. - The company expanded its consolidation scope by acquiring Aranda Company and establishing several new subsidiaries in 2023[42]. - The company has established overseas production bases in Mexico and Thailand to support its international operations[31]. Financial Management - The company has not reported any dissenting opinions from board members on company strategies or decisions[99]. - The company has maintained a continuous audit service relationship with Tianjian Accounting Firm for 13 years[142]. - The company has not engaged in any related party financial transactions, including deposits or loans, with affiliated financial companies[145].