双林股份(300100) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was ¥4,138,824,168.65, a decrease of 1.11% compared to ¥4,185,278,439.50 in 2022[21]. - Net profit attributable to shareholders for 2023 was ¥80,881,910.00, representing a 7.56% increase from ¥75,197,436.31 in 2022[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥78,141,600.54, up 12.48% from ¥69,474,212.32 in 2022[21]. - The net cash flow from operating activities for 2023 was ¥377,622,006.13, a decline of 14.74% compared to ¥442,906,191.55 in 2022[21]. - Basic earnings per share for 2023 was ¥0.20, an increase of 5.26% from ¥0.19 in 2022[21]. - Total assets at the end of 2023 amounted to ¥5,954,695,625.11, reflecting a growth of 4.55% from ¥5,695,329,604.18 at the end of 2022[21]. - Net assets attributable to shareholders at the end of 2023 were ¥2,195,883,973.45, an increase of 4.17% from ¥2,107,974,912.84 at the end of 2022[21]. - The company reported a weighted average return on equity of 3.76% for 2023, up from 3.41% in 2022[21]. - The total revenue for 2023 was approximately ¥4.14 billion, a decrease of 1.11% compared to ¥4.19 billion in 2022[103]. - The sales volume of automotive parts was 297,133,933 units, down 4.14% from 309,967,775 units in the previous year[96]. - The production volume of automotive parts reached 317,470,420 units, an increase of 1.79% from 311,898,793 units year-over-year[96]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1 RMB per 10 shares (including tax) based on a total of 397,188,243 shares[6]. - The company has not issued any bonus shares for the reporting period[5]. Audit and Compliance - The financial report has been confirmed as true, accurate, and complete by the company's management team[3]. - The company has undergone an audit by Beijing Dahua International Accounting Firm[13]. - All board members attended the meeting to review the annual report[3]. - The company emphasizes its commitment to transparency and compliance with regulatory requirements[19]. - The audit report confirms that sufficient and appropriate audit evidence was obtained to support the audit opinion on the financial statements[175]. - The company has maintained independence in its audit processes, adhering to professional ethical standards throughout the audit[175]. - The management and governance of the company are responsible for the accuracy and fairness of the financial statements, ensuring compliance with relevant laws and regulations[179]. Market and Industry Insights - In 2023, China's automobile production and sales reached 30.16 million and 30.09 million units, respectively, with year-on-year growth of 11.6% and 12%[51]. - New energy vehicle production and sales in China were 9.587 million and 9.495 million units, with year-on-year growth of 35.8% and 37.9%, achieving a market share of 31.6%[51]. - The company has become the largest domestic producer of automotive seat horizontal actuators, with a shipment volume exceeding 30 million units in 2023[52]. - The company is actively expanding its market presence in the new energy vehicle sector, with a focus on electric drive systems and components[89]. Research and Development - The company has established five major R&D centers and has been recognized as a national high-tech enterprise, enhancing its innovation capabilities[82]. - The company is focusing on R&D for new products, including headrest lifters and high-torque planetary lift motors, with plans to increase investment in 2024[53]. - The company has five R&D centers focusing on automotive wheel hub bearings, transmissions, and components, with increased investment in electric motors and control systems[95]. Production and Supply Chain - The company has established production bases in multiple cities, including Liuzhou, Chongqing, Qingdao, Ningbo, and Shanghai, to support major automotive manufacturers[50]. - The company has a production capacity of 18 million wheel hub bearings and units annually, positioning it as a leader in the wheel hub bearing industry in China[76]. - The company has established a strong supply chain advantage with high cost-performance, good service, and fast response capabilities, benefiting from the transformation brought by the new energy vehicle industry[70]. - The company has established a stable global supply chain, controlling raw material costs effectively, which contributed to a decrease in production costs[100]. Strategic Initiatives - The company plans to enter the automotive ball screw market, with the first samples expected to be produced by April 2024 and mass production capabilities by December 2024[57]. - The company is adjusting its transmission business strategy, planning to reduce investment in this area due to misalignment with new energy vehicle development[54]. - The company has secured new projects with major clients such as BYD and Aito, laying a solid foundation for future sales growth[77]. Awards and Recognition - The company received multiple awards for quality and partnership, including the 2023 Best Partner Award from AAP customers[56]. - The company has received multiple awards, including being ranked 35th among the top 100 competitive enterprises in Ningbo in 2023[113].