Corporate Structure and Governance - Sichuan Y&J Industries Co., Ltd. established holding subsidiaries in Changzhou, Jiangsu, and Thailand to enhance industrial layout and respond to international economic changes[3]. - The company has established a new governance system during the year, ensuring compliance with relevant laws and regulations[184]. - The board of directors has been restructured, with new candidates nominated for non-independent director positions[182]. - The company maintains independence from its controlling shareholders in business, personnel, and financial aspects[196]. - The company has established a mechanism to ensure that minority shareholders can express their opinions and protect their legal rights[70]. - The total number of shareholders holding more than 5% of shares is 10, with a combined holding of 82,174,189 shares, representing 80.94% of the total[179]. - The total number of unrestricted shares increased from 14,985,571 (19.19%) at the beginning of the period to 41,202,108 (40.58%) at the end of the period, reflecting a significant increase of 26,216,537 shares[176]. - The total number of restricted shares decreased from 63,107,797 (80.81%) to 60,319,270 (59.42%), a reduction of 2,788,527 shares[176]. - The total share capital rose from 78,093,368 to 101,521,378, an increase of 23,428,010 shares[176]. - The top two shareholders, 罗辑 and 欧毅, each hold 20.89% of the shares, with 罗辑 having 21,212,100 shares and 欧毅 having 21,210,800 shares[179]. - The company has fulfilled all disclosed commitments as of the reporting period[172]. - The company reported no significant litigation or arbitration matters during the reporting period[161]. - The company has no instances of shareholders or related parties occupying or transferring company funds, assets, or other resources[164]. - The company has no significant related party guarantees or financial transactions with related parties[165]. - The company has no major asset or equity acquisition transactions with related parties during the reporting period[165]. - The independent directors have actively participated in board meetings, attending 14 meetings each during the reporting period[193]. Financial Performance - The company's operating revenue for 2023 was ¥893,061,751.19, representing a 10.14% increase from ¥810,829,240.05 in 2022[32]. - The net profit attributable to shareholders for 2023 was ¥74,625,401.04, up 17.72% from ¥63,393,925.83 in 2022[32]. - The gross profit margin improved to 27.73% in 2023, compared to 23.32% in 2022[32]. - Total assets increased by 11.13% to ¥996,857,262.71 in 2023 from ¥896,980,303.86 in 2022[36]. - The company's net profit growth rate was 17.72% in 2023, compared to 53.95% in 2022[34]. - The weighted average return on equity based on net profit was 14.08% in 2023, slightly down from 14.20% in 2022[32]. - The operating cash flow for 2023 was ¥48,688,896.19, a significant increase of 63.56% from ¥29,768,205.94 in 2022[36]. - The net profit attributable to shareholders for Q4 2023 was ¥18,402,056.29, with total revenue of ¥266,128,622.77 for the same quarter[38]. - The company achieved operating revenue of 893.06 million yuan, a year-on-year increase of 10.14%[51]. - The net profit attributable to shareholders reached 74.63 million yuan, reflecting a year-on-year growth of 17.72%[51]. - Total assets amounted to 996.86 million yuan, up 11.13% compared to the previous year[51]. - The net assets attributable to shareholders increased to 556.23 million yuan, a growth of 10.38% year-on-year[51]. - The company reported a positive undistributed profit during the reporting period, but did not propose a cash dividend distribution plan[72]. - The company reported a decrease in the current ratio to 1.71 in 2023 from 1.82 in 2022, indicating a slight decline in liquidity[36]. - The company experienced a minor discrepancy in financial data between the preliminary report and the audited report, with a revenue difference of -0.15%[37]. Research and Development - The company obtained a new invention patent for "a lubricated column plug valve" and multiple utility model patents during the reporting period[3]. - The company has developed over 10,000 mechanical component product models, forming a comprehensive product technology library[50]. - The company has made significant investments in research and development, leading to breakthroughs in new products and technologies[55]. - R&D expenditure amounted to ¥35,821,056.07, representing 4.01% of operating revenue, an increase from 3.89% in the previous period[118]. - The number of R&D personnel decreased to 93, accounting for 14.51% of total employees, down from 21.78%[118]. - The company is developing a reliable and cost-effective safety pressure relief valve, optimizing its structure to enhance performance stability and reduce costs[128]. - The company is enhancing the mechanical properties of special cast iron parts, broadening their application fields and improving product quality through advanced casting techniques[128]. - The company is researching the feasibility of using aluminum alloy instead of carbon steel for engine intake and exhaust pipes, which will reduce weight and costs while improving reliability[128]. - The company is developing a new type of hydraulic cylinder with a simple and reliable structure to improve synchronization and reduce overall hydraulic system costs[130]. - The company has completed the development and industrialization of a 900LB ultra-low temperature ball valve prototype, aiming to replace imported valves and expand into new market areas[131]. - The company has initiated the development of various aerospace components, including precision machining processes for complex shapes, to gradually form a scalable production[132]. Market Expansion and Client Acquisition - The company successfully entered new markets in South Korea, Brazil, and Indonesia, adding 49 international clients from 16 countries and 30 domestic clients in 2023[50]. - The company has expanded its international trade markets, successfully entering regions such as Africa, the Middle East, and Southeast Asia[56]. - The company is actively expanding its market presence through new product development and strategic investments in technology[125]. - The company is positioned to benefit from the global shift towards high-end manufacturing and the increasing demand for customized mechanical components[150]. Risk Management and Challenges - The company faces performance decline risks due to potential economic downturns or industry-wide recession, and plans to enhance market and product development while optimizing business processes to improve efficiency and reduce costs[153]. - The company is exposed to downstream industry fluctuations, particularly in machinery manufacturing, and aims to diversify its custom business services across multiple sectors to mitigate risks associated with economic downturns[154]. - The company is at risk of exchange rate fluctuations affecting its export sales, primarily settled in USD and EUR, and plans to monitor economic trends and implement measures to reduce foreign exchange losses[155]. - The company has implemented measures to manage supplier risks, including regular evaluations and integration of supply chain processes to ensure product quality and timely delivery[154]. - The company has not experienced significant changes in major risks during the reporting period, indicating stability in its risk management[156]. Social Responsibility and Environmental Commitment - The company has been recognized as a green factory by the Sichuan Provincial Economic and Information Technology Department, with no environmental pollution incidents reported during the reporting period[143]. - The company participated in community projects, donating 10,000 yuan to support underprivileged groups, reflecting its commitment to social responsibility[142]. Investment and Capital Management - The company raised a total of RMB 90,673,576 through the issuance of 12,953,368 shares at a price of RMB 7.00 per share, with a net amount of RMB 74,687,257 after deducting issuance costs[83]. - As of December 31, 2023, the company has utilized RMB 65,901,723.33 of the raised funds, all allocated to disclosed projects without any changes in usage[83]. - The total investment amount for the reporting period was ¥81,665,016.66, representing a 1.36% increase compared to ¥80,572,735.77 in the same period last year[105]. - A significant equity investment of ¥33,017,129.10 was made in Chengdu Biyang Precision, acquiring a 30% stake in the company, which specializes in high-precision aerospace components[105]. - The company has pledged assets totaling ¥51,751,691.34, representing 5.19% of total assets, primarily for bank loans and guarantees[167]. Dividend Policy - The company has a profit distribution policy that emphasizes continuity and stability, prioritizing cash dividends when cash flow allows[67]. - The cash dividend distribution was approved at the annual general meeting held on May 23, 2023, and was executed on June 16, 2023[69]. - The company maintains a commitment to continuous and stable growth in dividend distribution[67]. - The annual profit distribution plan includes a cash dividend of 2 yuan per 10 shares, with no stock bonuses or capital increases proposed[71]. - The company has a policy to ensure that cash dividends do not exceed the cumulative distributable profits and do not harm the company's sustainable operation[67]. - The company will consider stock dividends if it anticipates strong future growth and significant cash needs[67].
优机股份(833943) - 2023 Q4 - 年度财报