Etrol(SZ:300370)2024-04-18 12:52Financial Performance - The company achieved total operating revenue of 472.56 million yuan, an increase of 2.32% compared to the previous year[28]. - The company reported an operating loss of 192.55 million yuan, a reduction in loss by 48.27% year-on-year[28]. - The total profit amounted to -197.93 million yuan, with a year-on-year reduction in loss of 50.18%[28]. - The net profit attributable to shareholders was -199.77 million yuan, reflecting a 51.52% reduction in loss compared to the previous year[28]. - Total revenue for 2023 reached ¥472,559,967.86, representing a year-on-year increase of 2.32% compared to ¥461,839,237.72 in 2022[36]. - The automation sector generated ¥122,902,577.38, accounting for 26.01% of total revenue, with a significant year-on-year growth of 39.89%[36]. - Oil and gas services contributed ¥303,183,222.59, making up 64.16% of total revenue, with a year-on-year increase of 40.35%[36]. - The smart industry segment saw a decline, with revenue of ¥17,499,201.81, down 86.72% from ¥131,743,771.61 in 2022[36]. - The net profit attributable to shareholders of the listed company was -199,765,048.60 yuan, a 51.52% improvement from the previous year[108]. - The company reported a basic earnings per share of -0.1272 yuan, reflecting a 51.30% improvement from -0.2613 yuan in 2022[108]. - The company reported a net loss of ¥52,088,860.07 in 2023, compared to a loss of ¥23,527,978.04 in 2022, indicating a significant increase in losses year-over-year[169]. Operational Strategy - The company plans to focus on "restoration, stabilization, and rapid development" as part of its three-step operational strategy[30]. - The company aims to enhance its market position by focusing on the recovery of its main business and expanding incremental business opportunities, which has shown initial positive results[191]. - The company will prioritize efficiency while balancing growth in both efficiency and scale in 2024[165]. - The company is committed to improving operational measures and strategies to address the challenges faced in the current fiscal year[165]. Research and Development - The company is committed to technological research and breakthroughs in areas such as intelligence, safety, and autonomy, resulting in innovative products and solutions[31]. - The company completed the development and testing of wireless instrument and gateway products based on Lora protocol, which have been applied in projects[33]. - The company completed the development of a series of products based on the LoRa communication protocol, enhancing competitiveness in low-cost IoT applications[92]. - The company is in the testing phase of a cloud-edge collaborative platform based on RTU technology, aimed at improving product integration and service capabilities[92]. - The company is actively promoting artificial intelligence and smart manufacturing applications as part of its strategic initiatives[121]. - The company reported a significant focus on research and development in oilfield chemicals and modular equipment[120]. Market Position and Industry Trends - The market size of the industry is expected to grow to 353.1 billion yuan by 2024[13]. - The company has established a strong market entry advantage with major oilfield clients, supported by comprehensive industry qualifications and successful project experience[189]. - The company emphasizes the integration of automation, information technology, and digital transformation to provide competitive products and solutions in the industrial automation sector[173]. - The company recognizes the importance of industrial automation as a key link in the intelligent transformation of the manufacturing industry[159]. - The company is aligned with national policies aimed at promoting the transformation and upgrading of the manufacturing sector[159]. Financial Management - Sales expenses for 2023 were CNY 30,973,846.94, a decrease of 18.10% compared to CNY 37,818,702.30 in 2022[69]. - Management expenses decreased by 14.13% to CNY 109,186,411.17 in 2023 from CNY 127,150,863.11 in 2022[69]. - Financial expenses significantly dropped by 74.27% to CNY 37,422,931.65 in 2023, down from CNY 145,445,971.13 in 2022, due to debt repayment and reduced financing costs[69]. - R&D expenses were CNY 36,731,549.46 in 2023, a decrease of 31.21% from CNY 53,400,190.28 in 2022, attributed to a reduced consolidation scope and optimized R&D processes[69]. - The number of R&D personnel decreased by 15.38% to 132 in 2023 from 156 in 2022, with a corresponding drop in the proportion of R&D personnel from 22.44% to 19.56%[71]. - Total R&D investment for 2023 was CNY 44,338,709.96, representing 9.38% of total revenue, down from 13.11% in 2022[93]. Asset Management - Total assets decreased by 21.66% year-on-year, amounting to 1,508,188,652.40 yuan[108]. - The company's cash and cash equivalents net decrease was -137,319,420.87 yuan, a decline of 211.37% compared to the previous year[95]. - The proportion of investment properties to total assets increased by 7.46%, reaching 33.04%[98]. - The company’s long-term borrowings increased significantly by 22.02%, totaling 393,198,336.11 yuan[98]. - The company has optimized its resource allocation by divesting low-efficiency assets, which is expected to improve overall performance[118]. Subsidiary Management - The company has successfully disposed of several subsidiaries, including Zhejiang Ankang Technology Co., Ltd. and Shaanxi Tianan Technology Co., Ltd., in March 2023[124]. - The company has reduced its subsidiary count by 10, including the disposal of two subsidiaries, indicating a strategic consolidation effort[199]. Customer Relations - The top five customers accounted for 63.77% of total annual sales, with no sales to related parties[87]. - The company participated in the 2023 China Automation Conference, highlighting its commitment to investor relations and transparency[196].