KEBODA(SH:603786)2024-04-19 08:41Financial Performance - The company achieved operating revenue of RMB 4.625 billion in 2023, representing a year-on-year growth of 36.68%[16]. - Net profit attributable to shareholders reached RMB 609 million, an increase of 35.26% compared to the previous year[18]. - The net cash flow from operating activities was RMB 432 million, a significant recovery from a negative cash flow of RMB 10.8 million in 2022[16]. - Basic earnings per share increased to RMB 1.518, reflecting a growth of 35.50% year-on-year[17]. - The weighted average return on equity rose to 13.82%, an increase of 2.89 percentage points from the previous year[17]. - The company's total assets grew by 20.03% to RMB 6.356 billion compared to the end of 2022[16]. - The net assets attributable to shareholders increased by 12.06% to RMB 4.659 billion at the end of 2023[16]. - The company reported a strong performance in its lighting control and energy management systems, contributing significantly to revenue growth[18]. Dividend and Share Capital - The company plans to distribute a cash dividend of 6 CNY per 10 shares, totaling approximately 242.38 million CNY for the year 2023[3]. - The total share capital of the company as of December 31, 2023, is 403,974,300 shares[3]. - The company does not plan to issue bonus shares or convert capital reserves into share capital for the current year[3]. Governance and Compliance - The company has received a standard unqualified audit report from Zhonghua Certified Public Accountants[3]. - The board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy[3]. - There are no violations of decision-making procedures regarding external guarantees[5]. - The company has not reported any instances of more than half of the directors being unable to guarantee the authenticity of the annual report[5]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting investment risks[4]. - The company has established a fair and transparent performance evaluation system for senior management, continuously improving incentive mechanisms[88]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors[88]. Risk Management - The company has outlined potential risks in its operations, which are detailed in the management discussion and analysis section[6]. - The company recognizes the risk of market fluctuations due to the cyclical nature of the automotive industry, which is closely tied to macroeconomic conditions[84]. - The company faces potential pressure on profit margins due to fluctuations in raw material prices, which significantly impact production costs[84]. - The company is exposed to exchange rate fluctuations, particularly as a significant portion of its revenue is generated from exports settled in USD and EUR[86]. Research and Development - R&D investment totaled 444 million yuan, accounting for 9.59% of revenue, with a year-on-year increase of 18.50%[29]. - The company is focusing on new technologies in electrification and intelligence, particularly in smart control and integration related to lighting, batteries, and chassis[28]. - The company has 947 R&D personnel, making up 34% of the total workforce, indicating a strong focus on innovation[57]. Market Expansion and Strategy - The company is actively seizing opportunities in both domestic and international markets, indicating a robust growth strategy[25]. - The company secured 73 new projects from domestic and international clients, with an expected total lifetime sales of over 10 million units[26]. - The company achieved a quarterly revenue of over 1.4 billion yuan for the first time in Q4, marking a year-on-year growth of 338.07% from new clients like Ideal and BMW[27]. - The company is expanding its global strategy by targeting major international clients like Toyota and Stellantis, while enhancing relationships with existing clients like Daimler and Ford[30]. - The company plans to enhance its product structure by focusing on high-value products such as domain controllers, efuses, and central gateways in 2024[78]. Corporate Social Responsibility - The company made a total donation of 315,000 yuan for public welfare projects, including support for impoverished students in Yunnan Province[148]. - The company has donated a total of 20.365 million yuan since the establishment of the Shanghai Kebo Da Charity Foundation in 2014, with 3.265 million yuan donated in the last four years[150]. - The charity projects include support for impoverished students in Yunnan and various educational institutions in Jiaxing, benefiting 80 individuals[150]. Financial Management - The company has a clear cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring transparency and protection of minority shareholders' rights[131]. - The total amount of guarantees provided by the company is RMB 117,128,300, which accounts for 2.51% of the company's net assets[171]. - The company has provided guarantees totaling RMB 100,000,000 to its subsidiaries during the reporting period[171]. - The company has invested 940 million RMB in bank wealth management products using its own funds, with an additional 190 million RMB from raised funds[174]. Employee Management - The company reported a total of 2,796 employees, with 978 in the parent company and 1,818 in major subsidiaries[125]. - The employee composition includes 1,345 production personnel, 110 sales personnel, 963 technical personnel, 53 financial personnel, and 325 administrative personnel[125]. - The company has a competitive salary structure that reflects compliance, fairness, and incentivization, with annual compensation including base salary, performance pay, allowances, and bonuses[127]. Environmental Initiatives - The company invested 6.9 million yuan in environmental protection during the reporting period[142]. - The company reduced carbon emissions by approximately 4,200 tons CO2e in 2023 through various energy-saving projects and the use of clean energy[146]. - The company plans to complete the construction of an energy management system and obtain certification in 2024 to enhance energy management levels[146].