WG Tech(SH:603773)2024-04-19 08:41Dividend and Share Capital - The company plans to distribute a cash dividend of 0.6 RMB per 10 shares (including tax), totaling approximately 10,282,953.84 RMB based on a total share capital of 171,382,564 shares as of April 19, 2024[1]. - The company intends to increase its share capital by 3 shares for every 10 shares held, resulting in a new total share capital of 222,797,333 shares after the capital reserve transfer[1]. - The profit distribution plan is subject to approval at the shareholders' meeting, and the board of directors will be authorized to execute the plan and make necessary adjustments[1]. - The company plans to distribute profits based on the total share capital as of the equity distribution registration date[102]. - The company will submit the profit distribution plan to the shareholders' meeting for approval[127]. Financial Performance - The company reported a net profit attributable to ordinary shareholders of -4,540,602.24 RMB for the consolidated financial statements[6]. - The total cash dividend amount represents a significant portion of the company's net profit, although the exact percentage is not disclosed[6]. - The net profit attributable to shareholders for 2023 is -4,540,602.24 CNY, with distributable profits amounting to 123,023,448.86 CNY as of December 31, 2023[102]. - The company achieved a net profit of 25.63 million CNY, 41.67 million CNY, and 58.74 million CNY for the years 2021, 2022, and 2023 respectively, with completion rates of 104.14%, 104.18%, and 106.80% against performance commitments[116]. - The company's operating revenue for 2023 reached ¥1,813,614,887.75, representing a 29.75% increase compared to ¥1,397,765,310.28 in 2022[149]. - The net profit attributable to shareholders of the listed company was -¥4,540,602.24, showing a significant improvement of 98.62% from -¥328,248,124.30 in the previous year[149]. - The net cash flow from operating activities was ¥170,090,666.98, a turnaround of 244.74% from -¥117,517,688.22 in 2022[149]. - The company's net assets attributable to shareholders at the end of 2023 were ¥1,375,883,271.30, showing a slight increase of 0.02% from ¥1,375,668,700.08 in 2022[149]. - Basic earnings per share for 2023 was -0.0265 CNY, a 98.69% improvement from -2.0195 CNY in 2022[150]. - Weighted average return on equity increased by 23.14 percentage points to -0.33% in 2023 from -23.47% in 2022[150]. - The company reported a significant reduction in diluted earnings per share, improving from -2.0195 CNY in 2022 to -0.0265 CNY in 2023, indicating a recovery trend[150]. Internal Control and Compliance - The company has established a comprehensive internal control system to ensure compliance with regulations and safeguard shareholder interests[12]. - The internal control audit report issued by Zhongqin Wanxin Certified Public Accountants provided a standard unqualified opinion[16]. - The company has not disclosed any significant defects in its internal control during the reporting period[15]. - The company has established a complete internal control system for all subsidiaries, ensuring oversight of assets, business, and strategic planning[15]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[33]. - The company guarantees that the prospectus does not contain false records, misleading statements, or major omissions, and assumes legal responsibility for its accuracy and completeness[70]. - The company will strictly adhere to all public commitments made regarding the initial public offering and accept social supervision[76]. - Any violations of commitments by directors or senior management will result in a reduction or suspension of their compensation[78]. - The company will ensure that any share transfers by major shareholders comply with relevant regulations and will be conducted in a manner that does not disrupt the stock price significantly[65]. - The company will publicly explain and apologize for any failure to implement commitments, and responsible parties will bear legal consequences[59]. Environmental Responsibility - The company invested 31.68 million yuan in environmental protection during the reporting period[24]. - The company installed 9,434 square meters of solar photovoltaic panels, which began operation in November 2023, generating a total of 189.92 MWH of electricity[35]. - The implementation of carbon reduction measures resulted in a decrease of 99.84 tons of CO2 equivalent emissions[35]. - The company achieved compliance with all pollutant discharge standards, with no environmental pollution incidents reported during the period[29]. - The company received environmental impact assessment approval for its project to produce 1.2 million pieces of TFT-LCD G5.5 glass, completed on July 28, 2023[30]. - The company successfully renewed its pollutant discharge permit on January 17, 2023, and obtained a new permit on November 3, 2023[30]. - The company has established a comprehensive emergency response plan for environmental incidents, with three drills conducted in 2023[31]. - The company’s wastewater online monitoring system operated normally throughout the reporting period[29]. - The company’s emissions of key pollutants, including nitrogen oxides and sulfur dioxide, were within the regulatory limits[27]. Risk Management and Strategic Development - The company has outlined specific measures to address major risks, including enhancing technology R&D, improving service quality, and managing customer credit effectively to mitigate risks associated with customer concentration and accounts receivable[53]. - The company is committed to filling the dilution of immediate returns from its IPO by implementing measures to maintain the operational status and development trends of its existing business segments[45]. - The company will focus on expanding its domestic and international market presence while maintaining its leading position in the FPD optical glass processing industry[48]. - The company plans to establish a new R&D center to enhance its technology development and innovation system, focusing on new technologies and processes for optical glass coating, including 3D glass cover and ultra-hard anti-fingerprint films[48]. - The company is actively working on developing new products and technologies, including In-Cell interference-resistant high-resistance coating technology and ultra-thin glass technology, to strengthen its competitive edge[48]. - The company aims to improve operational efficiency and reduce costs by enhancing internal control systems and production quality management, which will contribute to increased profitability[49]. - The company plans to optimize its product structure and address capacity shortages through the implementation of its TFT-LCD glass processing project, which will significantly enhance service capabilities[49]. - The company is focusing on the development of new technologies such as Micro LED and advanced 3D integration circuits to enhance product offerings[143]. - The company plans to expand its market presence through strategic partnerships and potential acquisitions in the technology sector[143]. - The introduction of new products, including Mini LED displays, is expected to drive future revenue growth and improve market competitiveness[143]. Legal Matters - The company faced litigation involving a total amount of 3,191,275.46 CNY related to a contract dispute, with a settlement agreement reached on June 25, 2023[158]. - As of December 18, 2023, the company has recovered 2,460,850.32 CNY from the aforementioned litigation, with 730,425.14 CNY still outstanding and subject to enforcement proceedings[158]. - The company has ongoing litigation with Jiangxi Hualifeng Optoelectronics Co., Ltd. involving a claim of 4,116,765.70 CNY, which was settled in August 2022, but the terms have not been fully met[161]. - The company initiated legal action against Sichuan Shuangyu Technology Co., Ltd. for 1,544,441.60 CNY, with a settlement reached in March 2023, but the remaining balance has not been paid as per the agreement[161]. - The company initiated a lawsuit against Jiangxi Anzhi Optoelectronics for a total claim of 74,456.99 CNY, which includes principal and interest, with a settlement reached on November 9, 2023[164]. - Jiangxi Anzhi Optoelectronics agreed to pay 35,800 CNY by November 25, 2023, and the remaining 35,775.5 CNY by December 20, 2023[164]. - The company successfully resolved a contract dispute with Zhixing Optoelectronics, which withdrew its lawsuit, resulting in the company having paid the owed amount[164]. - A first-instance judgment ordered Dongguan Shangying Industrial Investment to compensate 82,549 CNY for equipment loss, while other claims were dismissed[164]. - The company maintained a good integrity status during the reporting period, with no significant court judgments or large debts unpaid[168]. Audit and Financial Reporting - The company has engaged Zhongqin Wanxin Accounting Firm for auditing services, with a fee of 480,000 CNY and an audit tenure of 11 years[120]. - The company has not issued any non-standard audit opinions for the reporting period[120]. - The company’s financial report includes details on related party transactions, with specific amounts disclosed in the financial section[169]. - The annual report received a standard unqualified audit opinion from Zhongqin Wanxin Accounting Firm[101]. - The company assures that the financial report in the annual report is true, accurate, and complete, as confirmed by the responsible executives[126]. - The audit fees have decreased by over 20% compared to the previous year[122]. - The company has not reported any instances where more than half of the board members could not guarantee the authenticity of the annual report[131]. - The company guarantees the authenticity, accuracy, and completeness of the annual report, assuming legal responsibility for any false statements or omissions[100].