Investment and Expansion - In 2023, the company invested in a production line for 6,000 tons of silicon carbide composite materials for new energy battery materials, obtaining project approval on February 7, 2023[4]. - The company plans to expand its product line with the introduction of silicon carbide composite materials, which began production in September 2023[62]. - The company has changed the use of raised funds, reallocating RMB 73,673,735.21 to a new project for producing 6,000 tons of silicon carbide composite materials for new energy batteries[134]. - The project completion rate for the new production line is currently at 4.33% with a planned completion date of December 31, 2024[139]. - The company is developing a new air-permeable slide plate for intermediate ladles, which is currently in the assembly stage and aims to enhance the quality of premium steel products[80]. Financial Performance - The company's operating revenue for 2023 was CNY 106,093,997.86, a decrease of 2.10% compared to CNY 108,364,503.51 in 2022[30]. - The net profit attributable to shareholders for 2023 was CNY 15,276,260.39, representing a 9.62% increase from CNY 13,935,810.42 in 2022[30]. - The gross profit margin improved to 37.17% in 2023 from 36.13% in 2022[30]. - The cash flow from operating activities for 2023 was CNY 11,192,966.21, a significant decrease of 62.90% from CNY 30,166,715.08 in 2022[31]. - The company's main business revenue from functional refractory materials accounted for 92.04% of total revenue during the reporting period[14]. Research and Development - R&D expenditure amounted to 7,489,539.10 yuan, representing 7.06% of operating revenue, an increase from 6.49% in the previous period[77]. - The total number of R&D personnel increased from 20 to 23, with the proportion of R&D personnel in total employees rising from 12.82% to 15.75%[78]. - The company has successfully developed a new type of high-temperature low-temperature combined breathable element, which enhances energy efficiency and extends product lifespan[82]. - The company has filed for two invention patents related to the development of breathable elements, indicating a focus on innovation and product diversification[82]. - The company has established partnerships with Xi'an University of Architecture and Technology to advance research on CNT paper/Silicon Carbide composite materials, enhancing its technological capabilities[83]. Shareholder Returns and Dividends - The company distributed a cash dividend of RMB 1.2 per 10 shares to all shareholders, totaling RMB 10,320,000 in June 2023[5]. - The company completed the annual equity distribution for 2022 in June 2023, reflecting its commitment to shareholder returns[5]. - The annual distribution plan includes a cash dividend of 1.2 RMB per 10 shares, with no stock or capital increase proposed[142]. - The company has confirmed that the annual distribution plan complies with its articles of association and relevant laws[143]. Risk Management - The company has faced risks related to raw material price fluctuations, which significantly impact production costs and overall performance[13]. - The company has implemented effective internal controls regarding accounts receivable management, which is crucial given the significant impact on financial statements[85]. - There are no new risk factors identified during the reporting period, indicating stability in the company's risk management[105]. - The company has not experienced any major changes in significant risks during the reporting period[104]. Corporate Governance - The company has established a comprehensive internal control system to ensure compliance with relevant laws and regulations, enhancing operational efficiency and long-term development[165]. - The company has strengthened its governance mechanisms to protect the rights of all shareholders, particularly minority shareholders, through various internal control measures[166]. - The board of directors consists of 7 members, while the supervisory board has 3 members and there are 6 senior management personnel[144]. - The company has established four specialized committees under the board of directors to enhance governance and oversight[178]. - The independent directors strictly adhered to relevant laws and regulations, ensuring independent opinions and effective supervision of board decisions[182]. Assets and Liabilities - Total assets increased by 1.29% to CNY 363,315,536.94 at the end of 2023, compared to CNY 358,706,134.93 at the end of 2022[31]. - The company's total liabilities decreased by 1.06% to CNY 32,410,304.89 in 2023 from CNY 32,757,163.27 in 2022[31]. - The company's accounts receivable amounted to RMB 77,617,843.72, representing 21.36% of total assets, indicating a significant proportion of receivables[14]. - The company's accounts receivable balance as of December 31, 2023, is CNY 91.39 million, with a provision for bad debts amounting to CNY 13.78 million, representing 21.36% of total assets[85]. Employee and Management Changes - The total number of employees decreased from 156 to 146, with a net reduction of 10 employees during the reporting period[158]. - The number of technical staff increased from 20 to 23, while production personnel decreased from 86 to 74[158]. - The company appointed new executives to enhance corporate governance, including Yang Zhanpo as Executive Vice President and Song Fei as Independent Director[151]. - The independent director, Li Jian, resigned for personal reasons during the reporting period[151]. Future Projections - The company aims to achieve an annual revenue target of 122,00.81 million yuan in 2024, representing a 15% increase from the 106,09.40 million yuan achieved in 2023[97]. - The net profit attributable to shareholders is projected to reach 17,56.77 million yuan in 2024, also reflecting a 15% growth from the previous year's 15,27.63 million yuan[97]. - The company plans to maintain an average annual revenue growth of over 15% over the next two years by enhancing R&D capabilities and production processes[96].
科创新材(833580) - 2023 Q4 - 年度财报