Jikai(SZ:002691)2024-04-19 12:21Financial Performance - The company's operating revenue for 2023 was CNY 336,808,679.30, representing a 2.40% increase compared to CNY 328,919,847.13 in 2022[22]. - The net profit attributable to shareholders was a loss of CNY 1,824,780.81, a decline of 113.50% from a profit of CNY 13,474,932.16 in 2022[22]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 31,987,578.36, a decrease of 664.16% compared to a profit of CNY 5,629,981.70 in 2022[22]. - Cash flow from operating activities increased significantly to CNY 82,217,077.46, up 464.62% from CNY 14,561,402.70 in 2022[22]. - Basic earnings per share were -CNY 0.01, a decrease of 125.00% from CNY 0.04 in 2022[22]. - The weighted average return on equity was -20.32%, down from 1.51% in 2022, indicating a significant decline in profitability[22]. - The total profit amounted to CNY -6.54 million, representing a year-on-year decline of 145.00%, while the net profit attributable to shareholders was CNY -1.82 million, down 113.50%[50]. - The company reported a government subsidy of 22,468,749.29 yuan in 2023, up from 7,999,593.39 yuan in 2022[30]. Assets and Liabilities - The total assets of Jikai Equipment Manufacturing Co., Ltd. decreased by 4.00% from the end of 2022 to 1,131,460,044.27 yuan at the end of 2023[23]. - The net assets attributable to shareholders decreased by 0.48% to 895,514,164.76 yuan at the end of 2023 compared to the end of 2022[23]. - The company's accounts receivable decreased by 4.72% to ¥207,351,593.40, while inventory dropped by 4.34% to ¥188,944,600.95[66]. - The total amount of cash and cash equivalents at the end of the period was ¥56,337,485.71, representing 4.98% of total assets[66]. Market and Industry Outlook - The coal mining machinery industry is expected to benefit from national policies supporting intelligent mining and equipment upgrades, indicating a positive market outlook[81]. - The coal industry remains a critical energy source in China, with ongoing government support for its development and modernization[81]. - Future strategies may include market expansion and new product development to improve financial performance[22]. Research and Development - The company is focusing on the development of intelligent mining equipment, responding to the increasing demand in the coal mining industry[35]. - The company has a strong technological foundation, with over 30% of its workforce engaged in R&D and collaborations with various international research institutions[48]. - Research and development expenses increased by 4.82% to ¥18,410,546.98, accounting for 5.47% of operating revenue[63]. - The company is currently in the R&D phase for a new explosion-proof diesel engine scheduling locomotive aimed at enhancing product competitiveness and market share[61]. Corporate Governance - The company plans to enhance its corporate governance structure and implement cost reduction measures to improve operational efficiency in 2024[82]. - The annual shareholders meeting had a participation rate of 66.33% on May 18, 2023, where key proposals including the 2022 financial report were approved[92]. - The first extraordinary shareholders meeting in 2023 had a participation rate of 66.32% on December 27, 2023, addressing several governance proposals[94]. - The company has a structured remuneration decision process, with internal directors and supervisors' salaries determined by the shareholders' meeting[108]. Risk Management - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the past three years[24]. - The company faces risks including talent competition, raw material price fluctuations, accounts receivable recovery, gross margin volatility, and market competition[83]. - The company aims to strengthen risk prevention mechanisms to ensure sustainable development and stability in operations[82]. Employee and Management - The total number of employees at the end of the reporting period was 741, with 304 in production, 69 in sales, 140 in technical roles, 17 in finance, 114 in administration, and 97 in support[117]. - The company has implemented a performance-based compensation system to enhance employee income, aiming to reach or exceed the top level in the domestic manufacturing industry[118]. - The employee training program includes onboarding, safety, professional skills, and quality training to enhance overall employee capabilities[119]. Financial Reporting and Audit - The audit opinion for the financial statements was a standard unqualified opinion, issued on April 19, 2024[190]. - The management is responsible for ensuring that the financial statements fairly reflect the company's financial position and for maintaining necessary internal controls[198]. - The auditors aim to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error[199]. Shareholder Information - The total number of shares before the change was 339,290,736, with a post-change total of 335,640,259 shares[171]. - The total number of shares held by the top 10 shareholders includes 113,462,855 shares (33.37%) held by Feng Chunbao and 98,600,000 shares (29.00%) held by Shenzhen Zhuozhong Dafu Investment Partnership[176]. - The company has not reported any changes in the financing and securities lending business among the top 10 shareholders[178].