Supezet(SH:688121)2024-04-19 14:18Financial Performance - The company reported no cash dividends, stock bonuses, or capital reserve transfers for the 2023 profit distribution plan[5]. - The company has not achieved profitability since its listing[4]. - The company's operating revenue for 2023 was CNY 2,958,577,194.90, representing a 0.78% increase compared to CNY 2,935,720,317.83 in 2022[19]. - The net profit attributable to shareholders for 2023 decreased by 18.75% to CNY 153,984,189.58 from CNY 189,530,434.51 in 2022[19]. - The basic earnings per share for 2023 was CNY 0.76, down 19.15% from CNY 0.94 in 2022[21]. - The net cash flow from operating activities for 2023 was negative CNY 597,461,874.41, a decline of 252.83% compared to CNY 390,942,888.22 in 2022[21]. - The total assets at the end of 2023 were CNY 7,649,033,459.60, a decrease of 0.58% from CNY 7,693,394,573.48 at the end of 2022[20]. - The total net assets attributable to shareholders increased by 25.47% to CNY 2,541,947,996.24 in 2023 from CNY 2,025,898,496.91 in 2022[20]. - The company's total revenue for 2023 reached 2.959 billion yuan, representing a year-on-year increase of 0.78%[62]. - The company's comprehensive gross margin for the reporting period was 20.52%, an increase compared to the previous year, primarily due to improved sales structure and cost reduction efforts[113]. Operational Highlights - The company has detailed various operational risks in the "Management Discussion and Analysis" section of the report[4]. - The company has no non-operating fund occupation by controlling shareholders or related parties[7]. - The company has no violations of decision-making procedures for external guarantees[7]. - The company has a continuous supervision period with Guotou Securities from December 27, 2023, to December 31, 2025[18]. - The company experienced a significant increase in inventory due to new project preparations, impacting cash flow negatively[21]. - The company achieved operating revenue of 295,857.72 million yuan in 2023, a year-on-year increase of 0.78%[33]. - The company has established long-term stable partnerships with leading enterprises such as Sinopec and PetroChina, enhancing its market position[62]. - The company has a significant capital expenditure with construction in progress amounting to CNY 185,176.36 million, a 45.69% increase from the previous year[121]. Research and Development - The company's R&D expenditure as a percentage of operating revenue was 3.15% in 2023, down from 3.92% in 2022[21]. - The company is focusing on enhancing its R&D capabilities and manufacturing processes to address capacity bottlenecks and expand into new energy and petrochemical sectors, thereby improving profitability and risk resilience[45]. - The company has accumulated 253 intellectual property rights as of December 31, 2023, including 34 invention patents and 190 utility model patents, with 12 new invention patents granted in 2023[68]. - The company is committed to developing new materials and achieving domestic substitution in key material fields, which aligns with national strategic goals[44]. - The company is actively investing in green and low-carbon technologies, focusing on clean energy and sustainable development[36]. Market and Competitive Position - The company is expanding its international market presence, covering 16 countries and enhancing product competitiveness globally[40]. - The company has a high market share in its products and services, indicating strong competitive advantages[62]. - The company is positioned as a leading integrated service provider in the petrochemical equipment sector, with advanced technology levels and significant sales scale[61]. - The petrochemical industry is evolving towards diversification and high-end development, with rapid growth in biotechnology, fine chemicals, new materials, and new energy sectors, creating new growth points for the industry[63]. - The company has established a comprehensive marketing system covering 27 provinces in China and 16 countries overseas, effectively increasing market share[99]. Strategic Initiatives - The company is actively pursuing digital transformation and smart upgrades in response to global energy structure adjustments and environmental requirements, aiming to improve production efficiency and reduce operational risks[51]. - The company is committed to integrating its research and development capabilities with partners like Zhonghe Puyuan to advance innovations in equipment systems and hydrogen energy[62]. - The company plans to focus on new products, new models, and new technologies, aiming to provide integrated services across the entire industrial chain[100]. - The company aims to create a comprehensive intelligent device integration service model, transitioning from a petrochemical equipment company to a global service provider[178]. - The company is committed to ESG initiatives, focusing on green operations and compliance with social responsibilities[180]. Governance and Management - The company has established a governance structure that ensures independence and coordination among the shareholders' meeting, board of directors, and supervisory board[184]. - The company has established an ESG management committee as part of its governance structure[187]. - The chairman of the board, Zhang Jinhong, increased his shareholding from 60 million to 75.47 million shares, a change of 15.47 million shares[190]. - The total remuneration for Zhang Jinhong for the reporting period was 770,500 RMB[190]. - The company has a strong management team with rich market expansion and management experience, supported by a stock incentive plan to align interests among shareholders and core teams[101]. Risks and Challenges - The company faces risks related to core technology talent retention, as the loss of key personnel could impact ongoing research and development capabilities[104]. - The company experiences seasonal revenue fluctuations, with quarterly revenue distribution of 2.00%, 40.03%, 13.96%, and 44.01% across the year, indicating potential forecasting challenges[106]. - The company is exposed to risks from potential changes in tax incentives, as it has been recognized as a high-tech enterprise with a reduced corporate income tax rate of 15%[116]. - The company faces risks from high customer concentration, with sales to the top five customers accounting for 93.23% of total revenue, totaling CNY 275,833.90 million[109].