LMC(SZ:002921)2024-04-19 15:28Financial Performance - The company's operating revenue for 2023 was ¥1,104,002,066.84, a decrease of 10.23% compared to ¥1,229,792,918.33 in 2022[18]. - The net profit attributable to shareholders of the listed company was ¥4,873,030.26, representing a significant decline of 81.09% from ¥25,775,588.38 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was -¥3,623,286.40, a decrease of 117.48% compared to ¥20,724,973.19 in 2022[18]. - The company's total assets at the end of 2023 were ¥2,274,872,829, reflecting a slight increase of 0.04% from ¥2,265,194,005 at the end of 2022[19]. - The net assets attributable to shareholders of the listed company decreased by 3.09% to ¥1,190,419,442 from ¥1,228,393,829.45 at the end of 2022[19]. - The basic earnings per share for 2023 were ¥0.04, down 80.00% from ¥0.20 in 2022[18]. - The net cash flow from operating activities was ¥104,559,210.17, an increase of 1.48% compared to ¥103,036,588.54 in 2022[18]. - The total operating revenue for 2023 was ¥1,104,002,066.84, a decrease of 10.23% compared to ¥1,229,792,918.33 in 2022[51]. - The industrial segment accounted for 96.62% of total revenue, with a revenue of ¥1,066,656,949.19, down 11.24% year-over-year[51]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1 RMB per 10 shares (including tax) to all shareholders, based on a total share capital of 121,760,359 shares after deducting repurchased shares[3]. - The total share capital as of the report date is 130,882,359 shares, with 9,122,000 shares repurchased[3]. - The total distributable profit for the parent company is 90,039,618.10 CNY, with a cash dividend distribution plan of 1 CNY per 10 shares, totaling 12,176,035.90 CNY[169]. - The cash dividend distribution accounts for 100% of the total profit distribution amount[169]. Business Operations and Strategy - The company is focusing on new product development and customer acquisition to enhance its core competitiveness amid a challenging economic environment[30]. - The company is implementing cost reduction and efficiency enhancement measures, including optimizing internal management and organizational structure[30]. - The company is committed to sustainable development through the application of metal recycling and energy-saving technologies in the casting industry[39]. - The company has established a complete manufacturing service system for precision castings, including mold design, casting processes, machining, and performance testing[40]. - The company is actively exploring new products and customer development to enhance its core competitiveness amid a challenging economic environment[46]. - The company aims to complete the development of a new type of riser by 2024, which is expected to enhance production efficiency by over 10%[66]. - The company plans to reduce the scrap rate of castings to within 5% through the development of turbocharger housing parts, expected to be completed in 2024[66]. Market and Economic Environment - The global economic environment remains uncertain, with inflation and geopolitical tensions impacting major economies[30]. - The automotive market in China saw retail sales of 21.703 million units in 2023, with fuel vehicle sales declining by 6% to 13.95 million units compared to 2022[29]. - The company faces risks from fluctuations in raw material prices, which could adversely affect production costs and operating profits[112]. - To mitigate energy price volatility risks, the company will promote energy-saving technologies and optimize production processes[113]. Research and Development - Research and development investment was CNY 31.37 million, an increase of 9.15% year-on-year[46]. - The company has established a governance structure that complies with regulatory requirements, ensuring independent operation and decision-making[120]. - The company emphasizes the importance of R&D investment to enhance innovation and core competitiveness[114]. - The company plans to increase R&D investment to improve technological innovation capabilities and establish a higher-level technology innovation platform[110]. Governance and Management - The company has established an independent financial department with a complete accounting system, ensuring no interference from controlling shareholders in financial decisions[127]. - The company has a structured governance framework, including a shareholders' meeting, board of directors, and supervisory board, all functioning independently[126]. - The company has maintained a strong commitment to protecting the rights of all shareholders[155]. - The board of directors includes independent members with diverse expertise, ensuring effective governance and oversight[139][140]. Environmental and Social Responsibility - The company received a new pollution discharge permit valid until June 7, 2028, and is strictly adhering to environmental regulations[189]. - The company has achieved ISO 45001:2018 certification for occupational health and safety management and ISO 14001 certification for environmental management[198]. - The company has established a charity fund to assist employees facing emergencies or severe illnesses, enhancing employee welfare[198]. - The company has committed to continuous improvement in energy conservation and pollution reduction through technological advancements and management enhancements[198]. Subsidiaries and Investments - The company acquired 100% of Rizhao Liancheng Die Casting Co., Ltd. in September 2023, which is now included in the consolidated financial statements[60]. - The company established a new subsidiary, Anhui Liancheng Precision Casting Co., Ltd., with a registered capital of 50 million yuan in October 2023[60]. - The subsidiary Shandong Liancheng Electromechanical Technology Co., Ltd. reported a net profit of 8.87 million yuan, contributing significantly to the company's overall performance[104]. - The company’s subsidiary LIANCHENG (USA), INC generated a revenue of 210.39 million yuan, with a net profit of 1.42 million yuan[104]. Employee and Talent Management - The total number of employees at the end of the reporting period is 1,735, with 916 in the parent company and 819 in major subsidiaries[161]. - The company emphasizes a competitive salary structure, aligning with market standards to attract and retain talent[163]. - The training program is designed to enhance employee skills and align with the company's strategic development needs[164]. - The company has implemented a stock incentive plan, adjusting the repurchase price and canceling certain unvested restricted stocks[171].