HANGZHOU TOKA(SH:688571)2024-04-22 08:22Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 15% year-over-year growth[19]. - The company's operating revenue for 2023 reached ¥1,189,511,770.36, representing a year-on-year increase of 4.39% compared to ¥1,139,480,901.90 in 2022[26]. - The net profit attributable to shareholders for 2023 was ¥122,858,456.64, a significant increase of 54.40% from ¥79,573,892.54 in 2022[26]. - The net profit after deducting non-recurring gains and losses was ¥114,455,522.88, reflecting an 80.22% increase compared to ¥63,508,050.41 in 2022[26]. - The company's cash flow from operating activities for 2023 was ¥183,103,444.93, up 24.79% from ¥146,723,666.92 in 2022[26]. - The total assets as of the end of 2023 amounted to ¥1,943,790,219.72, marking a 10.03% increase from ¥1,766,651,848.20 at the end of 2022[26]. - The weighted average return on equity for 2023 was 8.57%, an increase of 2.82 percentage points from 5.75% in 2022[28]. - The basic earnings per share for 2023 were ¥0.30, up 57.89% from ¥0.19 in 2022[27]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 1.50 per 10 shares, totaling RMB 61.27 million, which represents 49.87% of the net profit attributable to shareholders for 2023[5]. - The total share capital as of April 19, 2024, is 416 million shares, with 7.56 million shares held in the repurchase account excluded from the dividend calculation[5]. - The company does not plan to increase capital reserves or issue bonus shares this year[5]. Risk Management and Compliance - There are no significant risks that could materially affect the company's operations during the reporting period[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not faced any violations in decision-making procedures regarding external guarantees[9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[8]. - The board of directors and management have confirmed the accuracy and completeness of the annual report[4]. Research and Development - The company is investing 50 million RMB in R&D for advanced printing technologies over the next two years[19]. - The R&D expenditure as a percentage of operating revenue was 3.84% in 2023, slightly up from 3.82% in 2022[28]. - Research and development investment amounted to CNY 45.67 million, accounting for 3.84% of operating revenue, with 25 ongoing projects achieving expected results[38]. - The company achieved a total R&D investment of ¥45,674,595.17, representing a 4.90% increase from the previous year's ¥43,540,441.95[83]. - The number of R&D personnel increased to 98, representing 13.03% of the total workforce, compared to 88 and 13.31% in the previous period[93]. Market Expansion and Product Development - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[19]. - New product development includes the launch of eco-friendly ink products, expected to contribute an additional 100 million RMB in sales[19]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[19]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 30%[19]. - The company launched new products in the LED-UV ink series, which gained significant customer attention and increased the number of upgraded printing machines[39]. - The company is actively developing new products and technologies, including self-dispersing nano colorants for high-end inkjet printing applications[42]. Environmental Commitment - The company focuses on developing UV ink series, which features instant curing and no VOC emissions, making it one of the fastest-growing eco-friendly ink types in the market[50]. - The liquid ink products have achieved a transition towards alcohol-based and water-based formulations, reducing environmental impact and enhancing product sustainability[52]. - The company is committed to continuous research and development to meet the evolving needs of its customers and to drive innovation in the ink industry[53]. - The company is actively involved in the development of new technologies, including LED-UV curing technology, which is rapidly gaining traction in the market[50]. - The company aims to enhance its product offerings by integrating functional additives into its ink solutions, targeting specific applications in packaging and labeling[52]. Corporate Governance - The company has established a complete business system and independent operational capability, ensuring no conflicts of interest with controlling shareholders[192]. - The company emphasizes ongoing communication with investors to protect the rights of minority shareholders and enhance investor relations[192]. - The board of directors convened 10 meetings and completed the board re-election process, with four specialized committees established for effective governance[191]. - The supervisory board held 9 meetings, maintaining independent oversight of the company's financial activities and compliance by directors and senior management[191]. Strategic Partnerships and Collaborations - The company has established a partnership with a leading technology firm to enhance its supply chain efficiency, projected to save 20 million RMB annually[19]. - The company is actively pursuing partnerships with educational institutions to foster innovation and enhance its technological capabilities[182]. - The company is committed to expanding its market presence through strategic partnerships and technological advancements in printing materials[102]. Challenges and Industry Trends - The company faces risks related to core competitiveness, including the need for continuous innovation and the potential impact of market demand changes on its market share[106]. - The overall economic recovery remains uncertain, which may impact the company's market expansion and operational stability[115]. - The printing and recording media industry saw a revenue decline of 4.7% year-on-year, indicating a challenging environment for downstream demand[112]. - The company is exposed to risks from intensified competition in the UV ink market, with more players entering the environmentally friendly ink sector[109].