Minami(SZ:301383)2024-04-22 10:41Financial Performance - The company reported a total revenue of 500 million RMB for the fiscal year, representing a 10% increase compared to the previous year[19]. - The company's operating revenue for 2023 reached ¥1,755,918,637.49, representing a 55.98% increase compared to ¥1,125,712,572.82 in 2022[24]. - Net profit attributable to shareholders was ¥136,096,684.25, a significant increase of 103.58% from ¥66,851,711.77 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥125,907,705.23, up 76.86% from ¥71,191,609.40 in 2022[24]. - The total assets at the end of 2023 amounted to ¥2,555,295,589.15, a 131.76% increase from ¥1,102,569,531.69 at the end of 2022[24]. - The company's net assets attributable to shareholders increased by 270.89% to ¥1,866,503,509.21 from ¥503,243,458.96 in 2022[24]. - The basic earnings per share for 2023 was ¥1.34, reflecting a 74.03% increase from ¥0.77 in 2022[24]. - The company reported a significant increase in overseas revenue, which accounted for 79.21% of total revenue, growing by 57.10% year-on-year[55]. - The total operating costs were CNY 1,399,351,700.00, reflecting a year-on-year increase of 53.08%[51]. Dividend and Capital Management - The company plans to distribute a cash dividend of 3.60 RMB per 10 shares (including tax) based on a total of 116,310,000 shares[5]. - The company will increase capital reserves by converting 4 shares for every 10 shares held[5]. - The cash dividend distribution accounts for 100% of the total distributable profit of 236,028,285.48 CNY[153]. - The company will consider its cash flow and major investment projects when determining the cash dividend ratio, with a minimum of 10% of distributable profits allocated for cash dividends in profitable years[148]. - The company has a policy to reduce cash dividends for shareholders who have misappropriated company funds[150]. - The company’s cash dividend policy aligns with its articles of association and shareholder resolutions, ensuring clarity and compliance[151]. Research and Development - The company is investing in R&D for new technologies, including LE Audio applications, which are expected to enhance product offerings and market competitiveness[19]. - The company's R&D expenses amounted to CNY 113,753,305.33, accounting for 6.48% of total revenue, reflecting a 32.34% increase compared to the previous year[52]. - The company has a strong R&D team of 478 personnel, ensuring continuous access to cutting-edge acoustic technologies and enhancing its core competitiveness[44]. - The company is developing a TWS earphone with hearing assistance features to address the needs of the hearing-impaired population[63]. - The company is also working on smart glasses audio products and a remote electronic stethoscope to expand its medical device offerings[65]. Market Expansion and Strategy - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion[19]. - The company aims to expand its market reach in Southeast Asia, targeting a 20% increase in market share within the next two years[19]. - The company is actively pursuing market opportunities in the integration of consumer electronics and health care, positioning itself to capture industry growth[40][42]. - The company plans to enhance its online sales channels, aiming for a 30% increase in e-commerce revenue by the end of 2024[129]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance market share by 10%[129]. Corporate Governance and Compliance - The company is committed to enhancing its corporate governance and transparency in financial reporting[19]. - The company has maintained effective internal control over financial reporting as of December 31, 2023, with no significant deficiencies identified[161]. - The internal control evaluation report will be fully disclosed on April 23, 2024, and covers 100% of the company's consolidated financial statement assets and revenues[159]. - The company has not reported any major defects in its internal control system, ensuring a high level of operational compliance[161]. - The company emphasizes the importance of a complete internal control system for improving management and enhancing risk prevention[160]. Social Responsibility and Community Engagement - The company has created employment opportunities for nearly 438 impoverished workers, with over 280 new hires in 2023, recognized as a "Demonstration Point for Employment Poverty Alleviation" by the Jiangxi Provincial Human Resources and Social Security Department[172]. - The company donated 50 hearing aids and reimbursed travel expenses of 5,500 RMB for impoverished disabled individuals participating in a hearing aid fitting event[173]. - The company purchased a large quantity of Nanchang navel oranges to help local impoverished farmers, contributing over 500,000 RMB to their income[175]. - The company has established an independent Environmental Health and Safety Committee to oversee health, safety, and environmental measures, conducting monthly inspections and setting performance indicators[169]. - The company actively engages in social responsibility initiatives, including providing job opportunities for the impoverished and donating educational materials to local schools[170]. Risk Management - The company has identified key risks for future development, including supply chain disruptions and regulatory changes[5]. - The company faces macroeconomic risks due to global inflation and tightening monetary policies, which may impact market demand for its products[99]. - Increased competition in the consumer electronics industry poses a risk to the company's operational performance if it cannot maintain its competitive advantages[100]. - The company is exposed to foreign exchange risks due to its reliance on USD for overseas sales, which could impact competitiveness and profit margins[100]. - The company is committed to enhancing its R&D capabilities to establish a core technology advantage in the industry[100]. Management and Leadership - The company experienced a change in management with the resignation of Tang Nanzhi as a director and board secretary on November 8, 2023[123]. - The management team is committed to enhancing operational efficiency and driving growth in the upcoming fiscal year[123]. - The company is focused on maintaining stability in its leadership while adapting to market changes[123]. - The company has a current board of directors with a mix of new and existing members, ensuring continuity and fresh perspectives[123]. - The company held a total of 11 board meetings during the reporting period, with all directors present at least once[136].