WOER(SZ:002130)2024-04-22 11:08Financial Performance - The company's net profit attributable to shareholders was adjusted to reflect a loss of ¥16,648,700.95 due to a retrospective adjustment related to loans made to a subsidiary[10]. - In 2023, the company achieved operating revenue of 572,322.18 million yuan, a year-on-year increase of 7.16%[68]. - The net profit attributable to shareholders of the listed company reached 70,048.31 million yuan, up 13.97% year-on-year[68]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 64,736.98 million yuan, an increase of 14.89% compared to the previous year[68]. - The total operating revenue for 2023 reached ¥5,723,221,818.17, representing a year-on-year increase of 7.16% compared to ¥5,340,853,994.66 in 2022[73]. - The revenue from new materials was ¥4,862,631,780.23, accounting for 84.96% of total revenue, with a year-on-year growth of 3.97%[73]. - The revenue from new energy products increased significantly by 29.63%, reaching ¥860,590,037.94, up from ¥663,871,005.93 in the previous year[73]. - The gross margin for electronic products improved due to increased R&D investment and cost reduction measures, while the gross margin for wire products decreased by 4.02% due to sales decline and structural changes[71]. - The total cost of sales for electronic products was ¥1,421,082,723.18, with a slight increase of 0.68% from the previous year[78]. - The company reported a decrease in financial expenses by 24.09%, totaling ¥54,088,154.55, due to reduced interest-bearing liabilities and lower loan rates[90]. - Investment income rose by 27.48% to ¥11,923,187.55, primarily driven by increased long-term equity investment income[90]. - The cash flow from operating activities decreased by 4.81% to ¥828,072,426.36 compared to the previous year[92]. - The company experienced a significant increase in asset impairment losses, which rose by 92.47% to ¥40,650,638.45, mainly due to goodwill impairment[90]. - The basic earnings per share for 2023 was ¥0.56, up 14.29% from ¥0.49 in 2022[125]. - The total assets of the company at the end of 2023 amounted to ¥9,001,534,842.51, an 8.09% increase from ¥8,327,897,188.78 in 2022[126]. - The net assets attributable to shareholders increased by 13.01% to ¥4,907,545,574.96 in 2023 from ¥4,359,087,519.75 in 2022[126]. - The company plans to distribute a cash dividend of ¥1.70 per 10 shares, with no bonus shares issued[107]. Product Development and Innovation - The company holds over 1,800 valid patents, including more than 400 invention patents, and added 242 new authorized patents in 2023, of which 59 were invention patents[26]. - The company completed the development of a new 150℃ dual-wall tube product, designed for high-temperature environments, primarily used in engine compartments[27]. - The company developed an 800G high-speed communication cable with various specifications, which has passed customer validation and is in small-batch production[29]. - The company is actively developing new products based on market research and customer needs, ensuring continuous innovation and technical accumulation[26]. - The company is enhancing its product offerings to meet the growing demand from international clients, including the development of charging guns that comply with European and American standards[30]. - The company has developed a 66kV offshore wind power separable connector series, which has passed series testing and certification[54]. - The company has developed multiple new medical heat shrink tubing products, including FEP medical heat shrink tubing and MT-CCB ultra-thin medical heat shrink tubing, all of which have passed biocompatibility testing[166]. - The company has successfully designed and developed 330kV and 500kV ultra-high voltage cable accessories, marking its entry as one of the few domestic manufacturers capable of producing such products[167]. - The company has completed the development of 25G Ethernet cables for vehicles, which are suitable for applications in automotive lidar and backbone network systems, featuring stable signal transmission rates and high-speed capabilities[168]. - The company is committed to maintaining technological leadership and enhancing profitability through continuous product structure optimization in its wire business[163]. Market Expansion and Strategy - The company is focusing on expanding its market share in the nuclear power, automotive, and rail transit sectors, leveraging its high-end heat-shrinkable materials[20]. - The company is actively expanding its product offerings in the new energy vehicle sector, focusing on high-voltage connectors and charging gun products[51]. - The company has established a comprehensive supply chain system to meet the growing market demand for new energy vehicles[51]. - The company is expanding its presence in overseas markets while maintaining a strong focus on domestic market growth[47]. - The company is focusing on the development of high polymer radiation-modified new materials and has expanded into wind power generation and new energy vehicles, indicating diversification of its business[154]. - The company has established a marketing network that covers major cities in China and exports products to multiple countries, demonstrating its global reach[158]. - The company is leveraging its multi-base advantages to optimize production locations and meet market demands effectively[105]. - The company plans to enhance automation, information technology, and process optimization in its wire business to strengthen market competitiveness[163]. - The company is positioned as a leader in the heat shrink materials industry, continuously increasing R&D investment and optimizing product structure to meet diverse customer needs[190]. - The company is actively expanding into the new energy sector, developing wind power and electric vehicle businesses to establish stable partnerships and enhance growth[174]. Sales and Market Demand - The installed capacity of solar power generation reached approximately 610 million kW, reflecting a year-on-year growth of 55.2%[38]. - In 2023, domestic sales of new energy vehicles reached 8.292 million units, a year-on-year growth of 33.5%, with a market share of 31.6%[40]. - The number of new charging infrastructure installations in 2023 was 3.386 million units, a year-on-year increase of 30.6%[40]. - The company has a strong market presence in the domestic market for DC charging guns, with high recognition and market share[195]. - The high-power liquid-cooled charging guns have achieved mass sales[195]. - The market demand for cable accessories is expected to continue to rise due to the growth of new energy investments and the acceleration of smart power system construction[135]. - The global AI server market is projected to reach $31.79 billion by 2025, with a compound annual growth rate of 22.7% from 2023 to 2025, driving demand for high-speed communication line products[136]. Corporate Governance and Financial Management - The company has established a comprehensive internal control system to enhance risk management capabilities, focusing on accounts receivable risk control and credit management[179]. - The company implemented a cost-leading strategy, focusing on optimizing the entire value chain and enhancing production efficiency through automation and smart manufacturing[80]. - The company has developed a digital asset management system and an invoice cloud platform, achieving digitalization in asset and invoice management[178]. - The company repurchased 13,565,000 shares, accounting for 1.08% of the total share capital, with a total transaction amount of ¥100,050,320[89]. - The company received government subsidies amounting to approximately ¥65.6 million in 2023, an increase from ¥59 million in 2022, indicating ongoing support from governmental policies[152].