Company Overview - The company was listed on the Beijing Stock Exchange on July 3, 2023[5]. - The company participated in the formulation of 3 national standards and 2 industry standards in 2023[5]. - The company obtained one invention patent and its subsidiary received two invention patents in 2023[5]. - The company was recognized as a "Technology-based Small and Medium-sized Enterprise" by the Hebei Provincial Department of Science and Technology[5]. - The company and its subsidiary jointly obtained EU PED certification for two product categories[5]. - The company achieved a significant milestone by obtaining the "Special Equipment Production Certificate" from the People's Republic of China[5]. - The company is engaged in the research, design, production, and sales of pressure regulators, pressure regulating devices, and pressure containers[18]. - The company has a registered capital of 114,680,000 RMB[20]. - The actual controller of the company is Gu Hongjun, with Gu Hongmin as a concerted actor[19]. Financial Performance - The company's operating revenue for 2023 was ¥173,216,497.03, a decrease of 14.79% compared to ¥203,271,401.83 in 2022[25]. - The net profit attributable to shareholders for 2023 was ¥23,606,658.65, down 37.22% from ¥37,602,209.59 in 2022[25]. - The gross profit margin for 2023 was 39.94%, a decline from 44.94% in 2022[25]. - Total assets increased by 21.76% to ¥651,192,917.62 at the end of 2023, compared to ¥534,831,131.68 at the end of 2022[26]. - Total liabilities decreased by 8.36% to ¥90,866,530.60 at the end of 2023, down from ¥99,152,355.24 at the end of 2022[26]. - The net asset attributable to shareholders increased by 28.38% to ¥559,335,558.62 at the end of 2023, compared to ¥435,678,776.44 at the end of 2022[26]. - The basic earnings per share for 2023 was ¥0.24, a decrease of 45.45% from ¥0.44 in 2022[25]. - The operating cash flow for 2023 was ¥18,993,839.22, a significant decline of 62.10% from ¥50,111,222.73 in 2022[26]. - The company reported a total non-recurring gains and losses of ¥5,353,006.36 in 2023, compared to ¥2,765,798.64 in 2022[32]. Revenue and Sales - The company’s quarterly revenue for Q4 2023 was ¥44,337,522.55, with a net profit of ¥9,079,270.91 attributable to shareholders[30]. - The company achieved operating revenue of 173.22 million yuan, a decrease of 14.79% compared to the same period last year[41]. - Net profit for the period was 23.60 million yuan, down 37.24% year-on-year[41]. - The company's cash and cash equivalents at the end of the period were 159.06 million yuan, an increase of 196.32% from the beginning of the year[45]. - The company’s inventory decreased by 15.08% to 609.67 million yuan compared to the previous year[44]. - The company’s short-term borrowings increased by 66.65% to 400.41 million yuan compared to the previous year[44]. - Sales revenue from pressure regulating box products decreased to CNY 15,061,700, a year-on-year decline of 30.72%, primarily due to reduced demand from downstream gas companies[58]. - Revenue from the South China region increased to CNY 10,653,000, a year-on-year growth of 116.75%, attributed to increased contract amounts with South China customers[59]. Research and Development - The company’s R&D expenditure amounted to ¥9,111,557.58, representing 5.26% of operating revenue, an increase from 4.86% in the previous period[83]. - The number of patents owned by the company increased to 107, with 5 of them being invention patents[86]. - The company has completed several R&D projects aimed at enhancing product efficiency and safety, which are expected to improve market share and customer satisfaction[87]. - The company is actively expanding its market presence through new product development and technological advancements[87]. - The total number of R&D personnel decreased from 60 to 58, with the proportion of R&D staff to total employees slightly declining from 16.11% to 15.54%[84]. Corporate Governance - The company has maintained its board and management structure without any changes during the reporting period[145]. - The company’s board consists of 9 members, while the supervisory board has 3 members, ensuring a balanced governance structure[142]. - The company has established a comprehensive compensation and performance evaluation system, tailored to different employee levels and positions, enhancing talent retention and development[149]. - The independent directors provided prior approval and independent opinions on board matters, which were accepted by the company[172]. - The company maintains independence from its controlling shareholders in business, personnel, assets, and finance, ensuring autonomous operational capability[175]. Shareholder Information - The company initiated a share repurchase plan on August 3, 2023, with a total repurchase amount between ¥8,000,000 and ¥10,000,000, aimed at stabilizing the stock price and enhancing shareholder value[118]. - As of November 24, 2023, the company repurchased 1,869,241 shares, representing 1.63% of the total share capital, with a total expenditure of ¥8,099,899.21[118]. - The maximum repurchase price was set at ¥5.07 per share, with the highest transaction price recorded at ¥4.54 and the lowest at ¥4.13[118]. - The company distributed a cash dividend of 1.10 RMB per 10 shares to all shareholders on November 13, 2023[136]. - The total number of shares held by the top ten shareholders is 88,936,000, representing 77.55% of the total shares[126]. Risk Management - The company faces risks related to performance growth, as its business potential is closely tied to the downstream natural gas industry's development, which is influenced by macroeconomic factors[105]. - The company is actively expanding its customer base to mitigate risks from fluctuations in the downstream industry and is enhancing new product and technology development[105]. - Direct materials account for over 70% of the main business costs, and significant price fluctuations in raw materials could adversely affect performance if costs cannot be passed on[106]. - The company is enhancing inventory management to reduce capital occupation and control inventory depreciation risks as business scales up[106]. Audit and Compliance - The audit report issued by Da Hua Accounting Firm confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2023[184]. - The audit firm has been engaged for 1 year, with an audit fee of 450,000 RMB[183]. - The company has established a comprehensive internal control system covering all operational aspects, with no significant internal control deficiencies reported at the end of the reporting period[176]. - The governance layer is responsible for overseeing the financial reporting process and ensuring the accuracy of the financial statements[193].
瑞星股份(836717) - 2023 Q4 - 年度财报