FAST PRINT(SZ:002436)2024-04-24 10:13Financial Performance - The company's operating revenue for 2023 was ¥5,359,923,893.28, representing a slight increase of 0.11% compared to ¥5,353,854,994.29 in 2022[14]. - The net profit attributable to shareholders for 2023 was ¥211,212,047.25, a significant decrease of 59.82% from ¥525,633,105.29 in 2022[14]. - The net cash flow from operating activities for 2023 was ¥125,467,202.79, down 82.75% from ¥727,441,912.21 in 2022[14]. - The basic earnings per share for 2023 was ¥0.13, a decline of 60.61% compared to ¥0.33 in 2022[14]. - The total assets at the end of 2023 were ¥14,935,398,718.36, an increase of 25.55% from ¥11,888,295,338.85 in 2022[15]. - The net assets attributable to shareholders decreased by 18.42% to ¥5,333,940,140.88 in 2023 from ¥6,538,557,557.62 in 2022[15]. - The company's overall gross margin declined by 5.34 percentage points, with the expense ratio increasing by 2.10 percentage points[36]. - The company achieved a total revenue of 5,359,923,893.28 CNY, a year-on-year increase of 0.11%[36]. - Net profit attributable to shareholders decreased by 59.82% to 21,121.20 CNY, while net profit excluding non-recurring items fell by 87.92% to 4,776.35 CNY[36]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares to all shareholders, based on a total share base of 1,689,594,682 shares[3]. - The company will not issue bonus shares or convert reserves into share capital in the profit distribution plan[3]. - The company reported a net profit available for distribution to shareholders of CNY 111,276,982.63, with a cash dividend of CNY 84,359,734.10, representing 100% of the profit distribution[133]. - The cash dividend per 10 shares is CNY 0.50, with a total share capital of 1,689,594,682 shares as of December 31, 2023[133]. - The company has implemented a cash dividend policy to provide stable returns to investors, adhering to regulatory guidelines[132]. Research and Development - R&D expenses amounted to CNY 49,150.27 million, a year-on-year increase of 28.40%, representing 9.17% of total revenue, up 2.02 percentage points[28]. - The company applied for 51 patents during the reporting period, including 33 invention patents, and has a total of 611 valid patents as of December 31, 2023[28]. - The company has established three provincial-level R&D institutions and has undertaken a national major science and technology project, enhancing its capability for national-level projects[28]. - The company is investing 100 million RMB in R&D for new technologies, aiming to innovate and stay competitive in the industry[111]. - The management team emphasizes the importance of innovation and is committed to ongoing research and development efforts[108]. Market and Industry Outlook - The global PCB industry value in 2023 was $69.517 billion, a year-on-year decline of 15.0%[24]. - The global PCB industry is projected to recover in 2024, reaching a value of $72.971 billion, a year-on-year growth of 4.97%[23]. - The compound annual growth rate (CAGR) for the global PCB industry from 2023 to 2028 is estimated at 5.4%[25]. - The Chinese market's CAGR from 2023 to 2028 is projected at 4.1%, lower than the global average due to supply chain shifts[25]. - The PCB industry faced significant challenges in 2023, with declining downstream demand and intense price competition impacting overall performance[33]. Environmental Compliance and Sustainability - The company is committed to complying with environmental protection laws and regulations, ensuring sustainable operations[146]. - The company has achieved ISO14001 environmental management system certification and ISO45001 occupational health and safety management system certification, enhancing its environmental management capabilities[196]. - The company has implemented measures for energy conservation, emission reduction, and clean production, receiving multiple awards for its environmental efforts[196]. - The company has established a dedicated EHS (Environment, Health, and Safety) team to monitor and ensure compliance with environmental policies[164]. - The company is focused on reducing its environmental impact, as evidenced by the reported values for total phosphorus emissions at 3.19, which exceed the standard of 1.4506[162]. Corporate Governance - The company has maintained a strict governance structure in compliance with relevant laws and regulations, ensuring no administrative regulatory measures were taken against it during the reporting period[95]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with regulatory requirements[95]. - The company has established a comprehensive supplier management system to ensure fair and transparent procurement processes[196]. - The company is committed to maintaining compliance and protecting the rights of all shareholders[123]. - The company has established a standardized and independent financial accounting system, with a dedicated financial department and personnel[97]. Strategic Initiatives and Acquisitions - The company completed the acquisition of Beijing Xingfei in July 2023, contributing 38,920.89 CNY in revenue and 6,098.17 CNY in net profit during the consolidation period[35]. - A strategic acquisition in Beijing is underway, aimed at enhancing the company's market position and technological capabilities[90]. - The company is actively pursuing market expansion strategies, including a recent acquisition project in Beijing, which is anticipated to enhance operational efficiency[91]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[111]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[91]. Employee Engagement and Workforce Management - The total number of employees at the end of the reporting period is 7,736, with 4,637 in production, 286 in sales, 1,690 in technology, 133 in finance, and 990 in administration[128]. - The company has implemented an employee stock ownership plan to enhance employee engagement and retention[129]. - The company focuses on talent development through a structured training system that includes career progression paths, qualification systems, and an online learning platform[130]. - The company has a comprehensive compensation management policy that links individual performance to organizational performance, encouraging employees to create value[129]. - The company has a complete and independent employee team with established labor and personnel management systems[97]. Risk Management - The company has outlined potential risks and corresponding countermeasures in the section discussing future development prospects[3]. - The company faces risks from geopolitical conflicts, inflation pressures, and trade frictions, which may impact its strategic and operational management[86]. - The company is actively monitoring raw material price fluctuations, which are influenced by international commodity prices, to mitigate cost pressures[87]. - The company plans to optimize its customer structure to build a resilient client base and reduce the risk of bad debts[86]. - The company has established a risk management system for derivative trading, including measures to prevent market, liquidity, credit, operational, and legal risks[68].