JINSHENG(SZ:300849)2024-04-24 10:11Financial Performance - The company reported a decline in foreign sales revenue due to weak demand in overseas markets, contributing to overall performance losses [3]. - The company's operating revenue for 2023 was ¥259,857,941.97, an increase of 7.04% compared to ¥242,773,752.42 in 2022 [25]. - The net profit attributable to shareholders was -¥23,874,906.99, a decrease of 6.07% from -¥22,509,546.17 in the previous year [25]. - The net cash flow from operating activities decreased by 55.28% to ¥20,144,239.74 from ¥45,043,936.75 in 2022 [25]. - The total assets at the end of 2023 were ¥852,355,845.49, reflecting a 6.63% increase from ¥799,363,305.72 at the end of 2022 [25]. - The basic earnings per share for 2023 was -¥0.16, a decline of 6.67% compared to -¥0.15 in 2022 [25]. - The company reported a quarterly revenue of ¥80,175,325.94 in Q4 2023, which is the highest among the four quarters [27]. - The net profit attributable to shareholders in Q4 2023 was -¥6,828,738.94, showing a significant loss [28]. - The company’s net assets attributable to shareholders decreased by 3.70% to ¥621,401,645.53 at the end of 2023 from ¥645,276,552.52 at the end of 2022 [25]. - The company experienced a total of ¥8,919,099.54 in non-recurring gains and losses for 2023 [32]. Market and Industry Trends - The company operates in the plastic packaging industry, which has shown signs of recovery post-pandemic, particularly in the Asia-Pacific region [36]. - The retail sales of cosmetics in China increased from CNY 134.01 billion in 2012 to CNY 402.6 billion in 2021, with a compound annual growth rate (CAGR) of 11.63% [37]. - In 2022, the retail sales of cosmetics in China were CNY 393.6 billion, a decrease of 2.24% compared to 2021, but in 2023, it rebounded to CNY 414.2 billion, reflecting a year-on-year growth of 5.23% [37]. - The Asia-Pacific region is currently the largest cosmetics consumption market globally, with China, Japan, India, Brazil, and the United States projected to be the top five demand markets by 2025 [37]. - The cosmetic plastic packaging industry is less affected by economic cycles, with stable consumer demand due to the diversification of cosmetic brands and the expanding consumer base [40]. Product Development and R&D - The company plans to enhance R&D investment to improve product quality and develop new products, aiming to strengthen market competitiveness [4]. - The company has developed a strong R&D capability, holding 72 patents and mastering core technologies in mold development, design, manufacturing, and injection molding [62]. - The company has completed several new product developments, including a new structure series for packaging that enhances design efficiency and reduces costs [84]. - The company is focused on developing new products in the color cosmetics and personal care sectors to extend its product offerings and enhance its market position [117]. - The company is investing in R&D, with a budget increase of 10% to enhance product innovation and technology development [185]. Operational Efficiency and Cost Management - The production capacity utilization rate for the new project of 45 million cosmetic packaging containers did not significantly improve, leading to higher fixed costs [3]. - The company is committed to optimizing business processes and enhancing internal control management to improve overall operational profitability [4]. - The company has implemented a production model based on sales orders, ensuring efficient order delivery and maintaining low inventory levels [53]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain [185]. - The company is focused on improving production efficiency and strengthening information management across procurement, production, inventory, and sales [190]. Financial Management and Governance - The company will not distribute cash dividends, issue bonus shares, or increase capital using reserves, indicating a focus on reinvestment [7]. - The company has established an independent financial management system and does not share bank accounts with its controlling shareholder [135]. - The company has a governance structure with a board term set from November 2022 to November 2025 for several key executives [138]. - The company has maintained a stable shareholding structure with no significant changes reported in the current period [138]. - The company reported a total compensation of RMB 4.8474 million for directors, supervisors, and senior management during the reporting period [150]. Shareholder Relations and Compliance - The company emphasizes the protection of the interests of all shareholders, particularly minority investors [157]. - The company is committed to transparency and compliance with relevant laws and regulations regarding its IPO and share transactions [184]. - The company will announce any share reduction plans three trading days in advance and complete the reduction within six months [187]. - The company will ensure that the share reduction price does not fall below the IPO price or the latest net asset value per share [187]. - The company will publicly explain any failure to fulfill commitments and apologize to shareholders and investors [189]. Environmental Responsibility - The company has implemented energy-saving measures, including the use of photovoltaic low-voltage distribution cabinets and solar panels, to reduce carbon emissions [176]. - All waste produced during the manufacturing process has been effectively disposed of, complying with relevant environmental regulations [177]. - The company has committed to fulfilling its social responsibility regarding ecological environment protection without any pollution incidents [177]. - The company plans to release its 2023 Social Responsibility Report on April 25, 2024 [178]. Future Outlook and Strategic Initiatives - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% [185]. - Market expansion plans include entering two new international markets by the end of the next fiscal year [185]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million yuan allocated for potential deals [185]. - The company aims to enhance investor confidence and maintain stock price stability through these measures [182].