OLYMPIC(SH:603920)2024-04-24 11:52Customer and Supplier Contributions - The top five customers contributed sales of CNY 1,070.23 million, accounting for 23.68% of the total annual sales, with no sales from related parties[3]. - The top five suppliers accounted for CNY 1,105.35 million in purchases, representing 45.00% of the total annual procurement, with no purchases from related parties[4]. Financial Performance - The company's operating revenue for 2023 was CNY 4,519,080,877.22, representing a year-on-year increase of 1.96% due to product structure optimization[48]. - The net profit attributable to shareholders for 2023 was CNY 495,524,652.31, reflecting a 14.17% increase compared to the previous year, driven by improved gross margins[48]. - The net cash flow from operating activities for 2023 reached CNY 1,438,023,245.44, a significant increase of 45.59% year-on-year, attributed to increased sales collections and bill settlements[48]. - The total assets at the end of 2023 amounted to CNY 6,310,265,837.4, showing a growth of 7.63% compared to the end of 2022[47]. - The company's net assets attributable to shareholders at the end of 2023 were CNY 3,275,365,479.2, an increase of 9.53% from the end of 2022[48]. - The company achieved a basic earnings per share of CNY 0.93 in 2023, representing a 13.41% increase compared to CNY 0.82 in 2022[73]. - The company's revenue for the reporting period was 45.19 billion yuan, an increase of 1.96% year-on-year[80]. - Net profit attributable to shareholders was 4.96 billion yuan, representing a year-on-year growth of 14.17%[80]. - The net profit excluding non-recurring gains and losses was 489 million yuan, up 12.35% compared to the previous year[145]. - The company maintained a healthy financial status with a debt ratio of 18.65%, down 1.45 percentage points from the previous year, and an interest coverage ratio of 11.50, up 22.68%[165]. Research and Development - Total R&D investment amounted to CNY 161.89 million, which is 3.58% of the operating revenue, with no capitalized R&D expenses[6]. - R&D investment reached CNY 16,188.98 million, accounting for 3.58% of the company's revenue, with the addition of 10 utility model patents and 1 invention patent during the reporting period[63]. - The company is actively pursuing partnerships with academic institutions to enhance its R&D capabilities and drive innovation in PCB technology[64]. - The company has made significant investments in R&D, focusing on high-reliability and high-density materials for automotive applications[142]. - The company has a strong focus on R&D, with 635 R&D personnel, accounting for 9.7% of the total workforce[176]. Market Expansion and Product Development - The company successfully expanded its overseas market presence, obtaining certifications from major clients such as Amazon and Samsung, and entering NVIDIA's supply chain[57]. - The company established wholly-owned subsidiaries in Japan and Singapore to enhance customer service quality and support overseas market development[57]. - The company is focusing on the new energy vehicle market as a key growth area in China, aiming for dual-market expansion[84]. - The company has expanded its automotive PCB supply to major brands such as Tesla, BMW, and Volkswagen, further increasing its market share in the new energy vehicle segment[60]. - The company is actively pursuing new product development and has successfully launched strategic new products into mass production[91]. - The company is focused on expanding its product offerings, including new products for automotive radar and 5G communication, to meet market demands[66]. - The company is actively expanding its PCB business in artificial intelligence, low-altitude flight, wind power, photovoltaics, and energy storage, achieving significant progress in these areas[126]. Production and Operational Efficiency - The company has implemented a fully automated drilling production line, improving efficiency and reducing labor costs[68]. - The company has established a comprehensive supplier evaluation and management system to mitigate supply chain risks[104]. - The company has a stable order flow in automotive PCBs, particularly in the electric vehicle sector, which is a key development area[159]. - The company has made progress in developing high-frequency, high-layer PCBs, with mass production capabilities for up to 24 layers and manufacturing capacity for 28-layer products[114]. - The company has developed production capabilities for 24-layer ultra-low loss server PCBs and 5G communication PCBs, with manufacturing capabilities for 28-layer products for AI servers[164]. - The company has successfully launched high thermal conductivity HDI PCBs and high-voltage thick copper PCBs for applications in new energy vehicle energy management systems[65]. - The company has implemented an automated online desorption system to enhance efficiency and reduce energy consumption in production processes[115]. - The company is enhancing automation and smart manufacturing to improve production efficiency and product quality[93]. Risk Management and Compliance - The company has not reported any significant changes in non-operating profit or loss during the reporting period[6]. - The company has not identified any major risks that could materially affect its production and operations during the reporting period[37]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[37]. - The company’s annual report has been audited by Tianjian Accounting Firm, which issued a standard unqualified opinion[36]. - The company has maintained a robust quality control system, certified by multiple international standards, ensuring high product reliability and safety[143]. Strategic Partnerships and Client Relationships - The company has established long-term stable partnerships with well-known brands, enhancing customer loyalty and recognition in the market[132]. - The company has deepened cooperation with leading international technology clients, maintaining high growth in business volume[86]. - The company is actively pursuing partnerships with academic institutions to enhance its R&D capabilities and drive innovation in PCB technology[64].