Financial Performance and Management - The Group's capital expenditure for 2023 amounted to approximately RMB 26.4 million, a significant increase from RMB 6.5 million in 2022, primarily for the acquisition of energy storage production lines and other fixed assets[2]. - The Group incurred short-term borrowings of RMB 9.9 million during the year, with RMB 8 million secured against the intellectual property of a subsidiary[3]. - The Group's financial performance is significantly influenced by policy changes in the new energy power industry, which could lead to reduced demand and impact operational performance[7]. - The Group's financial management practices ensure sufficient working capital to meet current and future operational and financial needs[1]. - The company does not have a predetermined dividend payout ratio, and any future dividends will depend on the board's discretion based on operational performance, cash flow, and financial condition[71]. Human Resources and Employment - As of December 31, 2023, the Group employed a total of 151 employees, a decrease from 218 employees as of December 31, 2022[4]. - As of December 31, 2023, the Group had a total of 151 employees, with 10% of senior management and 34% of the total workforce being female[175]. - The Board comprises seven members, including two female Directors and five male Directors, with a diverse range of skills and experiences in various fields[171]. Governance and Compliance - The company has complied with all applicable code provisions under the Corporate Governance Code during the year ended December 31, 2023[54]. - The company has adopted the principles and code provisions set out in the Corporate Governance Code as the basis for its governance practices[54]. - The company is committed to sustainable development by enhancing compliance management systems[56]. - The company prohibits unauthorized use of confidential or inside information and regularly reminds directors and employees about compliance with securities dealing restrictions[92]. - The Company complied with relevant legal and regulatory requirements during the year, ensuring effective corporate governance practices[179]. Board Structure and Diversity - The Group's board composition includes a mix of executive and independent non-executive directors, ensuring diverse governance[37]. - The Company has adopted a Board Diversity Policy to enhance diversity at the Board level, recognizing its importance for competitive advantage[170]. - Diversity in the Board's composition is considered from various perspectives, including professional experience, gender, age, and cultural background[200]. - The Nomination Committee is responsible for reviewing Board composition and making recommendations on the appointment and succession planning of Directors[162]. - The Nomination Committee evaluates the qualifications of retiring Directors standing for re-election at the annual general meeting[196]. Risk Management and Internal Control - The board reviewed the risk management and internal control systems for the year ended December 31, 2023, and deemed them effective and adequate[90]. - The company has established internal guidelines and procedures to monitor and mitigate risks arising from daily operations, which are crucial for business sustainability[88]. - The Audit Committee's primary duties include reviewing the Group's financial information, overseeing the financial reporting system, and ensuring compliance with accounting standards and legal requirements[125]. - The Board monitors the Group's operational and financial performance to ensure sound internal control and risk management systems are in place[133]. Committees and Meetings - The Company has established an Audit Committee, which held two meetings during the year ended December 31, 2023, to review and discuss the annual financial performance and interim financial results[130]. - The Remuneration Committee held one meeting during the year and made recommendations on the remuneration packages of individual executive Directors and senior management[190]. - The Nomination Committee held one meeting during the year ended December 31, 2023, focusing on the structure, size, composition, and diversity of the Board[196]. - The Audit Committee held two meetings during the year to discuss financial reporting systems, risk management, and internal control systems[186]. Research and Development - The Group's commitment to research and development is reflected in its investment in new technologies and solutions for the new energy sector[11].
纳泉能源科技(01597) - 2023 - 年度财报