longda(SH:688231)2024-04-25 11:44Financial Performance - The company achieved operating revenue of CNY 1,207,662,355.60 in 2023, representing a year-on-year increase of 26.91%[19]. - The net profit attributable to shareholders was CNY 55,379,296.23, a decrease of 41.36% compared to the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 29,350,930.81, down 40.82% year-on-year[19]. - The net cash flow from operating activities was CNY -202,230,074.11, indicating a significant improvement from CNY -322,158,090.78 in the previous year[19]. - The total assets at the end of 2023 were CNY 3,356,058,163.08, an increase of 5.93% from the previous year[20]. - The basic earnings per share decreased to CNY 0.22, down 51.11% from CNY 0.45 in 2022[20]. - The company's net assets attributable to shareholders at the end of 2023 were CNY 2,780,290,734.50, a slight decrease of 0.72% from the previous year[19]. - The company reported a significant reduction in financing cash flow, down 95.94% to CNY 76,534,790.15, due to decreased bank financing[101]. - The company reported a stable performance with a revenue increase of 15% year-over-year, reaching $1.2 billion in the latest quarter[171]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.2 RMB per 10 shares, totaling approximately 29.15 million RMB (including tax) based on a total share count of 246,857,143 shares[5]. - The total distributable profit as of December 31, 2023, is CNY 130,273,528.62[195]. - The proposed cash dividend is CNY 1.2 per 10 shares (including tax), totaling CNY 29,152,272.48 (including tax) based on the adjusted total share capital[195]. - The cash dividend proposal is subject to approval at the 2023 annual general meeting[196]. Research and Development - The research and development expenditure accounted for 6.01% of operating revenue, a slight decrease from 6.41% in the previous year[20]. - The company applied for 23 invention patents and was granted 12, demonstrating its commitment to innovation and technological advancement[34]. - R&D expenditures for the year amounted to approximately ¥72.61 million, representing a 19.02% increase from the previous year[67]. - The company has applied for a total of 183 patents, including 150 invention patents, with 23 new invention patents filed during the reporting period[65]. - The company is involved in two national major science and technology projects and multiple significant research tasks, contributing to the development of advanced materials for military and civilian aerospace engines[84]. Market Expansion and Sales Growth - The company has established a new market layout focusing on high-temperature alloy products, primarily targeting major clients in the aerospace and gas turbine sectors, with significant sales growth in both domestic and international markets[30]. - Internationally, the company has accelerated its market presence, supplying major global engine manufacturers and entering long-term supply agreements, which will enhance its international business prospects[32]. - The company reported a 93.06% increase in international revenue, reflecting the company's accelerated global market expansion[106]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share by the end of 2024[164]. - Market expansion efforts led to a 20% increase in market share in the Asia-Pacific region[168]. Operational Efficiency and Cost Management - The company aims to reduce operational costs by 15% through efficiency improvements and technology upgrades[171]. - The company emphasizes cost reduction through technological innovation, aiming for dual increases in quality and efficiency while reducing costs[141]. - The gross profit margin for high-temperature alloys decreased by 6.2 percentage points, attributed to fluctuations in raw material prices[106]. - Operating costs increased to CNY 1,022,104,718.10, reflecting a 31.47% rise year-on-year, primarily due to the growth in sales of high-temperature alloy products[100]. Corporate Governance and Compliance - The company has not reported any special arrangements for corporate governance[6]. - The company has established a competitive salary policy linked to performance and capabilities, aiming to enhance employee motivation and productivity[191]. - The company emphasizes training and development, combining internal and external resources to enhance employee skills and capabilities[192]. - The company is enhancing its governance structure to ensure compliance with relevant laws and regulations, maintaining effective operational management[144]. Strategic Initiatives and Future Outlook - The company plans to enhance its market share and internal capabilities in 2024, focusing on high-quality development and achieving rapid growth in economic volume and efficiency[35]. - The company aims to become an international first-class high-temperature alloy R&D and manufacturing base, focusing on key national industries such as aerospace and energy[137]. - The company is committed to increasing the sales proportion of high-value-added products and implementing a collaborative market mechanism to ensure growth[141]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[158]. Risks and Challenges - The company faces risks related to raw material price fluctuations, particularly for nickel, copper, and cobalt, which significantly impact production costs[92]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[7].