HangKe Technology(SH:688006)2024-04-25 11:30Shareholder Structure - As of December 29, 2023, the company had 49,007 Global Depositary Receipts (GDRs) outstanding, corresponding to 98,014 underlying A-shares[3]. - The largest shareholder, Cao Ji, holds 262,663,234 shares, representing 43.51% of the total shares[3]. - Hangzhou Hangke Intelligent Equipment Group Co., Ltd. is the second-largest shareholder with 134,975,968 shares, accounting for 22.36%[3]. - The company reported a decrease of 7,584,821 shares held by Hong Kong Central Clearing Limited, now holding 12,054,441 shares[3]. - The total number of shares held by the top ten shareholders includes significant stakes from various investment funds, with the largest fund holding 11,185,325 shares[3]. - The company does not have any strategic investors or general corporations that became top shareholders through the allocation of new shares or depositary receipts[14]. - Cao Ji is identified as the controlling shareholder and actual controller of the company, with no other significant controlling relationships reported[16]. - The company has not experienced any changes in control during the reporting period[18]. - The report indicates that there are no special circumstances regarding the company's controlling shareholder situation[17]. - The company has a clear ownership structure with no undisclosed relationships among the top shareholders[9]. - There were no significant changes in the top ten shareholders compared to the previous period, suggesting stability in ownership structure[29]. Financial Performance - Hangke Technology's 2023 annual revenue reached CNY 393,171.90 million, representing a growth of 13.83% compared to 2022, driven primarily by sales of lithium-ion battery charging and discharging equipment[26]. - The net profit for the period was approximately ¥794.36 million, compared to ¥465.09 million in the previous period, representing a significant increase[48]. - The total comprehensive income for the period was ¥794.36 million, up from ¥465.09 million year-over-year[48]. - The net profit for 2023 reached ¥809,090,505.69, a significant increase of 64.8% compared to ¥490,594,411.85 in 2022[64]. - The total comprehensive income for 2023 was ¥813,899,138.57, up from ¥495,647,120.00 in the previous year, reflecting a growth of 64.1%[66]. - Basic and diluted earnings per share for 2023 were both ¥1.35, compared to ¥0.87 in 2022, indicating a 55.2% increase[66]. - The company's operating revenue for 2023 reached approximately ¥3.93 billion, an increase of 13.83% compared to ¥3.45 billion in 2022[190]. - The net profit attributable to shareholders for 2023 was approximately ¥809.09 million, representing a significant increase of 64.92% from ¥490.59 million in 2022[190]. - The net profit after deducting non-recurring gains and losses for 2023 was approximately ¥790.58 million, up 67.14% from ¥473.01 million in 2022[190]. Asset Management - The company's total current assets increased to CNY 8,616,837,172.79 in 2023, up from CNY 6,711,965,163.59 in 2022, indicating a significant growth in liquidity[40]. - The total assets of Hangke Technology amounted to CNY 10,224,758,500.85 in 2023, compared to CNY 7,966,087,105.80 in the previous year, reflecting a robust expansion in the company's asset base[40]. - Accounts receivable rose to CNY 1,902,796,347.12 in 2023, up from CNY 1,673,164,923.92 in 2022, highlighting an increase in sales and potential credit risk[40]. - The company's inventory also saw an increase, reaching CNY 2,901,476,917.36 in 2023, compared to CNY 2,380,677,299.30 in 2022, which may indicate higher production levels or slower sales[40]. - The fixed assets of Hangke Technology increased to CNY 1,264,096,156.79 in 2023, up from CNY 954,337,911.33 in 2022, suggesting ongoing investments in infrastructure[40]. - The company reported a significant increase in prepayments, which rose to CNY 42,841,452.58 in 2023 from CNY 18,078,982.30 in 2022, indicating potential future revenue recognition[40]. - Hangke Technology's total non-current assets reached CNY 1,607,921,328.06 in 2023, compared to CNY 1,254,121,942.21 in 2022, reflecting strategic long-term investments[40]. Cash Flow and Dividends - Cash inflows from operating activities totaled approximately ¥4.90 billion, compared to ¥4.01 billion in the previous year, indicating a growth of about 22%[50]. - Cash outflows from operating activities were approximately ¥4.69 billion, an increase from ¥3.31 billion, resulting in a net cash flow from operating activities of ¥214.97 million, down from ¥695.72 million[51]. - The ending cash and cash equivalents balance was approximately ¥2.87 billion, up from ¥1.99 billion at the beginning of the period[51]. - The company plans to distribute a cash dividend of 3.4 CNY per 10 shares, totaling approximately 205.25 million CNY, which represents 25.37% of the net profit attributable to shareholders for 2023[152]. - The total cash dividend for the year amounts to approximately 253.54 million CNY, accounting for 31.34% of the net profit attributable to shareholders for 2023[152]. Research and Development - The company has a significant investment in research and development for new lithium battery automation production lines and protection board products[90]. - Research and development investment accounted for 6.19% of operating revenue, an increase of 0.19 percentage points from 6.00% in 2022[164]. - The company emphasizes a research and development model focused on both custom product design and new product development, enhancing competitiveness through efficient R&D processes[178]. Market and Industry Outlook - The lithium battery industry is expected to see a recovery in demand in 2024, driven by reduced inventory risks and continued growth in new energy vehicles and energy storage[179]. - The company is focusing on new technologies that enhance cost efficiency and energy density in lithium battery production, which are crucial for maintaining competitiveness in a supply-exceeding-demand environment[179]. - The company plans to prioritize international business expansion while maintaining domestic operations, reflecting a strategic shift in response to market conditions[199]. - The company continues to strengthen partnerships with major Korean and Japanese battery manufacturers, enhancing its position as a strategic supplier[199]. - The competitive landscape in the domestic market has intensified, leading to a reduction in domestic orders compared to 2022[199]. - The company is focusing on expanding its presence in emerging markets, including Europe and India, to mitigate risks associated with the domestic market downturn[199].