KSHG(SH:605333)2024-04-25 11:14Financial Guarantees - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 71,668.43 million, which accounts for 46.42% of the company's net assets[7]. - The company provided a guarantee of RMB 64,000 million to its subsidiary KSHG, equivalent to approximately RMB 509.98 million[7]. - The company has provided debt guarantees amounting to RMB 27,158.45 million for entities with a debt-to-asset ratio exceeding 70%[7]. - The company has not provided guarantees for shareholders, actual controllers, or their related parties[7]. Fundraising and Investments - As of the end of the reporting period, the total amount of funds raised from the initial public offering was RMB 21,253 million, with a net amount of RMB 16,962.91 million after deducting issuance costs[23]. - The company raised RMB 70,300 million through a private placement, with a net amount of RMB 69,194.14 million after deducting issuance costs[23]. - Cumulative investment from the raised funds as of the reporting period is RMB 47,375.14 million, representing 68.47% of the committed investment amount[23]. - The company has not changed or terminated any fundraising projects during the reporting period[20]. Dividend and Audit - The company plans to distribute a cash dividend of RMB 0.50 per 10 shares, totaling RMB 21,838,804.05, subject to shareholder approval[28]. - The company assures that there are no significant risks that could materially affect its operations during the reporting period[28]. - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[28]. Earnings and Profitability - Basic earnings per share for 2023 increased by 30% to CNY 0.13 compared to CNY 0.10 in 2022[45]. - The net profit significantly improved, driven by the growing demand for high-voltage wire harnesses in the new energy vehicle sector[47]. - The company achieved a weighted average return on equity of 3.58%, a decrease of 0.08 percentage points from the previous year[45]. - The return on equity after excluding non-recurring gains and losses was 2.64%, down by 0.19 percentage points year-on-year[45]. - The diluted earnings per share also rose by 30% to CNY 0.13 in 2023, compared to CNY 0.10 in 2022[45]. Revenue and Growth - The company's operating revenue for 2023 reached approximately ¥4.00 billion, representing a 22.11% increase compared to ¥3.28 billion in 2022[67]. - Net profit attributable to shareholders for 2023 was approximately ¥54.10 million, a 32.17% increase from ¥40.93 million in 2022[67]. - The total assets of the company as of the end of 2023 were approximately ¥5.60 billion, reflecting a 24.83% increase from ¥4.49 billion in 2022[67]. - The company’s net assets attributable to shareholders increased by 3.89% to approximately ¥1.54 billion by the end of 2023[67]. - The company recorded a significant reduction in non-recurring losses, with a total of approximately ¥14.16 million in non-recurring gains for 2022[71]. Market and Product Development - The company is focusing on market expansion and technological innovation in response to the rapid development of the new energy vehicle market[47]. - The company is actively expanding its customer base in the new energy high-voltage wiring harness market, enhancing its market share[80]. - The company is advancing its smart manufacturing strategy, focusing on automation and data collection in production processes[82]. - The company has developed high-frequency communication data line products, which are expected to reach mass production conditions in 2024[90]. - A new R&D team has been established to focus on high-voltage connectors, with products already being delivered to major automotive clients[91]. Operational Management - The company is enhancing operational management through various measures, including strict cost control and improving internal audit supervision to ensure financial safety[92]. - The company is actively managing receivables to reduce capital occupation and ensure financial security[92]. - The company is optimizing supply chain management to reduce logistics costs and time, facilitating a quicker response to international customer demands[92]. - The company is forming strategic partnerships with upstream suppliers and downstream customers to mitigate risks associated with raw material price fluctuations[92]. Research and Development - The company’s R&D expenses increased by 29.07% to CNY 208.76 million, reflecting its commitment to innovation and product development[132]. - The company plans to enhance its R&D capabilities to strengthen its leading position in the automotive high and low voltage wire harness sector[165]. - The increase in research and development expenses was attributed to hiring more personnel for new projects and technologies, leading to higher salary costs[138]. Sales and Production - The company achieved production and sales of 1.8066 million sets of complete wire harnesses and 1.8426 million sets sold, representing a year-on-year increase of 11.33% in production and 25.39% in sales[158]. - Engine wire harnesses produced 668,600 units with sales of 678,100 units, showing a production increase of 16.43% and a sales increase of 31.44% year-on-year[158]. - Other wire harnesses saw production of 21.0486 million units and sales of 21.2613 million units, with a production decrease of 6.27% but a sales increase of 2.11% year-on-year[158]. Financial Position - Cash and cash equivalents at the end of the period amounted to ¥353,279,619.57, representing 6.31% of total assets, an increase of 29.46% compared to the previous period[169]. - Inventory decreased slightly to ¥721,001,864.76, accounting for 12.88% of total assets, a change of -3.78% from the previous period[169]. - Fixed assets increased to ¥1,492,004,121.07, making up 26.65% of total assets, with a growth of 20.47% due to the completion of construction projects and equipment purchases[169]. - The company reported a significant increase in short-term borrowings to ¥764,502,844.45, which is 13.66% of total assets, reflecting a 12.32% rise as a result of expanded business operations[169]. - Long-term borrowings rose to ¥587,625,000.00, accounting for 10.50% of total assets, with a 21.66% increase attributed to new financing for construction projects[172].