云天励飞(688343) - 2023 Q4 - 年度财报

Financial Performance - The company reported a total revenue of CNY 506.01 million for the year 2023, with a net loss attributable to shareholders of CNY -383.12 million[3]. - The net profit excluding non-recurring gains and losses was CNY -499.69 million for the same period[3]. - The company has not achieved profitability during the reporting period[3]. - The company's operating revenue for 2023 was approximately ¥506 million, a decrease of 7.36% compared to ¥546 million in 2022[36]. - The net loss attributable to shareholders for 2023 was approximately ¥383 million, an improvement from a loss of ¥447 million in 2022[36]. - The net cash flow from operating activities for 2023 was approximately -¥541 million, worsening from -¥410 million in 2022[36]. - The weighted average return on equity improved to -10.55% in 2023, an increase of 25.24 percentage points from -35.79% in 2022[37]. - The gross margin for the fiscal year 2023 improved to 45%, up from 40% in 2022, reflecting better cost management and pricing strategies[90]. Shareholder and Governance Matters - The board of directors approved a profit distribution plan, but the company currently has negative retained earnings and does not meet the distribution criteria[5]. - The company prioritizes investor relations management, ensuring transparency and timely information disclosure to all shareholders[121]. - The company has established a comprehensive governance structure, actively engaging with investors through various communication channels to gather feedback and improve governance[124]. - The shareholder, Donghai Yuntian, holds over 5% of the company's shares and is committed to long-term stockholding, planning to gradually reduce shares after the lock-up period in compliance with relevant regulations[130]. - The company emphasizes the importance of adhering to the Shanghai Stock Exchange's rules regarding share transfers and reductions[130]. - The company will enforce strict compliance with regulations to prevent any unauthorized share reductions by major shareholders[130]. - The company has committed to timely disclosure of any failure to fulfill commitments and to compensate investors for any losses incurred due to such failures[175]. Government Support and Subsidies - The company received government subsidies amounting to CNY 74.26 million, which are closely related to its normal business operations[19]. - The company reported a significant increase in government subsidies received during the reporting period, contributing to the narrowing of losses[71]. Research and Development - The company is focused on developing new technologies and products to enhance its market position[20]. - The R&D expenditure as a percentage of operating revenue was 58.27% in 2023, down 5.17 percentage points from 63.44% in 2022[37]. - The company has developed three models of the DeepEdge10 chip, which are now being shipped in bulk to various industries including cameras and robotics[43][44]. - The company is investing RMB 200 million in R&D for new AI models, including industry-specific and scenario-specific models, to improve performance in targeted applications[90]. - The "Yun Tian Shu" foundational large model includes language and multimodal models, achieving industry-leading capabilities in data understanding and Q&A, and ranked first in tests like C-Eval and CMMLU in 2023[99]. - The company has made significant advancements in R&D, product development, and business expansion in 2023, particularly with the DeepEdge10 chip[103]. Market Expansion and Strategy - There are ongoing discussions regarding market expansion strategies to increase user engagement and revenue streams[20]. - The company is exploring potential mergers and acquisitions to strengthen its competitive edge in the industry[20]. - The company is focusing on market expansion in Southeast Asia, targeting a 15% market share by the end of 2024[90]. - The company provided guidance for 2024, projecting revenue growth of 20% to RMB 1.8 billion, driven by new product launches and market expansion efforts[90]. Internal Control and Compliance - The management has emphasized the importance of ensuring the accuracy and completeness of the financial report, taking legal responsibility for any misstatements[21]. - The company emphasizes internal control management and has established a robust internal control system to enhance operational efficiency[106]. - The company has established a comprehensive information security protection system, including various internal control measures to prevent the leakage of core data[155]. - The company has committed to avoiding related party transactions with any members of the group, ensuring fairness and normal commercial terms[24]. Corporate Social Responsibility - The company has committed to corporate social responsibility, partnering with charities to leverage AI technology for public safety, successfully aiding in the recovery of abducted children[112]. - The company maintains a strong focus on environmental protection, promoting energy conservation and sustainable practices among employees[109]. Audit and Compliance - The company has appointed Tianzhi International Accounting Firm as the auditor for the fiscal year 2023, with a remuneration of 100 million[152]. - The company has a total of 5 years of audit experience with the current accounting firm, ensuring continuity and expertise in financial reporting[152]. - The company has committed to returning all benefits obtained from the equity incentive plan if any false statements or omissions are confirmed in the information disclosure documents, with a commitment period lasting up to 48 months[150].