博迁新材(605376) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was CNY 688,907,455.43, a decrease of 7.72% compared to CNY 746,554,001.30 in 2022[21] - The net profit attributable to shareholders of the listed company was a loss of CNY 32,311,146.15, a decline of 121.05% from a profit of CNY 153,481,152.34 in the previous year[21] - The net profit after deducting non-recurring gains and losses was a loss of CNY 38,143,575.60, down 125.28% from CNY 150,882,696.85 in 2022[21] - The cash flow from operating activities was CNY 179,720,998.99, an increase of 434.53% compared to a negative cash flow of CNY 53,723,650.40 in 2022[21] - The total assets at the end of 2023 were CNY 1,941,721,201.25, a decrease of 6.54% from CNY 2,077,553,595.76 at the end of 2022[21] - The net assets attributable to shareholders of the listed company were CNY 1,578,278,652.22, down 6.56% from CNY 1,689,123,672.37 in 2022[21] - The basic earnings per share for 2023 was CNY -0.12, down 120.34% from CNY 0.59 in 2022[22] - The weighted average return on equity decreased to -1.98% in 2023, down 11.37 percentage points from 9.39% in 2022[22] - The cost of sales increased by 24.00% to ¥585,311,429.76 compared to the previous year[52] - The company reported a total of 29.51 million in asset impairment and credit impairment provisions, which reduced the total profit for the consolidated financial statements by the same amount[69] Sales and Market Performance - In 2023, the company reported a total sales revenue of CNY 688,907,455.43, a decrease of 7.72% compared to the previous year[34] - The overall sales volume of the company's products showed a noticeable increase compared to 2022, despite the overall performance decline[34] - The company achieved sales revenue of 54,933,415.95 CNY from silver-coated copper powder products during the reporting period[35] - Nickel powder sales revenue decreased by 18.54% to ¥500,247,856.61, while its gross margin fell to 18.36%[54] - The sales volume of nickel powder increased by 6.43%, while the production volume decreased by 16.52%[56] - Domestic sales revenue grew by 6.19% to ¥224,911,646.07, while foreign sales revenue increased by 24.44% to ¥381,960,864.09[55] Research and Development - R&D investment for the year 2023 reached 68.48 million CNY, an increase of 7.98% compared to the same period last year[36] - The company focused on the development and mass production of small particle size powders below 180 nanometers, enhancing its product line to meet market demand[34] - The company launched multiple new models and specifications of powder products to support its future expansion in the high-end electrode nickel powder market[34] - The company aims to improve production processes through innovative grading techniques and adjustments to manufacturing routes[34] - The number of R&D personnel was 157, making up 15.76% of the total workforce, with a diverse educational background[66] Risk Management - The company has outlined various risks and countermeasures in its report, which can be found in the section on "Management Discussion and Analysis" under "Potential Risks"[7] - The company faces risks from macroeconomic fluctuations, with a decline in demand for MLCC products impacting sales revenue in 2022 and 2023[91] - Customer concentration risk is significant, with the top five customers accounting for 79.73% of revenue, and a notable reliance on Samsung Electro-Mechanics, which constituted 44.78% of total revenue[93] - Raw material price volatility poses a risk, particularly for nickel, copper, and silver, which can significantly affect production costs and gross margins[94] - Inventory management risks exist due to the need for safety stock and potential price declines in raw materials, which could negatively impact operational efficiency[96] Corporate Governance - The company has established a governance framework consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and effective checks and balances[101] - The board of directors comprises nine members, including three independent directors, and has established specialized committees to enhance decision-making efficiency[106] - The company has maintained complete independence from its controlling shareholder in terms of personnel, assets, business, and finance, with no instances of fund or asset occupation since its listing[104] - The company has implemented a robust internal control system and improved information disclosure practices to protect the rights of all shareholders, especially minority shareholders[102] - The company has conducted multiple investor engagement activities, including earnings briefings for the 2022 annual, 2023 semi-annual, and third quarter results, to facilitate communication with investors[109] Employee Management - The total number of employees in the parent company is 473, while the total number of employees in major subsidiaries is 523, resulting in a combined total of 996 employees[129] - The company has established a comprehensive employee compensation management system to enhance cohesion and attract high-quality talent[130] - The company emphasizes performance-based salary distribution, linking employee compensation to labor output and company profits[131] - The company has a training program in place to ensure 100% certification for special operations personnel and conducts regular safety training for all employees[136] - The employee structure includes 730 production personnel, 14 sales personnel, 157 technical personnel, 12 financial personnel, and 83 administrative personnel[129] Environmental and Social Responsibility - The company invested 77.32 million RMB in environmental protection during the reporting period[150] - The company implemented carbon reduction measures, resulting in a decrease of 5,292.37 tons of CO2 equivalent emissions[152] - The company made a total charitable contribution of 200,000 RMB during the reporting period[153] Shareholder and Dividend Policy - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares, totaling 47,088,000 RMB (including tax) for the 2023 fiscal year[139] - The total cash dividend amount represents a significant portion of the company's net profit attributable to ordinary shareholders, which is reported as -32,311,146.15 RMB[142] - The cash dividend distribution plan requires approval from the 2023 annual general meeting of shareholders[139] - The company has maintained compliance with regulations regarding cash dividends, ensuring the protection of minority shareholders' rights[140]