Tederic(SH:603289)2024-04-26 09:49Financial Performance - The net profit attributable to ordinary shareholders for 2023 is CNY 85,836,840.70, with the parent company's distributable profit at CNY 575,674,618.79 as of December 31, 2023[6]. - The proposed cash dividend for 2023 is CNY 1.50 per 10 shares (including tax), with no capital reserve transfer to increase share capital or issuance of bonus shares[6]. - The company's operating revenue for 2023 was CNY 1,001,945,099.42, a decrease of 15.51% compared to CNY 1,185,897,336.97 in 2022[25]. - Net profit attributable to shareholders was CNY 85,836,840.70, down 11.21% from CNY 96,675,605.31 in the previous year[25]. - The company's total revenue for 2023 was CNY 1,001,847,552.25, a decrease of 15.52% year-on-year[93]. - The gross profit margin for the main business increased to 31.97%, up by 5.66 percentage points from 2022[94]. - The cash dividend for 2023 represents 51.65% of the net profit attributable to ordinary shareholders[168]. - The cash dividend policy has not been adjusted during the reporting period[165]. Operational Highlights - The cash flow from operating activities increased significantly to CNY 104,568,704.32, a rise of 1,262.67% compared to CNY 7,673,817.85 in 2022[25]. - Total assets at the end of 2023 reached CNY 2,339,263,721.55, reflecting a growth of 17.58% from CNY 1,989,529,500.00 in 2022[25]. - The company reported a net profit of CNY 33,761,892.01 in the first quarter of 2023, with a decline in subsequent quarters[28]. - The total cash flow from operating activities for the first quarter was CNY 48,136,001.67, showing a positive trend compared to the following quarters[28]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures for providing guarantees to external parties[9]. Market Position and Strategy - In 2023, the company established a five-year development strategy (2024-2028) focusing on enhancing product strength and service system upgrades to become a leader in the global new energy molding equipment market[36]. - The company ranked fourth in the Chinese plastic injection molding machine industry evaluation in 2023, highlighting its strong market position[37]. - The company is constructing a large integrated intelligent manufacturing base with an annual production capacity of 29 die-casting machines and 5,000 high-end injection molding equipment[40]. - The company aims to provide integrated solutions for complex injection molding and metal integration molding technologies, targeting leadership in the global new energy molding equipment sector[59]. - The company is investing in a die-casting subsidiary to develop and sell large and ultra-large die-casting machines, aiming to capture market opportunities in the new energy vehicle sector[42]. Research and Development - Research and development expenses rose by 2.42% to CNY 63,567,088.72, reflecting the company's commitment to innovation[90]. - The company is increasing R&D investment to enhance product and technology competitiveness, particularly in the new energy sector, which is experiencing a technological upgrade and industry benefits[123]. - The company has 143 R&D personnel, accounting for 16.09% of the total workforce, with a focus on enhancing product technology innovation[102]. - The company is focusing on servo energy-saving technology, precision molding technology, and multi-component injection technology to meet the evolving demands of the plastic products market[121][122]. Industry Trends and Market Insights - The global injection molding machine market was valued at approximately $15.33 billion in 2022, with projections of $15.99 billion in 2023 and $22.03 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.60%[49]. - The injection molding equipment sector represents approximately 40% of the total output value of the plastic machinery industry in China, indicating its significance in the market[49]. - The Chinese injection molding machine market is expected to continue expanding, driven by increasing demand in various sectors such as automotive, consumer goods, and packaging[49]. - The company is committed to developing new technologies and products in the "recyclable" and "biodegradable" application fields to promote sustainable development[76]. Risk Management - The company has recognized risks from downstream industry fluctuations that could negatively impact operational performance, particularly in sectors like automotive parts and logistics packaging[126]. - The company faces competitive pressures from both domestic and international high-end injection molding machine manufacturers, which could affect market share and profitability[126]. - The company faces risks related to overseas operations and export business, with significant exposure to various international market environments and potential trade protectionism, particularly from countries like India[128]. - Fluctuations in raw material prices, particularly steel, pose a risk to the company's cost control and overall operational efficiency[130]. Corporate Governance - The company has a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and protecting shareholder rights[135]. - The board of directors actively oversees major operational decisions and maintains a focus on strategic, audit, compensation, and nomination committees to enhance governance[136]. - The company has established a comprehensive assessment system for employee performance, which is a key factor in salary adjustments and bonus distributions[162]. - The company conducted a self-inspection of corporate governance and found no issues in the 2023 fiscal year[179]. Sustainability and Social Responsibility - The company is committed to sustainability, with plans to reduce carbon emissions by 25% by 2025[200]. - The company invested 503,000 RMB in environmental protection during the reporting period[182]. - The total investment in poverty alleviation and rural revitalization projects amounted to 1,000,000 RMB[184]. - The company has established environmental protection mechanisms and adheres to relevant laws and regulations[182].