富创精密(688409) - 2023 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of RMB 2,065.76 million, an increase of 33.75% compared to the same period last year[44]. - The net profit attributable to shareholders of the listed company was RMB 168.69 million, a decrease of 31.28% year-on-year[44]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 86.39 million, down 51.48% from the previous year[44]. - In 2023, the company's operating revenue reached CNY 206,575.59 million, a year-on-year increase of 33.75%[67]. - The net profit attributable to shareholders was CNY 16,868.79 million, a decrease of 31.28% compared to the previous year[69]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,639.02 million, down 51.48% year-on-year[69]. - The company's cash flow from operating activities was negative CNY 38,638.18 million, primarily due to increased inventory and slow customer payment cycles in mainland China[69]. - The basic earnings per share decreased by 44.14% to CNY 0.81, while diluted earnings per share also fell by 44.14%[70]. Dividend and Capital Increase - The company plans to distribute a cash dividend of RMB 5.00 per 10 shares (including tax) and to increase capital by 4.8 shares for every 10 shares held, resulting in a total cash dividend of RMB 103,098,605 and a capital increase of 98,974,660 shares[11]. - The total share capital before the proposed capital increase is 209,053,334 shares, which will increase to 308,027,994 shares post-implementation[11]. - The company's total share capital will be adjusted based on the final registration results from the China Securities Depository and Clearing Corporation[11]. Research and Development - Research and development expenses accounted for 9.97% of operating revenue, an increase of 2.08 percentage points from the previous year[68]. - The company is focused on continuous R&D to keep pace with process advancements and semiconductor equipment updates[40]. - The company has increased its investment in high-end technical talent to strengthen its core business[82]. - The company is committed to increasing its R&D investment to enhance product performance and process levels, focusing on collaboration with clients and universities for joint research initiatives[138]. - In 2023, the company's R&D investment totaled approximately 20,601.63 million CNY, a significant increase of 69.08% compared to 12,184.83 million CNY in the previous year[150]. - The company applied for 132 new patents during the reporting period, with 53 patents granted, bringing the total to 688 applications and 235 granted patents[150]. Market and Economic Conditions - The company faces risks related to macroeconomic fluctuations affecting downstream application fields, which could significantly impact business performance[43]. - Future market demand in sectors such as 5G communication, consumer electronics, and automotive electronics may be impacted by economic volatility[44]. - The global semiconductor equipment market is dominated by international manufacturers, and any trade barriers could adversely affect the company's export business[43]. - The semiconductor industry is currently in a downturn, but there are signs of recovery in the second half of 2023[82]. Operational Challenges - The company has experienced a rapid increase in accounts receivable due to business expansion, which may impact performance if not managed effectively[36]. - The company faces risks related to tax incentives and government subsidies, which accounted for 18.33% and 62.54% of total profit, respectively[179]. - The company operates in the semiconductor equipment precision components industry, facing challenges due to smaller business scale and weaker capital strength compared to international peers[185]. - The company's cash flow from operating activities was negative CNY 38,638.18 million, primarily due to increased inventory and slow customer payment cycles in mainland China[69]. Strategic Initiatives - The company is exploring new strategies for market expansion and potential mergers and acquisitions to enhance its competitive position[44]. - The company has established wholly-owned subsidiaries in Singapore and the United States to expand international business and enhance global layout[106]. - The company has established long-term stable partnerships with major semiconductor equipment manufacturers, expanding overseas capacity and setting up wholly-owned subsidiaries to enhance international business[167]. Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy of the financial statements[4]. - The company is actively enhancing its internal governance structure to comply with relevant laws and regulations, aiming to improve overall governance levels[110]. Environmental and Energy Management - The company has established an energy management system to monitor and manage energy usage, aiming to reduce greenhouse gas emissions and enhance energy conservation awareness among employees[194].