JXPCB(SH:688655)2024-04-26 11:41Financial Performance - The company achieved a net profit attributable to shareholders of 13,469,654.44 CNY for the fiscal year 2023[6]. - A cash dividend of 0.75 CNY per 10 shares (including tax) is proposed, totaling approximately 10,004,250.00 CNY, which represents 74.27% of the net profit[6]. - The company's operating revenue for 2023 was approximately ¥464.12 million, representing a 4.38% increase compared to ¥444.66 million in 2022[20]. - The net profit attributable to shareholders for 2023 decreased by 71.04% to ¥13.47 million from ¥46.51 million in 2022[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6.27 million, down 81.66% from ¥34.19 million in 2022[20]. - The net cash flow from operating activities for 2023 was ¥37.15 million, a decrease of 54.82% compared to ¥82.23 million in 2022[20]. - The total assets at the end of 2023 were approximately ¥1.04 billion, a decrease of 1.15% from ¥1.05 billion at the end of 2022[20]. - The company's net assets attributable to shareholders increased by 1.09% to ¥692.26 million at the end of 2023 from ¥684.76 million at the end of 2022[20]. - The basic earnings per share for 2023 were ¥0.10, down 71.43% from ¥0.35 in 2022[21]. - The gross profit margin for the printed circuit board segment decreased by 5.62 percentage points to 15.14%[109]. Market Challenges - The company faces significant challenges in performance growth due to weak market demand influenced by high global inflation and slower-than-expected macroeconomic recovery[20]. - The company faced significant challenges due to a complex macro environment and intensified industry competition, leading to short-term performance pressure[31]. - The company is exposed to raw material price fluctuation risks, as the cost of key materials like copper and resin significantly affects overall production costs[94]. - The company is exposed to foreign exchange risks due to significant revenue from overseas markets, primarily settled in USD[102]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 7.00% in 2023 from 6.66% in 2022[21]. - The total R&D investment for the year reached ¥32,490,353.98, representing a 9.74% increase compared to ¥29,607,647.04 in the previous year[69]. - The company holds a total of 229 effective patents, including 33 invention patents and 196 utility model patents, with 8 new invention patents granted during the reporting period[67]. - The company has developed several key technologies for 5G high-frequency circuit boards, including laser drilling and surface micro-etching techniques[20]. - The company has established partnerships with research institutions to enhance R&D efforts, focusing on key common technologies in the industry[67]. Production and Operations - The company achieved operating revenue of 464.12 million yuan in 2023, an increase of 4.38% year-on-year, while net profit attributable to shareholders decreased by 71.04% to 13.47 million yuan[31]. - The company has established a one-stop service model for prototype and mass production, enhancing customer R&D efficiency and reducing time and resource waste[83]. - The company has expanded its service model from prototype to mass production, enhancing its market share in sectors such as new energy vehicles, smart cockpits, and 5G communications[49]. - The company has implemented a comprehensive quality control system to ensure high-quality products, which includes all stages from raw material procurement to after-sales service[88]. - The company can deliver double-sided boards within 24 hours and multilayer boards within 36 hours, demonstrating a strong delivery capability[89]. Strategic Focus - The company plans to focus on markets such as automotive electronics, new energy, 5G communication, artificial intelligence, and computing, while accelerating expansion into overseas markets in Japan, South Korea, Europe, and the United States[23]. - The company aims to enhance its core competitiveness through various measures to prepare for future development[31]. - The company is committed to expanding its domestic and international market presence, particularly in automotive electronics, new energy, and AI sectors, to increase order diversity[146]. - The company is focusing on enhancing its capabilities in micro-hole technology, achieving aspect ratios of 1:1, which is critical for advanced circuit board applications[74]. Governance and Compliance - The company has established a scientific, concise, and effective internal control system, with no significant control deficiencies reported during the reporting period[196]. - The internal control audit report issued by the accounting firm provided a standard unqualified opinion on the effectiveness of the internal controls for the 2023 financial report[197]. - The company has maintained compliance with its cash dividend policy and has ensured that minority shareholders' rights are protected[184]. - The company has not faced any penalties from securities regulatory authorities in the past three years[166]. Talent and Human Resources - The total number of employees in the parent company is 491, while the total number of employees in major subsidiaries is 552, resulting in a combined total of 1,043 employees[176]. - The company has implemented a restricted stock incentive plan for 2023, targeting directors, senior management, core technical personnel, and other key staff, with performance assessments linked to company and individual metrics over three accounting years[178]. - The company has established a dual-track talent development mechanism, focusing on training for outstanding talents, urgent needs, and systematic training for young employees[179]. - The company has a total of 367 technical personnel, 55 sales personnel, and 519 production personnel among its workforce[176]. Future Outlook - The company anticipates steady growth in PCB demand driven by emerging applications in 5G, AI, IoT, and automotive electronics[137]. - The PCB industry is expected to benefit from the recovery of overall demand and technological upgrades in various sectors, including data centers and automotive electronics[137]. - Future outlook remains positive with a focus on maintaining current market positions and exploring potential acquisitions[158].