TKD(SH:603738)2024-04-26 12:12Financial Performance - The net profit attributable to the parent company for 2023 is CNY 101,303,647.37, with retained earnings at CNY 414,006,704.58 as of December 31, 2023[6]. - The company's operating revenue for 2023 was ¥792,860,209.78, a decrease of 13.48% compared to ¥916,362,017.08 in 2022[24]. - Net profit attributable to shareholders for 2023 was ¥101,303,647.37, down 46.26% from ¥188,518,338.68 in 2022[24]. - The basic earnings per share for 2023 was ¥0.26, a decline of 46.94% compared to ¥0.49 in 2022[25]. - The weighted average return on equity decreased to 5.62% in 2023, down 5.29 percentage points from 10.91% in 2022[25]. - The total profit was 115.40 million RMB, down 47.92% year-on-year, while net profit reached 102.25 million RMB, a decline of 46.19%[57]. - The net cash flow from operating activities for 2023 was ¥272,828,134.42, a decrease of 19.25% from ¥337,861,722.03 in 2022[24]. - The total assets at the end of 2023 were ¥2,041,617,849.56, a decrease of 1.06% from ¥2,063,402,640.83 at the end of 2022[24]. Dividend Policy - The proposed cash dividend is CNY 0.81 per share (including tax), with no bonus shares or capital reserve conversion[6]. - The total cash dividend amount for the year was 30,725,003.59 RMB, representing 30.33% of the net profit attributable to ordinary shareholders[146]. - The company has a cash dividend policy that requires the board to consider the interests of minority shareholders[132]. - The company adopts a profit distribution policy prioritizing cash dividends, with a minimum cash distribution of 20% of distributable profits if there are no major investment plans or cash expenditures[135]. - The company has a policy that requires cash dividends to constitute at least 80% of the total distribution in mature stages without major expenditures, and at least 20% in growth stages with significant spending[136]. Market Strategy and Operations - The company is focused on expanding its market presence and enhancing its product offerings in the quartz crystal frequency component sector[14]. - The company focused on expanding market share by enhancing customer development efforts and increasing penetration in key markets such as IoT, automotive electronics, and industrial control[35]. - The company plans to expand its product offerings in emerging markets and high-value sectors, including smart meters, photovoltaics, and energy storage[35]. - The company aims to optimize market ecology by increasing market penetration among existing customers and expanding new customer applications, particularly in high-end applications[91]. - The company is committed to independent innovation, focusing on the industrialization of high-frequency photolithography chips and the development of high-performance chips for special applications[92]. Research and Development - The company emphasized R&D investment, achieving significant breakthroughs in quartz crystal etching technology and enhancing the performance and yield of high-end chips[37]. - The company invested CNY 36.59 million in R&D in 2023, focusing on high-end product development and enhancing quartz chip capabilities[74]. - The number of R&D personnel is 144, accounting for 8.59% of the total workforce[73]. - The company has developed 153 patents, including 31 invention patents, and has been involved in drafting national standards for electronic components[51]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[7]. - The company has detailed potential risks in the management discussion and analysis section of the report[9]. - The company faces risks related to technology development, product quality, new customer acquisition, core technology leakage, and changes in tax incentives and financial subsidies[94][95]. - The company faces risks from intensified industry competition, which may lead to underutilization of new production capacity and impact profitability if market demand declines[96]. Corporate Governance - The company held one annual and one extraordinary shareholders' meeting during the reporting period, ensuring compliance with legal and regulatory requirements to protect minority shareholders' rights[99]. - The board of directors convened seven meetings, with all members actively participating and fulfilling their responsibilities[100]. - The supervisory board held four meetings, ensuring compliance with regulations and oversight of significant transactions and financial conditions[100]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, ensuring effective governance structures are in place[104]. Environmental Responsibility - The company has established a robust environmental protection system and has not faced penalties for environmental violations since its inception[102]. - The company has implemented measures to reduce carbon emissions, including the development of low-power crystal oscillators to lower product power consumption[165]. - The company has installed photovoltaic systems on factory rooftops to decrease energy consumption[166]. - The company promotes ecological civilization and green development, advocating for a low-carbon lifestyle among employees[163]. Shareholder Engagement - The company actively engages with investors through dedicated hotlines and performance briefings, enhancing communication with the capital market[102]. - The company has consistently provided opportunities for minority shareholders to express their opinions and ensure their rights are protected[144]. - The company has established a remuneration committee to oversee compensation decisions for its executives[113]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to $1.32 billion[108]. - The company plans to deepen its main business and enhance management quality, targeting high-frequency, high-stability, and low-jitter quartz crystal frequency components to increase market share[91]. - The company aims to strengthen its core business and increase profitability by focusing on the production and sales of crystal oscillators and related devices, leveraging its technological innovations[181].