YongLi(SZ:300230)2024-04-26 12:25Financial Performance - The company's operating revenue for 2023 was ¥2,021,961,528.68, a decrease of 3.75% compared to ¥2,100,715,083.25 in 2022[18]. - Net profit attributable to shareholders increased by 53.77% to ¥376,234,817.63 in 2023 from ¥244,405,871.40 in 2022[18]. - The basic earnings per share rose to ¥0.4610 in 2023, up 53.77% from ¥0.2994 in 2022[18]. - Total assets at the end of 2023 reached ¥4,223,059,352.29, reflecting a 12.63% increase from ¥3,749,073,837.67 at the end of 2022[18]. - The company reported a net cash flow from operating activities of ¥267,746,451.18, down 41.37% from ¥456,693,502.95 in 2022[18]. - Non-recurring gains and losses amounted to ¥153,578,222.20 in 2023, significantly higher than ¥14,188,506.18 in 2022[24]. - The company's total revenue for the industrial sector was approximately CNY 2.02 billion, representing a year-on-year decrease of 3.75%[84]. - The gross profit margin for the industrial sector improved to 33.11%, an increase of 2.56% compared to the previous year[84]. - The company's precision molding business reported revenue of CNY 1,023.59 million, a year-on-year decrease of 16.68%, accounting for 50.62% of total revenue[71]. - The net profit from the lightweight conveyor belt business was 180.05 million yuan, a significant increase of 540.42% year-on-year, driven by increased sales and cost control measures[70]. Dividend and Profit Distribution - The company reported a cash dividend of 1.25 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[3]. - The proposed profit distribution plan for 2023 includes a cash dividend of 1.25 yuan per 10 shares (before tax), totaling 101,750,367.63 yuan, which represents 27.39% of the net profit attributable to shareholders[194]. - The company did not distribute cash dividends or issue bonus shares for the year 2022 due to negative distributable profits, focusing instead on future business expansion needs[190][192]. Market and Industry Insights - The company operates in the rubber and plastic products industry, focusing on lightweight conveyor belts and high-end precision molding products[28]. - The lightweight conveyor belt industry is experiencing significant growth, driven by applications in food processing, logistics, agriculture, and packaging, with increasing demand for customized and high-end products[29]. - In 2023, the total social logistics volume in China reached CNY 35.24 trillion, a year-on-year increase of 5.2%, indicating a recovery trend in the logistics market that will boost demand for lightweight conveyor belts[31]. - The express delivery volume in 2023 reached 132.07 billion pieces, a 19.4% year-on-year growth, which is expected to shorten the replacement cycle of conveyor belts and stimulate investment in logistics equipment[31]. - The civil aviation industry in China completed a total transportation turnover of 118.83 billion ton-kilometers in 2023, with passenger transport increasing by 146.1%, suggesting a rising demand for lightweight conveyor belts in airport logistics[32]. Research and Development - The company invested CNY 69.39 million in R&D, representing 3.43% of total revenue, with a year-on-year increase of 4.04%[75]. - The company has a total of 255 R&D personnel, focusing on mold design and advanced injection molding technology[55]. - The number of master's degree holders among R&D personnel increased by 80% from 5 in 2022 to 9 in 2023[98]. - The company is currently in the trial production phase for several new products, including a sorting synchronous conveyor belt and a special ejection mold structure[97]. - The company has submitted 17 patent applications and obtained 11 patents in the lightweight conveyor belt sector during the reporting period[55]. Corporate Governance - The board of directors consists of 7 members, who held 6 meetings during the reporting period to discuss significant matters such as external investments and profit distribution[147]. - The company has an independent financial department that adheres to accounting standards and has established a separate accounting system, ensuring no interference from the controlling shareholder[157]. - The supervisory board consists of 3 members and held 5 meetings to review matters such as the reappointment of the auditing firm and profit distribution[149]. - The company maintains good communication with investors through various channels, including a dedicated investor hotline and interactive online events[151]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[150]. Operational Efficiency and Strategy - The company is focused on digital transformation and expanding its market presence both domestically and internationally[68]. - The company aims to enhance operational efficiency and investor returns in the future, despite not distributing dividends in the previous year[192]. - The company is committed to improving its information systems to achieve standardized management and automated production, aiming to reduce operational costs and enhance efficiency[132]. - The company has established a comprehensive internal control system to enhance operational efficiency and risk management, with no significant deficiencies reported[196][197]. - The company is actively pursuing mergers and acquisitions to enhance its market position and product offerings[115]. Employee and Management Structure - The total number of employees at the end of the reporting period is 3,670, with 323 in the parent company and 3,347 in major subsidiaries[186]. - The professional composition includes 2,275 production personnel, 189 sales personnel, 451 technical personnel, 86 financial personnel, 275 administrative personnel, and 394 others[186]. - The company encourages employee participation in professional training to improve skills and competencies, implementing both internal and external training programs[188]. - The management team is actively involved in overseeing the company's strategic direction and ensuring compliance with regulatory requirements[166]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, indicating potential market volatility[3]. - The company has established a strict risk management system for foreign exchange hedging operations, ensuring compliance with regulatory requirements[120]. - The company aims to mitigate risks from exchange rate fluctuations through its hedging activities, achieving the goal of locking in contract profits[120]. - The company is actively monitoring macroeconomic conditions and industry trends to adapt its strategies and enhance its risk management capabilities[134].