XILI TECHNOLOGY(SH:688616)2024-04-26 12:44Financial Performance - The company reported a total distributable profit of RMB 278,015,755.77 as of the end of 2023[6]. - A cash dividend of RMB 3.00 per 10 shares (including tax) is proposed, amounting to a total of RMB 44,067,396.90, which represents 59.19% of the net profit attributable to shareholders of the parent company for 2023[6]. - The company's operating revenue for 2023 reached ¥565,181,951.87, representing a year-on-year increase of 4.21% compared to ¥542,342,572.11 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥74,456,846.40, which is a 17.00% increase from ¥63,638,384.89 in the previous year[22]. - The net cash flow from operating activities surged by 98.05% to ¥136,336,649.93, primarily due to improved cash collection from sales[24]. - Basic earnings per share for 2023 increased to ¥0.50, up 19.05% from ¥0.42 in 2022[24]. - The company's total assets at the end of 2023 were ¥1,007,643,716.38, a slight decrease of 0.09% from ¥1,008,595,043.29 in 2022[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 6,689.23 million RMB, up 12.32% from the previous year[78]. Research and Development - Research and development expenses accounted for 6.08% of operating revenue, an increase of 0.67 percentage points from 5.41% in 2022[24]. - The company has obtained a total of 107 patents, including 22 invention patents, 71 utility model patents, and 14 design patents, demonstrating strong technological capabilities in the energy metering sector[40]. - The company has established a multi-departmental collaborative R&D system, focusing on continuous improvement and innovation in new products and technologies[41]. - Total R&D expenditure reached ¥34,383,627.36, an increase of 17.11% compared to ¥29,360,441.11 from the previous year[60]. - The company is focusing on enhancing product efficiency and quality through various R&D projects, including the upgrade of smart electric meters[62]. - The company completed several R&D projects, including the upgrade of the 2020 version of smart electric meters, with a total investment of ¥2,500,000.00[61]. Market and Sales - The company has expanded its market presence internationally, exporting products to regions including Southeast Asia, South Asia, South America, and Africa[48]. - The company won bids totaling 349.47 million yuan in the second batch of tenders from the State Grid, a 49.28% increase from the previous year[36]. - The company achieved operating revenue of 565.18 million yuan in 2023, an increase of 4.21% compared to the previous year[37]. - The revenue from three-phase electric meters increased by 127.18%, while the cost rose by 96.47%, primarily due to increased orders from the State Grid[84]. - Domestic revenue reached 509,449,733.70 CNY, with a year-on-year increase of 12.31%, while foreign revenue fell by 42.15%[84]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance regulations[126]. - The company has established a robust internal control system to enhance risk prevention and operational standards[127]. - The total pre-tax compensation for all listed directors and supervisors amounted to 5,087,400 RMB, with no changes in shareholding for the reporting period[131]. - The company has established a comprehensive internal control governance system to protect the rights and interests of shareholders and creditors[196]. Sustainability and Social Responsibility - The company is committed to sustainable development, forming an ESG management team to oversee economic, social, and environmental actions[178]. - The company implemented a photovoltaic power generation project at its Deqing plant, utilizing 1,570.32 MWh of green electricity, saving 628.13 tons of standard coal, and reducing carbon dioxide emissions by 1,565.61 tons during the reporting period[189]. - The company has adopted carbon reduction measures, including the use of photovoltaic power generation to lower carbon emissions[188]. - The company has established a charity fund to support cancer patients and has engaged in various charitable activities[179]. - The company contributed a total of 100,000 yuan to charity in November 2023 for low-income groups in Deqing County and for other charitable projects[192]. Employee Management - The company employed a total of 470 staff, with 306 in the parent company and 164 in major subsidiaries[150]. - The workforce included 222 production personnel, 45 sales personnel, 103 technical personnel, 7 financial personnel, and 93 administrative personnel[151]. - The company has established a fair and competitive compensation policy, ensuring that cash dividends are distributed based on the company's profitability and investment plans[155][156]. - The company has a structured training management system to support employee development aligned with corporate goals[153]. Future Outlook - The company anticipates continued growth in the smart grid investment market, with expected investments exceeding 2.9 trillion RMB during the "14th Five-Year Plan" period[118]. - The company aims to strengthen its core business in electric energy metering while expanding into new energy and public energy metering markets[120]. - The company plans to enhance product development in smart meters and energy data collection terminals to meet new market standards and customer demands[121]. - The company expects a revenue guidance of 1.5 billion CNY for the next fiscal year, indicating a growth target of 25%[134].