国创高新(002377) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was ¥824,424,748, a decrease of 62.54% compared to ¥2,200,747,914 in 2022[18]. - The net profit attributable to shareholders for 2023 was ¥147,147,060, representing a decline of 72.76% from ¥538,543,503 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥158,775,356, down 68.97% from ¥509,946,714 in 2022[18]. - The basic and diluted earnings per share for 2023 were both -¥0.16, a 72.88% improvement from -¥0.59 in 2022[18]. - Total assets at the end of 2023 were ¥1,017,924,302, a decrease of 43.47% from ¥1,769,423,790 at the end of 2022[18]. - The net assets attributable to shareholders decreased by 12.79% to ¥527,336,842 from ¥604,671,584 in 2022[18]. - The company reported a net loss attributable to shareholders of ¥36,911,908.23 in Q1 2023, with losses continuing in subsequent quarters, totaling ¥53,938,588.88 in Q4 2023[25]. - The company reported a total impairment provision of CNY 59.47 million, including CNY 33.30 million for real estate assets and CNY 2.47 million for receivables[47]. - The company achieved operating revenue of CNY 824.42 million in 2023, a decrease of 62.54% compared to the previous year[46]. - The net profit attributable to the parent company was CNY -14.71 million, an increase of 71.48% year-on-year[46]. Business Strategy and Focus - The company has adjusted its main business focus back to the research, production, and sales of modified asphalt after divesting its real estate intermediary services in June 2023[17]. - The company aims to enhance its core competitiveness by providing comprehensive supply chain solutions and services to leading enterprises[33]. - The company plans to enhance its core competitiveness through resource integration and supply chain solutions for leading enterprises[45]. - The company is focusing on the asphalt business to strengthen technical and service capabilities, aiming to enhance supply chain service levels and deepen strategic cooperation with key clients[91]. - The company aims to stabilize its business scale in advantageous regions and maintain market leadership in those areas[91]. - The company plans to strengthen business connections with state-owned enterprises and large construction companies nationwide to increase asphalt sales and market share[91]. - The company aims to expand its business scope through the development of new technologies and materials, including high-performance asphalt and green materials[62]. Market and Industry Trends - The demand for the company's asphalt products is closely linked to national infrastructure construction, particularly for highways and road maintenance[33]. - In 2023, the apparent consumption of asphalt in China increased significantly, reaching 3,415 million tons, which is a substantial rise from 2,899 million tons in 2022, primarily due to the low base effect from 2022[36]. - The consumption of asphalt for road use in 2023 was 2,573 million tons, showing a decrease of over 100,000 tons compared to 2021[36]. - The total investment in national transportation fixed assets reached 3.9 trillion yuan in 2023, with new and upgraded highways totaling 7,000 kilometers[34]. - The growth rate of domestic road construction investment slowed down, with a year-on-year increase of only 1.2% in the first eleven months of 2023, totaling 2.6 trillion yuan[34]. - The market for road asphalt showed a declining consumption ratio month by month in 2023, with insufficient funding impacting demand[35]. - The asphalt industry is characterized by high competition and low barriers to entry, with many small-scale producers and a lack of comprehensive service capabilities[37]. Production and Operations - The company operates three asphalt production bases in Wuhan, Qinzhou, and Xinjing, with a total storage capacity of 85,000 tons, serving most regions in China[32]. - The production capacity utilization rate for modified asphalt was only 26.36%, with a designed capacity of 1,000 tons per day[41]. - The company has three production bases with a total asphalt storage capacity of 8.7 million tons and an annual processing capacity exceeding 70 million tons[44]. - The company has adjusted its production volume in response to sales performance, leading to a significant reduction in inventory levels, which decreased by 45.16% year-on-year[51]. - The production volume of asphalt decreased significantly, with a year-on-year decline of 25.10% in production and 24.75% in sales volume[51]. Research and Development - The company holds 11 authorized patents related to its core production technology, including 6 invention patents for modified asphalt production processes[41]. - The company has developed special modified asphalt products that meet various extreme temperature and UV resistance requirements, catering to diverse customer needs[41]. - R&D expenses decreased by 30.65% to ¥55,874,030.97 from ¥80,564,957.35 in 2022, mainly due to the same exclusion of Shenzhen Yunfang[61]. - R&D investment accounted for 6.78% of operating revenue, up from 3.66% in 2022, reflecting a 3.12% increase[62]. - The company established a joint technology research center with Wuhan University of Technology to enhance R&D capabilities in advanced composite materials[92]. - The company is committed to innovation and has established a national key laboratory for new material research[116]. Financial Management and Investments - The company reported a total of ¥11,628,296.33 in non-recurring gains in 2023, contrasting with a loss of ¥28,596,788.83 in 2022[28]. - The company has not reported any significant changes in accounting estimates during the reporting period[20]. - The company has confirmed that there are no discrepancies between financial reports prepared under international accounting standards and those under Chinese accounting standards[22][23]. - The company has implemented a robust internal control system for commodity futures hedging, ensuring compliance with relevant laws and regulations[82]. - The company has engaged an internal control audit firm for 300,000 RMB during the reporting period[173]. - The company has maintained effective internal controls over financial reporting as of December 31, 2023, with no significant deficiencies reported[150]. Governance and Compliance - The company emphasizes the importance of the board's role in strategic decision-making and operational oversight[91]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[102]. - The supervisory board effectively exercised its supervisory functions, maintaining the rights of the company and its shareholders[104]. - The company maintains independence in assets, personnel, finance, organization, and business from its controlling shareholders[105]. - The company has established specialized committees under the board of directors to enhance governance and decision-making processes[102]. - The company has not experienced any major litigation or arbitration matters during the reporting period[175]. Employee Management and Training - The total number of employees at the end of the reporting period is 167, with 84 in the parent company and 83 in major subsidiaries[137]. - The company has established a comprehensive compensation management system based on job value, performance indicators, and market salary levels to attract and retain talent[139]. - A total of 13 training sessions were organized throughout the year, including 9 internal and 4 external training sessions, focusing on professional knowledge and skills relevant to the company's future business expansion into new materials[140]. Environmental and Social Responsibility - The company has not been classified as a key pollutant discharge unit and has not faced any administrative penalties related to environmental issues during the reporting period[154]. - The company has actively upgraded environmental protection equipment to reduce energy consumption and improve overall supply efficiency[154]. - The company has implemented strict product quality standards and service processes to protect consumer rights and enhance customer satisfaction[157]. - The company has established a comprehensive safety management system and conducted regular safety training for employees[158].