Financial Performance - The company's operating revenue for 2023 was CNY 305,703,730.67, a decrease of 6.93% compared to CNY 328,467,157.94 in 2022[25]. - The net profit attributable to shareholders for 2023 was CNY 26,545,035.98, down 5.35% from CNY 28,044,461.06 in the previous year[25]. - Basic earnings per share decreased by 16.48% to CNY 0.3760 from CNY 0.4502 in 2022[25]. - The company reported a net profit of CNY 21,144,495.42 after deducting non-recurring gains and losses, which is a decline of 16.42% from CNY 25,299,316.68 in 2022[25]. - Total assets decreased by 5.82% to CNY 730,944,291.30 compared to CNY 776,078,892.64 at the end of 2022[27]. - Total liabilities decreased by 21.31% to CNY 225,631,271.54 from CNY 286,721,987.96 at the end of 2022[27]. - Operating cash flow increased by 188.82% to CNY 58,361,069.69 from CNY 20,207,018.51 in 2022[27]. - The company achieved a gross margin of 5.33% for the weighted average return on equity (before deductions) in 2023[29]. - The company reported a significant increase in deferred tax assets by 58.85%, amounting to ¥14,014,256.81[57]. - Other income surged by 152.07% to ¥4,926,396.30, primarily due to government subsidies related to the IPO[61]. Research and Development - The company plans to focus on the research and development of customized module products based on flexible applications[20]. - The company holds 114 patents, including 17 invention patents, indicating a strong focus on R&D[37]. - The company is actively pursuing research in high-precision PCB manufacturing technologies, including the development of Fine Pitch Subtractive technology[44]. - The company has made significant adjustments in its R&D strategy, focusing on projects such as non-invasive blood glucose detection and CCS battery system data transmission modules[86]. - The company is focusing on R&D in fine line technology, layer increase precision, and FCBGA products to meet the demands of high-end electronic products[110]. - The company has established a matrix management structure for its R&D team, focusing on customer application scenarios and technological evolution needs[182]. Market Strategy and Expansion - The company aims to expand its market presence and enhance its product offerings in the electronics manufacturing sector[20]. - The company operates under a "one core, dual engine" strategy, focusing on customized module integration services[39]. - The company is focusing on the development of flexible application customized intelligent electronic modules and printed circuit boards, with a stable business model[43]. - The company aims to enhance its market competitiveness through the development of high-density interconnect (HDI) technology and other advanced materials[90]. - The company is committed to a strategy of customized services, leveraging its resource advantages in flexible electronic modules to expand its overall business scale[109]. Risk Management - The company has no significant changes in major risks compared to the previous period[11]. - The company faces significant market competition risks, which could impact its ability to adapt to changes in downstream customer demand[114]. - The company has a stable supply of raw materials, but future price fluctuations due to macroeconomic factors could negatively impact operating performance[115]. - The company aims to reduce customer concentration by expanding its market presence and improving customer satisfaction through product quality and after-sales service[115]. - There are no significant changes in major risks during the reporting period[117]. Corporate Governance - The company has implemented a robust corporate governance structure, ensuring equal rights and protection for all shareholders[194]. - The company has established a sound mechanism for shareholder protection, allowing shareholders to fully exercise their rights[194]. - The company has not encountered any significant deficiencies in its internal management systems, including financial management and risk control, during the reporting period[192]. - The company has established specialized committees under the board, including audit, nomination, compensation and assessment, and strategy committees[199]. - The company ensures that the rights and interests of minority investors are effectively protected during decision-making processes[199]. Employee and Shareholder Information - The company has a total of 751 employees at the end of the reporting period, an increase of 47 from the beginning of the period[159]. - The employee stock ownership plan confirmed 72 employees as participants, with a total of 828,724 shares held, representing 1.1739% of the company's total share capital[128]. - The total shareholding of directors, supervisors, and senior management is 44,563,789 shares, representing 63.13% of the total shares[156]. - The company has maintained a consistent profit distribution policy, with clear standards and procedures in place[149]. - The company has not proposed any changes to its cash dividend policy, ensuring compliance with regulations[149]. Industry Trends and Outlook - The global PCB industry value decreased by 15% year-on-year in 2023, but is projected to have a compound annual growth rate of 5.4% from 2023 to 2028[52][53]. - The demand for automotive electronic PCBs is projected to reach $12.381 billion by 2027, with a CAGR of 5.7% from 2023 to 2027, driven by the increasing electronic complexity in electric vehicles[106]. - The rise of AI servers is creating new growth opportunities for the PCB market, with high-performance PCBs required for data-intensive applications[107]. - The electronic information manufacturing industry is experiencing a trend towards smart manufacturing, with production processes increasingly upgraded to intelligent technologies[176]. - The company is actively pursuing market expansion opportunities in line with national policies aimed at boosting the electronic information sector[169].
则成电子(837821) - 2023 Q4 - 年度财报