Intretech(SZ:002925)2024-04-26 15:28Financial Performance - The company's total revenue for 2023 was approximately ¥3.86 billion, a decrease of 11.16% compared to ¥4.35 billion in 2022[8]. - Revenue from the electronic manufacturing sector was ¥3.75 billion, accounting for 97.07% of total revenue, with a year-on-year decline of 11.82%[8]. - The automotive electronics segment saw a revenue increase of 42.82%, reaching ¥514.32 million, compared to ¥360.11 million in the previous year[8]. - Domestic revenue increased by 37.82% to ¥843.01 million, while overseas revenue decreased by 19.19% to ¥3.02 billion[10]. - The gross margin for the electronic manufacturing sector was 29.86%, with a slight increase of 0.19% year-on-year despite a revenue decline[10]. - The total sales amount from the top five customers reached ¥1,873,051,304.41, representing 48.52% of the annual total sales[37]. - The total procurement amount from the top five suppliers was ¥221,789,348.47, accounting for 10.76% of the annual total procurement[37]. Investment and Acquisitions - The company plans to acquire an additional 5 shares of Inov3 Sàrl in 2024, with a purchase price of CHF 180,839.15, increasing its ownership from 87.73% to 90.00%[18]. - The company has added several subsidiaries in 2023, including Shanghai Hengjing Connector Co., Ltd. and Inov3 Sàrl, expanding its operational footprint[25]. - The company approved an investment of up to $50 million to establish a manufacturing base in Mexico, primarily for land acquisition, new factory construction, and equipment purchase[118]. - The company invested 2.925 million RMB in JinTu Computing Technology (Shenzhen) Co., holding a 19.5% stake post-investment[156]. - The company’s subsidiary in Malaysia increased its investment in Mdesign Solutions PTE. LTD. by 1 million Singapore Dollars, acquiring a 15.0021% stake[157]. Research and Development - The company is focusing on the development of smart home technology, including multiple models of central control smart screens and high-performance processing products, aiming to enhance device connectivity and interoperability[41]. - The company is developing innovative products in smart health and medical sectors, focusing on high-precision small flow control devices and wearable monitoring equipment, aiming to enhance diagnostic accuracy for sleep quality and attention tests[43]. - The company's R&D personnel increased to 1,368 in 2023, a growth of 4.43% compared to 1,310 in 2022[45]. - R&D investment amounted to ¥361,840,469.93 in 2023, a decrease of 2.92% from ¥372,736,085.13 in 2022, while the R&D investment as a percentage of operating revenue rose to 9.37% from 8.58%[45]. - The company is developing air and water purification technologies to enhance product functionality and efficiency, aiming to improve design capabilities for specific home environments[45]. Operational Efficiency - The company focused on digital transformation and lean manufacturing, aiming to enhance operational efficiency and reduce costs[2]. - Management expenses decreased by 7.18% to ¥182,307,309.63 in 2023, mainly due to the reversal of previously accrued stock payment expenses[40]. - The company reported a significant reduction in financial expenses by 80.52% to -¥24,701,953.75, primarily due to reduced foreign exchange losses[40]. - The company plans to enhance its smart manufacturing capabilities through automation and digitalization initiatives[45]. Market Trends and Strategies - The company aims to deepen its UDM smart manufacturing business and enhance its international market presence, focusing on high-end product markets and global supply chain integration[131]. - The company plans to strengthen its automotive electronics business, focusing on six key areas including vehicle safety and intelligent cockpit systems, while expanding its international footprint[134]. - The company is actively pursuing domestic market expansion, aiming to increase the proportion of domestic sales revenue[140]. - The company emphasizes the importance of maintaining stable relationships with core customers to mitigate sales risks[141]. - The company is addressing potential risks related to export markets by closely monitoring political and economic conditions[140]. Shareholder Returns - The company implemented a share repurchase plan, buying back 4.58 million shares for approximately ¥70 million, reflecting confidence in future growth[6]. - The company plans to distribute cash dividends of RMB 618.28 million to shareholders, with a payout of RMB 8.00 per 10 shares[111]. - The company decided to repurchase and cancel 2,026,054 shares of restricted stock due to unmet performance targets for 2022, with a total repurchase amount of ¥25,800,231.04[112]. Risks and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[20]. - There were no violations regarding external guarantees during the reporting period[21]. - The company has not experienced any significant litigation or arbitration matters during the reporting period[54]. - The company has maintained a good integrity status with no significant debts or court judgments pending[57]. Future Outlook - The company plans to invest in a manufacturing base in Mexico to accelerate its internationalization efforts in the automotive electronics sector[135]. - The company aims to enhance its "Four Modernizations" initiative, focusing on overseas manufacturing bases and industrial internet construction[137]. - The automotive electronics business of the company is expected to benefit from the industry's growth, indicating a positive market outlook[200].