JQH(SZ:002885)2024-04-26 17:31Financial Performance - The company's operating revenue for 2023 was approximately ¥2.59 billion, representing a year-on-year increase of 0.36% compared to ¥2.58 billion in 2022[19]. - The net profit attributable to shareholders for 2023 was approximately ¥34.17 million, a significant decrease of 76.09% from ¥142.37 million in 2022[19]. - The basic earnings per share for 2023 was ¥0.127, down 77.16% from ¥0.794 in 2022[19]. - The total assets at the end of 2023 reached approximately ¥2.91 billion, an increase of 16.09% from ¥2.51 billion at the end of 2022[19]. - The net assets attributable to shareholders increased by 48.49% to approximately ¥1.41 billion in 2023, compared to ¥946.96 million in 2022[19]. - The net cash flow from operating activities for 2023 was negative at approximately -¥13.04 million, a decline of 117.53% from ¥74.39 million in 2022[19]. - The weighted average return on net assets for 2023 was 2.72%, down from 16.10% in 2022[19]. - The company recognized a total of ¥3.01 million in non-recurring gains in 2023, a significant decrease from ¥24.56 million in 2022[28]. - The company reported a negative net profit before and after deducting non-recurring gains for the last three accounting years, indicating ongoing financial challenges[22]. Revenue Breakdown - The company's total revenue for Q1 2023 was approximately ¥781.11 million, while Q2 and Q3 revenues were ¥620.11 million and ¥591.45 million, respectively, with Q4 revenue at ¥600.94 million[26]. - The electronic components segment generated CNY 2.566 billion in revenue, representing 98.93% of total revenue, with a gross margin of 12.41%[64]. - The special transformers product line saw a revenue increase of 10.71% year-on-year, totaling CNY 1.194 billion, while the gross margin decreased by 3.28% to 8.71%[65]. - The company reported a significant decrease in overseas sales, down 18.52% to CNY 712.70 million, while domestic sales increased by 10.02% to CNY 1.881 billion[66]. Investment and Financing - The company raised a total of ¥435,499,974.90 from a non-public stock issuance, with a net amount of ¥420,573,138.41 after deducting issuance costs[90]. - The company reported a total investment of ¥139,841,507.62 during the reporting period, a significant increase of 70.48% compared to the previous year's investment of ¥82,027,358.71[86]. - The company’s long-term borrowings increased to ¥82,490,000.00, representing 2.83% of total assets, due to an increase in long-term credit borrowings[82]. - The company’s financial assets increased significantly, with trading financial assets rising to ¥217,649,867.32, up from ¥2,553,539.58, primarily due to an increase in wealth management products[82]. Research and Development - The company has achieved a total of 37 invention patents, 207 utility model patents, and 53 design patents during the reporting period, showcasing its strong R&D capabilities[57]. - The company’s R&D investment increased by 32.47% year-on-year, reaching approximately CNY 134.31 million, which is 5.18% of total revenue[75]. - The number of R&D personnel rose to 484, a 7.08% increase from 2022, with a notable increase in master's degree holders by 83.33%[75]. - The company is developing high-fill-rate motor coils to meet the demand for miniaturized motors, aiming to achieve two proprietary intellectual properties[73]. Market and Industry Trends - The company is actively involved in the clean energy sector, responding to global energy transition trends accelerated by the ongoing energy crisis[32]. - The global battery shipment for energy storage reached 185 GWh in 2023, a 53% increase from 121 GWh in 2022, indicating a rapid growth in the energy storage market[37]. - In 2023, China's new energy vehicle (NEV) sales reached 9.495 million units, with a market share of 31.6%, representing a year-on-year growth of 37.9%[50]. - The NEV sector is experiencing rapid technological advancements, particularly in battery life, charging speed, and smart systems, which are crucial for future growth[49]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[112]. - The company has established a dedicated internal audit department to conduct independent audits and checks on financial and operational activities[114]. - The company maintains complete independence from its controlling shareholders in terms of business operations, assets, personnel, and finances[115]. - The company has established specialized committees within the board to provide professional opinions for decision-making[112]. Employee and Social Responsibility - The company emphasizes employee rights and offers competitive salary and benefits, including performance-based compensation and stock incentives[141]. - The company has committed to enhancing its social responsibility management system and increasing support for social welfare initiatives in 2024[178]. - The company has implemented a quality management system based on ISO9001 standards to enhance customer satisfaction and service quality[172]. - The company maintained a zero incidence of major safety accidents and fire occurrences in 2023, ensuring a safe working environment[176]. Risk Management - The company faces market risks due to cyclical fluctuations in downstream industries, which may lead to reduced orders if it fails to keep up with industry trends[102]. - Major raw material price fluctuations, particularly in copper and silicon steel, significantly impact production costs and profit margins[103]. - The company is exposed to exchange rate risks, particularly affecting its export competitiveness and potential foreign exchange losses[104]. - The company has implemented measures to mitigate the impact of raw material price volatility through customer negotiations and quality assurance[103]. Shareholder Engagement - The company has maintained a transparent and compliant cash dividend policy, ensuring the protection of minority shareholders' rights[145]. - The first temporary shareholders' meeting in 2023 had an investor participation rate of 58.08%[118]. - The company actively manages investor relations through various channels, ensuring timely and accurate information disclosure[113]. - The company has established a framework to ensure compliance with relevant laws and regulations regarding share transfers[182].