ZUOJIANG TECH.(SZ:300799)2024-04-28 07:04Financial Performance - The audited net profit for 2023 was negative, and the operating revenue was below 100 million RMB[4]. - The company's operating revenue for 2023 was ¥53,251,594.47, a decrease of 9.68% compared to ¥58,961,190.96 in 2022[21]. - The net profit attributable to shareholders was -¥219,857,046.51, representing a decline of 49.67% from -¥146,898,503.80 in the previous year[21]. - The net cash flow from operating activities was -¥243,840,010.17, a decrease of 33.97% compared to -¥182,007,557.84 in 2022[21]. - The total assets at the end of 2023 were ¥703,018,619.21, down 7.17% from ¥757,329,228.75 at the end of 2022[21]. - The net assets attributable to shareholders decreased by 28.56% to ¥453,775,439.02 from ¥635,172,309.58 in 2022[21]. - The company is facing delisting risks due to negative net profit and operating revenue below 100 million yuan, as per stock listing rules[68]. - The company will not distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. Audit and Compliance - The company has received a non-standard audit opinion from its accounting firm, which may lead to delisting risks[5]. - The stock has been subject to delisting risk warnings since May 4, 2023, due to financial performance issues[3]. - The financial report has been confirmed as true, accurate, and complete by the management team[3]. - The company is currently listed under the special treatment category due to its financial status[17]. Research and Development - In 2023, the company's R&D investment reached ¥137,291,048.89, representing 257.82% of its operating revenue, a significant increase from 217.46% in 2022[36]. - The company successfully developed and mass-produced the first domestically controllable high-performance programmable network data processing chip, with ongoing progress on the next generation of chips[36]. - The R&D investment has increased significantly over the past three years, from ¥63,722,618.60 in 2021 to ¥137,291,048.89 in 2023[36]. - The company focuses on R&D and application of information security technologies, achieving multiple patent certifications and maintaining a leading position in the national cybersecurity field[42]. - The company has established a fully autonomous closed-loop industrial chain from design to production delivery, enhancing resource integration and production management efficiency[44]. Market and Product Development - The company aims to enhance its technical barriers and accelerate the development of new products to create new profit growth points, focusing on high-quality self-reliance and sustainable development[36]. - The company is actively expanding its market presence and strengthening business cooperation across multiple fields[36]. - The company is expanding its user base to reduce order volatility risks associated with customer procurement policies[126]. - The company plans to strengthen its market position in the network security industry and enhance its market share in 2024[118]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[137]. - The supervisory board has 3 members, including 1 employee representative, ensuring compliance with relevant laws and regulations[138]. - The company respects and protects the legitimate rights and interests of stakeholders, promoting sustainable and healthy development[139]. - The performance evaluation and incentive mechanism for directors and senior management is transparent and gradually improved, aligning with the company's development[140]. - The company has implemented stock buyback plans as part of its incentive strategy for senior management, with 3,000 shares repurchased for several executives[152]. Financial Management and Fundraising - The company raised a total of RMB 365,160,000 from the issuance of 17,000,000 shares at a price of RMB 21.48 per share, with a net amount of RMB 319,152,676 after deducting fees[104]. - The company has confirmed that the total investment in the "Research and Development Center and Experimental Center Project" is RMB 32,145,000, with RMB 1,084,600 invested in the current year[108]. - The company has not reported any issues regarding the expected benefits from the fundraising projects[108]. - The company’s fundraising efforts have been verified by Lixin Certified Public Accountants, ensuring the accuracy of the reported figures[104]. Employee and Talent Management - The total number of employees at the end of the reporting period was 395, with 288 being technical personnel, representing approximately 73% of the workforce[181]. - The company faces risks related to talent management and rising labor costs, and plans to enhance its incentive systems and performance evaluations to retain talent[124]. - The company reported a significant increase in the number of master's degree holders among R&D personnel, rising by 144.64% to 137 in 2023[87]. Customer and Market Relations - The company is actively expanding its customer base and developing new products to adapt to changing market conditions[68]. - The top five customers accounted for 72.24% of the total annual sales, with the largest customer contributing 33.42%[84]. - The company has established a quality management system to meet high product quality standards required by national units, ensuring compliance and customer satisfaction[122].