Great Shengda(SH:603687)2024-04-28 07:47Financial Performance - The company's operating revenue for 2023 was CNY 2,013,810,110.51, a decrease of 2.16% compared to CNY 2,058,257,999.23 in 2022[26]. - The net profit attributable to shareholders for 2023 was CNY 88,549,878.33, down 15.94% from CNY 105,335,669.39 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 64.66 million RMB, a decrease of 13.98% year-on-year[37]. - The total assets at the end of 2023 reached CNY 4,387,249,065.45, reflecting a growth of 27.41% from CNY 3,443,277,464.02 in 2022[26]. - The net assets attributable to shareholders increased by 58.55% to CNY 3,237,040,823.18 at the end of 2023, primarily due to the issuance of shares and convertible bonds[27]. - Basic earnings per share for 2023 were CNY 0.20, a decrease of 20% from CNY 0.25 in 2022[27]. - The weighted average return on equity for 2023 was 3.85%, down 1.45 percentage points from 5.3% in 2022[27]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.4873 per share (including tax), resulting in a total cash dividend payout of RMB 26,566,912.03, which represents a 30% cash dividend ratio for the year 2023[6]. - As of December 31, 2023, the distributable profit available for distribution is RMB 716,884,320.52[6]. - The board of directors has approved the profit distribution plan, which is subject to the approval of the annual general meeting of shareholders[7]. - The cash dividend policy requires a minimum of 10% of the distributable profit to be allocated as cash dividends annually, with higher percentages based on the company's development stage and capital expenditure plans[178]. - The company has confirmed that its cash dividend policy remains unchanged during the reporting period, aligning with its articles of association and shareholder return planning[180]. - The cash dividend distribution plan for 2023 was approved by the board on April 26, 2024, ensuring compliance with regulatory requirements[179]. Risk Management - The company has not reported any significant risks that could materially affect its operations during the reporting period[11]. - The company has not faced any substantial risks that could impact its production and operations[11]. - The company has not violated any decision-making procedures regarding external guarantees[10]. - The company emphasizes that forward-looking statements regarding its development plans and strategic goals do not constitute substantive commitments to investors[8]. - The company faces risks from fluctuations in raw material prices, particularly for paper, which constitutes approximately 70% of the cost of corrugated boxes[133]. - The expansion into new business areas, such as high-end packaging and eco-friendly tableware, may lead to management challenges if not properly addressed[134]. - Increased competition in the packaging industry, particularly in the mid-to-high-end corrugated box market, poses a risk to future profitability[136]. - The company is exposed to macroeconomic risks that could affect demand for its packaging products across various industries[137]. - The acquisition of Fornax B.V. carries a risk of goodwill impairment if the company's performance does not meet expectations[139]. - The company faces challenges in integrating the acquired Fornax B.V. business due to differences in industry focus and operational management[141]. Strategic Initiatives - The company plans to expand its market presence and enhance product development in the upcoming year[19]. - The company is focusing on new technology research and development to improve operational efficiency[19]. - Strategic mergers and acquisitions are being considered to strengthen the company's market position[19]. - The company completed the integration and relocation of its Hangzhou production base, which is expected to reduce depreciation and labor costs[38]. - The company is actively promoting investment projects to add new momentum for development[40]. - The company is expanding its business orders and forming both domestic and international sales teams to diversify sales channels, responding to market conditions[41]. - The company is focusing on digital transformation in the paper packaging industry, enhancing operational efficiency and decision-making through smart manufacturing and data analysis[43]. - The company plans to deepen its corrugated packaging business and enhance global layout, particularly in Southeast Asia and Europe, to increase market share[127]. - The company aims to strengthen product R&D focusing on green and eco-friendly packaging, aligning with market trends towards high-end, intelligent, and sustainable solutions[127]. - The company is shifting from being a mere manufacturer to a packaging solutions provider, offering comprehensive services from design to delivery[123]. Governance and Compliance - The company has established comprehensive governance structures and management systems to ensure transparency and accountability in operations[149]. - No significant legal violations or administrative penalties were reported in the past 36 months, indicating strong compliance with regulations[149]. - The company maintains independence from its controlling shareholder in operations, personnel, assets, and finances[145]. - The company has implemented measures to ensure the independence of its operations and has not engaged in significant related party transactions[150]. - The company held 5 shareholder meetings during the reporting period, ensuring compliance with legal regulations and providing online voting to protect shareholders' rights[143]. - The board of directors consists of 7 members, including 3 independent directors, and held 12 meetings, demonstrating diligence in decision-making and compliance with legal requirements[146]. - The supervisory board, comprising 3 members, conducted 11 meetings, effectively overseeing related transactions and financial conditions[147]. Research and Development - The company's R&D expenses increased by 3.67% to CNY 82.50 million, reflecting its commitment to innovation and technology development[75]. - The company has obtained a total of 57 invention patents, 97 utility model patents, 1 design patent, and 22 software copyrights as of December 31, 2023, showcasing its strong R&D capabilities[70]. - The number of R&D personnel is 222, accounting for 8.25% of the total workforce[92]. - Research and development investments increased by 12%, focusing on innovative packaging technologies[158]. Environmental and Social Responsibility - The company invested 2.0251 million RMB in environmental protection during the reporting period, demonstrating its commitment to ecological responsibility[189]. - The company has achieved ISO 14001 environmental management system certification and is participating in the "Waste-Free City" initiative in Zhejiang Province, becoming a member of the "Waste-Free Factory"[192]. - The company has reduced carbon emissions by 3,522.10 tons during the reporting period through various measures[193]. - The company has prepared and disclosed its 2023 Environmental, Social, and Governance (ESG) report, highlighting its commitment to social responsibility[193]. - Total donations for public welfare projects amounted to 1.544 million yuan, with specific contributions to various charitable initiatives[194]. - The company has actively participated in poverty alleviation and rural revitalization efforts, although specific details were not applicable[195].