GDM(SZ:002636)2024-04-28 07:41Financial Performance - The company's operating revenue for 2023 was CNY 3,571,219,216.90, a decrease of 5.03% compared to CNY 3,760,398,832.95 in 2022[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 78,812,758.92, representing a decline of 190.48% from a profit of CNY 87,104,844.90 in the previous year[18]. - The net cash flow from operating activities decreased by 40.58% to CNY 270,779,032.20, down from CNY 455,725,256.93 in 2022[18]. - The basic earnings per share for 2023 was -CNY 0.108, compared to CNY 0.120 in 2022, marking a 190.00% decline[18]. - Total assets at the end of 2023 were CNY 6,152,580,187.34, a decrease of 1.46% from CNY 6,243,561,878.93 at the end of 2022[18]. - The net assets attributable to shareholders of the listed company decreased by 3.99% to CNY 3,379,375,933.50 from CNY 3,519,895,567.23 in 2022[18]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of CNY 110,067,543.70 compared to a profit of CNY 7,246,371.77 in 2022, a decrease of 1,618.93%[18]. - The weighted average return on net assets was -2.28% in 2023, down from 2.44% in 2022, reflecting a decline of 4.72%[18]. - The company reported a net profit of CNY 45,004,263.15 for 2023, with a distributable profit of CNY 1,708,270,040.98 at year-end[108]. Revenue and Sales - In Q1 2023, the company's operating revenue was approximately CNY 851.56 million, increasing to CNY 930.79 million in Q4 2023, representing a growth of 9.3% from Q1 to Q4[23]. - The net profit attributable to shareholders showed a significant decline, from CNY 17.64 million in Q1 to a loss of CNY 81.97 million in Q4, indicating a negative trend in profitability[23]. - The company achieved operating revenue of CNY 357,121,920, a decrease of 5.03% compared to the same period last year[32]. - The main business segment of copper-clad laminates produced 46.25 million sheets, an increase of 24.78% year-on-year, while sales reached 45.33 million sheets, up 23.08% year-on-year[32]. - The medical health segment reported operating revenue of CNY 33,895,960, reflecting a growth of 15.47% year-on-year[33]. - The PCB segment experienced a decline in revenue to CNY 12,625,270, down 28.03% year-on-year due to weak demand and increased competition[33]. - The revenue from the electronic components manufacturing industry was CNY 3,232,271,715, accounting for 90.51% of total revenue, with a decrease of 6.76% year-on-year[39]. - Domestic sales accounted for 94.30% of total revenue, amounting to CNY 3,367,502,448, a decrease of 4.08% year-on-year[40]. Costs and Expenses - The main business cost of electronic components manufacturing decreased by 3.33% year-on-year, amounting to ¥3,051,791,386.98 in 2023[44]. - The main business cost of medical device manufacturing surged by 69.35% year-on-year, reaching ¥37,198,587.83 in 2023[45]. - Total operating costs for 2023 were CNY 3,657,206,799.81, down from CNY 3,734,656,067.13 in 2022, reflecting a reduction of 2.07%[200]. - Research and development expenses for 2023 were CNY 161,399,825.77, down from CNY 173,426,736.88 in 2022, a reduction of 6.93%[200]. Investments and R&D - The company holds 81 invention patents and 216 utility model patents, enhancing its core technology and innovation capabilities[36]. - The number of R&D personnel increased by 3.32% year-on-year, reaching 498 in 2023[49]. - The company plans to increase production capacity utilization at the Ningguo Jin'an new plant, targeting full-load operation to reduce costs and improve efficiency[72]. - The company will continue to invest in research and development to innovate and enhance the competitiveness of its copper-clad laminate products[72]. Corporate Governance and Management - The company has established a basic performance evaluation system linking compensation to operational goals and compliance with responsibilities for directors and senior management[79]. - The annual shareholders' meeting had a participation rate of 67.62% and approved all meeting proposals on May 30, 2023[83]. - The company experienced a change in its board, with two resignations: Zhu Chenggang due to retirement and Sun Wei for personal reasons, both effective April 27, 2023[86]. - The current board consists of 9 members, with diverse professional backgrounds including finance, law, and engineering[89][90]. - The company has a strong emphasis on corporate governance, with independent directors holding significant experience in finance and law[90]. - The company is focused on maintaining a stable leadership structure to support its strategic goals[87]. - The total remuneration for directors, supervisors, and senior management in the reporting period amounted to CNY 4.206 million[97]. Environmental Compliance - The company strictly complies with national environmental laws and regulations, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[118]. - The total emissions of nitrogen oxides from Zhuhai Guoji reached 3.287 tons, while the annual limit is 4.85 tons, indicating compliance with emission standards[118]. - The company has implemented effective wastewater treatment systems, achieving compliance with discharge standards for various pollutants, including COD and ammonia nitrogen[120]. - The company has maintained valid pollutant discharge permits for all subsidiaries, ensuring legal compliance in operations[118]. - The company has reported no instances of exceeding pollutant discharge limits across various categories, demonstrating effective environmental management practices[119]. Future Outlook and Challenges - The company anticipates challenges in 2024 due to insufficient global economic recovery and high inflation, which may impact demand and inventory levels[71]. - The electronic industry is expected to experience stable growth in the long term, supported by national policies favoring integrated circuits[71]. - The company faces risks from market competition, with high inventory levels and weak demand likely to impact global economic conditions, leading to intense price competition in the copper-clad laminate market[74]. - The company is addressing raw material price volatility risks by leveraging group supply chain management advantages and implementing reasonable procurement strategies[74]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 41,559, with a total of 45,812 shareholders at the end of January[167]. - Shanghai Donglin Investment Development Co., Ltd. holds 39.83% of shares, totaling 289,926,000 shares, with no change during the reporting period[168]. - The company has not reported any changes in the actual controller's ownership or control relationships during the reporting period[171]. - The company did not conduct any repurchase transactions during the reporting period[169]. Audit and Internal Controls - The audit report issued by the auditing firm provided a standard unqualified opinion, confirming that the financial statements fairly reflect the financial position and operating results of Jin'an Guoji as of December 31, 2023[181]. - The company has implemented internal controls related to revenue recognition to mitigate the risk of management manipulating revenue recognition timing[183]. - The audit identified key audit matters, including revenue recognition and the impairment of accounts receivable, which are critical for the financial statements[183][185]. - The internal control system has been continuously improved and optimized to adapt to changing external environments and internal management requirements, with no significant deficiencies identified in financial reporting controls[110].