TES(SZ:003019)2024-04-28 07:55Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2023, reflecting a year-on-year growth of 15%[17]. - The company's operating revenue for 2023 was ¥1,336,824,505.04, a decrease of 26.22% compared to ¥1,811,921,938.10 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥178,196,620.61, down 31.67% from ¥260,770,257.11 in 2022[22]. - The net profit after deducting non-recurring gains and losses was ¥140,133,340.58, a decline of 44.08% from ¥250,610,653.16 in 2022[22]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[17]. - The company reported a significant decline in net profit due to market conditions and increased competition in the smart terminal sector[31]. - The company achieved a net profit attributable to shareholders of 178,196,620.61 CNY for the fiscal year 2023[173]. Market Expansion and Strategy - The company aims to expand its market presence in Southeast Asia, targeting a 20% increase in market share by the end of 2024[17]. - The company anticipates a revenue growth of 10% to 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[17]. - The company is actively expanding its domestic market presence to mitigate risks associated with foreign sales and currency fluctuations[114]. - The company will focus on a "customer re-growth" strategy to optimize customer structure and increase market penetration in North America[110]. - The company plans to continue expanding its market presence and investing in new product development and technology[157]. Research and Development - The company is investing 100 million RMB in R&D for new product development, focusing on advanced touch technology solutions[17]. - The R&D budget has been increased by H%, focusing on next-generation products and technologies[148]. - The company plans to enhance its R&D capabilities by investing in new research buildings and laboratories, aiming to provide more competitive products and solutions[110]. - The company has implemented a salary policy that aligns employee income levels with company performance and work objectives, ensuring fairness and competitiveness[166]. Acquisitions and Investments - The company has successfully completed the acquisition of a local competitor, which is expected to enhance its production capacity by 30%[17]. - The company completed a 30% stake investment in Ruixin Technology in February 2023, focusing on mainboard design and IoT products, leading to new product launches[58]. - The company announced the acquisition of a 60% stake in Hongtong Technology for CNY 180.10 million, expanding its business into the automotive smart cockpit sector[58]. - The company plans to allocate RMB 180.10 million from the "Intelligent Interactive Display Device Automation Production Base Construction Project" to acquire 60% equity of Hongtong Technology, increasing its total ownership to 70%[104]. Risk Management - The company has identified potential risks in supply chain disruptions and is implementing strategies to mitigate these risks[4]. - The company faces risks related to fluctuations in the prices of key raw materials, which significantly impact product costs and gross margins[117]. - The company is implementing measures to ensure the rationality of raw material supply and pricing through long-term procurement agreements and strategic partnerships[117]. Governance and Compliance - The company has established a robust internal control system and governance structure, complying with relevant laws and regulations, enhancing operational transparency[122]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with legal requirements and effective decision-making[124]. - The company has maintained effective financial reporting internal controls as of December 31, 2023, with no significant deficiencies reported[195]. - The company has a structured governance framework in place to protect the rights and interests of all shareholders, particularly minority shareholders[200]. Environmental Responsibility - The company has actively engaged in environmental protection and sustainable development, adhering to various environmental laws and regulations without any administrative penalties during the reporting period[197]. - The company has implemented energy-saving and carbon reduction strategies, contributing to its commitment to environmental responsibility[198]. - The company has received multiple EU Energy Efficiency certifications for its energy-saving products, reflecting its commitment to reducing carbon emissions[197]. Shareholder Returns - The company plans to distribute a cash dividend of 4.50 RMB per 10 shares and issue 0.50 bonus shares for every 10 shares held, based on a total share capital of 159,834,965 shares as of April 26, 2024[5]. - The total distributable profit for the company is 461,816,390.86 CNY, with the cash dividend amounting to 90% of the total profit distribution[170]. - The company has a significant capital expenditure plan and aims for a minimum cash dividend ratio of 20% during profit distribution[172].