BESTWAY(SZ:300008)2024-04-28 08:25Financial Performance - The company's operating revenue for 2023 was CNY 3,606,454,146.82, representing a 32.13% increase compared to CNY 2,729,514,252.76 in 2022[30]. - The net profit attributable to shareholders decreased by 26.62% to CNY 101,574,444.58 from CNY 138,415,640.95 in the previous year[30]. - The cash flow from operating activities showed a significant decline of 62.07%, amounting to CNY 130,118,518.21 compared to CNY 343,004,740.47 in 2022[30]. - Basic earnings per share fell by 26.59% to CNY 0.0588 from CNY 0.0801 in 2022[30]. - Total assets increased by 13.49% to CNY 4,336,604,234.33 at the end of 2023, up from CNY 3,821,042,830.28 at the end of 2022[30]. - The net assets attributable to shareholders rose by 8.87% to CNY 1,931,115,281.26 from CNY 1,773,749,752.74 in the previous year[30]. - The company's revenue for the reporting period reached 360,645.41 million yuan, representing a year-on-year increase of 32.13%[54]. - The net profit attributable to shareholders decreased by 26.62% year-on-year, amounting to 10,157.44 million yuan[54]. - The shipbuilding engineering design and construction contracting business generated CNY 325,872.25 million in revenue, up 35.91% year-on-year, accounting for 90% of total revenue[95]. - The defense equipment and products business saw revenue of CNY 6,737.29 million, an increase of 18.86% year-on-year[95]. - The energy business revenue decreased by 46.99% to CNY 7,026.18 million, while its gross margin improved[95][100]. Market Position and Strategy - The company reported a significant increase in its market share, with all three major indicators of shipbuilding exceeding 50%, maintaining its position as the world's largest shipbuilding nation for 14 consecutive years[4]. - The company is actively expanding its marine engineering business to increase orders and is pursuing industrial upgrades and technological innovations to enhance management capabilities[4]. - The company has three main business segments: marine engineering, defense equipment, and energy, and it is increasing R&D and marketing efforts to maintain stable growth amid external pressures[10]. - The company is focusing on the development of new technologies and products, particularly in the defense sector, to meet emerging national defense needs[99]. - The company is committed to the "dual carbon" strategy, focusing on green and low-carbon energy transformation in the shipping industry[44]. - The company is involved in the national "Green Development Action Plan for Shipbuilding Industry (2024-2030)", aiming to establish a green development system by 2030[50]. - The company plans to expand its operations in offshore wind power and renewable energy sectors, aligning with national energy policies[52]. - The company aims to optimize production processes and enhance cost control through technological upgrades and smart transformations, leveraging its full industry chain layout to improve profitability[157]. Research and Development - The company holds 108 national patents, including 14 invention patents and 19 defense invention patents, showcasing its strong R&D capabilities[47]. - The company is actively involved in research and development collaborations with several institutions, including China Classification Society and Wuhan University of Technology[55]. - The number of R&D personnel increased to 257, a rise of 17.89% compared to 218 in 2022[125]. - R&D investment amounted to ¥39,459,549.18, representing 1.09% of operating revenue, down from 1.41% in 2022[125]. - The company is committed to advancing its research and development capabilities to meet the growing market demand for green and intelligent products[121]. - The company has completed the design of a new generation of green and efficient small bulk carriers, aiming to enhance energy efficiency and meet international standards[121]. - The company is focusing on the development of underwater operation robots and monitoring platforms to improve the safety and operational efficiency of vessels[123]. - The company has achieved a cost savings of over 4 million by optimizing the construction process for offshore wind power installation platforms, enhancing efficiency in project execution[123]. Risk Management - The company faces foreign exchange risks primarily from export ship orders denominated in USD and EUR, and it plans to implement hedging strategies to mitigate these risks[5][7]. - The company is strengthening credit investigations of shipowners and enhancing contract management to address potential customer default risks due to macroeconomic uncertainties[8]. - The company has established a comprehensive foreign exchange hedging policy to mitigate risks associated with currency fluctuations[143]. - The company’s financial department continuously monitors market information to adjust hedging strategies and minimize currency exchange losses[143]. - The company has outlined specific measures to prevent legal risks associated with financial contracts with institutions[143]. Corporate Governance - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, ensuring equal treatment of all shareholders[173]. - The company has established a performance evaluation and incentive mechanism for directors and senior management, linking their compensation directly to the company's operating performance[179]. - The company maintains complete independence from its controlling shareholder in terms of assets, personnel, finance, organization, and business operations[184]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[175]. - The company emphasizes transparency in information disclosure, adhering to relevant laws and regulations, and ensuring timely and accurate communication with investors[181]. Future Outlook - The company has set a revenue guidance of 700 million yuan for the next fiscal year, indicating a projected growth of approximately 14.75%[136]. - Future outlook includes a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[190]. - The company plans to enhance its R&D budget by 25% in the upcoming year to support innovation[135]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2025[136]. - The company plans to enter the European market by the end of 2024, with an estimated investment of 300 million RMB[200].