CCG(605099)2024-04-28 08:54Financial Performance - In 2023, the company's operating revenue was CNY 2,461,430,298.21, a decrease of 0.38% compared to CNY 2,470,754,977.90 in 2022[21]. - The net profit attributable to shareholders was CNY 431,224,177.34, down 3.54% from CNY 447,030,482.43 in the previous year[21]. - The net cash flow from operating activities decreased by 19.43% to CNY 407,635,461.09 from CNY 505,917,225.09 in 2022[21]. - The total assets increased by 10.23% to CNY 3,120,099,828.57 compared to CNY 2,830,442,739.18 at the end of 2022[21]. - The basic earnings per share decreased by 3.57% to CNY 1.08 from CNY 1.12 in 2022[22]. - The weighted average return on equity decreased to 18.32%, down 2.69 percentage points from 21.01% in 2022[22]. - The company achieved an annual revenue of 2,461.43 million yuan, with a net profit attributable to shareholders of 431.22 million yuan, and a net cash inflow from operating activities of 407.64 million yuan[31]. - The company reported a quarterly revenue of CNY 711,446,813.57 in Q2 2023, which was the highest among the four quarters[24]. - The net profit attributable to shareholders in Q3 2023 was CNY 125,834,647.23, showing a decline compared to Q2 2023[24]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 5.40 per 10 shares to all shareholders, based on a total distributable profit of RMB 794,136,780.54 as of December 31, 2023[4]. - The cash dividend for the 2022 fiscal year was 5.60 CNY per 10 shares, amounting to a total distribution of 224,954,000 CNY[135]. - The proposed cash dividend for 2023 is 5.40 CNY per 10 shares (including tax), totaling 216,048,600.00 CNY based on a total share capital of 400,090,000 shares[136]. - The cash dividend distribution plan must be approved at the 2023 annual general meeting[136]. - The company maintains a minimum cash dividend ratio of 20% during profit distribution when significant capital expenditures are planned[132]. Market Presence and Sales - The total sales of artificial turf products reached 72.58 million square meters, representing a year-on-year growth of 12.21%[32]. - International market sales accounted for 88.23% of total revenue, with a slight year-on-year increase of 0.02%, primarily driven by a 14.99% increase in sales volume of leisure grass products[33]. - Domestic market sales decreased by 3.29% year-on-year, mainly due to delays in the construction of sports facilities caused by tight local government finances[33]. - The company has established multiple wholly-owned subsidiaries in Vietnam, Mexico, and other regions to enhance its market presence[12]. - The company has a total production capacity of 146 million square meters of artificial turf after the completion of its production bases in China and Vietnam, with specific capacities of 16 million, 40 million, 24 million, and 30 million square meters respectively[42]. Research and Development - The research and development team consists of 296 personnel, with 64 authorized patents, including 25 invention patents[51]. - The company launched over 200 new products and obtained 4 new invention patents related to artificial turf technology during the reporting period[34]. - Research and development expenses totaled 83.04 million CNY, representing 3.37% of total revenue, indicating a focus on innovation[67]. - The company emphasizes the importance of continuous R&D to maintain competitive advantage in the artificial turf market[94]. Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[3]. - The company has implemented strict governance measures to ensure compliance with laws and regulations, enhancing its operational transparency and investor relations[99]. - The company confirmed that all directors attended the board meeting, ensuring accountability for the annual report's accuracy[9]. - The company has established a clear policy for the remuneration of internal directors and supervisors based on their specific management roles and performance evaluations[111]. Environmental Responsibility - The company invested 398.90 million yuan in environmental protection during the reporting period[147]. - The company established a photovoltaic project that generated 7.847 million kWh of electricity in 2023, reducing carbon dioxide emissions by 5,420.90 tons[148]. - The company has committed to maintaining effective financial reporting internal controls in all significant aspects[144]. - The company is focused on green development and aims to become an environmentally friendly and resource-saving enterprise[147]. Risks and Challenges - The company faces risks from intensified market competition and potential slowdowns in market demand due to various economic factors[93]. - The company’s reliance on raw materials such as plastic particles and glue makes it vulnerable to fluctuations in oil prices, which directly impact production costs[95]. - The company faces risks related to international political and economic environments affecting its export business, particularly in the Asia-Pacific region, which accounted for 93.25% of global exports in 2021[94]. Shareholder Information - The largest shareholder, Wang Qiangxiang, holds 219,517,200 shares, accounting for 54.87% of the total shares[191]. - The number of ordinary shareholders increased to 10,984 by the end of the reporting period, up from 9,298 at the end of the previous month[189]. - The company has no preferred shareholders with restored voting rights as of the reporting date[190]. - The company has not issued any new securities during the reporting period[188].