Langdi Group(SH:603726)2024-04-29 08:17Dividend Distribution - The proposed cash dividend distribution is 4.00 RMB per 10 shares, totaling 73,515,720.00 RMB, which accounts for 67.11% of the net profit attributable to shareholders for 2023[6]. - The company distributed cash dividends of 0.35 yuan per share (including tax) in 2023, totaling 64,977,920 yuan, with cumulative cash dividends reaching 439 million yuan since its listing in 2016[36]. - The company plans to submit the 2023 annual profit distribution proposal for approval at the annual shareholders' meeting[7]. Financial Performance - In 2023, the company achieved operating revenue of CNY 1.63 billion, a decrease of 3.23% compared to 2022[23]. - The net profit attributable to shareholders was CNY 109.55 million, an increase of 19.85% year-on-year[23]. - The basic earnings per share rose to CNY 0.59, reflecting a growth of 20.41% compared to the previous year[24]. - The company’s total assets reached CNY 2.24 billion, up 4.73% from the end of 2022[23]. - The net cash flow from operating activities increased by 33.31% to CNY 163.81 million[23]. Production and R&D - The household air conditioning blade segment's production increased by 11.09% to 101.11 million units[33]. - The composite materials segment's production grew by 7.49% to 14,506.23 tons[33]. - The company invested CNY 85.24 million in R&D, accounting for 5.23% of its operating revenue[33]. - The company obtained 11 new invention patents and 50 utility model patents during the reporting period[33]. Market and Customer Base - The domestic air conditioning market saw a total sales volume exceeding 170 million units in 2023, representing a year-on-year growth of 11.2%[37]. - The central air conditioning market achieved a year-on-year growth of 11.1% in 2023, with domestic sales amounting to 126.31 billion yuan, up 9.8%[38]. - The company has a strong customer base, including major brands like Gree, Midea, and Haier, which supports its market position[48]. Risk Management - The company has detailed potential risks in the report, urging investors to pay attention to investment risks[10]. - The company faces risks related to seasonal demand fluctuations for air conditioning fan blades, which could lead to higher inventory levels[83]. - The company is exposed to raw material cost fluctuation risks, as the prices of key raw materials are linked to oil market prices, which have shown volatility in recent years[84]. - High accounts receivable balances pose a risk, as deteriorating customer financial conditions could increase the likelihood of bad debts, adversely affecting operations[84]. Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company has not faced any issues with more than half of the directors being unable to ensure the authenticity of the annual report[10]. - The company has established a dedicated internal audit department to enhance internal control processes and ensure compliance with regulations[89]. - The company has not reported any incidents of insider trading during the reporting period, maintaining transparency and compliance with disclosure regulations[88]. Shareholder and Board Activities - The company held two shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations[86]. - The board of directors convened 6 meetings, with a successful board re-election completed in March 2023, consisting of 9 members including 3 independent directors[87]. - The company has a diverse board with members holding various professional qualifications, including economic and engineering titles[94]. - The total pre-tax compensation for the board members amounted to 566.56 million CNY[93]. Environmental and Social Responsibility - The company invested approximately 3.36 million CNY in environmental protection during the reporting period[130]. - The company generated about 5.75 million KWH of solar power, resulting in a reduction of approximately 3,279.80 tons of CO2 emissions[135]. - The company made charitable donations totaling 492,700 CNY, benefiting 591 individuals[137]. - The company is focused on creating a resource-saving and environmentally friendly enterprise while pursuing economic benefits[134]. Internal Controls and Financial Management - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[129]. - The company has not reported any major internal control deficiencies, ensuring effective financial reporting[126]. - The company’s management is responsible for assessing the company's ability to continue as a going concern and must disclose any relevant matters related to this assessment[175]. Investment and Capital Management - The company holds a stake of 8 million yuan (5.95%) in Ningbo Yanchuang Dexin Venture Capital Partnership, with the fund's total size being 1.34555 billion yuan and an investment of 1.32 billion yuan in Changxin Technology Group[35]. - The company plans to apply for a comprehensive credit limit from banks for the 2023-2024 period[104]. - The company is participating in the establishment of a private equity investment fund[104].