BLEST(SH:603959)2024-04-29 13:28Financial Performance - The company's operating revenue for 2023 was ¥2,069,101,995.78, a decrease of 35.74% compared to ¥3,219,864,213.35 in 2022[23]. - The net profit attributable to shareholders of the listed company was -¥117,967,368.25, a significant decline from a profit of ¥8,588,546.43 in the previous year, representing a decrease of 1,473.54%[23]. - The revenue from core business activities, after excluding unrelated income, was ¥2,051,425,156.86, down 33.26% from ¥3,073,743,855.84 in 2022[23]. - The net profit after deducting non-recurring gains and losses was -¥255,582,240.17, compared to -¥11,153,093.01 in the previous year, marking a decrease of 2,191.58%[23]. - The basic earnings per share for 2023 was -0.24 RMB, a decrease of 1,471.43% compared to 0.02 RMB in 2022[25]. - The diluted earnings per share also stood at -0.24 RMB, reflecting a similar decline[25]. - The weighted average return on equity decreased to -19.65%, down 20.96 percentage points from 1.31% in the previous year[25]. - Total assets at the end of 2023 were 4.045 billion RMB, a decrease of 6.57% from 4.330 billion RMB at the end of 2022[24]. - The net assets attributable to shareholders decreased by 18.11% to 539.92 million RMB compared to 659.35 million RMB in 2022[24]. - The company reported cash flows from operating activities of -260.55 million RMB for the year[28]. - The company reported a significant reliance on its top five customers, which accounted for 54.20% of total sales[78]. - The company reported a year-on-year decrease of 380 million yuan in operating cash flow, indicating financial constraints[154]. Audit and Compliance - The company received a qualified audit opinion from Da Hua Certified Public Accountants, indicating potential issues with large prepayments that may affect future financial statements[4][6]. - The board of directors has acknowledged the need for a special investigation into the audit findings regarding large prepayments[4]. - The internal control audit report issued a negative opinion due to major deficiencies in financial reporting controls, particularly in contract and fund management[178]. - The company has not completed the rectification of the identified major internal control deficiencies as of December 31, 2023[178]. - The company is required to disclose reasons for not proposing a cash profit distribution plan despite having positive distributable profits[173]. - The company must communicate with shareholders, especially minority shareholders, regarding cash dividend proposals and ensure their interests are protected[171]. - The board of directors must propose any adjustments to the profit distribution policy, which requires approval from a majority of directors and two-thirds of independent directors[171]. - The company has established a relatively complete internal control system in accordance with relevant laws and regulations, aiming to enhance management efficiency and protect shareholder interests[174]. - The company is expected to strengthen control over subsidiaries to prevent operational risks and protect its interests[176]. - The company has engaged Da Hua Accounting Firm for auditing services with a fee of 750,000 RMB, and the firm has been auditing for 4 years[194]. Research and Development - The company has developed 229 patents, with 22 new patents authorized during the reporting period, focusing on advanced lithium battery materials and production technologies[44]. - The company’s R&D expenses increased by 12.40% to CNY 122,593,649.25 compared to the previous year[70]. - The company employed 450 R&D personnel, representing 33.76% of the total workforce[80]. - The company has completed the R&D of the high-nickel ternary intelligent production line (Type III), achieving new product recognition from Jiangsu Province's Ministry of Industry and Information Technology[82]. - The company has developed a new product, the IoT control platform system, which has been recognized as a high-tech product by Changzhou City, enhancing production efficiency and reducing costs[82]. - The company is in the R&D phase for the sodium battery cathode material intelligent production line, having completed key equipment design work[82]. - The company has developed a specialized testing platform for lithium battery industry quality development, receiving 6 utility model patents and 2 invention patents[82]. Market and Industry Trends - In 2023, China's new energy vehicle production and sales reached 9.587 million and 9.495 million units, respectively, marking a year-on-year growth of 35.8% and 37.9%[45]. - The market share of new energy vehicles in China reached 31.6%, with the country accounting for over 60% of global production and sales[45]. - In 2023, China's lithium-ion battery production exceeded 940 GWh, a year-on-year increase of 25%, with total industry output value surpassing 1.4 trillion yuan[47]. - The total export value of lithium batteries reached 457.4 billion yuan in 2023, reflecting a year-on-year growth of over 33%[47]. - The shipment volume of lithium iron phosphate cathode materials reached 1.65 million tons in 2023, up 48.3% year-on-year, capturing a market share of 66%[47]. - The company is focusing on the development of new materials and technologies, including initial research on solid-state batteries and perovskite materials[113]. - The company is actively enhancing the training of management and key personnel on relevant regulations and internal control systems to ensure effective execution[192]. Strategic Initiatives - The company plans not to distribute profits for the 2023 fiscal year and will not increase capital reserves into share capital[7]. - The company is considering strategic acquisitions to enhance its market position, targeting firms with complementary technologies[139]. - The company is transitioning from a project design consultancy model to a comprehensive service model, providing engineering consulting, design, and total contracting services[103]. - The company is expanding its business from established lithium battery equipment to solid-state batteries, sodium batteries, and lithium recycling equipment, leveraging technological advancements in materials[115]. - The company aims to enhance its project management capabilities by recruiting experienced professionals and focusing on internal training[114]. - The company is planning to apply for comprehensive credit lines from banks and leasing institutions, which may enhance its financial flexibility[134]. Environmental and Social Responsibility - The company has not reported any environmental violations or pollution incidents during the reporting period, maintaining a clean environmental record[180]. - The company promotes energy conservation and low-carbon practices among employees, encouraging savings in electricity and water usage[182]. - The company has not disclosed any social responsibility or ESG reports during the reporting period[183]. Governance and Management - The company held its annual shareholder meeting on May 8, 2023, to discuss various proposals including financial reports and profit distribution plans[134]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 1,276.50 million[137]. - The company has maintained a consistent remuneration structure for its independent directors and supervisors, with no reported changes in their compensation[137]. - The company has a structured approach to profit distribution, requiring board approval and consideration of independent directors' opinions[169]. - The company has established a performance-based salary system, with employee compensation linked to job performance and company profitability[163]. - The company has a cash dividend policy that emphasizes stable and continuous returns to investors[165].