Financial Performance - For the fiscal year ending December 31, 2023, the company's total sales revenue was approximately RMB 1,942,475,000, representing a 10.0% increase compared to RMB 1,765,736,000 for the previous year[8]. - The company's gross profit for the fiscal year was approximately RMB 239,843,000, an increase of about 18.1% from RMB 203,041,000 in the previous year[10]. - The average gross profit margin improved from 11.5% to approximately 12.3% due to effective cost control measures[11]. - The company’s net profit attributable to shareholders was approximately RMB 79,096,000, a significant increase of about 42.9% from RMB 55,355,000 in the previous year[13]. - Revenue for 2023 reached RMB 1,942,475,000, an increase of 10.0% compared to RMB 1,765,736,000 in 2022[33]. - Gross profit for 2023 was RMB 239,843,000, representing a gross margin of 12.3%, up from RMB 203,041,000 in 2022[33]. - Pre-tax profit increased to RMB 84,953,000 in 2023, a rise of 53.0% from RMB 55,561,000 in 2022[33]. - Net profit for the year was RMB 81,082,000, up 44.1% from RMB 56,265,000 in the previous year[33]. - Total assets grew to RMB 2,583,779,000 in 2023, compared to RMB 2,321,997,000 in 2022, marking an increase of 11.3%[33]. - Total liabilities increased to RMB 1,687,257,000 in 2023, up from RMB 1,497,884,000 in 2022, reflecting a growth of 12.7%[33]. Operational Developments - Research and development expenses for the year were approximately RMB 88,201,000, up from RMB 81,372,000 in the previous year, indicating a continued focus on technological advancement[7]. - The company established wholly-owned subsidiaries in Mexico and Serbia, which began operations during the year to serve the Americas and European markets[7]. - The group plans to expand its business in Mexico and Serbia to meet customer demands in the automotive industry[24]. - The group is investing in automation and has developed ERP and MES systems to improve operational efficiency and product quality[23]. - The management aims to enhance product quality and expand the customer base by leveraging expertise in the mold and plastic parts production industry[22]. Employee and Compensation - The company employed approximately 3,186 staff members, an increase from about 2,950 in the previous year, with total employee compensation costs around RMB 257,523,000[16]. - The company reported a total of 3,186 employees with a total employee compensation cost of approximately RMB 233,825,000[43]. Financial Position and Equity - Total equity as of December 31, 2023, was approximately RMB 896,522,000, compared to RMB 824,113,000 in the previous year[13]. - The company's leverage ratio as of December 31, 2023, was 26.8%, a slight decrease from 27.8% in the previous year[13]. - The group has pledged property, plant, and equipment with a carrying value of approximately RMB 99,059,000 for other borrowings, which increased from RMB 51,983,000 in 2022[17]. Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[60]. - The company has adopted a code of conduct for directors regarding securities trading, compliant with the standards set out in the listing rules[59]. - The company has committed to high standards of corporate governance, adhering to the relevant provisions of the Hong Kong Stock Exchange's corporate governance code[67]. - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors, ensuring a diverse governance structure[69]. - The company has established a clear reporting structure, with the general manager responsible for executing strategies and daily operations[69]. Risk Management - The group faces risks related to maintaining growth rates and retaining core talent, with strategies in place to mitigate these risks[26]. - The company has implemented measures to protect its reputation and prevent any actions that could harm its business relationships[65]. Cash Flow and Financing - The net cash generated from operating activities for the year ended December 31, 2023, was RMB 340,469,000, compared to RMB 98,771,000 in 2022, indicating a significant increase of approximately 244.5%[146]. - The net cash used in investing activities for the year ended December 31, 2023, was RMB 377,249,000, an increase from RMB 313,611,000 in 2022, representing a rise of about 20.3%[148]. - The net cash generated from financing activities for the year ended December 31, 2023, was RMB 35,967,000, a decrease from RMB 229,437,000 in 2022, showing a decline of approximately 84.3%[148]. - The company has unused bank credit facilities amounting to approximately RMB 352,426,000, indicating available liquidity for future financing needs[152]. Audit and Financial Reporting - The independent auditor confirmed that the consolidated financial statements fairly present the group's financial position and performance in accordance with Hong Kong Financial Reporting Standards[114]. - The audit committee reviews and monitors the integrity of the group's annual and interim financial statements, ensuring compliance with accounting standards and regulatory requirements[96]. - The independent auditor's report is attached to the group's annual report, outlining the responsibilities of the external auditor regarding financial reporting[97]. - The company’s financial statements for the fiscal year ending December 31, 2023, were audited by Shinewing (HK) CPA Limited, with audit and non-audit fees amounting to RMB 900,000 and RMB 6,000, respectively[90]. Shareholder Information - The board proposed a final dividend of RMB 0.013 per share for the year ended December 31, 2023, subject to approval at the upcoming annual general meeting[31]. - The group emphasizes the importance of shareholder rights and maintains good communication through interim reports, annual reports, and shareholder meetings[104]. - The company has set up an investor relations department to facilitate regular two-way communication with shareholders and the public[105].
YUSEI(00096) - 2023 - 年度财报