JCT(SH:603657)2024-05-10 09:58Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, excluding the repurchase account, based on the total share capital as of the dividend record date[5]. - The company does not plan to issue bonus shares or convert capital reserves into share capital[5]. - The total cash dividend amount for the fiscal year is projected to be ¥13,669,825.00, which represents 54.69% of the net profit attributable to ordinary shareholders in the consolidated financial statements[131]. - The company has established a three-year shareholder return plan (2022-2024) to enhance shareholder value and promote long-term investment[127]. - The company is committed to enhancing shareholder value, with plans to distribute dividends amounting to 100 million CNY in the upcoming fiscal year[109]. Financial Performance - The company's operating revenue for 2023 was CNY 1,819,984,272.20, a decrease of 5.28% compared to CNY 1,921,419,140.81 in 2022[25]. - The net profit attributable to shareholders for 2023 was CNY 24,996,429.46, reflecting a significant decline of 74.60% from CNY 98,412,131.19 in 2022[25]. - Basic earnings per share for 2023 were CNY 0.18, down 75.34% from CNY 0.73 in 2022[26]. - The weighted average return on equity decreased to 2.43% in 2023, down 7.11 percentage points from 9.54% in 2022[26]. - The total assets at the end of 2023 were CNY 1,957,797,877.97, a decrease of 10.05% from CNY 2,176,482,551.02 at the end of 2022[25]. Operational Highlights - The company has established six production bases in Jinhua, Suzhou, Malaysia, and Vietnam to enhance responsiveness to customer needs and reduce transportation costs[54]. - The company has implemented a QR code traceability system to improve inventory management efficiency and product quality control[54]. - The company has established a joint venture in Vietnam with Suzhou Yongjie Motor Co., Ltd. to improve the supply chain for vacuum cleaner OEM business[40]. - The company acquired the remaining 45% equity of Suzhou Shangteng, making it a wholly-owned subsidiary to enhance industrial synergy[36]. - The company plans to invest CNY 185 million to establish a clean electrical appliance production base in Vietnam, with site selection and registration completed[39]. Market Trends and Demand - The global vacuum cleaner market's consumer demand is a key driver for the company's sales of vacuum cleaner hoses and accessories[42]. - The clean appliance market continues to grow, providing a broad market prospect for the hose industry[81]. - The demand for vacuum cleaners is driven by global population growth, rising economic levels, and increased awareness of indoor air quality and health[81]. - The retail sales of cleaning appliances in China amounted to 34.4 billion yuan in 2023, with a year-on-year increase of 6.8%, while retail volume decreased by 0.5% to 25.34 million units[43]. - The Chinese cleaning appliance market is projected to grow steadily, reaching 85.2 billion yuan by 2026, driven by increasing consumer demand and industry concentration[43]. Research and Development - The company has established a strong technical innovation capability and a complete quality control system, positioning itself as a technology leader in the cleaning appliance hose industry[49]. - The company’s total R&D investment for the period was CNY 64,632,239.04, accounting for 3.55% of total revenue[67]. - Research and development expenses slightly decreased by 1.73% to CNY 64,632,239.04, indicating a reduction in R&D investment[56]. - The number of R&D personnel is 324, representing 11.61% of the total workforce[68]. - The company is focusing on high-end, intelligent, and energy-saving product development in response to market trends[82]. Governance and Compliance - The company has established effective communication channels with investors, including a dedicated investor hotline and an interactive platform[100]. - The company has strengthened the awareness of information disclosure responsibilities among its directors and senior management, improving the quality and transparency of disclosures[100]. - The company held a total of 10 supervisory board meetings during the reporting period, ensuring compliance with relevant laws and regulations[99]. - The independent directors have actively participated in major business decisions, enhancing the company's governance structure and operational capabilities[99]. - The company has not faced any penalties from securities regulatory agencies in the past three years[113]. Risks and Challenges - The company faces risks from raw material price fluctuations, primarily influenced by oil prices, which could impact profitability and stable operations[93]. - The company operates in a highly competitive market with many players, particularly in Jiangsu, Guangdong, and Zhejiang provinces, which may affect pricing and market share if core competitive advantages are not maintained[93]. - The company has a high customer concentration risk, which could adversely affect operations if major customers reduce procurement or face operational challenges[94]. - The company's export revenues are significantly affected by foreign currency exchange rates, particularly if the RMB appreciates or experiences high volatility[95]. - The company has recognized goodwill of approximately 5.36 million yuan from the acquisition of Suntone in Vietnam, which is subject to annual impairment testing[95]. Employee and Management - The company has a total of 2,791 employees, with 953 in the parent company and 1,838 in major subsidiaries[123]. - The company’s employee compensation policy is designed to be fair and market-oriented, ensuring transparency in salary structures[124]. - The total remuneration for all directors, supervisors, and senior management was 5.8296 million RMB[112]. - The company emphasizes the importance of employee training and development, implementing a structured training system to enhance management innovation capabilities[125]. - The company’s senior management evaluation mechanism is overseen by the remuneration and assessment committee, ensuring alignment with performance conditions[136]. Financial Management - The company has not engaged in any entrusted financial management or entrusted loan activities during the reporting period[184]. - The total amount of raised funds from the initial public offering was RMB 443.04 million, with RMB 394.99 million utilized by the end of the reporting period, achieving a utilization rate of 101.70%[186]. - The company has not reported any changes in the status of previously disclosed temporary announcements[180]. - The total amount of guarantees provided by the company, excluding those for subsidiaries, is zero, indicating no financial risk from guarantees[182]. - The company has not reported any impairment provisions for entrusted financial management or loans[185].