Tstc(SH:600552)2024-05-24 10:34Business Segments - The company operates in two main business segments: display materials and application materials, both of which are key emerging industries supported by national strategy[17]. - The display materials segment includes ultra-thin electronic glass, flexible foldable glass (UTG), and ITO conductive film glass, with a complete display industry chain[18]. - The application materials segment is accelerating in industries like photovoltaics, semiconductors, and high-end optics, presenting new growth opportunities[17]. Production and Technology Development - The company has achieved industrial-scale stable production of ultra-thin float electronic glass at thicknesses of 0.20mm, 0.15mm, and 0.12mm, recognized with the China Industrial Award[18]. - The UTG project has completed construction of its second-phase factory, with partial production capacity already established, aligning with market demand[18]. - The company is developing ultra-thin flexible glass with a thickness of 30 microns, leading in the domestic market for high-strength and ultra-thin glass[18]. - The integrated display touch module is focused on applications in tablets, laptops, smartphones, and automotive displays, with production capabilities already in place[18]. - The company is actively pursuing new technologies such as AMOLED and Micro-LED to strengthen its future development foundation[18]. Financial Performance - The company achieved operating revenue of approximately CNY 5.01 billion in 2023, representing a year-on-year increase of 6.17% compared to CNY 4.72 billion in 2022[29]. - The net profit attributable to shareholders decreased by 24.37% to approximately CNY 107.19 million in 2023 from CNY 141.74 million in 2022[29]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of approximately CNY 52.44 million in 2023 compared to a profit of CNY 2.25 million in 2022, marking a decrease of 2,427.29%[29]. - Operating profit was 20,459.77 million yuan, a year-on-year decrease of 25.27%[50]. - Total profit amounted to 20,236.83 million yuan, down 26.57% year-on-year[50]. Product and Market Expansion - The company is expanding its product offerings to include flexible foldable glass, Mini-LED backlight modules, and large-size display modules to enhance its competitive edge in the digital economy[18]. - The company’s display materials segment achieved operating revenue of approximately CNY 3.40 billion, with flexible foldable glass (UTG) entering an industry "upward phase"[34]. - The spherical materials segment saw a remarkable sales volume growth of 85%, driven by strong demand in copper-clad laminates, packaging materials, and new energy batteries[34]. - The company is actively exploring new business opportunities in automotive displays, large-screen curved displays, and smart wearable devices[34]. Research and Development - The company is adjusting its product lines and R&D paths to seek growth points in response to the rapid application of new technologies[17]. - The company applied for 82 new patents during the reporting period, including 58 invention patents[51]. - The company has a total of 234 R&D personnel, with the majority aged between 30 and 40 years[65]. - The number of R&D personnel is 618, accounting for 11.59% of the total workforce[89]. Environmental and Sustainability Initiatives - The company invested 28.09 million yuan in environmental protection during the reporting period, reflecting its commitment to sustainability[182]. - The company has established a comprehensive environmental management system to oversee its environmental performance[159]. - The company reported that all monitored pollutants from its subsidiaries met the national standards, with no instances of exceeding discharge limits[195]. - The company is actively pursuing environmental compliance and sustainability initiatives across its operations[199]. Governance and Management - The company completed the preparation and disclosure of 4 regular reports and 44 temporary announcements during the reporting period, ensuring comprehensive information disclosure reflecting governance and operational management[117]. - The total remuneration for all directors, supervisors, and senior management in the reporting period amounted to 7.4352 million yuan[128]. - The company has established several specialized committees, including the Audit Committee and the Compensation and Assessment Committee[143]. - The company has received standard unqualified opinions on its internal control audit, ensuring compliance and operational integrity[182]. Strategic Acquisitions - The company completed the acquisition of 100% of the shares of Kaisheng Quartz Materials (Taihu) Co., Ltd. and 70% of Anhui Kaisheng Basic Materials Technology Co., Ltd.[68]. - The company plans to acquire 100% equity of Kaisheng Quartz Materials (Taihu) Co., Ltd. and 70% equity of Anhui Kaisheng Basic Materials Technology Co., Ltd.[140]. Market Trends and Future Outlook - The flexible and foldable display technology is anticipated to see rapid growth, with significant market potential driven by advancements in manufacturing processes[100]. - The automotive sector is evolving towards smart and connected vehicles, increasing the demand for multi-screen displays in vehicles, indicating a substantial market opportunity[99]. - The rise of smart cities is driving the demand for smart commercial displays, which are crucial components of urban development[99]. - The company aims to maintain a steady growth strategy in 2024, emphasizing innovation and risk management to foster high-quality development[101].