XCC(603667)2024-07-08 07:38Financial Performance - In 2023, the company's net profit attributable to shareholders decreased by 6.49% to 1.38 billion CNY, while the operating income fell by 31.06% to 6.49 billion CNY [1] - The sales revenue of finished bearings was approximately 7 billion CNY, down 9.91% year-on-year, with a significant decline of 41.6% in bearing rings [2] - The net cash flow from operating activities was 2.83 billion CNY, reflecting a year-on-year growth of 2.95% [1] Product Segment Performance - The sales revenue of automotive components reached 4.3 billion CNY, marking a 9.3% increase, with airbag gas generator components contributing 1.8 billion CNY, up 36.3% [2] - The thermal management system sales revenue was 8.3 billion CNY, showing a slight decline of 1.26% [2] - Wind power roller sales revenue was approximately 800 million CNY, impacted by lower-than-expected downstream installations and inventory digestion [2] Future Outlook and Risks - The company faces risks related to the long certification cycles for new products and potential market demand shortfalls, which could affect future performance [1] - The management expressed confidence in the company's future development and ongoing transformation from bearing rings to finished bearings and precision components [2] - The company is currently constructing two specialized production workshops for screw products, focusing on applications in new energy vehicles and robotics [3] Investment and Funding - The company has three ongoing fundraising projects, with significant progress in the new energy vehicle bearing project, while the wind power roller project has utilized less than half of the raised funds [2] - There is an ongoing need for funding to support the company's operations and expansion in the global market [3]