Wetown Electric(SH:688226)2024-05-17 07:36Group 1: Financial Performance - In 2023, the company achieved operating revenue of 2.848 billion yuan, a year-on-year increase of 74.03% [2] - The net profit attributable to the parent company was 1.20 billion yuan, up 72.30% compared to the previous year [3] - In Q1 2024, the company reported operating revenue of 795 million yuan, representing a year-on-year growth of 84.68% [3] - The net profit attributable to the parent company in Q1 2024 was 35 million yuan, an increase of 165.64% year-on-year [3] Group 2: Business Segments - Revenue from distribution equipment was approximately 1.297 billion yuan, a year-on-year increase of 42.10% [3] - Revenue from photovoltaic materials reached about 1.120 billion yuan, growing by 81.67% [3] - The energy storage system revenue was approximately 351 million yuan [3] Group 3: R&D and Innovation - In 2023, the company invested 53.37% more in R&D compared to the previous year [3] - The company was recognized as a national-level "specialized, refined, and innovative" enterprise [3] - As of the end of 2023, the company held a total of 62 invention patents (including 3 international invention patents), 288 utility model patents, 19 design patents, and 36 software copyrights [3] Group 4: Shareholder Returns and Future Plans - The profit distribution plan for 2023 proposed a cash dividend of 2.34 yuan per 10 shares (before tax), totaling 36.5 million yuan, which accounts for 30.30% of the net profit attributable to the parent company [4] - The company is actively developing its energy storage system business, which generated 351 million yuan in revenue in 2023 [4] - The company has received approval from the China Securities Regulatory Commission for a private placement of shares [4] Group 5: Digital Transformation - In 2023, the company successfully implemented various information systems (ERP, PLM, CRM, SRM, EHR) to enhance digital management [4][5] - The integration of these systems aims to streamline operations and improve supply chain management [5]