OKE(SH:688308)2024-04-18 07:38Group 1: Financial Performance - In 2023, the company achieved operating revenue of 1,026.46 million yuan, with CNC tool products contributing 578.54 million yuan and hard alloy products contributing 445.46 million yuan [2] - CNC tool product sales reached 8.77 million pieces, with an average selling price of 6.59 yuan per piece [3] - The overall revenue from hard alloy products grew by 9.98% year-on-year [3] Group 2: Product and Market Strategy - The proportion of high-end CNC tool products increased, with products priced above 10 yuan accounting for 18.19%, up by 4.73 percentage points year-on-year [3] - The company focuses on product innovation and high-end market penetration, with plans for accelerated market entry of high-end products in 2024 [3] - The overseas market presents significant opportunities, with a clear demand for both mid-range and high-end products in regions like Southeast Asia and Europe [4] Group 3: Challenges and Responses - The negative operating cash flow in 2023 was primarily due to delayed receivables and increased inventory from new product preparations [3] - Raw material prices, particularly tungsten carbide, have risen, but the company has successfully passed these costs onto customers [3] - The company is actively managing accounts receivable, with improvements expected as dealer inventories decrease [3] Group 4: Future Outlook - In 2024, the company plans to adjust its operational strategy to enhance high-end product transformation and channel development [5] - The company has a construction project with 278 million yuan in progress, expected to contribute to scale efficiency upon completion [5] - The company is committed to maintaining stock price stability through share repurchases, having repurchased shares worth 20.21 million yuan as of March 31, 2024 [5]