BOSUN(SZ:002282)2023-12-28 08:43Governance Changes - The company transitioned from a private enterprise to a mixed-ownership enterprise with state capital as the major shareholder, leading to significant changes in the board structure [1] - The board now consists of 9 directors, with 6 nominated by the major shareholder, including 2 independent directors [1] - The management team remains stable, with minimal changes to executive roles despite the shift in control [1] Operational Improvements - The company has implemented a management strategy focused on "proximity to users, product leadership, and excellent operations," which has been pivotal in enhancing operational capabilities [2] - Key initiatives include the integration of diamond tool business units, improving profitability through resource coordination and supply chain management [2][3] - The company has upgraded its ERP and MES systems to enhance efficiency and standardization in production processes [3] Financial Performance - The diamond tool business unit has seen significant improvements, with over 60% of its revenue coming from international markets, particularly the U.S., which contributes higher profit margins [3] - The company reported a notable recovery in profitability due to reduced raw material costs, although energy prices remain high [4] - The overall financial indicators have shown continuous improvement, attributed to strategic measures and favorable market conditions [3][4] Future Plans - The company is cautious about expanding production capacity but is open to acquiring profitable enterprises if suitable opportunities arise [4] - There are plans to increase investments in environmental initiatives in the upcoming year, with specific budgets to be disclosed in the 2023 annual report [4]