Financial Performance - The net profit attributable to shareholders for the year ended December 31, 2023, was RMB 7,021,559,679.84[3]. - The undistributed profits as of December 31, 2023, amounted to RMB 52,728,780,842.33[3]. - The company plans to distribute a cash dividend of RMB 0.30 per share (including tax) to all shareholders[3]. - Total revenue for 2023 reached RMB 17,321.21 million, a 26.12% increase from RMB 13,733.99 million in 2022[17]. - Net profit attributable to shareholders decreased by 15.06% to RMB 702.16 million from RMB 826.60 million in the previous year[17]. - Operating cash flow increased by 44.21% to RMB 1,775.38 million compared to RMB 1,231.13 million in 2022[17]. - Operating costs increased by 28.43% to RMB 16,770.83 million from RMB 13,058.70 million in 2022[17]. - The company reported a net profit of RMB 483.37 million after deducting non-recurring gains and losses, reflecting a 7.98% increase from RMB 447.65 million in 2022[17]. - The company's total assets increased by 8.59% to CNY 20,127,028.86 million compared to CNY 18,535,730.05 million in 2022[18]. - The company's total liabilities rose by 10.50% to CNY 13,276,150.46 million from CNY 12,014,139.24 million in 2022[18]. - The gross profit margin for 2023 was 18.73%, a decrease of 0.64 percentage points from 19.37% in 2022[31]. - The weighted average return on equity decreased by 2.05 percentage points to 10.61% in 2023[19]. Market and Sales Performance - In 2023, the company's investment income increased by 13.36% to CNY 76,092.75 million compared to CNY 67,123.76 million in 2022[18]. - The total sales volume for 2023 was 1,229,982 units, a year-on-year growth of 15.85%, with domestic sales increasing by 2.97% and export sales increasing by 82.37%[44][43]. - The company achieved a record high overseas sales of 314,010 vehicles, representing a year-on-year growth of 82.37%[29]. - The average revenue per vehicle sold was RMB 141,400, up by RMB 12,000 year-on-year, marking a historical high[26]. - The company sold 256,767 vehicles priced above RMB 200,000, accounting for 18.36% of total sales, an increase of 3.09 percentage points year-on-year[26]. - In the new energy vehicle segment, sales doubled to 256,400 units, reflecting a year-on-year growth of 113.88%[27]. - The company launched 15 new energy vehicle models in 2023, enhancing its product structure and market coverage[27]. - The Haval brand achieved sales of 720,506 units in 2023, a year-on-year increase of 16.69%, with new energy vehicle sales soaring by 1,014.85%[46]. - The Tank brand recorded sales of 162,859 units, up 29.58% year-on-year, maintaining its position as the top-selling off-road SUV brand in China for 36 consecutive months[47]. - The WEY brand saw sales of 35,466 units, reflecting an impressive year-on-year growth of 81.26%[48]. - The Great Wall Pickup sold 201,385 units, a 2.51% increase year-on-year, holding nearly 50% market share in China[49]. - The ORA brand sold 109,215 units in 2023, achieving a year-on-year growth of 6.61%[50]. Research and Development - Research and development expenses rose by 24.97% to RMB 805.43 million from RMB 644.52 million in 2022[17]. - The company has accumulated 15,119 authorized patents, including 2,508 invention patents, 9,025 utility model patents, and 3,586 design patents[99]. - The company is committed to a multi-track development strategy in new energy, focusing on hybrid, pure electric, and hydrogen energy technologies[74]. - The company plans to enhance its self-research capabilities and focus on the development of intelligent new energy vehicles[122]. - The company has developed the Hi4 hybrid technology system, which includes multiple configurations to meet diverse user needs and driving scenarios[51]. Corporate Governance and Compliance - The audit report issued by Deloitte Huayong CPA has a standard unqualified opinion[3]. - The board of directors and senior management have guaranteed the truthfulness, accuracy, and completeness of the annual report[3]. - The company has established an Audit Committee to review and monitor financial reporting procedures and internal controls, consisting of 3 independent non-executive directors and 1 non-executive director[152]. - The company has complied with all principles and code provisions of the Corporate Governance Code during the reporting period[148]. - The company has maintained good relationships with employees, customers, and suppliers, focusing on quality automotive products and continuous improvement[151]. - The company has published its 2023 Corporate Social Responsibility Report, detailing its environmental policies and social responsibilities[149]. Strategic Initiatives and Future Plans - The company plans to expand its market presence and enhance product offerings in the upcoming fiscal year[16]. - The company plans to accelerate channel and brand development in the new energy sector[20]. - The company plans to continue expanding into new markets and developing more intelligent new energy products in 2024[29]. - The company aims to accelerate the development of its "ecological going global" strategy, leveraging opportunities in countries along the Belt and Road Initiative[122]. - The company will leverage 5G and AI technologies to transform into a fully digitalized and intelligent enterprise[125]. Employee and Shareholder Matters - The company employed 82,439 employees as of December 31, 2023, down from 87,367 in the previous year[38]. - The company has a remuneration policy for directors and senior management that includes base salary, bonuses, and non-monetary benefits[142]. - The company is expanding its employee stock ownership plans, with significant allocations planned for key executives in 2024[178]. - The total compensation for all directors, supervisors, and senior management amounted to RMB 15.9777 million at the end of the reporting period[191]. - The company has initiated discussions on daily related transactions with Beam Automobile[167]. Risk Management - The company faces risks from changes in the international trade environment, rapid technological advancements, and the impact of digitalization on the automotive market[124]. - To mitigate risks, the company is committed to a global development strategy and aims to expand its market presence in Europe, ASEAN, Latin America, and other regions[125]. - The supervisory board confirmed that there were no violations of the Company Law or relevant financial accounting standards during the 2023 fiscal year[168].
长城汽车(02333) - 2023 - 年度业绩