SICC CO.(688234)2024-04-11 16:00Financial Performance - The company reported a profit distribution plan for 2023, which includes no cash dividends, no capital reserve transfer to share capital, and no bonus shares [4]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges [2]. - The company reported significant growth in revenue, achieving a total of 1.2 billion RMB, representing a 25% increase year-over-year [12]. - The company achieved total operating revenue of CNY 1,250,695,717.95 in 2023, a 199.90% increase compared to the previous year [18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 45,720,451.65, an improvement from a loss of CNY 175,681,853.81 in 2022 [18]. - The basic and diluted earnings per share were both -CNY 0.11, compared to -CNY 0.41 in the previous year, indicating a narrowing loss [19]. - The company reported a comprehensive gross margin of 15.81% for 2023, influenced by production capacity adjustments and market competition [80]. - The company has a cumulative undistributed profit of -297.58 million yuan as of December 31, 2023, indicating a risk of unremedied losses [79]. Audit and Compliance - A standard unqualified audit report was issued by Lixin Certified Public Accountants, ensuring the accuracy of the financial statements [3]. - The financial report is signed and sealed by the responsible persons, ensuring its authenticity and completeness [6]. - There are no violations of decision-making procedures regarding external guarantees [4]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties [4]. - The company has not disclosed any special arrangements for corporate governance [4]. - The company has implemented a comprehensive information disclosure management system to enhance transparency [188]. - The company has no reported penalties from securities regulatory agencies in the past three years [139]. Operational Strategy and Growth - The company projects a revenue growth of 20% for the next fiscal year, targeting 1.44 billion RMB [12]. - The company plans to acquire a smaller competitor to enhance its product portfolio and market reach, with an estimated cost of 200 million RMB [12]. - Future strategies include diversifying product lines and enhancing supply chain resilience to mitigate risks [12]. - The company is expanding its market presence in Europe, aiming for a 10% market share by 2025 [12]. - The company is actively expanding its overseas market presence, establishing a research and sales center in Japan [31]. - The company aims to become a globally recognized semiconductor materials company, focusing on enhancing technology and product quality to lead industry advancements [116]. Research and Development - Research and development investments increased by 40%, focusing on next-generation semiconductor technologies [12]. - The company’s R&D expenses for 2023 amounted to 137.21 million RMB, focusing on forward-looking technologies and key core areas [28]. - The company has established a strong research and development platform for silicon carbide semiconductor materials, enhancing regional economic innovation and competitiveness [67]. - The company has successfully developed high-quality 8-inch silicon carbide products, leading to batch sales and a competitive edge in the market [40]. - The company has mastered core technologies across various processes, including crystal growth and substrate processing, positioning itself as a leader in the silicon carbide industry [42]. Market and Customer Relations - User data indicates a 30% increase in active users, reaching 500,000 by the end of the fiscal year [12]. - The company has established long-term cooperation agreements with over 50% of the world's top ten power semiconductor companies, enhancing its market presence [28]. - The company’s products are widely used in 5G communication, new energy vehicles, and energy storage, indicating a strong market demand [33]. - The company’s top five customers accounted for 51.16% of total sales in 2023, indicating a high customer concentration risk [75]. Environmental and Social Responsibility - The company has been recognized as a "Leader in Carbon Peak Enterprises" by the China Industrial Economic Federation, highlighting its commitment to sustainability [30]. - The company invested 2.1699 million yuan in environmental protection during the reporting period [172]. - The company has established a complete pollution treatment system to ensure that all pollutant emissions meet standards [171]. - The company emphasizes the importance of ESG practices and has established a governance structure to enhance decision-making and transparency [166]. Governance and Management - The company has a stable board of directors with no changes in shareholding for the year [127]. - The company has appointed new senior management and representatives for securities affairs and audit department following the board's re-election [132]. - The company has implemented a performance evaluation mechanism for senior management, linking compensation to strategic goals and individual performance metrics [161]. - The company has established a special account for raised funds and signed a five-party supervision agreement [140]. Future Outlook - The company aims to maintain its strategic direction and explore potential mergers and acquisitions [129]. - The company will continue to strengthen long-term strategic partnerships with leading customers in the industry to expand its business scale [118]. - The company is focused on sustainable development and enhancing the motivation of its management team through competitive remuneration packages [137]. - The company has a clear performance guidance for the upcoming fiscal year, aiming for sustainable growth [128].