Suntak(002815)2024-04-12 16:00Financial Performance - In 2023, the company's operating revenue was approximately ¥5.77 billion, a decrease of 1.68% compared to ¥5.87 billion in 2022[6]. - The net profit attributable to shareholders was approximately ¥408.52 million, down 35.84% from ¥636.69 million in 2022[6]. - The net cash flow from operating activities was approximately ¥1.19 billion, showing a slight decrease of 0.06% compared to ¥1.19 billion in 2022[6]. - The total assets at the end of 2023 reached approximately ¥11.93 billion, an increase of 25.68% from ¥9.49 billion at the end of 2022[6]. - The net assets attributable to shareholders increased by 41.39% to approximately ¥7.08 billion from ¥5.01 billion in 2022[6]. - The total operating revenue for 2023 was approximately ¥5.77 billion, a decrease of 1.68% compared to ¥5.87 billion in 2022[69]. - Main business revenue accounted for ¥5.36 billion, representing 92.83% of total revenue, down 3.30% from ¥5.54 billion in 2022[69]. - Export revenue was ¥3.04 billion, making up 52.70% of total revenue, which is a decline of 9.63% from ¥3.37 billion in the previous year[69]. - Domestic sales increased by 6.49% to ¥2.32 billion, representing 40.13% of total revenue[69]. Market Overview - The global PCB market value in 2023 was approximately 73 billion, representing a growth of 5%[30]. - The average compound annual growth rate (CAGR) for the global PCB industry from 2023 to 2028 is projected to be 5.4%, with an expected market value of $90.4 billion by 2028[30]. - The demand for packaging substrates saw a significant decline in 2023, becoming the most affected segment within the PCB market[31]. - The PCB market in mainland China experienced a growth rate of -13.2% in 2023, reflecting the broader challenges faced in the industry[32]. Risk Factors - The report highlights potential risks including macroeconomic fluctuations, raw material price volatility, and trade disputes, along with corresponding mitigation strategies[5]. - The company faces risks from macroeconomic fluctuations, with a significant portion of revenue dependent on the PCB industry[111]. - Raw material costs account for approximately 70% of total costs, with fluctuations in prices of copper and other materials posing a risk to profitability[112]. - Approximately 60% of the company's revenue comes from exports, making it vulnerable to exchange rate fluctuations, particularly with the USD[113]. - Trade disputes, particularly with the US, could impact the company's export business and overall performance[116]. Research and Development - The company invested 3.18 billion yuan in R&D in 2023, a year-on-year increase of 4.70%, focusing on advanced PCB technologies for various applications[60]. - R&D investment amounted to ¥317,596,317.75 in 2023, reflecting a 4.70% increase from ¥303,348,273.06 in 2022[83]. - R&D personnel increased to 1,015 in 2023, a growth of 15.47% compared to 879 in 2022[83]. - The company has a total of 353 valid patents, including 297 invention patents, and filed 45 new patent applications in 2023, demonstrating its commitment to innovation[57]. Corporate Governance - The company emphasizes the importance of accurate financial reporting, with all board members present for the approval of the annual report[5]. - The board consists of 7 members, including 3 independent directors with backgrounds in accounting, law, and management, ensuring compliance with legal requirements[125]. - The company has established an independent financial accounting department and maintains a separate financial decision-making process, free from interference by controlling shareholders[136]. - The company has a dedicated internal audit department that supervises related transactions and ensures compliance with internal control systems[132]. - The company maintains a clear separation of its operational structure from that of its controlling shareholders, ensuring independent business operations[138]. Environmental Compliance - The company has been compliant with various environmental protection laws and standards, including the Environmental Protection Law and the Water Pollution Prevention Law, since their enactment[186]. - The company has established a comprehensive environmental management system to ensure adherence to environmental standards and regulations[186]. - The company achieved a total wastewater discharge of 6003.45 kg for ammonia nitrogen and 6902.02 kg for total nitrogen, both within the regulatory limits[194]. - The company has implemented stricter controls on nitrogen oxides, with emissions recorded at 2.240 mg/m³, well within the limits[196]. - The company is actively pursuing new technologies to reduce overall emissions and improve compliance with environmental standards[196]. Shareholder Relations - The company conducted investor relations activities on April 27, 2023, discussing the 2022 annual performance with all investors[117]. - The company emphasized equal treatment of all shareholders, ensuring that minority shareholders can fully exercise their voting rights during shareholder meetings[123]. - The company has engaged with various investment institutions, including major funds and securities firms, to discuss its future strategies and performance outlook[118]. - The company held a collective reception day for investors on November 15, 2023, via an online platform[119]. Employee Management - The total number of employees at the end of the reporting period is 6,011, with 386 in the parent company and 5,625 in major subsidiaries[165]. - The company emphasizes a competitive salary policy to motivate employees and enhance creativity[166]. - Training plans are established annually to improve employee skills and safety management[167]. - The company has implemented a performance evaluation and incentive mechanism for its directors, supervisors, and senior management, enhancing transparency and accountability[128].