FAWER(000030)2024-04-21 07:58Financial Performance - The company's operating revenue for 2023 reached ¥15,842,626,000, representing a 26.03% increase compared to ¥12,570,517,600 in 2022[19]. - Net profit attributable to shareholders was ¥604,140,594, marking a 20.55% increase from ¥500,961,522 in the previous year[19]. - Basic and diluted earnings per share increased by 20.69% to ¥0.35, compared to ¥0.29 in 2022[19]. - Total assets at the end of 2023 were ¥16,976,862,500, an increase of 11.10% from ¥15,259,037,100 at the end of 2022[19]. - The net assets attributable to shareholders rose to ¥7,671,227,250, reflecting a 2.67% increase from ¥7,471,059,060 in 2022[19]. - The total revenue for 2023 reached ¥15.84 billion, representing a 26.03% increase compared to ¥12.57 billion in 2022[59]. - The automotive parts segment generated ¥16.56 billion, accounting for 104.53% of total revenue, with a year-on-year growth of 27.15%[59]. - The chassis system contributed ¥8.10 billion, which is 51.13% of total revenue, showing a 20.79% increase from the previous year[59]. - The electronic systems segment saw a significant growth of 60.81%, reaching ¥2.24 billion, up from ¥1.39 billion in 2022[59]. - The company achieved a record revenue of 15.5 billion CNY in 2023, representing a year-on-year increase of 32 billion CNY, with a growth rate exceeding 26%[48]. Cash Flow and Dividends - The net cash flow from operating activities significantly decreased by 84.30% to ¥44,256,997.12, down from ¥281,858,459 in 2022[19]. - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares to all shareholders, based on a total share capital of 1,741,643,085 shares, excluding 21,832,240 shares held in the company's repurchase account[4]. - The total distributable profit for the year is 4,436,506,403.83 yuan, with the cash dividend accounting for 100% of the profit distribution[148]. - The company has not conducted any share buybacks in 2023, and the cash dividend is the only form of profit distribution[149]. Research and Development - In 2023, the company made significant advancements in R&D, achieving breakthroughs in 41 core technologies and filing 173 patents, including 79 invention patents[45]. - The company has expanded its R&D capabilities with 14 technical centers, including 10 provincial-level centers and 9 CNAS accredited laboratories[44]. - The company has focused on the development of lightweight, electric, intelligent, and connected products, with successful mass production of electric water pumps and battery systems for new energy vehicles[49]. - The company is investing 100 million yuan in R&D for new technologies aimed at improving product efficiency[124]. - The number of R&D personnel increased by 11.90% to 1,157 in 2023, compared to 1,034 in 2022[72]. Market and Industry Trends - In 2023, China's automobile production and sales reached 30.16 million and 30.09 million units, respectively, marking a year-on-year growth of 11.6% and 12%[29]. - The production and sales of new energy vehicles (NEVs) reached 9.59 million and 9.49 million units, with year-on-year growth of 35.8% and 37.9%, achieving a market share of 31.6%[29]. - The company anticipates that total vehicle sales in China will reach 31 million units in 2024, with new energy vehicles exceeding 11 million units[91]. - The penetration rate of new energy vehicles in the Chinese market is expected to further increase in 2024, with the automotive industry accelerating its development towards intelligence[97]. Governance and Compliance - The company maintains a transparent information disclosure system, ensuring all shareholders have equal access to relevant information[108]. - The governance structure of the company is in compliance with relevant laws and regulations, ensuring effective decision-making and supervision[107]. - The company has not reported any insider trading violations during the reporting period[108]. - The company has established independent operations in business, personnel, assets, institutions, and finance, ensuring complete independence from the controlling shareholder[109]. - The company has a dedicated financial control department and independent financial management systems, ensuring compliance with legal and regulatory requirements[110]. Environmental Responsibility - The company’s wastewater discharge for hexavalent chromium was 0.116 kg, well below the regulatory limit of 0.2 mg/L, indicating compliance with environmental standards[167]. - The company has not reported any significant environmental issues or non-compliance with environmental regulations[167]. - In 2023, the total investment in environmental governance and protection by Fawer Automotive Parts Co., Ltd. was CNY 3.46 million, and the environmental protection tax paid was CNY 131,000[171]. - Fawer Automotive Parts Co., Ltd. purchased 27.57 million kWh of green wind power to reduce carbon emissions and support carbon neutrality goals[172]. Strategic Initiatives - The company aims to become an international parts group focused on lightweight, electrification, and intelligent connected products by 2025, enhancing its core technology capabilities and global resource layout[96]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[120]. - The company is actively pursuing market expansion, with plans to enter three new international markets by Q3 2024[183]. - A strategic acquisition of a smaller competitor is in progress, which is anticipated to enhance market share by 10%[184]. Employee Development - The total number of employees at the end of the reporting period is 7,978, with 3,229 from the parent company and 4,749 from major subsidiaries[143]. - The company organized 2,655 training sessions, training a total of 45,000 participants and accumulating 270,000 training hours[145]. - The company has a comprehensive training system covering all employees, emphasizing talent development aligned with corporate strategy[145].