FORE(301368)2024-04-22 13:47Financial Performance - The company's operating revenue for 2023 was ¥429,320,938.05, a slight increase of 0.12% compared to ¥428,824,085.73 in 2022[23]. - The net profit attributable to shareholders decreased by 46.34% to ¥24,090,737.82 from ¥44,899,015.11 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥20,466,648.13, down 45.39% from ¥37,475,843.93 in 2022[23]. - The net cash flow from operating activities increased by 20.36% to ¥45,914,621.09 compared to ¥38,149,318.81 in 2022[23]. - The total assets at the end of 2023 were ¥1,223,642,062.66, a decrease of 3.99% from ¥1,274,433,851.20 at the end of 2022[23]. - The company's basic earnings per share dropped by 60.00% to ¥0.20 from ¥0.50 in 2022[23]. - The total net profit for 2023 included non-recurring gains of ¥3,624,089.69 after tax adjustments[30]. - The company's net assets attributable to shareholders grew by 0.94% to CNY 970.31 million as of December 31, 2023[76]. Dividend Distribution - The company plans to distribute a cash dividend of 0.85 RMB per 10 shares to all shareholders, based on a total of 120,100,000 shares[4]. - The company reported a cash dividend of 0.85 CNY per 10 shares, totaling 10,208,500 CNY, which represents 100% of the profit distribution[185]. - The company distributed a cash dividend of RMB 1.25 per 10 shares, totaling RMB 15,012,500, based on a total share capital of 120,100,000 shares as of December 31, 2022[183]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential operational risks and corresponding countermeasures[4]. - The company’s future development outlook includes a detailed description of potential risks and strategies to mitigate them[4]. - The company plans to increase reporting frequency during periods of market volatility to ensure timely execution of risk response plans[108]. - The company has a dedicated team responsible for assessing the risks associated with foreign exchange derivative transactions[108]. Corporate Governance - The company has a strong emphasis on corporate governance and social responsibility, as outlined in its annual report[6]. - The company maintains independence in assets, personnel, finance, organization, and business from its controlling shareholders[149]. - The company has established an independent financial accounting department and operates its own bank accounts without sharing with controlling shareholders[150]. - The independent directors actively participate in meetings and provide opinions on significant matters, enhancing corporate governance[148]. - The company has a transparent information disclosure process, adhering to relevant regulations and ensuring equal access to information for all shareholders[148]. Research and Development - The company has established a complete R&D, production, sales, and service system, primarily serving industries such as new energy vehicles, robotics, electric tools, smart home, and medical devices[64]. - The company is focusing on new product development, including a series of high-precision and low-noise components for automotive applications, such as electric seat motors and automatic parking brake drives[47]. - The company has ongoing projects in the intelligent drive industry, with a total investment of 6,175,000 yuan and a cumulative actual investment of 18,250,000 yuan[104]. - The company is currently developing several key technologies, including a high-precision low-noise harmonic reducer and an electric vehicle high-precision wheel edge reducer, aimed at expanding product categories and market reach[91]. Market Trends and Opportunities - The electric tools market in China is projected to reach ¥200.8 billion in 2023, with an expected annual growth rate of over 6% from 2024 to 2027[34]. - In 2023, China's smart home market exceeded 700 billion yuan, with a shipment volume of approximately 330 million units[36]. - By 2025, it is projected that 136 million households in China will have smart devices and services, increasing to 342 million by 2025, making China the largest smart society market globally[36]. - The global robotics market is expected to grow from 258.36 billion by 2028, with a compound annual growth rate of 17.64%[39]. Production and Operations - The company reported a high production efficiency and cost-effective manufacturing for electric tools and industrial sewing machines, with a focus on self-lubricating and high-strength components[44]. - The company has established long-term stable business relationships with international enterprises such as Bosch, Stanley Black & Decker, and Makita, entering the global supply chain of top-tier companies[41]. - The company employs a strict supplier management system to control raw material quality and procurement costs, forming stable procurement relationships with suppliers[54]. - The company utilizes a combination of in-house processing for core processes and outsourcing for non-core processes to optimize resource allocation[60]. Environmental Compliance - The company has established a comprehensive set of environmental protection facilities, which are well-maintained and operated effectively in 2023[194]. - Wastewater monitoring results showed pH values averaging 7.2-7.3, chemical oxygen demand at 169 mg/L, and ammonia nitrogen at 3.44 mg/L, all within regulatory limits[199]. - The company has implemented a rainwater and sewage separation system, ensuring that treated wastewater meets the Class A discharge standards[199]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[199]. Employee Management - The company has a total of 788 employees at the end of the reporting period, with 631 in production, 99 in technical roles, and 14 in sales[178]. - The company has implemented a salary policy that combines individual and team performance to enhance employee motivation and retention[180]. - The company has established a comprehensive training system, including new employee orientation and professional skills enhancement training[181]. - The company has a total of 29 administrative staff among its employees[179].