TARRY(300976)2024-04-23 11:58Financial Performance - The company reported a significant decline in performance for the year 2023, with specific reasons and measures for improving profitability detailed in the management discussion section [4]. - The company's operating revenue for 2023 was CNY 1,397,831,990.40, a decrease of 4.87% compared to CNY 1,469,315,841.46 in 2022 [19]. - The net profit attributable to shareholders for 2023 was CNY 73,368,764.49, down 63.38% from CNY 200,359,203.19 in 2022 [19]. - The company reported a basic earnings per share of CNY 0.78 for 2023, a decrease of 63.38% from CNY 2.13 in 2022 [19]. - The company achieved a total revenue of CNY 1.398 billion in 2023, a decrease of 4.87% year-on-year [62]. - The net profit attributable to shareholders was CNY 73.37 million, down 63.38% compared to the previous year [62]. - Revenue from consumer electronic functional components decreased by 26.40% to CNY 458.38 million, accounting for 32.79% of total revenue [65]. - Revenue from new energy structural and functional components increased by 107.29% to CNY 498.19 million, representing 35.64% of total revenue [65]. Cash Flow and Financial Management - The net cash flow from operating activities increased significantly by 368.97% to CNY 209,899,313.26 in 2023, compared to CNY 44,757,977.50 in 2022 [19]. - Total cash inflow from operating activities was CNY 1.39 billion, an increase of 8.99% compared to CNY 1.27 billion in the previous year [80]. - The net cash flow from investment activities decreased significantly by 2,609.55%, resulting in a net outflow of approximately CNY 490.9 million, mainly due to increased cash outflows for purchasing financial products [80]. - Cash and cash equivalents decreased by CNY 379.6 million, representing a decline of 978.23% compared to the previous year [80]. - The company's cash management income contributed CNY 24.7 million to investment income, accounting for 32.12% of total profit [84]. - The proportion of cash and cash equivalents to total assets decreased from 41.19% to 30.91%, a decline of 10.28% [85]. - The company's fixed assets increased by 5.00% to CNY 662.4 million, reflecting ongoing investments in production capacity [85]. Business Operations and Market Trends - The company is facing potential risks in its future operations, with corresponding countermeasures outlined in the future development outlook section [4]. - The global smartphone shipments in 2023 decreased by 3.2% year-on-year to 1.17 billion units, marking the lowest annual shipment in a decade [30]. - The global personal computer shipments in 2023 fell by 13% year-on-year to 247 million units, but showed a 3% increase in the fourth quarter [30]. - The company anticipates a recovery phase driven by the demand for customized components and automation equipment in the consumer electronics sector [31]. - The company is positioned to benefit from the integration of new information technologies such as 5G, AI, and big data, which are expected to drive innovation in consumer electronics [31]. - The company aims to enter a new phase of high-quality growth alongside the recovery of the economy and industry demand [31]. Research and Development - The company’s R&D model includes collaboration with upstream material suppliers and universities to develop new products [44]. - The company achieved R&D investment of ¥83,622,419.52 in 2023, representing 5.98% of total revenue, an increase from 5.61% in 2022 [78]. - The number of R&D personnel increased by 8.03% to 269 in 2023, with R&D personnel accounting for 11.63% of the total workforce [78]. - Significant R&D projects include the development of high-efficiency automatic detection technology and automated assembly lines for wireless earphone modules, both of which are completed and aimed at increasing market share and revenue [76]. - The company is advancing in the development of second-generation soft solder solidification machines and lightweight breathable VR masks, with progress on schedule, which will enhance product performance and efficiency [76]. Corporate Governance and Management - The company has established a robust internal control system, continuously improving its governance structure in accordance with relevant laws and regulations [133]. - The company maintains complete independence in assets, personnel, finance, organization, and business operations from its controlling shareholder, ensuring no conflicts of interest [140][145]. - The company has implemented a stock incentive plan for senior management and key employees to enhance long-term performance and motivation [138]. - The company has experienced changes in its executive team, which may impact strategic direction and operational execution [150]. - The management team includes a diverse group of individuals with varying tenures, ensuring stability and continuity [149]. Strategic Initiatives and Future Outlook - The company plans to focus on market potential in 2024, leveraging new processes and materials to enhance revenue [63]. - The company is actively expanding its new energy structural and functional components business, entering the supply chain of leading companies in the new energy sector [35]. - The company plans to deepen cooperation with leading clients in the new energy and energy storage battery sectors, enhancing project capabilities and improving product quality [116]. - The company is likely to explore new market opportunities and product developments under the new leadership team [151]. - The company is committed to improving internal management efficiency and actively reducing costs to enhance overall competitiveness [124]. Investor Relations and Communication - The company emphasizes the importance of investor awareness regarding forward-looking statements and associated investment risks [4]. - The company will strengthen investor relations management to enhance communication and build investor confidence in its long-term value [120]. - The company held 3 shareholder meetings during the reporting period, with an investor participation rate of 57.19% for the first temporary meeting and 72.35% for the annual meeting [134][146]. - The board approved a performance-based incentive plan for executives, linking 30% of their bonuses to achieving specific financial targets [166].