OMH(300486)2024-04-23 12:32Financial Performance - The company achieved operating revenue of 871.9764 million yuan, a decrease of 23.73% compared to the previous year[3]. - The net profit attributable to shareholders was -248.4358 million yuan, primarily due to decreased demand from downstream customers and project delays[3]. - The overall gross margin for the reporting period was 12.33%, down 11.8% from the previous year[3]. - The company's operating revenue for 2023 was ¥871,976,373.75, a decrease of 23.73% compared to ¥1,143,280,025.12 in 2022[26]. - The net profit attributable to shareholders for 2023 was -¥248,435,777.41, representing a decline of 645.89% from a profit of ¥45,510,028.05 in 2022[26]. - The cash flow from operating activities for 2023 was -¥207,038,330.96, a significant drop of 499.83% compared to ¥51,782,180.47 in 2022[26]. - The total assets at the end of 2023 amounted to ¥3,359,721,550.48, a decrease of 3.33% from ¥3,475,363,931.17 at the end of 2022[26]. - The basic earnings per share for 2023 was -¥0.61, down 654.55% from ¥0.11 in 2022[26]. - The company reported a quarterly revenue of ¥302,681,105.73 in Q4 2023, with a net profit attributable to shareholders of -¥241,422,482.44[28]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -¥285,420,398.25 for 2023, a decline of 807.24% from ¥40,356,706.87 in 2022[26]. - The company recorded a weighted average return on equity of -16.31% in 2023, down from 2.91% in 2022[26]. - The total net assets attributable to shareholders decreased by 15.36% to ¥1,397,087,370.38 at the end of 2023 from ¥1,650,697,227.70 at the end of 2022[26]. - The company reported non-recurring gains of ¥36,984,620.84 in 2023, compared to ¥5,153,321.18 in 2022[32]. Industry Trends - The smart manufacturing industry is projected to reach a market size of 3.92 trillion yuan in 2023, showing significant growth compared to previous years[37]. - The smart manufacturing equipment market is expected to exceed 2.97 trillion yuan in 2023, driven by the widespread application of automation and intelligent systems[37]. - In 2023, the total production of lithium batteries in China surpassed 940 GWh, representing a year-on-year growth of 25%[43]. - The automotive manufacturing industry achieved a production and sales volume of 30.16 million and 30.09 million vehicles in 2023, with a year-on-year increase of 11.6% and 12% respectively[44]. - The production and sales of new energy vehicles reached 9.587 million and 9.495 million units in 2023, reflecting a year-on-year growth of 35.8% and 37.9%[44]. - The steel manufacturing industry faced operational pressure in the first half of 2023, with crude steel production at 535.64 million tons, a year-on-year increase of 1.3%[45]. - The pharmaceutical manufacturing industry reported a revenue of 2.52057 trillion yuan in 2023, a decrease of 3.7% year-on-year, while total profit fell by 15.1%[46]. - The liquor manufacturing industry achieved a sales revenue of 1.08026 trillion yuan in 2023, with a year-on-year growth of 9.3%[47]. - The implementation of policies supporting the integration of logistics and manufacturing is expected to enhance efficiency and reduce costs in the logistics sector[39]. - The application of advanced technologies such as AI and 5G in smart logistics is anticipated to drive significant innovations and improvements in operational efficiency[42]. - In 2023, the petrochemical manufacturing industry achieved a revenue of CNY 15.95 trillion, a year-on-year decrease of 1.1%, while total profit reached CNY 873.36 billion, indicating a low-level recovery trend[48]. - The total output of crude oil and natural gas in China reached 416 million tons of oil equivalent, representing a year-on-year growth of 3.9%[48]. - The cold chain logistics demand in China was approximately 350 million tons in 2023, showing a year-on-year increase of 6.1%[49]. - The number of refrigerated trucks in China reached about 432,000, with a year-on-year growth of 12.9%[49]. - Investment in cold chain infrastructure construction was approximately CNY 58.55 billion, reflecting a year-on-year increase of 8.2%[49]. - The smart logistics market is expected to continue rapid growth, driven by the widespread application of IoT, big data, and AI technologies[50]. Company Strategy and Operations - The company focuses on providing comprehensive "logistics + information flow" solutions, including smart production systems and smart logistics warehousing systems[51]. - The smart logistics warehousing system integrates various technologies, including AGV and machine vision systems, to enhance operational efficiency across multiple industries[56]. - The company has developed a big data management platform that supports data governance and analysis, promoting business process optimization[73]. - The AGV scheduling system allows for unified management and task allocation for all vehicles, enhancing operational efficiency[80]. - The company utilizes a "make-to-order" procurement model for its large, non-standard, and customized equipment, aligning with industry practices[88]. - The procurement of basic raw materials is primarily based on orders, with a typical procurement cycle of about one week for common materials[90]. - The production model is "make-to-sell," where production plans are based on customer contracts and specifications[93]. - The company’s sales are primarily direct to customers, with a typical payment structure of 30% upfront, 30% upon delivery, 30% after final acceptance, and 10% after the warranty period[101]. - The TMS transportation management system integrates modern transportation, warehousing, and information management, providing full-process management services[83]. - The core hardware products include conveyors, stackers/elevators, shuttles, sorting machines, and intelligent handling robots[85][86]. - The company emphasizes local suppliers for basic raw materials to shorten procurement cycles and enhance supply reliability[90]. - The external processing of non-core operations is minimal, with a competitive market for outsourcing available[95]. - The company’s sales agreements often involve bidding, with pricing based on a cost-plus model considering market conditions and project specifics[100]. - The logistics management system aims to reduce inventory and material flow cycles, thereby lowering logistics costs and enhancing lean production[81]. - The company typically receives 30% of the total contract amount within one month after final acceptance and an additional 10% one year after acceptance, but actual payment periods are often longer due to customer practices[102]. - The company employs a direct sales model for its intelligent production systems, with installation and debugging handled by the company, while final acceptance is conducted by the end user or project partner[103]. - The company operates on a made-to-order basis, resulting in no inventory of goods during the reporting period[104]. - The core technology includes a real-time monitoring and edge computing system for factory logistics management, integrating with existing enterprise systems for enhanced operational efficiency[105]. - The company has developed a predictive maintenance solution that significantly reduces maintenance costs by monitoring automated warehouse equipment performance and predicting potential failures[106]. - The company’s multi-model high-precision servo automatic correction device enhances positioning accuracy for automotive industry applications[107]. - The company utilizes a strategy engine technology in its WMS software, offering customizable configuration strategies for inventory management[106]. - The company’s energy recovery technology allows for the recycling of energy generated during braking, contributing to energy savings[106]. - The company’s AI-driven scheduling system optimizes task allocation and traffic management for robotic systems, improving operational efficiency[106]. - The company emphasizes flexibility in its warehouse management system, allowing for easy adjustments based on customer needs[106]. Research and Development - The company has developed advanced AGV technologies, including 3D laser navigation and dynamic path planning, improving operational efficiency and adaptability[113]. - The company has a strong client base, including major global brands such as Mercedes-Benz, Audi, and BYD, reflecting its market leadership in intelligent logistics solutions[115]. - The company has a significant presence in the intelligent parking system market, utilizing 5G technology and advanced sensors to enhance urban parking management[115]. - The company has been recognized as a high-tech enterprise and has received multiple provincial technology advancement awards, underscoring its commitment to innovation[116]. - The company has a leading position in the automation of engineering machinery production, indicating its strong market share in this sector[115]. - The company is actively expanding into high-potential industries such as lithium battery and photovoltaic sectors, aiming to capture new business opportunities[114]. - The company has established a research institute focused on smart hardware, AI, and industrial internet, driving innovation and development in these key areas[116]. - The company established a joint R&D center with the China Engineering Physics Research Institute and signed a strategic cooperation agreement with Siemens to promote digital transformation in various industries[117]. - The company has three production bases, with the first covering 120 acres and a factory area of 40,000 square meters, the second covering 150 acres with a total building area of 145,000 square meters, and the third covering 40 acres with a factory area of 20,000 square meters[119]. - The company has made significant progress in internationalization, securing orders from leading overseas clients such as Daimler, Peugeot Citroën, Audi, and Michelin, enhancing its brand reputation in Southeast Asia[120]. - The company focuses on core competitiveness in intelligent logistics and automation technology, increasing R&D investment and optimizing product structure to meet growing market demands[123]. - The company has strengthened its overseas market expansion, particularly in Southeast Asia, Europe, and North America, by establishing branches and enhancing local partnerships[125]. - The company has increased its R&D investment ratio and optimized its R&D team, focusing on both fundamental research and application development to accelerate the commercialization of research outcomes[126]. - The company emphasizes technology standards and intellectual property protection, actively participating in industry standard formulation and patent applications to build a solid technological barrier[126]. - The company aims to enhance operational efficiency and reduce costs through internal management reforms and efficiency improvement measures[128]. - The company implemented comprehensive internal management process optimization, reducing unnecessary management layers and improving decision-making efficiency[129]. - Strict cost control mechanisms were established, enhancing resource allocation and utilization efficiency[129]. - Supply chain management was deeply optimized, resulting in reduced logistics and inventory costs through advanced management technologies[129]. - The company accelerated its digital transformation, utilizing AI and big data analysis to improve production automation and efficiency[129]. - In 2023, the company focused on upgrading existing products in the intelligent production system, enhancing stability and efficiency[132]. - New product developments include a heavy lifting sliding board system and an H-shaped steel friction conveyor system, aimed at improving market competitiveness[133]. - The company is developing a fresh product-specific intelligent sorting system to enhance user satisfaction and operational efficiency[136]. - A new high-performance stacker crane is being developed to meet increasing demands in the lithium battery industry, which is expected to grow significantly in the next 2-3 years[136]. - The company is collaborating with universities to advance core technologies in AGV products, focusing on visual positioning and multi-drive control systems[140]. Employee and Organizational Development - Employee health and work-life balance initiatives were enhanced, including flexible work arrangements and health programs[131]. - The number of R&D personnel increased by 5.61% from 196 in 2022 to 207 in 2023, representing 39.13% of the total workforce[164]. - R&D investment amounted to approximately ¥48.48 million in 2023, accounting for 5.56% of total revenue, up from 4.47% in 2022[164]. - The proportion of capitalized R&D expenses to total R&D investment rose to 16.53% in 2023 from 13.50% in 2022[165]. - The number of R&D personnel with a bachelor's degree increased by 9.35% from 139 in 2022 to 152 in 2023[164]. - The number of R&D personnel aged 30 and below decreased by 49.28%, while those aged 40 and above increased by 70.97%[164]. Project Management and Investment - The total amount of funds raised in 2019 through a private placement was CNY 22,500 million, with a net amount of CNY 20,858.96 million[179]. - As of the reporting period, CNY 4,295.63 million of the funds raised in 2022 has been used, with a cumulative total of CNY 19,287.34 million utilized[179]. - The cumulative amount of funds raised in 2022 through convertible bonds was CNY 57,000 million, with a net amount of CNY 55,920.61 million[179]. - The company has not engaged in any securities or derivative investments during the reporting period[177][178]. - The total amount of unused raised funds as of the reporting period is CNY 37,284.75 million, which is temporarily allocated for working capital[179]. - The company has not changed the purpose of the raised funds during the reporting period[179]. - There are no idle funds raised for more than two years[179]. - The company has ongoing projects with a total investment of CNY 335.2 million in smart equipment and automation[176]. - The company has a total of CNY 1,601.93 million in funds allocated for various construction projects[176]. - The company has a 100% self-financing rate for its ongoing projects[176]. - The total fundraising amount from the issuance of shares in 2019 was RMB 225 million, with a net amount of RMB 208.59 million after deducting underwriting fees[180]. - As of December 31, 2023, the remaining balance of the funds raised from the 2022 convertible bond issuance was RMB 372.85 million, with RMB 295.76 million allocated to cash management products[180]. - The company has permanently supplemented working capital with RMB 70.52 million from surplus funds raised in previous projects[180]. - The cumulative project investment from the 2022 convertible bond issuance was RMB 192.87 million, with a net interest income of RMB 6.51 million[180]. - The company temporarily supplemented working capital with RMB 100 million from idle funds, with RMB 50 million already repaid by December 25, 2023[180]. - The total investment amount for the project funded by the 2019 share issuance was RMB 211.06 million, with a cumulative net income of RMB 2.47 million[180]. - The company achieved a project completion status for the "Changzhou Haiden Efficient Energy-saving Automotive Coating Line Project," allowing for the efficient use of raised funds[180]. - The company plans to return the remaining RMB 50 million of temporarily supplemented working capital within 12 months[180]. - The total amount of funds raised from the 2022 convertible bond issuance was RMB 570 million, with a net amount of RMB 562.02 million after fees[180]. - The company has completed the closure of the special accounts for the funds raised from the 2019 share issuance, with a balance of zero as of December 31, 2023[180]. - The company reported a total commitment investment project amounting to 76,779 million, with a completion rate of 57.57%[181]. - The digital workshop construction project is now expected to be operational by October 2024, delayed from the original schedule due to various factors[181]. - The Shenzhen Dongjie Intelligent Technology Research Institute project is projected to be completed by June 2024, also facing delays[181]. - The company has invested 15,930 million in the Changzhou Haiden High-efficiency Energy-saving Automotive Coating Line project, which is 57.59% complete[181]. - The Changzhou Haiden R&D Center project has a completion rate of 99.00%, with an investment of 4,928 million[181]. - The company has allocated 8,000 million for the Shenzhen Dongjie Intelligent Technology Research Institute project, with a completion rate of 5.73%[181]. - The company’s liquidity has been supplemented with an additional 14,991 million, achieving a 100% completion rate[181]. - The overall investment projects have been impacted by macroeconomic fluctuations and public health events, causing delays in project timelines[181]. - The company has acknowledged that the digital workshop and research institute projects are behind schedule due to supply chain and construction challenges[181]. - The company plans to continue monitoring the situation and adjust timelines as necessary to ensure project completion[181]. - The company plans to increase the implementation subject and location of the "Digital Workshop Construction Project" funded by convertible bonds, with no change in total project investment or new production capacity[182]. - As of December 31, 2023, the company has temporarily supplemented working capital with 50 million RMB, with a commitment to return this amount by December 31, 2023[183]. - The company has utilized 150 million RMB of idle raised funds for temporary working capital, with all amounts returned within the stipulated time frames[183]. - The company has not reported any changes in the use of raised funds during the reporting period[184]. - There were no significant asset or equity sales reported during the period[185]. Future Outlook - The company reported a net profit of 3011.48 million yuan for the year 2023, compared to 125 million yuan in 2022, indicating a significant increase[186]. - The company anticipates unprecedented development and innovation in the smart logistics and intelligent manufacturing sectors in 2024, driven by advancements in AI, IoT, big data, and cloud computing[191]. - The government is promoting the activation of industrial mother machines to enhance new quality productivity, which will support the development of intelligent manufacturing and optimize economic structure[192]. - The company plans to leverage technological innovations such as AI, IoT, digital twin technology, and automation to improve production efficiency and reduce costs in 2024[194]. - The company’s subsidiary, Dongjie Haiden, reported a net profit of 124.91 million yuan, contributing significantly to the overall net profit[188]. - The company is focusing on enhancing its core competitiveness and building a modern economic system in line with national policies[192]. - The smart logistics and intelligent manufacturing sectors are expected to become highly integrated, automated, and intelligent, further driving the digital transformation of