CVTE(002841)2024-04-24 13:26Financial Performance - The company's operating revenue for 2023 was ¥20,172,636,290.28, a decrease of 3.90% compared to ¥20,990,265,073.39 in 2022[16]. - The net profit attributable to shareholders for 2023 was ¥1,370,001,016.36, down 33.89% from ¥2,072,418,661.24 in 2022[16]. - The net profit after deducting non-recurring gains and losses was ¥1,161,053,572.39, a decline of 35.83% from ¥1,809,216,233.23 in 2022[16]. - The net cash flow from operating activities was ¥1,115,900,535.31, a significant drop of 52.84% compared to ¥2,366,010,316.51 in 2022[16]. - The basic and diluted earnings per share for 2023 were both ¥1.97, representing a decrease of 35.41% from ¥3.05 in 2022[16]. - The total assets at the end of 2023 were ¥21,805,599,936.99, an increase of 8.22% from ¥20,148,494,053.20 at the end of 2022[16]. - The net assets attributable to shareholders increased by 4.45% to ¥12,473,387,200.99 at the end of 2023 from ¥11,941,452,865.56 at the end of 2022[16]. - The company achieved a revenue of CNY 2,017,263.63 million in 2023, a year-on-year decrease of 3.90%[69]. - The net profit attributable to shareholders was CNY 137,000.10 million, down 33.89% year-on-year[69]. Dividend Policy - The company reported a cash dividend of 8.5 yuan per 10 shares, based on a total of 696,177,385 shares[4]. - The total cash dividend amount for the year is 591,750,777.25 CNY, which represents 100% of the total profit distribution[175]. - The company plans to distribute a cash dividend of 8.5 CNY per 10 shares, based on a total share base of 696,177,385 shares[175]. - The company has committed to distributing at least 30% of its distributable profits in cash dividends annually, provided it is profitable and meets operational funding needs[195]. Business Operations - The company has a total of 100% ownership in several subsidiaries, including Guangzhou Shiyuan Electronic Technology Co., Ltd.[7]. - The company has a total of 10 subsidiaries, all of which are fully owned[7]. - The company is actively expanding into new business areas such as LED, computing devices, and robotics, indicating a broad market potential[22]. - The company has established global subsidiaries in the US, India, and the Netherlands, and localized teams in 18 countries and regions[57]. - The company has expanded its automotive electronics business by acquiring Shenzhen Zhangrui Electronics Co., which provides integrated solutions for the smart cockpit market[35]. - The company has established several new subsidiaries during the reporting period, expanding its operational scope[88]. - The company acquired 51% of Shenzhen Zhangrui Electronics Co., Ltd. and 100% of Guangzhou Zhiyuan Property Management Co., Ltd., gaining actual control over these entities[198]. Market Position - The company has maintained a leading position in the global LCD TV main control board market, with sales of 67.72 million units in 2021, 67.22 million units in 2022, and 56.23 million units in 2023, representing 31.57%, 33.19%, and 28.18% of global shipments respectively[24]. - The company’s education brand, Seewo, has maintained the top market share in China's interactive smart panel industry for 12 consecutive years, covering 8 million teachers[27]. - MAXHUB brand has ranked first in China's conference panel market for 7 consecutive years, focusing on smart collaboration solutions[29]. - The market share of the Seewo interactive smart panel in the education sector reached 50.2%, maintaining the leading position[71]. - MAXHUB's market share in the domestic IFPD conference market increased to 29%, maintaining the leading position for seven consecutive years[76]. Research and Development - The company invested CNY 143.68 million in R&D, accounting for 7.12% of its annual revenue[61]. - The company holds over 9,000 authorized patents, including more than 2,000 invention patents, and applied for over 2,000 patents in the reporting period[61]. - The company’s focus on R&D and innovation has been pivotal in maintaining its competitive edge in the rapidly evolving technology landscape[24]. - The number of R&D personnel increased to 2,944 in 2023, up 11.30% from 2,645 in 2022, with R&D personnel accounting for 43.42% of the total workforce[96]. - R&D investment amounted to approximately ¥1.44 billion in 2023, representing a 12.17% increase from ¥1.28 billion in 2022, and accounting for 7.12% of total revenue[97]. Corporate Governance - The company has an independent board and supervisory committee, ensuring no interference from actual controllers in decision-making[139]. - The company has established a strategic committee to enhance its ESG governance framework, reflecting its commitment to sustainable development[162]. - The company has implemented a comprehensive training program for employees, focusing on professional skills and management capabilities, with plans for customized training sessions in 2024[167]. - The company has a structured process for evaluating and approving the remuneration of directors and senior management, ensuring transparency and accountability[156]. - The company has maintained normal performance in fulfilling its commitments related to the acquisition of Xinhui Vision[193]. Sustainability and ESG - The company is committed to reducing carbon emissions and has established a carbon footprint system as part of its "green" initiatives[79]. - The company has implemented measures to reduce carbon emissions, as detailed in the upcoming ESG report[189]. - The company emphasizes sustainable development and continuously improves its ESG practices across governance, innovation, product quality, and social responsibility[137]. Strategic Initiatives - The company is actively pursuing overseas market expansion, leveraging its technology and R&D capabilities to build a localized operational and service system[127]. - The company plans to deepen collaboration with strategic partners like Intel and Microsoft to enhance product competitiveness through AI technology[130]. - The company aims to enhance user experience through continuous product innovation and technical accumulation in various fields, including audio-visual technology and human-computer interaction[32]. - The company is focusing on digital education tools and services, with a commitment to continuous product innovation driven by AI technology[126]. Risk Management - The company faces risks related to supply chain fluctuations, particularly in raw material costs, and plans to implement strategic inventory management[132]. - The company recognizes foreign exchange exposure risks due to its international operations and will engage in hedging activities to mitigate these risks[133].