联创电子(002036) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was ¥9,847,738,457.14, a decrease of 9.95% compared to ¥10,935,371,441.46 in 2022[22]. - The net profit attributable to shareholders for 2023 was -¥992,386,862.62, representing a significant decline of 1,158.39% from ¥92,790,842.18 in 2022[22]. - The net cash flow from operating activities decreased by 72.57% to ¥210,261,979.13 in 2023, down from ¥766,679,421.14 in 2022[22]. - The basic earnings per share for 2023 was -¥0.93, a drop of 1,133.33% compared to ¥0.09 in 2022[22]. - Total assets at the end of 2023 were ¥15,278,098,957.57, an increase of 1.68% from ¥15,024,405,858.00 at the end of 2022[22]. - The net assets attributable to shareholders decreased by 26.03% to ¥2,810,199,420.00 in 2023 from ¥3,797,999,960.00 in 2022[22]. - The company reported a quarterly operating revenue of ¥2,758,162,908.24 in Q4 2023, following revenues of ¥1,957,751,460.56 in Q1, ¥2,242,054,578.06 in Q2, and ¥2,889,769,510.28 in Q3[27]. - The company recognized a total of ¥22,816,193.62 in non-recurring gains and losses for 2023, compared to ¥76,991,750.10 in 2022[29]. - The company reported a significant decrease in investment, with a total investment of ¥298,914,318.11 in the reporting period, down 66.58% from ¥894,386,084.75 in the previous year[77]. - The company reported a total revenue for the year 2023 of approximately ¥9.85 billion, a decrease of 9.95% compared to the previous year[57]. Business Operations and Strategy - The company has undergone a change in its main business focus from producing and selling hemp and lining fabrics to developing, producing, and selling touch display products and optical components[19]. - The company has multiple wholly-owned subsidiaries and joint ventures, including Jiangxi Lianchuang and LCE KOREA[12][13]. - The company has established a dedicated automotive display division, with several projects already in mass production[41]. - The company is focusing on the development of AR/VR technologies, which are expected to see accelerated growth due to increasing user experience and application maturity[36]. - The company is leveraging its technological advantages in glass lens and prism manufacturing to improve the market share of high-pixel lenses and OIS optical stabilization modules[42]. - The company has entered the supply chain of Xiaomi, expanding its customer base in the smartphone lens and imaging module market[42]. - The company is committed to international expansion, with plans to strengthen operations in the US and South Korea while establishing subsidiaries in Germany and Japan[96]. - The company plans to increase production capacity for automotive optical lenses to 240 million units annually and 60 million image modules, reallocating funds from the originally planned project[93]. - The company aims to enhance customer engagement through improved service offerings and digital platforms in the upcoming year[123]. Research and Development - The total R&D expenses for 2023 were approximately ¥566.54 million, an increase of 16.86% from the previous year[63]. - Research and development (R&D) investment amounted to CNY 1,052.94 million in 2023, representing a 14.69% increase from CNY 918.05 million in 2022, and accounting for 10.69% of total revenue[67]. - The number of R&D personnel increased by 23.44% to 1,622 in 2023, with a notable rise in the number of master's degree holders by 45.33%[67]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[163]. - The company is investing in research and development, allocating 96 million for new technology projects in 2024[123]. Market Trends and Challenges - The demand for automotive optical products continues to grow, driven by the rapid development of intelligent driving technology and the increasing number of cameras installed in vehicles[33]. - The global smartphone market experienced a decline in sales in 2023, but a significant recovery was noted in Q4, indicating a positive trend[34]. - The automotive electronics market is expected to grow significantly, supported by government policies and the increasing demand for intelligent connected vehicles[33]. - The company faces significant risks from economic fluctuations and industry competition, with potential declines in demand for optical and touch display products due to global economic pressures[98]. - Rising raw material costs are a concern, as they constitute a large portion of production costs, and geopolitical factors may impact supply and pricing[103]. Corporate Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[3]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[111]. - The company has a financial management center with an independent accounting system, ensuring no shared accounts with the controlling shareholder[119]. - The company has established a robust investor relations management system, providing equal access to information for all shareholders[116]. - The company has conducted internal control audits for its fundraising activities in 2023, ensuring compliance and risk management[147]. Environmental Responsibility - The company reported a total wastewater discharge of 18.57 tons/year, with ammonia nitrogen at 0.013 tons/year, meeting the standards set by the Qing Shan Lake wastewater treatment plant[175]. - The company has implemented a "clear sewage diversion" strategy for wastewater treatment, ensuring compliance with environmental standards[175]. - The company has established a reliable wastewater treatment process, ensuring that wastewater meets the standards before entering the municipal sewage system[175]. - The company has implemented measures to collect and treat various types of waste gases, ensuring compliance with environmental regulations[175]. - The company is focusing on reducing VOCs emissions by implementing advanced ventilation systems in production areas[178]. Employee Engagement and Development - The company has a total of 8,130 production personnel, 1,622 technical personnel, and 186 sales personnel among its workforce[149]. - The company has established a comprehensive training system focusing on practical and targeted training for employees[151]. - The company plans to implement a long-term incentive plan through an employee stock ownership plan to attract and retain talent[150]. - The company has created a new employee service center to enhance workplace culture and employee engagement, officially opened on September 26, 2023[185]. Shareholder Relations - The company plans to implement a stock incentive plan with a total of 470 million shares allocated for this purpose[125]. - The board of directors has approved a stock buyback plan, intending to repurchase shares worth up to 100 million to enhance shareholder value[123]. - The company has not proposed a cash dividend distribution plan for the current reporting period despite having positive distributable profits[154]. - The company distributed a cash dividend of RMB 0.090589 per 10 shares, totaling RMB 9,662,374.49 (including tax) for the 2022 fiscal year[152].