东方精工：2023年年度报告(英文版)

GuangdongDongfangPrecisionScience&TechnologyCo.,Ltd. AnnualReport2023 【DateofDisclosure】28March2024 MessagetoOurShareholders Uponthepassofafruitfulyear,wearenowreadytoembarkonanewjourney! In2023,theworldisevolvinglikeneverbefore.Atthishistoricaljuncture,alongsideourdomesticandinternationalpartners,wehaveforgedaheadwithsteadfast,pragmaticmeasuresthathaveledto13consecutiveyearsofrobustmainbusinessgrowthsinceourIPO. Throughout13yearsofperseveranceandresilience,fromour2011debutonthestockmarketto2023,ouroperatingrevenuesoaredfromRMB360milliontoRMB4,746million,multiplyingbyovertwelvefold;grossprofitjumpedfromRMB89milliontoRMB659million,maintainingacompoundannualgrowthrate(CAGR)of18%;andnetprofitattributabletoourshareholdersleapedfromRMB76milliontoRMB433million,achievingaCAGRofcloseto16%.Today,DongfangPrecisionstandsasaglobalpowerhouse,withoperationsandassetsspanningAsia,Europe,andNorthAmerica.WithourbaseinChina,weprovideproductsandservicesforcustomersinover100countriesandregions.Bolsteredbythesynergyofworldwideresources,leading-edgedesignconcepts,andstrongR&Dcapabilities,ourhigh-endintelligentpackagingequipmentdivisionnowcommandsapproximately15%oftheglobalmarketofthisindustry,thelargestinChinaandthesecondlargestworldwide. Lookingback,whattrulyfillsuswithprideisnotmerelyhowDongfangPrecisionevolvedfromafollowerintoatrailblazerintheindustry,butalsothefactthatwehaveactivelypavedthewayandgarneredinvaluablelessonsforChineseprivateenterprisesventuringabroad.OureffortsincludecarryingoutoverseasM&As,andadeptlymanagingthesubsequentintegrationandoptimisationofacquiredforeignentities. In2014,westrategicallyacquiredFosber(nowFosberGroup)inItaly,aprofessionalmanufacturerofhigh-endcorrugatedcardboardproductionlines,therebyswiftlyintegratingupstreamanddownstreamsectorstoassumeleadershipintheglobalindustry.Subsequently,wetookoverEDF,atop-rankingmanufacturerofboxprintingandpackagingequipment,andTiruña(nowTiruñaGroup),Spain'sesteemedcorrugatedrollerandpressurerollermaker,alongwithAgnati(nowQcorr),anillustriousItalianproviderofcorrugatedcardboardproductionlines.Thesemovesculminatedinaprofoundsynergyamongintelligentcorrugatedcardboardproductionlines,intelligentcorrugatedboxprintingequipment,andauxiliaryintelligentsystemsfortheseequipment.Thisstrategicexpansionnotablyaugmentedourmarketshareandcorecompetencies,extendedthe reachofourindustrialchain,andunlockedaccesstopremiumoverseasassets,cutting-edgetechnologies,andsophisticatedmanagementexpertise. Capitalisingonourprofoundindustryinsights,foresightintomarkettrends,andclearstrategicdevelopmentgoals,coupledwithrobuststrategiccontrolandindustrialintegrationcapabilities,wehaveeffectivelyintegratedeachofourmergedandacquiredbusinesses.Thishasunleashedcontinuousindustrialchainsynergies.AsexemplifiedbyFosberGroupandParsunPower,followingstrategicempowermentbyourmanagementteam,FosberGrouphassurgedintoaphaseofrapidexpansion,registeringaCAGRofroughly15%inoperatingrevenueand26%innetprofitbetween2015and2023.Similarly,during2016to2023,ParsunPowerachievedaCAGRofaround20%inbothoperatingrevenueandnetprofit.Notably,ParsunPower'sChiNextIPOapplicationhasbeenapprovedbytheShenzhenStockExchange. Timewilltellall.Throughoutthepast13yearssinceourlisting,we'veconsistentlyheldthatfosteringenduringvalueoutweighsthechaseforfleetinggrowthspurts.Harnessingthepowerofcapitalfororganicgrowthandexternalexpansion,we'veceaselesslyenhancedourprowessinindustrialintegrationandempowerment,steadilyfortifyingandexpandingourcorebusinesseverystepoftheway. Ourrelentlesspursuitoflong-termvalue,coupledwithadherencetoindependentinnovationandactiveexpansion,hasshapedtoday'sDongfangPrecisionintoanindustryleader.ItequipsuswiththebackbonetonavigatethecurrentchangesanddrivetheimplementationofourFourthFive-YearStrategicPlan,ensuringlong-term,sustainable,androbustgrowth. Stepbystep,wekeepmovingforward! Asanindustryfrontrunner,DongfangPrecisionconstantlyheedscautionamidstprosperity.Tosustainperpetualgrowthmomentum,buildingonourpreviousthreefive-yearstrategicplans,in2023,wehaveadoptedastancethatsafeguardsour"stable"strategicfootingwhileconcurrentlyamassing"progressive"developmentalimpetus: Overthepastyear,weexercisedrigorouscostcontrol,maintainedstableoperations,concentratedonbolsteringandexpandingourcorebusiness,resultinginrecord-highrevenueandindustry-leadingnetprofitattributabletoourshareholdersbeforeexceptionalgainsandlossesforfourstraightyears. Overthepastyear,weboostedefficiencyandservicequality,cementedstrongtieswithkeyclients,andpersistentlydeliveredtop-notchproductsandservicestomid-to-largemanufacturersintheEuropeanandAmericanmarkets,therebyenhancingourbrandrecognitionandindustryswayin theoverseasarena. Overthepastyear,weintensifiedmarketingefforts,broadenedourmarketreach,proactivelyalignedwithnationalstrategies,andfortifiedourpresenceinBeltandRoadcountriesincludingAfrica,SouthAsia,andSoutheastAsia.Wesuppliedtheseregionswithhigh-endintelligentpackagingequipmentandservices,therebysubstantiallyexpandingthemarketscopeofourbusiness. Ov