Summary by Moomoo AI
Due to the decline in global smartphone sales, Qu Titanium Technology 2023 annual earnings decreased 8.9% year-on-year to approximately RMB12,530,799,000, according to the announcement of annual results. The gross profit margin rose slightly to 4.1% at about RMB508,856,000. Profit for the full year was approximately RMB83,531,000, down 50.9% year-on-year, driven by a drop in operating income and widening losses at affiliated companies. Basic and diluted earnings per share were RMB0.069. Bank borrowings increased to approximately RMB4,370,999,000 and cash and cash equivalents increased to approximately RMB2,893,084,000. The Company has not distributed any final dividend and continues to focus on environmental protection and corporate governance.