Financial Performance - Revenue increased by approximately 52.7% to approximately RMB 1,610.2 million[3] - Gross profit increased by approximately 55.2% to approximately RMB 520.7 million, with a gross margin rising from approximately 31.8% to approximately 32.3%[3] - Profit attributable to equity holders of the parent was approximately RMB 102.5 million, with earnings per share of approximately RMB 6.39 (basic and diluted)[3] - Total comprehensive income for the year amounted to RMB 84.2 million, compared to RMB 18.8 million in the previous year[6] - The company reported a pre-tax profit of RMB 149,499,000 for 2024, up from RMB 124,115,000 in 2023, indicating improved profitability[26] - The pre-tax profit for the group in 2024 was RMB 122,185,000, compared to RMB 46,970,000 in 2023, representing a significant increase of 160.5%[34] - Net profit attributable to equity holders increased by approximately 225.4% from RMB 31.5 million for the year ended December 31, 2023, to approximately RMB 102.5 million for the year ending December 31, 2024, primarily due to increased revenue[90] Assets and Liabilities - Non-current assets totaled RMB 1,012.7 million, an increase from RMB 844.0 million in the previous year[8] - Current assets amounted to RMB 2,022.2 million, compared to RMB 1,993.4 million in the previous year[8] - Current liabilities increased to RMB 935.1 million from RMB 691.7 million in the previous year[9] - Net assets rose to RMB 1,996.0 million from RMB 1,921.7 million in the previous year[9] - Trade receivables increased to RMB 922,229,000 in 2024 from RMB 741,768,000 in 2023, reflecting a growth of 24.4%[40] - The total accounts receivable as of December 31, 2024, was RMB 961,069,000, up from RMB 787,071,000 in 2023[47] - Inventory increased by approximately 26.1% from RMB 229.9 million as of December 31, 2023, to approximately RMB 289.9 million as of December 31, 2024, primarily due to increased stock at year-end[91] Revenue Breakdown - Revenue from the sale of power electronic devices for 2024 reached RMB 1,610,209,000, a 52.5% increase from RMB 1,054,702,000 in 2023[21] - Revenue from conventional direct current transmission increased by about 90% compared to 2023[62] - Revenue from flexible transmission increased by approximately 371% compared to 2023[63] - In the electrified transportation sector, revenue decreased by about 14%, with electric vehicle revenue dropping by approximately 78%[65][66] - Revenue in the industrial and other sectors grew by 22%, with new energy generation and storage revenue increasing by about 52%[68][69] - The company's foreign market revenue reached approximately RMB 90,179 thousand, a growth of about 33% compared to 2023[71] Expenses and Costs - The cost of goods sold for 2024 was RMB 1,089,538,000, compared to RMB 719,174,000 in 2023, reflecting a significant increase in sales costs[26] - Financing costs rose to RMB 17,973,000 in 2024 from RMB 11,044,000 in 2023, driven by increased interest on bank loans and other borrowings[30] - Sales and distribution expenses increased by approximately 25.3% from RMB 84.6 million for the year ended December 31, 2023, to approximately RMB 106.0 million for the year ending December 31, 2024, primarily due to increased market expansion costs and the number of sales personnel[82] - Administrative expenses rose by approximately 15.6% from RMB 138.4 million for the year ended December 31, 2023, to approximately RMB 160.0 million for the year ending December 31, 2024, mainly due to increased business volume and management personnel[83] - R&D costs increased by approximately 21.0% from RMB 113.6 million for the year ended December 31, 2023, to approximately RMB 137.5 million for the year ending December 31, 2024, primarily due to increased R&D investments[84] Taxation - The effective corporate tax rate remains at 25% for 2024, with certain subsidiaries qualifying for a reduced rate of 15%[31] - Total tax expenses for the year 2024 amounted to RMB 36,741,000, an increase of 66.9% compared to RMB 22,008,000 in 2023[32] Shareholder Information - The company proposed a final dividend of HKD 0.01 per share for the year, totaling RMB 14,766,000, compared to no dividend in 2023[36] - The total number of shares repurchased in 2024 was 28,530,000, with the highest repurchase price reaching HKD 1.35 per share in October[106] - The board has proposed a final dividend of HKD 0.01 per share for the year ending December 31, 2024, compared to no dividend in 2023[114] - The annual general meeting is scheduled for June 6, 2025, to approve the proposed dividend and other matters[115] Corporate Governance - The company emphasizes adherence to corporate governance practices, having complied with the applicable code provisions for the year ending December 31, 2024[110] - The audit committee has reviewed the financial statements for the year ending December 31, 2024, ensuring compliance with accounting principles and internal controls[113] Future Outlook - The company aims to strengthen its R&D team and innovate technologies and products to seize opportunities in the energy technology revolution, focusing on sectors like DC transmission, electric vehicles, and renewable energy generation[104] - The company has initiated multiple projects in 2024, including the Saudi Central-South ±500 kV flexible direct current transmission project and the Gansu-Zhejiang ±800 kV ultra-high voltage flexible direct current transmission project[63]
赛晶科技(00580) - 2024 - 年度业绩