潍柴动力(02338) - 2024 - 年度业绩

Financial Performance - Revenue for the year ended December 31, 2024, was approximately RMB 215,691 million, an increase of about 0.8% compared to the previous year[3] - Net profit attributable to shareholders of the parent company was approximately RMB 11,403 million, representing an increase of approximately 26.5%[3] - Basic earnings per share were approximately RMB 1.31, up by approximately 25.4%[3] - Operating profit for the year was RMB 17,321 million, compared to RMB 13,151 million in the previous year, reflecting a significant increase[4] - The company achieved a net profit of RMB 14,278 million, compared to RMB 11,212 million in the previous year, indicating strong overall performance[4] - Total revenue for 2024 reached CNY 15,730,343,333.20, an increase of 29.5% compared to CNY 12,173,391,466.12 in 2023[5] - Net profit attributable to shareholders for 2024 was CNY 1,535,060,989.93, up from CNY 375,112,554.70 in 2023, representing a significant growth[5] - Basic and diluted earnings per share for 2024 were both CNY 1.31, compared to CNY 1.04 in 2023, indicating a 26% increase[5] - The company reported a significant increase in other comprehensive income, with a net amount of CNY 1,709,743,990.92 in 2024 compared to CNY 450,995,017.09 in 2023[5] - The company’s net profit margin improved significantly, with profit growth outpacing revenue growth, indicating strong operational efficiency[73] Cost Management - The company reported a decrease in operating costs to RMB 167,305 million from RMB 170,437 million, indicating improved cost management[4] - Financial expenses decreased to RMB 230 million from RMB 560 million, showing improved financial management[4] - The cost of goods sold for the year was RMB 167,304,917,397.32, down from RMB 170,437,251,422.34, indicating a decrease of approximately 1.3%[45] - Selling expenses increased from approximately RMB 11,815 million in 2023 to about RMB 12,485 million in 2024, a rise of approximately 5.7%[100] - Management expenses rose from approximately RMB 9,457 million in 2023 to about RMB 10,259 million in 2024, an increase of about RMB 802 million or 8.5%[101] Asset Management - Total current assets decreased to CNY 184,749,684,708.12 in 2024 from CNY 197,925,301,358.43 in 2023, a decline of approximately 6.3%[6] - Cash and cash equivalents were CNY 72,066,926,728.68 in 2024, down from CNY 92,856,868,996.26 in 2023, reflecting a decrease of about 22.5%[6] - Accounts receivable increased to CNY 30,877,182,388.79 in 2024, up from CNY 23,753,999,010.24 in 2023, showing a growth of 29.5%[6] - Total non-current assets rose to CNY 159,129,727,839.42 in 2024, compared to CNY 136,321,911,666.48 in 2023, marking an increase of 16.7%[6] - The total assets of the company reached CNY 343,879,412,547.54 in 2024, up from CNY 334,247,213,024.91 in 2023, indicating a growth of 2%[6] Liabilities and Equity - Total liabilities increased slightly to approximately 221.92 billion from 221.56 billion year-over-year, reflecting a growth of 0.16%[7] - Current liabilities rose to approximately 154.84 billion, up from 146.05 billion, marking an increase of 6.03%[7] - Non-current liabilities decreased to approximately 67.08 billion from 75.51 billion, a decline of 11.43%[7] - Total equity attributable to shareholders increased to approximately 86.70 billion from 79.34 billion, representing a growth of 9.66%[8] - Retained earnings grew to approximately 59.85 billion from 55.18 billion, an increase of 8.83%[8] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[4] - The company aims to enhance its competitive edge by focusing on high-end product development and expanding into overseas markets[82] - The company plans to accelerate the development of new energy business and strengthen integration with existing advantageous resources[82] - The company is committed to improving its governance and risk management systems to ensure operational stability[83] Research and Development - Research and development expenses were RMB 8,299 million, slightly up from RMB 8,045 million, highlighting continued investment in innovation[4] - The company invested over RMB 3.2 billion in R&D for the engine segment, with an R&D intensity of nearly 6%[91] - The company established the largest multi-source power comprehensive testing laboratory globally, enhancing its R&D capabilities[75] Shareholder Information - The company plans to distribute a cash dividend of RMB 3.47 per 10 shares for the 2024 fiscal year, based on a total of 8,715,671,296 shares[80] - The top five customers accounted for less than 30% of the total sales of the group during the year[162] - The top five suppliers accounted for less than 30% of the total purchases of the group during the year[163] Corporate Governance - The audit committee is composed of independent non-executive directors, chaired by Ms. Jiang Yan, who possesses appropriate professional qualifications as required by the Listing Rules[176] - The company has adhered to all provisions of the Corporate Governance Code as outlined in Appendix C1 of the Listing Rules during the year[177] - KPMG was appointed as the auditor on June 28, 2023, replacing Deloitte, and a resolution will be proposed at the upcoming annual general meeting to reappoint KPMG for the fiscal year 2025[180] Future Outlook - The company plans to achieve sales revenue of approximately RMB 226.5 billion to RMB 237.3 billion in 2025, representing a growth of 5% to 10% compared to 2024[97] - For 2025, the revenue target is set at RMB 231.2 billion, with a sales profit margin of at least 9%[167] - By 2026, the company expects to achieve a revenue of no less than RMB 258.9 billion, maintaining a sales profit margin of at least 9%[167]