Sinexcel Electric(300693)2025-04-02 10:55Financial Performance - The company's operating revenue for 2024 reached ¥3,036,170,730.45, representing a 14.53% increase compared to ¥2,650,974,131.70 in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥428,975,205.06, a 6.49% increase from ¥402,827,219.68 in 2023[21]. - The net profit after deducting non-recurring gains and losses was ¥416,780,133.47, up 9.48% from ¥380,693,375.73 in 2023[21]. - The total assets at the end of 2024 amounted to ¥3,670,801,749.29, a 9.65% increase from ¥3,347,712,570.71 at the end of 2023[21]. - The net assets attributable to shareholders increased by 25.18% to ¥1,817,965,576.66 at the end of 2024, compared to ¥1,452,276,368.00 at the end of 2023[21]. - The basic earnings per share for 2024 was ¥1.3843, reflecting a 6.08% increase from ¥1.3049 in 2023[21]. - The cash flow from operating activities for 2024 was ¥363,657,398.06, a decrease of 17.08% from ¥438,569,089.31 in 2023[21]. - The weighted average return on equity for 2024 was 26.39%, down from 31.80% in 2023, indicating a decrease of 5.41%[21]. - The company achieved a total revenue of ¥3,036,170,730.45, representing a year-on-year growth of 14.53%[88]. - The net profit attributable to shareholders was ¥428,975,205.06, with a year-on-year increase of 6.49%[88]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares to all shareholders, based on a total share capital of 310,332,260 shares after deducting repurchased shares[3]. - The company has a profit distribution plan that reflects its commitment to returning value to shareholders while maintaining financial stability[3]. - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares, totaling 155.17 million RMB, which represents 36.17% of the net profit for 2024[165]. - Over the past three years, the cumulative cash dividend reached 303 million RMB, accounting for 28.69% of the total net profit during that period[165]. Market Expansion and Product Development - The company is focused on expanding its market reach and enhancing its product offerings through ongoing research and development initiatives[15]. - The company aims to enhance its market share in power quality products, focusing on harmonic governance and voltage drop solutions, aiming for comprehensive coverage in low, medium, and high voltage sectors[146]. - The company aims to expand its electric vehicle charging services, targeting both domestic and overseas markets, with a focus on developing high-efficiency charging modules[147]. - The company is committed to increasing its presence in the energy conversion equipment sector, particularly in grid-side and user-side projects, while also exploring international market opportunities[148]. - The company is actively pursuing new strategies for market expansion and product development to enhance its competitive position[186]. Research and Development - The company maintained a research and development investment of approximately 8.46% of total revenue, amounting to ¥25,674.53 million in 2024[91]. - The company has allocated RMB 500 million for research and development in new energy projects, emphasizing its commitment to innovation[142]. - The company has increased its R&D personnel to 699, representing an 8.37% increase from 645 in 2023, with R&D personnel now accounting for 28.14% of the workforce[113]. - R&D investment for 2024 is reported at ¥256,745,333.26, up from ¥231,001,103.86 in 2023, indicating a continued commitment to innovation[113]. - The company has a clear product roadmap focusing on technological advancements and core competitiveness in the battery testing and formation equipment market[75]. Risk Management - The company acknowledges risks including macroeconomic risks, industry risks, declining gross margins, and accounts receivable risks, with detailed measures outlined in the management discussion section[3]. - The company has outlined its future development outlook, which includes addressing identified risks and leveraging opportunities in the market[3]. - The company has implemented a cash dividend plan for the next three years (2023-2025), with a total cash dividend of RMB 302.7364 million over the past three years, accounting for 28.69% of the total net profit during this period[177]. Corporate Governance - The company has established a governance structure with 8 board members, including 3 independent directors, and held 9 board meetings during the reporting period[172]. - The company has a comprehensive and independent financial management system, ensuring independent accounting and financial decision-making[179]. - The company has established specialized committees within the board, with independent directors holding a two-thirds majority in key committees[172]. - The company is focused on enhancing its internal control and risk prevention capabilities to improve operational governance[170]. - The management team is committed to maintaining transparency and accountability in its operations and decision-making processes[186]. Industry Trends and Market Insights - The photovoltaic industry in China is experiencing growth, with a 28% year-on-year increase in new installations, totaling 277.57 GW in 2024[34]. - The number of electric vehicles in China reached 31.4 million by the end of 2024, an increase of 1099 million vehicles, with charging pile ownership growing by 49% to 12.818 million[35]. - The global push for electric vehicle infrastructure is driven by government incentives and policies aimed at reducing emissions[44]. - The market for charging stations is still in a high growth phase, with significant room for penetration and expansion[43]. - The company is positioned to benefit from government policies promoting the construction of charging infrastructure, which is expected to expand the market share of charging piles[39]. Financial Management and Investment - The company has confirmed that all raised funds are stored in a dedicated account system[130]. - The total amount of funds raised was 328.92 million RMB, with a net amount of 295.92 million RMB after deducting issuance costs of 33.00 million RMB[130]. - The company has not engaged in derivative investments during the reporting period[129]. - The investment progress for the committed projects is at 122.62% of the total amount planned for investment[131]. - The company has not changed the use of raised funds during the reporting period[131].