INVT(SZ:002334)2025-04-07 12:45Financial Performance - The company's operating revenue for 2024 was ¥4,321,639,437.79, a decrease of 5.84% compared to ¥4,589,862,819.96 in 2023 [20]. - The net profit attributable to shareholders for 2024 was ¥286,655,281.87, down 22.81% from ¥371,353,080.86 in 2023 [20]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥259,881,293.03, a decline of 16.82% from ¥312,441,316.24 in 2023 [20]. - The net cash flow from operating activities for 2024 was ¥415,098,129.08, a decrease of 31.77% compared to ¥608,362,640.72 in 2023 [20]. - The basic earnings per share for 2024 was ¥0.3602, down 23.02% from ¥0.4679 in 2023 [20]. - The diluted earnings per share for 2024 was ¥0.3599, a decrease of 22.57% from ¥0.4648 in 2023 [20]. - The weighted average return on equity for 2024 was 10.18%, down 4.67% from 14.85% in 2023 [20]. - In 2024, the company achieved total revenue of 4.322 billion yuan, a decrease of 5.84% compared to the previous year [71]. - The company's net profit attributable to shareholders was 287 million yuan, down 22.81% year-on-year [71]. Market Trends and Projections - The industrial automation market in China is projected to reach ¥285.9 billion in 2024, reflecting a year-on-year decline of 1.7% [32]. - The low-voltage inverter market is expected to be approximately ¥28.28 billion in 2024, showing a year-on-year decrease of 7% [32]. - The UPS market in China is projected to reach approximately 10.64 billion yuan in 2024, representing a year-on-year growth of 9% [37]. - The precision air conditioning market is expected to reach about 9.91 billion yuan in 2024, with a year-on-year growth of 13.3% [37]. - In 2024, China's new energy vehicle production and sales are expected to exceed 12.88 million units, maintaining the global leading position for ten consecutive years [40]. - The domestic sales of new energy passenger vehicles are projected to reach 11.05 million units in 2024, a year-on-year increase of 40.2% [40]. - The photovoltaic industry in China saw a new installed capacity of 278 million kilowatts in 2024, a year-on-year increase of 28% [42]. - By the end of 2024, the total installed capacity of photovoltaic power generation in China is expected to reach 886 million kilowatts, a year-on-year increase of 45% [42]. Product Development and Innovation - The company is focusing on expanding its product offerings in energy efficiency and automation solutions, aligning with national policies aimed at industrial upgrades and carbon neutrality [34]. - The integration of AI in industrial automation is driving the sector towards smarter solutions, enhancing productivity and efficiency [35]. - The company invested CNY 439 million in R&D in 2024, with a R&D expense ratio of 10.16%, and has accumulated 2,006 patents and software copyrights [67]. - The company is committed to innovation in its product offerings, including the development of integrated electric control products for commercial vehicles [79]. - The company launched new products in various sectors, including a new generation of high-performance UPS systems and liquid cooling solutions for data centers [77]. - The company has developed a new generation of light truck platform multi-in-one products, achieving a 50% completion rate, with a projected average sales revenue of 200 million over the next three years [97]. Risk Management - The company faces potential risks including macroeconomic and policy risks, competition risks due to core technology and talent shortages, and supply chain risks [5]. - The company has established a strict risk control framework for foreign exchange derivatives to mitigate operational and legal risks [118]. - The company will implement foreign exchange risk management strategies to address potential impacts from currency fluctuations as its export business grows [143]. - The company will strengthen its supply chain management and risk assessment frameworks to mitigate potential disruptions from geopolitical tensions and market fluctuations [140]. Corporate Governance and Investor Relations - The company held 10 board meetings, 9 supervisory meetings, and 3 shareholder meetings during the reporting period, ensuring compliance with legal regulations [151]. - The company received investors for research 22 times and responded to 122 investor inquiries through the Shenzhen Stock Exchange's interactive platform [154]. - The company has established a robust investor communication mechanism, utilizing multiple channels to engage with investors effectively [154]. - The company has integrated its nomination and remuneration committees into a single committee to optimize governance efficiency [151]. - The company emphasizes the protection of minority investors' rights by conducting separate voting counts for their votes during shareholder meetings [155]. Employee and Organizational Development - The total number of employees at the end of the reporting period is 4,980, with 2,352 in the parent company and 2,628 in major subsidiaries [197]. - The professional composition includes 1,893 production personnel, 971 sales personnel, 1,278 technical personnel, 83 financial personnel, and 755 administrative personnel [197]. - The company is focusing on a performance-driven compensation policy to align employee performance with company goals [198]. - In 2024, the company plans to review bonus policies across business units to create targeted and differentiated bonus extraction rules [198]. - The company is committed to building a learning organization and has established a team of internal trainers for knowledge transfer and guidance [199].