SBT(688392)2025-04-11 12:20Financial Performance - The company's operating revenue for 2024 reached approximately RMB 584.55 million, representing an increase of 11.30% compared to RMB 525.19 million in 2023[24]. - Net profit attributable to shareholders for 2024 was approximately RMB 85.87 million, a growth of 29.04% from RMB 66.54 million in 2023[25]. - Basic earnings per share for 2024 were RMB 0.76, reflecting a 31.03% increase from RMB 0.58 in 2023[24]. - The total amount for cash dividends and share repurchase is approximately 173.16 million CNY, accounting for 201.66% of the net profit attributable to shareholders for the year[5]. - The company achieved operating revenue of 584.55 million yuan in 2024, representing an 11.30% increase compared to 2023[196]. Cash Flow and Assets - The net cash flow from operating activities for 2024 was negative RMB 54.38 million, a significant decline compared to positive RMB 9.76 million in 2023, marking a decrease of 657.35%[25]. - As of the end of 2024, the total assets amounted to approximately RMB 2.13 billion, down 2.16% from RMB 2.17 billion at the end of 2023[25]. - The net assets attributable to shareholders decreased by 3.42% to approximately RMB 1.69 billion at the end of 2024, compared to RMB 1.75 billion at the end of 2023[25]. - Cash and cash equivalents decreased by 31.77% to CNY 852.37 million, primarily due to increased investments in financial products and long-term asset acquisitions[122]. - The company's accounts receivable increased by 73.32% to CNY 336.90 million, attributed to revenue growth and slower collection of sales payments[122]. Research and Development - Continuous investment in research and development for new technologies is a priority to maintain competitive advantage in the industry[16]. - The company's R&D expenditure accounted for 21.65% of operating revenue, a decrease of 0.71 percentage points compared to the previous year[26]. - R&D investment amounted to 126.57 million yuan, up 7.78% year-on-year, representing 21.65% of total revenue[41]. - The company has developed a core technology platform centered on ultrasonic technology, which includes six foundational R&D technologies, achieving international advanced levels in key innovations such as integrated wedge welding technology and ultrasonic metal welding quality monitoring technology[65]. - The company is focusing on expanding its ultrasonic technology applications in hydrogen energy, medical, and aerospace industries[75]. Market and Product Development - The company is focused on expanding its product offerings in ultrasonic technology, which is expected to drive future revenue growth[16]. - The automotive wire harness market is projected to reach approximately 376.3 billion yuan by 2026, indicating significant growth potential for the company's products[39]. - Revenue from the wire harness connector ultrasonic equipment business surged by 352.37% to 81.34 million yuan, driven by the growing demand in the automotive sector[39]. - The company launched new ultrasonic products for the new energy battery sector, including large-diameter wedge welding machines and CCS welding machines, which have received bulk orders[42]. - The company has established partnerships with major universities to enhance R&D capabilities and accelerate the commercialization of technological achievements[42]. Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not violated decision-making procedures for providing guarantees[9]. - The company has received a standard unqualified audit report from the accounting firm Rongcheng[4]. - The company has not experienced any changes in governance arrangements or other significant matters[7]. - The company has established a comprehensive internal control management system to ensure effective operation and compliance[200]. Shareholder and Remuneration Policies - The company plans to distribute a cash dividend of 3.50 CNY per 10 shares, totaling approximately 39.16 million CNY, which represents 45.61% of the net profit attributable to shareholders for 2024[5]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 533.49 million[162]. - The company has a remuneration policy that considers regional and industry standards, as well as the company's actual situation[162]. - The remuneration for senior management is determined by the board of directors, while the remuneration for directors and supervisors is decided by the shareholders' meeting[161]. - The company has established a clear decision-making process for remuneration, ensuring transparency and accountability in its governance[161]. Risks and Challenges - The company has outlined potential risks in its report, advising investors to be cautious[8]. - The company faces risks related to high customer concentration and reliance on major clients, which could impact its business if product quality or performance does not meet client standards[86]. - The company anticipates that if it fails to innovate and meet market demands, its overall gross margin may decline due to competitive pressures and rising costs[89]. - The company has implemented strict internal controls to protect its core technologies, but risks of technology leakage still exist due to potential employee turnover[84]. - The company faced risks related to tax policy changes, which could adversely affect net profit if it fails to maintain its high-tech enterprise status[90].