GOTION(002074)2025-04-24 16:20Dividend Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued [5]. - The company reported a cash dividend distribution of 178,883,664.80 CNY, which accounts for 14.82% of the net profit attributable to shareholders for the fiscal year 2024 [189]. - The total cash dividend amount, including other methods, reached 478,922,966.81 CNY, representing 100% of the total profit distribution [189]. - The company plans to distribute a cash dividend of 1 CNY per 10 shares (including tax), with no stock dividends or capital increases proposed [189]. Business Transformation and Strategy - The company has undergone a significant business transformation since 2015, shifting from a single focus on power distribution equipment to dual operations in power lithium batteries and energy storage batteries [19]. - The company has segmented its lithium battery business into two categories: power battery systems and energy storage battery systems as of 2022 [19]. - The company is actively expanding its international presence, with operational bases in Thailand and Vietnam, and is accelerating the construction of additional overseas bases [52]. - The company is focusing on technological innovation in the power distribution and transmission equipment sector, maintaining stable growth and capturing a certain market share [37]. - The company is leveraging policies aimed at carbon neutrality and renewable energy development to capture significant market opportunities in the new energy sector [48]. Financial Performance - The company's operating revenue for 2024 reached ¥35.39 billion, an increase of 11.98% compared to ¥31.61 billion in 2023 [21]. - Net profit attributable to shareholders for 2024 was ¥1.21 billion, reflecting a growth of 28.56% from ¥938.73 million in 2023 [21]. - The cash flow from operating activities amounted to ¥2.71 billion, up 11.86% from ¥2.42 billion in 2023 [21]. - The total assets at the end of 2024 were ¥107.84 billion, representing a 15.22% increase from ¥93.59 billion at the end of 2023 [22]. - The net assets attributable to shareholders increased to ¥25.96 billion, a rise of 3.56% from ¥25.07 billion at the end of 2023 [22]. Market Outlook and Growth Projections - The global power lithium battery shipment in 2024 is projected to be 998 GWh, a year-on-year growth of 15.4% [32]. - The domestic sales of new energy vehicles in China for 2024 are expected to reach 11.58 million units, a 39.7% increase compared to the previous year [32]. - The global energy storage lithium battery shipment is forecasted to be 369.8 GWh in 2024, marking a 64.9% increase year-on-year [33]. - The global demand for new energy vehicles is expected to reach 18.236 million units in 2024, representing a year-on-year growth of 24.4%, with China accounting for over 70% of this market [49]. Research and Development - The company has established eight R&D centers globally, enhancing its technological innovation capabilities and competitive edge [55]. - Total R&D investment reached approximately $2.93 billion, up 5.83% from the previous year [81]. - The company has applied for a total of 10,556 patents, including 4,622 invention patents, and has participated in the formulation of 92 industry standards [55]. - Research and development investment reached RMB 2.929 billion, focusing on solid-state battery technology and accelerating the industrialization of research outcomes [129]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report, urging investors to understand the differences between plans, forecasts, and commitments [5]. - The company has detailed potential major risks and corresponding countermeasures in its management discussion and analysis section [5]. - The company has implemented a risk management system for derivatives trading, which includes clear operational principles and approval authority [97]. - The company is addressing raw material price fluctuation risks by optimizing supply chain management and exploring new battery materials [121]. Corporate Governance - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations [141]. - The company has established an independent financial accounting department with a standardized financial management system, ensuring no shared bank accounts with controlling shareholders [144]. - The board of directors held a total of 11 meetings during the reporting period, with the latest meeting on December 11, 2024 [173]. - The company’s governance practices align with relevant laws and regulations, ensuring compliance and effective oversight [176]. Employee and Talent Management - The total number of employees at the end of the reporting period is 25,575, with 536 in the parent company and 25,039 in major subsidiaries [181]. - The company has implemented an employee stock ownership plan and stock option incentive plan to attract and retain talent, enhancing motivation among management and core technical personnel [183]. - The workforce includes 13,107 production personnel, 669 sales personnel, and 8,796 technical personnel, reflecting a diverse professional composition [181]. - The company employs a three-tier training management system to enhance employee skills and capabilities, focusing on strategic implementation and talent development [185]. Strategic Partnerships and Market Position - The company has established long-term strategic partnerships with numerous well-known international new energy vehicle manufacturers, enhancing its market position in the power battery sector [38]. - The company has a robust international customer base, with significant projects secured in overseas markets [68]. - The company is targeting key international clients and expanding its market coverage, particularly in passenger vehicles, commercial vehicles, and energy storage [118]. Financial Liabilities and Investments - The total financial liabilities reported were ¥0.00, indicating no outstanding debts [89]. - The company reported a total investment amount of 674,292.72 million with a fair value change of 11,475.89 million during the reporting period [97]. - The company has committed to invest a total of 532.4 million yuan in the production of high-energy density lithium batteries, with 3,462.56 million yuan already invested [103].