XZB(603040)2025-04-28 10:15Financial Performance - The company achieved operating revenue of 680,282,123.88 RMB in 2024, representing a year-on-year increase of 16.63%[28]. - The net profit attributable to shareholders reached 211,605,056.95 RMB, up 14.76% compared to the previous year[28]. - The net profit after deducting non-recurring gains and losses was 189,175,133.55 RMB, reflecting a growth of 14.09% year-on-year[28]. - Basic earnings per share increased to 1.58 RMB, marking a 14.49% rise compared to 2023[29]. - The company reported a weighted average return on equity of 16.36%, an increase of 0.58 percentage points from the previous year[29]. - Operating costs increased to ¥327,210,823.56, reflecting a year-on-year rise of 20.22%[64]. - The company reported a total revenue of 5,058,570,000 with a year-over-year increase of 2.54%[120]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 6.00 per 10 shares (including tax), totaling RMB 81,544,701.60 (including tax) based on a total share capital of 136,517,896 shares after accounting for repurchased shares[8]. - The board of directors has approved the profit distribution plan for the fiscal year 2024 on April 25, 2025[8]. - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 27,261,927.20 (including tax) based on a total share capital of 136,309,636 shares after deductions[142]. - For the third quarter of 2024, the company will distribute a cash dividend of RMB 1.00 per 10 shares, amounting to RMB 13,630,963.60 (including tax) based on the same adjusted share capital[142]. - The cash dividend amount (including tax) is CNY 122.44 million, accounting for 57.86% of the net profit attributable to ordinary shareholders[146]. - The total dividend amount (including tax) is CNY 148.43 million, which represents 70.14% of the net profit attributable to ordinary shareholders[146]. - The cumulative cash dividend amount over the last three accounting years is CNY 243.50 million[148]. Corporate Governance - The company has established a robust corporate governance structure, ensuring clear responsibilities and effective supervision among shareholders, the board, and management[115]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[10]. - The company has not faced any penalties from securities regulatory agencies in the past three years[126]. - The company is committed to maintaining its independence and has implemented measures to ensure the separation of its operations from those of its controlling shareholders[115]. - The company will not engage in any related party transactions that could harm the interests of the company and its shareholders[169]. - The company has established a cash dividend policy, ensuring clarity and compliance with corporate governance standards[144]. Research and Development - The company has a strong R&D team specializing in cold precision forging technology and has achieved significant results in core technology innovation[51]. - The company has made significant advancements in research and development, focusing on core technologies such as hydraulic pillars and roller rocker arms[57]. - The company aims to enhance its R&D capabilities, focusing on applications in automotive thermal management and electric drive systems by 2025[103]. - The company is committed to improving employee training and recruitment to build a professional and international talent pool[105]. - The company invests heavily in R&D and technology transformation annually, but must continuously innovate to avoid product obsolescence due to rapid technological advancements in the automotive industry[110]. Market Position and Strategy - The company secured new projects with major clients such as Chery Automobile and Volkswagen, contributing to stable revenue growth[39]. - The company has established stable supply relationships with major clients in the bearing and automotive parts industries[40]. - The company is a leading player in the domestic cold precision forming sector, with a comprehensive R&D capability across the entire industry chain[49]. - The company intends to increase its market share in precision components for valve groups and valve drive groups, targeting new customers in the hybrid vehicle market[104]. - The company is exploring potential mergers and acquisitions to strengthen its market position[121]. Operational Efficiency - The company has implemented a new MES system to enhance management efficiency and improve production processes[43]. - The company has implemented a one-time forming process, enhancing product consistency and material utilization, which effectively reduces production costs[58]. - The company has established a stable market position in the precision valve components sector, with over 100 types of valve locks and 300 types of valve spring discs produced[54]. - The company has successfully expanded its customer base, securing projects with major automotive manufacturers such as SAIC Volkswagen and BYD[62]. Risks and Challenges - The company faces risks related to the performance of downstream industries, particularly in the automotive and motorcycle sectors, which are closely tied to macroeconomic conditions[106]. - The company faces increasing market competition risks as automotive manufacturers accelerate the development of new vehicles, particularly in the electric vehicle sector, requiring timely supply and advanced development capabilities[108]. - Fluctuations in the prices of raw materials such as aluminum, copper, and titanium alloys could pose operational risks if supply is delayed or prices rise significantly[112]. - The company is under pressure to develop new products within shorter timeframes to meet customer demands, which poses operational risks if there are design errors or delays in developing supporting products[111]. Employee and Management - The company has a total of 786 employees, with 520 in the parent company and 266 in major subsidiaries[139]. - The employee composition includes 492 production personnel, 11 sales personnel, 158 technical personnel, and 16 financial personnel[139]. - The company has appointed new management personnel, including a new CFO effective April 25, 2024[121]. - The remuneration for directors and senior management is determined based on industry standards and peer companies[124]. Environmental and Social Responsibility - The company invested 625,900 CNY in environmental protection during the reporting period[159]. - The company reduced carbon emissions by 3,402.65 tons through the implementation of photovoltaic power generation projects[164]. - The company made a total donation of 45,000 CNY to various charitable organizations, including the Red Cross Society and local charity associations[165].