远程股份(002692) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥4,447,368,703.95, representing a 38.92% increase compared to ¥3,201,485,979.87 in 2023[6]. - Net profit attributable to shareholders was ¥70,213,415.30, up 37.34% from ¥51,124,747.54 in the previous year[6]. - The net profit after deducting non-recurring gains and losses surged by 93.46% to ¥54,278,225.34 from ¥28,056,954.84 in 2023[6]. - The company's total assets increased by 16.29% to ¥3,159,860,196.33 at the end of 2024, compared to ¥2,717,166,531.72 at the end of 2023[6]. - The basic earnings per share rose to ¥0.0978, a 37.36% increase from ¥0.0712 in 2023[6]. - The company achieved a total sales revenue of 444,736.87 million yuan, a year-on-year increase of 38.92%, and a net profit attributable to the parent company of 70.21 million yuan, up 37.34% year-on-year[43]. - The company reported a total operating revenue of 4,447,368,703.95 yuan, with the power cable segment contributing 741,768,009.48 yuan, a 12.97% increase year-on-year[46]. - The special cable segment generated 3,362,377,402.51 yuan, reflecting a significant year-on-year growth of 45.78%[46]. Cash Flow and Financial Position - The net cash flow from operating activities showed a significant decline, with a net outflow of ¥59,588,044.04 compared to a net inflow of ¥76,429,593.57 in 2023, marking a 177.96% decrease[6]. - The total revenue for 2024 was significantly impacted by an increase in cash received from sales, resulting in a 33.99% increase in operating cash inflows to approximately CNY 4.60 billion compared to CNY 3.43 billion in 2023[63]. - Operating cash outflows rose by 38.82% to approximately CNY 4.66 billion, primarily due to increased cash payments for goods and services[64]. - The net cash flow from financing activities saw a remarkable increase of 1,323.29%, resulting in a net inflow of approximately CNY 339.20 million, reflecting an expanded financing scale[64]. - As of the end of 2024, cash and cash equivalents increased to ¥436,800,096.89, representing 13.82% of total assets, up from 6.43% at the beginning of the year, a change of 7.39%[66]. Research and Development - The company has made significant advancements in R&D, completing the development of 11 new products and achieving industrialization for 9 products[45]. - Research and development expenses rose by 35.90% year-on-year to ¥78,122,940.28, attributed to increased investment in R&D projects[57]. - The company is focusing on developing high-temperature, flexible silicone rubber energy storage cables to enhance its technological capabilities in the energy sector[61]. - The company is working on a long-life low-smoke halogen-free flame-retardant cable, targeting a lifespan of 80 years, to meet high safety and durability demands in the market[60]. - The company is advancing a large-span energy-saving carbon fiber conductor, aimed at improving overall performance and expanding into high-end markets[59]. Market Position and Strategy - The company is positioned in a competitive market with increasing demand driven by developments in 5G, new energy, and rail transportation sectors[34]. - The company adopts a "target market aggregation" and "differentiation" strategy to maintain profitability and sustainable development in a competitive market[41]. - The company is actively involved in international projects in countries such as Egypt, Iraq, and Saudi Arabia, expanding its market presence[38]. - The company is focusing on expanding its product offerings in high-end markets, driven by technological innovation and safety enhancements[59]. - The company plans to focus on market expansion and cost reduction strategies in 2025, aiming to enhance operational efficiency and core competitiveness[77]. Corporate Governance and Shareholder Relations - The company has established a three-year shareholder return plan for 2024-2026, which was approved at the annual shareholders' meeting[93]. - The company ensures equal treatment of all shareholders, particularly minority investors, by providing separate voting channels for significant matters[86]. - The company maintains an independent financial department with a complete financial accounting system, ensuring no shared bank accounts with the controlling shareholder[90]. - The company has a clear and independent asset ownership structure, with all intangible and tangible assets owned by the company[90]. - The company has a stable management team with all directors and supervisors maintaining their positions until at least November 2025[95]. Environmental and Social Responsibility - The company emphasizes environmental protection by controlling pollutant emissions and promoting energy-saving products, achieving no environmental pollution incidents during the reporting period[129]. - The company actively participates in poverty alleviation and rural revitalization initiatives, including projects in Yixing City[133]. - The company has received honors such as Jiangsu Province Green Factory and Jiangsu Province Intelligent Manufacturing Demonstration Workshop, reflecting its commitment to sustainable development[132]. Risks and Challenges - The company faces risks from fluctuating raw material prices, particularly copper and aluminum, which significantly impact production costs and will implement hedging strategies to mitigate these risks[81]. - Seasonal sales patterns are expected to affect performance, with stronger sales anticipated in the second half of the year due to bidding processes in the power sector[81]. - The company emphasizes product quality and has established strict quality control measures to prevent potential defects that could harm its reputation and financial performance[82]. Employee Relations and Training - The company has implemented a labor contract system and provides various insurances including basic pension, major medical, unemployment, work injury, and maternity insurance[116]. - The company emphasizes employee training, developing an annual training plan that includes professional skills, product knowledge, corporate culture, and management[117]. - The total number of employees at the end of the reporting period is 763, with 616 from the parent company and 147 from major subsidiaries[115]. Financial Reporting and Compliance - The audit opinion for the financial statements was a standard unqualified opinion, issued by Zhongxinghua Accounting Firm on March 11, 2025[192]. - The company's financial statements were prepared in accordance with the accounting standards for enterprises, reflecting a true and fair view of its financial position and performance[192]. - The company has established a comprehensive internal control system, with no significant or important defects reported during the period[122].