WAYS(SH:605218)2025-03-14 13:10Financial Performance - The company's operating revenue for 2024 reached ¥2,027,347,631.39, representing a 29.31% increase compared to ¥1,567,771,032.41 in 2023[24]. - The net profit attributable to shareholders of the listed company decreased by 52.56% to ¥55,984,069.63 from ¥118,004,726.54 in the previous year[24]. - The basic earnings per share for 2024 was ¥0.2655, down 52.56% from ¥0.5597 in 2023[25]. - The total assets of the company increased by 32.09% to ¥2,351,536,089.18 at the end of 2024, compared to ¥1,780,320,041.94 at the end of 2023[24]. - The company reported a significant increase in cash flow from operating activities, which rose to ¥187,279,435.65, a 457.17% increase from ¥33,612,836.16 in 2023[24]. - The net profit after deducting non-recurring gains and losses was ¥46,531,267.54, down 46.45% from ¥86,889,038.74 in the previous year[24]. - The total revenue for the company reached CNY 2,027,347,631.39, with a gross margin of 12.65%, reflecting a decrease of 5.2 percentage points compared to the previous year[71]. - The main business revenue accounted for 99.24% of total revenue, with a year-on-year increase of 29.54%[69]. Dividend and Profit Distribution - The proposed profit distribution plan for 2024 is to distribute a cash dividend of 0.55 RMB per 10 shares, totaling 11,705,840.30 RMB, which accounts for 20.91% of the net profit attributable to shareholders[7]. - The company will not issue bonus shares or convert capital reserves into share capital this year[7]. - The cumulative cash dividend amount over the last three accounting years is 91,671,693.43 RMB, with a cash dividend ratio of 101.81%[156]. - The company's cash dividend policy is in compliance with its articles of association and has clear standards and procedures[152]. Corporate Governance - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[4]. - All directors attended the board meeting to approve the annual report[5]. - The company has established four specialized committees within the board, including the audit committee, which is chaired by a professional accountant[117]. - The company has implemented a strict information disclosure management system to ensure transparency and fairness in communication with stakeholders[119]. - The company emphasizes the importance of maintaining a balance of interests among shareholders, employees, and society to promote sustainable development[119]. - The company has a clear performance evaluation and incentive mechanism for senior management to enhance operational efficiency[118]. - The board of directors consists of 7 members, with 3 independent directors, ensuring compliance with legal regulations and governance standards[116]. Risk Management - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[9]. - The company is facing risks from international trade uncertainties, which could adversely affect its sales performance if geopolitical tensions continue to escalate[107]. - The company is exposed to risks from fluctuations in the USD/RMB exchange rate, which can impact export pricing and financial performance[112]. - The company has not faced any non-operating fund occupation or violations of guarantees during the reporting period[184]. - The company has not encountered any situations that would lead to delisting risk or bankruptcy reorganization[189]. Research and Development - The company is focusing on increasing R&D investments in new products and technologies while implementing competitive pricing strategies to expand sales volume[25]. - In 2024, the company invested a total of 121.69 million yuan in R&D, accounting for 6.00% of its revenue, and obtained 8 new patents, bringing the total to 123 patents[36]. - The number of R&D personnel is 405, accounting for 20.96% of the total workforce[79]. - Research and development expenses amounted to CNY 121,689,992.37, representing 6.00% of total revenue, with a year-on-year increase of 21.65%[78]. - The company invests 5% to 9% of its annual revenue in R&D, ensuring continuous innovation and competitive advantage[61]. Market Position and Strategy - The company has established stable partnerships with global manufacturers such as Tianma, JDI, Sharp, and LGD[35]. - The company is focused on enhancing its core business in automotive display products while diversifying into consumer electronics[35]. - The company is actively investing in the new display industry, including Mini-LED and smart surfaces, and has invested in Dongchao Technology to expand into high-end automotive display fields[39]. - The company plans to enhance its market share in the automotive display sector, focusing on new products like composite display modules and Mini-LED backlight modules, particularly for the booming new energy vehicle market[98]. - The company is actively pursuing new business opportunities in the automotive sector, aligning with trends in smart, lightweight, electric, connected, and shared vehicles[97]. Compliance and Regulatory Issues - The company received a warning letter from the China Securities Regulatory Commission for incomplete information disclosure regarding Huawei-related issues and inaccuracies in the amounts related to idle raised funds[131]. - The company also received oral warnings from the Shanghai Stock Exchange for similar information disclosure issues, specifically regarding the description of cooperation models and risk warnings[133]. - The company has faced regulatory scrutiny for its information disclosure practices, indicating a need for improved compliance measures[132]. - The company is committed to addressing regulatory concerns and enhancing its information disclosure processes to prevent future violations[132]. Environmental and Social Responsibility - The company invested 2.5269 million yuan in environmental protection during the reporting period[165]. - The company reduced carbon emissions by approximately 732.03 tons through photovoltaic power generation[168]. - The company has established environmental protection mechanisms and complies with national and local environmental laws[167]. - The company has passed the ISO 14001:2015 environmental management system certification[167]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[167].