江航装备(688586) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 1,092,892,480.42, a decrease of 9.98% compared to CNY 1,214,095,535.82 in 2023[21]. - Net profit attributable to shareholders for 2024 was CNY 125,396,166.70, down 35.02% from CNY 192,980,824.63 in 2023[21]. - The net cash flow from operating activities decreased by 282.42% to -CNY 112,717,634.75 in 2024, compared to CNY 61,788,838.24 in 2023[21]. - Basic earnings per share for 2024 were CNY 0.16, a decline of 33.33% from CNY 0.24 in 2023[22]. - The gross profit margin decreased to 34.29%, down 3.12 percentage points compared to the previous year[92]. - The company reported a total operating income of ¥1,077,744,559.58, a decrease of 10.33% year-on-year, with a corresponding operating cost of ¥708,222,693.46, down 5.85%[92]. Dividend Distribution - The company plans to distribute a cash dividend of 0.9 RMB per 10 shares, totaling approximately 71.22 million RMB, which represents 56.80% of the net profit attributable to shareholders[5]. - The cumulative cash dividends over the last three fiscal years amount to approximately 275.84 million RMB, with an average annual net profit of about 187.45 million RMB, resulting in a cash dividend ratio of 147.15%[174]. - For the fiscal year 2024, the company intends to distribute a cash dividend of 0.9 RMB per 10 shares, amounting to about 71.22 million RMB, which is 56.80% of the net profit attributable to shareholders[168]. Research and Development - The company's R&D expenditure as a percentage of operating revenue increased to 14.72% in 2024, up from 12.92% in 2023, reflecting a rise of 1.8 percentage points[22]. - The total R&D investment for the year was approximately ¥160.86 million, an increase of 2.58% from the previous year[66]. - The company applied for 136 patents during the year, including 107 invention patents, demonstrating its commitment to innovation and technology development[35]. - Research and development expenses increased by 9.26% to CNY 127,137,301.39, compared to CNY 116,364,732.52 in the previous year[90]. - The company has accumulated a total of 809 patents and has participated in the compilation of 90 published standard projects, receiving over 60 awards for scientific and technological achievements[78]. Market and Product Development - The company is actively engaged in new product and technology development, aiming to innovate within the aerospace equipment sector[137]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[139]. - New product development includes the introduction of advanced aircraft components, expected to contribute an additional 300 million yuan in revenue[139]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million yuan for potential deals[138]. - The company is expanding its market reach by entering new fields, including underwater detection devices and special refrigeration systems for military and civilian applications[36]. Governance and Compliance - The company has not reported any significant changes in R&D investment capitalized ratio[67]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[7]. - The company has not reported any significant risks that could impact its financial performance[4]. - The company has not faced any penalties from securities regulatory authorities in the past three years[149]. - The company maintains independence from its controlling shareholders in terms of business, personnel, assets, and finances, ensuring autonomous operational capabilities[131]. Environmental and Social Responsibility - The company has achieved a 100% compliance rate in hazardous waste disposal, with 96.574 tons disposed of during the year[188]. - The company has actively participated in social responsibility initiatives, contributing to education, health, and rural revitalization efforts[183]. - The company is committed to carbon peak and carbon neutrality goals, integrating them into its long-term development plan[183]. - The company has implemented a strategic plan for the development of its subsidiaries, enhancing risk management and control[179]. - The company has established a comprehensive ESG management system led by the board of directors, ensuring institutional management of ESG matters[183]. Operational Efficiency - The company aims to enhance its supply chain efficiency, targeting a reduction in lead times by 15% over the next year[140]. - The management emphasized the importance of sustainability initiatives, planning to invest 50 million yuan in eco-friendly technologies[138]. - The company has set a target to reduce operational costs by 8% through efficiency improvements[138]. - The company has implemented a new marketing strategy, focusing on digital channels, which is expected to increase customer engagement by 50%[140]. - The company has established a systematic salary structure based on strategic goals and performance contributions[163].