TRUCHUM(SZ:002171)2025-03-17 10:25Financial Performance - The company's operating revenue for 2024 reached ¥53.75 billion, representing a 16.06% increase compared to ¥46.31 billion in 2023[22]. - The net profit attributable to shareholders decreased by 56.57% to ¥229.86 million from ¥529.22 million in the previous year[22]. - The net cash flow from operating activities turned negative at -¥657.09 million, a decline of 468.39% compared to ¥178.37 million in 2023[22]. - The total assets increased by 13.92% to ¥19.06 billion from ¥16.73 billion at the end of 2023[23]. - The basic earnings per share decreased by 55.00% to ¥0.18 from ¥0.40 in 2023[22]. - The weighted average return on equity fell to 3.58% from 8.38% in the previous year[23]. - The total profit for the period was CNY 29,294.31 million, a decrease of 53.97% compared to the previous year[73]. - The net profit attributable to the parent company was CNY 22,985.51 million, down 56.57% year-on-year[73]. - The gross margin for copper-based materials decreased to 2.13%, down from 17.90% in the previous year[78]. Production and Sales - The company maintained its position as the top producer of high-precision copper alloy strip, with an annual output of over 340,000 tons in 2024[33]. - The production and sales volume of copper conductor materials reached 440,000 tons, solidifying the company's leading position in the segment[33]. - The sales volume of copper-based materials exceeded 1 million tons, growing by 6.41% year-on-year[73]. - The production of copper strip products reached 347,200 tons, an increase of 6.22% year-on-year[73]. - The copper conductor products sold amounted to 436,200 tons, reflecting a growth of 6.17% year-on-year[73]. - The copper alloy products achieved sales of 60,900 tons, marking a year-on-year increase of 13.48%[73]. Research and Development - The company is committed to R&D in new materials and technologies, including 3D printing and intelligent equipment manufacturing[131]. - R&D personnel increased to 1,361 in 2024, a growth of 16.42% from 1,169 in 2023[94]. - R&D investment reached ¥1,149,231,681.30 in 2024, up 15.46% from ¥995,326,237.72 in 2023[95]. - The company is developing high-performance copper alloy flat wires for electrical components, focusing on optimizing processes and equipment modifications[88]. - The company is working on high-performance copper stranded wire products to meet customer demands, with ongoing patent applications and expected economic benefits[89]. Market Expansion and Strategy - The company established a wholly-owned subsidiary in Russia to expand its market presence and better serve Russian customers, which is expected to provide new growth opportunities[83]. - The company aims for a revenue target of 60 billion yuan for 2025, focusing on high-quality development and becoming an industry leader[140]. - The company plans to enhance market share through technology innovation and product quality improvements, particularly in new energy storage and AI sectors[142]. - The company is exploring market expansion opportunities through strategic partnerships and potential acquisitions to drive growth[124]. Governance and Management - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board, ensuring effective checks and balances[172]. - The company has committed to improving governance structures and ensuring compliance with relevant laws and regulations[160]. - The company has established a fair, transparent, and effective performance evaluation and incentive mechanism for directors, supervisors, and managers, aiming to attract and retain outstanding management talent and technical staff[165]. - The company is focused on maintaining strong governance through experienced personnel in key positions[180]. Employee and Workforce - The total number of employees at the end of the reporting period was 7,752, with 4,763 in production, 398 in sales, and 1,364 in technical roles[196]. - The company emphasizes a performance-based compensation system, linking employee income to monthly salary, year-end bonuses, and performance assessments[198]. - The company has implemented a comprehensive employee training system, focusing on both online and practical training methods[199]. - The employee education level includes 7 PhDs, 62 postgraduates, and 669 undergraduates, with a significant portion holding vocational diplomas[197]. Risk Management - The company has established a comprehensive risk control system to manage various risks, including market, liquidity, credit, operational, and legal risks[117]. - The company recognizes risks from fluctuations in raw material prices, particularly for copper, steel, and zinc, and plans to mitigate this through strategic customer contracts[149]. - The company faces risks related to accounts receivable, particularly with high sales volumes and a diverse customer base[154]. - To reduce bad debt risks, the company will enhance customer credit management and align receivable collection with sales personnel incentives[154]. Environmental and Social Responsibility - The company is committed to social responsibility, focusing on welfare and public service issues while ensuring the maximization of shareholder interests[168]. - The company is engaged in the development of new technologies and products, particularly in the field of environmental protection technology[107]. Future Outlook - The company aims to transition towards high-end materials and promote sustainable development in response to national policies on raw material industries[134]. - The company is focusing on advanced copper-based materials, which are critical for various industries, including renewable energy and electric vehicles, aligning with national development plans[134].