WAZAM(SH:603186)2025-03-17 10:45Financial Performance - The company's operating revenue for 2024 reached ¥3,864,746,361.04, representing a 14.97% increase compared to ¥3,361,517,062.05 in 2023[22]. - The net profit attributable to shareholders of the listed company was -¥97,430,334.61 in 2024, an improvement from -¥120,518,795.21 in 2023[22]. - The net cash flow from operating activities decreased by 30.76% to ¥168,880,342.75 in 2024 from ¥243,895,297.94 in 2023[22]. - The total assets increased by 5.53% to ¥6,112,559,946.57 at the end of 2024, up from ¥5,792,327,848.49 at the end of 2023[22]. - The basic earnings per share for 2024 was -¥0.69, an improvement from -¥0.85 in 2023[23]. - The weighted average return on equity increased by 0.98 percentage points to -6.48% in 2024 from -7.46% in 2023[23]. - The company reported a quarterly revenue of ¥1,040,998,150.15 in Q4 2024, with a net loss of -¥90,785,302.79 attributable to shareholders[25]. - Non-operating income from government subsidies amounted to ¥30,666,343.88 in 2024, compared to ¥18,445,076.37 in 2023[28]. Governance and Compliance - The company received a standard unqualified audit report from Zhonghui Certified Public Accountants[6]. - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[4]. - The company has not violated decision-making procedures for external guarantees[9]. - All board members attended the board meeting, ensuring collective responsibility for the report[5]. - The company maintains independence from its controlling shareholder, ensuring no misuse of company funds or assets[136]. - The company adheres to strict information disclosure requirements, ensuring transparency in its operations and governance[136]. - The company has a governance structure that includes a board of directors with 7 members, 3 of whom are independent directors, ensuring compliance with legal and regulatory requirements[135]. - The company held 1 shareholders' meeting and 6 board meetings during the reporting period, ensuring transparency and adherence to governance protocols[134][135]. Strategic Initiatives and Market Expansion - The company is actively expanding its overseas market presence for thermoplastic honeycomb materials, achieving significant sales breakthroughs[38]. - The company has established strategic partnerships with several well-known battery cell manufacturers in the solid-state battery sector, achieving small batch orders[39]. - The company is focusing on enhancing customer satisfaction through improved quality management and technical service efficiency[40]. - The company aims to expand its market presence through new product development and strategic partnerships[69]. - The company is actively pursuing a large customer strategy to increase market share by addressing the specific needs of major clients[121]. - The company plans to expand its market presence by entering two new provinces in 2024, targeting a 10% market share in those regions within the first year[140]. - The company is actively expanding its overseas market, establishing subsidiaries in Japan, South Korea, and Thailand, and is planning to invest in a factory in Thailand[124][125]. Research and Development - The company is committed to continuous R&D investment to meet customer demands and improve product offerings[47]. - The company has established a strong R&D model focusing on advanced materials, collaborating with industry partners and academic institutions to enhance product development and technology research[57]. - The R&D team focuses on market trends to capture new opportunities, establishing technical advantages in high-end products like copper-clad laminates and aluminum-plastic films[64]. - Research and development expenses rose by 2.19% to ¥200,893,045.97, indicating a focus on innovation[73]. - The company is actively pursuing digital transformation and smart manufacturing initiatives to enhance operational efficiency[69]. - The company aims to enhance its R&D capabilities in high-end electronic materials and composite materials, focusing on applications in communication, automotive electronics, and AI[115]. Environmental Compliance - The company achieved compliance in wastewater discharge, with COD measured at 231 mg/L against a standard of 500 mg/L[185]. - The company’s production exhaust emissions met the standards, with non-methane total hydrocarbons at 19.1 mg/m3 against a limit of 120 mg/m3[185]. - The company has established a comprehensive environmental monitoring plan, ensuring regular testing of water quality and emissions[198]. - The company is committed to meeting environmental standards, with all measured pollutants in compliance with relevant regulations[188]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[199]. - All subsidiaries actively fulfill corporate environmental responsibilities and comply with environmental laws and standards[200]. Employee and Talent Management - The company has strengthened its talent development initiatives, including internal training and external recruitment, to build a diverse and innovative talent pool[43]. - The company’s employee structure includes 1,765 production personnel, 111 sales personnel, and 437 technical personnel, among others[162]. - The company’s focus on talent retention and performance-based incentives aims to enhance employee loyalty and contribute to sustainable development[163]. - The company conducted a total of 499,466.50 hours of outsourced labor, with total payments amounting to 1,336.50 million yuan[166]. - The company’s training activities involved over 500 participants, focusing on safety regulations, new productivity training, and legal risk prevention[164]. Financial Policies and Shareholder Returns - The company has established a cash dividend policy that emphasizes reasonable returns to investors, with a minimum cash dividend ratio of 80% for mature companies without major capital expenditure plans[167]. - The cumulative cash dividend amount over the last three fiscal years was CNY 11,360,937.68, while the average net profit during the same period was -CNY 60,623,086.15[174]. - The company’s cash distribution plan must consider future operational and investment impacts, ensuring alignment with overall shareholder interests[168]. - The company has a mechanism in place to deduct cash dividends from shareholders who have improperly occupied company funds[170]. - The company’s cash dividend policy is compliant with its articles of association and has clear standards and procedures[172]. Production and Operational Efficiency - The company has implemented integrated supply chain management to improve collaboration across R&D, production, and sales[69]. - The company aims to enhance its supply chain efficiency, targeting a reduction in lead times by 20% over the next year[145]. - The company has improved its end-to-end business processes and market management systems, leading to enhanced sales operations and customer satisfaction[41]. - The company produced 35.56 million sheets of copper-clad laminate, an increase of 20.18% year-over-year[70]. - The production volume of functional composite materials surged by 70.59%, with total production costs increasing by 36.69%, mainly due to changes in product structure and a decrease in average unit costs[80].