XLDY(SH:600769)2025-03-19 11:25Financial Performance - The company achieved a net profit attributable to shareholders of 12.81 million yuan in 2024, representing a 5.38% increase from 2023[7]. - Operating revenue for 2024 was 75.73 million yuan, up 13.71% compared to 66.60 million yuan in 2023[23]. - The net cash flow from operating activities increased by 25.86% to 59.47 million yuan in 2024[23]. - The company's total assets reached 332.76 million yuan at the end of 2024, a 16.16% increase from 286.47 million yuan in 2023[23]. - The net asset attributable to shareholders was 102.96 million yuan, reflecting a 14.21% increase from 90.15 million yuan in 2023[23]. - Basic earnings per share rose to 0.0342 yuan in 2024, a 5.56% increase from 0.0324 yuan in 2023[24]. - The company reported a negative retained earnings of 670 million yuan as of December 31, 2024, leading to no profit distribution for the year[7]. - The company experienced a 35.77% decline in net profit after deducting non-recurring gains and losses, totaling 7.12 million yuan in 2024[23]. Revenue Segmentation - In 2024, the company achieved operating revenue of 75.73 million yuan, a year-on-year increase of 13.71%, and a net profit of 12.81 million yuan, up 5.38% year-on-year[31]. - The construction segment generated operating revenue of 30.61 million yuan, reflecting a significant year-on-year growth of 39.50%[32]. - The water supply business generated revenue of 46.72 million yuan, with a gross margin of 48.95%, down 1.70 percentage points from the previous year[43]. - The construction business reported revenue of 28.95 million yuan, with a negative gross margin of -6.46%, a decrease of 7.53 percentage points year-on-year[43]. Operational Efficiency and Development - The company has successfully completed the water resource certification report and pre-approval for water extraction, paving the way for the expansion project of the water plant[33]. - The company has implemented a smart water supply platform, achieving digital twin modeling and intelligent monitoring, which enhances operational efficiency and water quality indicators[33]. - The overall operating efficiency has been improved through the optimization of internal management systems and business processes[35]. - The company aims to enhance operational efficiency and service quality through technological innovation and management upgrades[66]. - The company plans to leverage artificial intelligence to improve the operational management efficiency of water treatment plants[71]. Market and Strategic Focus - The water supply industry is in a mature development phase, closely linked to regional economic growth and urbanization, with a stable market competition landscape[36]. - The company maintains a focus on differentiated marketing strategies to meet the specific needs of high-tech clients in the water supply market[32]. - The company is actively expanding its external market presence, achieving substantial breakthroughs in its "going out" strategy[34]. - The company is focused on sustainable development and cautious project acquisition strategies in its construction business[39]. Governance and Compliance - The company has improved its corporate governance structure and internal control system, enhancing communication with investors and information disclosure quality[76]. - The annual shareholder meeting approved the 2023 financial statements and profit distribution plan, indicating a commitment to transparency and accountability[79]. - The company has not reported any major changes in its business, products, or services during the reporting period[47]. - The company has not engaged in any major mergers or acquisitions during the reporting period, focusing on organic growth strategies[76]. - The company has not disclosed any specific market expansion strategies in the recent reports, suggesting a cautious approach to growth[76]. Human Resources and Compensation - The total remuneration for directors and senior management during the reporting period amounted to 113.82 million yuan[81]. - The company employed 4 R&D personnel, making up 6.56% of the total workforce[50]. - The company has implemented a compensation policy based on strategic goals, job value assessment, and employee performance, ensuring internal fairness and external competitiveness[98]. Environmental and Social Responsibility - The company did not invest any funds in environmental protection during the reporting period[105]. - The company has not established any environmental protection mechanisms and did not take any measures to reduce carbon emissions[106]. - The company has not disclosed a separate social responsibility report or ESG report during the reporting period[107]. Audit and Financial Reporting - The company appointed DaXin Accounting Firm as the new auditor for 2024, replacing ZhongShen ZhongHuan, which had served for over 8 years[110]. - The audit fee for the new accounting firm is set at CNY 345,000, a decrease of approximately 1.43% from the previous year's fee of CNY 350,000[110]. - The company reported no significant litigation or arbitration matters during the reporting period[112]. - The company has committed to maintaining compliance with legal and regulatory requirements in all transactions[114]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 25,562, an increase from 24,330 at the end of the previous month[123]. - The largest shareholder, Wuhan Gehua Group Co., Ltd., holds 75,291,177 shares, representing 20.08% of the total shares[125]. - The second-largest shareholder, Zhong Weilan, increased his holdings by 6,380,000 shares to a total of 13,180,000 shares, accounting for 3.51%[125]. Financial Position and Assets - The total assets of Wuhan Xianglong Electric Co., Ltd. as of December 31, 2024, amounted to CNY 332,756,015.10, an increase from CNY 286,473,231.02 in 2023, representing a growth of approximately 16.2%[150]. - Current assets reached CNY 236,529,065.44, up from CNY 187,454,905.75 in the previous year, indicating a rise of about 26.2%[151]. - Cash and cash equivalents increased to CNY 107,906,887.23 from CNY 84,717,045.98, reflecting a growth of approximately 27.3%[150]. - The company's inventory rose to CNY 651,079.99, compared to CNY 528,311.68 in 2023, marking an increase of around 23.2%[151]. Liabilities and Equity - The total liabilities increased from CNY 196,321,784.80 in 2023 to CNY 229,791,516.35 in 2024, representing an increase of approximately 17%[152]. - The total equity attributable to shareholders rose from CNY 90,151,446.22 in 2023 to CNY 102,964,498.75 in 2024, marking an increase of about 14.5%[153]. - The retained earnings improved from CNY -693,194,765.99 in 2023 to CNY -680,381,713.46 in 2024, indicating a reduction in losses[153].