Farsoon(SH:688433)2025-03-19 12:20Financial Performance - The company's operating revenue for 2024 was CNY 491,966,809.88, a decrease of 18.82% compared to CNY 606,039,751.69 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 67,206,949.39, down 48.76% from CNY 131,161,050.04 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 54,825,125.64, a decline of 53.58% from CNY 118,107,252.11 in 2023[23]. - The gross profit margin was 47.45%, a decrease of 3.27 percentage points compared to the same period last year[38]. - The company achieved a revenue of 491.97 million yuan, a year-on-year decrease of 18.82%[38]. - The net profit attributable to shareholders was 67.21 million yuan, down 48.76% year-on-year, with a net profit excluding non-recurring gains and losses of 54.83 million yuan, a decrease of 53.58%[38]. - The company reported a significant increase in investment activity cash outflow, totaling CNY -324.33 million, due to increased project construction investments[131]. - The financing cash flow net outflow was CNY -62.93 million, a significant increase compared to the previous year, primarily due to dividend distribution and share repurchase[131]. - The company achieved a total revenue of 331.6 million RMB, with a net profit of 225.73 million RMB, reflecting a significant increase compared to the previous period[99]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.49 per 10 shares, totaling RMB 20,249,126.42, which represents 30.13% of the net profit attributable to shareholders in the consolidated financial statements for the year 2024[6]. - The company has not declared any stock dividends or capital reserve transfers for the year 2024[6]. - The company plans to distribute profits for the year 2023 as part of its annual profit distribution proposal[193]. Research and Development - Research and development expenses accounted for 20.10% of operating revenue, an increase of 6.51 percentage points year-on-year, reflecting the company's commitment to technological innovation[25]. - The company invested 98.89 million yuan in R&D, an increase of 20.06% year-on-year, accounting for 20.10% of operating revenue[40]. - The company has developed over 20 models of industrial-grade additive manufacturing equipment, focusing on metal (SLM) and polymer (SLS) 3D printing technologies[47]. - The company has established a stable ecosystem and competitive landscape in the additive manufacturing industry, with significant growth in market capacity and competitiveness[161]. - The company is focusing on additive manufacturing technology, which is driving traditional labor-intensive industries towards automation and higher value-added segments[79]. - The company has made significant advancements in multi-laser automatic calibration, improving calibration efficiency for multi-laser systems[80]. - The company has developed a comprehensive independent technology system covering SLM and SLS technologies, resulting in 11 new invention patents and a total of 26 patents during the reporting period[80]. - The company has successfully developed a new high-performance polymer material with a budget of 2,400,000.00, achieving industry-leading levels in toughness and heat resistance[20]. Market Expansion and Strategy - The company is actively expanding its market presence both domestically and internationally, aiming to increase its market share and brand competitiveness[167]. - The company aims to establish itself as the third global leader in additive manufacturing, breaking the long-standing dominance of Europe and the US in this industry[164]. - The company is focusing on expanding its market presence in various sectors, including oil and gas, electronics, and aerospace, through innovative product development and technology upgrades[5]. - The company is committed to continuous technological innovation, targeting key common technology issues in the industry[166]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[184]. Risk Management - The company has outlined various risks and corresponding countermeasures in the management discussion and analysis section of the report[4]. - The company is exposed to risks from international trade tensions affecting the supply of core components imported from the US and Germany[114]. - The company faces potential management risks due to rapid expansion in operational and asset scale, requiring higher management standards[115]. - The company is at risk of declining gross margins if it fails to innovate and meet market demands with new products[118]. - The company has a risk of bad debt losses on accounts receivable if macroeconomic conditions or customer situations worsen[119]. Governance and Compliance - The company held 2 shareholder meetings, 6 board meetings, and 6 supervisory meetings during the reporting period, all conducted in compliance with legal and regulatory requirements[173]. - The governance structure of the company has been continuously improved to ensure fair and reasonable decision-making processes[173]. - The company has not faced any penalties from securities regulatory authorities in the past three years[193]. - The company has established specialized committees under the board, including audit, nomination, compensation, and strategic development committees[196]. Talent and Human Resources - The company has established a complete talent team structure, combining R&D, professional skills, marketing, and management talents[169]. - The number of R&D personnel increased to 251, accounting for 33.07% of the total workforce, up from 31.15% in the previous year[101]. - The average salary of R&D personnel decreased to 19.71 thousand RMB, compared to 22.26 thousand RMB in the previous year[101]. - The total remuneration for core technical personnel at the end of the reporting period was RMB 1.5665 million[192]. Product Development and Innovation - The company has launched its first domestically developed control card, improving scanning control technology and breaking import restrictions[42]. - The company has developed Cold Metal Fusion (CMF) technology in collaboration with German partner Headmade, enabling the mass production of titanium alloy components[42]. - The company has introduced a Manufacturing Execution System (MES) that allows one person to manage 12 devices simultaneously, reducing labor costs by 70%[43]. - The company has developed a series of 3D printing products with high production efficiency, such as the HT1001P model, which can print lengths up to 1000mm without splicing, suitable for large-scale continuous production[52]. Financial Position - The total assets at the end of 2024 were CNY 2,503,997,557.15, an increase of 7.87% from CNY 2,321,398,009.89 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were CNY 1,943,695,975.16, a slight increase of 0.76% from CNY 1,929,035,165.78 at the end of 2023[23]. - The company reported a restricted cash balance of CNY 318,726,161.68, which is available for withdrawal but has usage limitations[156].