ECEC(SZ:002199)2025-03-24 14:00Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the last fiscal year[16]. - The company's operating revenue for 2024 was ¥217,192,959.05, representing a 25.37% increase compared to ¥173,242,490.54 in 2023[22]. - The net profit attributable to shareholders for 2024 was -¥73,453,408.27, a decline of 10.30% from -¥66,595,576.18 in 2023[22]. - The net cash flow from operating activities was -¥9,173,711.75, a significant decrease of 98.30% compared to -¥4,626,262.37 in 2023[22]. - The total assets at the end of 2024 were ¥488,913,512.57, down 5.47% from ¥517,228,276.23 at the end of 2023[22]. - The net assets attributable to shareholders decreased by 23.82% to ¥229,840,222.53 at the end of 2024 from ¥301,702,011.44 at the end of 2023[22]. - The company reported a basic earnings per share of -¥0.30 for 2024, which is an 11.11% decline from -¥0.27 in 2023[22]. - The weighted average return on equity was -27.64% for 2024, worsening from -19.94% in 2023[22]. - The company achieved operating revenue of CNY 217.19 million, an increase of 25.37% compared to the same period last year[53]. - The net profit attributable to shareholders was CNY -73.45 million, a decrease of 10.30% year-on-year[53]. - The total assets at the end of the reporting period were CNY 488.91 million, down 5.47% from the previous year[53]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[16]. - The company anticipates growth opportunities driven by the expansion of 5G technology and its applications in various industries, including AI and IoT[33]. - The company aims to optimize its customer and product structure while expanding its global market presence to become a leading global supplier of quartz crystals[40]. - The company plans to enhance production efficiency and optimize production processes to avoid overproduction or shortages in 2025[82]. - The company will strengthen market expansion efforts, targeting both domestic and international markets to increase market share and customer satisfaction[83]. - The company is exploring potential acquisitions to enhance its technology portfolio, with a budget of 500 million RMB allocated for this purpose[111]. - A new strategic partnership has been established with a leading technology firm, expected to drive collaborative innovation and market expansion[111]. Research and Development - The company has invested 50 million RMB in R&D for new product development, focusing on quartz crystal components[16]. - Research and development investments have increased by 30%, focusing on innovative technologies and product enhancements[111]. - The company focuses on R&D for miniaturized and automotive-grade products, achieving small-scale production of new products such as TSX2016 and OSC3225 during the reporting period[51]. - The company is committed to innovation-driven development, focusing on the integration of 5G communication and IoT applications in its R&D efforts[51]. - The company has maintained its position as a leading manufacturer of quartz crystal components in China, with a strong focus on R&D and innovation, holding numerous core intellectual property rights[40]. Operational Efficiency - The company is implementing new technologies to improve production efficiency, aiming for a 15% reduction in operational costs[16]. - The company aims to improve operational efficiency, targeting a 5% reduction in production costs through process optimization[111]. - The company has implemented strict quality control measures and has passed multiple certifications, including ISO-9001 and IATF-16949, ensuring high product quality[47]. - The company emphasizes cost reduction and efficiency improvement through production process optimization and collaboration between technical and supply chain departments[50]. Governance and Compliance - The company has established a governance structure in compliance with relevant laws and regulations, ensuring independent operations and decision-making processes[94]. - The board of directors consists of eight members, including four independent directors, ensuring compliance with legal requirements[94]. - The company maintains independence in business, assets, personnel, and financial operations, with no reliance on major shareholders[97]. - The company has a complete and independent financial accounting system, ensuring independent financial decision-making and tax compliance[98]. - The company has established a performance management system to enhance employee development and promote a positive workplace culture[138]. Risks and Challenges - The management has identified potential risks, including market volatility and supply chain disruptions, and is developing strategies to mitigate these risks[3]. - The company faces market risks due to its reliance on quartz crystal components, which could be affected by demand fluctuations and competitive pressures[86]. - The company is exposed to exchange rate risks, particularly with significant transactions in USD, and plans to enhance financial management to mitigate these risks[87]. - The company is subject to delisting risk warning as its audited financial data for 2024 indicates that the total profit, net profit, and net profit after deducting non-recurring gains and losses are below zero, with operating revenue below 300 million yuan[156]. Employee and Talent Management - The company has established a comprehensive salary management system and incentive mechanism to attract and retain talent[125]. - The company has conducted various training programs to enhance employee skills and prepare talent for future needs[126]. - The number of R&D personnel increased by 2.94% to 70 in 2024, with a proportion of 13.38% of total employees[66]. - The company intends to improve talent management by recruiting specialized personnel and establishing an incentive mechanism to boost employee motivation[84]. Shareholder and Financial Management - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[4]. - The total approved guarantee amount for subsidiaries is RMB 15,000 million, with an actual guarantee balance of RMB 12,180 million, representing 52.99% of the company's net assets[175]. - The company plans to issue stock to specific targets with a total financing amount not exceeding RMB 300 million, which is capped at 20% of the net assets as of the end of the previous year[179]. - The total number of ordinary shareholders at the end of the reporting period was 33,776, an increase from 28,852 at the end of the previous month[185]. - The largest shareholder, Ningbo Meishan Bonded Port Area Blue Ocean Investment Management Center, holds 10.02% of shares, totaling 24,399,453 shares, with 16,481,853 shares pledged[185].