Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 8,716.54 million, representing a 20% increase from RMB 7,252.27 million in 2023[3] - The revenue from the electric AMI business was RMB 3,198.76 million, an increase of 21% compared to 2023[3] - The revenue from communication and fluid AMI business was RMB 2,614.80 million, up 24% from the previous year[3] - The ADO business generated revenue of RMB 2,902.99 million, reflecting a 17% increase year-over-year[3] - The net profit attributable to the company's owners increased by 35% to RMB 705.61 million, compared to RMB 521.23 million in 2023[3] - Basic earnings per share for the year were RMB 0.714, up from RMB 0.527 in 2023[3] - The total comprehensive income for the year was RMB 947.202 million, compared to RMB 813.663 million in the previous year[6] - The company reported a pre-tax profit of RMB 1,207.588 million, an increase from RMB 860.732 million in 2023[4] - Total revenue for the year ending December 31, 2024, reached RMB 8,716,541,000, with external sales contributing RMB 8,716,541,000[19] - The segment performance showed a profit of RMB 1,239,916,000 before tax, with specific contributions from the segments: RMB 379,567,000 from Smart Metering Solutions, RMB 603,383,000 from Communication and Fluid Solutions, and RMB 256,966,000 from Smart Power Distribution Solutions[19] Assets and Liabilities - Non-current assets decreased from RMB 3,952,832 thousand in 2023 to RMB 3,390,622 thousand in 2024, a reduction of approximately 14.2%[8] - Current assets decreased from RMB 11,774,066 thousand in 2023 to RMB 10,489,497 thousand in 2024, a decline of about 10.9%[8] - Total liabilities decreased from RMB 7,376,110 thousand in 2023 to RMB 6,227,711 thousand in 2024, a decrease of approximately 15.6%[9] - Non-current liabilities increased from RMB 875,787 thousand in 2023 to RMB 1,029,860 thousand in 2024, an increase of about 17.6%[9] - Total equity increased from RMB 6,776,621 thousand in 2023 to RMB 7,320,928 thousand in 2024, reflecting a growth of approximately 8.0%[9] - Cash and bank balances decreased from RMB 2,790,300 thousand in 2023 to RMB 2,644,896 thousand in 2024, a decline of about 5.2%[8] - Inventory decreased from RMB 1,264,093 thousand in 2023 to RMB 1,205,919 thousand in 2024, a reduction of approximately 4.6%[8] - Accounts receivable decreased from RMB 5,821,016 thousand in 2023 to RMB 4,550,227 thousand in 2024, a decline of about 21.8%[8] - The company reported a significant increase in reserves from RMB 5,156,730 thousand in 2023 to RMB 5,422,701 thousand in 2024, an increase of approximately 5.2%[9] Research and Development - The company incurred research and development expenses of RMB 730.404 million, compared to RMB 681.375 million in the previous year[4] - Research and development expenses totaled RMB 695,722 thousand, up from RMB 640,012 thousand in 2023, indicating a focus on innovation[23] - The group is committed to increasing R&D efforts in energy IoT and digital grid technologies, collaborating with national laboratories to promote the industrialization of research outcomes[60] - The group is focusing on the development of "Internet of Things + Chips + Artificial Intelligence" technologies to enhance innovation and market competitiveness[62] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[21] - The group aims to leverage the growth in procurement demand from Inner Mongolia Electric Power Group and enhance its market share in provincial and local power companies[53] - The group is actively expanding its market in the telecommunications and petrochemical sectors, launching new products to meet energy efficiency and carbon reduction needs[51] - The group anticipates further opportunities from the digital transformation and smart upgrades promoted by the National Grid[53] - The group is focusing on the non-electricity market, particularly in the energy measurement and efficiency management services, to drive business expansion and product development[54] International Expansion - The group has established over ten overseas subsidiaries and sales representative offices, with factories in Saudi Arabia and Indonesia under construction, advancing the group's internationalization strategy[60] - The group has received multiple international product certifications, including FCC certification in the U.S. and CE-RED certification in the EU, enhancing its global market presence[60] - The group is actively participating in the "Belt and Road" initiative to seize development opportunities in emerging markets such as Latin America, the Middle East, and Africa[63] - The overseas revenue for the year reached RMB 2,396.80 million, a 50% increase compared to RMB 1,599.26 million in the previous year[75] - The group secured overseas orders amounting to approximately RMB 3,471 million, representing a 26% increase from RMB 2,758 million in the previous year[76] Corporate Governance and Compliance - The company has adhered to corporate governance codes and has not deviated from the principles outlined in the listing rules as of December 31, 2024[117] - The audit committee has reviewed the annual performance for the year ending December 31, 2024, ensuring compliance with financial reporting standards[121] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[124] - The chairman of Wasion Holdings Limited is Cao Zhaohui, indicating a stable leadership presence[125] Employee and Operational Efficiency - The group employed 5,280 staff as of December 31, 2024, an increase from 4,929 in 2023, indicating a growth in workforce[113] - The company has established stock option and share reward plans to retain and attract qualified employees, supporting its ongoing development[113] - The group achieved significant operational efficiency and quality improvements in Tanzania, solidifying long-term procurement relationships with local power companies[79]
威胜控股(03393) - 2024 - 年度业绩