Moso power(SZ:002660)2025-03-27 10:45Financial Performance - The company's operating revenue for 2024 is projected to be approximately ¥1,295,020,940, reflecting a decrease of 2.53% compared to the adjusted revenue of ¥1,328,670,393 in 2023[20]. - The net profit attributable to shareholders for 2024 is estimated at ¥67,483,624.4, which is an 11.86% decline from the adjusted net profit of ¥76,565,161.5 in 2023[20]. - The net cash flow from operating activities for 2024 is expected to be ¥42,203,303.5, a significant recovery from a negative cash flow of ¥104,856,909 in 2023, marking a 140.25% increase[20]. - The total assets at the end of 2024 are projected to reach ¥1,961,039,473, representing an 8.81% increase from the adjusted total assets of ¥1,802,230,428.97 at the end of 2023[20]. - The net assets attributable to shareholders are expected to be ¥1,296,965,807.63 at the end of 2024, showing a 2.54% increase from the adjusted net assets of ¥1,264,897,791.91 at the end of 2023[20]. - The company reported a basic earnings per share of ¥0.19 for 2024, down 9.52% from ¥0.21 in 2023[20]. - The weighted average return on net assets for 2024 is projected to be 5.27%, a decrease of 0.74% from 6.01% in 2023[20]. - The company achieved a revenue of 1.295 billion yuan, a decrease of 2.53% compared to the same period last year, and a net profit attributable to shareholders of 67.48 million yuan, down 11.86% year-on-year[71]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares to all shareholders based on a total share capital of 356,626,019 shares as of December 31, 2024[4]. - The cash dividend amount for the reporting period is CNY 35,662,601.90, which is 100% of the total profit distribution[200]. - The total distributable profit available to shareholders is CNY 72.32 million[200]. - The company plans to distribute at least 20% of the annual distributable profits as cash dividends, subject to cash flow conditions[198]. - The board has established a differentiated cash dividend policy based on the company's development stage and capital expenditure needs[198]. - Independent directors have fulfilled their responsibilities in the decision-making process regarding dividends[199]. - The cash dividend policy is compliant with the company's articles of association and shareholder resolutions[199]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with all board members present for the approval of the annual report[4]. - The company maintains independent operations in business, assets, personnel, institutions, and finance, ensuring no interference from the controlling shareholder[148]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[147]. - The board of directors is composed of members who fulfill their duties diligently and independently, with clear responsibilities[146]. - The company has a complete and independent production, sales, and research system, enabling it to operate autonomously in the market[149]. - The company emphasizes communication with stakeholders and actively fulfills its social responsibilities, aiming for a balance of interests among all parties involved[147]. - The company has a diverse management team with varying terms, ensuring continuity and experience in leadership roles[152]. Research and Development - The company has established a comprehensive R&D system, including a group technology center and independent R&D departments in subsidiaries[49]. - The company increased its R&D investment to 10.339 million yuan in 2024, representing a year-on-year growth of 10.52%[53]. - The company has developed new products such as the X6EG series, enhancing power conversion efficiency to meet energy-saving project requirements[44]. - The company launched the G6D(II) series, the first in the industry with D4i functionality, to drive smart industrial lighting[45]. - The company has completed the development of the X6-D and X6-DS series, which support DALI-2 smart dimming, enhancing safety and performance[46]. - The company is focusing on enhancing its competitive edge in the LED driver power supply sector by deepening its domestic market presence and expanding overseas customer networks, with increased R&D investment and product optimization[131]. Market Expansion and Strategy - The company is actively expanding into the energy storage sector, aligning with national policies to promote new energy systems[31]. - The company anticipates continued growth in the LED driver market, driven by technological advancements and increasing energy efficiency demands[33]. - The company aims to become a leading provider of intelligent green energy solutions, with a vision to drive global smart living through technological innovation[52]. - The company is targeting the home energy storage, portable energy storage, and emergency solutions markets, aiming to increase revenue from its energy storage business by leveraging its state-owned background and deepening industry cooperation[131]. - The company is committed to diversifying investments and optimizing resource distribution to drive sustainable growth[130]. - The company is focusing on outdoor high-power sectors to establish technical barriers and maintain a leading market share[127]. Financial Management - Cash and cash equivalents decreased by 36.00% to 399.57 million yuan, primarily due to investments in financial products and external investments[75]. - The company reported a significant increase in investment cash outflows, totaling ¥57.499 billion, primarily due to the purchase of large certificates of deposit and structured deposits[77]. - The company’s financial expenses decreased by 67.26% to -5.34 million yuan, attributed to reduced returns from current funds[76]. - The company has a total of ¥63,194 in financial liabilities, with no new liabilities incurred during the reporting period[106]. - The company is exploring new product development in the field of electronic components and integrated circuits[110]. - The company has established strict risk control measures for foreign exchange derivatives trading, including prohibiting speculative activities[118]. Employee Management - The total number of employees at the end of the reporting period is 2,472, with 395 in the parent company and 2,077 in major subsidiaries[190]. - The company implements a salary system that combines position-level wages and performance-based pay, ensuring alignment with strategic goals and shareholder interests[192]. - The company has established a training program aimed at enhancing employee skills and promoting internal talent development[193]. - The company is committed to creating a diverse benefits program to enhance employee welfare and motivation[192]. Shareholder Engagement - The company held its first extraordinary general meeting of 2024 on February 29, with a participation rate of 49.99%[150]. - The annual general meeting for 2023 was conducted on April 23, with a participation rate of 49.96%[151]. - The company has provided opportunities for minority shareholders to express their opinions and protect their rights[199]. - The company reported a total of 18.18 million shares voted in the recent shareholder meeting, indicating strong shareholder engagement[154].