JASIC(SZ:300193)2025-03-28 09:10Financial Performance - The company's operating revenue for 2024 reached ¥1,259,707,250.52, representing a 9.90% increase compared to ¥1,146,179,186.03 in 2023[20]. - The net profit attributable to shareholders for 2024 was ¥255,268,381.96, a 25.46% increase from ¥203,469,538.72 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥245,059,308.36, reflecting a 32.89% increase from ¥184,409,790.15 in 2023[20]. - The basic earnings per share for 2024 increased to ¥0.54, up 28.57% from ¥0.42 in 2023[20]. - The total assets at the end of 2024 amounted to ¥3,039,825,423.52, a 5.83% increase from ¥2,872,322,343.82 at the end of 2023[20]. - The net assets attributable to shareholders decreased by 1.65% to ¥2,236,839,500.06 from ¥2,274,464,846.22 in 2023[20]. - The net cash flow from operating activities for 2024 was ¥236,761,046.00, down 23.07% from ¥307,778,089.01 in the previous year[20]. - The weighted average return on net assets for 2024 was 11.36%, an increase of 1.99% from 9.37% in 2023[20]. - Operating profit reached ¥298,754,581.58, reflecting a growth of 30.22% compared to the previous year[37]. - Industrial revenue accounted for 98.61% of total revenue, with a total of ¥1,242,182,444.80, up 10.73% from the previous year[50]. - Export sales contributed ¥666,080,020.27, making up 52.88% of total revenue, with a growth of 7.68% year-on-year[51]. - Domestic sales increased by 14.48% to ¥576,102,424.53, representing 45.73% of total revenue[51]. - The gross profit margin for the industrial sector was 29.92%, with a year-on-year increase of 0.63%[51]. - The company sold 948,559 units in 2024, a 22.87% increase from 771,991 units in 2023[55]. Cash Flow and Investments - The net cash flow from operating activities decreased by 23.07% to ¥236,761,046.00 from ¥307,778,089.01 in 2023[64]. - Investment cash inflow increased significantly by 360.61% to ¥131,542,024.94 from ¥28,558,114.92 in 2023[64]. - The company's investment amount for the reporting period reached ¥273,129,441.61, representing a 128.04% increase compared to ¥119,772,015.50 in the same period last year[74]. - The company has reported a total of 22,428.01 million RMB in entrusted financial management, with an occurrence amount of 10,400.00 million RMB and no overdue amounts[192]. - The company plans to use up to 30 million RMB of idle funds for strategic investment in Beijing Kaipulin Optoelectronic Technology Co., Ltd. A-share stock[197]. Product Development and Market Position - The welding equipment manufacturing industry is experiencing a shift towards automation and digitalization, with increasing demand for high-efficiency and environmentally friendly products[32]. - The company has launched several new product lines, including the JET20 and EVO20 series, marking a significant advancement in digital welding technology[33]. - The company remains a leading player in the domestic welding equipment market, focusing on R&D and innovation to enhance product value and quality[34]. - The company launched the JET20 Pro series gas shielded welding machine, which has received positive market feedback[41]. - The EVO20 series phase II welding and cutting products have completed development and are entering small batch trial production[41]. - The company is expanding its industrial machine team and enhancing training for sales and service personnel to meet market demands[38]. Risks and Challenges - The company is facing risks including international political and economic risks, intensified market competition, and fluctuations in procurement costs[4]. - The company faces risks from international political and economic uncertainties that may challenge sales growth, prompting a strategy of internationalization and diversification[86]. - The company has seen an increase in accounts receivable, which poses a risk of bad debts, and plans to strengthen credit management and collection efforts[87]. - Fluctuations in raw material prices, particularly for electronic components and metals, may impact procurement costs, and the company will monitor these trends closely[89]. - The company holds significant dollar-denominated assets, making it susceptible to exchange rate fluctuations, and will optimize its financial management strategies accordingly[90]. Corporate Governance and Management - The board of directors consists of 7 members, including 3 independent directors, meeting legal and regulatory requirements[100]. - The company has completed the re-election of the board of directors and the supervisory board during the reporting period[101][102]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[103]. - The company maintains an independent financial accounting department and a complete financial management system[110]. - The company ensures that all shareholders, especially minority shareholders, have equal rights and can fully exercise their rights[98]. - The company has implemented an investor relations management system to enhance transparency and communication with investors[107]. - The company operates independently from its actual controller, ensuring no interference in its business operations[109]. - The company has established an independent labor, personnel, and compensation management system, fully independent from other companies controlled by the actual controller[165]. - The company has committed to ensuring that related party transactions are conducted in a fair and equitable manner[165]. Employee and Community Engagement - The total number of employees at the end of the reporting period is 1,113, with 974 in the parent company and 139 in major subsidiaries[137]. - The employee composition includes 582 production personnel, 150 sales personnel, 180 technical personnel, 25 financial personnel, 104 administrative personnel, and 72 others[137]. - The company has established a scientific and reasonable compensation management system, including fixed and variable compensation components[138][139]. - The company conducted diverse training activities through its Jia Shi Academy, focusing on enhancing the skills of sales, technical, and production personnel[140]. - The company actively engages in social responsibility initiatives, focusing on creating value for customers, employees, shareholders, and society[159]. - The company has invested over 120,000 yuan in consumer assistance products to support frontline workers as part of rural revitalization efforts[163]. Environmental Responsibility - The company has established an environmental management system compliant with ISO14001:2015 standards and has received certification[156]. - The company generates no industrial wastewater and treats domestic sewage to meet local standards before discharge[154]. - The company has implemented measures to control emissions of waste gas and noise, complying with relevant environmental standards[155]. Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of ¥2 per 10 shares to all shareholders, based on a total of 476,249,805 shares[4]. - The cash dividend policy complies with the company's articles of association and is clearly defined[142]. - The total distributable profit for the period is RMB 519,984,055.18, with the cash dividend representing 100% of the profit distribution[144]. - The cash dividend distribution is in line with the company's growth stage and significant capital expenditure plans, meeting the minimum requirement of 20%[144]. Audit and Compliance - The internal control system is deemed effective, with no significant deficiencies identified in financial reporting controls[149]. - The internal control evaluation report will be fully disclosed on March 29, 2025, covering 100% of the company's consolidated financial statement assets[150]. - The company has established a complete internal control system to ensure compliance and safeguard assets[149]. - There were no significant defects in financial or non-financial reporting identified during the audit[152]. - The company has not faced any penalties from securities regulatory authorities for directors and supervisors in the past three years[126].