FJGF(SZ:002662)2025-03-28 10:35Financial Performance - The company's operating revenue for 2024 was ¥3,094,801,500.80, a decrease of 14.06% compared to ¥3,600,919,859.24 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥353,922,291.40, down 29.70% from ¥503,459,989.84 in 2023[6]. - Basic and diluted earnings per share decreased by 29.41% to ¥0.24 in 2024, down from ¥0.34 in 2023[6]. - The total assets at the end of 2024 were ¥5,315,356,728.40, reflecting a 1.83% increase from ¥5,219,668,824.78 at the end of 2023[6]. - The net assets attributable to shareholders increased by 4.97% to ¥4,307,584,376.43 at the end of 2024, compared to ¥4,103,662,085.03 at the end of 2023[6]. - The company reported a total of ¥2,218,449.50 in non-recurring gains and losses for 2024, significantly lower than ¥15,099,499.00 in 2023[28]. - The total revenue from automotive parts was 2,181,100,895.68 yuan in 2024, down 14.67% from 2,556,074,396.71 yuan in 2023[73]. - The company achieved operating revenue of CNY 3,094.80 million, a decrease of CNY 50.61 million or 14.06% compared to the previous year[66]. - The net profit attributable to shareholders was CNY 353.92 million, down CNY 149.54 million or 29.70% year-on-year[66]. Dividend Distribution - The company plans to distribute a cash dividend of 0.72 RMB per 10 shares to all shareholders, based on a total of 1,500,000,000 shares[5]. - The cash dividend distribution plan for 2023 proposes a cash dividend of 1 RMB per 10 shares, totaling 150 million RMB, to be distributed on April 29, 2024[159]. - The cash dividend amount for the current period is 108 million RMB, which represents 100% of the total profit distribution[161]. Corporate Governance - The company has a total of 9 board members, including 3 independent directors and 1 employee representative director[21]. - The governance structure includes a board of directors and independent directors, ensuring effective management and oversight[128]. - The company has established an independent financial department, maintaining a complete financial accounting system and not providing any guarantees for the controlling shareholder[129]. - The company has a complete and independent personnel management system, separate from the controlling shareholder[126]. - The company has established a comprehensive strategy for managing related party transactions and has approved various governance amendments at the shareholders' meeting[131]. - The management team includes experienced professionals with backgrounds in finance, engineering, and management, such as the CEO Li Jingyu and CFO Bao Lina[134][139]. Risk Management - The company faces risks including industrial policy risk, market competition risk, and other risks, with corresponding measures outlined in the report[5]. - The automotive parts demand is on an upward trend, but macroeconomic and industry fluctuations pose risks to the company's performance[107]. - The company faces risks from market competition and declining product prices, necessitating increased R&D and market expansion efforts[108]. - Major customers include well-known manufacturers such as FAW-Volkswagen and Beijing Benz, leading to a high customer concentration risk[109]. - Raw material price fluctuations, particularly for metals and plastics, could impact profitability, prompting the company to optimize supply chain management[111]. Research and Development - The company emphasizes technological innovation, with a dedicated R&D team continuously working on new product development and application of new technologies[48]. - The company has developed multiple new technologies aimed at improving production efficiency and product quality[83]. - R&D investment amounted to ¥185,972,143 in 2024, down 12.80% from ¥213,267,713.07 in 2023[84]. - The company aims to enhance its competitiveness in the automotive exterior parts sector through new technologies and processes[80]. - The company is focusing on core business and implementing a flexible configuration mechanism for R&D personnel[84]. Environmental Compliance - The company complies with multiple environmental protection laws and regulations, including the Environmental Protection Law and the Air Pollution Prevention Law[169]. - The company has obtained environmental impact assessment reports and discharge permits that are currently valid for its subsidiaries[170]. - The company executed the "three simultaneous" requirements for environmental impact assessments in its construction projects[170]. - The company has passed the ISO14001 "Environmental Management System Certification" renewal audit, valid from June 29, 2024, to June 28, 2027[181]. - The company has invested a total of 29.3721 million yuan in environmental protection facilities in 2024[178]. Employee Management - The total number of employees at the end of the reporting period is 4,963, with 4,223 in production, 194 in sales, 297 in technical roles, 33 in finance, and 216 in administration[154]. - The company has established a reasonable compensation and benefits system to attract and retain talent[155]. - The company has implemented a training program aimed at enhancing the skills and management capabilities of its workforce[157]. - The company emphasizes employee rights, providing full salary and social insurance, and has passed the ISO45001 Occupational Health and Safety Management System certification[189]. Production and Operations - The company operates under a "sales-driven production" model, aligning production plans with customer orders to manage inventory effectively[45]. - The company has established a comprehensive supply chain management system, ensuring effective control over procurement costs and quality[43]. - The company has advanced intelligent manufacturing capabilities, continuously upgrading its automated production lines to enhance resource allocation and overall asset turnover[55]. - The company has implemented lean management practices to optimize production processes, reduce costs, and improve efficiency across all operational areas[57]. Subsidiaries and Expansion - The company established two new subsidiaries: Beijing Fengjing Automotive Technology Co., Ltd. and Qinhuangdao Titanium Lithium New Energy Co., Ltd.[104]. - The company plans to establish a new lithium battery company in November 2024[146]. - The company will set up a new automotive technology company in December 2024[146]. Financial Management - The company has established a financing management system, ensuring timely repayment of all debts without any defaults or bad credit records[184]. - The company maintains effective communication with investors and has established a robust investor relations management system[123]. - The company strictly adheres to the Securities Law and relevant regulations for information disclosure, ensuring timely and accurate information for all shareholders[124].