TENGEN(SH:605066)2025-03-28 11:10Financial Performance - The company's operating revenue for 2024 was CNY 2,918,538,449.47, representing a 1.38% increase compared to CNY 2,878,933,990.87 in 2023[23]. - The net profit attributable to shareholders of the listed company decreased by 24.94% to CNY 121,370,769.09 from CNY 161,704,514.40 in the previous year[23]. - The net cash flow from operating activities significantly dropped by 76.60% to CNY 112,346,221.51 compared to CNY 480,208,936.09 in 2023[23]. - Total assets as of the end of 2024 were CNY 3,166,610,825.26, down 8.46% from CNY 3,459,281,819.17 at the end of 2023[23]. - The net assets attributable to shareholders of the listed company decreased by 1.47% to CNY 1,806,873,275.15 from CNY 1,833,895,481.31 at the end of 2023[23]. - Basic and diluted earnings per share for 2024 were both 0.24 RMB, a decrease of 40% from 0.40 RMB in 2023[24]. - The weighted average return on equity was 6.63%, down 2.12 percentage points from 8.75% in 2023[24]. - The company reported a net cash flow from operating activities of -5.38 million RMB in Q1 2024, indicating cash outflow[26]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.5 per 10 shares, totaling CNY 126,654,468.75 based on a total share capital of 506,617,875 shares[6]. - The cumulative cash dividend over the last three accounting years amounts to 379,232,568.75 RMB, with a cash dividend ratio of 346.65% based on the average annual net profit[150]. - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares for the 2024 annual profit distribution, with no stock increase or bonus shares[144]. Research and Development - The company increased its investment in research and development, contributing to the decline in net profit due to market environment impacts[34]. - The total research and development (R&D) expenses amounted to ¥161,056,819.46, representing 5.52% of the total operating revenue[94]. - The company has 473 R&D personnel, accounting for 15% of the total workforce[96]. - The company applied for 196 patents during the reporting period, a 20% increase from 2023, with 64 of these being invention patents, reflecting a 106.5% growth[45]. - The company is enhancing its R&D capabilities through partnerships with renowned universities and innovation platforms, aiming to accelerate the development of high-voltage and intelligent products[111]. Market Expansion and Strategy - The company focused on developing major industry clients and distribution channel construction, particularly in the new energy, electricity, telecommunications, and construction sectors[34]. - The company plans to expand its international presence by actively exploring overseas markets and enhancing its competitiveness in the global supply chain[108]. - The company is actively pursuing mergers and acquisitions to enhance its competitive edge and market share[123]. - The company is committed to fostering a positive corporate culture and implementing performance-driven incentives to retain key talent[114]. Operational Efficiency and Quality Management - The company implemented a digital quality management system, significantly improving customer satisfaction and achieving a first-pass yield rate of over 99.9%[50]. - The company has established a large-scale customization model for high-value clients, enhancing the maturity of smart factory construction, and was recognized as one of the first national excellence-level smart factories by the end of 2024[53]. - The company has achieved a 95% coverage rate of intelligent manufacturing in key processes, with a 35% reduction in product defect rates[77]. - The company has implemented a "zero-defect" quality management system to improve production efficiency and reduce costs through new materials and processes[111]. Environmental Responsibility - The company is focused on environmental responsibility, implementing various measures to manage waste and emissions effectively[160]. - The company implemented carbon reduction measures, achieving a reduction of 758.46 tons of CO2 equivalent emissions[161]. - The company established a rooftop photovoltaic power generation system in its factories to enhance renewable energy utilization and reduce carbon emissions[161]. - The company has signed agreements with qualified monitoring units for regular environmental assessments and hazardous waste disposal[160]. Corporate Governance - The company has established a clear governance structure with defined responsibilities among power, decision-making, supervisory bodies, and management[117]. - The board of directors and supervisory board comply with legal requirements, ensuring independent operation and oversight of financial and managerial activities[118]. - The company maintains complete independence from its controlling shareholders in personnel, assets, finance, and operations[118]. - The company has established specialized committees, including an audit committee and a strategic committee, to enhance governance and decision-making processes[132]. Risk Management - The company is facing risks from geopolitical tensions, market competition, and raw material price fluctuations, which could impact its operational performance[113]. - The company is focusing on enhancing customer credit management to mitigate accounts receivable risks as its customer base expands[114]. - The company has not reported any significant changes in business, products, or services during the reporting period[91]. Employee Management - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 8.2303 million yuan[127]. - The company has a structured compensation policy that aligns employee remuneration with individual performance and company profitability[140]. - The company has established a comprehensive training program aimed at enhancing employee skills and performance[141]. Financial Management - The company reported a significant increase in lease liabilities by 380.55% to CNY 26.06 million from CNY 5.42 million[100]. - The company has no major litigation or arbitration matters in the current year[188]. - The company has no significant risks of delisting or bankruptcy restructuring[185].