COMEC(SH:600685)2025-04-25 09:50Financial Performance - The company's operating revenue for 2024 reached RMB 19.40 billion, representing a year-on-year increase of 20.17% compared to RMB 16.15 billion in 2023[23]. - The net profit attributable to shareholders for 2024 was RMB 377.26 million, a significant increase of 684.86% from RMB 48.07 million in 2023[26]. - The basic earnings per share for 2024 was RMB 0.2669, reflecting a growth of 685% compared to RMB 0.0340 in 2023[25]. - The weighted average return on equity increased to 2.20% in 2024, up by 1.90 percentage points from 0.30% in 2023[25]. - The total cash dividend for the year, including interim distributions, amounts to RMB 115.91 million (including tax), representing 30.72% of the net profit attributable to shareholders of the listed company[6]. - The company has a retained earnings balance of RMB 1.14 billion to be distributed in future periods[6]. Cash Flow and Assets - The net cash flow from operating activities for 2024 was RMB -21.96 billion, a decrease from RMB 33.12 billion in the previous year, primarily due to increased production scale and material procurement[26]. - The total assets at the end of 2024 amounted to RMB 53.60 billion, an increase of 5.37% from RMB 50.86 billion at the end of 2023[24]. - The net assets attributable to shareholders at the end of 2024 were RMB 17.82 billion, reflecting an 8.57% increase from RMB 16.42 billion at the end of 2023[24]. - The net cash flow from investing activities was RMB -428 million, an increase of RMB 2.672 billion year-on-year, mainly due to a decrease in net outflow of time deposits over three months[77]. - The net cash flow from financing activities was RMB 808 million, an increase of RMB 2.431 billion year-on-year, primarily due to increased net borrowings from financial institutions[77]. Orders and Deliveries - The company secured new orders for 56 ships across 12 types, including 6 methanol dual-fuel container ships and 12 gas carriers, enhancing its market position[41]. - The total value of the company's order backlog reached approximately RMB 61.6 billion, with shipbuilding orders valued at about RMB 58.7 billion, comprising 130 vessels[42]. - The company delivered 37 ships totaling 1.0844 million deadweight tons during the reporting period, including significant defense equipment and various series of ships[42]. - The company completed 165.56% of its annual operational target with a total operational undertaking of RMB 25 billion[41]. Research and Development - Research and development expenses rose by 34.92% to RMB 888 million, reflecting the company's commitment to innovation and technology advancement[49]. - The company has established 13 provincial and national-level technology innovation platforms, enhancing its technological capabilities in shipbuilding[46]. - The company is focusing on developing autonomous products, particularly the "Honghu" series of feeder container ships and the "Haiqing" series of bulk carriers, to improve market competitiveness[75]. Market and Industry Trends - The shipbuilding industry remains buoyant, with new ship orders significantly increasing and prices stabilizing at high levels[43]. - The global new shipbuilding market saw a significant increase in new orders, with a total of 178.035 million deadweight tons, representing a year-on-year growth of 39.3%[86]. - China's shipbuilding industry maintained its global leadership, with new orders and hand-held orders accounting for 69.0% and 66.7% of the world's total, respectively[88]. Environmental Initiatives - The company is actively pursuing green development initiatives, as outlined in the "Green Development Action Plan for Shipbuilding Industry (2024-2030)"[91]. - Environmental protection investments during the reporting period amounted to RMB 46,165,500[191]. - The company has been included in the list of key pollutant discharge units by the Guangzhou Ecological Environment Bureau for 2024[193]. Governance and Compliance - The company adheres to corporate governance standards and has made efforts to improve its governance structure in line with relevant laws and regulations[118]. - The board of directors consists of 8 members, including 1 executive director and 4 independent non-executive directors, ensuring diverse expertise[123]. - The company emphasizes continuous professional development for directors and senior management, with a minimum of 15 hours of training required annually[129]. Shareholder Engagement - The company has established multiple channels for ongoing communication with shareholders, including printed reports and online disclosures[138]. - Shareholders holding more than 10% of the company's shares can request a temporary shareholders' meeting, with a response required from the board within 10 days[139]. - The company held four shareholder meetings during the reporting period, all of which were conducted in compliance with relevant laws and regulations[147].