富士达(835640) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was approximately ¥762.80 million, a decrease of 6.42% compared to ¥815.14 million in 2023[35]. - The net profit attributable to shareholders for 2024 was approximately ¥51.13 million, representing a significant decline of 65.02% from ¥146.17 million in 2023[35]. - The gross profit margin for 2024 decreased to 32.70%, down from 41.40% in 2023[35]. - The weighted average return on equity based on net profit attributable to shareholders was 5.96% for 2024, down from 18.34% in 2023[35]. - The basic earnings per share for 2024 was ¥0.2723, a decrease of 65.02% from ¥0.7786 in 2023[35]. - Net profit attributable to shareholders decreased by 62.03% year-on-year, amounting to ¥51,126,712.39[38]. - Operating income decreased by 6.42% to ¥762,797,542.26, with a significant decline in revenue growth[39]. - The company's operating profit decreased by CNY 108.59 million, a decline of 66.38%, primarily due to reduced demand in the defense sector and price cuts on defense products[7]. - Total profit decreased by CNY 108.53 million, a decline of 66.40%, mainly attributed to the decrease in operating profit[10]. - Net profit decreased by CNY 96.42 million, a decline of 62.03%, primarily due to the reduction in operating profit[12]. Assets and Liabilities - Total assets increased by 3.69% to ¥1,426,750,193.01 compared to the end of 2023[37]. - The total liabilities increased by 7.27% to ¥520,439,028.22, indicating a rise in financial obligations[37]. - The company reported a current ratio of 2.11, indicating strong liquidity compared to 1.75 in 2022[37]. - Short-term borrowings decreased by 55.94% to ¥212.78 million from ¥482.97 million[78]. - Accounts receivable increased by 28.89% to ¥565.88 million from ¥439.04 million[78]. - The company reported a 212.72% increase in credit impairment losses, amounting to -¥233.94 million[82]. Research and Development - Research and development expenses increased by 18.37% to ¥86.39 million, up from ¥72.98 million[81]. - The company has a total of 179 valid patents, including 23 invention patents, indicating a robust focus on innovation and intellectual property[52]. - The company has completed the technical validation of lightweight cable components, aiming to secure bulk orders and enhance competitive advantage in the cable assembly sector[113]. - The company is developing low-cost, high-reliability RF products for commercial aerospace projects, with capabilities to cover a full range of RF products[114]. - The company aims to lead the development of high-density interconnect technology and multifunctional integrated modules, supporting rapid iteration and customization for clients[133]. Market and Industry Trends - The global connector market size increased from $51.18 billion in 2013 to $81.85 billion in 2023, with a projected growth to $85.1 billion in 2024, reflecting a strong industry trend[62]. - The Chinese connector market is expected to grow from 178 billion RMB in 2023 to 185.1 billion RMB in 2024, indicating significant domestic market potential[62]. - The demand for high-performance RF coaxial connectors is significantly increasing due to the comprehensive deployment of 5G networks and the advancement of 6G technology[67]. - The aerospace sector completed 68 launch missions in 2024, successfully placing a total of 257 various spacecraft into orbit, indicating a focus on higher technical content despite a slight slowdown in launch frequency[64]. - The automotive sector is experiencing a growing demand for RF coaxial connectors, particularly in advanced driver-assistance systems (ADAS), ensuring real-time and accurate environmental perception[71]. Strategic Initiatives - The company has established strategic cooperation with leading clients in the commercial aerospace field, enhancing its market position[7]. - The company is actively expanding into emerging markets such as aerospace, commercial satellites, and quantum communications, demonstrating its strategic growth initiatives[53]. - The company has implemented a refined delivery management model, significantly improving customer satisfaction and operational efficiency[60]. - The company is focusing on expanding new markets and customer bases to reduce the high customer concentration risk[151]. - The company has increased investment in new fields and key projects to enhance its technological leadership capabilities[151]. Corporate Governance and Shareholder Information - The company’s registered capital is CNY 6.4 billion, and it operates under the supervision of the State-owned Assets Supervision and Administration Commission[177]. - The largest shareholder, AVIC Optoelectronics Technology Co., Ltd., holds 87,551,776 shares, representing 46.64% of total shares[170]. - The profit distribution policy emphasizes a minimum cash dividend of 10% of the distributable profit, contingent on sufficient cash flow and no major investment plans[185]. - The company distributed a cash dividend of CNY 3.00 per 10 shares, totaling CNY 56.32 million for the 2023 fiscal year[185]. - The company has not experienced any changes in its actual controller during the reporting period[177].