大地熊(688077) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 1,318,727,119.28, a decrease of 7.79% compared to CNY 1,430,150,638.24 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY 31,873,366.99, a significant recovery from a loss of CNY 42,805,881.99 in 2023[21]. - The cash flow from operating activities decreased by 36.27% to CNY 117,206,273.54 in 2024, down from CNY 183,908,240.38 in 2023[21]. - Basic earnings per share for 2024 increased to CNY 0.28, compared to a loss of CNY 0.38 in 2023[22]. - The weighted average return on equity rose by 6.78 percentage points to 2.98% in 2024, up from -3.80% in 2023[22]. - The company reported a net profit increase of CNY 74,679,200 for the period, primarily due to increased product sales and improved gross margins[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7.03 million, also a turnaround from loss to profit[33]. - The company achieved operating revenue of CNY 1,318.73 million, a year-on-year decrease of 7.79%[33]. - The gross profit margin for the industrial motor segment increased by 4.12 percentage points, reaching 18.94%[80]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.20 per share (including tax), totaling RMB 22,082,660.80 (including tax) based on 110,413,304 shares after excluding treasury shares[5]. - The cash dividend represents 69.28% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is RMB 31,873,366.99[151]. - The cumulative cash dividend over the last three accounting years amounts to RMB 90,528,488.80, with an average annual net profit of RMB 46,267,111.82, resulting in a cash dividend ratio of 195.66%[152]. - The company’s cash dividend distribution does not include stock dividends or capital reserve transfers to increase share capital[148]. Research and Development - Research and development expenses accounted for 5.78% of operating revenue in 2024, an increase from 5.61% in 2023[22]. - The total R&D investment for the year is 76,277,953.59 RMB, a decrease of 4.87% compared to the previous year, with R&D investment as a percentage of operating income increasing to 5.78%[55]. - The company applied for 33 patents during the reporting period, including 13 invention patents, and received 20 patent grants, with a total of 297 patent applications filed to date[53]. - The company has established a core technology system for the production of sintered NdFeB magnets, covering multiple aspects including preparation, machining, surface protection, and remanufacturing[49]. - The company has developed new technologies that improved the performance of high remanence products, achieving a remanence of 15.05 kGs and an average increase of 0.5-1 MGOe in maximum energy product for ultra-high performance magnets[50]. - The company is focusing on the development of green recycling technologies for sintered rare earth permanent magnets, aiming to replace existing products with similar performance[58]. Market and Industry Trends - In 2024, China's production and sales of new energy vehicles are expected to reach 12.888 million and 12.866 million units, marking year-on-year growth of 34.4% and 35.5% respectively[46]. - The production of industrial robots in China is anticipated to reach 556,000 units in 2024, reflecting a year-on-year increase of 14.2%[46]. - The average price of rare earth metals decreased year-on-year, putting pressure on product sales prices[33]. - The company is positioned in the rare earth permanent magnet industry, which is experiencing increasing market concentration and competitive advantages for high-performance producers[108]. Governance and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[4]. - The company has maintained stable supply chain relationships with major automotive manufacturers, including BYD and Ford, and has received the New Insight Contribution Award from Midea Group[68]. - The company adheres to legal and regulatory requirements, ensuring a well-structured governance system with clear responsibilities and effective checks and balances[118]. - Information disclosure obligations are actively fulfilled, ensuring transparency and protecting the rights of shareholders and investors[120]. - The company has established dedicated personnel for investor relations, actively engaging with stakeholders and addressing their inquiries and suggestions[120]. Environmental and Social Responsibility - The company invested 9.63 million CNY in environmental protection during the reporting period[169]. - The renewable energy usage ratio for the company reached 47.32% in the reporting period, enhancing its low-carbon development efforts[168]. - The company has implemented measures to reduce carbon emissions by 21,612.55 tons, including the purchase of green electricity and the use of high-efficiency equipment[185]. - The company reported zero violations in wastewater, waste gas, noise, and solid waste management, with all pollutants meeting discharge standards[179]. - The company donated a total of 1.101 million yuan in 2024, including 620,000 yuan for establishing scholarships and 281,000 yuan for educational assistance[190][192]. Employee and Management - The total number of shares held by executives increased from 55,611,297 to 56,032,809, representing a change of 421,512 shares[124]. - The company has a remuneration decision-making process that involves the remuneration and assessment committee and requires approval from the board of directors[133]. - The company has established a performance management system that is results-oriented and incentivizes employees based on individual performance and company results[143]. - The company is committed to enhancing employee retention through stock incentive plans and other measures[144]. - The company has a total of 1,628 employees, with 900 in the parent company and 728 in major subsidiaries[142].