JMC(SZ:000550)2025-03-28 14:45Financial Performance - The company's operating revenue for 2024 reached ¥38,374,160,748, representing a 15.70% increase compared to ¥33,167,325,081 in 2023[17]. - Net profit attributable to shareholders for 2024 was ¥1,537,139,024, a 4.17% increase from ¥1,475,597,266 in 2023[17]. - The net profit after deducting non-recurring gains and losses was ¥1,356,329,085, marking a significant 36.28% increase from ¥995,236,837 in 2023[17]. - Basic earnings per share for 2024 were ¥1.78, up 4.17% from ¥1.71 in 2023[18]. - The company reported a net profit of 180,809,939 yuan for the year, a decrease from 480,360,429 yuan in the previous year[24]. - The company's revenue for 2024 was 38.374 billion yuan, representing a 15.7% increase compared to the previous year[41]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a 20% year-over-year growth[96]. Cash Flow and Assets - The net cash flow from operating activities decreased by 42.35% to ¥2,633,384,217 from ¥4,567,539,866 in 2023[18]. - Total assets at the end of 2024 amounted to ¥30,839,912,640, a 5.83% increase from ¥29,141,187,886 in 2023[18]. - The total cash and cash equivalents increased by ¥728.66 million, a decline of 77.25% compared to the previous year[57]. - As of the end of 2024, cash and cash equivalents amounted to ¥12,546,295,890, representing 40.68% of total assets, an increase of 0.08% compared to the beginning of 2024[59]. - The company’s financing activities generated a net cash outflow of ¥545.38 million, a significant increase of 183.97% compared to the previous year[57]. Production and Sales - In 2024, the company achieved a total vehicle production and sales of 3,128.2 million and 3,143.6 million units, representing year-on-year growth of 3.7% and 4.5% respectively[27]. - The company achieved total vehicle sales of 341,208 units, a year-on-year increase of 10.06%[40]. - The total production volume for 2024 was 344,841 units, reflecting a 12.17% increase from the previous year[40]. - The production and sales of new energy vehicles reached 1,288.8 million and 1,286.6 million units, with year-on-year growth of 34.4% and 35.5% respectively, accounting for 40.9% of total new vehicle sales[28]. - The company’s light truck production increased by 23.60% year-on-year, while SUV production rose by 11.35%[31]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥7.12 per 10 shares, based on a total of 863,214,000 shares[5]. - The company plans to distribute a cash dividend of 7.12 yuan per 10 shares, totaling 614,608,368 yuan, which represents 100% of the profit distribution[135]. - The company has a total distributable profit of 9,179,333,271 yuan for the reporting period[135]. Research and Development - The company reported a research and development expenditure of 1.315 billion yuan, an increase of 2.21% year-on-year[41]. - The number of R&D personnel increased by 6.10% to 2,628, with a higher proportion of staff holding master's degrees[55]. - The company plans to launch a new electric SUV platform in the second half of 2025, aiming to enhance competitiveness and meet future policy requirements[54]. - A strategic acquisition of a technology firm was completed for $200 million, aimed at enhancing R&D capabilities[101]. Market Strategy and Expansion - The company is focusing on digital transformation to improve operational efficiency and customer-centric solutions, including the launch of the Jiangling Lexing system for logistics collaboration[30]. - The company plans to enhance its technological investment in new products, smart connectivity, and lightweight solutions, aiming for a production capacity of 320,000 units with a utilization rate of 108%[30]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of the fiscal year[100]. - The company plans to launch new electric light commercial vehicles and SUVs to enhance market competitiveness[73]. Governance and Management - The company has established an independent financial department with a standardized accounting system and independent bank accounts[81]. - The company’s governance structure complies with relevant laws and regulations, with no significant discrepancies noted[80]. - The company has appointed a new director, Ms. Zhong Junhua, to the board during the second extraordinary general meeting of 2024[84]. - The company has seen a management change with the resignation of Liu Rangpo and Yang Shenghua as vice presidents effective December 31, 2024, due to job changes[88]. - The company emphasizes the importance of leadership stability in driving future growth and operational efficiency[88]. Environmental Initiatives - The company is committed to completing low-nitrogen combustion retrofitting for its gas (oil) boilers by 2025, aiming to secure a 50% funding subsidy[145]. - The company achieved a 14% reduction in hazardous waste disposal volume per unit in 2024 compared to 2023, saving 800,000 yuan annually in hazardous waste disposal costs[149]. - The company invested a total of 19.13 million yuan in environmental protection initiatives, including 4.33 million yuan for wastewater treatment station operations and 6.83 million yuan for waste disposal[153]. - The company received a funding subsidy of 50,000 yuan after successfully passing the clean production audit for its 2,000-acre base[145]. Risk Management - The company has identified potential risks and corresponding measures in its management discussion and analysis section[5]. - The company maintains a risk-neutral approach in its foreign exchange hedging activities, focusing on financial stability and avoiding currency fluctuation risks[66]. - The internal control system is regularly updated to adapt to changes in internal and external environments, ensuring its effectiveness[138]. Shareholder Structure - The total number of shares outstanding is 863,214,000, with 99.91% being unrestricted shares[193]. - The largest shareholder, Nanchang Jiangling Investment Co., Ltd., holds 41.03% of the shares, totaling 354,176,000 shares[196]. - Ford Motor Company is the second-largest shareholder, owning 32.00% of the shares, which amounts to 276,228,394 shares[196]. - The total number of shareholders at the end of the reporting period was 44,853, a slight decrease from 44,853 at the previous month-end[195].