CECO(SH:603698)2025-03-31 09:20Financial Performance - The company's operating revenue for 2024 reached RMB 3,409,721,109.49, representing a 21.46% increase compared to RMB 2,807,383,491.57 in 2023[19] - The net profit attributable to shareholders for 2024 was RMB 189,206,363.11, a slight increase of 1.09% from RMB 187,158,325.77 in 2023[19] - The net profit after deducting non-recurring gains and losses was RMB 178,250,788.40, showing a decrease of 1.19% from RMB 180,392,608.69 in the previous year[19] - Cash flow from operating activities increased by 63.97% to RMB 614,022,555.24 in 2024, up from RMB 374,478,256.13 in 2023[19] - Total assets as of the end of 2024 amounted to RMB 8,524,314,639.39, reflecting a significant increase of 56.05% from RMB 5,462,392,753.24 at the end of 2023[19] - The net assets attributable to shareholders increased by 3.91% to RMB 3,399,938,391.04 at the end of 2024, compared to RMB 3,272,095,509.83 at the end of 2023[19] - Basic earnings per share for 2024 remained stable at CNY 0.35, unchanged from 2023, while diluted earnings per share also held steady at CNY 0.35[20] Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.08 per share, totaling approximately RMB 57,886,920.00 based on the total share capital of 53,599,000 shares[4] - The cumulative cash dividend amount over the last three accounting years is 166,692,890.00 CNY, with an average cash dividend payout ratio of 92.02%[141] - The total number of shares for the dividend calculation is 53,599,000 shares as of December 31, 2024[139] - The company's profit distribution plan requires approval from more than half of the voting rights at the shareholders' meeting[136] Operational Highlights - The company signed 36 new project design and consulting contracts in the coal clean and efficient utilization sector, achieving a record of 100 operational gasification units[29] - The company completed over 300 project deliveries in the high-end equipment manufacturing sector, expanding into new markets such as polyolefins and polysilicon[29] - The company completed 36 project design and consulting contracts and achieved long-term stable operation of 105 gasification units across 50 projects, with the longest operational record reaching 489 days[41] - The company successfully delivered 2 digital projects and received a certificate for classic cases of digital delivery from the Petrochemical Exploration Association[33] Research and Development - The company obtained 33 patent authorizations in 2024, including 22 invention patents, enhancing its technological innovation capabilities[30] - Research and development expenses reached 246,676,800.81 RMB, up 53.18% compared to the previous year[50] - Total R&D expenditure amounted to RMB 246,711,585.38, representing 7.24% of the company's revenue[69] - The company has 204 R&D personnel, accounting for 23.91% of the total workforce[70] Market and Competitive Position - The company has a market share of 11% in the pulverized coal gasification sector, demonstrating its core competitiveness in the industry[41] - The industrial gas operation business contributed 37.48% to the company’s total operating revenue and 24.45% to net profit[51] - The company is focusing on the development of clean and efficient coal utilization technologies, aligning with national policies for low-carbon transformation in the coal chemical industry[40] Governance and Compliance - The company held 7 shareholder meetings, 10 board meetings, and 7 supervisory board meetings during the reporting period, achieving a high level of governance efficiency and winning the "2024 Excellent Practice Case of Listed Company Board" award[32] - The company emphasizes transparent information disclosure and investor communication to ensure fair access to information for all shareholders[102] - The company has maintained a stable internal control system, continuously improving its risk management and compliance processes[143] - The company has confirmed that there are no violations or penalties involving its directors, supervisors, senior management, or controlling shareholders[164] Environmental and Social Responsibility - The company has received energy management system certification and is optimizing energy utilization to reduce consumption[154] - The company has implemented measures to reduce carbon emissions by 130,000 tons through the development of large-scale dry coal powder gasification technology[154] - The wastewater reuse rate is approximately 30%, with treated wastewater used for landscaping[154] - The total investment in poverty alleviation and rural revitalization projects is 302,900 yuan, focusing on consumption poverty alleviation[157] Future Outlook and Strategic Initiatives - The company plans to enhance its core technology and management efficiency to drive innovation and achieve high-quality development by 2025[91] - The company will focus on technology innovation in traditional fields and explore new technologies such as biomass gasification and green hydrogen engineering[92] - Future guidance remains optimistic, with expectations for revenue growth driven by ongoing projects and market demand[109] - The company is committed to maintaining transparency with shareholders regarding financial performance and strategic initiatives[106]