Seashine(SZ:300885)2025-03-31 10:30Financial Performance - The company's operating revenue for 2024 reached ¥297,427,206.81, representing a 32.29% increase compared to ¥224,827,756.32 in 2023[20] - Net profit attributable to shareholders for 2024 was ¥71,225,797.26, a 54.24% increase from ¥46,178,493.09 in 2023[20] - The net cash flow from operating activities increased by 124.12% to ¥79,553,077.30 in 2024, up from ¥35,495,244.92 in 2023[20] - Basic earnings per share for 2024 were ¥0.2855, reflecting a 55.08% increase from ¥0.1841 in 2023[20] - Total assets at the end of 2024 amounted to ¥930,141,862.80, a 3.60% increase from ¥897,807,311.05 at the end of 2023[20] - The net assets attributable to shareholders increased by 3.73% to ¥866,524,217.69 at the end of 2024, compared to ¥835,374,556.37 at the end of 2023[20] - The company reported a 74.51% increase in net profit after deducting non-recurring gains and losses, reaching ¥64,188,239.20 in 2024[20] - The weighted average return on net assets for 2024 was 8.36%, an increase of 2.67% from 5.69% in 2023[20] Revenue Breakdown - The company's total revenue for the year was 297,426,206.81 CNY, with a quarterly breakdown showing Q1 at 67,691,633.88 CNY, Q2 at 77,206,985.82 CNY, Q3 at 72,273,258.59 CNY, and Q4 at 80,255,328.52 CNY, indicating a year-on-year growth of 26.88% in the electric tool components segment[23][36] - The revenue from electric tool components accounted for 82.73% of total revenue, amounting to ¥246,061,710.13, with a year-on-year growth of 26.88%[58] - The automotive parts revenue for 2024 was 39,890,515.25 yuan, accounting for 13.41% of total revenue, with a year-on-year increase of 82.78%[38] - Domestic sales contributed ¥110,131,822.94, a 45.27% increase from the previous year, while overseas sales reached ¥186,594,409.14, growing by 25.64%[59] Market and Industry Outlook - The company operates in the powder metallurgy industry, which is expected to see increased domestic market share and a shift towards high-end products due to technological advancements[31][32] - The overall industry outlook remains positive, with expected growth in high-end applications and increased competition from both domestic and international players[32][33] - The projected market size for China's automotive powder metallurgy parts is expected to reach 12.12 billion yuan by 2025, with a compound annual growth rate of approximately 13.77% from 2020 to 2025[38] - The company anticipates further expansion in the electric tools market, driven by the increasing demand for high-performance products and the potential for market share growth in emerging sectors[32][33] Research and Development - The company reported R&D expenses of ¥14,897,692.96, an increase of 7.89% compared to the same period last year, supporting innovation and development efforts[50] - The company has established a research and development team focused on optimizing the injection molding process and improving product consistency and interchangeability[73] - The company is actively developing new products in the automotive, robotics, home appliance, and new energy sectors to create new growth engines[42] - The company has completed initial planning for several R&D projects, indicating a strong focus on innovation and market expansion[68] Governance and Management - The company has maintained a stable financial position, with no changes in equity affecting shareholder interests during the reporting period[22][23] - The company has established a robust independent personnel management system, with all senior management receiving compensation solely from the company[134] - The company has independent financial management with dedicated departments and systems, ensuring no guarantees are provided for shareholders' debts[135] - The company’s board and management structure operates independently, with no interference from shareholders in decision-making processes[136] Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥1.209 per 10 shares, based on a total of 248,151,800 shares[5] - The actual cash dividend paid was CNY 1.209 per 10 shares, amounting to CNY 30.002 million (including tax), with no bonus shares issued[176] - The total cash dividend, including other methods, reached CNY 50.004 million, representing 100% of the total distributable profit of CNY 361.967 million[173] Social Responsibility and Environmental Commitment - The company implemented a "rooftop solar" power generation plan in 2024, generating a total of 2.1016 million kWh to contribute to carbon emission reduction[185] - The company donated 695,000 RMB to social causes during the reporting period, reflecting its commitment to social responsibility[190] - The company directed a donation of 50,000 RMB to support rural revitalization efforts in Han Zhou Village, responding to national calls for poverty alleviation[191] - The company reported no environmental penalties during the reporting period, indicating compliance with environmental regulations[184]