Absen(SZ:300389)2025-03-31 10:35Financial Performance - The company achieved operating revenue of 366,261.65 million RMB, a decrease of 8.58% compared to 2023, with overseas market revenue growing by 13.78% to 293,088.14 million RMB, while domestic revenue fell by 48.84% to 73,173.51 million RMB[6]. - The company's operating revenue for 2024 was approximately ¥3.66 billion, a decrease of 8.58% compared to ¥4.01 billion in 2023[25]. - The net profit attributable to shareholders for 2024 was approximately ¥116.89 million, down 62.98% from ¥315.74 million in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥75.90 million, a decline of 72.51% from ¥276.07 million in 2023[25]. - The cash flow from operating activities for 2024 was approximately ¥152.72 million, a decrease of 71.18% compared to ¥529.84 million in 2023[25]. - The total assets at the end of 2024 were approximately ¥3.67 billion, down 7.51% from ¥3.97 billion at the end of 2023[25]. - The company's basic earnings per share for 2024 was ¥0.3192, a decrease of 63.41% from ¥0.8723 in 2023[25]. - The company reported a significant decline in net profit in the fourth quarter of 2024, with a loss of approximately ¥809,980.68 attributable to shareholders[27]. - The company reported a net cash flow from operating activities of ¥152,720,937.58, a decrease of 71.18% compared to the previous year[114]. Market Trends - The global LED display market is expected to reach approximately ¥53.5 billion in 2024, with a steady growth trend[34]. - The company anticipates continued growth in the global LED display market, with an expected annual growth rate of around 8% in the coming years[34]. - The domestic display market faces challenges due to reduced government procurement, while international demand remains stable[35]. - The global LED display market is projected to reach $7.991 billion by 2025, driven by the demand for flexible rental displays[109]. - Emerging technologies such as MicroLED and integrated display control are driving a new wave of innovation in the LED display industry[136]. Product Development and Innovation - The company has developed and launched new energy storage products, expanding its market reach to Europe, Asia-Pacific, and domestic markets[52]. - The company is focused on optimizing resource allocation and market structure in response to varying domestic and international market conditions[53]. - The company is developing a new NT series product aimed at enhancing market share in the indoor rental market, with a focus on P1.9 and P3.9 products[107]. - The company is launching a professional sports stadium screen that features low-power cooling design and modular design for quick installation, enhancing market value in sports events[108]. - The company is enhancing user experience with self-developed 4K TV OS, offering personalized themes and improved interaction[109]. - The company is focused on integrating advanced features such as magnetic shielding and peak brightness technology to enhance product competitiveness in the market[110]. - The company aims to create a high-end virtual studio product with a refresh rate of up to 8670Hz in high brightness mode, significantly improving brand influence in the virtual shooting field[110]. Strategic Initiatives - In 2025, the company plans to expand its business scale and brand influence by enhancing its global sales network and developing high-end COB products for ultra-high-definition displays[8]. - The company will continue to implement the DSTE strategic management methodology to ensure effective execution of its strategies and business objectives in 2025[8]. - The company is focusing on strengthening its talent pool, brand marketing, channel construction, and operational capabilities to enhance its overall competitiveness[8]. - The company aims to deepen market penetration and layout while reinforcing its service competitiveness globally[8]. - The company plans to invest approximately 461 million yuan in R&D from 2022 to 2024, focusing on core technologies such as Micro LED and virtual shooting[165]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[9]. - The company is facing risks from exchange rate fluctuations due to geopolitical uncertainties, including the Russia-Ukraine conflict and global inflation[163]. - The company is committed to optimizing its internal organizational structure and processes to manage risks associated with global business expansion[166]. Corporate Governance - The company maintains independence from its controlling shareholders in business operations, personnel, assets, and finances, ensuring no competition with them[182]. - The company has a complete independent personnel management system, with no overlap between directors and supervisors[183]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, aligning compensation with performance[178]. - The company emphasizes information disclosure and transparency, ensuring all investors have equal access to information[180]. - The company has a well-defined organizational structure that promotes effective checks and balances among its governance bodies[185]. Shareholder Engagement - The annual shareholders' meeting had a participation rate of 52.44% on May 7, 2024, while the first extraordinary shareholders' meeting of 2024 had a participation rate of 48.21% on August 23, 2024[188]. - The total number of shares returned was 9,029 million, indicating a strong commitment to shareholder value[191]. - The financial director, Zhang Lingrong, reported a total of 27,450 shares returned, reflecting the company's ongoing efforts to manage its equity effectively[191].