GETM(SH:600232)2025-04-01 12:10Financial Performance - The company's operating revenue for 2024 was CNY 1,308,125,338.41, a decrease of 4.52% compared to CNY 1,370,074,503.26 in 2023[25]. - The net profit attributable to shareholders for 2024 was CNY 22,354,765.54, down 36.73% from CNY 35,333,124.75 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 19,385,295.11, a decline of 37.67% compared to CNY 31,098,762.06 in 2023[25]. - The company's cash flow from operating activities showed a net outflow of CNY 53,472,606.87, compared to an outflow of CNY 49,817,307.29 in 2023[25]. - Basic earnings per share for 2024 were CNY 0.06, a decrease of 40.00% from CNY 0.10 in 2023[27]. - The diluted earnings per share also stood at CNY 0.06, reflecting a 40.00% decline compared to the previous year[27]. - The weighted average return on net assets decreased to 2.22%, down 1.21 percentage points from 3.43% in 2023[27]. - The company achieved a total revenue of 1.276 billion RMB, a year-on-year decrease of 5.6%[49]. - The net profit attributable to shareholders was 22.3548 million RMB, down 36.73% compared to the previous year[49]. Revenue Breakdown - The textile business saw a revenue increase of 1.42% to 719.88 million RMB, while the textile machinery segment experienced a significant decline of 25.96%[35]. - The plastic machinery segment's revenue was impacted by intensified price competition in the domestic market, leading to an overall decline in business income[36]. - Textile industry revenue was ¥747,623,359.20, with a gross margin of 16.70%, showing a slight increase in gross margin by 2.62 percentage points[53]. - Mechanical industry revenue decreased by 15.51% to ¥502,989,856.18, with a gross margin of 22.20%, down by 1.65 percentage points[53]. - New energy battery material revenue dropped by 51.38% to ¥21,722,093.31, but gross margin increased by 52.97 percentage points[54]. Cash Flow and Investments - Net cash flow from operating activities was negative at -¥53,472,606.87, compared to -¥49,817,307.29 last year[51]. - Net cash flow from investing activities improved to ¥8,147,567.70 from -¥20,997,014.95 in the previous year[51]. - Net cash flow from financing activities increased significantly by 173.81% to ¥60,351,289.78, up from ¥22,041,003.05[51]. Assets and Liabilities - The total assets at the end of 2024 were CNY 1,806,524,082.57, an increase of 5.18% from CNY 1,717,579,620.69 in 2023[26]. - The net assets attributable to shareholders decreased by 6.57% to CNY 967,638,257.10 from CNY 1,035,702,524.97 in 2023[26]. - Total liabilities increased to ¥788,096,730.57 in 2024 from ¥635,692,198.04 in 2023, an increase of approximately 24.0%[190]. - Total equity decreased to ¥1,018,427,352.00 in 2024 from ¥1,081,887,422.65 in 2023, a decline of about 5.9%[190]. Research and Development - Research and development expenses remained stable at ¥29,597,660.70, a slight increase of 0.61% from the previous year[51]. - The number of R&D personnel is 129, representing 6.32% of the total workforce[64]. - The company is focused on high-efficiency, energy-saving, and intelligent product development in the plastic machinery sector, with significant contributions to energy conservation and emissions reduction[48]. - The company plans to increase investment in research and development for jute spinning equipment to meet rising customer demands for automation and efficiency[73]. Market Position and Strategy - The company maintains a leading position in the hemp textile machinery sector following the acquisition of UK-based MAKIE, enhancing its technological capabilities[39]. - The textile machinery manufacturing industry is expected to maintain steady growth, supported by national policies and increasing market demand[39]. - The company aims to leverage the Indian market to boost its textile machinery exports, particularly focusing on partnerships with large jute manufacturers[78]. - The company plans to enhance its domestic and international sales networks for plastic machinery, aiming for synchronized growth in both sales channels[78]. Environmental and Social Responsibility - The company invested 219.70 million in environmental protection during the reporting period[128]. - The company effectively controlled solid waste and legally disposed of 18.614 tons of hazardous waste[130]. - The company’s wastewater treatment facility has a daily capacity of 2,500 tons, with significant investments in environmental management and monitoring[134]. - The company has developed an emergency response plan for environmental incidents, with no reported environmental accidents during the reporting period[136]. Governance and Management - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining the independence of its operations[87]. - The company has appointed a new general manager, Mi He Kang, effective from May 2024[90]. - The company has a total of 9,500 shares held by the deputy general manager, Zhang Zhao Jun, with no changes during the reporting period[90]. - The company has established a systematic employee training plan to enhance skills and overall quality, with a focus on different levels and categories of employees[113]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 36,471,854.40[8]. - The cash dividend represents 163.15% of the net profit attributable to ordinary shareholders in the consolidated financial statements, indicating a high payout ratio[119]. - The total cash dividend for the year 2024 is projected to be 72,943,708.80 RMB, which accounts for 326.30% of the net profit attributable to shareholders[119].