JDM(SH:603088)2025-04-02 09:40Financial Performance - The company's operating revenue for 2024 reached RMB 817,536,753.80, representing a 15.38% increase compared to RMB 708,587,218.33 in 2023[23]. - Net profit attributable to shareholders for 2024 was RMB 164,601,866.49, a 3.37% increase from RMB 159,238,705.67 in 2023[23]. - The net profit after deducting non-recurring gains and losses was RMB 157,540,786.87, up 7.15% from RMB 147,026,180.63 in 2023[23]. - The cash flow from operating activities net amount was RMB 117,503,011.78, down 30.06% from RMB 168,006,334.37 in 2023[23]. - The total assets at the end of 2024 were RMB 1,386,454,455.86, a decrease of 3.15% from RMB 1,431,611,537.75 at the end of 2023[23]. - The net assets attributable to shareholders increased to RMB 777,897,888.21, a 7.00% rise from RMB 727,001,099.24 in 2023[23]. - Basic earnings per share for 2024 were RMB 0.38, a 5.56% increase from RMB 0.36 in 2023[24]. - The weighted average return on equity for 2024 was 22.39%, a decrease of 1.62 percentage points from 24.01% in 2023[24]. Revenue Breakdown - In Q1 2024, the company achieved operating revenue of 182.90 million RMB, with a net profit attributable to shareholders of 53.32 million RMB, and a net cash flow from operating activities of 3.57 million RMB[26]. - For Q2 2024, the operating revenue was 213.48 million RMB, with a net profit of 34.31 million RMB, and a significant increase in net cash flow from operating activities to 53.23 million RMB[26]. - The company reported a total operating revenue of 81.75 million RMB for the reporting period, representing a year-on-year growth of 15.38%, while the net profit attributable to shareholders increased by 3.37%[33]. - The microchannel business generated revenue of 13.98 million RMB, reflecting a year-on-year growth of 15.93%, while the pressure machine business revenue was 33.83 million RMB, up 10.04%[33]. - The company’s revenue from heat exchangers reached 32.42 million RMB, marking a year-on-year increase of 22.48%[33]. Strategic Acquisitions - The company plans to acquire Wuxi Micro Research for 360 million RMB to support its transformation into a comprehensive service provider for customized forming technology and equipment[34]. - The company is planning to acquire 100% equity of Wuxi Weiyan Co., Ltd. through a share issuance and fundraising, with the plan approved by the exchange in March 2025[35]. - The acquisition will add precision grinding tools, precision stamping parts, and micro-hole electrical discharge machine tool businesses, enhancing the company's transition from equipment supplier to comprehensive production solution provider[35]. Market Position and Growth - The company has maintained a leading market share in the air conditioning heat exchanger equipment market, with overseas sales continuing to grow, becoming a supplier for major global automotive parts companies[34]. - The company ranks among the top in China's heat exchanger forming equipment industry, benefiting from the global trend towards energy efficiency upgrades and the replacement of outdated air conditioning products[42]. - The company’s microchannel heat exchanger equipment is widely applied in the automotive industry, recognized by major global users, with significant market opportunities driven by the strong development of new energy vehicles[43]. Research and Development - The company has developed a patented, globally innovative fin retrieval machine, significantly improving competitiveness in the ultra-high-speed fin punching production line, with good sales performance in major appliance companies[36]. - The company has a strong focus on R&D, with a dedicated team of industry experts and advanced digital design and manufacturing platforms[50]. - The company is focusing on the development of fully automated micro-channel equipment to meet the increasing market demand from the automotive industry[93]. Financial Management and Governance - The company has established a comprehensive internal control system to ensure compliance and safeguard shareholder rights, with no significant deficiencies reported during the reporting period[151]. - The company has implemented a management control mechanism for subsidiaries, ensuring compliance with relevant laws and regulations[152]. - The company has committed to measures to mitigate the dilution of immediate returns from the transaction[125]. Environmental and Social Responsibility - The company invested 1.65 million RMB in environmental protection during the reporting period[156]. - The company reduced carbon emissions by 1,249.28 tons through various carbon reduction measures[158]. - The company is actively promoting energy-saving and emission-reduction initiatives, including the use of renewable energy sources like solar power[158]. Shareholder Engagement and Returns - The company plans to distribute a cash dividend of RMB 2.90 per 10 shares, totaling RMB 126,982,833.60 (including tax) for the 2024 fiscal year[140]. - The cash dividend represents 77.15% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is RMB 164,601,866.49[144]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) is RMB 350,338,567.6, with an average annual net profit of RMB 155,519,455.05, resulting in a cash dividend ratio of 225.27%[146]. Risks and Challenges - The company faces risks related to the reliance on imported core components for high-end machine tools, which may impact overall performance and export capabilities[104]. - There is a risk of declining gross margins due to fluctuations in raw material prices and increasing labor costs, alongside a growing proportion of lower-margin products in sales revenue[104]. - The shortage of skilled technical workers poses a risk, as the company must maintain competitive compensation to retain talent[106]. Employee Management - The company reported a total of 801 employees, with 560 in production, 45 in sales, 95 in technical roles, and 13 in finance[136]. - The company has established a three-dimensional salary distribution system linking employee compensation to company performance, with management salaries based on performance metrics[138]. - The company is implementing a training plan aligned with its "talent-driven enterprise" strategy, focusing on developing professional and management talent[139].