ELECSPN(002935)2025-04-11 10:50Financial Performance - The company's operating revenue for 2024 was ¥964,367,661, representing a decrease of 13.04% compared to ¥1,108,946,841 in 2023 [6]. - The net profit attributable to shareholders for 2024 was ¥64,197,264.8, down 26.37% from ¥87,186,400.7 in 2023 [6]. - The basic earnings per share for 2024 decreased to ¥0.1511, down 26.33% from ¥0.2461 in 2023 [6]. - Total assets at the end of 2024 reached ¥2,864,056,453, an increase of 11.50% from ¥2,568,568,651 in 2023 [6]. - The net assets attributable to shareholders increased by 2.10% to ¥1,585,646,746 at the end of 2024, compared to ¥1,552,963,900 in 2023 [6]. - The company reported a significant drop in sales volume, with 244,335 units sold in 2024, a decrease of 25.57% from 2023 [63]. - The company achieved a net profit of 64.20 million yuan, while the net cash flow from operating activities was 99.47 million yuan, resulting in a significant difference of -35.27 million yuan primarily due to an increase in operating payables [71]. - The company reported a total revenue of 7,871 million, with a net profit of 1,474 million, resulting in a profit margin of approximately 18.7% [120]. - The company reported a total revenue of 375.6 million, an increase from 350.5 million in the previous period, reflecting a growth of approximately 7.3% [154]. - The company reported actual sales of 2,574 million, reflecting a stable performance with a 0.64% increase compared to the previous period [184]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares to all shareholders, based on a total of 426,522,467 shares [5]. - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares (including tax) based on a total share capital of 426,522,467 shares, with no stock dividends or capital reserve transfers [145]. - The company has approved the 2023 annual profit distribution plan, reflecting its commitment to shareholder returns [140]. - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling 21,326,123.35 yuan, which represents 100% of the profit distribution amount [147]. Risk Management and Governance - The company emphasizes the importance of risk awareness regarding market, technology, and talent risks in its future development outlook [4]. - The company is focused on risk assessment and management, as indicated by the approval of a risk assessment report for its financial subsidiary [140]. - The company has complied with all governance regulations set forth by the China Securities Regulatory Commission, ensuring no significant discrepancies in governance practices [112]. - The company maintains an independent financial department and has established a separate financial accounting system, ensuring independent financial decision-making [114]. - The company has a complete and independent asset structure, with no instances of asset or fund occupation by the controlling shareholder [113]. Research and Development - The company has established a joint laboratory with the National Time Service Center of the Chinese Academy of Sciences to conduct cutting-edge research in atomic clock technology [51]. - The company completed several key R&D projects aimed at enhancing product competitiveness and technological leadership, including the development of a domestic rubidium atomic clock and a microwave broadband digital channel hardware platform [69]. - The company is investing 200 million yuan in R&D for innovative technologies over the next two years [126]. - The company has obtained 6 patent authorizations and 9 software copyright authorizations in 2024, demonstrating its commitment to innovation [58]. - The company has established a dedicated R&D team over the past decade, focusing on independent product development [115]. Market Position and Strategy - The company operates in the "Manufacturing - Computer, Communication and Other Electronic Equipment Manufacturing" industry, specifically in the time frequency and Beidou satellite application sectors [29]. - The company is positioned in a growing industry with limited cyclical fluctuations, although its revenue is subject to market demand and macroeconomic conditions [34]. - The company is actively promoting the industrialization of civilian products and engaging in the construction of the national PNT system and military informationization [93]. - The company plans to expand its market presence by improving its two-tier market management system and focusing on key customers in satellite internet and low-altitude economy sectors, aiming for breakthroughs in industries like communication and oil exploration [97]. - The company is focused on enhancing its electronic product pricing strategy to improve overall sales performance [184]. Corporate Social Responsibility and Sustainability - The company is committed to sustainable development and has focused on ESG principles in its operations [137]. - Tianao Electronics actively fulfills its social responsibilities, as detailed in its 2024 ESG report [163]. - The company does not belong to the key pollutant discharge units as per environmental protection department announcements [162]. - There were no major environmental issues reported during the period [162]. Shareholder Commitments and Compliance - The controlling shareholder, China Electronics Technology Group Corporation No. 10 Research Institute, commits to fulfilling all public promises made regarding the company's initial public offering and listing [168]. - The company will accept social supervision actively regarding the fulfillment of its public commitments [168]. - The company has committed to strict adherence to all public commitments made during its initial public offering and will actively accept social supervision [170]. - The company will legally repurchase any shares sold in violation of lock-up period commitments [169]. Internal Control and Audit - The internal control system has been optimized and improved, ensuring compliance with regulations and enhancing risk management [156]. - The company has established a comprehensive internal audit process to strengthen oversight and ensure the effectiveness of internal controls [156]. - The internal control audit report was disclosed in full on April 12, 2025, with a standard unqualified opinion [160]. - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the internal control audit report [160].