SNS(300470)2025-04-14 09:30Financial Performance - The company reported a 12% increase in overall sales revenue for the last fiscal year, reaching 1.2 billion RMB[11]. - The company's operating revenue for 2024 reached ¥1,566,523,728.31, representing a 14.40% increase compared to ¥1,369,359,792.29 in 2023[16]. - Net profit attributable to shareholders for 2024 was ¥392,454,377.70, up 13.21% from ¥346,675,535.93 in 2023[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥365,793,858.83, reflecting a 16.45% increase from ¥314,128,947.72 in 2023[16]. - The total assets at the end of 2024 amounted to ¥3,226,905,659.77, a 6.50% increase from ¥3,029,973,183.20 at the end of 2023[16]. - The company generated a net cash flow from operating activities of ¥322,342,976.73, which is a 3.03% increase compared to ¥312,863,501.09 in 2023[16]. - The basic earnings per share for 2024 was ¥1.9216, up 13.61% from ¥1.6914 in 2023[16]. - The company achieved operating revenue of ¥1,566,523,728.31, a year-on-year increase of 14.40%[37]. - Net profit attributable to shareholders reached ¥392,454,377.70, up 13.21% year-on-year[37]. - The net cash flow from operating activities was ¥322,342,976.73, reflecting a 3.03% increase compared to the previous year[37]. - The comprehensive gross profit margin for products was 48.34%, a decrease of 1.30% year-on-year[37]. - International business revenue reached ¥200 million, representing a growth of approximately 50% year-on-year[37]. - The company achieved a revenue of 193,093,913.41 CNY in the rubber and plastic sealing segment, with a net profit increase of 58.67% to 29,904,602.66 CNY[72]. - The overseas revenue surged by 217.95%, reaching ¥152,672,065.29, compared to ¥48,017,583.99 in the previous year[81]. - The mechanical seal industry accounted for 41.97% of total revenue, with a revenue of ¥657,539,250.50, up 17.68% from the previous year[81]. Market Expansion and Strategy - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[11]. - Market expansion efforts include entering the Southeast Asian market, targeting a 5% market share within the next two years[11]. - The company is focusing on expanding its market presence in the energy and industrial sectors, particularly in coal chemical projects domestically and international markets in the coming years[27]. - The company is actively expanding into emerging markets, increasing brand recognition in developing countries[28]. - The company plans to expand its market presence and invest in new product development in the upcoming fiscal year[176]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[151]. - Market expansion plans include entering three new countries by the end of 2024, targeting a 20% increase in international sales[152]. - The company completed a strategic acquisition of a smaller competitor for $300 million, expected to enhance market share[150]. Research and Development - The company is investing in R&D for new sealing technologies, aiming to enhance product performance and reduce leakage rates by 10%[11]. - The company has a robust R&D framework, including a national-level enterprise technology center and multiple engineering research centers[29]. - The company emphasizes continuous R&D investment and has developed a comprehensive high-end product line in the sealing industry[40]. - The company invested ¥75,772,013.14 in R&D, accounting for approximately 4.84% of operating revenue, with significant projects completed in key sealing technologies[64]. - The company is currently in the R&D phase for a 400mm diameter dry gas seal product, which aims to enhance competitiveness in large shaft diameter products[98]. - The company plans to enhance its high-end sealing products through the development of intelligent monitoring technologies, breaking foreign monopolies in the field[100]. - The company aims to maintain an annual R&D investment of approximately 5% to enhance its technological leadership in the industry[135]. Acquisitions and Partnerships - The company has completed the acquisition of a 70% stake in a German subsidiary, enhancing its international presence[11]. - The company completed the acquisition of KS GmbH through its German subsidiary ZM GmbH, enhancing its integration capabilities and market presence[60]. - The company completed the acquisition of a 52% stake in Sichuan Hongchuang Electronic Technology Co., enhancing its digital transformation capabilities[77]. - The company completed the acquisition of 70% of KS GmbH in July 2024, with plans to acquire the remaining 30% by February 2025[77]. - The company has established partnerships with major clients, including Sinopec, PetroChina, and CNOOC, enhancing its market presence[35]. Risk Management - The company identified key risks in supply chain disruptions and plans to mitigate these through diversified sourcing strategies[11]. - The company faces risks related to macroeconomic fluctuations, which could impact profitability and require timely market strategy adjustments[139]. - The company aims to mitigate risks of revenue and profit growth falling short of expectations by diversifying into high-margin markets and expanding into new sectors[140]. - The company is addressing the risk of delayed order deliveries by increasing production capacity and improving manufacturing efficiency through smart manufacturing initiatives[141]. - The company is closely monitoring international market conditions to establish a risk management mechanism for its overseas operations[146]. Corporate Governance - The company is committed to improving governance in accordance with relevant laws and regulations, ensuring compliance with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[159]. - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all investors, particularly minority shareholders[160]. - The board of directors consists of 9 members, including 3 independent directors, and held 6 meetings without any absences[161]. - The supervisory board has 3 members, including 1 employee supervisor, and also held 6 meetings with full attendance[163]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, with no shared resources or conflicts of interest[165]. - The company has a complete and independent organizational structure, including a board of directors and specialized committees[169]. - The company emphasizes transparency in information disclosure and investor relations, adhering to relevant regulations and ensuring timely communication with investors[164]. Employee and Management - The workforce with a college degree or above constitutes 72.20% of the total employees, indicating a strong talent pool[39]. - The company has established a new executive team with 7 members to better facilitate business development[77]. - The management team consists of professionals with significant experience in engineering and finance, ensuring robust operational and financial oversight[182]. - The company reported a total remuneration of 1.5 million yuan for its directors, supervisors, and senior management during the reporting period[190]. - The total compensation for the board members amounts to 891.73 million[191]. Future Outlook - The company expects to achieve operating revenue of 1,743.85 million yuan in 2025, an increase of 11.32% year-on-year[138]. - Operating costs are projected to be 873.81 million yuan, up 7.98% year-on-year[138]. - The net profit attributable to the parent company is forecasted to be 412.26 million yuan, reflecting a 5.05% year-on-year increase[138]. - The company anticipates a positive outlook for the next quarter, projecting an increase in revenue driven by new product launches[176].