江苏神通(002438) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥2,143,223,834.89, representing a 0.48% increase compared to ¥2,133,035,602.25 in 2023[6]. - Net profit attributable to shareholders for 2024 was ¥294,881,740.83, a 9.68% increase from ¥268,866,553.16 in 2023[6]. - The net cash flow from operating activities significantly increased by 114.70% to ¥397,801,144.44 in 2024, compared to ¥185,285,067.25 in 2023[6]. - The company's total assets at the end of 2024 were ¥6,081,865,717.78, reflecting a 4.04% increase from ¥5,845,909,153.64 at the end of 2023[6]. - The net assets attributable to shareholders increased by 7.20% to ¥3,513,514,355.60 at the end of 2024, up from ¥3,277,675,210.21 at the end of 2023[6]. - The company reported a total of ¥19,265,172.39 in non-recurring gains for 2024, down from ¥25,055,914.53 in 2023[24]. - Basic earnings per share for 2024 were ¥0.5810, a 9.68% increase from ¥0.5297 in 2023[6]. - The total revenue for 2024 reached ¥2,143,223,834.89, representing a slight increase of 0.48% compared to ¥2,133,035,602.25 in 2023[70]. Dividend Distribution - The company plans to distribute a cash dividend of 1.75 RMB per 10 shares to all shareholders, based on a total of 507,537,461 shares[4]. - The company plans to distribute a cash dividend of RMB 1.6 per 10 shares, totaling approximately RMB 81.21 million to shareholders[49]. Market Opportunities - The nuclear energy sector is expected to see a 10% share in China's power structure by 2035, with increasing demand for nuclear valve maintenance and services[28]. - The energy and petrochemical sector remains a significant market for the company, with substantial growth potential in oil and gas industries[29]. - The LNG market shows promising growth potential as natural gas is a key component of the national environmental strategy for emission reduction[30]. - By 2025, China aims to become the world's largest and most comprehensive energy and chemical industry system, presenting more opportunities for the valve industry[31]. - The company is focusing on expanding its market presence in nuclear power, hydrogen energy, and LNG sectors, with significant investments in specialized valves and key equipment[149]. Product Development and Innovation - The company has developed new products such as ultra-low temperature valves and hydrogen-specific valves, enhancing its competitiveness in the energy and petrochemical sectors[30]. - The company has successfully developed a new generation of C-type ball valves, significantly enhancing their resistance to wear and abrasion, addressing issues such as jamming and clogging during operation[52]. - The company has launched a new four-eccentric metal-sealed butterfly valve, which has received positive feedback from customers due to its improved sealing performance and reduced operating torque[53]. - The company has achieved batch supply of self-regulating micro-pressure control valves, which are now being used in gas turbine systems, marking a successful domestic replacement[54]. - The company has developed a specialized alloy steel material for seawater valves, achieving a market share of over 80% for large-diameter seawater butterfly valves[55]. - The company has made significant breakthroughs in hydrogen energy research, developing a full range of precision valves for hydrogen stations and related equipment, with batch applications already in place[56]. - The company is focusing on expanding its product offerings in the coal chemical industry, particularly with the development of wear-resistant V-type regulating valves[85]. - The company aims to enhance its competitive edge in the market by introducing innovative products such as the third-generation micro-torque ball valve, which is designed to lower production costs[86]. Research and Development - The company has a strong R&D team of over 200 professionals with extensive experience in valve design[67]. - Research and development investments have been focused on multiple projects, including the successful completion of the nuclear chemical instrument ball valve industrialization development, which aims to expand the market for small-diameter ball valves[85]. - R&D investment increased by 6.81% to ¥100,962,246.99, representing 4.71% of operating revenue, up from 4.43%[87]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[5]. Strategic Initiatives - The company is actively expanding its nuclear valve business and has received licenses for the design and manufacturing of nuclear-grade valves[44]. - The company is leveraging 5G IoT technology to enhance valve lifecycle services in the steel industry, improving operational efficiency[46]. - The company aims to enhance its production efficiency and core competitiveness through smart manufacturing and integration of information technology[49]. - The company is pursuing mergers and acquisitions in related industries to strengthen its technical capabilities and expand its business scale[8]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[157]. Risk Management - The company acknowledges various risks including technology and quality risks, industry policy risks, and market expansion risks, which may impact future performance[4]. - The company emphasizes that its future operational plans are forward-looking statements and are subject to market conditions and management efforts, indicating significant uncertainty[4]. - The company emphasizes long-term partnerships with clients through technical exchanges and collaborative research, ensuring high-quality service and product standards[42]. Investor Relations - The company engaged in multiple investor communications, including a phone call on March 14, 2024, discussing production operations and future strategic planning with institutions such as Anxin Fund and GF Securities[155]. - The company held multiple investor meetings from September 11 to November 12, 2024, to discuss operational performance and future strategies[158]. - The company is committed to transparency and has provided detailed insights into its operational performance during investor meetings held in March, April, and May 2024[155]. Governance and Compliance - The company has established a governance structure in compliance with relevant laws and regulations, enhancing operational standards and internal controls[162]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements[166]. - The company has implemented strict information disclosure practices, ensuring timely and accurate reporting through designated media outlets[169].