Hengsheng Energy(SH:605580)2025-04-14 11:55Financial Performance - In 2024, the company achieved total revenue of 814 million RMB and a net profit attributable to shareholders of 137 million RMB, representing a year-on-year increase of 0.58%[4]. - The main business revenue reached 807 million RMB, an increase of 3.08% compared to the previous year[4]. - The company's operating revenue for 2024 reached ¥814,165,072.97, representing a 3.21% increase compared to ¥788,835,427.78 in 2023[29]. - Net profit attributable to shareholders for 2024 was ¥136,594,984.22, a slight increase of 0.58% from ¥135,813,065.44 in 2023[29]. - The net profit after deducting non-recurring gains and losses decreased by 15.99% to ¥101,552,256.02 from ¥120,874,500.39 in 2023[29]. - The company's total assets increased by 5.55% to ¥1,444,164,983.63 at the end of 2024, up from ¥1,368,276,363.34 at the end of 2023[30]. - The net assets attributable to shareholders rose by 4.21% to ¥939,539,085.28 at the end of 2024, compared to ¥901,587,975.20 at the end of 2023[30]. - Basic earnings per share remained stable at ¥0.49 for both 2024 and 2023[31]. - The weighted average return on equity decreased to 14.97% in 2024 from 15.56% in 2023, a decline of 0.59 percentage points[31]. - The cash flow from operating activities for 2024 was ¥91,113,236.72, down 55.02% from ¥202,550,094.12 in 2023[29]. - The company reported non-recurring gains of ¥41,602,091.13 in 2024, compared to a loss of ¥21,723.32 in 2023[35]. Research and Development - The company made a significant technological breakthrough in the CVD diamond growth field, improving product yield to an industry-leading level[5]. - The company plans to increase investment in R&D to promote the industrialization of CVD diamond applications in semiconductor and optical device fields[5]. - Research and development expenses rose to ¥17,352,164.56, a 59.67% increase compared to the previous year, reflecting increased investment in R&D[73]. - The number of R&D personnel is 89, making up 28.25% of the total workforce[87]. Environmental Initiatives - The company has been recognized as an environmental benchmark project in Zhejiang Province, enhancing its competitive edge[7]. - The company will continue to strengthen its cogeneration advantages and explore new green energy scenarios to support the "dual carbon" goals[6]. - The company’s solid waste resource utilization efforts have led to significant reductions in consumption indicators, reaching industry-leading levels[42]. - The company has implemented ultra-low emissions technology, achieving a reduction of 50% in SO2, 65% in NOX, and 50% in particulate matter emissions[66]. - The company has achieved 100% compliance in the disposal of general solid waste and hazardous waste, with all pollution sources equipped with treatment facilities to ensure organized management and compliance with emission standards[171]. - The company’s wastewater treatment meets the GB8978-1996 standard, with third-party monitoring confirming compliance with national and local discharge standards[173]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been reviewed by experts and filed with local environmental authorities[180]. - The company has invested over CNY 100 million in various environmental protection facilities, enhancing its pollution control capabilities[185]. Market and Industry Trends - The penetration rate of cultivated diamonds in the domestic market is around 10%, with increasing consumption trends despite falling prices[53]. - The price of cultivated diamonds is approximately 20% of that of natural diamonds, making them more accessible to younger consumers[52]. - The global cultivated diamond market is forecasted to reach $18 billion by 2024, with the penetration rate in the U.S. increasing from 1.1% to 57% over the past seven years[109]. - The CVD method for producing synthetic diamonds offers advantages over traditional methods, enabling the production of large, low-defect diamonds suitable for various high-tech applications[108]. - The heat and power cogeneration industry is expected to grow significantly in 2024, driven by policy support, technological upgrades, and market demand, with a focus on energy efficiency and environmental benefits[106]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[125]. - The company prioritizes investor relations and stakeholder communication, enhancing transparency and protecting the rights of all stakeholders[131]. - The company has established information disclosure management systems to ensure the accuracy and completeness of information shared with shareholders[132]. - The company has not faced any penalties from securities regulatory authorities in the past three years[140]. - The company maintains independent operations and has not experienced interference from its controlling shareholders in decision-making processes[127]. Strategic Investments and Acquisitions - The company acquired a 66.67% stake in Huamao Technology for 100 million yuan to expand its presence in the superhard materials sector[93]. - The company plans to inject RMB 100,070,420.54 into its wholly-owned subsidiary Hengxin Power, raising its registered capital from RMB 192,929,579.46 to RMB 293,000,000.00[95]. - The company has completed its investment in Huamao Technology, which is expected to enhance its operational control and strategic direction in the technology sector[98]. Employee Management and Development - The company has implemented a labor contract system, with employee compensation consisting of basic salary, performance salary, overtime pay, seniority allowance, and attendance bonuses[151]. - The company has a training plan that emphasizes internal training through lectures, seminars, and skill demonstrations, while also incorporating external training opportunities[153]. - The company emphasizes talent development and aims to shorten recruitment cycles while enhancing employee welfare and engagement[118]. Dividend Policy - A cash dividend of 1 RMB per 10 shares was distributed to shareholders in August 2024, reaffirming the company's commitment to long-term shareholder returns[6]. - The company plans to distribute cash dividends of 2.50 RMB per 10 shares, totaling 70,000,000 RMB, which represents 51.25% of the net profit attributable to ordinary shareholders[158][161]. - The cash dividend policy stipulates that at least 40% of the distributable profit will be allocated as cash dividends annually, provided the company has positive retained earnings and no major capital expenditure plans[156].