VEKEN TECHNOLOGY(SH:600152)2025-04-14 14:05Financial Performance - The net profit attributable to the parent company for 2024 is -28,701,119.53 CNY, while the consolidated undistributed profit stands at -411,923,790.79 CNY[6]. - The net profit achieved by the parent company is 86,923,816.80 CNY, with undistributed profits amounting to 339,517,890.95 CNY[6]. - The board of directors proposed no profit distribution for 2024 due to the company's financial condition not meeting cash dividend criteria[6]. - The company's operating revenue for 2024 was CNY 1,527,729,387.08, a decrease of 8.64% compared to CNY 1,672,169,340.72 in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of CNY 28,701,119.53, improving from a loss of CNY 120,300,989.08 in 2023[22]. - The cash flow from operating activities for 2024 was CNY 25,132,874.46, a significant decrease of 93.03% compared to CNY 360,396,489.79 in 2023[22]. - The total assets at the end of 2024 were CNY 2,919,437,116.91, down 9.88% from CNY 3,239,322,071.77 at the end of 2023[22]. - The basic earnings per share for 2024 was -CNY 0.05, an improvement from -CNY 0.23 in 2023[23]. - The weighted average return on equity for 2024 was -1.61%, an increase of 4.96 percentage points from -6.57% in 2023[23]. - The company reported non-recurring gains of CNY 60,307,074.13 in 2024, compared to CNY 35,382,322.70 in 2023[26]. Risk Management - The company has faced significant risks, which are detailed in the management discussion and analysis section of the report[8]. - The report includes a forward-looking statement risk declaration, advising investors to be cautious of investment risks[7]. - The company is enhancing internal control and risk prevention measures, including financial management and auditing[38]. - The company is facing risks related to the implementation of fundraising projects, which may be affected by macroeconomic changes and market conditions[98]. - The company is exposed to risks from economic fluctuations that could negatively impact the battery industry and its demand[99]. - The company acknowledges the risk of intensified competition in the lithium battery market, which may lead to declining profit margins[100]. - The company is focused on addressing the risk of product structure being relatively singular, as it primarily serves traditional consumer electronics markets[101]. Corporate Governance - All board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company is committed to ensuring the authenticity, accuracy, and completeness of the financial report[6]. - The company has established a dedicated investor relations management department to ensure timely communication with shareholders and investors[107]. - The board of supervisors consists of 3 shareholder supervisors and 2 employee supervisors, ensuring compliance with relevant laws and regulations[107]. - The company has maintained its governance structure in compliance with the Company Law and Securities Law, promoting sustainable and healthy development[107]. - The company has not reported any significant differences in governance practices compared to regulatory requirements[108]. - The company has implemented strict information disclosure management in accordance with the Securities Law and relevant regulations[107]. Research and Development - The company has developed a 230AH sodium-ion battery cell, achieving the highest capacity in the industry[36]. - The company is focusing on new customer development in the 3C polymer business, targeting high-end markets and expanding overseas[34]. - Continuous investment in R&D and technological innovation is prioritized to meet customer demands and improve product competitiveness[89]. - Research and development expenses increased by 42.75% to 124.64 million RMB due to a rise in personnel costs and direct investment[50]. - The number of R&D personnel is 526, making up 23.07% of the total workforce[64]. Market Position and Strategy - The company successfully participated in the first publicly tendered 100 MWh sodium-ion energy storage application project in China, leading the industry in market share[33]. - The company ranked first in both the "2024 China Sodium Battery Shipment Volume TOP20" and "2024 China Energy Storage Sodium Battery Shipment Volume TOP5" lists[41]. - The sodium-ion battery market is expected to continue growing due to increasing demand for renewable energy and energy storage solutions[39]. - The energy storage business is expected to maintain strong growth, with a focus on sodium-ion battery products and expanding into valuable application scenarios, particularly in North America and Europe[94]. - The small power business plans to rapidly scale up production of sodium-ion batteries for motorcycle starting power applications, targeting key industry players for collaboration[95]. - The company aims to complete over 20 demonstration projects for ultra-fast charging stations by 2025, leveraging its sodium battery advantages in specific market applications[97]. Financial Management - The company plans to invest up to ¥1 billion in financial products using idle raised funds, with a focus on high safety and liquidity[76]. - The company is focusing on low-risk financial products, with a total of 5,000 million planned for investment by 2025/2[174]. - The company has a projected return of 2.25% for a financial product with an investment of 5,000 million by 2024/1[173]. - The total amount of raised funds is 70,000,000 CNY, with a net amount of 68,975,080 CNY, and a cumulative investment of 64,228,640 CNY by the end of the reporting period, representing a utilization rate of 93.12%[176]. - The company has entrusted cash asset management with a total of 42,000,000 RMB in bank wealth management products from idle raised funds[169]. Employee Management - The total number of employees in the parent company is 89, while the main subsidiaries employ 2,191, resulting in a total of 2,280 employees[131]. - The company has a competitive salary and benefits policy to attract top talent, ensuring alignment with industry standards[132]. - The training program focuses on practical effectiveness, combining internal and external training to enhance employee skills and knowledge[134]. - The company has a structured performance assessment process for its management team to ensure accountability[118]. Shareholder Structure - The largest shareholder, Weike Holdings Group, holds 152,778,214 shares, representing 28.88% of the total shares[190]. - The second-largest shareholder, Ningbo Industrial Investment, holds 35,685,450 shares, accounting for 6.74% of the total shares[190]. - The total number of shares held by the top ten shareholders is significant, with various shareholders having different levels of pledged or frozen shares[190]. - The company has seen a reduction of 2,977,269 shares in the category of other shareholders, bringing the total to 192,555,767 shares, which is 36.39% of the total[184]. - The shareholder structure indicates a mix of state-owned and private investors, with a notable presence of foreign and domestic natural persons[190].