SMEG(SH:600689)2025-04-15 08:50Financial Performance - The company's operating revenue for 2024 reached RMB 1,202,873,547.37, representing a year-on-year increase of 9.97% compared to RMB 1,093,820,090.55 in 2023[20]. - The net profit attributable to shareholders of the listed company was RMB 18,450,302.69, up 4.84% from RMB 17,598,818.31 in the previous year[20]. - The net profit after deducting non-recurring gains and losses increased by 54.23% to RMB 12,000,305.48 from RMB 7,780,926.92 in 2023[20]. - The company's total assets as of the end of 2024 amounted to RMB 908,646,170.78, a 13.62% increase from RMB 799,728,638.42 at the end of 2023[20]. - The net assets attributable to shareholders of the listed company increased by 4.16% to RMB 461,633,882.27 from RMB 443,183,579.58 in 2023[20]. - The basic earnings per share remained stable at RMB 0.09, unchanged from the previous year[21]. - The weighted average return on net assets increased slightly to 4.08%, up from 4.05% in 2023[21]. - The company recorded a total revenue of 1.23 billion RMB across all segments in 2024, with a net profit of 11.44 million RMB, reflecting overall growth despite sector-specific challenges[32]. Cash Flow and Investments - The cash flow from operating activities showed a significant decline, with a net outflow of RMB 52,735,965.01 compared to a net inflow of RMB 54,211,460.17 in 2023, marking a decrease of 197.28%[20]. - The company reported a net cash flow from operating activities of -30.56 million RMB in Q1, followed by positive cash flows in subsequent quarters, indicating improved operational efficiency[27]. - The net cash flow from investing activities improved to -68,580,391.21 RMB in 2024, a reduction in losses from -136,969,289.87 RMB in 2023[175]. - Cash inflow from investing activities totaled 652,176,454.08 RMB in 2024, slightly down from 699,811,636.78 RMB in 2023, representing a decrease of about 6.8%[175]. - The company has a total of RMB 93.26 million in wealth management products with various banks, with expected annualized returns ranging from 1.32% to 2.80%[130]. Segment Performance - In 2024, the company achieved a revenue of 852 million RMB in import and export trade, representing a 12.71% increase year-on-year, with a net profit of 1.15 million RMB, up 19.79% from the previous year[29]. - The security service segment generated a revenue of 322 million RMB, a 2.93% increase, but net profit decreased by approximately 29.53% to 4.75 million RMB due to budget cuts from clients[30]. - The property leasing segment reported a revenue of 30.77 million RMB, a 14.51% increase, with net profit rising 56.55% to 14.70 million RMB, indicating strong performance amidst market challenges[30]. Corporate Governance - The company has established a comprehensive financial management system, enhancing the integration of finance and operations[34]. - The board will continue to play a strategic role in governance, focusing on risk management and decision-making[62]. - The company has established an internal control system in accordance with relevant regulations, and an internal control evaluation report was formed, with an audit opinion from an accounting firm on the effectiveness of financial report internal controls[76]. - The company has held 2 shareholder meetings and approved 11 resolutions to ensure transparency and protect minority shareholders' rights[72]. - The board of directors consists of 7 members, with independent directors making up over one-third, ensuring compliance with governance regulations[72]. Risk Management - The company plans to enhance its risk control mechanisms, including improving internal control systems and audit processes, to establish a comprehensive risk prevention framework[67]. - The company anticipates facing macroeconomic risks in 2025 due to increased geopolitical tensions and protectionism, which may impact its import and export operations[68]. - The company has initiated forward contract hedging to mitigate foreign exchange risks, as its main import and export transactions are conducted in foreign currencies[68]. Social Responsibility and ESG - The company is committed to environmental responsibility, including compliance with various environmental protection laws and regulations[112]. - The company has actively implemented measures to reduce carbon emissions, including the installation of a smart energy monitoring system[113]. - Total social responsibility investment amounted to RMB 51,800, including RMB 50,000 for educational assistance to support children from impoverished families[115]. - The company signed an agreement to donate RMB 50,000 to support education in Wafang Village, aimed at purchasing learning supplies and covering tuition fees[115]. Employee and Management - The company has established a training plan to enhance employee skills and knowledge in line with business development needs[100]. - The total pre-tax compensation for key executives amounted to 3.4967 million yuan[81]. - The company has maintained stable leadership with no significant changes in executive roles during the reporting period[83]. Shareholder Information - The total number of ordinary shareholders increased to 24,269 by the end of the reporting period, up from 22,657 in the previous month[138]. - The top ten shareholders hold a total of 52,158,943 shares, representing 25.95% of the total shares outstanding[139]. - The largest shareholder, Chongqing Light Textile Holdings Group Co., Ltd., has not changed its holdings during the reporting period[139].