SMTC(SH:600822)2025-04-15 10:45Financial Performance - The company's operating revenue for 2024 was approximately ¥4.52 billion, a decrease of 42.59% compared to ¥7.87 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was approximately ¥50.54 million, down 63.90% from ¥140.01 million in 2023[22]. - The basic earnings per share for 2024 was ¥0.10, a decline of 64.29% compared to ¥0.28 in 2023[21]. - The net cash flow from operating activities for 2024 was approximately ¥227.93 million, a decrease of 22.86% from ¥295.49 million in 2023[22]. - The total assets at the end of 2024 were approximately ¥2.03 billion, a decrease of 35.10% from ¥3.13 billion at the end of 2023[22]. - The net profit after deducting non-recurring gains and losses for 2024 was approximately ¥8.20 million, a decrease of 80.50% from ¥42.06 million in 2023[22]. - The company's operating revenue for 2024 reached ¥18,990,825.70, an increase of 15.0% compared to ¥16,513,761.54 in 2023[170]. - The net profit for 2024 was ¥47,995,289.07, a decrease of 57.6% from ¥113,251,920.37 in 2023[170]. - The total comprehensive income for 2024 was ¥49,623,929.83, down from ¥111,940,458.14 in 2023, reflecting a decline of 55.7%[171]. Asset and Liability Management - The total long-term equity investment balance decreased by 3.74% to ¥55,680,203.39, with notable reductions in investments in several subsidiaries[56]. - The company's fixed assets at the end of the reporting period were valued at ¥121,943,436.47, a decrease of 34.63% from the previous period[53]. - Total liabilities decreased from CNY 1,938,826,769.85 in 2023 to CNY 804,421,288.31 in 2024, a reduction of about 58.5%[160]. - Total assets decreased from CNY 3,132,372,432.67 in 2023 to CNY 2,033,024,195.26 in 2024, a decline of approximately 35.1%[161]. - The company's equity attributable to shareholders increased from CNY 1,154,147,860.09 in 2023 to CNY 1,205,758,712.82 in 2024, an increase of approximately 4.5%[161]. Operational Strategy and Market Focus - The company focused on multi-chain automotive comprehensive service construction, including new car sales, used car trading, and after-sales service[30]. - The company enhanced cooperation with manufacturers to boost new car sales and increased the sales proportion of new energy vehicles[30]. - The used car trading market was improved with new services such as vehicle mortgage registration and deregistration[30]. - The company continued to advance comprehensive maintenance integration and improve after-sales service efficiency for new energy vehicles[30]. - The company aims to transform into a comprehensive service provider in the automotive and non-ferrous metals sectors, leveraging existing market platforms and resources[67]. Cost Management and Efficiency - The company aims to reduce costs and control losses by optimizing management and focusing on key cost areas, especially in its automotive business, which is facing significant challenges[32]. - The cost of purchased goods in the commercial sector decreased by 43.70% from the previous year, amounting to ¥4,219,812,123.20, which represents 99.76% of total costs[49]. - The cost of purchased goods in the automotive sector decreased by 50.79% year-on-year, totaling ¥3,412,311,827.50, accounting for 80.67% of total costs[49]. Governance and Compliance - The company has established a governance structure that complies with national laws and regulations, ensuring the independence of its operations from its controlling shareholder[75]. - The company has implemented measures to maintain the independence of its operations, including separating personnel, assets, and financial management from its controlling shareholder[76]. - The company has not reported any changes in shareholding for the board members during the reporting period[80]. - The company has not disclosed any new product developments or market expansion strategies during the reporting period[80]. Environmental and Social Responsibility - The company has not established an environmental protection mechanism and reported zero investment in environmental protection funds during the reporting period[108]. - The company does not belong to the list of key pollutant discharge units published by the Shanghai Environmental Protection Bureau for 2024[109]. - The company has not implemented any carbon reduction measures and reported zero reduction in carbon emissions during the reporting period[110]. - The company has published its 2024 ESG report on the Shanghai Stock Exchange website[112]. Audit and Financial Reporting - The financial statements have been audited and reflect the company's financial position as of December 31, 2024[149]. - The audit opinion confirms that the financial statements are prepared in accordance with accounting standards and fairly present the company's financial results[150]. - The auditors evaluate the appropriateness of accounting policies and the reasonableness of accounting estimates made by management[154]. - The company must disclose any significant uncertainties regarding its ability to continue as a going concern in the financial statements[155]. Shareholder Information - The company has a total of 49,031 ordinary shareholders as of the end of the reporting period, an increase from 43,883 in the previous month[136]. - The largest shareholder, Bailian Group, holds 238,575,962 shares, representing 48.10% of the total shares[138]. - The company has no significant changes in the top ten shareholders due to stock lending or other reasons[138]. - The company has not implemented any share repurchase during the reporting period[143].