HAGG(SH:601177)2025-04-16 08:40Financial Performance - The company reported a basic earnings per share (EPS) of 0.6020 yuan, an increase of 13.89% compared to 0.5286 yuan in 2023[22]. - The diluted EPS was 0.6011 yuan, reflecting a growth of 13.72% from the previous year[22]. - The basic EPS after deducting non-recurring gains and losses was 0.5182 yuan, an increase of 8.02% from 0.4797 yuan in 2023[22]. - The company's operating revenue for 2024 reached ¥2,300,848,636.37, representing a 22.22% increase compared to ¥1,882,559,196.50 in 2023[23]. - Net profit attributable to shareholders was ¥240,817,913.87, up 13.88% from ¥211,461,160.70 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥207,306,991.66, an increase of 8.02% from ¥191,910,373.34 in 2023[23]. - The company achieved operating revenue of 2,300.85 million yuan, a year-on-year increase of 22.22%[31]. - Net profit attributable to the parent company was 240.82 million yuan, up 13.88% year-on-year[31]. Cash Flow and Assets - The net cash flow from operating activities increased due to the digestion of previous inventory, with a decrease in procurement payments compared to the prior year[22]. - The net cash flow from operating activities improved significantly to ¥80,969,058.64, a 41.13% increase from ¥57,372,625.68 in 2023[23]. - The net cash flow from investment activities improved significantly, reaching ¥45,295,514.31, compared to a net outflow of ¥85,978,202.60 in the previous year[50]. - The company’s total share capital as of December 31, 2024, is 407,975,000 shares[6]. - As of the end of 2024, the net assets attributable to shareholders were ¥2,657,590,832.40, reflecting a 13.57% increase from ¥2,339,948,776.58 at the end of 2023[23]. - Total assets increased by 3.96% to ¥4,972,473,161.75 from ¥4,783,097,609.48 in 2023[23]. Research and Development - The company completed the development of 108 new products and 7 key components, with 46 new patents granted, including 13 invention patents[33]. - The company’s R&D efforts led to breakthroughs in electric and hybrid gearboxes for green and new energy vessels[31]. - The total R&D expenditure was 122.34 million RMB, constituting 5.32% of the operating revenue[69]. - Research and development expenses remained stable at ¥122,336,159.32, showing a slight decrease of 0.50% year-on-year[50]. Market and Industry Trends - The shipbuilding industry saw a significant increase in new orders, with new orders reaching 113.05 million deadweight tons, a year-on-year increase of 58.8%[37]. - The global shipbuilding market is expected to grow, with a projected increase in global shipping trade volume by 2.6% to 1.266 billion tons in 2024[36]. - The engineering machinery sector is expected to see a 25% increase in equipment investment by 2027 compared to 2023, bolstered by government bond issuance of 1.3 trillion yuan[96]. - The agricultural machinery export total reached 15.17 billion USD, with a year-on-year growth of 14.3%[42]. Environmental and Social Responsibility - The company has established a comprehensive environmental management system in place, compliant with the revised ISO14001 standards[164]. - The company has implemented measures to reduce carbon emissions, including the development of hybrid marine gearboxes and advocating for green commuting among employees[166]. - The company invested 3.7469 million yuan in environmental protection during the reporting period[156]. - The company has no reported administrative penalties related to environmental issues during the reporting period[157]. Governance and Shareholder Relations - The company has established a robust internal control system in compliance with regulations, ensuring effective risk management and decision-making[153]. - The company plans to hold its annual shareholders' meeting on May 15, 2024, with resolutions published on May 16, 2024[114]. - The company has implemented measures to maintain the independence of its operations, assets, and finances from its controlling shareholders[114]. - The company emphasizes enhancing internal control systems and risk management to safeguard shareholder interests and ensure operational integrity[112]. Future Outlook and Strategic Plans - The company anticipates a stable economic growth target of around 5% for China in 2025, despite external challenges[92]. - The company plans to enhance market development by promoting new ship propulsion systems, electric and intelligent products, and customized solutions[103]. - The company aims to enhance its digital marketing strategy, expecting a 15% increase in customer engagement through targeted campaigns[120]. - The company plans to accelerate R&D investment to develop high-end, electric, and intelligent products, leveraging its national technology center and research partnerships[104].