DIBAY(SH:603320)2025-04-16 12:10Financial Performance - In 2024, the company's operating revenue reached ¥1,056,772,378.31, representing a year-on-year increase of 13.63% compared to ¥930,021,757.91 in 2023[22]. - The net profit attributable to shareholders was ¥66,630,994.67, a significant increase of 60.40% from ¥41,540,340.74 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥65,716,290.57, up 93.57% from ¥33,948,749.70 in 2023[22]. - The company's total assets at the end of 2024 amounted to ¥1,396,620,535.21, reflecting a 7.63% increase from ¥1,297,599,021.58 in 2023[22]. - The net assets attributable to shareholders increased to ¥925,862,482.37, a rise of 12.42% compared to ¥823,576,299.07 in the previous year[22]. - Basic earnings per share for 2024 were ¥0.51, representing a 59.38% increase from ¥0.32 in 2023[23]. - The weighted average return on equity rose to 8.10%, an increase of 2.67 percentage points from 5.43% in 2023[23]. - The net cash flow from operating activities was ¥108,085,935.11, a 67.17% increase from ¥64,655,693.26 in 2023[22]. Sales and Market Performance - The company sold 16.83 million units of various types of compressor motors, a year-on-year increase of 13.33%[33]. - The total sales scale of refrigerators and freezers in China reached 13.803 million units, with a year-on-year growth of 10.8%[33]. - The company benefited from government policies promoting the replacement of household appliances, which significantly boosted sales in the refrigerator and freezer sector[32]. - New customer sales reached 1 million units, significantly expanding the annual sales scale, particularly with a notable increase in overseas orders[35]. - The refrigerator industry saw a slight year-on-year growth of 3.1%, with exports exceeding 50 million units, marking a historical high, especially in emerging markets like South America, which saw a growth rate of over 45%[36]. - The central air conditioning market experienced a slight overall increase, with domestic sales amounting to CNY 121.5 billion, a year-on-year decrease of 3.8%, while export sales surged by 39.8% to CNY 23.2 billion[36]. Research and Development - The company invested CNY 46.8849 million in R&D expenses for the year, showing a slight increase compared to the previous year, and obtained 7 patent authorizations, including 5 invention patents[35]. - The company is focusing on the development of high-value, differentiated products, particularly in permanent magnet motors and heavy-duty commercial motors[79]. - The company emphasizes the importance of its R&D team in reducing product costs and enhancing performance, with potential risks from talent loss and technology leakage affecting operational performance[82]. - The company is committed to monitoring market and technology trends, increasing R&D investment, and expanding its research team to enhance competitiveness in the compressor industry[82]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, ensuring compliance with legal requirements and equal treatment of all shareholders[86]. - The board of directors consists of 7 members, including 3 independent directors, and has held 6 meetings, adhering to legal and regulatory requirements[87]. - The supervisory board, comprising 3 members, has conducted 4 meetings, ensuring compliance with financial oversight responsibilities[88]. - The company has disclosed 39 interim announcements and 4 periodic reports, maintaining transparency and compliance with information disclosure regulations[89]. - The company has implemented measures to ensure the independence of its operations from its controlling shareholder, maintaining a clear separation in personnel, assets, and business activities[88]. Financial Management - The company has established a cash dividend policy, ensuring that annual cash dividends will not be less than 20% of the distributable profits[110]. - The cumulative cash dividends over the last three fiscal years amounted to 4,428.53 million, representing a cash dividend payout ratio of 93.32% based on an average net profit of 4,745.64 million during the same period[116]. - The company has confirmed that there are no retired employees requiring expense coverage, indicating a streamlined workforce[106]. - The company has maintained compliance with environmental laws and has not faced any administrative penalties related to environmental issues[121]. Environmental and Social Responsibility - The company invested 7.43 million in environmental protection during the reporting period, and has established mechanisms for environmental protection[120]. - The company implemented carbon reduction measures that resulted in a decrease of 5,581 tons of CO2 equivalent emissions, including the introduction of a 1.5MW solar power facility[122]. - The solar power generation capacity reached 5.5MW, producing 4.72 million kWh in 2024, equivalent to saving 1,510 tons of standard coal[123]. - The company has committed to donating 100 million over five years to a charity fund, benefiting the local community[124]. Audit and Compliance - The internal control audit report for the fiscal year 2024 was issued with a standard unqualified opinion, confirming effective financial reporting internal controls[118]. - The audit opinion confirms that the financial statements fairly present the company's financial position as of December 31, 2024, in accordance with accounting standards[170]. - The audit identified accounts receivable impairment as a key audit matter due to significant management estimates involved[173]. - The company’s management has evaluated its ability to continue as a going concern, with no significant uncertainties reported[180]. Shareholder Information - The total number of ordinary shares increased from 130,025,724 to 133,875,970 due to the conversion of convertible bonds, resulting in an increase of 3,850,246 shares[142]. - The largest shareholder, Dibei Holdings Co., Ltd., holds 46.44% of the shares, totaling 62,176,109 shares[148]. - The second-largest shareholder, Wu Chuzheng, holds 16.02% of the shares, totaling 21,447,423 shares[148]. - The company has no preferred shareholders with restored voting rights as of the end of the reporting period[146].