Deli Co.,Ltd.(002571)2025-04-17 10:40Financial Performance - The company reported a total revenue of 3,919,507,000 CNY for the year, with no cash dividends or stock bonuses distributed to shareholders[5]. - The company's operating revenue for 2024 reached ¥1,858,428,602.14, representing a 39.86% increase compared to ¥1,328,745,937.66 in 2023[20]. - The net profit attributable to shareholders was a loss of ¥173,168,462.52, which is a 102.51% increase in losses from ¥85,509,382.80 in the previous year[20]. - The cash flow from operating activities showed a net amount of ¥124,342,717.28, down 10.12% from ¥138,338,210.15 in 2023[20]. - The basic earnings per share decreased to -¥0.4418, a decline of 102.47% from -¥0.2182 in 2023[20]. - Total assets increased by 10.47% to ¥3,394,954,941.50 at the end of 2024, compared to ¥3,073,219,155.62 at the end of 2023[20]. - The net assets attributable to shareholders decreased by 12.88% to ¥1,070,750,590.88 at the end of 2024, down from ¥1,228,987,427.79 in 2023[20]. - The company reported a quarterly operating revenue of ¥523,673,770.07 in Q4 2024, with a significant loss of ¥140,407,768.03 attributable to shareholders[26]. - The company experienced a negative cash flow in Q1 and Q3, with net cash flows of -¥13,514,646.74 and -¥5,069,645.24 respectively[26]. - The company reported a debt restructuring loss of -834,127.43[29]. - The total impact of income tax was -2,052,308.09, reflecting a change from the previous year[29]. - The total non-recurring losses amounted to -52,797,267.02, indicating a substantial financial impact[29]. Market and Operational Challenges - The company faces risks from a global consumption market downturn, which may impact its consumer goods products[4]. - The company has a significant overseas export capacity, making it vulnerable to risks associated with global trade decoupling[4]. - There is a potential funding gap risk due to large capital investments in technology upgrades and projects in Egypt, which may lead to financial shortages[4]. - The photovoltaic glass project is expected to face challenges due to the overall industry cycle downturn, with uncertainties regarding recovery from losses[4]. - The management emphasizes the importance of timely funding to support ongoing projects and avoid operational disruptions[4]. - The company is monitoring geopolitical and economic conflicts that could further impact its international operations[4]. Revenue and Sales Growth - The company achieved a sales revenue of 1.835 billion RMB, representing a year-on-year growth of 40.73% compared to 2023[34]. - The photovoltaic glass segment generated a sales revenue of 265 million RMB, while the daily glass segment achieved 1.571 billion RMB in sales, with the Pakistan subsidiary contributing 160 million RMB[34]. - The company's foreign trade export revenue exceeded 500 million RMB for the first time, marking a historical high with a significant year-on-year growth[34]. - The daily glass production output increased by 44% compared to 2023, although it did not meet the annual budget target[36]. - The company’s international trade shipments and collections exceeded 120% of the annual target, with total shipment value growing over 40% year-on-year[36]. Research and Development - The company is applying for a utility model patent for a glass product processing molding machine, which aims to improve efficiency and competitiveness[72]. - The glass melting device project is underway, focusing on enhancing the core equipment used in glass manufacturing[73]. - The company is developing a glass cup processing transfer device to improve production efficiency and reduce labor intensity[73]. - The company's R&D personnel decreased from 69 to 54, a reduction of 21.74%[75]. - R&D investment amounted to ¥13,783,054.75, down 20.26% from ¥17,284,701.69 in the previous year[75]. - The proportion of R&D investment to operating revenue fell from 1.30% to 0.74%[75]. Governance and Management - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring accountability for the information presented[4]. - The company has established a comprehensive performance evaluation system for senior management, linking annual salary to the completion of annual operational targets[135]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[133]. - The company maintains independence from its controlling shareholder in terms of assets, business, personnel, and finance[139]. - The company has a dedicated investor relations management system to enhance communication with investors[136]. - The company has established rules for the board of supervisors to effectively supervise the financial activities and compliance of the management[134]. Future Outlook and Strategic Plans - The company plans to enhance production capacity through technological upgrades in the future[56]. - The company aims to enhance its product line with new home and cleaning products, leveraging existing market trends[109]. - The company plans to expand its market presence through strategic acquisitions, with a focus on high-tech product investments[110]. - The company aims for a sales revenue growth of no less than 20% in 2025 compared to 2024[119]. - The company plans to reduce the cost of glass per ton compared to 2024, with various degrees of decline expected[120]. - The company intends to compress finished goods inventory by no less than 140 million yuan in 2025[120]. - The company aims to improve the turnover rate of finished goods and other inventory materials as a key assessment point in 2025[121]. - The company aims to expand its overseas market share by implementing a strategy of "external supply for external demand" and "external support for external operations" by 2025[196]. Employee Management and Development - The total number of employees at the end of the reporting period is 3,455, with 1,549 in the parent company and 1,906 in major subsidiaries[169]. - The company has established a comprehensive employee management system covering recruitment, training, assessment, rewards, and promotions to attract and retain talent[171]. - The company encourages employees to pursue external training opportunities, including EMBA and MBA programs, to enhance their strategic thinking and management skills[175]. - Internal training is the core of the company's talent development, utilizing various methods such as lectures, practical training, and online platforms[174]. - The company has implemented a performance-based salary system for senior management, linking bonuses to annual performance results[172]. Risk Management - The company’s management emphasizes a risk management approach that ensures overall risk remains within acceptable limits[194]. - The company aims to maintain its core competitive advantages and expand international trade channels, despite facing challenges from global trade protectionism and market downturns[195]. - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring effective governance and management[183].