FAWER(SZ:000030)2025-04-17 11:40Financial Performance - The company's operating revenue for 2024 reached ¥16,468,392,260.56, representing a 3.95% increase compared to ¥15,842,626,034.79 in 2023[17]. - Total profit for 2024 was ¥939,452,214.55, a significant increase of 30.89% from ¥717,762,508.30 in the previous year[17]. - Net profit attributable to shareholders was ¥676,188,915.08, up 11.93% from ¥604,140,594.64 in 2023[17]. - The net profit after deducting non-recurring gains and losses was ¥617,412,025.92, reflecting a 26.85% increase from ¥486,737,808.31 in 2023[17]. - Cash flow from operating activities surged to ¥469,872,166.96, a remarkable increase of 961.69% compared to ¥44,256,997.12 in the previous year[17]. - Basic earnings per share for 2024 were ¥0.39, an increase of 11.43% from ¥0.35 in 2023[17]. - Total assets at the end of 2024 amounted to ¥18,035,027,402.14, a 6.23% increase from ¥16,976,862,511.90 at the end of 2023[17]. - Net assets attributable to shareholders increased to ¥7,933,585,149.19, up 3.42% from ¥7,671,227,259.82 in 2023[17]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.5 per 10 shares, totaling approximately ¥257,971,000 based on the adjusted share capital[5]. - The total cash dividend amounts to ¥257,971,626.75, representing 38.15% of the net profit attributable to ordinary shareholders in the consolidated financial statements[160]. - The cash dividend distribution plan is based on a total share capital of 1,741,643,085 shares, excluding 21,832,240 shares held in the company's repurchase account[159]. Market and Sales Performance - In 2024, the total production and sales of automobiles in China reached 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[27]. - The sales of passenger vehicles in 2024 reached 27.48 million units, with a year-on-year increase of 5.2%[28]. - The market share of Chinese brand passenger vehicles increased to 65.2%, up 9.2 percentage points from the previous year[28]. - The production and sales of new energy vehicles surpassed 1 million units, with a year-on-year growth of 34.4% and 35.5% respectively[30]. - The company secured 307 new orders in 2024, with external market orders making up 48% and over 80% of these being in the new energy sector[42]. Research and Development - The company has established a comprehensive R&D system, with 10 provincial technology centers and 1 municipal technology center across China[48]. - In 2024, the company achieved breakthroughs in 62 core technologies and applied for 174 patents, including 86 invention patents[49]. - The company has a research and development team of 1,174 personnel, including over 500 in electric control development, focusing on key core technologies and product upgrades[54]. Operational Strategy - The company maintains a production model based on "sales-driven production," aligning production plans with customer orders[38]. - The company has established long-term stable relationships with suppliers, optimizing procurement costs and quality through a "sales-driven, production-based" purchasing model[39]. - The company is focusing on lightweight, electric, intelligent, and connected product development in line with the automotive "new four modernizations" trend[44]. Corporate Governance - The company emphasizes strict independence from its controlling shareholders in business, personnel, assets, institutions, and finance[123]. - The company has established a complete and independent financial control department and accounting system[123]. - The company adheres to legal regulations and maintains transparency in information disclosure to protect minority investors' rights[121]. - The company is committed to improving corporate governance and internal control systems continuously[122]. Environmental Responsibility - The company has established emergency response plans for environmental incidents, with drills conducted as required by local government[175]. - The company purchased 4.8 million kWh of green electricity in 2024 to reduce carbon emissions[175]. - The company successfully passed the national-level green factory certification in 2024 and purchased 3.5 million kWh of green wind power[176]. Management Changes - The company announced the retirement of several key executives, including 甘先国 (Guan Xianguo) and 赵玉林 (Zhao Yulin), due to reaching the legal retirement age[127]. - New appointments include 胡汉杰 (Hu Hanjie) as Chairman and 李冰 (Li Bing) as Chairman of the Supervisory Board, effective March 25, 2024, and May 27, 2024, respectively[128]. - The company is undergoing a significant management transition with multiple board members and executives leaving and new ones being appointed, which may impact future strategic directions[129]. Future Outlook - The company aims to establish itself as an international parts group focused on lightweight, electric, intelligent, and connected products by 2025[106]. - The company plans to enhance its revenue structure by expanding its market share in domestic NEV sectors and targeting major clients like BYD, Geely, and Chery[109]. - The company has outlined its future outlook and performance guidance in its communications with investors[116].