XGMA(SH:600815)2025-04-17 12:20Financial Performance - The company's operating revenue for 2024 was approximately ¥683.32 million, a decrease of 16.79% compared to ¥821.23 million in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥6.77 million, recovering from a loss of ¥218.18 million in 2023[21]. - The net cash flow from operating activities improved significantly to ¥108.00 million, an increase of 50.36% from ¥71.83 million in 2023[21]. - The total assets as of the end of 2024 were approximately ¥2.32 billion, down 2.85% from ¥2.39 billion in 2023[21]. - The company's net assets attributable to shareholders increased slightly to ¥1.52 billion, a 0.78% increase from ¥1.51 billion in 2023[21]. - Basic earnings per share for 2024 were ¥0.004, recovering from a loss of ¥0.12 per share in 2023[22]. - The weighted average return on equity improved to 0.45% in 2024, up 14.95 percentage points from -14.50% in 2023[22]. - The company did not distribute profits for 2024 due to accumulated undistributed profits being negative[6]. - The company reported a total of 69.81 million RMB in non-recurring gains for 2024, significantly impacting overall profitability[28]. Operational Developments - The company launched several new energy products, including a 5-ton battery-swappable electric loader and a methanol direct-drive loader prototype, while also advancing research on methanol and hydrogen fuel power products[33]. - Traditional energy products were streamlined, with successful mass production of 3-ton and 5-ton fuel loaders, and a 6-ton model delivered to customers[34]. - The company developed smart products, including a 5G remote-controlled loader, and made progress in autonomous loader technology[34]. - The international strategy led to a significant breakthrough, with 13 new overseas channels established and equipment exported to over 50 countries[35]. - The company completed its first bulk delivery of 6-ton loaders to Abu Dhabi and launched a 5-ton electric loader in Singapore[35]. - The company achieved significant results in overdue debt collection and inventory reduction, with notable success in managing stagnant inventory[38]. - The company plans to accelerate new business layouts, particularly in the steel structure sector, aiming to cultivate new profit growth points[37]. Market Performance - In 2024, excavator sales reached 201,131 units, a year-on-year increase of 3.13%, with domestic sales growing by 11.7%[42]. - The revenue from equipment leasing surged by 115.95%, driven by significant growth in tunnel excavation equipment rental[52]. - The overseas revenue declined by 33.61%, primarily due to intensified competition in the international market for construction machinery[52]. Research and Development - The company's R&D expenses were CNY 36.40 million, a decrease of 6.75% from the previous year[48]. - The company is focusing on developing green, intelligent, and differentiated products, including the rapid iteration of new energy models[43]. - The company has implemented various incentive plans to enhance the motivation of R&D, sales, and legal personnel[39]. Governance and Management - The company has conducted 4 shareholder meetings during the reporting period to ensure effective communication and protect the rights of all shareholders[90]. - The supervisory board consists of 3 supervisors, including 1 employee representative, and held 5 meetings during the reporting period[92]. - The company has established a complete internal control system, receiving a standard unqualified audit report from the accounting firm[94]. - The company disclosed significant information in accordance with laws and regulations, ensuring shareholders can access this information equally[93]. - The total remuneration for directors and senior management during the reporting period amounted to 311.67 million yuan[97]. Environmental Initiatives - Environmental protection investment for the reporting period amounted to CNY 6.152 million[135]. - Solid waste and hazardous waste disposal rate achieved 100% compliance[137]. - Air pollution control measures include a dust collection system and various treatment facilities for emissions[137]. - The company reduced carbon emissions by 3,287 tons during the reporting period through various measures, including the use of photovoltaic power generation at its production base[146]. - The photovoltaic power generation at the company's Jiaozuo production base amounted to 4.12 million kWh, contributing to the reduction of approximately 3,287 tons of CO2 emissions[146]. Strategic Outlook - The company anticipates that the engineering machinery industry will benefit from supportive national policies and technological innovations, leading to accelerated growth in 2024[73]. - The company aims to enhance operational efficiency and effectiveness by collaborating with other members of the parent group, focusing on resource optimization and synergy[75]. - The company plans to enhance its shield tunneling business manufacturing capabilities and explore new markets in water conservancy, mining, and sewage[77]. - The company intends to strengthen its overseas market presence, particularly in regions such as Africa and Europe, by establishing new distribution channels[79]. Financial Management - The company has a maximum daily deposit limit of RMB 1 billion with Xiamen Guomao Holdings Group Financial Co., Ltd., with a current balance of RMB 4,943,046,836.96[168]. - The company has a loan limit of RMB 400 million with Xiamen Guomao Holdings Group Financial Co., Ltd., with no current outstanding balance reported[170]. - The company has not proposed any profit distribution plan for the current year due to negative retained earnings[128].