ZD Leader(SZ:002896)2025-04-17 12:20Financial Performance - The company's operating revenue for 2024 was ¥976,342,989.09, a decrease of 10.10% compared to ¥1,085,984,622.01 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥72,550,353.38, down 0.82% from ¥73,147,951.97 in 2023[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 3.26% to ¥58,291,727.90 in 2024 from ¥56,450,066.52 in 2023[6]. - The net cash flow from operating activities rose by 18.12% to ¥208,959,218.87 in 2024, compared to ¥176,909,793.93 in 2023[6]. - The total assets at the end of 2024 were ¥1,638,539,883.13, reflecting a 1.07% increase from ¥1,621,249,851.61 at the end of 2023[6]. - The net assets attributable to shareholders increased by 5.56% to ¥1,174,199,831.48 at the end of 2024, compared to ¥1,112,402,744.18 at the end of 2023[6]. - The company's basic and diluted earnings per share remained stable at ¥0.48 in 2024, unchanged from 2023[6]. - The weighted average return on equity decreased to 6.35% in 2024 from 6.77% in 2023[6]. Dividend and Capital Management - The company plans to distribute a cash dividend of 2.6 RMB per 10 shares to all shareholders based on a total share capital of 151,171,285 shares as of December 31, 2024[4]. - The company will increase its capital reserve by converting 3 shares for every 10 shares held by shareholders[4]. - The total distributable profit for the period was 433,981,726.73 yuan, with cash dividends accounting for 100% of the profit distribution[165]. - The company has established a three-year dividend return plan to respect and protect shareholder interests[163]. Market and Product Development - The company is focused on expanding its market presence and developing new products and technologies[4]. - The company has established a strong market position in small and micro gear motors, with significant breakthroughs in precision reducers, contributing to its competitive edge[41]. - The company has launched a series of integrated products, including "precision planetary reducer + servo motor + driver" modules, to align with industry trends towards integration and innovation[42]. - The market for precision reducers is expanding steadily, driven by domestic economic development and industrial upgrades, with increasing competition and market concentration[39]. - The company has completed the development of a new series of small permanent magnet synchronous gear motors with power ranges from 100 to 1500W, aiming for mass production and market introduction[71]. - The company is working on a high reduction ratio quasi-hypoid gear project, which has completed the evaluation of the first batch of samples and is entering the small batch trial production phase[71]. - The company is developing a high-speed, high-rigidity, and long-life reducer to meet the needs of heavy-duty AGV automated warehouse vehicles, enhancing its core competitiveness in this field[71]. Research and Development - The company emphasizes independent research and development, focusing on core components in the field of power transmission and motion control[52]. - The company has imported advanced precision processing and testing equipment from Japan, Germany, and the USA to enhance manufacturing capabilities[53]. - Research and development (R&D) investment amounted to CNY 63,849,545.74, a decrease of 8.79% from CNY 70,001,981.14 in the previous year, while the R&D investment as a percentage of operating revenue increased slightly to 6.54%[78]. - The number of R&D personnel increased by 24.34% to 281 in 2024, with the proportion of R&D staff rising to 14.14%[78]. Risk Management - The management has outlined potential risks in the future business operations, which investors are advised to review[4]. - The company faces risks from price fluctuations of its main products, including precision reducers and servo motors, due to competition and market conditions[110]. - The demand for reducers and servo motors is closely tied to the economic climate, and a downturn in downstream industries could negatively impact the company's performance[111]. - The company is at risk of product iteration challenges, as advancements in technology and market demands require timely and effective R&D efforts to maintain competitive advantages[111]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting and compliance with regulatory requirements[4]. - The company has established a complete and independent business system, ensuring no reliance on shareholders or related parties for core technologies[133]. - The company maintains a fully independent financial department, with no interference from the controlling shareholder in financial decisions[131]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with legal requirements[122]. - The company has implemented a "Quality Return Dual Improvement" action plan, although details on its execution were not disclosed[120]. - The company emphasizes transparency in information disclosure, adhering to legal requirements and ensuring timely updates[126]. Employee and Social Responsibility - Employee welfare is prioritized through training programs, competitive compensation, and various employee engagement activities[179]. - The company actively participates in social responsibility initiatives, including volunteer services and support for local communities[179]. - The employee training program combines internal and external training to enhance professional skills and overall quality[162]. - The company has a human resources development plan focused on attracting and retaining core technical personnel through improved welfare and training opportunities[106]. Future Outlook - The company aims to expand into new application areas while navigating economic pressures and market challenges in 2024[57]. - The company is exploring potential acquisitions to enhance its product offerings, with a budget of $100 million allocated for this purpose[117]. - The company plans to complete the construction of the Thailand manufacturing project by the end of 2025, enhancing its production capacity[104]. - The company aims to achieve a 5% reduction in operational costs through efficiency improvements by the end of 2024[116].