FULING POWER(SH:600452)2025-04-17 12:55Financial Performance - The company's operating revenue for 2024 was CNY 3,116,619,342.36, a decrease of 9.46% compared to CNY 3,442,331,815.63 in 2023[18]. - The net profit attributable to shareholders for 2024 was CNY 514,456,181.79, down 2.07% from CNY 525,352,019.39 in 2023[18]. - The basic earnings per share for 2024 were CNY 0.33, a decrease of 2.94% from CNY 0.34 in 2023[19]. - The weighted average return on equity for 2024 was 9.60%, down 1.39 percentage points from 10.99% in 2023[19]. - The company achieved a total revenue of 3.116 billion RMB in 2024, a decrease of 9.46% compared to the previous year[32]. - The net profit for the year was 514 million RMB, with a basic earnings per share of 0.33 RMB[32]. - The operating cash flow increased by 40.83% to 1.590 billion RMB, attributed to better collection of receivables[34]. - The company reported a net profit margin decline due to reduced revenue and increased operational efficiency[182]. - The net profit for the year 2024 is CNY 514,456,181.79, a decrease of 2% compared to CNY 525,352,019.39 in 2023[183]. Cash Flow and Assets - The net cash flow from operating activities increased by 40.83% to CNY 1,590,002,087.22 in 2024, compared to CNY 1,128,987,759.07 in 2023[18]. - The total assets at the end of 2024 were CNY 6,505,938,191.52, a decrease of 2.20% from CNY 6,652,311,565.67 in 2023[18]. - The company's cash and cash equivalents increased to CNY 2,751,413,353.49 in 2024 from CNY 2,273,706,287.31 in 2023, representing a growth of 20.9%[179]. - Accounts receivable decreased significantly to CNY 539,860,520.36 in 2024 from CNY 856,464,073.23 in 2023, a decline of 37.0%[179]. - Total liabilities decreased to CNY 1,194,743,587.97 in 2024 from CNY 1,669,419,131.11 in 2023, a decline of 28.4%[180]. - The company's total equity increased to CNY 5,311,194,603.55 in 2024 from CNY 4,982,892,434.56 in 2023, an increase of 6.6%[180]. Operational Highlights - In 2024, the company achieved a total electricity sales volume of 34.64 billion kWh, generating operating revenue of 3.116 billion RMB and a total profit of 615 million RMB, with earnings per share of 0.33 RMB[25]. - The company completed 1,517 safety hazard rectifications throughout the year, enhancing the safety of the power grid operations[25]. - The company has made significant progress in energy-saving business models, with traditional projects in Xinjiang and Shanxi completed and operational[27]. - The company has successfully upgraded the distribution network in the Baihui area, benefiting 45,000 residents with reliable electricity supply[27]. - The company achieved a total electricity savings of 243,501.37 million kilowatt-hours through distribution network energy-saving initiatives[128]. Investment and R&D - Research and development expenses decreased by 93.31% to 96,248 RMB, indicating reduced investment in R&D projects[33]. - The total research and development investment was ¥9.62 million, primarily for developing an intelligent warning sign based on near electric induction[47]. - The company has established long-term partnerships with domestic and international firms to enhance its energy-saving technology and business models[31]. Governance and Compliance - The company has implemented a comprehensive information disclosure system to ensure transparency and timely communication with investors, utilizing multiple channels for information dissemination[87]. - The company has not experienced any significant differences in governance practices compared to the requirements set by the China Securities Regulatory Commission[88]. - The company is committed to maintaining normal operations despite the delay in board elections[93]. - The company has a strong management team with extensive experience in the power industry, ensuring effective governance and oversight[94]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[138]. Social Responsibility and Environmental Impact - The company has invested RMB 65.65 million in environmental protection during the reporting period[124]. - The company has achieved a reduction of 1,355,800 tons in carbon dioxide equivalent emissions through energy-saving measures and equipment upgrades[129]. - The total investment in social responsibility projects amounts to RMB 63.09 million, with no funds allocated for external donations[131]. - The company provided a total of 63.09 million yuan in electricity bill reductions for urban and rural low-income families, benefiting 125,856 individuals in 2024[132]. - The company plans to continue its efforts in rural electrification and safety improvements to enhance the reliability of power supply in rural areas[133]. Future Outlook - The company anticipates that national electricity demand will continue to grow rapidly, with an expected total electricity consumption of approximately 13 trillion kWh by 2030[72]. - The company plans to focus on enhancing operational efficiency and expanding its market presence in 2025, aiming to improve investment returns and manage operational risks effectively[76]. - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[182].