JCT(603657)2025-04-18 10:05Financial Performance - The company's operating revenue for 2024 reached ¥2,122,443,327.53, representing a 16.62% increase compared to ¥1,819,984,272.20 in 2023[25]. - The net profit attributable to shareholders of the listed company decreased by 42.73% to ¥14,314,553.06 in 2024 from ¥24,996,429.46 in 2023[25]. - The net cash flow from operating activities improved to ¥83,730,524.38 in 2024, a significant recovery from -¥89,971,558.02 in 2023[25]. - Basic earnings per share for 2024 were ¥0.10, down 44.44% from ¥0.18 in 2023[26]. - Total assets increased by 20.64% to ¥2,361,795,013.85 in 2024 from ¥1,957,797,877.97 in 2023[25]. - The weighted average return on equity decreased to 1.51% in 2024 from 2.43% in 2023, a decline of 0.92 percentage points[26]. - The company's operating costs increased by 19.17% to CNY 1,897,750,524.90, up from CNY 1,592,474,726.16 last year[55]. - The gross margin for the clean electrical appliances segment was 10.59%, reflecting a decrease of 1.91% compared to the previous year[59]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.35 CNY per 10 shares to all shareholders, excluding the repurchase account, based on the total share capital on the record date[7]. - The company has committed to maintaining the dividend distribution ratio even if the total share capital changes before the record date[7]. - The total cash dividend amount is approximately 4,704,840.88 RMB, which represents 32.87% of the net profit attributable to ordinary shareholders[132]. - The cumulative cash dividend and repurchase amount over the last three accounting years is 59,719,540.88 RMB, with an average annual net profit of 45,907,704.57 RMB, resulting in a cash dividend ratio of 130.09%[135]. - The company maintained its cash dividend policy, distributing a cash dividend of 0.10 yuan per share (including tax) based on the total share capital as of the dividend record date[128]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the financial report's authenticity and completeness[6]. - The board of directors has confirmed that all members can guarantee the authenticity and completeness of the annual report[11]. - The company has not violated decision-making procedures for external guarantees[10]. - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[141]. - The board of directors has approved the internal control evaluation report for 2024, which is available on the Shanghai Stock Exchange website[139]. Research and Development - Total R&D investment for the year was 67.78 million RMB, with 72 new patents granted, bringing the total to approximately 300 patents[38]. - Research and development expenses rose by 4.90% to CNY 67,783,777.75, compared to CNY 64,618,170.91 in the previous year[56]. - The company has a strong technical research and development team, which has accumulated rich experience in core technologies and production processes, enhancing its market competitiveness[49]. Market and Industry Insights - The clean appliance industry in China saw a sales revenue of 42.3 billion RMB, a year-on-year increase of 24.4%[42]. - The global demand for vacuum cleaners is driven by factors such as population growth, rising economic levels, and increased awareness of health and environmental quality, which will further boost sales of hoses and ODM/OEM products[48]. - The company is focusing on enhancing internal industry chain collaboration to improve market competitiveness amid a challenging economic environment[36]. Corporate Governance - The company held 1 annual general meeting and 5 extraordinary general meetings during the reporting period, ensuring compliance with relevant laws and regulations[100]. - The board of directors convened 10 meetings, adhering to voting procedures and protecting shareholder rights[101]. - The supervisory board held 6 meetings, maintaining compliance with legal and regulatory requirements[101]. - The company has established effective communication channels with investors, including a dedicated investor hotline and an interactive platform[102]. Environmental and Social Responsibility - The company invested 839,500 CNY in environmental protection during the reporting period[143]. - The company implemented carbon reduction measures, successfully reducing carbon dioxide equivalent emissions by 3,924 tons[144]. - Total donations for public welfare projects amounted to 785,000 CNY, including specific donations to various associations and charities[145]. - The company has established an environmental protection mechanism and is committed to reducing its carbon footprint[143][144]. Strategic Initiatives - The company has entered the vacuum cleaner assembly sector through acquisitions, expanding its main business scope and enhancing competitiveness[94]. - The company plans to expand its ODM/OEM market for vacuum cleaners and enhance the synergy between vacuum cleaner assembly and hose accessory businesses[93]. - The company will continue to develop its production base in Vietnam and expand its business in Malaysia to improve local supply chain systems and reduce procurement costs[93]. Share Repurchase and Stock Incentive Plans - The company approved a share repurchase plan during the board meeting on February 5, 2024[112]. - The company repurchased and canceled a total of 1,184,425 restricted shares due to performance targets not being met for the 2023 fiscal year[180]. - The company plans to continue its stock incentive plan, subject to performance conditions being met in the future[180]. - The company has a stock incentive plan with a total of 82,000 shares held by Fuwcai, which will be released in stages over the next 48 months[190].