Naruida(SH:688522)2025-04-18 10:50Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year, representing a 25% year-over-year growth[22]. - The company's operating revenue for 2024 reached ¥345,275,576.66, representing a 62.49% increase compared to ¥212,492,957.53 in 2023[23]. - Net profit attributable to shareholders for 2024 was ¥76,612,908.51, a 21.03% increase from ¥63,302,046.37 in 2023[23]. - The net profit after deducting non-recurring gains and losses increased by 37.94% to ¥85,687,371.54 in 2024 from ¥62,120,471.95 in 2023[23]. - Basic earnings per share rose to ¥0.35 in 2024, a 16.67% increase from ¥0.30 in 2023[25]. - The gross margin improved to 45%, up from 40% in the previous year, indicating better cost management and pricing strategies[22]. - The company has accumulated cash dividends of RMB 44,815,541.40 over the last three fiscal years, with an average cash dividend payout ratio of 64.06%[194]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares (including tax), totaling RMB 21,615,521.40, which accounts for 28.21% of the net profit attributable to shareholders for the fiscal year 2024[5]. - The total amount for cash dividends and share repurchases in 2024 is RMB 36,714,632.43, representing 47.92% of the net profit attributable to shareholders[6]. - The board has approved a dividend payout of 0.5 RMB per share, reflecting confidence in the company's financial health and future growth prospects[22]. - The company intends to increase its share capital by 86,462,086 shares, resulting in a total share capital of 302,995,606 shares after the capital reserve conversion[6]. - The total share capital after the proposed capital reserve transfer will increase to 302,995,606 shares, with a total of 86,462,086 shares to be transferred to shareholders at a rate of 4 shares for every 10 shares held[188]. Research and Development - The company is investing heavily in R&D, allocating 10% of its revenue to develop advanced radar technologies and improve product offerings[22]. - Research and development expenses for the company amounted to ¥78,478,485.10 in 2024, reflecting a growth of 37.24%[41]. - The proportion of total R&D expenses to operating revenue decreased by 4.18 percentage points, from 26.91% to 22.73%[93]. - The company has developed a dual-polarization active phased array radar technology, enhancing detection performance and reducing production costs through simplified manufacturing processes[101]. - The company has established a high-speed, large-data radar signal processing platform based on a fully FPGA structure, improving digital signal processing capabilities under high update rate conditions[102]. Market Expansion and Strategy - The company is expanding its market presence, targeting international markets with a goal to increase export sales by 40% in the upcoming year[22]. - A strategic acquisition of a smaller tech firm is planned, which is anticipated to add 200 million RMB in annual revenue[22]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[163]. - The company plans to launch its rain gauge radar business in 2024, with applications already in Beijing, Guangxi, Tianjin, Henan, Shandong, and Guangdong[106]. - The company is focusing on developing advanced radar technologies to enhance weather monitoring and disaster prevention capabilities[97]. Operational Efficiency - The company aims to enhance its supply chain efficiency, targeting a reduction in operational costs by 15% over the next two years[22]. - The company has reported a 10% reduction in operational costs due to efficiency improvements[163]. - The company has implemented advanced energy-saving equipment and refined production management to optimize production processes[199]. - The company has established a comprehensive training program to enhance employee skills and management capabilities, including various training activities throughout the year[183]. Corporate Governance and Compliance - The company has established a comprehensive internal control system to ensure compliance with laws and regulations, enhancing corporate governance and protecting shareholder rights[197]. - The internal control audit report for the fiscal year 2024 received a standard unqualified opinion, indicating no significant deficiencies in internal controls[198]. - The company emphasizes its commitment to ESG practices, aiming for sustainable development and value creation for stakeholders[198]. - The company has implemented a social responsibility policy that emphasizes legal compliance, green operations, and continuous improvement involving all employees[200]. Risks and Challenges - The company has detailed various operational risks in the report, urging investors to pay attention to investment risks[3]. - The company faces significant risks related to accounts receivable collection due to complex payment processes from government clients[111]. - The company is exposed to inventory impairment risks due to potential declines in product sales and prices amid market competition[111]. - The company faces risks related to the need for continuous innovation and R&D investment to maintain its technological advantages and core competitiveness[109]. Employee and Management Structure - The company has a total of 278 employees, with 136 in technical roles and 44 in sales[180]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to CNY 1,023.83 million[162]. - The company has maintained a consistent management team with no significant changes in shareholding among senior executives[161]. - The company has appointed new management personnel, including a vice president and a general manager for the application center in August 2023[165]. Product Development and Innovation - New product development includes the launch of a next-generation radar system, expected to enhance performance by 20% over previous models[22]. - The company has developed multiple models of dual-polarization active phased array weather radar, including AXPT0364, AXPT0464, HAXPT0164, and WDCPT0164, which enhance monitoring capabilities for severe weather events such as thunderstorms and tornadoes[50][51]. - The company’s radar technology integrates full polarization and active phased array technology, improving detection performance and enabling multi-functional applications on a single hardware platform[88]. Recognition and Awards - The company has achieved significant recognition, including the "Gold Award" at the 2023 World Radar Expo and the "First Prize" at the National Meteorological Radar Application Competition[71]. - The company was recognized as a "Clean Production Enterprise" by the Zhuhai Municipal Bureau of Industry and Information Technology in January 2024, reflecting its commitment to green manufacturing practices[199].