康平科技(300907) - 2024 Q4 - 年度财报

Financial Performance - The company achieved a revenue of RMB 1.161 billion in 2024, representing a year-on-year increase of 24.19% compared to RMB 934.97 million in 2023[19]. - Net profit attributable to shareholders reached RMB 85.08 million, a significant increase of 71.45% from RMB 49.62 million in the previous year[19]. - The company's basic earnings per share rose to RMB 0.8862, up 71.45% from RMB 0.5169 in 2023[19]. - The total assets of the company increased by 14.02% to RMB 1.335 billion at the end of 2024, compared to RMB 1.171 billion at the end of 2023[19]. - The company reported a decrease in cash flow from operating activities by 7.76% to RMB 119.99 million compared to RMB 130.08 million in 2023[19]. - The gross profit margin improved due to increased revenue and a decrease in material procurement costs, contributing to the net profit growth[33]. Investment and Projects - The company successfully completed its investment project in Vietnam, achieving an annual production capacity of 3.2 million motors and 60,000 electric tools[35]. - The company has committed a total investment of 24,680.35 million yuan for the annual production of 12 million electric tools, home appliances, and automotive parts motors, with a current investment progress of 0%[78]. - The project for the annual production of 3.2 million motors and 60,000 electric tools has an adjusted total investment of 11,628.22 million yuan, with a cumulative investment of 5,665.42 million yuan, achieving 48.72% of the investment progress[78]. - The annual production project of 10 million electric tools, home appliances, and automotive parts motors has an adjusted total investment of 13,052.35 million yuan, with a cumulative investment of 4,273.91 million yuan, achieving 32.74% of the investment progress[78]. - The company has terminated the project for the annual production of 12 million electric tools, home appliances, and automotive parts motors, reallocating the raised funds to the project for the annual production of 10 million electric tools, home appliances, and automotive parts motors[79]. Research and Development - Research and development investment exceeded RMB 40 million, reflecting the company's commitment to innovation and future growth[35]. - The company has completed several R&D projects, including the development of a new platform for brushless motors and a low-vibration motor, which are expected to enhance market competitiveness[54][55]. - R&D investment in 2024 was ¥40,294,300.75, accounting for 3.47% of operating revenue, a slight decrease from 3.56% in 2023[56]. Customer and Market Dynamics - The sales of electric tools accounted for nearly 40% of the company's total sales during the reporting period, indicating a strategic shift towards electric tool manufacturing[35]. - The electric tools segment generated ¥1,127,945,216.7, accounting for 97.14% of total revenue, with a year-on-year growth of 21.76%[45]. - The electric bicycle segment saw a remarkable increase of 2376.66%, with revenue rising to ¥10,909,287.07 from ¥440,483.08[45]. - The company has a stable customer base, with major clients like Bosch and TTI, which collectively hold over 50% of the market share in the electric tools industry[40]. Financial Management and Governance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the chairman and accounting heads[3]. - The company has established an independent financial department with a standardized financial management system, ensuring independent financial decision-making[103]. - The company has not reported any changes in the positions of directors, supervisors, or senior management during the reporting period[107]. - The company has a total of 10 individuals in the board and management team who received remuneration during the reporting period[116]. Risk Management - The company has outlined potential risks in its future development outlook, emphasizing the need for investors to be aware of investment risks[3]. - The company effectively mitigated foreign exchange market risks, reducing exchange losses and enhancing financial stability[73]. - The company emphasizes the management of accounts receivable to minimize the risk of delayed delivery in foreign exchange forward contracts[73]. Shareholder Relations - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[4]. - The company has established a clear profit distribution policy in accordance with relevant regulations, ensuring shareholder rights are protected[132]. - The independent directors fulfilled their responsibilities in the profit distribution decision-making process, ensuring transparency and compliance[134]. Employee Management - The total number of employees at the end of the reporting period is 1,587, with 303 in the parent company and 1,284 in major subsidiaries[127]. - Employee compensation consists of fixed salaries linked to position and skills, and variable compensation based on performance[129]. - The company emphasizes talent development and plans to implement targeted training programs for different roles and levels[130]. Compliance and Internal Control - The internal control system has been continuously improved, ensuring effective risk management and compliance with regulatory requirements[137]. - The internal control evaluation report indicated that 100% of the company's assets and revenue were included in the evaluation scope[138]. - The company has not faced any objections from directors regarding company matters during the reporting period[120].