博迁新材(605376) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached RMB 945,310,495.90, representing a 37.22% increase compared to RMB 688,907,455.43 in 2023[23]. - The net profit attributable to shareholders for 2024 was RMB 87,475,904.70, a significant turnaround from a loss of RMB 32,311,146.15 in 2023, marking a 370.73% increase[23]. - The net profit after deducting non-recurring gains and losses was RMB 73,102,675.48, up 285.96% from a loss of RMB 39,311,708.22 in the previous year[23]. - Cash flow from operating activities for 2024 was RMB 295,093,125.63, an increase of 64.20% compared to RMB 179,720,998.99 in 2023[23]. - The company achieved a sales revenue of CNY 945,310,495.90 in 2024, representing a year-on-year growth of 37.22%[36]. - Basic earnings per share (EPS) improved to CNY 0.33, up 375.00% from a loss of CNY 0.12 in 2023[24]. - The weighted average return on equity (ROE) increased to 5.51%, up 7.49 percentage points from -1.98% in 2023[24]. - The gross margin for metal powder materials increased by 5.28 percentage points to 22.96%[64]. - Nickel-based products generated a revenue of ¥684,564,670.66, with a gross margin of 24.36%, reflecting a year-on-year increase of 6 percentage points[64]. Assets and Liabilities - As of the end of 2024, the total assets amounted to RMB 1,787,200,282.98, a decrease of 7.96% from RMB 1,941,721,201.25 at the end of 2023[23]. - The net assets attributable to shareholders decreased by 2.75% to RMB 1,534,884,151.24 from RMB 1,578,278,652.22 at the end of 2023[23]. - Accounts receivable increased to ¥184.29 million, up 10.31% from ¥182.50 million[77]. - Inventory decreased to ¥288.82 million, down 33.53% from ¥434.51 million, attributed to increased sales[77][78]. - Accounts payable decreased significantly by 49.60% to ¥53.26 million, as project completions reduced outstanding liabilities[77][78]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.5 per 10 shares, totaling RMB 39,240,000.00 based on a total share capital of 261,600,000 shares[6]. - The company distributed a cash dividend of 1.80 RMB (including tax) per 10 shares, totaling 47.088 million RMB (including tax) for the 2023 profit distribution plan, and an interim dividend of 3.20 RMB (including tax) per 10 shares, totaling 83.712 million RMB (including tax)[41]. - The total cash dividends distributed over the last three accounting years amounted to RMB 248,520,000, with an average annual net profit of RMB 69,548,636.97, resulting in a cash dividend ratio of 357.33%[161]. - The company has not proposed a stock dividend or capital reserve increase for the current year, focusing solely on cash dividends[158]. Research and Development - The company applied for a total of 20 patents during the reporting period, including 13 invention patents and 7 utility model patents, and received authorization for 12 patents, comprising 6 invention patents and 6 utility model patents[39]. - The company is focusing on the development of ultra-high-capacity MLCCs, driven by the demand for high-performance materials[36]. - The company is actively expanding its high-end talent recruitment efforts to strengthen its R&D team and enhance its technological capabilities[39]. - The company's R&D expenses for the current period are 50,179,411.47 RMB, which is 5.31% of total revenue, showing a decrease of 26.72% compared to the previous year[72]. Market and Industry Trends - The MLCC market is expected to show structural growth in 2024, with demand in the consumer electronics sector gradually recovering and high-end fields such as new energy, communication equipment, industrial equipment, and medical electronics maintaining growth[95]. - The demand for automotive electronic MLCC is projected to grow rapidly, driven by the increasing adoption of MLCC in new energy vehicles and the smart, connected features of fuel vehicles[95]. - By 2026, global MLCC demand is expected to reach 57.11 billion units, with China's demand projected at 42.57 billion units, reflecting compound annual growth rates of 3.16% and 2.90% respectively[95]. - The overall MLCC and electronic component industry is expected to enter a prolonged period of prosperity, driven by the increasing demand from smart consumer electronics, new energy vehicles, and advancements in 5G communication and industrial automation[96]. Corporate Governance - The company has established a governance framework consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and effective checks and balances[116]. - The board of directors consists of nine members, including three independent directors, and has established several specialized committees to enhance decision-making efficiency and oversight[120]. - The company adheres to relevant laws and regulations to continuously improve its corporate governance structure and strengthen information disclosure practices[117]. - The company has a dedicated investor relations team to facilitate communication with investors and ensure timely responses to shareholder inquiries[123]. Risk Management - The company has outlined various risks and corresponding measures in the management discussion and analysis section of the report[10]. - The company has implemented a risk management strategy to address potential inventory and accounts receivable risks, which could adversely affect financial performance[110][112]. - The company maintains a cautious approach to derivative trading, ensuring compliance with relevant accounting standards and risk management protocols[91]. Environmental Responsibility - The company invested RMB 1,159,600 in environmental protection during the reporting period, emphasizing its commitment to environmental responsibility[168]. - The company has obtained the ISO 14001:2015 environmental management system certification, enhancing its environmental management practices[168]. - The company has implemented measures to reduce carbon emissions by utilizing solar photovoltaic panels to replace part of its energy consumption with clean energy[169]. Compliance and Regulatory Matters - On September 26, 2023, the company received a regulatory warning from the Shanghai Stock Exchange due to delays in fundraising project approvals and information disclosure obligations[135]. - The company has committed to improving compliance and internal control measures following the regulatory warning to enhance information disclosure quality[135]. - The company has established a plan to repurchase shares in case of any false statements or omissions in the prospectus, to protect investor interests[180].