TSP(SZ:300129)2025-04-18 12:45Financial Performance - The company's operating revenue for 2024 was approximately ¥4.84 billion, representing a slight increase of 0.52% compared to ¥4.81 billion in 2023[14]. - The net profit attributable to shareholders decreased by 37.77% to ¥181.96 million in 2024 from ¥292.41 million in 2023[14]. - The net profit after deducting non-recurring gains and losses was ¥178.31 million, down 29.11% from ¥251.53 million in the previous year[14]. - The net cash flow from operating activities was negative at -¥380.04 million, a decline of 81.82% compared to -¥209.03 million in 2023[14]. - Basic earnings per share fell by 37.79% to ¥0.1946 in 2024 from ¥0.3128 in 2023[14]. - Total assets increased by 19.63% to approximately ¥9.41 billion at the end of 2024, up from ¥7.87 billion at the end of 2023[14]. - The net assets attributable to shareholders rose by 2.99% to ¥4.43 billion in 2024 from ¥4.30 billion in 2023[14]. - The company reported a significant decline in quarterly net profit, with the fourth quarter showing only ¥32.70 million compared to higher profits in previous quarters[18]. - The company recognized a non-recurring loss of ¥19.28 million from the disposal of non-current assets in 2024, contrasting with a gain of ¥66.53 thousand in 2023[21]. Dividend Distribution - The company plans to distribute a cash dividend of 0.6 RMB per 10 shares to all shareholders, based on a total of 934,899,232 shares[3]. - The company plans to distribute a cash dividend of RMB 0.50 per 10 shares, totaling RMB 46,744,961.60, based on a total share capital of 934,899,232 shares[163]. - The cash dividend distribution plan complies with the company's articles of association and the shareholder return plan for 2024-2026, ensuring the protection of minority shareholders' rights[163]. - The total distributable profit for the year is RMB 803,036,305.71, with the cash dividend amounting to 100% of the profit distribution total[165]. Market and Industry Outlook - In 2024, China's wind power installed capacity is expected to reach 79.82 GW, a year-on-year increase of 6%[29]. - The average utilization rate of wind power in China is projected to be 95.9% in 2024, with total wind power generation reaching 991.6 billion kWh, up 16% from the previous year[29]. - The global renewable energy installed capacity is expected to add approximately 700 GW in 2024, marking a new annual high for 22 consecutive years[27]. - The cost of onshore wind power in China has significantly decreased from $87/MWh in 2010 to $30/MWh in 2024, a reduction of 65.5%[31]. - The European Union's renewable energy policies, including the "Net Zero Industry Act," are expected to drive growth in the wind energy sector[27]. - The Chinese government aims for wind and solar power to account for over 17% of the national electricity generation by 2024[33]. Business Development and Strategy - The company's overseas business development is a key focus, with successful acquisition of supplier certifications from major international clients[28]. - The company aims to add over 200 million kW of new renewable energy generation capacity and achieve an electricity generation volume of approximately 10.6 trillion kWh by 2025[36]. - The company is actively enhancing its market layout and promoting industrial upgrades to maintain its competitive edge in the domestic wind power tower industry[37]. - The company is committed to maximizing current production capacity through technological improvements and resource integration while expanding its market footprint in the offshore wind power sector[100]. - The company plans to enhance its market presence in both domestic and international wind power markets, with specific targets for 2025 including a total production goal of 700,000 tons of steel towers and 250 sets of concrete towers[100]. Research and Development - The company has invested in high-end intelligent manufacturing R&D and supply chain capabilities, although the impact of innovation and other businesses on financial performance has been minimal during the reporting period[40]. - The company has developed over 300 valid patents in the fields of wind power and marine engineering, covering design, process, manufacturing technology, quality inspection, and new tooling[45]. - The company completed several key R&D projects, including the development of advanced welding techniques and the construction process for large offshore wind power foundations, which are expected to enhance competitiveness in the market[69]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[200]. Risk Management - The company faces various risks including significant fluctuations in raw material prices, project contract delays, and market competition[3]. - The company emphasizes risk management through foreign exchange hedging to stabilize financial performance and mitigate the impact of exchange rate fluctuations[88]. - The company is actively managing accounts receivable to prevent overdue payments and has purchased credit insurance for export receivables[89]. - The company is prepared to adjust its business scope in response to changes in industry policies to mitigate short-term policy risks[111]. Governance and Compliance - The company has established a market value management system and disclosed a valuation enhancement plan[116]. - The company's governance structure is compliant with relevant laws and regulations, ensuring independent operation from its controlling shareholder[118]. - The board of directors consists of 13 members, including 5 independent directors, ensuring compliance with governance requirements[119]. - The company maintains a transparent information disclosure system, ensuring timely and accurate communication with investors[120]. - The company has a complete and independent financial management system, with no shared bank accounts with its controlling shareholder[124]. Environmental Responsibility - The company has complied with various environmental protection laws and standards during its operations, including the Environmental Protection Law of the People's Republic of China[174]. - The total environmental investment for the Tai Sheng Blue Island base in 2024 amounted to CNY 520,468, primarily for hazardous waste disposal, environmental monitoring, and sewage pond cleaning[182]. - The company has committed to reducing carbon emissions, with details available in the 2024 Sustainable Development Report[183]. - The Tai Sheng Blue Island base has implemented a self-monitoring plan in accordance with the "Technical Guidelines for Self-Monitoring of Pollutant Discharge Units," with annual monitoring of waste gas and soil, and semi-annual monitoring of wastewater[180]. Employee and Management Structure - The total number of employees at the end of the reporting period is 1,053, with 186 in the parent company and 867 in major subsidiaries[159]. - The company has established a salary system based on job value, ensuring internal balance and external competitiveness, and encourages employees to enhance their professional knowledge and skills[160]. - The company has a complete and independent labor, personnel, and compensation management system, separate from its major shareholders[191]. - The management team has a strong educational background, with multiple members holding master's degrees and professional qualifications such as CPA and legal certifications[130][131][132][133][134][135][136][137][138].