JUFEI(300303)2025-04-18 16:00Financial Performance - The company's operating revenue for 2024 reached ¥3,053,431,314.60, representing a 21.54% increase compared to ¥2,512,195,733.65 in 2023[5]. - Net profit attributable to shareholders for 2024 was ¥339,617,539.93, a significant increase of 47.63% from ¥230,045,144.11 in 2023[5]. - The basic earnings per share for 2024 was ¥0.25, up 47.06% from ¥0.17 in 2023[5]. - The total assets at the end of 2024 amounted to ¥5,989,149,012.81, reflecting a 12.30% growth from ¥5,333,391,923.32 at the end of 2023[5]. - The company reported a net cash flow from operating activities of ¥320,840,196.04, which is a 20.56% increase from ¥266,115,333.81 in 2023[5]. - The company's total revenue for the reporting period reached ¥3,053,431,314.60, representing a year-on-year increase of 21.54% compared to ¥2,512,195,733.65 in the previous year[78]. - Net profit attributable to shareholders reached 33,961.75 million yuan, reflecting a growth of 47.63% compared to the previous year[67]. Market Trends and Technology - The Mini LED technology is gaining traction in the market, driven by increasing consumer demand for high-end display products and government policy support[26]. - The automotive LED market is experiencing rapid growth, with increased demand for LED applications in various vehicle components, reflecting a shift towards intelligent and interactive displays[28]. - The Mini LED backlight technology has seen rapid development and is widely used in various applications, contributing to significant market share growth[69]. - The Mini/Micro LED technology is rapidly industrializing, with strong growth trends in the application market, especially in AR/VR/MR fields, despite the need for supply chain maturity[36]. - The LED industry is experiencing increasing concentration, with leading companies gaining more bargaining power and core patents, resulting in a "stronger gets stronger" competitive landscape[30]. - The company is focusing on expanding its product offerings in high-value segments of the LED industry, which are expected to drive sustained growth[29]. - The company is positioned to benefit from the growing demand for large-size, high-definition, and interactive displays, driven by advancements in IoT and AI technologies[35]. Research and Development - The company has applied for over 753 patents, with approximately 50% being invention patents, covering various technology fields[59]. - R&D expenses increased by 34.24% year-over-year, totaling 204,751,103.40 CNY, primarily due to higher salaries and material costs[87]. - R&D investment reached ¥204,751,103.40 in 2024, representing 6.71% of operating revenue, an increase from 6.07% in 2023[89]. - The company has increased R&D investment in new products and technologies, focusing on expanding its LED and related product lines, including infrared and optical sensors[74]. - The company has established a joint innovation laboratory with Xiaomi Group to enhance R&D capabilities in new backlight, Mini LED, automotive LED, and Micro LED applications[57]. Corporate Governance - The company has a governance structure that complies with the "Corporate Governance Guidelines" and relevant regulations, ensuring independent decision-making from its controlling shareholders[128]. - The board of directors consists of 5 members, including 2 independent directors, meeting legal and regulatory requirements[129]. - The company has implemented a performance evaluation system linking the performance of directors and senior management to their compensation[135]. - The company has conducted six board meetings and six supervisory meetings during the reporting period, ensuring compliance with governance practices[132][134]. - The company actively engages in social responsibility initiatives, contributing to environmental protection and social harmony[138]. Risk Management - The company acknowledges risks in its operations, including macroeconomic risks, market risks, and risks associated with declining product sales prices[4]. - The company faces risks from macroeconomic fluctuations, market competition, and potential declines in product sales prices due to increased production capacity[117][118]. - The company has committed to enhancing compliance awareness and risk management following the administrative measures, aiming to improve corporate governance and information disclosure quality[199]. Employee Management - The total number of employees at the end of the reporting period was 2,364, with 1,292 in the parent company and 1,072 in major subsidiaries[160]. - The company has a total of 2,580 employees receiving salaries, with 1,415 in production, 503 in technical roles, and 328 in administrative positions[161]. - The company plans to enhance its training programs in 2024, focusing on various employee development initiatives[163]. - The company has implemented a stock incentive plan to attract and retain talent, granting restricted stock to incentivized individuals[171]. Environmental Responsibility - The company achieved a 20% reduction in central air conditioning energy consumption through energy-saving renovations[182]. - The company installed a rooftop solar power station with a capacity of 1.6 MW, generating no less than 2 million kWh annually, reducing CO2 emissions by 1,899 tons[182]. - The company has committed to a paperless office initiative, promoting energy-saving practices among employees[181]. - The company has implemented a waste classification system in compliance with national environmental protection policies[182]. Financial Management - The company has established a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[167]. - The company plans to strengthen product and technology planning for growth businesses, enhancing technical and process capabilities[116]. - The company has committed to not using its assets for unrelated investments or consumption activities[189]. - The current accounting firm is Lixin Certified Public Accountants (Special General Partnership), with an audit service fee of 630,000 RMB and a continuous service period of 5 years[195].