Addsino (SZ:000547)2025-04-18 16:10Financial Performance - The company's operating revenue for 2024 was CNY 1,868,864,470, representing a 0.34% increase compared to CNY 1,862,575,220 in 2023[18]. - The net profit attributable to shareholders for 2024 was CNY 1,672,729,460, a decrease of 13.07% from CNY 1,950,391,840 in 2023[18]. - The net cash flow from operating activities increased by 138.08% to CNY 116,550,208 in 2024, compared to CNY 306,101,061 in 2023[18]. - Total assets decreased by 11.82% to CNY 11,338,738,900 in 2024 from CNY 12,855,095,600 in 2023[19]. - The net assets attributable to shareholders decreased by 24.38% to CNY 5,188,954,270 in 2024 from CNY 6,862,212,010 in 2023[19]. - The weighted average return on net assets was -27.76% in 2024, a decrease of 3.29 percentage points from -24.80% in 2023[18]. - The basic and diluted earnings per share for 2024 were both CNY -1.05, improving by 12.50% from CNY -1.22 in 2023[18]. - The company reported a significant decrease in government subsidies, with amounts of ¥31.87 million in 2024 compared to ¥108.19 million in 2023, reflecting a 70.6% decline[25]. Operational Developments - The company is focusing on four major sectors: Blue Army systems and equipment, new generation communication and command equipment, space information applications, and data intelligence and security[30]. - The company is actively developing a satellite constellation for atmospheric data collection, with stable operation providing various meteorological data products[34]. - The company has established a comprehensive data service capability, receiving positive feedback from clients in various sectors, including government and disaster prevention[34]. - The company has integrated satellite data into China's meteorological observation system, laying a solid foundation for future business development and high-quality commercialization[43]. - The company launched a new intelligent disaster recovery management platform and upgraded four platform products, enhancing its influence in the industry[45]. - The company achieved growth in export business to emerging markets in Africa and Southeast Asia, with increased export value to the Middle East and Europe compared to the previous year[45]. Research and Development - Research and development expenses decreased by 10.88% to ¥470,764,831.47 compared to the previous year[56]. - The number of R&D personnel decreased by 33.24% to 1,173, with a significant drop in the number of personnel holding bachelor's degrees by 28.27%[58]. - Total R&D investment amounted to ¥493,300,677.47, which is 26.40% of operating revenue, down from 30.54% in the previous year[58]. - The company is focusing on developing new technologies, including a 2K module technology and a digital document management platform[57]. - The company aims to enhance its market competitiveness through the development of a new generation of RF simulation technology and low-cost electromagnetic protection coatings[57]. Governance and Compliance - The company emphasizes strict compliance with governance regulations, ensuring the independence of its operations from controlling shareholders[107]. - The company established a sound corporate governance structure with independent financial decision-making and compliance in financial management[108]. - The company is committed to maintaining compliance with legal and regulatory requirements in its financial operations[108]. - The governance structure includes a balance of power among the shareholders' meeting, board of directors, and supervisory board[108]. - The company has committed to ongoing compliance with relevant regulations following the completion of its corrective actions[193]. Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares for the 2024 fiscal year[5]. - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for the reporting period[143]. - The company is committed to improving transparency and operational efficiency in its profit distribution policy, as outlined in its shareholder return plan for 2024-2026[141]. - The company will maintain a cash dividend distribution of at least 30% of the average distributable profit over the last three years[173]. - The company guarantees the independence of its personnel, assets, institutions, business, and finances post-restructuring, ensuring that senior management is exclusively employed by the company[161]. Risk Management - The company has implemented a comprehensive internal control management system to enhance risk management and operational processes, improving overall internal control management levels[145]. - The internal control evaluation report indicates that the total assets and total revenue of the evaluated units account for 100% of the company's consolidated financial statements[149]. - The company has rectified previous internal control deficiencies related to government subsidy recognition and confirmation, ensuring compliance with accounting standards[151]. - The company faces risks from industry and policy changes, necessitating adjustments in operational strategies based on macroeconomic and industry policies[94]. - Increased competition in the military products sector is impacting market share, prompting the company to optimize resource allocation and enhance R&D investment[95]. Financial Management - The total cash inflow from financing activities rose by 8.98% to ¥1,625,512,497.92, while cash outflow increased by 48.62% to ¥1,959,985,498.14, resulting in a net cash flow deficit of ¥334,473,000.22[60]. - The company's cash and cash equivalents increased by 323.59% to ¥173,460,791.86, compared to a decrease of ¥77,580,858.06 in the previous year[60]. - The company has a commitment to invest in projects related to reliable data backup and cloud computing, with a total investment commitment of RMB 40,512,700[74]. - The company will ensure the effective use of raised funds in compliance with regulations, enhancing the management of these funds[171]. - The company will continue to monitor and supervise the use of raised funds to mitigate risks associated with their deployment[171].