YINLUN(SZ:002126)2025-04-18 16:20Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares (including tax) to all shareholders, with no bonus shares issued[4]. - The company has maintained its shareholder structure without any changes in controlling shareholders[19]. - The company’s cash dividend distribution plan was transparent and compliant with regulations, ensuring the protection of minority shareholders' rights[172]. - The company did not issue any bonus shares during the reporting period, maintaining a cash dividend policy without capital reserve conversion[172]. Financial Performance - The company's operating revenue for 2024 reached ¥12.70 billion, representing a 15.28% increase compared to ¥11.02 billion in 2023[6]. - Net profit attributable to shareholders for 2024 was ¥783.53 million, up 28.00% from ¥612.14 million in 2023[6]. - The net profit excluding non-recurring gains and losses was ¥682.80 million, a 17.54% increase from ¥580.92 million in 2023[6]. - Cash flow from operating activities increased by 30.80% to ¥1.21 billion in 2024, compared to ¥921.38 million in 2023[6]. - Basic earnings per share rose to ¥0.96, a 24.68% increase from ¥0.77 in 2023[6]. - Total assets at the end of 2024 were ¥18.36 billion, reflecting a 13.65% increase from ¥16.16 billion at the end of 2023[6]. - The company achieved a revenue of CNY 12,702,065,139.65 in 2024, representing a year-on-year growth of 15.28%[62]. - The net profit attributable to shareholders reached CNY 78,352.51 million, marking a 28% increase compared to the previous year[56]. Market and Business Operations - The company operates under the stock code 002126 on the Shenzhen Stock Exchange[16]. - The company has not undergone any changes in its main business since its listing[19]. - The company has established a production capacity of 27 million units for heat exchange products, with a sales revenue of approximately ¥5.29 billion[49]. - The company is focusing on expanding its presence in the digital and energy heat exchange sectors, indicating a strategic shift towards emerging markets[47]. - The company is focusing on enhancing cooling efficiency for data centers, which is critical for reducing energy consumption[31]. - The company is expanding into emerging fields such as intelligent driving and data processing centers, which provides significant long-term growth potential[53]. Research and Development - The company has implemented a technology-driven strategy, focusing on product and technology development, enhancing its competitive edge in the market[43]. - The company has a global R&D network with centers in Shanghai, Europe, and North America, contributing to its technological advancements[43]. - The company is researching advanced thermal management systems for electric vehicles to improve winter range and ensure safety during high-temperature fast charging[71]. - The company is developing a heat pump thermal management system that integrates air, battery, and water routes, aiming to enhance efficiency in extreme temperatures[71]. - The company has completed the development of energy storage thermal management products, including 8kW, 12kW, and 40kW systems, expanding its presence in the energy storage sector[72]. Environmental and Sustainability Initiatives - The company has implemented air pollution control measures since 2008, collaborating with various environmental engineering firms to ensure compliance with emission standards[190]. - The company has established a comprehensive environmental management system to comply with national environmental protection laws and standards[186]. - The company has conducted a comprehensive greenhouse gas inventory to identify energy structure and key emission sources[195]. - The company has implemented energy management strategies, including the establishment of a long-term carbon reduction mechanism[195]. - A photovoltaic power generation project has been constructed on the company's rooftops to reduce energy consumption and carbon emissions[195]. Governance and Compliance - The company emphasizes the accuracy and completeness of its financial report, with all board members present for the meeting[4]. - The company adheres to various legal and regulatory requirements to enhance its governance structure and internal control systems[126]. - The company has established a clear asset ownership structure, with no reliance on the largest shareholder for production facilities[128]. - The company maintains an independent financial accounting department and has its own bank accounts, ensuring no funds are occupied by the largest shareholder[129]. - The company has a robust independent financial management system, ensuring compliance with legal and regulatory requirements[129]. Strategic Goals and Future Outlook - The company has set a revenue target of RMB 15 billion and a net profit target of RMB 1.05 billion for 2025, focusing on improving efficiency and effectiveness[106]. - The company aims to enhance its international capabilities, with a focus on localizing R&D, sales, production, and service in the North American market[107]. - The company plans to achieve profitability in its European operations by 2025, with a collaborative effort from the headquarters[107]. - The company is expected to maintain its growth trajectory with a focus on operational efficiency and market expansion initiatives[135]. - Future guidance indicates a focus on sustainability initiatives, with a target of reducing carbon emissions by 30% by 2025[150]. Employee and Management Information - The total number of employees at the end of the reporting period is 10,494, with 2,973 in the parent company and 7,521 in major subsidiaries[162]. - The company has implemented employee stock ownership plans and stock options as part of its compensation policy[164]. - The total compensation for senior management includes stock options valued at 1,156 million, indicating a strong incentive structure[133]. - The company has a combination of basic salary and year-end performance assessment for determining the remuneration of its executives[153]. - The company completed 1,839 training sessions in 2024, including 243 sessions for cross-departmental training projects[165]. Risks and Challenges - Future risks that the company may face are detailed in the report, particularly in the section on future development outlook[4]. - The company faces significant risks, including macroeconomic fluctuations that could impact orders for commercial vehicles and new energy vehicles[117]. - Raw material price volatility poses a risk, as materials like aluminum, steel, and copper constitute a high percentage of the main business costs[118]. - Currency exchange rate fluctuations could affect the company's international competitiveness and operating performance due to its international sales[120]. - The competitive landscape in the automotive parts manufacturing industry is intense, necessitating improvements in product competitiveness and brand influence[119].