Heshun Electric(300141)2025-04-20 07:40Financial Performance - The company achieved operating revenue of CNY 428.13 million, an increase of 26.52% compared to the previous year[19]. - The net profit attributable to shareholders was a loss of CNY 26.77 million, marking a decline of 488.14% year-on-year[19]. - The net cash flow from operating activities was CNY 99.95 million, representing a 62.32% increase from the previous year[19]. - The total assets at the end of 2024 were CNY 1.07 billion, a growth of 4.79% compared to the end of 2023[19]. - The company's net assets attributable to shareholders decreased by 3.04% to CNY 648.25 million compared to the previous year[19]. - The basic earnings per share were -CNY 0.11, a decrease of 466.67% from the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 325,999.30, a decrease of CNY 86,571.20 compared to the previous period[23]. - The net cash flow from operating activities was CNY 28,072,259.32, compared to CNY 19,600,874.81 in the previous period[23]. - The company reported a total of CNY 2,229,506.64 in non-recurring gains and losses, a significant recovery from a loss of CNY 2,586,612.35 in the previous period[27]. Research and Development - The company plans to continue increasing investment in new product research and development, aiming to enhance core competitiveness and profitability[4]. - The company reported a significant increase in R&D expenses due to the active development of new products[4]. - The company has developed a complete R&D, design, production, and sales system, focusing on customer order demands for production planning[37]. - The company has obtained 118 authorized patents, including 22 invention patents, with R&D investment accounting for 6.80% of total revenue[42]. - Research and development expenses surged to 29,121,042.27, a significant increase of 91.51% compared to 15,206,352.37 in 2023, driven by investments in new markets and products[65]. - R&D investment as a percentage of operating revenue rose to 6.80%, up from 4.49% in 2023, indicating a strategic focus on innovation[68]. - The company is investing in R&D to keep pace with technological advancements in smart grids and renewable energy systems[98]. Market and Business Expansion - The company is actively involved in the construction and operation of charging stations and photovoltaic power generation projects, expanding its business scope[35]. - The company is positioned to benefit from the increasing demand for energy storage solutions, supported by favorable policies and technological advancements in the industry[32]. - The company operates in the electrical machinery and equipment manufacturing industry, which is expected to see significant growth due to increased investment in power infrastructure during the "14th Five-Year Plan" period[29]. - The company is actively expanding its market presence in the new energy sector and optimizing the R&D and production ecosystem for energy storage and charging devices[41]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[126]. - The company plans to expand its market presence by entering three new regions in the next fiscal year, aiming for a 15% increase in market share[2]. Competition and Challenges - The company is facing intense competition in traditional industries, impacting net profit[4]. - The company is navigating intense market competition, which may pressure profit margins and requires differentiation strategies[96]. - The company is addressing operational performance volatility risks due to project completion dependencies, particularly in the photovoltaic sector[94]. - The company faces policy risks that may impact production and operations, necessitating close monitoring of national energy policies and market trends[93]. Governance and Management - The company has established a robust corporate governance structure, ensuring timely and accurate information disclosure to protect shareholder rights[174]. - The company has a transparent and fair information disclosure system, ensuring all shareholders have equal access to information[111]. - The company has established a performance evaluation mechanism for senior management to enhance operational efficiency and management standards[162]. - The company has a dedicated board secretary responsible for investor relations management, enhancing communication with investors[112]. - The company operates independently from its controlling shareholders in terms of business, assets, personnel, finance, and organization[114]. - The board of directors has undergone changes, with Gu Yifeng resigning on April 25, 2024, due to personal reasons, and Yu Qiang being elected as a new director on May 17, 2024[124]. Employee and Social Responsibility - The company has implemented a comprehensive employee benefits program, including medical, pension, unemployment, work injury, and maternity insurance, ensuring compliance with labor laws[176]. - The company has committed to improving employee working conditions and safety management, ensuring a safe and supportive work environment[176]. - The company has a strong commitment to social responsibility, balancing economic benefits with the protection of stakeholders' rights[173]. - The subsidiary Su Rong Company will continue its work related to poverty alleviation for disabled individuals in 2024, maintaining existing policies[180]. Financial Management and Investments - The company is optimizing financial management to improve capital efficiency and reduce operational risks, including enhancing accounts receivable management[91]. - The company is exploring new financing channels to support industrial scale development and improve capital operation efficiency[92]. - The company reported a significant investment income of 3,781,338.42, contributing to 14.84% of total profit, primarily from structured deposit returns[73]. - The company has not reported any significant discrepancies between financial data disclosed under international accounting standards and Chinese accounting standards[24]. Shareholder and Profit Distribution - The profit distribution plan proposed by the board includes no cash dividends or bonus shares for shareholders[7]. - The proposed cash dividend for 2023 is CNY 0.12 per 10 shares, totaling CNY 3,046,615.20, with no stock dividends or capital reserve transfers planned[156]. - The company plans not to distribute cash dividends or stock dividends for the 2024 fiscal year, with undistributed profits carried forward[159]. - The independent directors have fulfilled their responsibilities in the decision-making process regarding the profit distribution plan[158]. Environmental Responsibility - The company emphasizes environmental responsibility, actively promoting green initiatives and adhering to national environmental protection laws without incurring penalties[172]. - The company is committed to environmental protection and sustainable development, aiming to build a resource-saving and environmentally friendly enterprise[178]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[172].