Yonggui(SZ:300351)2025-04-20 07:35Financial Performance - The company's operating revenue for 2024 reached ¥2,020,047,787.42, representing a 33.04% increase compared to ¥1,518,372,554.29 in 2023[20]. - Net profit attributable to shareholders for 2024 was ¥125,796,324.18, a 24.47% increase from ¥101,063,036.32 in 2023[20]. - The net profit after deducting non-recurring gains and losses was ¥115,081,858.26, up 29.43% from ¥88,914,040.69 in 2023[20]. - The total assets of the company at the end of 2024 were ¥3,570,171,787.94, an increase of 11.61% from ¥3,198,773,014.16 at the end of 2023[20]. - The net assets attributable to shareholders increased by 5.36% to ¥2,444,558,809.37 at the end of 2024 from ¥2,320,288,890.80 at the end of 2023[20]. - The basic earnings per share for 2024 was ¥0.33, a 26.92% increase from ¥0.26 in 2023[20]. - The diluted earnings per share for 2024 was ¥0.32, reflecting a 23.08% increase from ¥0.26 in 2023[20]. - The net cash flow from operating activities for 2024 was ¥165,137,482.71, a 9.16% increase from ¥151,285,860.18 in 2023[20]. - The company achieved a total operating revenue of 2,020,047,787.42 CNY in 2024, representing a year-on-year growth of 33.04%[57]. - The revenue from the rail transportation industrial segment was 725,486,392.66 CNY, an increase of 8.19% compared to the previous year[57]. - The revenue from the vehicle and energy information segment reached 1,169,516,819.51 CNY, marking a significant growth of 52.24% year-on-year, with the new energy business contributing 111,942,17 CNY[53]. Dividend Distribution - The company plans to distribute a cash dividend of 0.60 RMB per 10 shares to all shareholders, based on a total of 387,874,197 shares[5]. - The total cash dividend amount distributed is 100% of the distributable profit, which is RMB 71,225,566.40[147]. - The cash dividend distribution is in line with the company's articles of association and shareholder resolutions[147]. - The company plans to distribute cash dividends of RMB 1 per 10 shares, totaling RMB 38,677,375.70 (including tax) based on a share capital of 386,773,757 shares for the fiscal year 2023[145]. - The cash dividend distribution date is set for May 27, 2024, with the ex-dividend date on May 28, 2024[146]. Research and Development - The company invested CNY 165.18 million in R&D in 2024, accounting for 8.18% of its revenue, and submitted 145 new patent applications[49]. - The company achieved a cumulative total of 726 patent authorizations by the end of 2024, including 128 invention patents, establishing a strong technological barrier[49]. - The number of R&D personnel increased to 871 in 2024, a rise of 23.90% compared to 703 in 2023[69]. - R&D expenditure amounted to approximately ¥165.18 million in 2024, representing 8.18% of operating revenue, down from 8.71% in 2023[69]. - The company is developing a range of new products, including high-frequency connectors for vehicles and liquid cooling systems, aimed at expanding its market presence[68]. - The company is actively pursuing market expansion through new product lines, including NACS standard charging guns for the North American market[68]. Market and Industry Trends - In 2024, China's automobile production and sales reached 31.282 million and 31.436 million units, respectively, representing year-on-year growth of 3.7% and 4.5%[30]. - By the end of 2024, the total number of new energy vehicles (NEVs) in China reached 31.4 million, accounting for 8.90% of the total vehicle population, with pure electric vehicles making up 70.34% of NEVs[30]. - NEV production and sales in 2024 were 12.888 million and 12.866 million units, showing year-on-year increases of 34.4% and 35.5%[30]. - The demand for charging infrastructure increased, with a total of 4.222 million new charging units added in 2024, a year-on-year increase of 24.7%[32]. - The company has entered the supply chain of major domestic and joint venture brands in the automotive sector, enhancing its competitive edge in the NEV charging market[50]. Corporate Governance - The company has established a complete and independent business system, including R&D, procurement, production, and sales[108]. - The company’s governance structure is in compliance with the relevant regulations set by the China Securities Regulatory Commission[107]. - The company is committed to maintaining high standards of corporate governance and transparency[120]. - The company has not received any penalties from the China Securities Regulatory Commission or the Shenzhen Stock Exchange regarding internal control issues during the reporting period[106]. - The company has established a clear decision-making process for the remuneration of its directors and senior management, which is subject to shareholder approval[129]. Operational Efficiency - The overall gross margin for the manufacturing sector was 27.67%, with a slight decrease compared to the previous year[59]. - Direct materials cost for 2024 reached ¥1,117,061,304.01, accounting for 76.46% of operating costs, up 33.40% from ¥837,370,770.51 in 2023[63]. - Direct labor costs increased by 54.42% to ¥221,132,655.22, representing 15.14% of operating costs compared to 13.17% in 2023[63]. - Sales expenses increased by 12.07% to ¥130,398,557.70, while management expenses surged by 28.39% to ¥138,048,000.00[67]. - The company reported a 12% reduction in operational costs due to efficiency improvements implemented in the last quarter[126]. Strategic Initiatives - The company plans to issue 980 million CNY of convertible bonds to fund projects related to connector intelligence and supercharging industry upgrades[56]. - The company is focused on deepening market expansion and optimizing customer structure by analyzing market trends and customer needs[94]. - The company aims to enhance its R&D investment, focusing on cutting-edge technology research and key technology breakthroughs, with a commitment to continuous innovation[92]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million allocated for potential deals[126]. - The company plans to implement measures to compensate for any dilution of immediate returns, linking executive compensation to the execution of these measures[175]. Employee and Management - The total number of employees at the end of the reporting period is 2,534, with 1,012 in production, 191 in sales, 871 in technology, 54 in finance, and 406 in administration[140]. - The company has adopted a performance-based compensation system that combines individual and team performance to enhance employee motivation and retention[142]. - The company has implemented training programs focusing on middle management leadership and key talent efficiency management to improve employee capabilities[143]. - The management team emphasized a commitment to shareholder value, with plans to increase dividends by 10% in the upcoming fiscal year[126]. - The current management team includes experienced professionals with backgrounds in engineering and finance[118][120]. Compliance and Risk Management - The company emphasizes the importance of risk management and has detailed potential risks and corresponding countermeasures in the management discussion section[5]. - The company is committed to establishing a global supply chain network and sales channels to transition from a regional brand to a global brand[88]. - The company will implement a panoramic business early warning mechanism to monitor economic cycles and industry policy variables, addressing performance growth volatility risks[97]. - The company has not reported any significant changes in its internal control system that require rectification[106]. - The internal control audit report confirms that the company maintained effective internal controls in all material respects as of December 31, 2024[167].