WST(SH:688122)2025-04-21 10:20Financial Performance - The company's operating revenue for 2024 reached ¥4,612,471,588.04, representing a year-on-year increase of 10.91% compared to ¥4,158,784,265.02 in 2023[22]. - Net profit attributable to shareholders for 2024 was ¥800,789,109.36, a 6.44% increase from ¥752,372,077.81 in 2023[22]. - The net cash flow from operating activities surged to ¥446,415,208.35, marking a significant increase of 176.29% compared to ¥161,573,753.57 in 2023[22]. - The total assets of the company at the end of 2024 amounted to ¥13,609,314,222.99, reflecting a 12.62% growth from ¥12,084,145,162.07 in 2023[22]. - Basic earnings per share for 2024 were ¥1.2326, up 6.43% from ¥1.1581 in 2023[23]. - The company reported a total net profit of ¥197,125,796.40 in Q4 2024, with a quarterly revenue of ¥1,377,345,272.44[24]. - The company achieved a total sales revenue of 4.612 billion yuan, representing a year-on-year growth of 10.91%[34]. - The net profit attributable to the parent company was 800 million yuan, an increase of 6.44% compared to the previous year[34]. - The company's total assets reached 13.609 billion yuan, up 12.62% from the beginning of the year[34]. - The revenue from superconducting products, high-end titanium alloy materials, and high-performance high-temperature alloy materials reached 4.383 billion RMB, an increase of 10.57% year-on-year[96]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 64,966,449.70 (including tax) for the first three quarters of 2024[5]. - For the 2024 fiscal year, the proposed cash dividend is RMB 6.5 per 10 shares, amounting to a total of RMB 422,281,923.05 (including tax), pending shareholder approval[6]. - The total cash dividend for 2024, including the interim distribution, is projected to be RMB 487,248,372.75[6]. - The total cash dividend for 2024, including the mid-term distribution, is projected to be RMB 487,248,372.75, which represents 60.85% of the net profit attributable to ordinary shareholders[179]. - Cumulative cash dividends over the last three fiscal years amount to RMB 1,406,059,589.65, with a cash dividend ratio of 160.20% based on average net profits of RMB 877,693,939.99[181]. Research and Development - The company invested 342 million yuan in R&D throughout the year, resulting in 177 patent applications[33]. - The company's R&D expenditure as a percentage of operating revenue was 7.42% in 2024, a slight decrease of 0.3 percentage points from 7.72% in 2023[23]. - The company has invested RMB 908,380,354.38 in research and development over the last three fiscal years, accounting for 6.99% of cumulative revenue[181]. - The company has a strong focus on R&D, with key personnel involved in the development of superconducting materials and high-performance titanium alloys[146]. - The R&D team is led by academic experts in superconducting materials and rare metal materials, supported by several national and provincial research platforms[77]. Corporate Governance - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[4]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has not reported any instances of more than half of the board members being unable to guarantee the accuracy and completeness of the annual report[9]. - The company has established a governance structure with a board of 9 directors, including 3 independent directors, to ensure effective oversight and management[137]. Market Position and Strategy - The company is the only international producer of NbTi ingots, bars, superconducting wires, and superconducting magnets, positioning itself as a key player in the industry[37]. - The company focuses on dual-driven development through technological advancement and market demand, leveraging various R&D platforms to maintain and expand its technological leadership[39]. - The company has established long-term procurement agreements with large suppliers, ensuring stable raw material supply channels for key materials such as titanium sponge and nickel[40]. - The company aims to address quality issues in high-temperature alloy production through new technologies and international equipment, leading to improved product quality and reduced costs[45]. - The company is committed to filling domestic gaps in key materials for new aircraft, aerospace engines, and other critical fields, aiming to become a leading international new materials innovation and production base[134]. Environmental Initiatives - The company has allocated RMB 312.13 million for environmental protection initiatives during the reporting period[186]. - The company has completed a 1.2MW solar photovoltaic project and increased the proportion of green electricity consumption to over 30% of total electricity usage during the reporting period[195]. - The company has achieved compliance with wastewater discharge standards and air pollutant emission standards, ensuring all pollutants are within regulatory limits[192]. - The company has received recognition as a "National Green Factory" and "Shaanxi Province Green Factory" for its efforts in reducing greenhouse gas emissions[197]. - The company has implemented measures to reduce carbon emissions, including the promotion of clean production and the replacement of traditional fuel forklifts[194]. Risk Management - The company has outlined potential risks associated with forward-looking statements in its report[7]. - The company has a risk management strategy in place to address potential challenges related to its core competitiveness and operational efficiency[85]. - The company plans to enhance product research and development to mitigate risks associated with high customer concentration[86]. - The company is actively developing new supply channels to reduce the impact of raw material price fluctuations on its operations[87]. - The company has established a safety production management system to address potential safety risks in its operations[87].