Desay Battery(SZ:000049)2025-04-21 10:35Financial Performance - The company's operating revenue for 2024 was approximately ¥20.86 billion, an increase of 2.83% compared to ¥20.28 billion in 2023[6]. - The net profit attributable to shareholders decreased by 26.49% to ¥413.01 million in 2024 from ¥561.87 million in 2023[6]. - The net profit after deducting non-recurring gains and losses fell by 36.72% to ¥339.33 million in 2024 compared to ¥536.20 million in 2023[6]. - The net cash flow from operating activities significantly dropped by 87.40% to ¥365.60 million in 2024 from ¥2.90 billion in 2023[6]. - The total assets at the end of 2024 were approximately ¥16.99 billion, reflecting a 2.98% increase from ¥16.50 billion at the end of 2023[6]. - The company's weighted average return on equity decreased to 6.41% in 2024 from 12.72% in 2023, a decline of 6.31 percentage points[6]. - Total revenue for 2024 reached ¥20,859,251,590.68, representing a year-on-year increase of 2.83% compared to ¥20,284,918,957.13 in 2023[50]. - The net profit attributable to shareholders was 413 million yuan, a decrease of 26.49% compared to the previous year[44]. - The sales revenue from the energy storage business reached 1.887 billion yuan, with a significant year-on-year increase of 56.04%[46]. - The SIP business generated sales of 2.671 billion yuan, reflecting a year-on-year growth of 24.99%[46]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 3.30 CNY per 10 shares (including tax) to all shareholders, based on a total share capital of 384,638,534 shares[5]. - The profit distribution plan for 2023 was approved, with a cash dividend of 4.50 yuan per 10 shares, based on a total share capital of 384,638,534 shares[130]. - The company reported a cash dividend of 3.30 CNY per 10 shares, totaling 126,930,716.22 CNY, which represents 100% of the total profit distribution amount[132]. - The distributable profit for the period was 295,549,126.08 CNY, indicating a strong capacity for shareholder returns[132]. Business Focus and Strategy - The company has shifted its main business focus to the production and manufacturing of power management systems and various lithium batteries since 2004[16]. - The company aims to become a leading global provider of new energy solutions, focusing on customer service quality and competitive strength[86]. - By 2025, the company plans to deepen its focus on lithium battery power management systems and expand into strategic emerging fields like energy storage batteries[87]. - The company is focusing on strategic areas such as household energy storage and independent shared energy storage to enhance its market position[48]. Risk Management and Compliance - The company emphasizes the importance of accurate and complete financial reporting, with the management team taking legal responsibility for the report's content[4]. - The company has detailed potential risks and countermeasures in its management discussion and analysis section[5]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the independence of its board and management from major shareholders[98]. - The company has implemented a "Quality and Return Dual Improvement" action plan, although details on its disclosure status were not provided[96]. - The company has a complete and independent asset structure with clear property rights[102]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as outlined in its annual report[5]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, and no administrative penalties were incurred during the reporting period[142]. - The company has obtained all necessary environmental protection administrative permits for its construction projects, with valid permits for its subsidiaries until 2027 and 2030[144]. - The company purchased a total of 86.4 million kWh of green electricity, saving approximately 10,619 tons of standard coal and reducing carbon dioxide emissions by about 46,367 tons[152]. - The company has implemented a hazardous waste management plan, ensuring compliance with local regulations and proper disposal of 88.455 tons of hazardous waste[149]. Research and Development - Research and development expenses increased by 40.05% to ¥899,178,663.18, primarily due to higher salaries, material consumption, and depreciation[60]. - The number of R&D personnel rose by 20.72% to 1,713, with a notable increase in the proportion of bachelor's degree holders by 17.54%[62]. - The company is in the industrialization phase for several new technologies, including a new bidirectional inverter power supply and a battery management system for electric tools[62]. - The development of sodium-ion batteries is in the verification stage, with a focus on enhancing product competitiveness and opening new market opportunities[62]. Corporate Governance - The company has a structured remuneration decision-making process involving the shareholders' meeting and the board of directors[113]. - The company has a history of appointing experienced professionals in key management positions, ensuring effective governance[109]. - The company’s board of directors strictly adhered to corporate governance regulations and actively participated in decision-making processes[118]. - The company has established independent human resources management, ensuring that all employees are contracted directly with the company[101]. Market and Industry Trends - The global energy storage battery shipment is projected to reach 301 GWh in 2024, a year-on-year increase of 62.7%[28]. - The total production of lithium batteries in China is expected to be 1170 GWh in 2024, representing a 24% year-on-year growth[28]. - The global smartphone shipment is forecasted to reach 1.24 billion units in 2024, a growth of 6.4% compared to the previous year[29]. - The domestic production of electric hand-held tools in China is expected to increase by 17.8% to 209 million units in 2024[30]. Financial Audit and Reporting - The company’s financial statements have been audited by Tianjian Accounting Firm, ensuring compliance and accuracy[9]. - The company received an unqualified audit opinion from Tianjian Accounting Firm for its 2024 financial report, indicating a true reflection of its financial status[125]. - The internal control system has been continuously improved, with a focus on risk identification and assessment in high-risk areas[134]. - The internal control evaluation report will be fully disclosed on April 22, 2025, covering 98.31% of total assets and 99.94% of total revenue[137]. Shareholder Engagement - The annual shareholders meeting was held on April 22, 2024, with a participation rate of 46.30%[103]. - The first extraordinary shareholders meeting of 2024 was held on November 25, 2024, with a participation rate of 46.68%[103]. - The company conducted multiple investor communications, including a conference call on March 29, 2024, discussing its operational and development status[94].