FORTUNE(603173)2025-04-21 10:45Financial Performance - The company's operating revenue for 2024 reached ¥2,418,875,053.81, representing a 12.20% increase compared to ¥2,155,788,850.03 in 2023 [25]. - Net profit attributable to shareholders for 2024 was ¥261,162,961.95, a significant increase of 36.63% from ¥191,146,813.80 in 2023 [25]. - Basic earnings per share for 2024 increased by 33.61% to ¥1.63, compared to ¥1.22 in 2023 [26]. - The weighted average return on equity rose to 16.90% in 2024, an increase of 2.32 percentage points from 14.58% in 2023 [26]. - Total assets at the end of 2024 were ¥5,298,815,786.98, reflecting a 20.51% increase from ¥4,397,161,854.59 in 2023 [25]. - The net assets attributable to shareholders increased by 11.91% to ¥1,626,709,295.36 at the end of 2024, compared to ¥1,453,554,800.99 at the end of 2023 [25]. - The gross profit margin was 23.37%, reflecting a year-on-year increase [33]. - The company reported a net profit of ¥65,675,301.47 in Q1 2024, with total revenue for the quarter at ¥351,516,519.70 [30]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.50 per share (including tax), totaling RMB 79,208,250.00 based on a total share capital of 160,000,000 shares, after deducting 1,583,500 shares held in the repurchase account [8]. - The cash dividend represents 30.33% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is approximately 261.16 million RMB [130]. - The cumulative cash dividend amount over the last three accounting years is 79.21 million RMB, with an average net profit of 261.16 million RMB, maintaining a cash dividend ratio of 30.33% [132]. - The company has established a cash dividend policy that requires a minimum distribution of 10% of the distributable profit each year, with higher percentages based on the company's development stage and capital expenditure plans [125]. Corporate Governance - The company has a comprehensive governance structure with all board members present at the board meeting [6]. - The board of directors consists of 7 members, including 3 independent directors, meeting legal requirements for governance structure [94]. - The company held 1 shareholders' meeting during the reporting period, ensuring compliance with relevant regulations to protect shareholders' voting rights [94]. - The supervisory board held 4 meetings, ensuring oversight of the board's activities and protecting shareholder interests [96]. - The independent directors actively participated in meetings and provided objective assessments of financial reports and risk management [95]. Strategic Development - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [27]. - The company aims to become a globally leading provider of deep cooling system solutions by 2025, focusing on expanding market share through dynamic marketing strategies and service systems [85]. - The company is committed to innovation through the "Three New Projects" (new products, new operations, new breakthroughs) and will increase R&D investment to explore new growth opportunities, particularly in natural gas processing and hydrogen production [86]. - The company is focusing on expanding its market presence and enhancing product offerings through new technology development [100]. Research and Development - The company has a strong talent pool and a well-established R&D team, enhancing its competitive advantage in the industry [49]. - The total R&D expenditure was ¥96,658,159.51, which accounted for 4.00% of operating revenue, with no capitalized R&D costs [67]. - The company employed 194 R&D personnel, accounting for 22.22% of total employees, with a majority holding bachelor's degrees [68]. - The company holds 68 patents, including 16 invention patents and 52 utility model patents as of December 31, 2024 [50]. Market Position and Competition - The company has established itself as a competitive player in the deep cooling equipment sector, focusing on large-scale and high-end product development [44]. - The company successfully expanded into new international markets, establishing partnerships with top European engineering firms and achieving significant project milestones [34]. - The company signed new contracts worth approximately 4 billion yuan during the reporting period, remaining stable compared to the previous year [33]. Risk Management - The company acknowledges the risk of fluctuating gross margins due to the customized nature of its products, which can vary based on project income and costs [89]. - The company is facing risks from macroeconomic conditions, including potential slowdowns in domestic and overseas markets, which could impact order acquisition and operational performance [88]. - The company is closely monitoring international political and economic conditions, as changes could adversely affect its overseas market operations and project implementations [92]. Compliance and Regulatory Matters - The company has implemented a robust internal control system, ensuring the accuracy and completeness of financial reporting, with no significant deficiencies reported [135]. - The company has disclosed all related party transactions as required by securities regulatory laws and regulations [146]. - The company received a warning from the China Securities Regulatory Commission regarding a short-term trading violation by a former financial director's son [161]. Shareholder Information - The largest shareholder, Hangzhou Fusi Da Holdings, holds 95,715,000 shares, accounting for 59.82% of the total shares [182]. - The number of shareholders decreased from 10,516 to 9,881 during the reporting period [180]. - The number of restricted shares released for circulation is 9,540,000, representing 5.96% of the total share capital, effective from January 30, 2024 [178]. Environmental and Social Responsibility - The company has invested a total of 1.41 million RMB in environmental protection during the reporting period, demonstrating its commitment to social responsibility [137]. - The company has received various honors, including "Green Factory" and "Digital Workshop" titles, reflecting its efforts in sustainable development and environmental management [139]. - The company aims to continue promoting energy conservation and emission reduction as a core strategy, with digital construction as an accelerator for enhancing environmental work in 2025 [141].