QJIANG(SZ:000913)2025-04-21 11:15Financial Performance - The company reported a profit distribution plan of 4.00 CNY per 10 shares (including tax) based on a total of 526,611,000 shares[4]. - The company's operating revenue for 2024 reached ¥6,030,882,914.58, an increase of 18.30% compared to ¥5,097,767,420.78 in 2023[19]. - Net profit attributable to shareholders for 2024 was ¥676,738,050.81, representing a 45.84% increase from ¥464,022,361.44 in 2023[19]. - The basic earnings per share for 2024 was ¥1.2946, up 47.01% from ¥0.8806 in 2023[19]. - The total assets at the end of 2024 amounted to ¥10,285,044,093.77, reflecting a 21.50% increase from ¥8,465,106,236.94 at the end of 2023[19]. - The company achieved a revenue of 6.031 billion yuan in 2024, representing a year-on-year growth of 18.30%, with a net profit of 677 million yuan, up 45.84%[47]. - Total revenue for 2024 reached ¥6,030,882,914.5, representing an 18.30% increase from ¥5,097,767,420.7 in 2023[57]. Market Position and Sales - The motorcycle industry in China sold 1,992.28 million units in 2024, with a year-on-year growth of 2.82%[29]. - The export volume of motorcycles reached 1,101.63 million units in 2024, a year-on-year increase of 26.72%[31]. - The export value of motorcycles was $6.981 billion in 2024, representing a 23.8% increase compared to the previous year[31]. - The sales of two-wheeled fuel motorcycles in China were 1,645.62 million units, with a year-on-year growth of 12.99%[29]. - The company ranks 15th in export volume with a share of 2.2%, but ranks 5th in export value at 5.0%, benefiting from optimized product structure, especially in large-displacement products[34]. - The company has maintained the number one market share in China for large-displacement motorcycles (over 250cc) for thirteen consecutive years[42]. - The company sold 45.22 million motorcycles in 2024, a 15.45% increase compared to 39.17 million in 2023[60]. Research and Development - The company emphasizes technological innovation and has a comprehensive R&D system, with significant investments in R&D personnel and facilities, exceeding industry averages[42]. - The company invested 366.45 million yuan in R&D in 2024, accounting for 6.08% of revenue, launching over 30 fuel vehicles and multiple electric vehicles[53]. - The company has completed several key R&D projects aimed at enhancing product safety and performance, including a motorcycle lighting system based on body posture recognition[69]. - The company is developing a new UTV1000 beach vehicle to improve ride comfort and reduce vibrations[69]. - The company is working on a new engine model, the 1P70MM-3, aimed at high performance and low emissions to meet market demands[71]. - The company is focusing on lightweight materials and structural optimization to enhance acceleration performance and fuel economy in new motorcycle models[71]. Corporate Governance - The company held three shareholder meetings, ten board meetings, and eight supervisory board meetings during the reporting period, ensuring compliance with regulations and equal treatment of all shareholders, particularly minority shareholders[140]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no interference in operational decisions[143]. - The company has established a complete and independent financial management system, including independent bank accounts and tax obligations[144]. - The company reported a total of 5,602 staff, with 4,070 in production, 406 in sales, and 723 in technical roles[169][170]. - The company has a unified compensation incentive system aimed at attracting and retaining talent, based on position value and performance[171]. Environmental and Social Responsibility - The company strictly adheres to multiple environmental protection laws and regulations during its operations, including the Environmental Protection Law of the People's Republic of China[193]. - The company has received no administrative penalties related to environmental issues during the reporting period[197]. - The company is actively involved in poverty alleviation and rural revitalization efforts, as outlined in its 2024 ESG report[199]. - The company has implemented measures to reduce carbon emissions, as detailed in its 2024 ESG report[197]. Cash Flow and Financial Management - Operating cash inflow increased by 18.45% year-on-year to ¥7,261,035,177.08, primarily due to higher cash received from sales and tax refunds[76]. - Net cash flow from operating activities surged by 91.74% year-on-year to ¥1,133,247,718.99, reflecting the changes in cash inflows and outflows[77]. - The company's rental liabilities increased by 822.78% compared to the beginning of the year, primarily due to the increase in leased buildings and specialized equipment[83]. - The company's total investments during the reporting period amounted to 98,368,564.55 yuan, representing a 930.00% increase compared to the same period last year[88]. Strategic Initiatives - The company is focusing on expanding its presence in emerging markets, particularly for high-displacement models in Europe and North America[121]. - The company aims to enhance its core competitiveness and maintain technological leadership while expanding its market share in both domestic and international markets by 2025[121]. - The company is exploring potential mergers and acquisitions to facilitate market expansion[148]. - The company plans to submit its 2024 profit distribution proposal for shareholder approval, ensuring protection of minority investors' rights[176].