SACA(SZ:300464)2025-04-21 13:15Financial Performance - The company achieved operating revenue of RMB 1,509.82 million, a decrease of 7.13% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of RMB 459.82 million, an increase in loss compared to the same period last year[3]. - The loss was primarily due to goodwill impairment loss of RMB 273.88 million, litigation-related provisions of RMB 123.18 million, and an increase in income tax expense of RMB 50.04 million due to the transfer of unamortized loss deferred tax assets[3]. - The company's operating revenue for 2024 was CNY 1,509,823,815.13, a decrease of 7.13% compared to CNY 1,625,698,123.45 in 2023[19]. - The net profit attributable to shareholders for 2024 was a loss of CNY 459,817,346.10, representing a decline of 504.29% from a loss of CNY 76,092,497.39 in 2023[19]. - The total revenue for the year 2024 was 506,987,914 yuan, a decrease of 37.31% compared to 808,701,010.66 yuan in 2023[44]. - Revenue from the Amazon platform decreased by 58.47%, totaling 178,194,886.28 yuan in 2024[43]. - The smart home appliance category generated 236,902,089.67 yuan, down 32.37% from 350,285,122.87 yuan in 2023[44]. - The company reported a net profit attributable to shareholders of -459,817,346.10 yuan for the 2024 fiscal year, with a parent company net profit of -399,778,029.31 yuan[138]. Business Operations - The company's main businesses remain precision hardware and cross-border e-commerce, with no significant adverse changes in core competitiveness[3]. - The company has outlined potential risk factors and countermeasures in its annual report, which investors are advised to pay attention to[4]. - The company maintains that its ability to continue as a going concern is not subject to significant uncertainty[3]. - The company employs an "order-based production" model, supplemented by "stock-based production" to enhance production efficiency[40]. - The company utilizes an ERP system for inventory management, significantly improving stock management and reducing inventory backlog risks[41]. - The company has established a comprehensive quality assurance system from processing to inspection, supporting its automated and intelligent manufacturing capabilities[50]. - The company has implemented a digital management system integrating ERP, PLM, MES, and OA, significantly enhancing operational efficiency[52]. - The company has optimized its cross-border e-commerce strategy, resulting in the divestment of four underperforming subsidiaries to promote healthy business development[55]. Market Trends - The global market for hinges and slides is expected to reach USD 12-15 billion in 2024, with hinges accounting for approximately 60-65% of the market share[29]. - The Asia-Pacific region holds a market share of about 45%-50% in the hinges and slides market, with a growth rate of 5-8% driven by urbanization and consumption upgrades[29]. - The Chinese cross-border e-commerce industry achieved a transaction volume of 1.48 trillion yuan in the first three quarters of 2024, representing a year-on-year growth of 15.2%[32]. - The market is expected to exceed 2.8 trillion yuan for the entire year, reflecting an approximate growth of 17.6% compared to 2023[32]. Research and Development - The company holds a total of 472 effective patents, with 32 new patents obtained in 2024, reflecting its commitment to R&D and innovation[49]. - The company invested CNY 46,446,379.24 in R&D in 2024, an increase from CNY 35,433,630.77 in 2023, but a decrease from CNY 67,048,510.07 in 2022[71]. - The number of R&D personnel increased by 2.34% from 171 in 2023 to 175 in 2024, although the proportion of R&D staff decreased from 13.71% to 11.52%[71]. - The company completed several key R&D projects, including the Z3 three-section sliding rail assembly device, aimed at enhancing automation and reducing labor intervention[70]. - R&D expenditure accounted for 3.08% of operating revenue, up from 2.18% in the previous year[72]. Governance and Compliance - The company has a complete governance structure that aligns with the regulations set by the China Securities Regulatory Commission[107]. - The company emphasizes information disclosure and transparency, ensuring all shareholders can access accurate and timely information[106]. - The company has conducted multiple shareholder meetings, ensuring compliance with legal requirements and maintaining transparency in governance[103]. - The company has established a fair and transparent performance assessment standard for senior management, ensuring compliance with legal regulations[106]. - The company has not reported any penalties from securities regulatory agencies in the past three years, indicating a clean compliance record[120]. Legal Matters - The company is involved in multiple lawsuits with a total amount of approximately 49,589.62 million yuan, which may impact future profits[177]. - The company has submitted a retrial application for a case with a potential profit impact of 7,178.83 million yuan for the year 2024[176]. - The company has indicated that it will continue to pursue legal actions to protect its interests in ongoing disputes[177]. - The company has disclosed that the impact on the 2024 annual profit from ongoing litigation is being assessed[177]. Shareholder Relations - The company plans to not distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the 2024 fiscal year[140]. - The company has established a profit distribution policy that emphasizes long-term and sustainable development, considering shareholder interests and operational needs[139]. - The company has maintained a transparent decision-making process regarding its profit distribution and capital reserve policies[138]. - The participation rate of investors in the annual and temporary shareholder meetings ranged from 38.45% to 39.86% during the reporting period[109][110]. Employee Management - The total number of employees at the end of the reporting period is 1,519, with 141 in the parent company and 1,378 in major subsidiaries[133]. - The company continues to enhance its talent cultivation efforts, implementing a diversified training system to improve employee skills and capabilities[135]. - The company adheres to national labor laws and regulations, ensuring compliance with labor contracts and social security contributions[134]. - The company has established performance indicators and objectives based on annual business plans to refine its employee compensation policies[134]. Environmental and Social Responsibility - The company is committed to environmental protection, complying with national laws and maintaining effective waste management practices[162]. - The company actively participates in community charity initiatives, including donations and support for local elderly care facilities[163].