DETC(SH:600081)2025-04-21 13:40Financial Performance - The company achieved operating revenue of CNY 6,809,747,099.15 in 2024, a decrease of 4.98% compared to 2023 [24]. - The net profit attributable to shareholders was CNY 91,276,152.49, down 37.05% year-on-year [24]. - Basic earnings per share decreased by 44.05% to CNY 0.1608 [32]. - The company reported a net cash flow from operating activities of CNY 420,849,859.99, an increase of 12.17% compared to the previous year [24]. - The weighted average return on equity decreased to 1.9463%, down from 3.9749% in 2023 [24]. - Total assets at the end of 2024 were CNY 10,098,517,204.61, a decrease of 6.24% from the previous year [24]. - The main business revenue from automotive parts production and sales was ¥6,091,603,924.90, a decrease of 9.72% year-on-year [47]. - The gross margin for the automotive parts segment decreased by 0.87 percentage points to 10.09% [47]. - The total revenue for the current period is approximately ¥5.68 billion, a decrease of 7.66% compared to ¥6.15 billion in the same period last year [50]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.05 per share, totaling RMB 27,651,308.50, which accounts for 30.29% of the net profit attributable to the parent company for the year [6]. - The total share capital as of December 31, 2024, is 553,026,170 shares, which will be the basis for the dividend distribution [6]. - The proposed cash dividend for 2023 is 0.70 RMB per 10 shares, based on a total share capital of 578,343,529 shares [145]. - The total cash dividend amount for 2023 is 27,651,308.50 RMB, representing 30.29% of the net profit attributable to ordinary shareholders [147]. - The cumulative cash dividend and repurchase amount over the last three accounting years is 101,061,306.45 RMB, with an average net profit of 115,002,406.85 RMB, resulting in a cash dividend ratio of 87.88% [150]. - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares for 2024, based on a total share capital of 553,026,170 shares [145]. Audit and Compliance - The company has received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm [5]. - The financial report is prepared in accordance with the relevant regulations and reflects the company's actual financial status [5]. - The company has confirmed that all board members can guarantee the authenticity, accuracy, and completeness of the annual report [8]. - The company has established an internal control management method to enhance internal control systems and compliance management [151]. - The internal control audit report received a standard unqualified opinion, indicating no significant issues were found [153]. - The company maintained effective internal controls across all significant aspects of financial and non-financial reporting, with no major deficiencies reported in subsidiary management [152]. Risk Management - There are no significant risks or non-operational fund occupation by controlling shareholders or related parties reported [8]. - The company has not disclosed any major risk warnings in the report [9]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a substantive commitment to investors [7]. - The company acknowledges the potential impact of environmental regulations on operational costs, necessitating increased investment in environmental protection [104]. - The automotive industry is facing risks from macroeconomic changes, including fluctuating vehicle sales and international trade tensions [96][98]. - The company recognizes the influence of macroeconomic conditions and investor sentiment on stock price volatility, advising investors to be aware of these risks [103]. Research and Development - Research and development expenses increased, contributing to the decline in net profit and earnings per share [25]. - The company has a total of 580 patents, including 312 invention patents, indicating strong R&D capabilities [38]. - The company operates six technology centers and employs 607 R&D personnel, enhancing its innovation capacity [38]. - Research and development expenses increased by 10.64% to ¥345,195,492.28, reflecting the company's commitment to innovation [42]. - The company is focusing on strategic emerging businesses, including integrated die-casting and intelligent cockpit systems, to drive transformation and upgrade [94]. - The company is exploring innovative solutions that match market demand for new technologies and products [94]. Corporate Governance - The company held 5 shareholder meetings, 8 board meetings, and 12 specialized committee meetings during the reporting period, indicating active governance practices [107]. - The company emphasizes the need for dynamic procurement strategies and supply chain diversification to build resilience against raw material price volatility and geopolitical risks [101]. - The board of directors includes specialized committees such as the audit committee, nomination committee, compensation and assessment committee, and strategic committee [129]. - The company is committed to maintaining operational stability during the transition of supervisory board members [115]. - The company has a diverse board with independent directors contributing to its governance and oversight [113]. - The company is focused on ensuring compliance with the legal minimum number of supervisory board members following the resignation of Yu Xiang [115]. Environmental Management - The company has implemented a robust environmental management mechanism, ensuring compliance with environmental standards [154]. - The company invested approximately 4.58 million RMB in environmental protection during the reporting period [154]. - The company effectively managed solid waste, with hazardous waste such as waste oil and waste activated carbon being disposed of by authorized companies [166]. - The company’s wastewater discharge from Dongfeng (Shiyan) Nonferrous Casting Co., Ltd. totaled 36,166 tons, with actual COD at 283.8 mg/L, exceeding the limit of 500 mg/L [168]. - The company has established emergency response plans for environmental incidents, with no reported incidents in the past year for both Suzhou and Shiyan facilities [194][196]. - Environmental monitoring is conducted annually by third-party agencies, with Suzhou Dongfeng using Suzhou University Health and Environment Technology Research Co., Ltd. and Shiyan Dongfeng using Hubei Guke Testing Co., Ltd. [198][200].