Hexing(SH:603556)2025-04-21 14:30Profit Distribution and Financial Performance - The profit distribution plan for 2024 proposes a cash dividend of RMB 7.00 per 10 shares (including tax) to all shareholders, with no bonus shares or capital reserve conversion into shares[7]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in Q3 2023, representing a 15% year-over-year growth[92]. - The total distributable profit of CNY 3,558,994,307.21 as of December 31, 2023, with a proposed cash dividend of CNY 11.00 per 10 shares[113]. - The cash dividend for 2023 represents 33.97% of the net profit attributable to ordinary shareholders, which is RMB 1,002,037,975.68[120]. - The net profit for 2024 was CNY 1,002,409,658.99, a rise of 2.5% from CNY 982,280,741.31 in 2023[196]. - The company's operating revenue for 2024 reached CNY 4,717,025,665.84, an increase of 12.3% compared to CNY 4,200,350,318.37 in 2023[195]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming Accounting Firm[6]. - The financial report is guaranteed to be true, accurate, and complete by the responsible persons of the company[6]. - The company has established a comprehensive internal control system, with no significant deficiencies reported during the reporting period[126]. - The internal control audit report issued by Ernst & Young Huaming confirmed the effectiveness of the company's internal controls with a standard unqualified opinion[128]. - The audit identified the high proportion of overseas sales revenue as a key audit matter due to the complexity of revenue recognition across different contracts[178]. Revenue and Growth - The company's operating revenue for 2023 reached ¥4,717,025,665, representing a year-on-year increase of 12.30% compared to ¥3,309,723,564.37 in 2022[23]. - The smart distribution and utilization business generated 4.535 billion RMB in revenue, a 13.35% increase year-on-year[33]. - Overseas revenue in the smart distribution business was 2.940 billion RMB, growing by 9.77%[33]. - Domestic revenue in the smart distribution business reached 1.595 billion RMB, a significant increase of 20.61%[33]. - The company's total revenue reached 4.717 billion RMB, a year-on-year increase of 12.30%[32]. Research and Development - The company's R&D expenses increased by 13.42% to approximately ¥310.88 million, up from ¥274.09 million in the previous year[50]. - Research and development investments have increased by 25%, focusing on innovative technologies in the energy sector[92]. - The number of R&D personnel is 829, making up 26% of the total workforce[61]. - Research and development expenses for 2024 were CNY 310,883,803.18, an increase from CNY 274,088,605.86 in 2023, reflecting a growth of 13.4%[195]. Governance and Board Activities - All board members attended the board meeting, ensuring full participation in decision-making[5]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant regulations and effective governance[83]. - The company held six board meetings during the year, with one in-person meeting and five combining in-person and communication methods[103]. - The company held its annual general meeting on May 10, 2024, where all proposed resolutions were approved[88]. - The company has established specialized committees within the board, including an audit committee, nomination committee, compensation and assessment committee, and strategic committee[104]. Financial Position and Assets - The total assets as of the end of 2023 amounted to ¥9,478,317,442, showing a 4.40% increase from ¥8,045,699,626.82 in 2022[23]. - The company's total liabilities decreased to CNY 1,585,585,484.12 in 2024 from CNY 1,858,539,749.25 in 2023, a reduction of 14.7%[193]. - The company's equity attributable to shareholders increased to CNY 7,121,469,162.43 from CNY 6,632,579,097.99, marking an increase of approximately 7.4%[189]. - The company's inventory increased slightly from CNY 763,291,659.25 in 2023 to CNY 806,797,515.17 in 2024, reflecting a growth of approximately 5.7%[187]. Strategic Initiatives and Future Plans - The company aims to enhance its digital transformation and AI technology application across all business processes to improve efficiency[75]. - The company plans to expand its smart water business as a new growth point for performance[75]. - The company is exploring strategic acquisitions to enhance its product portfolio and market reach, with a budget of 200 million allocated for potential deals[92]. - The company plans to implement a training program focused on technological innovation, business expansion, smart manufacturing upgrades, and talent development for 2024[111]. Shareholder Relations and Transparency - The company has a dedicated investor relations team to ensure timely and accurate disclosure of significant information, enhancing transparency and communication with investors[85]. - The company held 1 shareholders' meeting during the reporting period, ensuring all shareholders, especially minority shareholders, could exercise their voting rights[82]. - The company maintains independence from its controlling shareholder in terms of operations, personnel, and finances, ensuring a complete and autonomous business system[84]. - The company has proposed to use part of its idle funds for cash management, reflecting a strategy to optimize asset utilization[90].