TODAYTEC(SZ:300743)2025-04-21 14:30Financial Performance - The company's operating revenue for 2024 reached ¥763,246,752.25, representing an 18.50% increase compared to ¥644,112,920.16 in 2023 [5]. - Net profit attributable to shareholders for 2024 was ¥92,364,405.75, a significant increase of 66.00% from ¥55,641,569.82 in 2023 [5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥93,369,492.16, up 88.56% from ¥49,515,858.42 in 2023 [5]. - The total assets of the company at the end of 2024 were ¥1,062,016,832.36, reflecting a 16.28% increase from ¥913,357,319.62 at the end of 2023 [5]. - The basic earnings per share for 2024 increased to ¥0.62, a rise of 55.00% compared to ¥0.40 in 2023 [5]. - The company reported a decrease in cash flow from operating activities, with a net cash flow of ¥98,270,157.11, down 15.41% from ¥116,175,035.82 in 2023 [5]. - The company's gross profit margin improved due to optimized resource allocation and increased production efficiency, contributing to a rise in sales gross margin [83]. - The company's domestic revenue reached ¥301,275,717.56, up 28.94% from the previous year, while overseas revenue was ¥461,971,034.69, a 12.55% increase [90]. - The revenue from thermal transfer ribbons reached approximately ¥686.78 million, showing a year-on-year increase of 37.42% [93]. - The sales volume of thermal transfer ribbons was 176,974.28 million square meters, up 22.87% compared to the previous year [94]. - The production volume of thermal transfer ribbons increased by 33.15% to 185,160.19 million square meters, driven by higher sales orders [94]. Research and Development - The total R&D investment for 2024 was ¥26,356,800, marking an 18.09% increase year-on-year [84]. - The company has increased its R&D efforts in high-end products like mixed and resin-based ribbons, achieving market recognition and expanding its market share [40]. - The company has a strong R&D team that has led to significant innovations, including the development of mixed and resin-based products, enhancing its competitive edge in the market [72][73]. - The company will continue to strengthen research and development efforts, particularly in wax-based, mixed, and resin-based thermal transfer ribbon products, to meet market demands and industry trends [136]. - The number of R&D personnel increased to 66 in 2024, a rise of 4.76% from 63 in 2023 [102]. - Research and development expenses increased by 18.09% to ¥26.36 million, mainly due to higher personnel costs and material usage [99]. Market Position and Strategy - The company is positioned within the rapidly growing sectors of IoT, industrial manufacturing, and smart logistics, driven by advancements in automation and digitalization [33]. - The company is a leading national high-tech enterprise specializing in the research, production, and sales of thermal transfer ribbons, having developed barcode printing thermal transfer ribbons as one of the first in the country [51]. - The company has established subsidiaries in countries such as the USA, UK, Canada, India, Mexico, Brazil, France, Vietnam, and Thailand, enhancing its global presence and competitive advantage [51]. - The company aims to enhance its financing capabilities by diversifying funding channels to support strategic development and achieve rapid growth [144]. - The company has made strategic international expansions, establishing subsidiaries in key markets such as the US, UK, and India, enhancing its global presence [80]. - The company plans to invest in the construction of a production line with an annual capacity of 230 million square meters of intelligent recognition materials, reallocating funds from previously planned projects due to inefficiencies in fund usage [129]. Governance and Management - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements [156]. - The supervisory board has 3 members, including 1 employee representative, meeting relevant legal standards [157]. - The company has a performance evaluation and incentive mechanism for directors and senior management, ensuring transparency and fairness [157]. - Independent directors have actively participated in board meetings and have not raised objections to any proposals during the reporting period [158]. - The company has maintained a complete and independent governance structure since its establishment [155]. - The company ensures equal rights for all shareholders, particularly minority shareholders, during general meetings [156]. - The company has established specialized committees under the board to enhance governance practices [157]. - The company has adhered to relevant laws and regulations in its operations and governance practices [155]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, which significantly impact its cost structure and gross margin, and plans to adjust sales strategies accordingly [145]. - There is a risk of core technology leakage and loss of key personnel, which could hinder innovation; the company is implementing training and incentive programs to mitigate this risk [146]. - The company is exposed to international trade risks due to its significant overseas sales, and it is actively diversifying its market presence to enhance resilience [147]. - Currency exchange rate fluctuations pose a risk to the company's overseas revenue, and it is engaging in hedging activities to manage this risk [149]. - Following acquisitions, the company has a substantial amount of goodwill on its balance sheet, which could be impaired if acquired companies underperform; management is focused on integration and support [150]. Employee and Organizational Structure - The total number of employees at the end of the reporting period was 674, with 383 in the parent company and 291 in major subsidiaries [194]. - The employee composition includes 347 production personnel, 164 sales personnel, 66 technical personnel, 26 financial personnel, and 71 administrative personnel [194]. - The company has established a salary system that combines basic salary and performance bonuses, aligning employee interests with company performance [195]. - The company emphasizes internal training through its "Tian Di Academy," aiming to enhance employee skills and organizational adaptability [196]. - The company has a clear organizational structure with defined roles and responsibilities, ensuring independent operation of all functional departments [161]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 5.0 RMB per 10 shares (including tax) to all shareholders based on the total share capital as of the dividend record date [5]. - The company announced a cash dividend of 3.50 RMB per 10 shares, totaling 75,620,249.50 RMB for the fiscal year 2023 [198]. - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of 128,349,424.79 RMB [200]. - The company has adhered to its cash dividend policy in accordance with its articles of association and relevant regulations [199]. - The cash dividend distribution was completed on June 14, 2024, following the announcement on June 5, 2024 [198].