Company Overview - Sheng Ye Electric was certified as a national "specialized and innovative" small giant enterprise in July 2024[6]. - The company officially listed on the Beijing Stock Exchange on November 29, 2024, after receiving approval from the China Securities Regulatory Commission[6]. - The company operates in the manufacturing sector, specifically in the electrical machinery and equipment manufacturing industry[20]. - The company has a registered capital of RMB 60.49 million, with a total share capital of 81.19 million shares[20]. - The actual controller of the company is Wei Guofeng, along with He Richeng, and they are associated with several investment partnerships[21]. Financial Performance - The company reported a revenue of ¥633,947,095.38 for 2024, representing a year-over-year increase of 10.69% compared to ¥572,725,845.79 in 2023[30]. - The net profit attributable to shareholders was ¥47,972,912.28, reflecting a growth of 5.72% from ¥45,378,268.51 in the previous year[30]. - The total assets increased by 42.44% to ¥871,229,686.48 from ¥611,649,344.66 in 2023[31]. - The company's total liabilities rose by 16.19% to ¥346,690,218.69 compared to ¥298,388,339.06 in the prior year[31]. - The weighted average return on equity based on net profit was 13.75%, down from 15.65% in 2023[30]. - The basic earnings per share increased by 3.16% to ¥0.77 from ¥0.75 in the previous year[30]. - The company achieved a historical high in both operating revenue and net profit for 2024, completing annual targets successfully[58]. Share Issuance and Capital Structure - The company raised a total of RMB 164.16 million through the issuance of 18 million shares at a price of RMB 9.12 per share, with a net amount of RMB 139.55 million after deducting issuance costs[23]. - The total share capital increased from 60.49 million shares to 78.49 million shares following the public offering[23]. - The company completed the issuance of 2.7 million additional shares, raising a net amount of ¥22,875,760.76[24]. - The company has issued 20,700,000 new shares, increasing total shares from 60,490,000 to 81,190,000, following approval from regulatory authorities[126]. Research and Development - The company is focusing on the renewable energy sector, increasing R&D and customer expansion in this area[51]. - The company has successfully developed several new products, including high-capacity DC support capacitors and automotive capacitors[56]. - R&D expenditure amounted to ¥26,478,113.31, representing 4.18% of operating revenue, a slight decrease from 4.43% in the previous year[91]. - The number of R&D personnel increased from 95 to 98, with the proportion of R&D staff to total employees slightly rising from 10.80% to 10.94%[92]. Market Position and Strategy - The company aims to respond promptly to downstream customer demands for high-performance capacitors, leveraging its brand and technical advantages[51]. - The company has established long-term stable partnerships with several well-known enterprises, ensuring sustained profitability[51]. - The company is actively seizing policy opportunities to expand its business scale in response to the growing demand in the industry[187]. - The company plans to expand its market share in the energy quality management sector by enhancing its channel network and gradually advancing overseas business[106]. Operational Efficiency - The company’s inventory turnover ratio improved to 4.51 from 3.83 in the previous year[32]. - Cash and cash equivalents increased by 362.12% to CNY 240.40 million, representing 27.59% of total assets by the end of 2024[62]. - Accounts receivable rose by 25.73% to CNY 231.85 million, accounting for 26.61% of total assets[63]. - The company is closely monitoring raw material prices to mitigate risks associated with cost fluctuations and maintain profit margins[112]. Corporate Governance and Shareholder Relations - The company has established a comprehensive corporate governance structure to ensure shareholders' rights and information disclosure obligations are met[104]. - The company has a profit distribution policy emphasizing stable returns to investors while ensuring sustainable development[148]. - The board of directors must complete the distribution of dividends within 2 months after the shareholders' meeting[159]. - Independent directors can gather opinions from minority shareholders and propose dividend plans directly to the board[156]. Industry Trends and Outlook - The demand for film capacitors is experiencing significant growth due to the surge in wind and solar power installations, new energy vehicle sales, and home appliance upgrades[187]. - The global photovoltaic market is expected to add 451.94 GW of new capacity in 2024, representing a year-on-year growth of 28.13%, with a cumulative capacity of about 1,858 GW[192]. - The global demand for capacitors in energy storage systems is increasing due to the need for stabilizing renewable energy outputs, with capacitors being key components in power conversion systems[195]. - By 2030, the total installed capacity of wind and solar power is expected to exceed 1.2 billion kilowatts, focusing on large-scale development in key areas[183].
胜业电气(920128) - 2024 Q4 - 年度财报