ZHONGYEDA(SZ:002441)2025-04-22 08:20Financial Performance - The company's operating revenue for 2024 was ¥11,066,933,880.11, a decrease of 7.12% compared to ¥11,914,901,265.97 in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥169,299,945.41, down 33.30% from ¥253,822,429.15 in 2023[21]. - Basic earnings per share decreased by 34.04% to ¥0.31 in 2024, down from ¥0.47 in 2023[21]. - The total profit amounted to ¥238,363,998.25, reflecting a year-on-year decline of 31.70%[48]. - The net profit attributable to shareholders was ¥169,299,945.41, down 33.30% year-on-year[48]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥166,497,232.18, a decrease of 32.27% year-on-year[48]. - The company reported a total of 2,802,713.23 in net profit for 2024, a decrease of 64.9% compared to 7,987,009.10 in 2023[29]. - The company achieved a net profit of ¥257,397,964.89 for the fiscal year 2024, with a consolidated net profit attributable to the parent company of ¥169,299,945.41[164]. Cash Flow and Investments - The cash flow from operating activities increased by 129.08% to ¥706,956,501.93 in 2024, compared to ¥308,608,960.05 in 2023[21]. - Cash inflow from investment activities rose by 81.36% to ¥1,018,077,598.40, while cash outflow increased by 133.20% to ¥1,568,577,165.64[71]. - The net cash flow from investment activities was -¥550,499,567.24, a significant decline from -¥111,261,819.63 in the previous year[71]. - The net cash flow from financing activities was -¥168,466,249.37, showing a 9.56% improvement compared to -¥186,279,947.39 in the previous year[71]. - The net increase in cash and cash equivalents was -¥13,551,088.61, a decline of 219.43% from an increase of ¥11,346,377.28 in the previous year[71]. Assets and Liabilities - Total assets at the end of 2024 were ¥6,782,556,135.56, an increase of 4.09% from ¥6,516,083,796.97 at the end of 2023[21]. - The net assets attributable to shareholders at the end of 2024 were ¥4,561,638,136.60, a slight increase of 0.06% from ¥4,558,834,580.59 at the end of 2023[21]. - Accounts receivable decreased by 29.95% to 834,859,114.30, accounting for 12.31% of total assets, due to improved management and turnover rates[75]. - Inventory decreased by 5.98% to 1,151,009,430, representing 16.97% of total assets, as the company adjusted inventory levels in response to market conditions[75]. - Fixed assets increased to 761,389,224.45, accounting for 11.23% of total assets, due to new acquisitions during the reporting period[76]. - Contract liabilities decreased by 9.58% to 224,525,305.42, representing 3.31% of total liabilities, due to changes in customer agreements[76]. - Lease liabilities increased by 226.04% to 7,483,909.08, accounting for 0.11% of total liabilities, as a result of new lease contracts recognized during the reporting period[76]. Revenue Breakdown - Revenue from the wholesale of energy, materials, and machinery electronic equipment was ¥10.95 billion, accounting for 98.92% of total revenue, down 6.59% year-over-year[51]. - Low-voltage electrical products generated ¥7.05 billion in revenue, representing 63.73% of total sales, a decline of 6.18% from the previous year[50]. - The gross margin for the energy, materials, and machinery electronic equipment wholesale sector was 8.02%, down 1.37% from the previous year[52]. - Revenue from the Northeast region was ¥589.97 million, a decrease of 8.47% compared to ¥644.55 million in 2023[51]. - The Southwest region saw a revenue drop of 22.01%, with total sales of ¥950.64 million compared to ¥1.22 billion in the previous year[51]. - The company reported a significant decline in revenue from electrical machinery and equipment manufacturing, with sales of ¥99.39 million, down 41.04% year-over-year[50]. Strategic Initiatives and Market Outlook - The company plans to distribute a cash dividend of ¥3 per 10 shares (including tax) to all shareholders[5]. - The company is positioned to leverage the growth in demand for smart control systems and industrial robots, particularly in high-precision manufacturing sectors like semiconductors and aerospace[34]. - The company continues to focus on optimizing product structure and expanding quality supply channels to meet customer demands in smart manufacturing and green manufacturing[38]. - The company aims to enhance its international influence by exploring overseas market opportunities and promoting domestic and international business collaboration[38]. - The company plans to continue expanding its market presence and developing new technologies to enhance its product offerings[53]. - The company anticipates that market competition will intensify, leading to a gradual increase in industry concentration and a focus on distributors with national sales networks[94]. - The company plans to expand its presence in third and fourth-tier cities through a nationwide sales and logistics system, enhancing customer service capabilities[97]. Research and Development - R&D expenses decreased by 12.75% to 38,748,369.23, reflecting adjustments based on project progress[64]. - The company has completed the research on a new micro-packaging control system for high-end ready-to-eat soybean products, targeting a market growth rate of 12% per year[65]. - A new type of wall-breaking machine for small particle agricultural products has been developed, achieving a crushing efficiency of ≥97% and energy consumption ≤0.15 kWh/kg, compared to traditional models at ≥0.23 kWh/kg[65]. - The company is focusing on the development of a digital self-healing low-voltage power capacitor to enhance product competitiveness and market share[68]. - The company has completed the technical feasibility verification for a high-reliability intelligent distribution protection switch cabinet, aimed at improving safety and operational efficiency[68]. - Research and development expenditures are projected to increase by 25% in the upcoming year to support innovation[134]. Corporate Governance and Compliance - The company has established a three-year shareholder return plan for 2024-2026, aiming to enhance shareholder value[126]. - The company has revised its governance documents, including the Articles of Association and the decision-making system for related party transactions, to strengthen its corporate governance structure[126]. - The company has not received any administrative regulatory measures from supervisory authorities during the reporting period, indicating a stable compliance status[126]. - The company emphasizes the protection of shareholder and creditor rights by adhering to relevant laws and regulations, ensuring transparency and equal information access for all investors[173]. - The company has maintained a good contractual performance with suppliers and customers, ensuring product quality and reasonable pricing[176]. - The company has been recognized as a "Contract-abiding and Trustworthy Enterprise" in Guangdong Province for several years[176]. Employee and Management - The total number of employees at the end of the reporting period was 3,361, including 353 from the parent company and 3,008 from major subsidiaries[155]. - The employee composition includes 2,579 sales personnel, 323 technical staff, and 70 production workers, reflecting a strong focus on sales[155]. - The company has a training program aimed at continuously updating employee skills and knowledge[158]. - The company has established a performance appraisal system to ensure competitive and stable employee compensation[157]. - The total pre-tax remuneration for the chairman, Wu Kaixian, is 1.22 million yuan[144]. - The total pre-tax remuneration for the general manager, Wu Senjie, is 1.04 million yuan[144]. Future Projections - The company plans to increase total revenue to approximately RMB 1,184.16 million in 2025, representing a 7.00% increase from 2024's actual revenue of RMB 1,106.69 million[110]. - The projected net profit for 2025 is RMB 19.85 million, reflecting a 13.60% increase compared to the 2024 net profit of RMB 17.48 million[110]. - The company plans to implement new strategies for market expansion and product development in the upcoming fiscal year[149]. - The company is considering expanding its Southeast Asian business through its subsidiary, focusing on markets like Malaysia, Thailand, and Indonesia[153].