ADD(SH:603089)2025-04-22 10:30Financial Performance - The company's operating revenue for 2024 reached ¥2,302,952,314.87, representing a 30.98% increase compared to ¥1,758,214,816.30 in 2023[19]. - The net profit attributable to shareholders of the listed company was ¥71,463,218.51, up 21.39% from ¥58,870,743.54 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥64,231,520.68, reflecting a 22.19% increase from ¥52,567,271.33 in 2023[19]. - The cash flow from operating activities amounted to ¥125,918,563.16, a decrease of 56.22% compared to ¥287,588,608.49 in the previous year[19]. - The total assets of the company increased by 26.88% to ¥3,494,069,248.36 from ¥2,753,830,944.17 in 2023[19]. - The net assets attributable to shareholders of the listed company were ¥1,231,695,724.06, a 6.41% increase from ¥1,157,532,338.58 in the previous year[19]. - Operating profit reached 112,340,000 RMB, reflecting a year-on-year growth of 36.38%[51]. - The cost of sales increased to 1,747,742,784.83 RMB, a rise of 31.26% year-on-year, primarily due to capacity release and business scale growth[54]. - Research and development expenses rose to 110,606,218.11 RMB, marking a 36.17% increase as the company continued to enhance its R&D investment[54]. - The company maintained a stable gross margin of 24.02% in the automotive parts sector, with a slight decrease of 0.16 percentage points year-on-year[57]. Market Strategy and Expansion - The company has begun mass production of key components such as high-precision stamping parts and electromagnetic valves, enhancing production autonomy[28]. - The smart manufacturing base in Thailand has commenced operations, aimed at improving international competitiveness and market share[29]. - The company is focusing on the high-end intelligent suspension system for new energy vehicles, anticipating significant growth in demand for high-end shock absorbers[30]. - The company is expanding its domestic market presence by collaborating with multiple automotive parts platform operators to enhance service quality[30]. - The company has established a strategic alliance with global automotive parts manufacturers, facilitating a dual-cycle growth model between domestic and international markets[30]. - The company has established overseas logistics centers and offices in Brazil and Europe to enhance international market expansion and provide localized services[31]. - The company aims to leverage its technology in high-end electronic control suspension systems to capitalize on the growing demand for smart components in new energy vehicles[37]. - The company plans to enhance its R&D capabilities, focusing on high-tech and high-value products, particularly in intelligent electric suspension systems[93]. - The company will expand its market share by promoting both domestic and international market strategies, focusing on high-end vehicle components[96]. Research and Development - The company has invested in R&D, achieving multiple patent products and successfully mass-producing several high-end shock absorbers during the reporting period[32]. - The company has developed a multi-layered R&D management system and obtained CNAS laboratory accreditation to enhance product quality verification[46]. - The company conducted 52 R&D projects during the reporting period, focusing on advanced technologies such as air springs and adjustable shock absorbers[69]. - The company expanded its R&D team by 119 personnel, a 30.59% increase year-on-year, enhancing its innovation capabilities[70]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[5]. - The company faces risks from a prolonged global economic downturn, which could slow the growth of global automotive ownership and impact product sales[98]. - Currency fluctuation risks are significant due to the company's reliance on exports, with major settlements in USD and EUR, potentially leading to substantial exchange losses[99]. - Raw material price volatility poses a risk to the company's gross margin if product prices cannot be adjusted timely[100]. - Trade barriers in importing countries could adversely affect the company's export business and competitiveness in overseas markets[101]. - Product quality control is critical, as any significant quality issues could lead to economic losses and damage the company's brand reputation[103]. Corporate Governance - The company adheres to legal and regulatory requirements in corporate governance, ensuring a clear structure and effective checks and balances[106]. - The board of directors consists of 7 members, including 3 independent directors, fulfilling legal requirements and ensuring responsible decision-making[107]. - The company actively engages with investors through various channels to enhance communication and protect investor interests[108]. - The company has established a complete and effective internal control system, ensuring compliance and asset security during the reporting period[137]. - There were no significant or important defects in internal control over financial and non-financial reporting during the reporting period[138]. Environmental Responsibility - The company invested approximately 4.069 million yuan in environmental protection during the reporting period[141]. - The company and its wholly-owned subsidiary, Ningbo Hongyu, were listed as environmental risk monitoring units, emphasizing their commitment to pollution prevention[142]. - The company has implemented various pollution control measures, including standards for wastewater, waste gas, noise, and solid waste management[146]. - The company has installed monitoring devices at major wastewater and air emission points, ensuring stable compliance with discharge standards, and has obtained pollution discharge permits with specific permit numbers[148]. - The company adheres to ISO 14001 environmental management standards, conducting regular monitoring of harmful factors such as waste gas and wastewater to ensure compliance[151]. Shareholder and Financial Commitments - The company plans to issue stock to specific targets with a total financing amount not exceeding RMB 250 million, which is less than 20% of the net assets at the end of the previous year[174]. - The company has committed to not transferring benefits to other entities or individuals unfairly and to restrict personal consumption behavior related to their positions[160]. - The company has made a long-term commitment to avoid any business competition with its subsidiaries, ensuring no direct or indirect competition with the issuer's operations[159]. - The company has committed to conducting all related transactions at fair market conditions, avoiding any preferential treatment that could harm the issuer's interests[159]. - The company has committed to fulfilling its obligations regarding compensation for any losses caused to investors due to breaches of commitments[160].