Enpower(300681)2025-04-22 10:30Financial Performance - The company's operating revenue for 2024 reached ¥2,429,755,341.86, representing a 23.77% increase compared to ¥1,963,149,590.82 in 2023[19] - The net profit attributable to shareholders decreased by 13.79% to ¥71,002,115.80 from ¥82,361,504.08 in the previous year[19] - The net profit after deducting non-recurring gains and losses increased by 23.17% to ¥38,703,462.67, compared to ¥31,422,360.88 in 2023[19] - The total assets of the company at the end of 2024 were ¥5,235,144,375.28, a 26.78% increase from ¥4,129,201,418.57 at the end of 2023[19] - The basic earnings per share decreased by 15.15% to ¥0.28 from ¥0.33 in 2023[19] - The cash flow from operating activities net amount was ¥299,916,950.88, up 15.23% from ¥260,268,766.41 in the previous year[19] - The weighted average return on equity for 2024 was 3.74%, down from 4.63% in 2023[19] - The company reported a significant increase in total equity attributable to shareholders, which rose by 12.65% to ¥2,051,586,667.10 from ¥1,821,146,503.01 in 2023[19] Market and Industry Trends - In 2024, China's automobile production and sales reached 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[29] - New energy vehicle (NEV) production and sales in China reached 12.88 million and 12.87 million units, respectively, with year-on-year growth of 34.4% and 35.5%, accounting for 40.9% of total new car sales[29] - The global market for low-altitude economy is projected to reach 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035[34] Strategic Initiatives and Partnerships - The company signed strategic cooperation agreements with multiple leading eVTOL enterprises in the low-altitude economy sector[34] - The company’s EH216-S became the world's first eVTOL aircraft to obtain type certificate (TC), airworthiness certificate (AC), and production license (PC) in 2024[35] - The company has established long-term partnerships with major automakers such as GAC, Geely, and SAIC, enhancing its market position in the new energy passenger vehicle sector[37] - The company signed strategic cooperation agreements with leading clients in the low-altitude economy sector, including EHang Intelligent[37] Research and Development - The company invested CNY 191.46 million in R&D, accounting for 7.88% of its revenue during the reporting period[65] - As of December 31, 2024, the company holds 189 authorized patents, including 48 invention patents and 136 utility model patents[65] - The company is focusing on high-pressure, miniaturized, lightweight, and integrated power systems to meet industry demands[33] - The company is implementing a platform-based development approach for new energy vehicle power systems, aligning with the technological trends and client needs[55] Production and Sales - The total shipment of power assemblies reached 902,800 units, representing an 85.08% year-on-year increase, while the shipment of electric control and drive assemblies decreased by 18.17% to 697,200 units[42] - Revenue from the new energy vehicle sector (including commercial vehicles) was 206,787.44 million yuan, up 30.15% year-on-year[44] - The sales volume of new energy products increased by 32.70% to 1,172,016 units in 2024, up from 883,203 units in 2023[88] - The company achieved a significant increase in revenue from powertrain assemblies, which rose by 96.72% to ¥1,233,924,280.71, compared to ¥627,239,273.53 in the previous year[86] Financial Management and Governance - The company has established a market value management system and disclosed a valuation enhancement plan[137] - The company strictly adheres to regulatory requirements and continuously improves its corporate governance structure[139] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[143] - The company actively engages in investor relations activities, including online communication platforms for institutional investors[136] Employee and Talent Management - The total number of employees at the end of the reporting period is 2,191, with 1,699 in the parent company and 492 in major subsidiaries[188] - The company has a diverse workforce, with 1,055 production staff, 757 technical staff, and 112 sales staff[188] - The company aims to enhance its compensation structure to attract and retain core talent, focusing on performance-based incentives[189] - The company plans to conduct 105 training sessions in 2024, achieving a 100% completion rate[190] Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥0.30 per 10 shares, based on a total share capital of 255,829,168 shares as of December 31, 2024[4] - The approved cash dividend for 2023 is CNY 0.30 per 10 shares, totaling CNY 7,569,681.24 distributed to shareholders[192] - The cash dividend policy stipulates that at least 10% of the distributable profit for the year will be distributed in cash, with a cumulative distribution of at least 30% over the last three years[192] Future Outlook - The company aims to become a world-class provider of overall solutions in the new energy power domain, focusing on high-quality product offerings to create value for customers[38] - The company plans to expand its market presence with new energy vehicle projects, targeting a completion by 2025[119] - The company is committed to meeting international standards and expanding its presence in overseas markets, particularly in high-pressure engineering vehicle components[96]