Eastcompeace(SZ:002017)2025-04-22 13:25Financial Performance - The company's operating revenue for 2024 was CNY 1,384,633,654.10, representing a slight increase of 0.18% compared to CNY 1,382,174,502.45 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 189,810,096.23, an increase of 10.46% from CNY 171,843,425.06 in 2023[23]. - The net profit after deducting non-recurring gains and losses was CNY 174,129,834.55, up 13.81% from CNY 152,999,056.39 in 2023[23]. - The basic earnings per share for 2024 was CNY 0.3270, reflecting a growth of 10.44% compared to CNY 0.2961 in 2023[23]. - The weighted average return on equity for 2024 was 11.14%, an increase of 0.26 percentage points from 10.88% in 2023[24]. - The total assets at the end of 2024 were CNY 2,982,741,663.71, a 0.49% increase from CNY 2,968,212,165.58 at the end of 2023[24]. - The net assets attributable to shareholders at the end of 2024 were CNY 1,746,042,743.15, up 5.65% from CNY 1,652,714,151.23 at the end of 2023[24]. - The net cash flow from operating activities for 2024 was CNY 196,928,774.97, a decrease of 17.61% compared to CNY 239,019,348.87 in 2023[23]. Market and Business Development - The global smart card market sales reached USD 18.83 billion in 2023, with a projected CAGR of 3.5% from 2023 to 2030, highlighting robust growth potential[33]. - The digital economy in China is expected to exceed CNY 60 trillion by 2025, with a significant increase in efficiency, indicating a strong market for digital identity solutions[34]. - The company aims to become a global leader in digital identity security products and solutions, focusing on innovation and industry upgrades[39]. - The company has shipped over 10 billion smart cards, establishing itself as a leader in the domestic smart card and digital identity security sector[38]. - The company actively participates in the construction of social security card services, enhancing public service efficiency and convenience[43]. Product and Technology Innovation - The introduction of quantum secure SIM cards and blockchain SIM cards reflects the company's commitment to enhancing security in its product offerings[42]. - The company’s embedded operating system platform is the first in the industry to receive GSMA security certification, showcasing its unique core technology advantage in the digital identity field[51]. - The company is focusing on developing a digital identity cloud platform to enhance service capabilities and integrate existing products[67]. - The company aims to strengthen its digital identity security solutions for IoT applications, enhancing product competitiveness in the market[68]. - The company is committed to driving innovation in the digital identity security sector, integrating artificial intelligence to create new growth opportunities[92]. Financial Management and Investments - The company reported a total of RMB 404,649,421.92 raised from issuing 100,160,748 shares at RMB 4.04 per share, with a net amount of RMB 395,296,319.87 after expenses[78]. - As of December 31, 2024, the company has utilized RMB 75,592,304.55 of the raised funds, leaving a balance of RMB 328,736,931.43 that remains unutilized[79]. - The company has committed to several investment projects, including NB IoT technology, with a total investment amount of RMB 1.75 million planned for 2019[81]. - The company has not utilized any of the raised funds for supplementary working capital or loan repayments[81]. - The company plans to seek new investment projects related to its main business for the unused raised funds, following necessary approval procedures[83]. Governance and Compliance - The company maintains a fully independent operation from its controlling shareholder, with no reliance on related party transactions for business profits[112]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[110]. - The company’s governance practices align with legal and regulatory requirements, with no significant discrepancies noted[111]. - The internal control system has been effectively implemented, ensuring compliance with laws and regulations, and safeguarding the interests of the company and its shareholders[157]. - There were no significant defects identified in the internal control system during the reporting period[161]. Employee and Management Structure - The total number of employees at the end of the reporting period is 1,471, with 1,297 from the parent company and 174 from major subsidiaries[147]. - The professional composition includes 690 production personnel, 123 sales personnel, 468 technical personnel, 36 financial personnel, and 154 administrative personnel[147]. - The company has established a multi-level and multi-dimensional compensation and benefits system to attract and retain valuable talent, aligning with market conditions[149]. - The training program emphasizes employee growth and development, offering diverse training opportunities across various fields[150]. - The management team is composed of individuals with significant industry experience and educational qualifications[123]. Shareholder and Dividend Policy - The company plans to distribute a cash dividend of 1.64 CNY per 10 shares, totaling 95,190,833.08 CNY, based on a total share capital of 580,431,909 shares as of December 31, 2024[155]. - The cash dividend distribution accounts for 100% of the total distributable profit of 601,099,643.94 CNY[153]. - The company has not proposed any stock dividends and will retain the remaining undistributed profits for future periods[155]. - The company has committed to distributing at least 30% of the average distributable profit over a three-year period in cash[171]. - The company will ensure that cash dividends distributed in cash will not be less than 10% of the distributable profit for the year, provided there are no major investment plans or cash expenditures[171].