江苏雷利(300660) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥3,519,257,596.26, representing a 14.38% increase compared to ¥3,076,707,472.65 in 2023[24]. - Net profit attributable to shareholders decreased by 7.14% to ¥294,493,288.77 in 2024 from ¥317,127,451.53 in 2023[24]. - The cash flow from operating activities showed a significant decline of 47.19%, totaling ¥300,636,020.23 in 2024 compared to ¥569,255,669.68 in 2023[24]. - Basic earnings per share decreased by 7.78% to ¥0.9255 in 2024 from ¥1.0036 in 2023[24]. - Total assets increased by 11.88% to ¥6,440,954,009.96 at the end of 2024, up from ¥5,757,190,513.47 at the end of 2023[24]. - The company reported a net profit of ¥73,038,449.66 in Q1 2024, with a total revenue of ¥721,648,380.42 for the same quarter[26]. - The company received government subsidies amounting to ¥17,734,715.06 in 2024, down from ¥30,812,599.86 in 2023[30]. - The weighted average return on equity decreased to 8.83% in 2024 from 10.04% in 2023[24]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥300,592,464.49, a 3.53% increase from ¥290,356,063.97 in 2023[24]. - The company reported a total net profit of -¥6,099,175.72 from non-recurring gains and losses in 2024, compared to ¥26,771,387.56 in 2023[30]. Revenue Breakdown - Revenue from automotive components grew by 30.42% year-on-year, reaching 612 million yuan, driven by the mass production of new energy vehicle products[33]. - The company reported a 24% increase in sales revenue for industrial control motors and components, totaling 419 million yuan[34]. - The home appliance segment saw a revenue increase of 12.75% year-on-year, recovering from previous demand lows[34]. - The revenue from household appliance motors and components was ¥2,158,846,317.05, accounting for 61.34% of total revenue, with a growth of 12.75% year-on-year[51]. - The automotive motors and components segment saw a significant increase of 30.42%, generating ¥612,068,680.71 in revenue, which is 17.39% of total revenue[52]. - The medical device sector's sales revenue increased by 2.71% year-on-year, indicating a gradual recovery in demand[34]. Cost and Expenses - Average raw material costs represented 75.99% of the company's main business costs over the past three years, significantly impacting profit margins[10]. - Rising labor costs are a significant risk, with the company continuously increasing worker compensation to attract skilled labor[9]. - Fluctuations in raw material prices, particularly copper, have been noted, with recent increases affecting profitability[10]. - The labor costs for automotive motors and components increased by 86.10% year-on-year, reaching ¥46,761,219.14, which is 1.85% of the total operating costs[58]. - The manufacturing costs for automotive motors and components rose by 68.54% year-on-year, amounting to ¥67,982,646.57, which is 2.69% of the total operating costs[58]. - The total sales expenses for 2024 were ¥97,216,006.46, reflecting an 18.90% increase compared to 2023[64]. Research and Development - The company is focused on maintaining its competitive edge through timely research and development of new technologies and products[6]. - The company has made significant investments in R&D and talent acquisition, leveraging its location in the economically developed Yangtze River Delta region[48]. - Research and development expenses increased by 14.46% year-on-year, totaling ¥168,021,695.33 in 2024[64]. - The company has increased its R&D personnel to 556 in 2024, a 4.32% increase from 533 in 2023[69]. - R&D investment reached approximately ¥168 million in 2024, maintaining a ratio of 4.77% of operating revenue, consistent with 2023[69]. - The company is actively developing core components for humanoid and quadruped robots, with some products already in small batch production[36]. Market Expansion and Strategy - The company is committed to expanding its market presence and enhancing its product offerings through strategic innovation and development[6]. - The company expanded its international operations, establishing a manufacturing base in Mexico, which is set to commence production soon[48]. - The company is focusing on international expansion with new production bases in Thailand and other suitable locations to better serve foreign clients[100]. - The company aims to enhance its market share in household appliance motors and expand into new component markets, particularly in the refrigerator, washing machine, and air conditioning sectors[98]. - The company plans to increase R&D investment in electric motors for the new energy vehicle sector, medical devices, and industrial applications[98]. Governance and Management - The management team has confirmed the accuracy and completeness of the financial report, ensuring accountability for the information presented[5]. - The company is committed to enhancing its governance structure and improving management levels to support sustainable development[100]. - The audit committee consists of independent directors and is responsible for overseeing internal and external audits, ensuring the integrity of financial information[112]. - The strategic committee is tasked with researching and proposing long-term development strategies and major investment plans, ensuring alignment with the company's goals[112]. - The nomination committee is responsible for suggesting board composition and evaluating candidates for senior management positions, ensuring a qualified leadership team[113]. - The compensation and assessment committee links executive compensation directly to performance, promoting accountability and transparency in management[114]. Shareholder Engagement and Rights - The company maintains a high level of information disclosure, ensuring that all shareholders have equal access to relevant information[111]. - The independent directors have fulfilled their responsibilities in the profit distribution process, ensuring transparency and protection of minority shareholders' rights[153]. - The company has established measures to ensure compliance with its commitments, including timely disclosure of any failures to fulfill these commitments[199]. - The company will compensate investors for any losses resulting from its failure to fulfill commitments, as per legal obligations[198]. - The company has committed to ensuring the accuracy and completeness of the prospectus for its initial public offering, promising to compensate investors for any losses incurred due to false statements or omissions[197]. Environmental and Social Responsibility - The company received the "Green Factory" honor from the Changzhou Municipal Bureau of Industry and Information Technology in 2024, reflecting its commitment to environmental protection[187]. - The company has established and implemented an energy management system in accordance with GB/T23331-2020/ISO50001:2018 standards[187]. - The company strictly adheres to environmental protection laws and has not faced any significant penalties for violations during the reporting period[186]. - The company emphasizes employee rights and complies with labor laws, ensuring proper employment practices and social insurance contributions[189]. - The company has a comprehensive approach to corporate social responsibility, balancing economic, environmental, and social interests[187].