JL(SZ:300589)2025-04-23 10:20Financial Performance - In 2024, Jianglong Shipbuilding achieved operating revenue of CNY 1.73 billion, a year-on-year increase of 45.72% compared to CNY 1.19 billion in 2023[5]. - The net profit attributable to shareholders of the listed company for 2024 was CNY 11.25 million, a decline of 74.48% from CNY 44.07 million in 2023[5]. - The net cash flow from operating activities was negative CNY 340.76 million, a decrease of 175.36% compared to CNY 452.19 million in 2023[5]. - The total assets at the end of 2024 were CNY 2.12 billion, down 11.28% from CNY 2.39 billion at the end of 2023[5]. - The net assets attributable to shareholders of the listed company increased by 0.79% to CNY 825.03 million at the end of 2024[5]. - Basic earnings per share for 2024 were CNY 0.0298, a decrease of 74.46% from CNY 0.1167 in 2023[5]. - The company reported a decrease in the weighted average return on net assets to 1.38% in 2024 from 5.59% in 2023[5]. - The net profit after deducting non-recurring gains and losses for 2024 was CNY 13.80 million, down 52.93% from CNY 29.32 million in 2023[5]. Revenue Breakdown - Boat sales accounted for ¥1.70 billion, representing 98.46% of total revenue, with a year-on-year growth of 45.39%[64]. - Revenue from law enforcement boats surged to ¥1.43 billion, an 87.11% increase compared to ¥763 million in 2023[64]. - Revenue from leisure boats decreased by 34.51% to ¥149 million, down from ¥227 million in the previous year[64]. - The North China region saw a significant revenue increase of 160.61%, reaching ¥1.19 billion, compared to ¥457 million in 2023[64]. Market Expansion and Product Development - The company is a leader in the domestic small and medium-sized boat segment, with a focus on law enforcement, tourism, and special operation vessels[28]. - The company has developed China's first methanol fuel-powered vessel and hydrogen fuel cell-powered workboat, positioning itself as a pioneer in the new energy boat sector[30]. - The company is expanding into the offshore aquaculture sector, building the world's first natural exchange-type aquaculture vessel, indicating its strategic market expansion efforts[30]. - The company signed new orders worth 982 million yuan, with a focus on expanding the market for port fire-fighting boats, pilot boats, and marine workboats[57]. - The company established an international division in 2024 to enhance overseas market expansion and improve delivery capabilities[59]. Research and Development - The company has a total of 281 valid patents, showcasing its strong focus on research and development[28]. - The company is developing a 5G-AI intelligent unmanned boat, which aims to enhance market competitiveness and fill a gap in the unmanned boat sector[79]. - The company is focusing on developing new technologies and products to enhance product competitiveness and increase market share[82]. - The company increased its R&D personnel from 177 in 2023 to 209 in 2024, representing an 18.08% growth[83]. - R&D investment amounted to ¥55,589,127.10 in 2024, accounting for 3.21% of operating revenue, down from 5.07% in 2023[83]. Environmental and Sustainability Efforts - The company is committed to green manufacturing practices, aiming to reduce carbon emissions throughout the entire production process[198]. - The company delivered 3 pure electric vessels during the reporting period, contributing to a reduction of approximately 343.67 tons of CO2 emissions annually compared to traditional fuel-powered vessels[196]. - The company has installed over 53,000 square meters of photovoltaic power generation facilities across its manufacturing sites, generating 3.8268 million kWh of electricity and reducing CO2 emissions by approximately 3,815.32 tons[197]. - The photovoltaic project saved the company approximately 1.1026 million yuan in electricity costs during the reporting period[197]. Governance and Management - The company has established a complete independent research and development, production, supply, sales, and after-sales system[142]. - The board of directors consists of 8 members, including 3 independent directors, complying with legal and regulatory requirements[131]. - The company has implemented a comprehensive performance evaluation and incentive mechanism for senior management, ensuring transparency in appointments[134]. - The company maintains independence in assets, personnel, finance, organization, and business from the controlling shareholder[137]. - The company has established various systems to protect investor rights, ensuring transparency in information disclosure[135]. Risks and Challenges - The company faces risks related to product quality, which could impact its reputation and market position if significant defects occur[113]. - The company is at risk of rising labor costs due to the complexity of boat design and construction, which may affect profitability if not managed effectively[115]. - The company faces risks from global and domestic macroeconomic uncertainties, which could negatively impact the shipbuilding industry and its financial performance[119]. - The company has developed new products including new energy vessels and aquaculture workboats, but faces risks related to construction experience and supply chain issues, potentially leading to increased costs and delays[120].