Financial Performance - The company's operating revenue for 2024 reached ¥633,060,381.71, representing an 18.77% increase compared to ¥533,005,275.34 in 2023[20]. - The net profit attributable to shareholders for 2024 was ¥27,297,868.94, a decrease of 37.08% from ¥43,385,288.50 in 2023[20]. - The net cash flow from operating activities for 2024 was -¥56,205,107.92, a significant decline compared to ¥76,469,199.17 in 2023[20]. - The basic earnings per share for 2024 was ¥0.27, down 44.90% from ¥0.49 in 2023[20]. - Total assets increased by 5.91% to ¥1,255,203,604.88 in 2024 from ¥1,185,138,008.36 in 2023[21]. - The net assets attributable to shareholders decreased by 0.90% to ¥957,858,268.39 in 2024 from ¥966,560,399.45 in 2023[21]. - Total revenue for 2024 reached ¥633,060,381.71, representing an 18.77% increase from ¥533,005,275.34 in 2023[68]. - Relay segment generated ¥578,032,386.28, accounting for 91.31% of total revenue, with a year-on-year growth of 17.81%[68]. - Fluid electromagnetic valve revenue increased by 26.89% to ¥46,636,676.84, representing 7.37% of total revenue[68]. - Domestic sales amounted to ¥597,907,156.69, up 19.87% from ¥498,801,201.36, making up 94.45% of total revenue[68]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.4 RMB per 10 shares (including tax) based on a total of 100,800,000 shares[5]. - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of RMB 221,497,213.34[166]. - The company has not proposed any stock bonus or capital reserve conversion into shares for this period[167]. - The remaining undistributed profits will be carried forward for future distribution[167]. Corporate Governance and Management - The company emphasizes that forward-looking statements regarding future plans and strategies are subject to risks and uncertainties, which may lead to actual performance differing significantly from these statements[5]. - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, including the Company Law and Securities Law, enhancing its internal control and management systems[124]. - The company operates independently from its actual controllers in terms of assets, personnel, finance, and business, ensuring complete operational autonomy[126]. - The company held its first temporary shareholders' meeting in 2024 with a participation rate of 75.09% on January 19, 2024[129]. - The annual shareholders' meeting for 2023 had a participation rate of 75.06% and was held on May 14, 2024[129]. - The second temporary shareholders' meeting in 2024 had a participation rate of 70.90% on July 11, 2024[129]. - The company has established a performance evaluation system for its directors and senior management, which includes salary, allowances, and bonuses[148]. - The board of directors includes a total of 14 members, with 3 independent directors[150]. - The company has been actively expanding its management team, with several new appointments in 2024[147]. Audit and Compliance - The company’s financial report has been confirmed as true, accurate, and complete by its management, including the CEO and accounting head[5]. - The company has appointed Tianjian Accounting Firm as its auditor for the reporting period[19]. - The internal control system is deemed effective, adhering to relevant regulations and ensuring the protection of shareholder interests[168]. - There were no significant internal control deficiencies reported during the period[171]. - The internal control audit report issued a standard unqualified opinion, confirming effective financial reporting controls[172]. - The company is focused on maintaining compliance with regulatory requirements and has not faced any penalties from securities regulatory agencies in the past three years[148]. Research and Development - The company has accumulated 15 invention patents, 2 design patents, and 120 utility model patents, demonstrating a strong commitment to R&D and innovation in relay technology[60]. - The R&D budget has been increased by 30%, focusing on innovative technologies and product development[142]. - The company plans to strengthen its R&D system, attract high-end technical talent, and enhance product reliability verification capabilities[113]. - The number of R&D personnel decreased by 20.55% from 146 in 2023 to 116 in 2024[79]. - R&D investment amounted to ¥30,837,839.43 in 2024, representing 4.87% of operating revenue, down from 5.85% in 2023[80]. Market and Industry Trends - The relay industry is experiencing a shift from traditional applications to emerging fields, with a transformation from low-end to high-end, high-value-added products, indicating a continuous extension of the industry value chain towards high-end[31]. - The company is committed to smart manufacturing, focusing on flexible, networked, and green production methods to enhance competitiveness in the evolving market[34]. - The company aims to expand into the renewable energy and energy storage sectors while enhancing its overseas market presence[107]. - The company is actively pursuing market expansion strategies, particularly in the relay and valve sectors[100]. - The company will deepen market exploration and customer resource mining in other relay fields, actively participating in industry exhibitions to increase brand exposure[111]. Risks and Challenges - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by recent audit reports[22]. - The company faces risks from high customer concentration in the home appliance sector, with over 30% of revenue dependent on Midea Group, and plans to diversify its customer base[118]. - The company is exposed to raw material price fluctuations, particularly in contact points and copper, and will enhance product competitiveness to mitigate risks[116]. - The relay industry is subject to cyclical demand, with market demand increasing during economic growth and slowing during downturns[40]. Employee and Labor Relations - The total number of employees at the end of the reporting period was 653, including 638 from the parent company and 15 from major subsidiaries[161]. - The company adheres to labor laws and provides benefits such as social insurance and paid leave, ensuring employees' rights and interests[162]. - Employee training programs are emphasized, combining internal and external training to enhance management and technical skills[163]. Investment and Capital Management - The company has established a wholly-owned subsidiary, Shenzhen Shenmeishuo Electric Technology Co., Ltd., to enhance market competitiveness[72]. - The company reported a total investment of ¥21,000,000 during the reporting period[94]. - The company has committed to using the raised funds for investment projects, with 44.22% of the funds already utilized[98]. - The company plans to continue using the raised funds for its operational needs and investment projects[98]. Shareholder Commitments and Lock-up Period - The actual controllers and shareholders have committed to a 36-month lock-up period for their shares following the IPO[184]. - The company has a lock-up period of 12 months following the IPO, during which it will not transfer or manage its shares[185]. - The company will ensure that any share reduction activities are conducted in accordance with market regulations to protect investor interests[185]. - The company will publicly disclose any failure to adhere to these commitments and will apologize to shareholders and investors if losses occur due to non-compliance[186].
美硕科技(301295) - 2024 Q4 - 年度财报