雷迪克(300652) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 740,098,633.47, representing a 13.53% increase compared to CNY 651,881,134.60 in 2023[18] - The net profit attributable to shareholders for 2024 was CNY 120,164,112.09, a slight decrease of 0.18% from CNY 120,379,417.02 in 2023[18] - The net profit after deducting non-recurring gains and losses was CNY 107,771,021.73, which is a 3.03% increase from CNY 104,603,868.87 in 2023[18] - The total assets at the end of 2024 reached CNY 1,837,890,734.43, marking a 9.57% increase from CNY 1,677,325,354.90 at the end of 2023[18] - The net assets attributable to shareholders increased by 5.21% to CNY 1,390,712,865.90 from CNY 1,321,852,820.31 in 2023[18] - The cash flow from operating activities for 2024 was CNY 52,303,701.68, a significant decrease of 52.98% compared to CNY 111,240,260.06 in 2023[18] - The basic earnings per share remained stable at CNY 1.17, unchanged from 2023[18] - The company reported a total profit amounted to 138 million, up 5.16% year-on-year, while the net profit attributable to shareholders slightly decreased by 0.18% to 120 million[54] Market and Industry Trends - The domestic automobile production and sales reached 31.28 million and 31.44 million units respectively in 2024, with year-on-year growth of 3.7% and 4.5%[30] - The sales of new energy vehicles in China reached 17.97 million units in 2024, a year-on-year increase of 23.1%, with a market share of 65.2%[30] - The bearing industry saw a total revenue of 119.34 billion yuan in 2024, representing a year-on-year growth of 6.19%[36] - The profit of major enterprises in the bearing industry totaled 9.38 billion yuan in 2024, marking a year-on-year increase of 14.29%[36] - The market for automotive parts is expected to continue growing due to the increasing demand for high-end and precision mechanical components[36] Product Development and R&D - The company has strengthened its R&D capabilities, leading to product upgrades and a deeper industry layout in the automotive bearing manufacturing sector[37] - The company is focusing on R&D for innovative products such as new energy gearbox bearings to enhance its product structure and market competitiveness[58] - The company has developed over 10,000 types of automotive bearing products, with daily production involving more than 3,000 types[49] - Research and development expenses increased by 21.40% to ¥33,649,441.73 compared to the previous year[70] - The number of R&D personnel increased to 104 in 2024, representing a 15.56% growth compared to 90 in 2023[73] Sales and Distribution - The company achieved a 51.14% increase in OE (Original Equipment) sales, with 607.11 thousand units sold compared to 401.70 thousand units in the previous year[44] - Sales of wheel hub bearings increased by 21.54%, totaling 487.17 thousand units, up from 400.83 thousand units year-over-year[44] - The AM (Aftermarket) sales slightly decreased by 0.46%, totaling 1,961.47 thousand units, down from 1,970.48 thousand units year-over-year[44] - The company’s overseas sales accounted for 33.10% of total revenue, reflecting a year-on-year increase of 13.80%[61] Investment and Capital Management - The company has made a capital contribution of ¥22 million to a partnership, which will be included in the consolidated financial statements starting December 1, 2024[68] - The total investment amount for the reporting period was RMB 22,500,000, a decrease of 3.02% compared to the previous year's investment of RMB 23,200,000[85] - The company has established a special account for the raised funds to ensure dedicated use and strict control over the usage process[186] Corporate Governance - The company has established a complete internal management structure to meet its development and market competition needs[114] - The board of directors consists of 7 members, including 3 independent directors, and has held 6 meetings, maintaining compliance with governance standards[110] - The company has implemented a value management system and disclosed an evaluation enhancement plan, aligning with its strategic goals[106] - The company emphasizes the importance of maintaining the rights of all shareholders, particularly minority shareholders, ensuring equal access to information and participation[108] Environmental and Social Responsibility - The company has not faced any environmental pollution incidents or violations of environmental laws during the reporting period[151] - The company has actively engaged in energy-saving initiatives, including the installation of solar panels since 2017, contributing to green and low-carbon development[151] - The company has maintained a focus on employee development and welfare, ensuring a safe and healthy working environment[152] Future Outlook and Strategy - The company aims to focus on expanding its market presence, particularly in the rapidly growing new energy vehicle sector, and will optimize its customer structure to mitigate business risks[101] - The company plans to enhance its internal capabilities by accelerating the construction of its Tongxiang No. 3 plant and strengthening core technology and product development[101] - The company will seek acquisition opportunities related to its main business to improve its industrial chain and expand its business depth[101] Shareholder Engagement and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 15,391,220.00 based on 102,608,133 shares[5] - The cash dividend amount represents 100% of the distributable profit of RMB 522,975,228.56[141] - The profit distribution proposal must receive approval from at least two-thirds of the voting rights at the shareholders' meeting[173] Risk Management - The company acknowledges risks related to macroeconomic fluctuations and international trade uncertainties that could impact the automotive industry and its order volume[102] - The main raw materials for the company's products are bearing steel and steel products, with price fluctuations directly impacting production costs and profit margins[103] - There is a risk of declining gross margin due to intensified international trade friction and market competition, which may affect product sales prices[104]