Financial Performance - The company's operating revenue for 2024 reached ¥3,398,206,650.56, representing a 37.06% increase compared to ¥2,479,303,562.31 in 2023[18]. - The net profit attributable to shareholders decreased by 8.14% to ¥196,500,961.04 in 2024 from ¥213,921,812.30 in 2023[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 28.40% to ¥191,661,544.04 in 2024 from ¥149,265,406.86 in 2023[18]. - The total assets of the company increased by 13.06% to ¥4,363,711,036.89 at the end of 2024 from ¥3,859,663,382.92 at the end of 2023[18]. - The basic earnings per share decreased by 13.56% to ¥0.51 in 2024 from ¥0.59 in 2023[18]. - The cash flow from operating activities improved significantly, with a net inflow of ¥11,104,730.52 in 2024 compared to a net outflow of ¥64,262,458.24 in 2023, marking a 117.28% increase[18]. - The company achieved operating revenue of 339,820.67 million yuan in 2024, representing a year-on-year growth of 37.06%[44]. - The net profit attributable to shareholders, after deducting non-recurring gains and losses, was 19,166.15 million yuan, an increase of 28.40% compared to the previous year[44]. - The company reported a consolidated net profit of ¥198,516,102.86 for the fiscal year 2024, with the parent company net profit at ¥137,794,455.14[165]. Dividend Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, based on a total of 389,101,809 shares[4]. - The cash dividend for the 2023 fiscal year accounted for 100% of the total profit distribution[163]. - The proposed cash dividend distribution is ¥2.00 per 10 shares, totaling ¥77,820,361.80 to be distributed to shareholders[165]. - For the first three quarters of 2024, the company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 38,910,180.90 (including tax)[162]. Market and Industry Outlook - The global wire and cable market is projected to grow at a compound annual growth rate (CAGR) of 5.30% from 2021 to 2031, reaching a market size of $285.05 billion[29]. - The demand for special cables is expected to rise due to advancements in industrial equipment manufacturing and the construction of smart grids, providing new opportunities for growth in the industry[30]. - The company operates in the electrical machinery and equipment manufacturing industry, specifically focusing on power line components and special cables, which are essential for various applications[27]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, indicating that these do not constitute commitments to investors[4]. - The company has outlined potential risks and countermeasures in the section discussing future development prospects[4]. - The company recognizes macroeconomic risks, including uncertainties in the global political landscape that could impact economic growth and industry stability[112]. - The company faces foreign exchange risk due to a significant portion of its revenue being settled in USD, which may affect operating performance during currency fluctuations[112]. - The company emphasizes the importance of maintaining strong relationships with major clients, including Haier and Dell, to mitigate risks associated with client concentration[113]. Corporate Governance - The company is committed to enhancing its governance structure, including the establishment of various committees to improve decision-making and oversight[117]. - The company has implemented a value management system and is focused on enhancing its valuation improvement plan[115]. - The company maintains strict information disclosure practices, ensuring timely and accurate communication with investors through various channels[127]. - The board of directors consists of 9 members, including 3 independent directors, and held 3 meetings to review significant issues like financial reports and profit distribution[121]. - The supervisory board, comprising 3 members, convened 4 times to oversee financial reports and related transactions, ensuring compliance with regulations[123]. Research and Development - The company’s R&D capabilities are bolstered by partnerships with academic institutions, leading to innovations in core technologies and product development[52]. - The company’s R&D expenses for 2024 were ¥120,874,886.81, a decrease of 6.71% from ¥129,575,350.08 in 2023[69]. - The company aims to enhance market competitiveness through the completion of several R&D projects, including a hydrogen gun and floating cables[70]. - The company is in the process of developing new products such as an automated charging gun and a real-time monitoring system for charging guns[70]. Sustainability and Social Responsibility - The company is committed to environmental management and has been recognized as a "National Green Factory" by the Ministry of Industry and Information Technology[35]. - The company emphasizes a commitment to social responsibility and actively participates in community service and charity activities, particularly in supporting education and environmental initiatives[180]. - The company has established a comprehensive sustainable development management system, integrating it into daily operations to promote social responsibility[178]. - The company is focused on poverty alleviation and rural revitalization, engaging in local community support and improving the quality of life for farmers through quality product promotion[180]. Production and Operations - The company has invested in advanced automated production lines, leading to industry-leading levels of production automation[36]. - The company has established a dual production base in Weihai and Thailand to enhance global market competitiveness and customer service capabilities[58]. - The company has built a comprehensive vertical integration of its supply chain, enhancing efficiency and reducing costs across production processes[55]. - The company plans to enhance smart manufacturing capabilities and strengthen quality control to improve operational efficiency and reduce operating costs[195]. Customer Relations - The company has established a strong customer base, including major clients such as Dell, Haier, Samsung, and Walmart, enhancing its market position in the power cable component industry[34]. - The company has established stable partnerships with leading manufacturers in the electric vehicle sector, including BYD and Geely, enhancing its market competitiveness in the new energy vehicle charging connection products[47]. - The company has a professional after-sales service team to enhance customer service levels and address client issues efficiently[177]. Investment and Financing - The company raised a total of RMB 194,462.72 million through a public offering of 9,728,000 shares at an issue price of RMB 19.99 per share[91]. - The net amount raised after deducting issuance costs was RMB 169,772.05 million, with a usage ratio of 78.18% as of the report date[91]. - The company plans to invest RMB 27,995.00 million in the construction of the power connection device project in Thailand using oversubscribed funds[96]. - The company has committed to investing in new technologies to improve production capabilities and market competitiveness[95]. Employee Management - The total number of employees at the end of the reporting period is 2,415, with 1,236 in the parent company and 1,179 in major subsidiaries[157]. - The company has established a competitive salary management system based on industry standards and individual performance[159]. - The company has implemented both internal and external training programs to enhance employee skills and support sustainable development[160]. Shareholder Engagement - The company continues to prioritize shareholder engagement and transparency in its governance practices[138]. - The annual shareholder meeting had a participation rate of 70.78%, while the first extraordinary shareholder meeting of 2024 saw a participation rate of 71.04%[136]. - The company held multiple board meetings to review and approve the use of oversubscribed funds for various projects and cash management strategies[96].
泓淋电力(301439) - 2024 Q4 - 年度财报