LONGLI(SZ:300752)2025-04-23 15:00Financial Performance - The company's operating revenue for 2024 reached ¥1,320,131,909.64, representing a 28.64% increase compared to ¥1,026,254,682.16 in 2023[18]. - Net profit attributable to shareholders increased by 132.90% to ¥106,376,207.94 in 2024, up from ¥45,673,970.56 in 2023[18]. - The net profit after deducting non-recurring gains and losses surged by 1,813.63% to ¥93,577,338.84 in 2024, compared to ¥4,890,050.31 in 2023[18]. - The net cash flow from operating activities improved significantly to ¥347,652,233.67, a 330.75% increase from -¥150,662,156.74 in 2023[18]. - Basic and diluted earnings per share both rose to ¥0.47, reflecting a 123.81% increase from ¥0.21 in 2023[18]. - Total assets at the end of 2024 were ¥1,979,247,497.98, a 10.48% increase from ¥1,791,428,797.84 at the end of 2023[18]. - The company achieved an operating revenue of approximately 1.32 billion yuan and a net profit attributable to shareholders of 106.38 million yuan, representing a year-on-year growth of 132.9%[65]. - The company's total revenue for 2024 reached approximately ¥1.32 billion, representing a year-over-year increase of 28.64% compared to ¥1.03 billion in 2023[77]. Business Strategy and Development - The company has established a diversified business layout, including core businesses in mobile devices and automotive displays, as well as emerging sectors like AR/VR displays[38]. - The company is actively pursuing international development strategies, enhancing its reputation and fostering collaborations with top global firms to drive innovation[46]. - The company is expanding its business into new areas such as AR/VR displays and precision components, indicating a forward-looking growth strategy[50]. - The company aims to leverage new technologies like Micro-LED and LIPO to enhance product performance and reliability, further broadening its application fields[55]. - The company is committed to continuous innovation and technology development, enhancing its competitive strength in the display business[51]. - The company is actively exploring new strategies in the LCD display sector and has outlined its development goals for 2024[139]. - The company is focusing on market expansion and potential mergers and acquisitions to enhance its competitive position[139]. Research and Development - The company has applied for a total of 543 patents, including 155 invention patents, and has been granted 417 patents, with 50 being invention patents[56]. - The company increased R&D spending by 7.75% year-on-year, focusing on Mini-LED, Micro-LED, and OLED technologies[65]. - Research and development (R&D) expenditure amounted to ¥56,199,358.91 in 2024, representing 4.26% of total revenue, down from 5.08% in 2023[95]. - The number of R&D personnel increased by 12.42% to 344 in 2024, while the proportion of R&D staff to total employees decreased by 2.35%[95]. - The company is committed to ongoing research and development of new products and technologies to drive future growth[139]. Market Outlook - The company anticipates that AI will drive significant growth in the consumer electronics market, particularly in mobile devices[28]. - The automotive sector is projected to see a 4.5% increase in sales, with new energy vehicle sales expected to grow by 35.5% in 2024, enhancing the demand for in-car displays[29]. - The company provided a positive outlook for 2024, highlighting plans for market expansion and new product development in Mini-LED technology[141]. - The company is focusing on the development of Mini-LED backlight technology for automotive displays, which is expected to enhance market competitiveness[144]. - The company is exploring new strategies for market expansion, including potential mergers and acquisitions in the technology sector[143]. Corporate Governance - The company has a complete independent business system and operational capabilities, ensuring no reliance on the controlling shareholder's assets for production and operation[151]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[149]. - The company has a fully independent financial department, adhering to the Accounting Law and accounting standards, with no shared bank accounts with shareholders[152]. - The company maintains a transparent information disclosure system, ensuring timely and accurate communication with investors[149]. - The management team, including the general manager and other senior executives, strictly follows the company's regulations and board resolutions[149]. Risk Management - The company faces risks from intensified market competition, but plans to strengthen cooperation with existing major clients and explore new application areas to maintain its competitive edge[132]. - The company is addressing the risk of declining product prices by improving production technology, increasing efficiency, and expanding into new application fields such as automotive and gaming displays[133]. - The emergence of new technologies like OLED poses a risk to the company's LCD backlight module business, prompting the company to invest in R&D for OLED and Micro-LED technologies[134]. - The company is affected by US-China trade tensions, particularly in its smartphone and laptop segments, and is working to diversify its client base and expand into new markets[138]. Shareholder Engagement - The company held its first temporary shareholders' meeting on March 20, 2024, with an investor participation rate of 43.25%[155]. - The annual shareholders' meeting for 2023 took place on May 16, 2024, with a participation rate of 43.18%[155]. - The company is focused on maintaining a high level of shareholder engagement, as evidenced by the participation rates in its meetings[155]. - The company plans to provide detailed insights into its performance metrics and strategic initiatives in the upcoming investor relations activities[140]. Dividend Policy - The company reported a negative distributable profit for the 2023 fiscal year, thus not meeting the conditions for cash dividends[196]. - The company plans to issue 7 million stock options to 97 incentive targets as part of the 2024 stock option incentive plan[198]. - The company will not distribute cash dividends or issue new shares from capital reserves for the current year, focusing instead on long-term development and risk management[197].