HAXC (SZ:300928)2025-04-24 10:40Financial Performance - The company achieved operating revenue of RMB 1,034.76 million, an increase of RMB 73.51 million year-on-year, representing a growth of approximately 7.6%[4] - The net profit attributable to shareholders was a loss of RMB 76.06 million, a decrease of RMB 35.62 million year-on-year, indicating a worsening performance[4] - The net profit attributable to shareholders for 2024 was -¥76,057,367.80, a decline of 88.08% from -¥40,438,934.25 in 2023[17] - The net cash flow from operating activities for 2024 was -¥134,390,389.39, a significant decrease of 197.35% compared to ¥138,055,489.31 in 2023[17] - The net profit after deducting non-recurring gains and losses was -¥82,484,328.01 for 2024, a decrease of 72.36% from -¥47,855,403.37 in 2023[17] - The company reported a total of ¥6,426,960.21 in non-recurring gains for 2024, down from ¥7,416,469.12 in 2023[23] Revenue Growth Drivers - The growth in revenue was primarily driven by the significant breakthroughs in China's automotive industry, with increased demand for the company's products due to the acceleration of automotive intelligence and green transformation[4] - The automotive industry in China saw a 3.7% increase in production and a 4.5% increase in sales in 2024, with new energy vehicles accounting for 40.9% of total sales[26] - The automotive electronics sector contributed ¥1.01 billion, accounting for 97.42% of total revenue, with a growth of 14.00% from ¥884 million in the previous year[55] - The smart cockpit terminal business generated revenue of ¥100.65 million, showing a remarkable growth of 5,454.91% compared to ¥1.81 million in 2023[55] Research and Development - The company is actively pursuing multiple R&D projects, which has resulted in high costs related to labor and trial production materials, contributing to the net loss[4] - The company has achieved breakthroughs in key technologies and developed several competitive new products during the reporting period[5] - Future R&D will focus on advanced display technologies and natural human-computer interaction methods, expanding the product line to offer complete solutions from single display devices to intelligent cockpit systems[32] - The company has developed and produced intelligent cockpit terminals, including central control display systems and head-up displays, enhancing user experience and driving safety[31] - Research and development expenses rose by 16.05% to ¥63,639,485.38, primarily due to increased investment in smart cockpit terminal projects[67] Manufacturing and Production - The construction of the Nantong smart manufacturing plant is progressing rapidly, with steady improvements in production line commissioning and project mass production timelines[5] - The company has begun to establish manufacturing capabilities for smart cockpit terminals, leading to increased sales revenue from related products[27] - The company successfully transitioned from trial production to mass production, with its first full-chain production line passing trial runs[53] Strategic Partnerships and Market Position - The company has established strategic partnerships with core component suppliers, enhancing procurement channels and ensuring supply chain security[46] - The company has expanded its customer base, gaining supplier access to six new major manufacturers in the new energy vehicle market, which is expected to positively impact future business[51] - The company has established itself as a system provider in the automotive cockpit electronic field, offering comprehensive development services and production support[43] Financial Management and Investment - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[6] - The company reported a total investment of ¥104,845,608.63 for the current period, a decrease of 61.93% compared to ¥275,418,435.88 in the same period last year[83] - The company has committed 10,000 million for working capital, achieving 100% utilization[96] - The company plans to allocate at least 20% of cash dividends in its profit distribution, considering its growth stage and significant capital expenditure arrangements[176] Governance and Compliance - The company has established an independent governance structure and internal control system, ensuring compliance with relevant laws and regulations[118] - The board of directors consists of 7 members, including 3 independent directors, and has held 6 meetings during the reporting period[121][122] - The company has implemented a strict information disclosure policy, ensuring timely and accurate communication with investors[125] - The company has established an audit committee to oversee internal control and financial information[126] Employee Management and Development - The company has implemented a series of employee training programs, including new employee onboarding and skills enhancement training, to improve overall employee competencies[158] - The company has a comprehensive salary structure that includes wages, performance bonuses, allowances, and incentives to enhance employee engagement and competitiveness[157] - The company has a talent training plan to enhance core competitiveness through the development of high-skilled and high-technology personnel[158] Environmental and Social Responsibility - The company actively fulfills its social responsibilities, providing equal development opportunities for employees and maintaining a comprehensive human resource management system[171] - The company has focused on the research, design, sales, and service of smart cockpit electronic products, ensuring compliance with environmental protection requirements[169] - The company is not classified as a key pollutant discharge unit by environmental protection authorities, and there were no administrative penalties related to environmental issues during the reporting period[169] Related Party Transactions - The company has fully disclosed related party transactions in accordance with legal regulations and there are no undisclosed transactions that require disclosure[178] - The actual controller of the company will avoid related party transactions as much as possible, and unavoidable transactions will be conducted fairly and justly[178] - The company will ensure timely disclosure of related party transactions as per regulatory requirements[178]