Titan Wind(002531)2025-04-24 11:20Financial Performance - The company's operating revenue for 2024 was ¥4,860,374,590.41, a decrease of 37.10% compared to ¥7,726,624,801.21 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥204,435,114.70, down 74.29% from ¥795,233,783.03 in 2023[6]. - The net cash flow from operating activities decreased by 67.26% to ¥598,799,944.88 in 2024 from ¥1,829,052,871.64 in 2023[6]. - The basic and diluted earnings per share for 2024 were both ¥0.11, a decline of 75.00% from ¥0.44 in 2023[6]. - Total assets at the end of 2024 increased by 3.23% to ¥25,096,745,413.27 from ¥24,310,563,553.70 at the end of 2023[6]. - The net assets attributable to shareholders increased by 0.44% to ¥8,924,430,579.87 at the end of 2024 from ¥8,885,545,062.01 at the end of 2023[6]. - The total revenue for 2024 was approximately ¥4.86 billion, a decrease of 37.10% compared to ¥7.73 billion in 2023[53]. - Wind power equipment revenue decreased by 46.82% to ¥3.34 billion, accounting for 68.72% of total revenue[53]. - The company reported a significant decline in offshore engineering product revenue, down 71.59% to ¥429.31 million[53]. - The gross margin for wind tower and related products was 7.15%, a decrease of 5.59% year-on-year[55]. Dividend Distribution - The company plans to distribute a cash dividend of 0.2 yuan per 10 shares to all shareholders, based on a total of 1,796,878,658 shares[3]. - The company plans to distribute cash dividends based on a total share capital of 1,796,878,658 shares, with a total cash dividend of ¥35,937,573.16 for the year 2024[152]. - The cash dividend policy for the reporting period included a distribution of ¥35,937,573.16, with a per-share payout of ¥0.2 for every 10 shares[150]. Business Operations and Strategy - The company has not reported any changes in its main business since its listing[15]. - The company has not reported any changes in its controlling shareholders since its listing[15]. - The company is focusing on offshore wind power and marine engineering equipment manufacturing, expanding its product range to include large offshore structures, underwater fixed foundations, floating platforms, and special vessels[37]. - The company has integrated its tower and blade businesses into a "Wind Energy Equipment Division," enhancing operational efficiency and resource concentration[37]. - The company aims to build a global manufacturing capability network for offshore engineering, leveraging its coastal bases in China and its base in Germany[37]. - The company is actively expanding its wind power resources across six major regions in China, enhancing its financial stability and risk resistance[39]. - The company plans to focus on offshore wind power business development in 2024, leveraging its industry advantages and technology accumulation[89]. - The company is transitioning from an equipment manufacturer to a zero-carbon asset investment and operation service provider, focusing on wind power asset development and investment[91]. Research and Development - The company has obtained 51 authorized patents in 2024, focusing on continuous R&D investment to drive technological innovation[108]. - Research and development expenses decreased by 19.12% year-over-year, amounting to ¥42,869,868.37[65]. - The company completed the development of intelligent inspection technology for wind turbine blades, enhancing product reliability and market competitiveness[66]. - The company aims to improve the accuracy and efficiency of production processes through digital technology and AI applications in its R&D projects[66]. - The company aims to achieve a carbon fiber recovery rate of ≥70% through the pyrolysis recycling technology for wind turbine blades, aligning with ESG policies[67]. Market Trends and Projections - In 2024, the company reported a total of 79.82GW of new wind power installations in China, a year-on-year increase of 6%[26]. - The company anticipates that the new wind power installations in China will reach 105-115GW in 2025, marking the beginning of the "100 million kilowatt era" for wind power[26]. - The global wind power market is entering a new expansion cycle, with 2024 expected to see a record 121.6GW of new installations, doubling since 2019, including 11.7GW from offshore wind, a 6% year-on-year increase[32]. - The global offshore wind market is projected to rebound in 2025, with new installations expected to reach 19GW and total industry investment estimated at $80 billion[32]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, and held 4 meetings during the reporting period[113]. - The supervisory board has 3 members, including 1 employee representative, and also held 4 meetings during the reporting period[114]. - The company maintains a complete independent operating capability and business structure, ensuring no interference from controlling shareholders[117]. - The company has established a strong management team with members having significant experience in investment and consulting, contributing to strategic decision-making[127]. - The company emphasizes the importance of renewable energy, with its leadership team comprising individuals with extensive experience in this sector[128][131]. Environmental and Social Responsibility - The company has implemented ISO 14001 environmental management system certification to effectively manage environmental factors and reduce resource waste[165]. - The company emphasizes employee rights and satisfaction, providing career planning and regular training to enhance employee skills[169]. - The company continues to prioritize social responsibility, integrating profit pursuit with community development initiatives[172]. - The company faced environmental penalties totaling CNY 80,000 for violations related to welding fumes and emissions, with no substantial impact on operations[165]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements related to strategic goals and operational plans[3]. - The company is enhancing its risk management capabilities to address macroeconomic uncertainties and geopolitical risks[100]. - The company's risk management system and flexible strategic adjustments have enabled it to maintain stable growth amid external uncertainties[49]. Legal and Compliance - The company is currently involved in a lawsuit regarding performance compensation and penalty fees due to unmet profit commitments, with the amount in dispute being RMB 21,999.15 million[183]. - The company has not encountered any regulatory issues requiring rectification during the reporting period[158]. - There are no significant litigation or arbitration matters affecting the company during the reporting period[182].