RIFA PM(SZ:002520)2025-04-24 11:30Financial Performance - The company's operating revenue for 2024 was ¥1,804,264,492.73, a decrease of 13.40% compared to ¥2,083,363,091.11 in 2023[17]. - The net profit attributable to shareholders was -¥675,340,894.17, showing an improvement of 25.20% from -¥902,907,623.02 in the previous year[17]. - The basic earnings per share for 2024 was -¥0.85, which is a 24.78% increase from -¥1.13 in 2023[17]. - Total assets at the end of 2024 were ¥3,299,970,012.25, down 21.93% from ¥4,226,765,826.03 at the end of 2023[17]. - The company's net assets attributable to shareholders decreased by 58.74% to ¥521,101,635.39 from ¥1,263,045,358.38 in 2023[17]. - Cash flow from operating activities was ¥334,346,110.69, a slight increase of 2.91% compared to ¥324,882,127.25 in 2023[17]. - The company reported a weighted average return on equity of -75.78% for 2024, compared to -52.00% in 2023[17]. - The revenue after deducting non-recurring gains and losses was ¥1,709,334,276.49, down from ¥1,984,833,010.47 in 2023[18]. - The company reported a net loss of ¥675 million in 2024, attributed to increased market competition affecting its subsidiary Airwork's aircraft leasing business[70]. Market Trends and Industry Outlook - The machine tool industry is projected to see a revenue decline of 5.2% in 2024, with metal cutting machine revenue increasing by 6.3%, highlighting a mixed market environment[31]. - The company anticipates a recovery in machine tool demand in 2025 due to equipment renewal needs and the rapid development of emerging industries like humanoid robots[43]. - In 2024, global air cargo demand is expected to reach a historical high, with a year-on-year growth of 11.3% compared to 2023, driven by strong e-commerce growth and various shipping restrictions[36]. Strategic Focus and Innovation - The company aims to enhance its product quality and production efficiency, focusing on high-precision and intelligent manufacturing solutions to improve market competitiveness[35]. - The company plans to continue its strategic focus on R&D and product innovation to maintain its leadership in the intelligent manufacturing sector[35]. - The company is committed to enhancing its R&D capabilities and product innovation to maintain a competitive edge in the intelligent manufacturing sector[39]. - The company plans to complete several key R&D projects by the end of 2024, including the SK7405 CNC screw grinding machine and the three-generation hub assembly line, aimed at expanding into the new energy vehicle market[67]. Subsidiary Performance and Challenges - The company's subsidiary, Airwork, has over 80 years of aviation service experience but faces challenges due to complex geopolitical situations affecting its operations[36]. - The Italian subsidiary, MCM, has faced increased operational losses due to rising costs from geopolitical factors and inflation, leading to a full impairment of goodwill recognized at acquisition[47]. - The company’s overseas business has been adversely affected, particularly in the aircraft leasing segment, leading to continued losses[51]. Governance and Internal Controls - The company has established a sound organizational structure with independent operational departments, ensuring no interference from the controlling shareholder[128]. - The internal control system has been established and effectively executed, achieving goals in the authenticity of operating results, compliance of business operations, and effectiveness of internal controls[158]. - The company has implemented a fair and effective performance evaluation and incentive mechanism for senior management, combining basic annual salary with year-end performance assessment[125]. - The company emphasizes transparent information disclosure, ensuring all shareholders have equal access to information[126]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions through improvements in manufacturing processes and energy efficiency[163]. - The company emphasizes a balanced approach to economic, social, and environmental benefits to achieve sustainable development[163]. Future Outlook and Guidance - The company provided a forward guidance of 10% revenue growth for Q4 2023, projecting revenues between $1.3 billion and $1.4 billion[105]. - The company plans to enhance its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[105]. - The company has set a future outlook with a revenue guidance of 1.5 billion for the next quarter, indicating a 25% growth expectation[107]. Employee and Board Structure - The company employed a total of 1,188 staff members at the end of the reporting period, with 636 in production, 84 in sales, 239 in technology, 44 in finance, and 185 in administration[151]. - The board of directors has approved a new compensation structure for executives, aligning with performance metrics to ensure accountability[142]. - The company has a board of directors with a mix of experienced professionals, including a PhD holder and a senior economist[134].