中辰股份(300933) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥3,089,873,737.70, representing a 10.38% increase compared to ¥2,799,223,407.59 in 2023[19] - The net profit attributable to shareholders decreased by 42.55% to ¥38,121,440.92 in 2024 from ¥66,353,009.65 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥17,542,896.06, down 53.03% from ¥37,352,445.71 in the previous year[19] - The net cash flow from operating activities improved significantly to ¥88,547,202.51, a 289.55% increase from -¥46,713,454.25 in 2023[19] - The total assets of the company increased by 8.64% to ¥4,280,408,101.49 at the end of 2024, compared to ¥3,939,835,941.65 at the end of 2023[19] - The net assets attributable to shareholders rose by 2.57% to ¥1,662,335,330.67 at the end of 2024, up from ¥1,620,616,121.12 in 2023[19] - The basic earnings per share decreased by 42.86% to ¥0.08 in 2024 from ¥0.14 in 2023[19] - The diluted earnings per share also fell by 42.86% to ¥0.08 in 2024, compared to ¥0.14 in the previous year[19] - The weighted average return on equity was 2.33% in 2024, down from 4.18% in 2023[19] Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥651.7 million, ¥733.9 million, ¥890.8 million, and ¥813.5 million respectively, showing a peak in Q3[21] - The revenue from the wire and cable segment was ¥3,085,201,541.50, accounting for 99.85% of total revenue, with a year-on-year increase of 10.32%[49] - The company’s revenue from the Northeast region increased by 37.72% year-on-year, reaching ¥161,831,332.81[50] - The company’s revenue from the Central China region surged by 118.61% year-on-year, totaling ¥299,980,051.57[50] Cash Flow and Investments - The company achieved a net cash flow from operating activities of ¥88,547,202.51, a significant increase of 289.55% compared to the previous year[70] - The net cash flow from investment activities was -¥48,469,751.50, an improvement of 53.04% compared to the previous year, attributed to the conclusion of IPO projects and recovery of structured deposits[70] - The company reported a total cash inflow from financing activities of ¥1,274,977,795.15, a 4.19% increase from the previous year[69] - The company reported a total investment of ¥238,692,304.21 during the reporting period, a significant increase of 109.62% compared to ¥113,869,480.10 in the same period last year[77] Product Development and Innovation - The company is focused on the development of high-performance cables for smart grids and clean energy, aligning with national infrastructure projects[30] - The company has completed the development of a halogen-free low-smoke flame-retardant B1 grade aluminum alloy cable, enhancing product competitiveness[65] - A new environmentally friendly medium-voltage power cable with excellent electrical insulation and electromagnetic interference resistance has been developed, aligning with market trends[65] - The company has completed the development of a new energy storage system battery connection cable, reaching a leading level in the domestic market[65] - The company is focusing on new product development and has increased its patent authorization, enhancing its competitive edge in the market[48] Strategic Partnerships and Market Position - The company has established long-term strategic partnerships with major clients such as State Grid and China Southern Power Grid, enhancing its market position[30] - The company has been recognized as one of the "Top 100 Competitive Enterprises in China's Cable Industry" for several consecutive years, indicating strong industry standing[29] - The company operates primarily in the electric wire and cable sector, which is closely tied to the economic development and urbanization trends in China[28] Supply Chain and Procurement - The procurement model includes sourcing raw materials such as copper rods and aluminum rods, ensuring a stable supply chain through long-term partnerships with suppliers[35] - The company has established a comprehensive supplier management system to ensure quality and timely delivery of materials[35] - The total procurement amount from the top five suppliers is ¥1,432,751,717.30, accounting for 51.98% of the annual total procurement[61] Risk Management and Compliance - The company faces risks related to accounts receivable collection and cash flow fluctuations due to the capital-intensive nature of the cable industry[105] - The cost of raw materials, primarily copper and aluminum, constitutes approximately 80% of the product cost, exposing the company to price volatility risks[106] - The company has implemented strict quality control standards and has achieved ISO9001:2015 certification, enhancing its quality management level[43] Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[114] - The supervisory board has 3 members, including 1 employee supervisor, fulfilling legal requirements and overseeing compliance with major transactions[114] - The company has established a fair and transparent performance evaluation system for senior management, ensuring compliance with legal regulations[115] Social Responsibility and Environmental Initiatives - The company donated RMB 125,000 to support poverty alleviation and rural revitalization efforts in Hunyuan County during the reporting period[167] - The company has established an environmental management system compliant with ISO14001:2015 standards and has passed the certification[162] - The company implemented a rooftop photovoltaic power generation project at its Yixing plant, generating a total of 734,130 kWh of solar power during the reporting period[162] Future Outlook and Strategic Goals - The company plans to focus on innovation and market expansion, emphasizing the importance of long-term customer relationships and project acquisition[104] - The company aims to enhance its overall risk resistance through its hedging strategies, which are linked to raw materials related to its production and operations[85] - The company plans to distribute a cash dividend of ¥0.3 per 10 shares (before tax) to all shareholders[3]