Financial Performance - Juxing Technology achieved a revenue of RMB 1,001,592,071.53 in 2024, representing a 66.17% increase compared to RMB 602,741,233.99 in 2023[24]. - The net profit attributable to shareholders reached RMB 115,995,962.34, up 51.12% from RMB 76,756,175.46 in the previous year[24]. - The gross profit margin decreased to 21.66% in 2024 from 24.08% in 2023[24]. - Basic earnings per share increased by 45.71% to 1.02 from 0.70 in 2023[24]. - The company reported a net profit of RMB 108,389,904.00 after deducting non-recurring gains and losses, a 47.85% increase from RMB 73,308,324.80 in 2023[24]. - Net profit attributable to shareholders rose by 51.87% to CNY 115,920,899.32 in 2024, compared to a growth of 109.01% in 2023[26]. - Operating revenue grew by 66.17% to CNY 1,001,592,071.53 in 2024, significantly up from a 22.54% increase in 2023[26]. - The company's net cash flow from operating activities turned negative at CNY -645,602.07 in 2024, a decline of 102.24% from CNY 28,794,396.89 in 2023[25]. - The current ratio improved by 43.65% to 2.83 in 2024, up from 1.97 in 2023[25]. - The company's earnings per share increased by 24.15% to CNY 5.45 in 2024, compared to CNY 4.39 in 2023[25]. - The total liabilities rose by 22.85% to CNY 335,786,790.26 at the end of 2024, compared to CNY 273,338,673.96 at the end of 2023[25]. - The company reported a significant increase in inventory turnover rate to 3.28 in 2024, up from 2.72 in 2023[26]. - The company's net profit retained increased by 52.97% to ¥301,016,899.53, reflecting strong operational performance[53]. - The company's operating revenue for 2024 reached ¥1,001,592,071.53, representing a year-on-year increase of 66.17% compared to ¥602,741,233.99 in 2023[60]. - The gross profit margin decreased to 21.66% in 2024 from 24.08% in 2023, indicating a decline in profitability despite increased revenue[60]. - The company reported a significant increase in operating profit, which rose by 43.72% to ¥122,489,383.84 in 2024[62]. - Cash flow from operating activities turned negative at -¥645,602.07, a decline of 102.24% from ¥28,794,396.89 in 2023[76]. Shareholder Information - The company’s total share capital is 155,154,500 shares, with no preferred shares issued[18]. - The largest shareholder, Chen Jing, holds 69,221,000 shares, representing 44.61% of the total shares[142]. - The company has a total of 8,186 shareholders, reflecting a diverse ownership structure[139]. - The total shareholding of the top ten shareholders amounts to 116,576,300 shares, representing 75.14% of the total shares[144]. - The largest shareholder, Xu Jingfeng, holds 16,462,000 shares, accounting for 10.61% of the total shares[143]. - The second-largest shareholder, Wenzhou Ju Yi Enterprise Management Partnership, holds 5,400,000 shares, which is 3.48% of the total shares[143]. - The company has strategic investors who acquired shares through public issuance, with a lock-up period of 12 months starting from November 11, 2024[145]. - The company has no pledges or judicial freezes on shares held by shareholders with over 5% ownership[145]. - The top ten shareholders have various familial relationships, indicating potential interconnectedness among them[144]. - The total number of shares held by the top ten shareholders is significantly concentrated, with the top three alone holding over 14% of the total shares[143]. Market and Product Focus - Juxing Technology's main products include electrical contacts and components, focusing on the electrical machinery and equipment manufacturing industry[18]. - The company continues to focus on the low-voltage electrical appliance industry, enhancing product performance and quality while reducing costs[43]. - The main products include electrical contacts and electrical contact components, with a focus on silver-based materials for low-voltage applications[44][45]. - The company employs a direct sales model, primarily targeting manufacturers in the low-voltage electrical appliance sector[38]. - The pricing model for products is based on "raw material price + processing fee," with processing fees determined by product type and complexity[39]. - The company’s products are widely used in various industries, including home appliances, industrial control, and electric vehicles, linking the industry cycle to national economic conditions[50]. - The company aims to become a "one-stop solution provider" for electrical contacts, focusing on expanding product varieties and applications while enhancing market share[115]. Research and Development - Research and development expenses surged by 74.58% to ¥37,738,868.55, reflecting the company's commitment to new product and technology development[62]. - The number of patents owned by the company increased to 46 from 43, with the number of invention patents rising to 9 from 6[93]. - The company has increased its R&D personnel from 52 to 59, maintaining a stable proportion of 9.70% of total employees[92]. - The company is engaged in developing new contact materials for magnetic latching relays, aiming to meet increasing performance requirements in the domestic power industry[94]. - The company is focusing on developing new technologies to enhance the market competitiveness of its silver-nickel materials[98]. - The company has committed to technological innovation and increasing R&D investment to meet customer needs and improve product quality[117]. Environmental and Social Responsibility - The company emphasizes green operations, implementing measures such as using water-based paints and replacing fuel forklifts with electric ones to reduce emissions[108]. - The company achieved a 100% compliance rate in occupational health checks, ensuring a safe working environment for employees[108]. - The company has integrated social responsibility into its operations, focusing on environmental protection and community support[107]. - The company has established a comprehensive environmental management system, ensuring compliance with pollution discharge standards and promoting waste recycling[111]. - The company actively participates in social welfare activities, including donations to the "Bright Charity·Gathering Star Public Welfare Fund" to enhance its social value[110]. Corporate Governance - The company has established a governance structure that includes a shareholders' meeting, board of directors, independent directors, supervisory board, and senior management[180]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with regulations[182]. - The company has established a system for independent directors to enhance decision-making efficiency and effectiveness[184]. - The company has implemented a rigorous internal control system for major decisions, ensuring compliance with legal procedures[187]. - The company has established a mechanism to ensure that minority shareholders can express their opinions and protect their legal rights[162]. - The company has not executed any profit distribution or capital reserve transfer to increase share capital during the reporting period[166]. Financial Commitments and Loans - The company reported a total loan amount of $30,000,000.00 for 2024, with a focus on continuous financial support[131]. - The company has allocated $9,000,000.00 for financial loans in 2024, indicating a strong commitment to funding[130]. - A total of $5,000,000.00 has been designated for financial loans in 2024, reflecting ongoing investment strategies[130]. - The company has pledged assets totaling 241,962,660.11, which accounts for 20.46% of total assets, including cash and fixed assets[135]. - The company’s fixed assets pledged amount to 131,846,774.54, which is 11.15% of total assets, used for bank acceptance[135]. - The company’s cash and receivables pledged total 82,032,537.96, representing 6.02% of total assets, enhancing liquidity for operations[135]. Risk Management - The company has no new major risk factors reported during the current period, indicating stability in the external operating environment[120]. - The company has a high concentration of suppliers for key raw materials like silver and copper, with the top five suppliers accounting for a significant portion of procurement, which could impact operations if supply issues arise[119]. - The company has no reported incidents of shareholders or related parties occupying or transferring company funds or assets during the reporting period[126]. - The supervisory board operated independently and did not identify any significant risks during its oversight activities[200].
聚星科技(920111) - 2024 Q4 - 年度财报