ZTT(SH:600522)2025-04-24 12:30Financial Performance - The company's operating revenue for 2024 reached ¥48,054,688,251.39, representing a 6.63% increase compared to ¥45,065,236,797.84 in 2023[19] - Net profit attributable to shareholders for 2024 was ¥2,837,918,547.87, a decrease of 8.94% from ¥3,116,575,027.83 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥2,545,189,422.98, down 4.78% from ¥2,672,907,438.36 in the previous year[19] - The cash flow from operating activities for 2024 was ¥4,130,470,815.93, a decline of 9.03% compared to ¥4,540,261,998.87 in 2023[19] - Total assets at the end of 2024 amounted to ¥58,324,381,816.14, reflecting a 6.57% increase from ¥54,730,839,119.86 in 2023[19] - Net assets attributable to shareholders reached ¥34,994,171,832.06, up 5.53% from ¥33,159,071,877.13 in 2023[19] - The basic earnings per share decreased by 8.54% to 0.835 RMB per share compared to 0.913 RMB in 2023[20] - The diluted earnings per share also fell by 8.87% to 0.832 RMB per share from 0.913 RMB in 2023[20] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥3.00 per 10 shares to all shareholders, with no stock issuance or capital reserve transfer planned for this year[3] - The company has implemented a three-year shareholder return plan (2024-2026) with a cumulative cash dividend of 2.111 billion RMB over the past three years, accounting for 66.81% of the average net profit during that period[82] - For 2024, the company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling approximately 1.019 billion RMB, which represents 35.92% of the net profit attributable to shareholders[83] - The company has completed four phases of share repurchase plans since 2018, with a total repurchase amount exceeding 620 million yuan, representing 1.94% of the total share capital[81] - The company is implementing a new round of share repurchase plan with a budget of 200 million to 400 million yuan, reflecting confidence in its stable growth[81] Research and Development - The company invested ¥1.94 billion in R&D, accounting for 4.04% of total revenue, with a total of 2,755 R&D personnel, representing 18.23% of the total workforce[168][169] - The company has received over 230 invention patent authorizations and submitted more than 500 domestic and PCT patent applications in 2024[138] - The company has launched 18 industrial data models and 7 operational management models to enhance manufacturing precision and decision-making capabilities[149] - The company has developed semi-solid state battery cells with capacities ranging from 100Ah to 230Ah, meeting international standards and passing UL1973 fire tests[146] - The company has established a lithium battery energy storage system supply chain, including key raw materials such as positive and negative electrode materials and copper foil[146] Market and Product Development - The company has approximately 31.2 billion RMB in orders in the energy network sector, with 13.4 billion RMB from marine series and 14 billion RMB from grid construction[28] - The company launched several new products, including a 500kV AC submarine cable and a ±550kV DC submarine cable, which have passed product certification[30] - The company has developed six new products and technologies in the power grid construction sector, with five achieving international leading levels and one reaching international advanced levels[41] - The company achieved a shipment volume of 7.17GWh in energy storage systems, ranking eighth globally among Chinese energy storage system companies[55] - The company has been recognized as a Tier 1 global energy storage manufacturer by Bloomberg in 2024, solidifying its position in the overseas renewable energy market[158] Environmental and Social Responsibility - The company is focusing on green and low-carbon transformation, integrating ESG concepts into its production processes to reduce carbon emissions[78] - The company aims to achieve carbon neutrality in operations by 2030, contributing to a reduction of over one million tons of emissions across the supply chain[89] - The company has received recognition for its rapid response during emergencies, such as the supply of critical materials during the Typhoon "Mojia" in September 2024, enhancing its reputation for corporate social responsibility[90] - The company is actively participating in the development of carbon footprint standards for electrical products, filling gaps in domestic standards in specific sectors[89] International Expansion and Market Presence - The company has established a global marketing strategy with 13 overseas marketing centers and over 40 overseas offices, exporting to more than 160 countries and regions[128] - The company has expanded its overseas market share by participating in various international power and renewable energy exhibitions, increasing its global brand recognition[46] - The company has maintained its position as a mainstream supplier in the international oil and gas industry, successfully delivering a 66kV long-length medium voltage submarine cable in Europe and a 230kV three-core long-length submarine optical-electrical composite cable project in the Middle East[38] - The company has successfully signed the largest submarine cable project in Vietnam's history, a long-length three-core submarine cable order[38] Technological Advancements - The company has made significant advancements in high-performance aluminum alloy and high-reliability fittings, achieving international leading technology in several projects[40] - The company is focusing on technology innovation in the telecommunications sector, achieving six new technology results, with two reaching international leading levels[63] - The company is advancing the development of advanced optical fiber products to meet the growing demands of data centers, significantly improving transmission capacity and performance[66] - The company successfully developed a new "13/8" frequency leakage cable, achieving ultra-wide frequency coverage of 700-3700MHz, leading the 5G leakage cable industry[68] Financial Management and Compliance - The audit report issued by Zhongxinghua Certified Public Accountants confirmed the accuracy and completeness of the financial statements[3] - The company has established a compliance management mechanism covering R&D, production, and sales processes, significantly improving compliance management levels[78] - The company’s financial activities saw a significant increase in dividend payouts to shareholders, impacting cash flow from financing activities[161] Industry Trends and Projections - The global offshore wind power market is expected to add 11.7 GW of new installed capacity in 2024, a 6% year-on-year increase, driven by projects in Europe and the Asia-Pacific region[92] - In 2024, China's offshore wind power industry is projected to add approximately 4.04 GW of new installed capacity, with significant projects planned for 2025 totaling around 46.7 GW[94] - The deep-sea oil and gas development sector is increasingly focusing on intelligent equipment, enhancing operational efficiency and safety[99] - The integration of oil and gas with new energy sectors is being actively explored, promoting comprehensive resource development and utilization[100]