Intretech(002925)2025-04-24 12:30Financial Performance - In 2024, the company achieved operating revenue of 3.573 billion yuan, a decrease of 7.45% year-on-year, and a net profit attributable to shareholders of 252 million yuan, down 44.17% year-on-year[3]. - The company's revenue for 2024 was CNY 3,572,760,316.40, a decrease of 7.45% compared to CNY 3,860,199,898.85 in 2023[31]. - Net profit attributable to shareholders for 2024 was CNY 251,524,608.28, down 44.17% from CNY 450,510,844.03 in 2023[31]. - The net cash flow from operating activities decreased by 37.44% to CNY 431,286,768.83 in 2024 from CNY 689,418,888.12 in 2023[31]. - Basic earnings per share for 2024 were CNY 0.33, a decline of 43.10% compared to CNY 0.58 in 2023[31]. - Total assets at the end of 2024 were CNY 6,862,137,633.57, a decrease of 6.86% from CNY 7,367,542,271.70 at the end of 2023[31]. - The company's net assets attributable to shareholders decreased by 7.70% to CNY 4,645,446,502.51 at the end of 2024 from CNY 5,033,054,887.32 at the end of 2023[31]. - The company reported a significant drop in the weighted average return on equity to 5.21% in 2024, down 3.53 percentage points from 8.74% in 2023[31]. - The company experienced a decline in non-recurring gains and losses, with a total of CNY 13,438,922.54 in 2024 compared to CNY 63,839,735.96 in 2023[36]. Business Segments and Growth - The company continued to strengthen its UDM smart manufacturing business, with notable growth in electric bicycles, office and simulation control, and audio products, while the electronic cigarette production capacity gradually increased in the second half of the year[4]. - The UDM intelligent manufacturing business saw revenue from intelligent control components at 1.145 billion yuan, a decline of 13.96%, while revenue from innovative consumer electronics was 1.137 billion yuan, down 1.55%[113]. - The automotive electronics business generated sales revenue of 614 million yuan, reflecting a growth of 19.43% year-on-year, driven by the increasing adoption of innovative automotive electronic products[117]. - The company will continue to develop its multi-business segments, particularly in automotive electronics and health environments, to achieve stable growth in operating performance[10]. - The company aims to enhance its market share in the smart controller sector by leveraging its strong R&D capabilities and quality control[45]. - The company plans to expand its product offerings in key application areas of smart controllers to improve competitive positioning[45]. - The health environment business focuses on products like air purifiers and humidifiers, emphasizing technology innovation to enhance human health[81]. - The company achieved a revenue of 177 million yuan in the health environment business, a year-on-year decline of 53.14% due to intensified market competition and downstream customer inventory issues[120]. Research and Development - Investment in R&D increased by 30%, focusing on the development of AI technologies and smart manufacturing systems[25]. - The company invested 342 million yuan in R&D, accounting for 9.58% of total revenue, and added 141 new patents during the reporting period[125]. - The number of R&D personnel increased to 1,451 in 2024, a growth of 6.07% compared to 1,368 in 2023[160]. - R&D investment amounted to ¥342,314,955.45 in 2024, a decrease of 5.40% from ¥361,840,469.93 in 2023, while the R&D investment as a percentage of operating revenue rose to 9.58%[160]. - The company is focusing on AI-based development to enhance production efficiency, product quality, and management levels, targeting a 5% error margin in quantitative product technology development[157]. Market Expansion and Strategy - The company is advancing its "big triangle + small triangle" international layout, with operational bases in Malaysia and Hungary that have been running for nearly ten years, capable of meeting existing customer needs and accommodating new orders[4]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[25]. - The company is implementing a global marketing plan to integrate resources across markets, which is expected to improve operational efficiency by 15%[25]. - The company aims to enhance its competitive advantages through smart manufacturing, vertical integration, and international expansion strategies[115]. - The company emphasizes the importance of international market expansion and collaboration with leading brands to enhance product delivery and customer satisfaction[199]. Product Development and Innovation - The company launched several new products, including a new type of plant growing machine and a commercial water purifier, to meet consumer demands[120]. - The company is actively cultivating its smart home business, offering comprehensive smart home solutions that integrate various interactive experiences for users[87]. - The company is developing a multi-dimensional environmental control technology to enhance its competitive edge in smart environment control solutions[159]. - The company is focusing on low-code development platforms to enhance digital transformation for manufacturing enterprises and small to medium-sized businesses[159]. - The company is committed to continuous innovation in smart health and medical product development to solidify its market position and explore new business opportunities[158]. Financial Management and Investments - The company plans to distribute a cash dividend of 3 yuan per 10 shares (including tax) to all shareholders, with no bonus shares issued[12]. - A total of 449 million RMB in cash dividends was distributed to shareholders during the reporting period, with cumulative dividends since listing reaching 3.583 billion RMB[136]. - The average cash dividend payout ratio over the years has been 60.48%[136]. - The company has made significant non-equity investments, including CNY 264.57 million in the expansion of the Zhangzhou Intelligent Manufacturing Industrial Park and CNY 150.75 million in the second phase of the Malaysia Intelligent Manufacturing Industrial Park[179]. - The company has established a comprehensive risk management system for foreign exchange hedging, including measures to mitigate market, liquidity, credit, operational, and legal risks[184]. Sustainability and Corporate Responsibility - The company is committed to sustainable development, successfully passing SBTi carbon target verification and launching a circular glass bottle water product[137]. - The company is committed to building a learning organization and improving its talent training system to attract and retain skilled personnel[109]. - The company emphasizes quality control throughout the product lifecycle, utilizing its ITTS testing system to ensure high-quality standards[104]. - The company has received multiple honors, including being recognized as a National Technology Innovation Demonstration Enterprise and a National Intelligent Manufacturing Demonstration Factory[95].