JINTUO TECHNOLOGY CO.(SH:603211)2025-04-24 13:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 50,071,290.24 in 2024, a decrease of 2.83% compared to RMB 51,531,462.12 in 2023[6]. - Operating revenue for 2024 was RMB 1,175,694,937.82, representing a 17.20% increase from RMB 1,003,172,732.10 in 2023[23]. - The basic earnings per share for 2024 was RMB 0.18, down 5.26% from RMB 0.19 in 2023[24]. - The company reported a net profit excluding non-recurring gains and losses of RMB 48,078,238.72 in 2024, a decline of 4.97% from RMB 50,594,766.22 in 2023[23]. - The weighted average return on equity decreased by 0.26 percentage points to 4.28%[25]. - The net profit attributable to shareholders for Q1 2024 was CNY 19,492,962.35, while Q2 was CNY 10,824,379.88, Q3 was CNY 12,753,262.70, and Q4 was CNY 7,000,685.31[26]. Assets and Liabilities - The net assets attributable to shareholders increased by 3.05% to RMB 1,188,874,081.66 at the end of 2024, compared to RMB 1,153,636,318.49 at the end of 2023[23]. - Total assets rose by 10.22% to RMB 1,914,290,463.13 at the end of 2024, up from RMB 1,736,716,750.85 at the end of 2023[23]. - The company's liabilities totaled CNY 713.46 million, a year-on-year increase of 25.28%[46]. Cash Flow - Cash flow from operating activities decreased significantly by 63.36% to RMB 17,203,299.87 in 2024, compared to RMB 46,953,694.97 in 2023[23]. - The net cash flow from operating activities for Q2 2024 was -CNY 24,394,734.70, indicating a significant cash outflow during that period[26]. - The net cash flow from operating activities decreased due to a reduction in tax refunds received during the period[51]. - Cash flow from investing activities was negative at ¥-47,550,325.29, reflecting a decrease in long-term asset purchases[74]. - Cash flow from financing activities surged by 5,215.76% to ¥72,095,687.74, primarily due to an increase in discounted notes receivable[74]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares, totaling RMB 16,308,500 (including tax), which corresponds to a cash dividend payout ratio of 32.57%[6]. - The cumulative cash dividend amount over the last three accounting years is approximately 53.00 million RMB, with an average cash dividend ratio of 95.37% relative to the average net profit of approximately 55.58 million RMB[138]. - The company has established a cash dividend policy, stipulating that at least 10% of the distributable profit should be distributed in cash if conditions are met[131]. Research and Development - The company achieved multiple technological breakthroughs in core components for new energy vehicles and intelligent driving systems[34]. - The company's R&D expenses amounted to CNY 54.94 million, an increase of 15.56% year-on-year[47]. - The company completed the construction of its R&D center, enhancing its independent research and development capabilities[35]. - Total R&D investment accounted for 4.67% of operating revenue, with no capitalized R&D expenditures reported[69]. - The company employed 182 R&D personnel, representing 13.19% of the total workforce[70]. Market and Sales Performance - The company's sales revenue increased by 17.20% year-on-year[34]. - The sales volume of new energy vehicles in China reached 12.89 million units, a year-on-year increase of 34.4%[39]. - The sales volume of passenger cars from independent brands was 17.97 million units, a year-on-year increase of 23.1%, accounting for 65.2% of total passenger car sales[38]. - The company achieved a main business revenue of 1,146.14 million RMB, an increase of 16.64% compared to the same period last year[55]. Expansion and Subsidiaries - The company established subsidiaries in Mexico to support global expansion and improve supply capabilities[35]. - The company established JINTUO ZHI SHENG TECHNOLOGY MEXICO with a registered capital of 100,000 Mexican Pesos, where the company holds a 99% stake[62]. - The construction of the company's production base in Mexico is progressing smoothly, which is expected to enhance global supply capabilities and competitiveness upon commencement of operations[92]. Environmental and Social Responsibility - The company has invested approximately 892.48 thousand RMB in environmental protection during the reporting period[145]. - The company has implemented effective measures to manage and prevent environmental issues, achieving ISO14001 environmental management system certification[147]. - The company has engaged in various charitable activities, contributing a total of 60,000 CNY to poverty alleviation and rural revitalization projects[153]. - The company has committed 60,000 CNY to educational support for Mengpang Middle School in Mengla County, Yunnan Province[153]. Risks and Challenges - The company faces risks from cyclical fluctuations in the automotive industry, which could adversely affect production and profitability if global or domestic economic conditions worsen[95]. - A significant portion of the company's export business is exposed to currency fluctuations, particularly between the RMB and USD/EUR, which could impact sales revenue and financial costs[96]. - Increased market competition is a risk as global automotive aluminum component manufacturers expand capacity, necessitating continuous improvement in market development and product innovation[98]. Corporate Governance - The total remuneration for all board members and supervisors during the reporting period amounts to 4,441,700 RMB[106]. - The company has established a remuneration decision-making process for directors and senior management based on national policies and market competition[113]. - The company has implemented a training program for employees, focusing on various aspects such as corporate culture, professional skills, and safety[129]. Compliance and Regulations - The company has established a robust internal control system that complies with relevant regulations and has been audited, receiving a standard unqualified opinion[144]. - The company has not encountered any issues with guarantees or non-standard audit opinions during the reporting period[177]. - The company is committed to maintaining compliance with all relevant stock exchange regulations[157].