Junhe(SH:603617)2025-04-24 13:10Financial Performance - The company's operating revenue for 2024 reached ¥1,111,028,051.42, representing a 54.62% increase compared to ¥718,551,780.39 in 2023 [22]. - Net profit attributable to shareholders increased by 116.96% to ¥79,448,094.71 from ¥36,619,184.77 in the previous year [24]. - The net profit after deducting non-recurring gains and losses surged by 725.85% to ¥73,363,526.27, up from ¥8,883,403.10 in 2023 [22]. - Basic and diluted earnings per share rose by 110.00% to ¥0.21, compared to ¥0.10 in 2023 [23]. - The weighted average return on equity increased to 5.49%, up by 2.96 percentage points from 2.53% in 2023 [23]. - Total assets grew by 13.26% to ¥2,393,850,645.06 from ¥2,113,676,027.08 in 2023 [22]. - The net assets attributable to shareholders increased by 6.34% to ¥1,495,248,829.99, compared to ¥1,406,151,094.07 in 2023 [22]. - The gross margin for the manufacturing sector improved by 5.50 percentage points, reaching 23.88% [78]. - The sales revenue from submersible pumps was 805,559,544.89 CNY, with a gross margin of 25.19%, reflecting a year-on-year increase of 6.30 percentage points [78]. Dividend Policy - The company plans to distribute a cash dividend of 0.08 CNY per share, totaling approximately 31.24 million CNY, which represents 39.32% of the net profit attributable to shareholders for the year [6]. - The cumulative cash dividends over the last three fiscal years amounted to CNY 58,553,100.55, exceeding the average annual net profit of CNY 56,631,297.24, resulting in a cash dividend ratio of 103.39% [177]. - The company aims to maintain a continuous and stable profit distribution policy to ensure reasonable returns for shareholders [171]. - The cash dividend policy is in compliance with the company's articles of association and has clear standards and procedures [172]. - The company plans to distribute cash dividends of no less than 10% of the distributable profits each year from 2022 to 2024, with a cumulative total of at least 30% over the three years [171]. Corporate Governance - The company has established a comprehensive internal control management system to ensure effective financial reporting and compliance with regulations [139]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements [134]. - The company’s board and supervisory board operate independently, ensuring no interference from controlling shareholders [138]. - The company held its 2023 annual general meeting on May 17, 2024, where several key financial reports and proposals were approved, including the 2023 financial settlement report and the 2024 financial budget report [138]. - The company’s management received a total pre-tax remuneration of 545,000 yuan during the reporting period, excluding stock incentive payments [142]. Market Expansion and Product Development - The company is focusing on expanding its market presence in Southeast Asia and enhancing its product development capabilities for emerging markets [35]. - The company plans to expand its product offerings by developing new generation household and commercial water pumps, leveraging its technological and brand advantages [64]. - The company launched several new products, including the WQD sewage pump and QDX6-15-0.55PH265 high-lift clean water pump, enhancing efficiency and performance [36]. - The company achieved operating revenue of 1,111.03 million yuan in 2024, a year-on-year increase of 54.62% [32]. - The company plans to pursue mergers and acquisitions in the domestic household water pump market to strengthen its market position [120]. Environmental and Social Responsibility - The company invested RMB 997,100 in environmental protection during the reporting period [187]. - The company implemented carbon reduction measures, reducing carbon dioxide equivalent emissions by 2,995.49 tons [189]. - The company’s products have obtained ISO14067 and ISO14064 certifications, indicating compliance with environmental standards [189]. - The total donation amount was 250,000 CNY, specifically donated to the Ningbo Charity Federation [190]. - The company has not disclosed a separate social responsibility report or ESG report [190]. Risk Management - The company has implemented measures to mitigate exchange rate risks, including settling transactions in RMB with key clients and engaging in forward foreign exchange contracts [131]. - The company faces uncertainty in its North American market expansion due to potential escalations in U.S.-China trade tensions and domestic trade protection policies [127]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [188]. - The company has ensured that any unavoidable related transactions will be conducted on a fair and equitable basis [193]. Research and Development - The total R&D expenditure for the period was CNY 27,096,220.45, accounting for 2.44% of the operating revenue [87]. - The company has 91 R&D personnel, representing 8.22% of the total workforce [88]. - During the reporting period, the company developed 9 projects, successfully completed 7 results transformations, and applied for 25 patents, including 8 invention patents [89]. - As of December 31, 2024, the company holds a total of 228 patents, including 25 invention patents and 104 utility model patents, showcasing its strong R&D capabilities [65][66]. Investor Relations - The company actively engaged with investors, conducting multiple performance briefings and releasing the "Quality Improvement and Return Action Plan" in June 2024 [39]. - The company has taken steps to ensure the independence of its operations from its controlling shareholder, including maintaining independent asset and personnel management [137]. - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The company has not experienced any significant internal control deficiencies in financial reporting during the reporting period [139].