Rocoi(SH:603829)2025-04-24 13:15Financial Performance - The company's operating revenue for 2024 reached RMB 2,131,403,047.54, representing an increase of 8.51% compared to RMB 1,964,287,071.53 in 2023[22] - The net profit attributable to shareholders for 2024 was RMB 126,173,589.84, up 15.81% from RMB 108,948,843.27 in 2023[22] - The net cash flow from operating activities decreased by 72.68% to RMB 59,490,710.12 from RMB 217,719,550.49 in 2023[22] - The total assets of the company increased by 36.61% to RMB 3,354,789,821.83 at the end of 2024, compared to RMB 2,455,757,249.41 at the end of 2023[22] - The basic earnings per share for 2024 was RMB 0.79, reflecting a growth of 16.18% from RMB 0.68 in 2023[23] - The weighted average return on equity increased to 12.66% in 2024, up from 12.17% in 2023, an increase of 0.49 percentage points[23] Cash Dividends - The company plans to distribute a cash dividend of RMB 1.25 per 10 shares, totaling RMB 20,000,000.00[6] - The cash dividend amount for the last fiscal year was RMB 20,000,000, representing 15.85% of the net profit attributable to ordinary shareholders[131] - Over the last three fiscal years, the cumulative cash dividend amount was RMB 52,000,000, with an average cash dividend ratio of 50.24%[133] Research and Development - The company has established a robust technology R&D system, enhancing its core competitiveness through innovation and technical reserves[54] - The company is investing $50 million in new product development, focusing on innovative technologies to enhance customer experience[103] - Research and development expenses were ¥109,235,495.05, showing a slight decrease of 0.49% from the previous year[60] - The number of R&D personnel was 449, representing 22.29% of the total workforce, with 7 holding master's degrees[70] - The company has maintained a high level of R&D investment in recent years and plans to continue increasing this investment to enhance product innovation capabilities and strengthen its leading position in the mid-to-high-end market[88] Market Expansion and Product Development - The company plans to expand its market presence by entering three new regions by the end of 2025, aiming for a 15% increase in market share[102] - The company focused on developing new products for medium and low-voltage circuit breakers, achieving significant results with some products already launched in the market[32] - The company expanded its wind power circuit breaker product line to meet the growing demand in the renewable energy sector[33] - The company developed new low-voltage circuit breakers with specifications of 2500A and 4000A, aiming to establish the CKW65A series as a leading product in the industry[35] Financial Management and Governance - The total compensation for the board members during the reporting period amounted to 494.61 million CNY[99] - The company has a structured decision-making process for the remuneration of directors and senior management, involving a compensation and assessment committee[107] - The company has established specialized committees, including the audit, nomination, compensation, and strategic committees[112][113] - The company has maintained a stable board structure with no new appointments or resignations reported in the current period[99] Compliance and Risk Management - The company has committed to ensuring compliance with securities laws and regulations, enhancing awareness of compliance and risk management among its management team[154] - The company has taken corrective measures in response to a regulatory notice regarding the use of raised funds, including training on relevant laws and internal management systems[154] - The company recognizes risks associated with macroeconomic changes and raw material price increases that could affect market demand and profitability[86] Shareholder Information - The total number of ordinary shareholders increased from 10,385 to 11,377 during the reporting period[181] - The top three shareholders are Changzhou Luohui Investment Co., Ltd. (22.44%), Changzhou Luoteng Investment Co., Ltd. (20.19%), and Changzhou Luosheng Investment Partnership (12.13%)[186] - The company does not have any controlling shareholders, as indicated in the report[185] Convertible Bonds - Jiangsu Luokai Electromechanical Co., Ltd. issued convertible bonds totaling RMB 403.431 million on October 17, 2024, with a net fundraising amount of RMB 394.7988 million after deducting issuance costs[196] - The number of convertible bondholders at the end of the reporting period was 5,815[197] - The largest holder of convertible bonds, Changzhou Luohui Investment Co., Ltd., held RMB 90.504 million, representing 22.43% of the total[197] Environmental and Social Responsibility - The company invested 634,200 CNY in environmental protection during the reporting period[138] - The company implemented carbon reduction measures, resulting in a decrease of 1,497 tons of CO2 equivalent emissions[139] - The company made a total donation of 245,000 CNY to public welfare projects during the reporting period[139]