Jiangsu Yunyong Electronics and Technology (SH:688060)2025-04-24 13:25Financial Performance - The company achieved operating revenue of 296.9771 million yuan, an increase of 5.18% compared to the same period last year[7]. - The net profit attributable to the parent company was -35.0931 million yuan, with a net profit excluding non-recurring gains and losses of -38.4560 million yuan[7]. - The company achieved operating revenue of CNY 296,977,118.07 in 2024, representing a 5.18% increase compared to CNY 282,358,687.68 in 2023[25]. - The net profit attributable to shareholders of the listed company was CNY -35,093,133.99 in 2024, a significant decline from CNY -6,746,696.03 in 2023[25]. - The net profit after deducting non-recurring gains and losses was CNY -38,456,031.49 in 2024, compared to CNY -9,004,445.85 in 2023[25]. - The company reported a cash flow from operating activities of CNY 39,736,699.18, a recovery from CNY -39,439,650.13 in the previous year[25]. - The company’s core business and financial indicators have not experienced significant adverse changes, indicating stable business conditions[8]. - The company reported a total revenue of 9,200,000.00, with a net profit of 4,363,707.30, indicating a strong performance in the latest quarter[95]. - The company reported a total revenue of 134.6 million RMB, with a net profit of 66.19 million RMB, representing a significant increase from the previous period[102]. Research and Development - R&D expenses increased by 2.86% year-on-year due to accelerated technology and product development in key business areas[7]. - Research and development expenses accounted for 22.29% of operating revenue in 2024, slightly down from 22.79% in 2023[26]. - The company maintained a high level of R&D investment, focusing on key technology directions and achieving product development based on market demand, including embedded platforms and energy management systems[40]. - R&D expenses accounted for 22.29% of operating revenue, with a total of 13 new authorized invention patents and 27 new software copyrights granted during the reporting period[44]. - The total investment in R&D for the year reached ¥66,186,687.49, representing a 2.86% increase from the previous year, while the R&D investment as a percentage of revenue decreased by 0.5 percentage points to 22.29%[90]. - The number of R&D personnel increased to 181, accounting for 42.39% of the total workforce, up from 42.27% in the previous period[105]. - The total compensation for R&D personnel was 52.62 million RMB, with an average salary of 29.07 thousand RMB, slightly down from 29.75 thousand RMB last period[105]. Operational Costs - Manufacturing costs increased by 54.85% year-on-year due to higher depreciation and material usage following the completion of the "Domestic Autonomous and Controllable Platform Construction Project"[7]. - The company experienced a 54.85% increase in manufacturing costs due to higher depreciation and material usage[27]. - The company’s gross margin remained stable despite a 54.85% increase in manufacturing costs due to fixed asset depreciation and material usage[130]. - Operating costs rose to 211.22 million RMB, reflecting a 5.04% increase compared to the previous year[128]. - Direct material costs accounted for 87.95% of total costs, a decrease of 1.22% compared to the previous year, primarily due to effective cost control measures[140]. - Direct labor costs increased by 5.74% to 11,584,869.77, representing 6.99% of total costs, attributed to revenue growth[140]. - Manufacturing expenses rose significantly by 53.24% to 8,389,043.63, driven by increased depreciation of fixed assets and material usage[140]. Market Focus and Strategy - The company is focusing on key business directions such as information technology application innovation and new energy[7]. - The company plans to continue expanding its market presence and investing in new technologies and products[7]. - The company is focusing on key business areas such as power informationization, domestic substitution, and new energy storage, with a commitment to increasing R&D investment[43]. - The company is actively optimizing its organizational structure to enhance management levels and improve core competitiveness[45]. - The company is focusing on market expansion through strategic partnerships and collaborations, particularly in the energy and IT sectors, to enhance its competitive edge[96]. - The company is exploring expansion into non-electric sectors, such as energy and finance, but faces uncertainties and potential risks in these areas[118]. Product Development and Innovation - The company has developed a multi-functional integrated communication gateway product based on the RK3568J and E2000Q platforms, which supports automatic power control for distributed photovoltaic systems under 10 kV[49]. - The company has launched a smart archive management platform that integrates various functions for power supply stations, enhancing operational efficiency and security[53]. - The company’s new products include a low-power IoT-based environmental control system that improves monitoring precision and reduces risks in storage environments[54]. - The company is developing a zero-trust edge computing security platform that covers seven different security dimensions, enhancing overall system security[98]. - The company is focusing on developing a series of products for distribution network security, including intelligent monitoring devices and edge computing gateways[181]. - The company has launched several core products in the power sector, including a domestic network communication hardware platform and a network security situation awareness system, which are widely used in major state-owned power companies[76]. Governance and Management - The company held 3 shareholder meetings during the reporting period, ensuring all shareholders, especially minority shareholders, could fully exercise their voting rights[185]. - The board of directors convened 7 times, with specialized committees meeting to provide consultation on major decisions, ensuring professional and efficient decision-making[185]. - The company’s governance structure complies with relevant laws and regulations, ensuring the protection of shareholder rights[184]. - The company has not faced any penalties from securities regulatory authorities in the past three years[198]. - The company approved the 2024 annual supervisor remuneration plan[188]. - The company’s total shares held by management remained unchanged during the reporting period[191]. Financial Management - The company plans to use part of the oversubscribed funds to permanently supplement working capital[188]. - The company has proposed a three-year shareholder return plan for 2024-2026, reflecting a commitment to enhancing shareholder value[199]. - The company is seeking a comprehensive credit facility from banks, which may support future growth initiatives[200]. - The company has reported on the actual use of raised funds, ensuring transparency and accountability in financial management[200]. - The company’s total assets decreased by 60.29% to 33.57 million RMB, primarily due to cash outflows for operational expenses and investment management[158].