Nantong Chaoda Equipment (SZ:301186)2025-04-24 13:26Financial Performance - The company's operating revenue for 2024 reached ¥720,666,661.22, representing a 14.91% increase compared to ¥627,172,485.57 in 2023[16]. - The net profit attributable to shareholders for 2024 was ¥96,599,670.73, a slight increase of 1.24% from ¥95,417,330.46 in 2023[16]. - The net profit after deducting non-recurring gains and losses was ¥93,697,245.48, up 1.53% from ¥92,281,306.66 in 2023[16]. - The total assets at the end of 2024 were ¥2,127,798,798.26, reflecting a 3.77% increase from ¥2,050,512,195.90 at the end of 2023[16]. - The net assets attributable to shareholders increased by 14.57% to ¥1,437,894,419.93 from ¥1,255,055,643.99 in 2023[16]. - The company achieved a total revenue of ¥720,666,661.22 in 2024, representing a year-on-year increase of 14.91% compared to ¥627,172,485.57 in 2023[62]. - The revenue from molds was ¥422,520,041.20, accounting for 58.63% of total revenue, with a year-on-year growth of 17.84%[63]. - The company’s gross profit margin for the specialized equipment manufacturing industry was 33.46%, slightly down by 1.07% from the previous year[65]. - The company’s exports increased significantly, with foreign sales reaching ¥313,213,563.84, a 51.53% increase from ¥206,700,909.90 in 2023[63]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders, based on a total of 79,569,601 shares[3]. - The company has not proposed any bonus shares or capital increases for the current fiscal year[3]. - The 2024 cash dividend proposal is set at RMB 5.00 per 10 shares, amounting to RMB 39,784,800.50, with no stock dividends or capital reserve conversions planned[166]. - The total number of shares for the cash dividend distribution is based on 79,569,601 shares, with a total distributable profit of RMB 470,715,332.52[166]. Market and Industry Trends - The automotive mold industry is experiencing significant growth, driven by the rapid development of the automotive sector, with over 90% of automotive parts requiring mold formation[27]. - The global mold market is expected to maintain a high growth rate, with China's market size exceeding ¥100 billion annually[26]. - In 2024, China's automotive production and sales reached 31.282 million and 31.436 million units, respectively, with year-on-year growth of 3.7% and 4.5%[28]. - New energy vehicle (NEV) production and sales reached 12.888 million and 12.866 million units, with year-on-year growth of 34.4% and 35.5%[28]. - NEVs accounted for 40.9% of total new car sales, an increase of 9.3 percentage points from 2023[28]. - The automotive interior and exterior market is experiencing sustained growth due to increasing consumer demand for quality and aesthetics[34]. Research and Development - The company is focused on the research and development of new products and technologies to enhance its competitive position in the mold manufacturing industry[25]. - The company has completed several R&D projects, including a buffered core-pulling machine and a 3D printed sand mold casting process, aimed at improving production efficiency and product quality[73]. - The company aims to achieve full automation through advanced sensing technology in its new rapid positioning device for foam molds, enhancing sales channels[73]. - The company has developed a new product line in the automotive parts sector, specifically focusing on battery box molds for electric vehicles[62]. - The company’s R&D investment for 2024 amounted to ¥43,281,270.57, representing 6.01% of operating revenue, a decrease from 6.28% in 2023[77]. Operational Efficiency - The company adopts a "sales-driven production" model, ensuring efficient organization of production based on product orders[42]. - The company utilizes a manufacturing execution system to manage the entire production process, achieving full-process information management from order receipt to delivery[49]. - The company has established a comprehensive computer information network and customized a manufacturing execution system to enhance operational efficiency[59]. - The company has enhanced its integrated service capability in molds, inspection tools, and automation equipment, with increasing sales of complex automotive main model inspection tools[56]. Risk Management - The company has outlined potential risk factors in its annual report, emphasizing the importance of investor awareness regarding these risks[3]. - The company faces risks from economic cycles and the automotive industry's development, which could affect demand for automotive molds; it plans to monitor industry changes and adjust operations accordingly[111]. - The company is exposed to raw material price fluctuations, with direct material costs being significant; it will establish strategic partnerships with suppliers and implement measures to mitigate price risks[112]. - The company recognizes the risk of technological innovation and will focus on low-risk technology projects while diversifying its innovation portfolio to reduce overall risk[113]. - The company has a foreign exchange risk due to 43.46% of its revenue coming from exports; it will enhance cooperation with financial institutions to manage exchange rate fluctuations[114]. Governance and Compliance - The company emphasizes information disclosure, ensuring that all shareholders have equal access to information through designated newspapers[124]. - The internal audit system is strictly implemented, enhancing operational management and risk control[126]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations[127]. - The governance structure is continuously improved to meet the requirements of relevant laws and regulations[119]. - The company has established measures to ensure complete independence in assets, personnel, finance, and operations from specific enterprises associated with its controlling shareholders[195]. Employee Development and Management - The company has established an internship base in collaboration with higher education institutions to cultivate and reserve professional technical talent[163]. - The company emphasizes employee development through various training programs, including onboarding and departmental training[163]. - The total number of employees at the end of the reporting period is 1,190, with 1,006 in the parent company and 184 in major subsidiaries[161]. - The professional composition includes 800 production personnel, 47 sales personnel, 234 technical personnel, 11 financial personnel, and 98 administrative personnel[161]. Strategic Planning and Future Outlook - The company aims to become an internationally leading manufacturer of non-standard equipment for the automotive industry, surpassing domestic peers[103]. - The company plans to continue expanding its market presence and enhancing its product offerings[138]. - The company has set a performance guidance of 1.8 billion yuan for the next fiscal year, reflecting a growth target of 20%[149]. - The company plans to conduct financial derivative trading as part of its strategy[158]. - The company will implement a brand promotion strategy to build a well-known mold brand in domestic and international markets, enhancing its reputation[110].