Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.98 RMB per 10 shares to all shareholders, based on a total of 266,666,700 shares[4]. - The board of directors has approved a profit distribution plan, with no bonus shares to be issued[4]. - The company did not conduct cash dividends or stock distributions during the reporting period due to its IPO application[169]. - The profit distribution policy remains unchanged, focusing on balancing immediate and long-term interests of shareholders[169]. - The company is committed to a positive profit distribution policy post-IPO, adhering to the approved three-year dividend return plan[170]. - The total cash dividend amount is fixed, and any changes in the total share capital will adjust the distribution ratio accordingly[172]. - The cumulative undistributed profit as of December 31, 2024, is 330,775,091.32 CNY for the consolidated report and 189,131,322.50 CNY for the parent company[172]. Financial Performance - The company's operating revenue for 2024 reached ¥659,499,871.43, representing a 16.94% increase compared to ¥563,973,153.18 in 2023[20]. - The net profit attributable to shareholders for 2024 was ¥105,552,271.83, up 17.39% from ¥89,917,910.91 in 2023[20]. - The net cash flow from operating activities increased by 15.49% to ¥159,833,607.18 in 2024, compared to ¥138,390,599.68 in 2023[20]. - The total assets of the company as of the end of 2024 were ¥1,254,936,214.86, a 17.74% increase from ¥1,065,853,310.71 at the end of 2023[20]. - The basic earnings per share for 2024 was ¥0.53, reflecting a 17.78% increase from ¥0.45 in 2023[20]. - The company reported a weighted average return on equity of 11.67% for 2024, slightly up from 11.20% in 2023[20]. - The company achieved a revenue of ¥659,499,871.43, representing a year-on-year growth of 16.94%[65]. - Revenue from precision current sensing resistors was ¥412,473,491.28, with a year-on-year increase of 21.31%[65]. - The net profit attributable to shareholders was ¥105,552,271.83, reflecting a growth of 17.39% year-on-year[66]. - The overseas revenue increased by 36.71% to ¥217,586,502.63, indicating successful market expansion[68]. Market and Industry Position - The company operates in the electronic components industry, focusing on the design, research and development, manufacturing, and sales of current sensing precision resistors and fuses, with applications in consumer electronics and industrial sectors[32]. - The company has established a strong market position in the current sensing precision resistor segment, producing miniaturized products as small as 01005 inches (0402mm) and achieving a resistance value as low as 25μΩ with a precision of up to 0.1%[35]. - The demand for electronic components is expected to recover moderately in 2024, driven by the rise of AI, low-altitude economy, and robotics, alongside stable growth in industrial and IoT applications[34]. - The company aims to transition from a component supplier to a comprehensive solution provider by closely collaborating with industry-leading clients and adapting to market trends[36]. - The company’s products are widely used in various applications, including smartphones, laptops, and electric vehicles, indicating a broad market potential[41]. - The company has a competitive edge due to its technological advancements and strong brand recognition in both domestic and international markets[35]. - The company is actively expanding into emerging markets such as automotive electronics and industrial sectors, gaining recognition from global top clients[66]. Research and Development - The company holds 118 patents, including 24 invention patents, showcasing its strong R&D capabilities[61]. - The company utilizes a project-based R&D model, focusing on both proactive technology upgrades and customer-driven product development, enhancing its technical reserves and meeting diverse customer needs[56]. - The company increased its R&D personnel from 105 in 2023 to 130 in 2024, representing a growth of 23.81%[81]. - R&D investment amounted to ¥27,333,868.76 in 2024, accounting for 4.14% of total revenue, a slight decrease from 4.60% in 2023[81]. - The introduction of TMR current sensor modules is expected to open new revenue growth points, capitalizing on strong market demand and limited competition[104]. - The company has launched a new high-current miniaturized surface mount product, enhancing its competitive edge in the market[78]. - The company has developed a new high-power fuse for electric vehicles with specifications of 1500VDC@75KA, enhancing product competitiveness[79]. - The company has introduced a new current sensing resistor with a resistance range of 0.5mΩ to 1mΩ, achieving a temperature drift of ≤±100ppm/°C[79]. Risk Management - The company faces various risk factors that could impact its future development, as detailed in the management discussion and analysis section[4]. - The company faces risks from intensified market competition, currency fluctuations, and raw material price volatility, with strategies in place to mitigate these risks[112][113][114]. - The company faces risks related to the management of distributors, with a significant portion of revenue coming from this model, necessitating improved management systems[120]. - The company has established a tiered certification system for distributors and implemented a digital channel management system for real-time sales data monitoring[120]. - The company emphasizes the need for internal control management and compliance audits for overseas subsidiaries to mitigate risks from changing regulations[121]. Governance and Management - The company has not experienced any significant issues with its major shareholders or governance structure, ensuring compliance with relevant regulations[128]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[129]. - The company has a management team of 5 senior executives who are responsible for driving business development and achieving annual targets[132]. - The company maintains a commitment to protecting the rights of all stakeholders, ensuring a balanced approach to interests among shareholders, employees, and society[133]. - The company has implemented a strict internal audit system, enhancing governance and ensuring operational activities are conducted normally[134]. - The company has established connections with various investment platforms, enhancing its strategic positioning in the market[149]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 11.63 million yuan[156]. - The company has a remuneration and assessment committee to manage the compensation of directors and senior management[152]. Environmental Responsibility - The company reported that the total emissions of sulfur mist were below the standard limit of 30 mg/m3, with recorded values of 5.6 mg/m3 and 0 mg/m3 at different times[184]. - The concentration of hydrochloric acid emissions was recorded at 5.3 mg/m3, significantly below the standard limit of 30 mg/m3[184]. - The company achieved a total nitrogen discharge of 12.4 mg/L, which is above the standard limit of 20 mg/L, indicating a need for further monitoring[185]. - The chemical oxygen demand (COD) in wastewater was reported at 33 mg/L, exceeding the standard limit of 80 mg/L, suggesting effective treatment processes[185]. - The company has implemented a self-monitoring plan for emissions, with regular testing conducted by a third-party organization[186]. - The company has established an emergency response plan for environmental incidents, with biannual drills conducted for all employees[187]. - The company prioritizes environmental protection by strictly following industrial production environmental requirements and utilizing qualified third-party services for waste disposal[193]. - The company has actively participated in social welfare activities, including donations to improve the quality of life for the elderly and support rural education[194]. Employee Relations - The total number of employees at the end of the reporting period was 1,076, with 597 in major subsidiaries[165]. - The company has a total of 1,119 employees receiving compensation during the reporting period[165]. - The professional composition includes 673 production personnel, 75 sales personnel, 131 technical personnel, 39 financial personnel, and 158 administrative personnel[165]. - The educational background of employees shows 660 with below college education, 183 with college education, 209 with bachelor's degrees, and 24 with master's degrees[165]. - The company has established a competitive compensation management system to motivate employees and align their interests with the company's growth[166]. - An annual training plan is in place to develop talent in line with the company's strategic goals[167]. - The company has not engaged in labor outsourcing during the reporting period[168]. Shareholder Commitments - The company’s major shareholders have committed to a 36-month lock-up period for their shares following the IPO, ensuring stability in shareholding[198]. - The company plans to maintain its stock holdings long-term and will adhere to regulations regarding share reduction after the lock-up period[198]. - The actual controller, Yan Ruizhi, has committed to not transferring or entrusting the management of shares held prior to the public offering for 36 months from the listing date[199]. - The commitments made by shareholders will remain in effect regardless of any changes in their positions or employment status[200].
钧崴电子(301458) - 2024 Q4 - 年度财报