HHI(SH:601226)2025-04-24 14:05Financial Performance - In 2024, the company achieved operating revenue of RMB 7,541,212,557.01, representing a 5.11% increase compared to RMB 7,174,495,440.98 in 2023[23] - The net profit attributable to shareholders of the listed company for 2024 was RMB 115,177,946.12, an increase of 18.11% from RMB 97,517,652.67 in 2023[23] - The net profit after deducting non-recurring gains and losses was RMB 80,491,083.92, up 24.48% from RMB 64,663,140.83 in the previous year[23] - The net cash flow from operating activities decreased by 29.77% to RMB 325,022,584.22 from RMB 462,789,242.21 in 2023[23] - As of the end of 2024, the total assets amounted to RMB 11,310,051,311.24, a decrease of 1.84% from RMB 11,522,310,658.00 at the end of 2023[23] - The net assets attributable to shareholders of the listed company increased by 2.20% to RMB 4,281,496,321.81 from RMB 4,189,446,175.30 in 2023[23] - The company reported a retained earnings balance of RMB 114,074.89 million as of December 31, 2024, down from RMB 116,510.58 million at the beginning of the year[6] - The basic earnings per share increased by 18.36% to 0.0993 RMB per share compared to the previous year[24] - The diluted earnings per share rose by 17.98% to 0.0991 RMB per share year-over-year[24] - The company achieved a significant improvement in cash flow and reduced financial expenses, enhancing its value creation capability[36] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.34 per 10 shares, totaling RMB 3,966.44 million, which accounts for 34.44% of the net profit attributable to the parent company[6] Market Activity and Contracts - New signed sales contracts reached a historical high of 14.272 billion RMB, marking a significant increase in market activity[34] - The company signed its largest contract in recent years for a petrochemical material storage and transportation project, enhancing its competitive advantage[34] - The company has signed contracts for various steel structure projects, including the construction of the first steel structure cooling tower in China, establishing a strong market position in this sector[49] - The company has secured contracts for wind power tower projects, contributing to the stability of profits in the wind power tower segment[50] - The company has signed contracts for heavy steel structure projects related to boiler structures, indicating a strong presence in the electric power industry[51] Technological Advancements and Innovations - The company has developed 173 authorized patents for new smart port products, including 39 domestic invention patents and 11 international invention patents[42] - The company has successfully completed key projects, including the first domestic single-stack megawatt PEM electrolyzer and the largest off-grid hydrogen production project in China[36] - The company has developed key technologies for offshore wind power construction, winning multiple awards, including the first prize of the China Electric Power Science and Technology Award for its research on large-diameter single pile foundations[55] - The company has developed multiple key technologies for hydrogen production, including high-performance gas diffusion layers and advanced alkaline electrolysis systems[173] - The company has achieved mass production of large-scale alkaline and PEM electrolysis hydrogen production systems, ensuring key technical indicators such as hydrogen production capacity and electrolysis efficiency meet international advanced levels[174] Environmental and Safety Initiatives - The company implemented a three-year action plan for safety production, achieving zero accidents for the year[38] - The company received multiple environmental certifications, including "Green Factory" and "Waste-Free Factory" titles[38] - The company has signed contracts for multiple environmental projects, including ash storage facilities for power plants, addressing regulatory requirements for waste management[101] Strategic Expansion and Market Development - The company is focusing on expanding its new energy business and has signed multiple contracts in this sector, including a 200MW tidal photovoltaic project[34] - The company is actively pursuing projects along the Belt and Road Initiative, expanding its international footprint in material handling system EPC projects[80] - The company is focusing on green development and expanding into offshore wind power and photovoltaic businesses[164] - The company plans to enhance its market expansion efforts in the hydrogen energy sector, focusing on integrated projects in new energy and hydrogen storage[198] Research and Development - The company has filed multiple patents for innovative technologies, including a proton exchange membrane hydrogen permeation testing method scheduled for release on February 6, 2024[12] - The company is developing a dynamic synthesis green ammonia system for hydrogen production, expected to be patented by March 22, 2024[22] - The company is working on a coal cleaning system for coal bridges, with a patent application due by May 3, 2024, reflecting ongoing innovation in material handling[35] Industry Trends and Government Policies - The National Development and Reform Commission (NDRC) has raised the target for new energy storage development from 30GW to over 40GW by 2025, reflecting the government's strong emphasis on the storage industry[68] - The government is promoting the integration of new energy storage technologies and the development of a new power system, emphasizing the importance of energy storage in stabilizing the grid[68] - The Chinese government aims to promote the development of offshore wind power and renewable energy, with a focus on deep-sea and far-offshore projects[74] Operational Efficiency and Cost Management - The company’s procurement strategy includes competitive negotiation, inquiry procurement, and framework procurement, ensuring cost control and quality assurance[88][96] - The company has set a target to reduce production costs by 5% through improved operational efficiencies and supply chain optimizations[110] International Trade and Economic Indicators - In 2024, China's total import and export value reached 43.85 trillion yuan, a 5% increase year-on-year, marking a historical high[133] - China's export scale surpassed 25 trillion yuan for the first time, reaching 25.45 trillion yuan, a 7.1% increase year-on-year, with significant growth in exports to ASEAN (13.4%) and Belt and Road countries (9.6%)[136] - The overall industrial production in China increased by 5.8% in 2024, with 39 out of 41 major industries showing growth[131]