NovelBeam Technology(SH:688677)2025-04-24 14:10Financial Performance - The company's operating revenue for 2024 was CNY 442,830,242.88, a decrease of 5.90% compared to CNY 470,597,324.29 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 135,348,545.12, down 7.11% from CNY 145,712,648.46 in 2023[23]. - The net cash flow from operating activities decreased by 28.96% to CNY 112,322,742.56 in 2024, compared to CNY 158,117,742.52 in 2023[23]. - The basic earnings per share for 2024 was CNY 1.12, a decrease of 6.67% from CNY 1.20 in 2023[24]. - The company achieved operating revenue of 442.83 million yuan, a decrease of 5.90% compared to the previous year[140]. - Net profit attributable to shareholders was 135.35 million yuan, a decline of 7.11% year-on-year[140]. Dividend and Share Buyback - The company plans to distribute a cash dividend of 6.00 RMB per 10 shares, totaling approximately 71,422,200 RMB (including tax) based on the remaining shares after buyback[5]. - The total amount for cash dividends and share buybacks is 119,072,568.21 RMB, which represents 87.97% of the net profit attributable to shareholders for the year[5]. - The amount for share buybacks and cancellations is 55,859,256.24 RMB, with the combined total for cash dividends and buybacks reaching 127,281,456.24 RMB, accounting for 94.04% of the net profit attributable to shareholders[5]. - The board of directors has approved the profit distribution plan, which is subject to the approval of the 2024 annual general meeting[6]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming[4]. - The company has not encountered any significant risks that could materially affect its operations during the reporting period[3]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[11]. - The company has not experienced any issues with a majority of directors being unable to ensure the authenticity, accuracy, and completeness of the annual report[12]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute substantive commitments to investors[8]. Research and Development - The R&D expenditure as a percentage of operating revenue was 12.23% in 2024, down from 14.00% in 2023[24]. - The company has increased its investment in R&D, market promotion, and overseas subsidiaries, leading to a noticeable rise in related expenses compared to 2023[25]. - The company has applied for 42 new patents and received 32 new authorizations during the reporting period, including 12 new invention patents, accounting for 37.50% of the newly authorized patents[112]. - The total R&D investment for the year was approximately ¥54.15 million, a decrease of 17.83% compared to the previous year, with R&D expenses accounting for 12.23% of total revenue[115]. - The company is focusing on enhancing its marketing network and brand influence to drive sales growth in the domestic market[56]. Market and Sales - The company has established production lines in the US and Thailand to mitigate risks from US tariffs, with nearly 60% of sales coming from US clients[138]. - The company plans to enhance its domestic market presence and brand influence, with significant growth expected in the fourth quarter as customer inventory levels decrease[144]. - The domestic endoscope market is rapidly expanding due to the establishment of a hierarchical diagnosis and treatment system and advancements in minimally invasive surgery[58]. - The company is focusing on optimizing its supply chain and enhancing risk prevention capabilities in response to international trade uncertainties[136]. Product Development and Innovation - The company’s new 4K camera system successfully entered mass production in 2024, achieving rapid growth in the domestic market[37]. - The company has developed a non-contact palm vein recognition technology with a recognition rate of 99.99% and a false recognition rate of only 0.00001%, addressing security concerns in traditional biometric systems[66]. - The company has developed a 3D fluorescence imaging system based on dual CMOS technology, which supports high-speed data transmission and 3D image processing[78]. - The company is developing new products such as 3D endoscope systems and 3D laparoscopes to address clinical challenges and enhance competitiveness in minimally invasive surgery[189]. Financial Position - The company's cash and cash equivalents at the end of the period were CNY 523,890,835.86, which is 35.88% of total assets, down 11.55% from the previous period[166]. - Inventory increased by 9.18% to CNY 186,514,537.63, representing 12.77% of total assets[166]. - The company’s long-term equity investments rose by 293.29% to CNY 53,523,671.16, primarily due to increased investment in a related company[166]. - The company reported a significant increase in accounts receivable by 41.97% to CNY 119,332,508.50, attributed to increased shipments in the fourth quarter[166]. Strategic Partnerships and Collaborations - The company has established a long-term partnership with the international medical device giant, Medtronic, contributing to the development and mass production of core optical components for endoscope systems since 2008[63]. - The company is collaborating with key clients like Danaher Group to meet supply chain reconstruction needs, aiming for new business opportunities[196].