Shenzhen Kexin (SZ:300565)2025-04-24 15:25Financial Performance - The company reported a net profit attributable to the parent company of -205.77 million yuan, primarily due to a decrease in customer orders and sales revenue, as well as losses in the energy storage sector[5]. - The company's core business and financial indicators did not experience significant adverse changes, aligning with industry trends[5]. - The company plans not to distribute cash dividends or issue bonus shares[8]. - The company's operating revenue for 2024 was ¥556,959,929.85, representing an increase of 8.72% compared to ¥512,299,910.07 in 2023[24]. - The net profit attributable to shareholders for 2024 was -¥205,771,888.89, an improvement of 8.00% from -¥223,656,162.74 in 2023[24]. - The cash flow from operating activities for 2024 was -¥97,106,697.17, a significant decline of 743.48% compared to -¥11,512,592.73 in 2023[24]. - The total assets at the end of 2024 amounted to ¥1,568,436,586.93, reflecting a growth of 6.87% from ¥1,467,588,848.46 at the end of 2023[24]. - The net assets attributable to shareholders increased by 102.03% to ¥636,763,473.02 at the end of 2024, up from ¥315,179,168.40 at the end of 2023[24]. - The company reported a basic and diluted earnings per share of -¥0.84 for 2024, an improvement of 22.22% from -¥1.08 in 2023[24]. - The company reported a total revenue of 55,695.99 million yuan, representing an 8.72% increase compared to the same period last year[61]. - The company reported a net loss attributable to shareholders of 20,577.19 million yuan, with a net loss of 21,043.28 million yuan after excluding non-recurring gains and losses[61]. - Domestic revenue decreased by 8.36% to 335,685.78 million yuan, while international revenue increased by 51.57% to 221,274.15 million yuan[66]. Market and Industry Trends - The energy storage segment is still in the market expansion phase, facing challenges from raw material price fluctuations and pricing pressures[5]. - The company’s industry environment has not shown significant adverse changes, with no signs of overcapacity or sustained decline[5]. - The company expects to see significant growth in the 5G sector, with an estimated investment of ¥1.2 trillion in 5G network construction by 2025, driving related investments over ¥3.5 trillion[34]. - The number of 5G base stations in China is projected to reach 4.251 million by the end of 2024, with a net increase of 874,000 stations compared to the end of 2023[34]. - The industrial internet connections are expected to reach 430 million in 2024, representing a year-on-year growth of 42%[34]. - The commercial scale of user-side energy storage is anticipated to grow, with costs for commercial energy storage systems dropping over 40% since 2020[38]. - The company is facing macroeconomic risks that could impact demand in the communication and storage sectors, necessitating proactive adjustments to product structure[129]. - The company is actively developing its energy storage ecosystem, but increasing competition in the energy storage market poses risks to its market position[132]. Strategic Developments - Future plans and strategic developments are outlined in the management discussion section, highlighting potential risks and countermeasures[7]. - The company aims to maintain its existing business while transitioning into new products and fields to adapt to increasing market competition[41]. - The company is exploring new applications for network energy products in household and commercial energy storage, gradually achieving results[41]. - The company is committed to developing green and low-carbon data center solutions, aligning with national goals for carbon neutrality and energy efficiency improvements[116]. - The company plans to optimize its market layout and increase resource investment in regions with strong market demand while tightening non-strategic projects[64]. - The company is focused on strategic growth and market expansion, as indicated by the recent appointments and restructuring efforts[149]. Research and Development - The company has maintained a high level of R&D investment, focusing on innovative products and solutions, including the first 100Ah ultra-thin battery cell in the industry[57]. - Research and development expenses for 2024 were ¥76,754,340.69, a decrease of 4.77% compared to ¥80,596,787.78 in 2023[80]. - R&D investment accounted for 13.78% of operating revenue in 2024, down from 15.73% in 2023[83]. - The company is developing a home energy storage product aimed at enhancing overseas brand influence and market competitiveness[81]. - The company plans to increase R&D investment to launch high-efficiency power modules and integrated home storage systems, optimizing its storage product structure[123]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining transparency in shareholder rights[139]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[140]. - The company emphasizes information disclosure and transparency to maintain stakeholder trust[141]. - The company has established a performance management system to incentivize core talent and align with business objectives[178]. - The company has conducted internal control assessments and found no significant deficiencies in financial reporting controls[186]. Environmental and Social Responsibility - The company emphasizes its commitment to environmental protection and has not received any administrative penalties related to environmental issues during the reporting period[192]. - The company actively participated in rural revitalization efforts, donating 50,000 yuan to support poverty alleviation in Tangyuan County, Heilongjiang[194]. - The company is committed to protecting shareholder rights and ensuring employee welfare, participating in social insurance and other benefits[193].