Gian(SZ:300709)2025-04-24 15:30Financial Performance - The company's operating revenue for 2024 was CNY 2,159,144,478.85, a decrease of 1.66% compared to CNY 2,195,581,038.39 in 2023[20] - The net profit attributable to shareholders for 2024 was CNY 119,678,867.99, down 28.02% from CNY 166,268,046.44 in 2023[20] - The net profit after deducting non-recurring gains and losses was CNY 100,981,934.04, a decrease of 14.16% compared to CNY 117,641,660.03 in 2023[20] - The net cash flow from operating activities for 2024 was CNY 359,947,561.88, down 5.83% from CNY 382,240,490.83 in 2023[20] - The basic earnings per share for 2024 was CNY 0.64, a decline of 28.09% from CNY 0.89 in 2023[20] - The total assets at the end of 2024 were CNY 3,288,112,896.00, an increase of 2.18% from CNY 3,217,914,776.11 at the end of 2023[20] - The net assets attributable to shareholders increased by 4.02% to CNY 2,157,192,319.70 at the end of 2024, compared to CNY 2,073,811,464.03 at the end of 2023[20] - The weighted average return on net assets for 2024 was 5.67%, a decrease of 2.66 percentage points from 8.33% in 2023[20] Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.10 per 10 shares to all shareholders, based on a total of 186,076,681 shares[4] - The profit distribution plan for 2023 includes a cash dividend of 1.60 yuan per 10 shares, totaling 29,772,268.96 yuan, based on a total share capital of 186,076,681 shares[162] - The company plans to distribute a cash dividend of 1.10 CNY per 10 shares, totaling 20,468,434.91 CNY (including tax) based on a total share capital of 186,076,681 shares[164] - The cash dividend distribution accounts for 100% of the total profit distribution amount[163] - The company has not proposed any stock dividends or capital reserve transfers for this fiscal year[164] Market Trends and Projections - The global smartphone shipment is projected to reach 1.24 billion units in 2024, reflecting a year-on-year growth of 6.4%[29] - The wearable device market is expected to see a shipment of 190 million units in 2024, with a notable 19.3% growth in the Chinese market[30] - The true wireless stereo (TWS) market is projected to reach 330 million units in 2024, showing a year-on-year growth of 13%[31] - The global VR and MR headset shipment is expected to be around 9.6 million units in 2024, with an 8.8% year-on-year increase[31] - The AI glasses market is anticipated to grow by 210% in 2024, although it remains at a low shipment base compared to more mature categories[32] - In 2024, the production and sales of new energy vehicles in China are expected to exceed 10 million units, with a year-on-year growth of 34.4% and 35.5% respectively[33] - New energy vehicles will account for 40.9% of total new car sales in 2024, an increase of 9.3 percentage points compared to 2023[33] - The global smart home device shipment is projected to grow by 0.6% in 2024, reaching 892 million units[35] - The global smart vacuum cleaner market is expected to ship 20.6 million units in 2024, reflecting a year-on-year growth of 11.2%[36] Operational Efficiency and Strategy - The company aims to enhance operational efficiency through a "Four Modernizations" strategy focusing on standardization, lean management, digitalization, and automation[58] - The company employs a "production based on sales" model, ensuring flexibility in production and procurement to meet diverse customer needs[49] - The company is focusing on smart manufacturing services, enhancing automation and information systems integration for various industries[38] - The company has restructured its organizational framework to break down barriers between departments, facilitating better collaboration and resource sharing[58] - The company aims to transition from a parts supplier to an intelligent system integrator, enhancing its competitive advantage in the industry[100] Research and Development - The company has continuously increased R&D investment as a percentage of operating income, reaching 8.25% in 2021[51] - The company has developed core technologies including small modulus gear transmission systems and liquid cooling integrated heat dissipation modules, enhancing its competitive edge in metal precision manufacturing[52] - The company is developing high-strength lightweight metals for applications in 5G base stations and consumer electronics, with project acceptance expected in 2025[73] - The company has made progress in high-precision small modulus gear development, enhancing its capabilities in precision transmission components[74] - R&D investment for 2024 amounts to ¥178,074,374.07, representing 8.25% of operating revenue, a slight increase from 8.23% in 2023[75] Risk Management - The company has outlined potential risks and countermeasures in its future development outlook section of the report[4] - The company faces risks from global economic fluctuations and declining customer demand, particularly in the consumer electronics sector, which could adversely affect its performance[106] - The company recognizes the risk of market competition in the MIM industry, where maintaining technological and operational advantages is crucial for sustaining market share[107] - The company is aware of the risks associated with its reliance on MIM technology, which may limit its market adaptability and resilience to demand fluctuations[108] - The company will enhance procurement management to address risks from commodity price fluctuations, particularly for metals like copper and aluminum[113] Governance and Compliance - The company has established internal control systems for financial derivative trading to mitigate risks associated with market fluctuations, liquidity, operational, and credit risks[92] - The company has a structured governance framework with clear roles and responsibilities among the shareholders' meeting, board of directors, and supervisory board, ensuring effective checks and balances[125] - The company actively respects and promotes the rights of stakeholders, fostering cooperation and communication to achieve coordinated development[122] - The company has implemented a performance evaluation and incentive mechanism for senior management, linking compensation to operational performance[121] - The company maintains independence from its controlling shareholders, with no instances of fund occupation or guarantees provided to them[120] Environmental Responsibility - The company achieved compliance with national environmental laws and regulations, maintaining a green enterprise credit rating[173] - The company has obtained necessary pollution discharge permits and registrations for its subsidiaries, ensuring adherence to environmental standards[173] - The company processed all industrial wastewater through its comprehensive wastewater treatment station, ensuring compliance before connecting to the municipal sewage system[174] - The company installed a 6.4 MW distributed photovoltaic power generation project, resulting in a reduction of 4,609.9 tons of CO2 emissions and saving 1,727.3 tons of standard coal in 2024[177] - The company maintained a zero administrative penalty record for environmental issues during the reporting period[175] Employee Engagement and Development - The company has implemented a performance-based compensation system, linking employee salaries directly to performance assessment results[158] - The training program includes core courses aimed at enhancing leadership, management skills, and professional capabilities[159] - The company has launched an online learning platform to facilitate flexible learning and knowledge sharing among employees[160] - The total number of employees at the end of the reporting period is 3,329, with 2,492 in the parent company and 837 in major subsidiaries[157] - The company has a total of 79 employees with a master's degree or above, and 642 with a bachelor's degree[157] Subsidiaries and Market Expansion - The company has established new wholly-owned subsidiaries in Vietnam and Singapore during the reporting period[192] - The company is preparing for new product launches in the folding screen segment, with client engagement ongoing[115] - The company plans to enter the Southeast Asian market, with an initial investment of 30 million RMB to establish a local presence[132] - The company is actively pursuing new clients for its folding screen products, with notable progress reported[115] - The company aims to enhance domestic customer revenue and market share, focusing on long-term competitive advantages and sustainable development[101]