FPT(SZ:300256)2025-04-24 16:20Financial Performance - The company reported a significant loss for the fiscal year 2024, with specific reasons and measures for improving profitability detailed in the management discussion section [3]. - The net profit attributable to shareholders was -¥618,890,272.34 in 2024, a decline of 28.68% from -¥480,952,433.94 in 2023 [16]. - The total assets at the end of 2024 were ¥1,571,582,309.61, a decrease of 30.03% from ¥2,246,191,269.93 at the end of 2023 [16]. - The net assets attributable to shareholders dropped by 52.80% to ¥727,024,147.72 in 2024, compared to ¥1,540,263,078.61 in 2023 [16]. - The company reported a basic earnings per share of -¥0.27 for 2024, a decrease of 28.57% from -¥0.21 in 2023 [16]. - The company experienced a significant decline in non-recurring gains and losses, with a total of -¥63,229,115.00 in 2024 compared to a gain of ¥33,813,049.16 in 2023 [22]. - The company reported a credit impairment loss and asset impairment loss totaling approximately 218 million CNY during the reporting period [65]. - The company reported a total investment of ¥241,000,000.00 during the reporting period, a 100% increase from the previous year [100]. - The company reported a total asset value of approximately 1.13 billion CNY and a net asset value of -358.25 million CNY, reflecting financial challenges [109]. Revenue and Sales - The company's operating revenue for 2024 reached ¥1,201,641,157.49, representing a 40.88% increase compared to ¥852,973,624.79 in 2023 [16]. - The electric two-wheeler segment saw a significant revenue increase of 142.84%, reaching 570,341,479.94 CNY, compared to 234,860,094.58 CNY in the previous year [71]. - Domestic sales accounted for 77.33% of total revenue, increasing by 69.45% year-on-year, while foreign sales decreased by 10.56% [71]. - The electric motorcycle segment experienced a remarkable growth of 658.32%, with revenue reaching 192,375,819.00 CNY [71]. - The company's total revenue for the electronic components industry reached approximately ¥631.3 million, with a year-on-year increase of 2.13% [73]. - The electric two-wheeler segment generated revenue of approximately ¥570.3 million, showing a significant year-on-year growth of 142.84% [73]. - The sales volume of electronic components increased by 77.37% year-on-year, reaching approximately 127.4 million units, while production volume rose by 103.54% to approximately 112.6 million units [75]. Market and Industry Outlook - The touch display module market is expected to grow steadily due to increasing applications in various industries driven by advancements in technology [27]. - The electric two-wheeler market in China is expected to grow steadily, with a projected sales volume of approximately 55 million units in 2023, representing a year-on-year increase of 9.8% [29]. - By 2028, the electric two-wheeler industry in China is forecasted to reach a sales volume of 84 million units, growing at a compound annual growth rate (CAGR) of 7% from 2023 to 2028 [30]. - The electric two-wheeler industry is experiencing a surge in demand due to new standards and policies, which are expected to drive short-term growth in compliant electric bicycles [30]. - The electric two-wheeler market is expected to grow significantly following the implementation of new national standards in 2025, which will enhance product quality and safety [125]. - In 2024, China's electric two-wheeler exports reached $5.816 billion, a 27.6% increase year-on-year, with export volume rising by 47% to 22.118 million units [126]. - The overseas demand for electric two-wheelers is diversifying, with significant growth in exports to Europe, Asia, and North America [127]. Research and Development - The company is focusing on the development of new materials and technologies in the window protection screen sector, achieving significant progress in various innovative products [32]. - Research and development expenses increased by 19.46% to approximately ¥58.8 million, driven by investments in electric vehicle and consumer electronics R&D [84]. - The company is committed to continuous innovation in electric two-wheeler technology, focusing on battery advancements and smart features to meet evolving consumer needs [31]. - The company is actively developing new technologies, such as the MAXW energy system and intelligent management systems for electric two-wheelers, to enhance product offerings [56]. - Research and development personnel increased to 362 in 2024, a rise of 14.20% from 317 in 2023, with the proportion of R&D staff rising to 22.10% [87]. - R&D investment amounted to ¥58,818,952.39 in 2024, representing 4.89% of operating revenue, down from 5.77% in 2023 [87]. Operational Efficiency and Management - The company is committed to maintaining a competitive edge by ensuring high-quality production and timely delivery through effective supply chain management [41]. - The company has established a stable procurement channel, evaluating suppliers based on qualifications, financial status, and product quality, ensuring at least two suppliers for each material to mitigate supply risks [44]. - The production process is organized based on customer orders, with a focus on quality control and efficiency, including systematic training for employees to enhance product quality and reduce production costs [46]. - The company focuses on continuous improvement in production efficiency and cost reduction through the optimization of processes and increased automation levels [54]. - The company is committed to enhancing customer satisfaction and repurchase rates through quality improvement and timely delivery [68]. - The company plans to optimize its organizational structure to improve operational efficiency and responsiveness, with a focus on binding individual performance to business objectives [130]. - The company is committed to enhancing its core competitiveness through process optimization and value stream transformation, aiming to improve operational efficiency across the entire supply chain [131]. Governance and Compliance - The company has a clear governance structure with defined roles for the board of directors, supervisory board, and management team [159]. - The company actively respects and protects the rights of stakeholders, promoting balanced interests among all parties [161]. - The company has implemented strict compliance with legal and regulatory requirements in its governance practices [162]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management [158]. - The company maintains a fully independent business system and operational capability, with no reliance on shareholders or related parties [163]. - The company has set up independent financial departments and accounting systems, ensuring independent financial decision-making [165]. Strategic Initiatives - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $50 million allocated for this purpose [7]. - A new strategic partnership was announced, expected to drive a 15% increase in sales over the next two years [8]. - The company plans to enhance its digital marketing efforts, aiming for a 30% increase in online sales [9]. - The company is focusing on the electric two-wheeler and consumer electronics sectors, with a strategic shift towards modular integration in its components business, targeting a transition from consumer electronics to the electric two-wheeler market [128]. - The company aims to enhance its electric two-wheeler offerings by developing a product matrix that includes electric vehicles, specialized vehicles, and autonomous vehicles, emphasizing smart upgrades and cost-effective products [128]. Human Resources - The total number of employees at the end of the reporting period is 1,638, with 54 in the parent company and 1,584 in major subsidiaries [196]. - The company has a total of 2,916 employees receiving salaries during the reporting period [196]. - The company maintains a salary policy that aligns with job value and external labor market levels, aiming to attract and retain talent [197]. - The company has established a training mechanism to enhance team quality through internal and external training programs [198]. - The company has no reported risks during the supervisory activities of the supervisory board in the reporting period [195].