中富电路(300814) - 2024 Q4 - 年度财报

Financial Performance - The company's revenue for 2024 reached ¥1,453,984,790.41, an increase of 17.15% compared to ¥1,241,127,632.50 in 2023[17]. - Net profit attributable to shareholders for 2024 was ¥38,094,259.35, reflecting a significant increase of 45.01% from ¥26,269,345.56 in 2023[17]. - The basic earnings per share for 2024 was ¥0.22, up 46.67% from ¥0.15 in 2023[17]. - Total assets at the end of 2024 amounted to ¥2,986,240,231.17, representing a 32.00% increase from ¥2,262,374,735.91 at the end of 2023[17]. - The company reported a net cash flow from operating activities of ¥62,420,598.26 in 2024, a decrease of 18.24% compared to ¥76,343,197.59 in 2023[17]. - The company achieved a main business revenue of 1,292.60 million yuan, a year-on-year increase of 14.22%, and a net profit attributable to the parent company of 38.09 million yuan, up 45.01% year-on-year[47]. - Total operating revenue for the period reached ¥1,453,984,790.41, representing a year-on-year increase of 17.15%[56]. - Main business revenue accounted for ¥1,292,596,797.18, which is 88.90% of total revenue, with a year-on-year growth of 14.22%[56]. - Domestic revenue was ¥1,095,739,488.38, making up 75.36% of total revenue, with a year-on-year increase of 22.28%[56]. - Gross profit margin for main business improved to 15.82%, up by 2.69% compared to the previous year[58]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 191,430,132 shares[3]. - The proposed cash dividend is CNY 1.00 per share (before tax), totaling CNY 19,143,013.20 based on a total share capital of 191,430,132 shares[181]. - The cash dividend represents 100% of the total profit distribution amount, aligning with the company's policy for a growth stage with significant capital expenditure[178]. - The company plans to maintain a minimum cash dividend ratio of 20% for profit distributions during growth stages with significant capital expenditures[178]. - The board of directors will submit the profit distribution proposal to the shareholders' meeting for approval after considering the company's earnings and funding needs[176]. Risk Management - The company has identified potential risks including macroeconomic fluctuations, market competition, raw material price volatility, trade friction, exchange rate risks, overseas investment risks, and risks associated with developing new products and entering new markets[3]. - The company has a comprehensive risk management strategy outlined in the report, detailing measures to address the identified risks[3]. - The company is closely monitoring macroeconomic fluctuations, as PCB demand is highly correlated with global economic conditions, and is prepared to implement targeted strategies to mitigate risks[110]. - The company faces intense competition in the PCB industry, with plans to enhance technology and production management to maintain competitiveness[111]. - The company is addressing the risk of raw material price fluctuations, particularly for key materials like copper and oil, which significantly impact production costs[112]. - The company is aware of exchange rate risks due to its overseas sales primarily being settled in USD and plans to use financial instruments for hedging[115]. Research and Development - The company invested 76.60 million yuan in R&D, a year-on-year increase of 42.72%, representing 5.27% of total revenue, focusing on customer and market demands[52]. - The company holds 107 patents, including 12 invention patents and 95 utility model patents, showcasing its strong R&D capabilities[40]. - The number of R&D personnel increased by 28.90% from 218 in 2023 to 281 in 2024, with 41.49% holding bachelor's degrees[66]. - The company is committed to technological innovation and product development to meet diverse market demands[105]. - New product development includes the launch of a next-generation circuit board technology, expected to enhance production efficiency by 30%[156]. Market Expansion - The report indicates that the company is focused on expanding its market presence and developing new technologies in the PCB sector[10]. - The company is actively exploring new strategic cooperation opportunities and enhancing international customer relationships to support sustainable growth[50]. - The company is expanding its overseas market presence, particularly in Thailand, to mitigate risks associated with trade tensions and protect its international competitiveness[114]. - The company is actively pursuing overseas market expansion, particularly through the launch of its factory in Thailand[104]. - The company aims to deepen cooperation with existing clients and expand its market presence, particularly targeting new clients like BYD and Flex Power, to drive steady revenue growth[108]. Corporate Governance - The financial report has been confirmed as true, accurate, and complete by the company's management, including the chairman and accounting heads[3]. - The company emphasizes its commitment to corporate governance and social responsibility in its operations[6]. - The company adheres to legal regulations for information disclosure, ensuring timely and accurate communication with investors through various channels[130]. - The company has established a dedicated investor relations management system, enhancing transparency and communication with shareholders[131]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a complete and independent business structure[134]. Environmental Compliance - The company has a valid pollution discharge permit for its ShaJing factory, effective until December 1, 2027[192]. - The ShaJing factory has been compliant with strict wastewater discharge standards, exceeding the required limits by 200% for certain pollutants[190]. - The company has established a comprehensive environmental protection regulatory framework and regularly updates its compliance assessments[191]. - The company has implemented a wastewater treatment system at its HeShan factory, ensuring compliance with local discharge standards[190]. - The company has a history of maintaining and renewing its environmental permits, with the latest renewal completed in December 2022[192]. Employee Management - The total number of employees at the end of the reporting period was 2,591, including 1,075 at the parent company and 1,516 at major subsidiaries[167]. - The company has a total of 1,968 production personnel, 64 sales personnel, 330 technical personnel, 18 financial personnel, and 211 administrative personnel[168]. - The company emphasizes talent development, focusing on attracting and nurturing high-level, technical, and managerial talents to enhance its workforce quality[109]. - The company has established a detailed annual training plan to enhance employee skills and overall management levels[170]. - The company has implemented a comprehensive salary system based on market conditions and employee performance[169].