longda(SH:688231)2025-04-25 08:50Dividend Distribution - The company plans to distribute a cash dividend of 0.70 RMB per 10 shares to all shareholders, totaling approximately 16,825,476.15 RMB (including tax) based on a total share capital of 240,363,945 shares after deducting repurchased shares[6]. - The company has approved a cash dividend of 1.70 RMB per 10 shares for the first three quarters of 2024, amounting to a total distribution of 40,861,870.65 RMB (including tax), which was completed on December 9, 2024[7]. - The cash dividend amount represents 87.25% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is 66,114,023.48 RMB[187]. - The cumulative cash dividend amount over the last three accounting years is 86,537,248.08 RMB, with an average net profit of 60,746,659.86 RMB, resulting in a cash dividend ratio of 142.46%[189]. Financial Performance - The company achieved operating revenue of CNY 1,391,473,375.70 in 2024, a year-on-year increase of 15.22%[22]. - Net profit attributable to shareholders reached CNY 66,114,023.48, reflecting a 19.38% increase compared to the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 44,381,255.23, up 51.21% year-on-year[22]. - The company's total assets increased by 6.33% to CNY 3,568,349,407.79 at the end of the reporting period[24]. - The net assets attributable to shareholders decreased by 2.76% to CNY 2,703,609,853.23 compared to the previous year[24]. - Basic earnings per share rose to CNY 0.27, a 22.73% increase from the previous year[23]. - The company achieved operating revenue of ¥1,391,473,375.70, an increase of 15.22% year-on-year[97]. - The net profit attributable to shareholders was ¥66,114,023.48, reflecting a year-on-year increase of 19.38%[97]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥44,381,255.23, up 51.21% year-on-year[97]. Research and Development - The R&D investment as a percentage of operating revenue was 4.28%, down 1.73 percentage points from the previous year[23]. - The company applied for 16 invention patents and was granted 2 invention patents during the reporting period[37]. - Cumulative patent applications reached 199, including 166 invention patents, with 119 patents granted, of which 86 are invention patents[37]. - The total R&D expenditure for the year was ¥59,557,951.19, a decrease of 17.98% compared to the previous year’s ¥72,611,738.58[67]. - The proportion of total R&D expenditure to operating revenue decreased from 6.01% to 4.28%, a reduction of 1.73 percentage points[67]. - The company has established a joint laboratory with Suzhou National Laboratory to enhance its research capabilities in high-temperature alloy materials[37]. - The company’s research and development strategy combines independent research with project-based initiatives, funded by various governmental sources[47]. Market Expansion and Strategy - The company is focusing on expanding its domestic market presence amid a competitive landscape, emphasizing the development of civilian products and emerging industry demands[36]. - The company plans to adjust the production capacity of its new project from 6,000 tons to 3,000 tons, with an expected additional capacity of 2,000 tons of cast high-temperature alloys and 3,000 tons of deformed high-temperature alloys by 2025[41]. - The company aims to become a leading global high-temperature alloy R&D and manufacturing base, focusing on key industries such as aerospace, energy, and petrochemicals[145]. - The company plans to accelerate international market expansion and strengthen collaborations with renowned international manufacturers in the aviation and energy sectors to increase market share[145]. - The company aims to enhance its core competitiveness through increased investment in technology and collaboration with domestic and international research institutions[146]. Risk Management - The company has outlined various risks and countermeasures in its annual report, which investors are encouraged to review[4]. - The company faces risks related to raw material price fluctuations, particularly for nickel, copper, and cobalt, which significantly impact production costs and profit margins[89]. - The company is exposed to exchange rate risks due to its international operations, particularly with USD transactions[91]. - The company has established a stable R&D team and implemented measures to retain key technical personnel, mitigating the risk of talent loss[87]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not experienced any situations where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[10]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - The company has not violated any decision-making procedures for providing guarantees[10]. - The company held four shareholder meetings during the reporting period, with all resolutions legally valid and properly disclosed[155]. Operational Performance - The company achieved a production yield increase of over 2% for B10 alloy pipes, reducing production costs significantly[25]. - The production volume of high-temperature alloys increased by 28.28% to 4,013.71 tons, while sales volume rose by 31.36% to 4,026.88 tons, indicating strong demand[107]. - The company reported a net cash flow from operating activities increase due to higher production and sales volumes, leading to an increase in operating receivables and inventory[100]. - The company has established a standardized testing system for high-temperature alloys, achieving certifications from CNAS and NADCAP, ensuring quality control across all production stages[63]. Employee Management - The company has a total of 708 employees, with 198 in the parent company and 510 in major subsidiaries[178]. - The company has established a competitive salary policy linked to performance and capabilities, aiming to enhance employee motivation and productivity[180]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 7.8749 million RMB[169]. - The total remuneration for core technical personnel at the end of the reporting period was 3.0086 million RMB[169]. Future Outlook - The company anticipates steady growth in demand for high-temperature alloys in military aviation engines, supported by national defense modernization efforts[134]. - The global aviation market is expected to grow at a compound annual growth rate (CAGR) of approximately 5% from 2023 onwards, with the Asia-Pacific region experiencing the most rapid growth[135]. - The company plans to focus on high-end terminal customer groups in sectors such as aerospace and gas turbines, while also accelerating the development of military and civilian products in the domestic market[148]. - The company is committed to enhancing its quality management system and ensuring that all processes meet refined management standards to improve product quality[149].