Tederic(SH:603289)2025-04-25 09:40Financial Performance - The net profit attributable to ordinary shareholders for 2024 is CNY 82,208,555.25[6] - The company's operating revenue for 2024 reached ¥1,148,111,105.33, representing a 14.59% increase compared to ¥1,001,945,099.42 in 2023[24] - Net profit attributable to shareholders decreased by 4.23% to ¥82,208,555.25 in 2024 from ¥85,836,840.70 in 2023[24] - The net cash flow from operating activities significantly increased by 72.68% to ¥180,564,729.40 in 2024, compared to ¥104,568,704.32 in 2023[24] - The total assets of the company grew by 26.54% to ¥2,960,122,406.05 at the end of 2024, up from ¥2,339,263,721.55 at the end of 2023[24] - Basic earnings per share for 2024 were ¥0.28, a decrease of 3.45% from ¥0.29 in 2023[25] - The weighted average return on equity decreased to 5.84% in 2024 from 6.27% in 2023[25] - The company recorded a significant decrease in net profit after deducting non-recurring items, which fell by 19.88% to ¥74,143,148.21 in 2024[24] - The total net assets attributable to shareholders increased by 2.41% to ¥1,428,961,079.68 at the end of 2024, compared to ¥1,395,317,330.17 at the end of 2023[24] Dividend and Profit Distribution - The proposed cash dividend is CNY 1.50 per 10 shares (including tax), with no capital reserve transfer to increase share capital[6] - The company’s net profit for 2023 was CNY 85,836,840.70, with a proposed cash dividend of CNY 1.50 per 10 shares, totaling CNY 44,335,116.30 distributed to shareholders[164] - For 2024, the net profit is projected to be CNY 82,208,555.25, with a similar cash dividend proposal of CNY 1.50 per 10 shares, pending shareholder approval[165] - The company maintains a cash dividend policy, ensuring that at least 20% of the distributable profits are allocated as cash dividends each year[163] - The company declared a cash dividend of CNY 44,004,936.90, which accounts for 53.53% of the net profit attributable to ordinary shareholders in the consolidated financial statements[169] Risk Management - The company has detailed potential risks in the management discussion and analysis section of the report[9] - The company has a comprehensive risk statement regarding future plans and development strategies[7] - The company faces risks from downstream industry fluctuations that could negatively impact its operating performance due to its reliance on sectors like automotive parts and logistics packaging[127] - Increased market competition may lead to a decline in gross margins and profitability for the company's mid-to-high-end injection molding products[127] - Fluctuations in raw material prices, particularly steel, pose a risk to the company's cost control, as the timing of sales orders and material procurement may not align[132] - Rising labor costs in China due to urbanization and aging population may affect profitability if productivity does not increase correspondingly[132] Corporate Governance - The company has confirmed that all board members attended the board meeting[4] - The company has approved a proposal to adjust the audit committee members of the fourth board of directors[139] - The company will conduct a stock incentive plan and repurchase of restricted stocks as part of its strategy[140] - The company has established a structured process for determining remuneration, involving a compensation and assessment committee that submits proposals to the board[146] - The company’s board of directors includes members with extensive experience in various industries, enhancing governance and strategic direction[144] - The company has maintained compliance with regulatory requirements, with no penalties from securities regulatory agencies in the past three years[148] Research and Development - The company has a strong R&D capability, with a focus on high-performance injection molding technologies, evidenced by multiple awards for innovation and technology advancements[80] - The company is committed to increasing R&D investment, targeting European and Japanese competitors, and achieving self-control in high-quality development[124] - The company is focusing on the development of servo energy-saving technology, precision molding technology, and multi-component injection technology to meet the growing demands of the plastic products market[122][123] - The company has implemented talent development programs, including the "Eagle" series for nurturing new talent and middle management[162] Market Position and Strategy - The company ranks fifth in the Chinese injection molding machine industry based on revenue and net profit for 2023, according to the latest evaluation by the China Plastics Machinery Industry Association[57] - The global injection molding machine market is projected to reach approximately $11.41 billion in 2024, with an expected CAGR of 5.63% until 2030, reaching $15.86 billion[51] - The company aims to become a leader in the global new energy molding equipment and technology sector, focusing on complex injection molding and metal integration solutions[61] - The company has established overseas marketing, technology, and service centers in countries such as Portugal, South Korea, Brazil, Mexico, and Germany, with a significant portion of revenue coming from international operations[129] Social Responsibility - The company donated 500,000 RMB to support education initiatives, demonstrating its commitment to social responsibility and sustainable development[45] - The company invested 42.51 million yuan in environmental protection during the reporting period[180] - The company installed photovoltaic panels with a total capacity of nearly 12 megawatts at its Tongxiang GIGA factory, generating 1,140 million kWh of clean energy, covering over 72% of the factory's electricity needs[182] - The company made a total donation of 69.53 million yuan for public welfare projects, including a 500,000 yuan donation to support education[184] Financial Management - The company has a robust procurement model that ensures quality control and cost management, maintaining long-term relationships with suppliers to secure a stable supply of raw materials[75] - The production model combines planned and order-based production, allowing for flexibility in meeting diverse customer needs while maintaining safety stock[76] - The company’s investment activities generated a net cash flow of ¥17,315,639.77, reversing from a negative cash flow of ¥251,782,268.53 in the previous year[87] - The net cash flow from financing activities increased by 88.55% year-on-year to 450,938,858.93 CNY, primarily from increased borrowings and funds raised from convertible bonds[103] Future Outlook - The company aims to become a global leader in the new energy molding equipment and technology sector, focusing on high-quality, sustainable, and global development strategies[124] - The company plans to enhance its global supply system by completing key projects such as the all-electric manufacturing base and the Tongxiang intelligent manufacturing base[126] - The company is committed to sustainable development, ensuring a balance between current sales and future product development[124] - The company will avoid engaging in any business activities that directly or indirectly compete with its core operations[190]