WSBE(SH:600421)2025-04-25 09:50Financial Performance - The audited net profit for 2024 is -4,683,818.08 CNY, with total distributable profits for the year amounting to -444,567,156.57 CNY[5]. - The company's operating revenue for 2024 is 117,170,329.68 CNY, representing a decrease of 4.06% compared to 2023[24]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, is -5,443,553.51 CNY for 2024[24]. - The cash flow from operating activities shows a negative net amount of -5,424,399.64 CNY, a decline of 190.16% compared to the previous year[24]. - The net profit attributable to shareholders was a loss of CNY 4.68 million, an improvement of 43.43% compared to the previous year's loss[32]. - The company reported a net profit attributable to shareholders of -8,279,504.04 yuan for 2023, resulting in no profit distribution or capital reserve transfer for the year[130]. - The company reported a net profit attributable to shareholders of -4.6838 million yuan for the fiscal year 2024, with a net profit of -5.4436 million yuan after deducting non-recurring gains and losses[150]. - The company is facing a delisting risk due to the negative net profit and revenue figures, which will result in a "*ST" designation after the annual report disclosure[150]. Revenue and Sales - The company reported a total revenue of CNY 117.17 million for 2024, a decrease of 4.06% compared to the previous year[32]. - The revenue from PC molds was CNY 76.49 million, accounting for 65.28% of total revenue, which represents a decline of 13.35% year-on-year[33]. - The main business revenue, after excluding unrelated income, was CNY 111.90 million, down 4.84% year-on-year[67]. - The revenue from the mold segment was CNY 76.49 million, down 13.35% year-on-year, while the revenue from the mold platform increased by 205.21% to CNY 9.33 million[69]. - The company's revenue from traditional housing PC molds is projected to decline from CNY 46.8 million in 2023 to CNY 14.5 million in 2024, a decrease of 68.97%[94]. - The non-housing PC mold business, particularly the wind power mixed tower steel mold, is expected to grow significantly, with a growth rate of 101.42% compared to 2023[94]. Assets and Liabilities - Total assets increased by 6.84% to 154,359,558.03 CNY at the end of 2024 compared to the end of 2023[24]. - The net assets attributable to shareholders decreased by 35.80% to 8,217,881.19 CNY at the end of 2024[24]. - Current liabilities rose to ¥106.93 billion in 2024, up from ¥100.52 billion in 2023, indicating an increase of about 6%[194]. - Non-current liabilities increased to ¥10.78 billion in 2024, compared to ¥4.59 billion in 2023, showing a significant rise of approximately 134%[195]. - The total liabilities reached ¥117.71 billion in 2024, up from ¥105.11 billion in 2023, reflecting an increase of around 12%[195]. - Owner's equity decreased to ¥36.65 billion in 2024 from ¥39.37 billion in 2023, a decline of about 7%[195]. Operational Efficiency - The overall gross margin for the company in 2024 is 14.81%, slightly up from 14.14% in the previous year, with specific product margins: molds at 15.21%, mold tables at 24.58%, and truss ribs at 10.16%[35]. - The production volume of molds was 7,781.79 tons, a decrease of 24.75% year-on-year, while sales volume was 7,794.45 tons, down 21.76%[70]. - The main material utilization rate has improved by 2% in 2024 compared to 2023, while auxiliary material costs have decreased by at least 5%[39]. - The company has reported a 5% reduction in operational costs due to efficiency improvements[107]. Research and Development - Research and development expenses amounted to CNY 5.54 million, a decrease of 5.70% compared to the previous year[66]. - The number of R&D personnel is 9, making up 10.59% of the total workforce[78]. - The company has no capitalized R&D expenditures, indicating a focus on immediate R&D costs[77]. - The company plans to actively expand its wind power mixed tower steel mold business in 2025 and leverage its technical advantages to stabilize and expand its municipal road and bridge, underground space, and building PC mold products[145]. Governance and Compliance - The company is committed to improving its governance structure and ensuring compliance with regulatory requirements to support sustainable development[99]. - The company maintains independence from its controlling shareholder, with no significant related party transactions beyond necessary daily operations[100]. - The board of directors consists of 7 members, including 3 independent directors, and held 7 meetings during the reporting period[100]. - The supervisory board has 3 members, including 1 employee representative, and convened 5 meetings, ensuring compliance with legal and regulatory requirements[101]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate information is available to all shareholders[102]. - There were no insider trading incidents reported during the period, indicating compliance with insider information regulations[102]. Market and Strategic Initiatives - The company is actively reducing its reliance on housing PC molds due to market conditions, focusing instead on non-housing mold business[32]. - The company has successfully secured over 10 million yuan in overseas orders for mold tables during the reporting period, marking a significant achievement in international market expansion[37]. - The company plans to expand its business scope by establishing a new holding subsidiary for computing power construction, operation, and maintenance to mitigate operational risks[123]. - The company will continue to develop new products and expand into overseas markets through participation in international exhibitions and partnerships with distributors[89]. Financial Management - The company has implemented measures to seek financial support from its controlling shareholders and their concerted actors to ensure normal business operations[151]. - The company received loans of 2 million RMB and 3.5 million RMB from its indirect controlling shareholder, with an outstanding amount of 3.5 million RMB as of July 5, 2021, which will be repaid by December 31, 2024[155]. - As of December 31, 2024, the company has an outstanding loan balance of 3 million RMB from its indirect controlling shareholder, with agreements to extend the repayment dates to August 9, 2024, and January 11, 2025[156]. - The company received additional loans totaling 16.6 million RMB, 2 million RMB, and 2.2 million RMB from its indirect controlling shareholder, with a total outstanding loan balance of 23.8 million RMB as of December 31, 2024[157].