CREAT(SZ:002350)2025-04-25 10:10Dividend Distribution - The company plans to distribute a cash dividend of 0.3 yuan per 10 shares (including tax) to all shareholders[5]. - The company has not proposed any stock bonus shares in the profit distribution plan[5]. - The cash dividend distribution will account for 100% of the total distributable profit of 334,599,122.50 yuan for the reporting period[174]. - The company has not proposed any cash dividend distribution plans for the years 2022 and 2023, with retained earnings primarily allocated to support business development and investment needs[171][172]. - The board of directors has established a cash dividend policy that requires a minimum of 10% of the distributable profit to be distributed as cash dividends if certain conditions are met[170]. - In mature stages without significant capital expenditure, the minimum cash dividend proportion should reach 80% of the profit distribution[170]. - The company has engaged with shareholders, particularly minority shareholders, to ensure their interests are protected during the dividend approval process[171]. Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year 2023, representing a year-over-year growth of 15%[16]. - The company expects a revenue guidance of RMB 1.8 billion for the fiscal year 2024, which would be a 20% increase from 2023[16]. - The gross margin for the fiscal year 2023 was reported at 35%, an improvement from 30% in the previous year[16]. - The company reported a significant increase in net profit excluding non-recurring items, reaching ¥38,514,660.31 in 2024, compared to a loss of ¥191,212,368.99 in 2023[23]. - The net profit attributable to shareholders for 2024 was ¥39,208,866.22, a significant turnaround from a loss of ¥167,023,147.01 in 2023, representing a 123.48% increase[23]. - The company achieved operating revenue of CNY 204,246.40 million, a year-on-year increase of 4.58%, with electrical products (including new energy products) contributing CNY 192,474.22 million, up 4.87%[56]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5]. - The report includes a section on risk factors and countermeasures related to the company's future development outlook[5]. - The company is closely monitoring regulatory changes to mitigate policy risks associated with hedging activities[96]. - The company has established a comprehensive trading management system to control operational risks in derivative trading[96]. - The company has implemented risk control measures to match hedging activities with production needs, avoiding speculative trading[96]. Research and Development - The company has invested RMB 200 million in R&D for new technologies in energy storage solutions[16]. - The company is actively exploring new energy business and integrated energy services, focusing on IGBT and light-storage hydrogen technology[32]. - The company is investing in R&D for new technologies, with an allocated budget of $50 million for the upcoming year[143]. - Research and development investments increased by 30%, focusing on sustainable energy technologies[149]. - The company has completed several key R&D projects, including a new type of pressure-sealed air-insulated switchgear, which meets the latest national grid standards and is expected to capture significant market demand in the low-carbon sector[75]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[16]. - The company plans to enter the European market by Q3 2024, aiming for a revenue contribution of 300 million in the first year[150]. - Market expansion efforts include entering three new international markets by Q3 2024, aiming for a 10% increase in global market share[144]. - The company plans to enhance its digital marketing strategy, aiming for a 20% increase in online sales[144]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 100 million allocated for potential deals[146]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report[4]. - The company maintains independence from its controlling shareholder, with no business competition or asset occupation issues reported[127]. - The company has established a transparent performance evaluation and incentive mechanism for management, aligning with annual operational goals[125]. - The company has developed a comprehensive organizational structure, maintaining independence in operations, personnel, and financial management[128]. - The company guarantees that its business processes and decision-making are independent and not influenced by Qin Coal Sales or its controlled entities[190]. Internal Control and Compliance - The internal control evaluation report indicated that 97.00% of total assets and 99.00% of total revenue were included in the evaluation scope[181]. - There were no significant internal control deficiencies identified in financial reporting, with zero major or important deficiencies reported[182]. - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the internal control audit report[182]. - The company has not reported any significant issues related to corporate governance or compliance during the reporting period[183]. - The company has established independent banking accounts and will fulfill its tax obligations independently, free from interference from Qin Coal Sales[190]. Shareholder Engagement - The company held 1 annual general meeting and 5 extraordinary general meetings during the reporting period, reviewing 22 proposals[123]. - The company actively engages with investors through various communication channels, enhancing transparency and investor relations[126]. - The company has scheduled multiple shareholder meetings to discuss various strategic proposals and financial reports throughout 2024[153]. - The company has established a cash dividend policy that requires a minimum of 10% of the distributable profit to be distributed as cash dividends if certain conditions are met[170]. - The company has engaged with shareholders, particularly minority shareholders, to ensure their interests are protected during the dividend approval process[171]. Employee Management - The total number of employees at the end of the reporting period is 1,307, with 866 in the parent company and 441 in major subsidiaries[163]. - The employee composition includes 434 production personnel, 181 sales personnel, 417 technical personnel, and 111 management personnel[163]. - Employee training coverage is 100%, with a total of 8,800 training sessions conducted throughout the year, averaging 18 hours of training per employee[166]. - The company aims to establish a competitive salary incentive system, focusing on performance-driven compensation and effective employee motivation strategies[164]. - The company has a total of 47 employees with a master's degree or above, and 475 with a bachelor's degree[163].