FU-AN(603315)2025-04-25 10:15Financial Performance - The company's operating revenue for 2024 reached RMB 1,237,282,509.08, representing a year-on-year increase of 21.36% compared to RMB 1,019,534,339.99 in 2023[21]. - The net profit attributable to shareholders of the listed company was RMB 87,545,837.38, up 21.92% from RMB 71,805,441.44 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 89,248,162.72, reflecting a 20.41% increase from RMB 74,122,313.14 in 2023[21]. - The net cash flow from operating activities increased significantly by 81.15% to RMB 78,319,450.63, compared to RMB 43,233,976.67 in 2023[21]. - The total assets of the company as of the end of 2024 were RMB 2,856,948,091.37, a slight increase of 1.49% from RMB 2,814,887,686.65 at the end of 2023[21]. - The net assets attributable to shareholders of the listed company rose to RMB 1,669,457,865.02, marking a 9.66% increase from RMB 1,522,421,864.07 in 2023[21]. - The basic earnings per share for 2024 were RMB 0.2837, an increase of 21.29% compared to RMB 0.2339 in 2023[22]. - The diluted earnings per share also increased to RMB 0.2825, reflecting a 21.92% rise from RMB 0.2317 in the previous year[22]. - The weighted average return on equity improved to 5.64%, up from 4.87% in 2023, indicating a positive trend in profitability[22]. Revenue Breakdown - The company achieved its best delivery record in collaboration with Harbin Turbine Factory, receiving written commendations for quality and timely delivery[40]. - The main business revenue increased by 21.70% to 123,542.85 million CNY, driven by growth in hydropower and other castings, with hydropower casting revenue rising by 9.23% to 23,446.05 million CNY[54][57]. - Other business revenue decreased significantly by 58.03%, primarily due to reduced material sales[55]. - The gross profit margin for the EPC business was 25.20% in 2024, with revenue increasing by 46.69% to 51,631.23 million CNY, attributed to increased environmental investments in the steel industry[62]. - The gross profit from the company's casting manufacturing segment was 6,108.80 million CNY, accounting for 27.49% of total gross profit, showing stable growth in profitability[65]. - Nuclear power casting, a new product line, generated 1,831.19 million CNY in revenue, marking a successful entry into the nuclear market[58]. - The overall gross profit for 2024 was 22,223.20 million CNY, up from 19,496.18 million CNY in 2023, indicating a positive trend in profitability[65]. Research and Development - The company made significant progress in R&D, including the development of CB2 material valve bodies and new casting processes, achieving certification for high-pressure nuclear power components[31]. - The company’s R&D expenses increased by 45.84% to ¥35,568,287.86, driven by new product development and technology upgrades[50]. - The company is focusing on high-end, intelligent, and green development in line with national policies to enhance supply chain security[34]. - The company positions itself as a high-end green manufacturing enterprise, increasing R&D investment and collaborating with domestic and international research institutions to adapt to global sustainable development trends[35]. - The company is advancing the development of duplex stainless steel products, which offer high toughness and corrosion resistance, as part of its forward-looking technology R&D strategy[42]. Environmental Initiatives - The company plans to achieve zero waste discharge from production lines by 2030, enhancing its sustainability efforts[46]. - The company has established a dedicated department for environmental management, ensuring compliance with environmental laws and regulations[151]. - The company has installed 11 dust removal facilities to ensure pollutant emissions meet standards[153]. - The company invested 1,200,000 yuan in environmental protection initiatives during the reporting period[150]. - The environmental protection market in China is projected to exceed 2 trillion yuan in 2024, with a focus on deep governance projects in industries like steel and cement, supported by a funding increase to 34 billion yuan for air pollution prevention[35]. Strategic Partnerships and Market Position - The company holds a 10-year strategic partnership with several Fortune 500 companies, leveraging its advanced technology and quality control capabilities[31]. - The company is responding to the dual carbon policy by accelerating the transition to green casting, which is expected to create more market opportunities[100]. - The company anticipates a continuous increase in market demand for flue gas treatment, driven by stricter environmental regulations across various industries[100]. - The company aims to enhance its high-end product ratio and revenue breakthrough by focusing on "high-end, intelligent, global, and green" strategies by 2025[102]. Governance and Compliance - The board of directors has established a dedicated institution to ensure accurate and timely information disclosure to all shareholders[110]. - The company has established specialized committees within the board, including the Audit Committee and the Compensation and Assessment Committee[127]. - The internal control system has been improved and revised according to regulatory requirements, ensuring compliance and operational efficiency[146]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2024[194]. Shareholder Information - The company reported a total of 4,399,900 shares held by directors and senior management at the end of the reporting period, with a total remuneration of 324.48 million yuan[115]. - The cumulative cash dividend amount over the last three accounting years is RMB 48,384,365.86, with an average cash dividend ratio of 72.70% based on the average net profit of RMB 66,554,205.39[141]. - The company has a cash dividend policy that emphasizes transparency and fairness, ensuring that minority shareholders' rights are protected[135]. - The total number of ordinary shareholders at the end of the reporting period is 16,016, down from 30,686 at the end of the previous month[173]. Financial Management - Total financial expenses decreased by 18.55% to 29,785,068.07 CNY, primarily due to reduced interest expenses and adjustments in financing strategies[81]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[160]. - The company has not faced any delisting risks or bankruptcy restructuring matters during the reporting period[160]. - The company has not reported any significant litigation or arbitration matters for the current year[162].