ZJR(SZ:002021)2025-04-25 10:40Financial Performance - The company's operating revenue for 2024 was ¥914,701,015.53, representing a 27.36% increase compared to ¥718,186,577.41 in 2023[18]. - The net profit attributable to shareholders decreased significantly by 97.03% to ¥17,684,681.30 from ¥594,637,601.74 in the previous year[18]. - The net cash flow from operating activities was negative at -¥321,260,722.87, a decline of 387.52% compared to ¥111,733,747.59 in 2023[18]. - The basic and diluted earnings per share dropped by 97.96% to ¥0.01 from ¥0.49 in 2023[18]. - Total assets at the end of 2024 were ¥983,498,878.01, down 39.48% from ¥1,625,051,237.52 in 2023[18]. - The company's net assets attributable to shareholders increased by 2.41% to ¥632,878,613.49 compared to ¥618,013,459.14 in 2023[18]. - The company reported a significant increase in non-recurring gains, totaling ¥4,705,304.59 in 2024, compared to ¥627,049,991.13 in 2023[26]. - The company's operating profit for 2024 was ¥16.38 million, a significant decrease of 97.32% from ¥611.85 million in 2023, primarily due to a one-time debt restructuring gain of approximately ¥630 million in the previous year[66]. - The total cost of production for 2024 was ¥75,427.59 million, up 27.06% from ¥59,365.96 million in 2023, with self-produced costs rising by 23.63% and outsourced costs increasing by 51.55%[75][76]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into capital for the 2024 profit distribution proposal[4]. - The total share capital increased from 687,815,040 shares to 1,205,411,823 shares after a capital increase of 517,596,819 shares[16]. - The second largest shareholder, Guangzhou Rural Commercial Bank, acquired 105,688,798 shares, increasing its holding from 0% to 8.77%[16]. - The company's major shareholder, Yuhuan Hengjie, saw its shareholding diluted from 18.84% to 10.75% after the capital increase[16]. - The company has no controlling shareholder or actual controller as of April 25, 2024[16]. Industry Overview - The sewing machinery industry showed a recovery with a 19.04% increase in operating revenue, reaching ¥316.11 billion in 2024[31]. - The industry profit total increased by 76.72% to ¥17.48 billion, with an operating revenue profit margin of 5.53%, up 2.1 percentage points from the previous year[31]. - The overall production in the sewing machinery industry grew at a rate of 6.3%, indicating a strong recovery trend[33]. - In 2024, the total production of industrial sewing machines in China is approximately 6.85 million units, representing a year-on-year growth of 22.32%[35]. - The domestic sales volume of industrial sewing equipment in 2024 is estimated to be around 2.35 million units, with a year-on-year increase of 27%[38]. - The cumulative export value of sewing machinery products in China for 2024 is $3.424 billion, reflecting a year-on-year growth of 18.39%[44]. - Exports to the RCEP market reached $1.029 billion in 2024, marking a year-on-year increase of 40.90%[46]. Production and Capacity - The company has an annual production capacity of approximately 800,000 industrial sewing machines, positioning it as one of the largest production bases globally[52]. - The company sold 381,332 units of sewing machines in 2024, a 27.47% increase from 299,163 units in 2023[72]. - The company produced 368,100 sewing machine heads, a year-on-year increase of 26.70%, and sold 381,300 units, up 27.47%[93]. Research and Development - The company holds a total of 506 valid patents, including 83 invention patents, 346 utility model patents, and 77 design patents, with 23 patent applications completed in 2024[55]. - Research and development expenses for 2024 were ¥31,866,520.64, an increase of 14.16% from ¥27,913,348.81 in 2023[82]. - The number of R&D personnel increased to 167 in 2024, a rise of 5.03% from 159 in 2023[86]. - The company is focusing on the development of 23 new products across six major product lines, including flat sewing machines and special machines[62]. Environmental Compliance - The company has obtained an environmental discharge permit valid from June 3, 2023, to June 2, 2028, issued by the Taizhou Ecological Environment Bureau[174]. - The company adheres to multiple environmental protection laws and standards, ensuring compliance in its production processes[174]. - The average emission concentration for non-methane total hydrocarbons is 0.32 mg/m³, which is within the regulatory limits[175]. - The company reported a total emission of 2.91 tons for particulate matter, complying with the relevant emission standards[175]. - The company has installed an online monitoring system for environmental self-monitoring, which has passed acceptance by environmental authorities and is functioning properly[177]. Governance and Management - The company has established a comprehensive internal control system, which has been effectively implemented to supervise and guide business operations, ensuring compliance and risk management[129]. - The actual governance status of the company does not significantly differ from the regulations set by the China Securities Regulatory Commission[130]. - The company maintains independence in personnel, assets, business, and financial aspects, with no interference from the controlling shareholder[131][132][133][134]. - The company is currently led by a team with diverse backgrounds in finance, management, and investment[139]. - The board of directors includes experienced professionals from various sectors, enhancing strategic decision-making capabilities[139]. Employee Welfare and Training - The company has implemented various employee welfare policies, including timely payment of social insurance and monthly salaries, as well as additional benefits such as medical assistance and holiday gifts[182]. - The company has established a comprehensive training system, with 20 employees obtaining vocational qualifications in sewing machine assembly[160]. - The total number of employees at the end of the reporting period was 1,178, with 790 in production, 153 in sales, and 167 in technical roles[157]. Legal and Compliance Issues - The company is involved in 127 formal litigation cases related to small investors, with a compensation amount of 3,178.01 million yuan, of which 33.63% has been paid[194]. - The company has a pending case against a natural person and related distributors for 1,150.23 million yuan, which has not yet been heard[195]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[181].