RAYNEN(SH:603933)2025-04-25 11:10Financial Performance - The company's operating revenue for 2024 was CNY 1,936,350,089.89, representing a 4.72% increase compared to CNY 1,849,149,510.72 in 2023[22]. - The net profit attributable to shareholders for 2024 decreased by 37.62% to CNY 36,928,909.08 from CNY 59,195,781.80 in 2023[22]. - The basic earnings per share for 2024 was CNY 0.1779, down 37.38% from CNY 0.2841 in 2023[23]. - The weighted average return on equity for 2024 was 2.87%, a decrease of 1.83 percentage points from 4.70% in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 138,407,405.30, a decrease of 5.04% compared to CNY 145,746,437.16 in 2023[22]. - The total assets at the end of 2024 were CNY 2,348,465,029.98, reflecting a 4.61% increase from CNY 2,244,888,494.33 at the end of 2023[22]. - The company reported a significant decline in net profit in Q4 2024, primarily due to increased tax expenses and impairment losses[26]. - Non-recurring gains and losses for 2024 totaled CNY 7,796,325.83, compared to CNY 9,880,334.64 in 2023[28]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares to all shareholders, totaling RMB 12,452,674.50 (including tax) based on a total share capital of 207,544,575 shares[6]. - The total cash dividends for the year 2024 amount to RMB 18,679,011.75 (including tax), which represents 50.58% of the net profit attributable to shareholders of the listed company, amounting to RMB 36,928,909.08[6]. - The company has implemented a mid-year profit distribution in November 2024, distributing RMB 0.30 per 10 shares, totaling RMB 6,226,337.25 (including tax)[6]. - The total cash dividends distributed over the last three fiscal years amount to RMB 58,647,707.25, with an average annual net profit of RMB 49,930,478.97, resulting in a cash dividend ratio of 117.46%[155]. Corporate Governance - The company has received a standard unqualified audit report from Huaxing Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring proper governance[4]. - The company has improved its internal control system and governance structure in compliance with relevant laws and regulations, ensuring effective operation and risk management[120]. - The board of directors consists of 7 members, including 3 independent directors, and has held 8 meetings in the 2024 fiscal year to ensure sound decision-making[121]. - The supervisory board, comprising 3 members, has also conducted 8 meetings in the 2024 fiscal year to oversee compliance and protect shareholder interests[122]. - The company has established a comprehensive internal control system, with an external audit conducted by Huaxing Accounting Firm to assess the effectiveness of its financial reporting controls[123]. Market and Industry Trends - The global industrial automation market is projected to reach 509.59 billion USD in 2024, with a year-on-year growth of approximately 6.0%[41]. - The PLC market is expected to decline by 18.9% in 2024, while the medium and high-voltage inverter market is projected to grow by 5.0%[43]. - The industrial automation market in China has shown only one quarter of slight positive growth in the past nine quarters, with the OEM automation segment experiencing a continuous decline for 11 quarters, while project automation has started to show a downward trend since Q2 2024[44]. - The OEM market declined by 5% year-on-year, with growth observed in packaging, plastic, and textile machinery, while demand for lithium battery and photovoltaic equipment remains sluggish[44]. - The global semiconductor market is projected to reach approximately $627.6 billion in 2024, with an expected growth to $697 billion in 2025, reflecting an 11% year-on-year increase[48]. Research and Development - The company has established a robust supply chain management system, ensuring quality and timely delivery through a digital and lean production approach[59]. - The company holds 217 valid patents, including 123 invention patents, reflecting its commitment to R&D and innovation in automation and semiconductor technologies[62]. - The company has implemented a three-generation R&D strategy to integrate emerging technologies like AI and IoT into its product offerings, aiming to enhance market share and competitiveness[107]. - Research and development expenses increased by 10.09% to 123,205,943.96 CNY, indicating a focus on innovation[69]. Environmental Responsibility - The company has obtained ISO14001 environmental management system certification, ensuring compliance with environmental laws and regulations[166]. - The company has implemented measures to reduce carbon emissions, promoting green office practices and electronic workflows to minimize paper usage[167]. - The company has established strict environmental operation standards and emergency procedures to prevent environmental incidents[166]. - The company actively engages in environmental protection awareness campaigns among employees[167]. Risk Management - The company faces risks related to macroeconomic fluctuations that could impact its industrial automation and IC distribution businesses, particularly in the manufacturing sector[110]. - The company has established a robust bad debt provision policy and customer credit review system to mitigate the risk of increasing accounts receivable due to economic downturns or poor customer performance[116]. - The company has a high concentration of suppliers in its IC distribution business, which poses risks if relationships with key manufacturers change[113]. - The company is addressing inventory risks due to fluctuations in semiconductor market prices, which could affect its operational performance if sales forecasts do not align with actual demand[115]. Talent Management - The company is actively recruiting management and technical talent, implementing a national campus recruitment plan to build a robust talent pipeline[38]. - The company emphasizes the importance of human resource development, focusing on new employee training and key position professional training to enhance employee skills and knowledge sharing[148]. - The company employed 382 R&D personnel, making up 29.27% of the total workforce[83]. Shareholder Relations - The company is committed to maintaining effective communication with shareholders through various channels, ensuring all shareholders have access to important information[121]. - The company held its 2023 annual general meeting, approving the board and supervisory committee reports[127]. - The company plans to elect new members to the board and supervisory committee in the upcoming extraordinary general meetings[127][131].