LEEJUN(002651)2025-04-25 11:20Financial Performance - The company's operating revenue for 2024 was CNY 776,248,698.71, a decrease of 27.63% compared to CNY 1,072,671,593.65 in 2023[18] - The net profit attributable to shareholders for 2024 was CNY 120,099,825.25, down 2.28% from CNY 122,899,732.01 in 2023[18] - The net profit after deducting non-recurring gains and losses increased by 6.81% to CNY 117,075,801.25 in 2024 from CNY 109,610,442.67 in 2023[18] - The net cash flow from operating activities rose by 28.71% to CNY 344,986,041.17 in 2024, compared to CNY 268,031,333.93 in 2023[18] - The total assets at the end of 2024 were CNY 3,448,606,078.22, an increase of 4.74% from CNY 3,292,560,360.25 at the end of 2023[18] - The net assets attributable to shareholders increased by 3.07% to CNY 2,779,628,449.49 at the end of 2024 from CNY 2,696,898,622.36 at the end of 2023[18] - The weighted average return on net assets for 2024 was 4.39%, a decrease from 4.65% in 2023[18] - The company's total revenue for the four quarters was approximately ¥876 million, with the highest revenue in Q4 at ¥226.26 million[22] - The net profit attributable to shareholders for the year was approximately ¥115 million, with a significant loss of ¥0.98 million in Q4[22] - The net cash flow from operating activities was positive in three out of four quarters, totaling approximately ¥345 million for the year[22] Business Operations - The company has not reported any significant changes in its main business operations since the acquisition of Chengdu Dekun Aviation Equipment Manufacturing Co., Ltd. in 2015[17] - The grinding system and supporting equipment manufacturing business is closely tied to the development of the cement, mining, and metallurgy industries, which are currently facing challenges due to economic uncertainties[27] - The company has established itself as a leading domestic enterprise in the grinding system sector, focusing on high-efficiency, energy-saving, and environmentally friendly products[28] - The aerospace component manufacturing business is expanding, with significant investments in production capacity and technology to meet military and civil aviation demands[32] - The company is actively pursuing technological innovation and optimization of its industrial layout in response to national policies supporting the aerospace industry[31] - The grinding equipment market is expected to maintain stable demand in the long term, driven by infrastructure construction and urbanization in China[27] - The company has established a sales model that integrates engineering design, equipment supply, and management services, particularly in the cement, mining, and metallurgy industries[35] - The demand for grinding equipment is driven by infrastructure construction, mining, and building materials manufacturing, with a stable growth trend expected in the cement market due to ongoing urbanization efforts[36] Research and Development - The company holds 182 valid national patents, including 66 invention patents and 116 utility model patents, showcasing its strong R&D capabilities in high-efficiency and energy-saving grinding equipment[42] - The company has successfully applied high-pressure roller mills in the mining sector, enhancing market competitiveness through proprietary wear-resistant materials[43] - The aerospace component manufacturing segment has a comprehensive production chain, including design, manufacturing, and assembly, serving major clients like Boeing and Airbus[47] - The company’s subsidiary, Dekun Aviation, has a production capacity exceeding one million pieces annually for sheet metal components, enhancing its competitive edge in the aerospace sector[48] - The company is positioned to leverage industry opportunities by increasing R&D and technological upgrades in the aerospace component manufacturing business[50] - The grinding system and supporting equipment manufacturing business has maintained its core competitive advantages in technology R&D, product quality, and delivery capabilities[50] - The company is increasing investment in technology research and development to enhance innovation and product quality[54] - Research and development expenses increased by 5.00% to ¥46,260,346.42 in 2024, representing 5.96% of operating revenue, up from 4.11% in 2023[83] - The number of R&D personnel increased by 13.13% to 181 in 2024 from 160 in 2023[83] Market and Sales - The company achieved total orders of ¥79,207.24 million in 2024, with significant contributions from aerospace components manufacturing at ¥41,357.67 million[65] - Domestic revenue accounted for 96.43% of total revenue, while overseas revenue dropped by 72.24% to ¥27,699,597.08[66] - The sales volume of roller presses and supporting equipment remained unchanged at 14 units, while production decreased by 38.89% to 11 units[69] - The company reported a significant decline in high-pressure roller mill revenue, down 58.56% to ¥118,576,001.79 from ¥286,116,045.78[66] - The total sales amount from the top five customers was ¥421,460,123.95, accounting for 54.29% of the annual total sales[79] - The company’s total procurement amount from the top five suppliers was ¥89,534,143.32, representing 29.88% of the annual total procurement[80] Financial Management - The company has implemented strict financial control measures to optimize cost management and ensure regulatory compliance[58] - The company is focusing on improving production processes and quality management to enhance overall operational efficiency[55] - The company's operating cost was 472.67 million yuan, down 24.86% year-on-year[62] - The gross profit margin for the manufacturing sector was 38.52%, a decrease of 3.32% compared to the previous year[68] - The company reported a significant decrease in investment income, dropping by 109.56% to -¥141,678.80 in 2024 from ¥1,481,374.60 in 2023[82] - The company reported a 55.67% decrease in income tax expenses to ¥17,611,380.55 in 2024 from ¥39,724,172.14 in 2023 due to a decline in operating income and total profit[82] Corporate Governance - The company has established a comprehensive internal control system to ensure compliance and enhance governance[124] - The company has completed the election of the sixth board of directors and senior management personnel during the reporting period[130] - The sixth supervisory board members have been elected, ensuring compliance with legal regulations[131] - The company has established performance evaluation standards and incentive mechanisms for directors, supervisors, and senior management[131] - The company maintains an independent business operation system, ensuring no competition with controlling shareholders[136] - The company has a clear asset ownership structure, with independent production and operation sites[139] - The company has established independent financial accounting departments and management systems, ensuring no asset occupation by controlling shareholders[141] - The company emphasizes information disclosure and investor relations management, ensuring transparency and fairness[134] - The company has designated specific newspapers and websites for information disclosure, ensuring timely and accurate communication with all investors[134] Employee Relations - The total number of employees at the end of the reporting period is 1,300, with 453 in the parent company and 847 in major subsidiaries[162] - The company has implemented a comprehensive training program across departments to enhance employee skills and technical capabilities[165] - Employee development and welfare are prioritized, with a focus on professional training and a harmonious labor relationship[178] Future Outlook - The company anticipates continued growth in the grinding system and supporting equipment manufacturing business, driven by technological innovation and market expansion[105] - The aviation and aerospace component manufacturing sector is expected to face increased competition and opportunities due to advancements in technology and government support for private enterprises[108] - The company plans to sign contracts worth 668 million yuan for roller presses and high-pressure grinding machines in 2025[113] - The aerospace components manufacturing business is expected to generate a revenue of 325 million yuan in 2025[114] - The company aims to continuously enhance its technological innovation, product upgrades, market expansion, and brand building capabilities[112] - The company will focus on developing efficient, energy-saving, and environmentally friendly grinding technologies to become a leading enterprise in the grinding system equipment sector[110] - The company faces risks from policy adjustments that may impact its aerospace components manufacturing business due to changes in national support policies[116] - The company is exposed to market risks due to increasing competition in the aerospace components sector, necessitating improvements in technology and cost control[120] - The company acknowledges the uncertainty of achieving its 2025 revenue targets, which depend on market conditions and macroeconomic policies[115] Social Responsibility - The company emphasizes corporate social responsibility, balancing economic and social benefits while engaging in charitable activities[178] - The company has implemented measures to protect shareholder rights, ensuring fair and timely information disclosure[178] - No significant actions were taken during the reporting period to consolidate poverty alleviation or rural revitalization efforts[180]