KSHG(SH:605333)2025-04-25 11:40Financial Performance - The company's operating revenue for 2024 reached ¥7,913,518,550.83, representing a 97.70% increase compared to ¥4,002,754,622.27 in 2023[23] - The net profit attributable to shareholders for 2024 was ¥670,343,984.96, a significant increase of 1,139.15% from ¥54,096,877.56 in 2023[23] - The net profit after deducting non-recurring gains and losses was ¥657,608,251.03, up 1,546.71% from ¥39,934,785.00 in the previous year[23] - Cash flow from operating activities for 2024 was ¥387,001,081.80, a 36.01% increase from ¥284,532,214.15 in 2023[23] - The total assets of the company at the end of 2024 were ¥7,086,500,068.25, reflecting a 26.57% increase from ¥5,598,693,084.50 at the end of 2023[23] - The net assets attributable to shareholders increased to ¥2,225,959,448.66, a 44.17% rise from ¥1,543,939,095.48 in 2023[23] - The company reported a basic earnings per share of 1.53 yuan, a significant increase of 1,175.00% compared to 0.12 yuan in the previous year[24] - The weighted average return on equity rose to 35.88%, an increase of 32.30 percentage points from the previous year[24] Market and Industry Trends - The automotive market is experiencing robust growth, with domestic passenger car production and sales increasing by 5.2% and 5.8% respectively in 2024[37] - New energy vehicle production and sales reached 12.89 million units, marking a year-on-year growth of 34.4% and 35.5% respectively[37] - The global automotive industry is undergoing a technological revolution, with the new energy vehicle (NEV) sector entering a rapid development phase, transitioning from policy support to market-driven growth[38] - The NEV industry has seen continuous growth, with sales ranking first in the world for ten consecutive years, supported by various government policies promoting NEV development[43] - The automotive wiring harness industry is characterized by high customization and is heavily reliant on the development of downstream automotive manufacturers, with a competitive landscape dominated by a few foreign and joint venture companies[101] Company Strategy and Operations - The company is actively expanding its customer base and has secured stable orders, contributing to rapid revenue growth[26] - The company focuses on the research, production, and sales of automotive high and low voltage wiring harnesses, with a diverse product range including engine harnesses and battery pack harnesses[44] - The company is accelerating the intelligent upgrade of its manufacturing processes, implementing automated production lines and digital management systems to improve efficiency and quality[47] - The company aims to become a leading global supplier in the wiring harness industry, focusing on high-quality development and innovative solutions[45] - The company is committed to digital transformation, optimizing data governance and enhancing supply chain collaboration through industrial internet applications[48] Customer and Market Expansion - The company has successfully expanded its customer base, securing new orders from major automotive manufacturers such as Geely, BMW, and Volkswagen, enhancing its market presence[46] - The company is actively expanding its market presence and has established an engineering center in Shanghai to enhance customer service and resource integration[62] - The company is focusing on lean management to optimize production processes and reduce costs, aiming for dynamic control of revenues and resource matching[56] - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $50 million allocated for potential deals[126] Research and Development - Research and development expenses increased by 23.46% to 257,736,226.77 RMB, driven by investments in new projects and technologies[67] - The company has established a dedicated robotics research team to explore and develop wiring harnesses for robots, aiming to capitalize on the rapidly growing market for humanoid robots[105] - The company is investing $10 million in R&D for new technologies aimed at enhancing product efficiency[126] Corporate Governance and Compliance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and promoting transparency and fairness in shareholder rights[120] - The board of directors is elected following legal procedures, and independent directors actively participate in decision-making processes to safeguard shareholder interests[121] - The company has a performance evaluation and incentive mechanism for senior management, aligning their interests with those of the shareholders[123] - The company is committed to enhancing information disclosure management and compliance with relevant laws and regulations[131] Environmental and Social Responsibility - The company invested 82.57 million yuan in environmental protection during the reporting period[160] - The company reduced carbon emissions by 10,113 tons through various measures, including the implementation of photovoltaic power generation projects and energy-saving equipment upgrades[163] - The company made a total donation of 50.33 million yuan for public welfare projects during the reporting period[164] Financial Management and Investments - The company raised a total of CNY 91,553.00 million through public offerings, with a net amount of CNY 86,157.05 million after deducting issuance costs[188] - The company has fully utilized the raised funds from its initial public offering by December 24, 2020[189] - The company plans to use up to CNY 100,000,000 of idle raised funds to temporarily supplement working capital, with a repayment period not exceeding 12 months[197] - The company has not reported any changes or terminations of fundraising projects during the reporting period[194]