东来技术(688129) - 2024 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2024 is RMB 84,745,308.48, with a distributable profit at year-end of RMB 337,451,215.39[5] - The proposed profit distribution plan includes a cash dividend of RMB 1.50 per 10 shares, totaling RMB 16,677,484.05, which represents 29.52% of the net profit[5] - The total cash distribution for the year, including interim dividends, amounts to RMB 25,016,227.53, accounting for 29.52% of the net profit attributable to shareholders[5] - The company repurchased shares totaling RMB 62,975,868.15, leading to a total profit distribution of RMB 87,992,095.68, exceeding the net profit by 3.83%[6] - Net profit attributable to shareholders increased by 64.00% to ¥84,745,308.48 in 2024 from ¥51,673,626.57 in 2023[21] - The net profit after deducting non-recurring gains and losses surged by 233.25% to ¥51,879,449.27 in 2024, up from ¥15,567,673.78 in 2023[21] - Basic earnings per share rose by 70.45% to ¥0.75 in 2024, up from ¥0.44 in 2023[22] - The gross profit margin for the reporting period was 39.18%, an increase of 6.18 percentage points compared to the previous year[128] Revenue Growth - The company's operating revenue for 2024 reached ¥597,532,684.86, representing a 15.14% increase compared to ¥518,948,207.40 in 2023[21] - The company achieved operating revenue of 597.53 million yuan in 2024, a year-on-year increase of 15.14%[32] - Revenue from new interior and exterior coatings and new vehicle body coatings totaled 291 million yuan, a 16.75% increase, representing 48.89% of main business revenue[33] - The automotive aftermarket segment generated revenue of CNY 249.87 million, with a gross margin of 42.72%, up 6.78 percentage points[130] - Revenue from the 3C consumer electronics segment grew by 31.49%, with a gross margin of 50.49%[132] Research and Development - Research and development expenses accounted for 5.42% of operating revenue in 2024, a slight decrease from 5.68% in 2023[23] - R&D investment for the year was 32.37 million yuan, a 9.78% increase year-on-year, constituting 5.42% of operating revenue[34] - The company holds a total of 63 invention patents and 17 utility model patents as of the end of the reporting period[34] - The company has filed 26 new invention patents and obtained 3 new invention patents during the reporting period[87] - The company emphasizes continuous independent R&D innovation, with all core technologies patented[83] Market Position and Strategy - The company plans to continue focusing on its core business and expanding market presence, which positively impacted its revenue growth[24] - The company has established partnerships with major automotive manufacturers, including BMW, BYD, and Honda, for concentrated procurement and official designated repair paint cooperation[33] - The automotive aftermarket repair coatings market is influenced by the number of vehicles in use, with a projected total of 353 million vehicles in China by 2024, growing at 5.06%[71] - The company is committed to increasing its global market presence by leveraging its core technology and continuous innovation[180] Governance and Compliance - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and effective operation[194] - The company reported no significant differences in governance compared to regulations set by the China Securities Regulatory Commission[194] - The company is committed to adhering to legal and regulatory requirements in its governance practices[194] Investment and Future Projects - The company plans to invest CNY 400 million in a project to build a "10,000-ton water-based environmentally friendly automotive paint" facility, expected to be completed by Q1 2026[120] - The company has initiated construction on its projects, with some buildings already topped out and expected to complete by Q3 2025[174] - The company is accelerating the investment in a "10,000-ton water-based environmentally friendly automotive paint" project and a new R&D production base in Guangdong Province, aiming to enhance production capacity and integrate resources[183] Operational Efficiency - The company operates on a profit model based on proprietary technology and intellectual property, producing automotive aftermarket repair coatings and providing comprehensive professional services[57] - The company employs a just-in-time production model based on historical sales data and annual growth targets, allowing for rapid adjustments to production plans[60] - The company has maintained a stable R&D personnel count of 83, with R&D staff now representing 13.13% of the total workforce, up from 12.89% in the previous period[99] Shareholder Relations - The company will conduct at least three performance briefings for investors in 2025 and improve investor relations through various communication channels[190] - The company has maintained independence from its controlling shareholders, with no significant adverse effects from competition[194]