TONGLI RISHENG(SH:605286)2025-04-25 12:30Financial Performance - The company's operating revenue for 2024 reached ¥2,526,011,928.18, representing a year-on-year increase of 3.82% compared to ¥2,433,052,471.27 in 2023[24]. - The net profit attributable to shareholders for 2024 was ¥246,420,822.37, marking a 13.48% increase from ¥217,142,016.61 in 2023[24]. - The net profit after deducting non-recurring gains and losses was ¥241,947,670.47, which is a significant increase of 35.81% from ¥178,151,184.15 in 2023[24]. - The cash flow from operating activities for 2024 was ¥376,973,661.31, up 49.82% from ¥251,614,717.12 in 2023[24]. - The total assets at the end of 2024 amounted to ¥4,585,770,812.25, reflecting a 24.10% increase from ¥3,695,152,644.16 at the end of 2023[24]. - The basic earnings per share for 2024 was ¥1.42, a 15.45% increase compared to ¥1.23 in 2023[25]. - The weighted average return on equity for 2024 was 13.00%, up from 12.68% in 2023[25]. - The company reported a net profit of ¥41,333,274.95 in Q1 2024, with total revenue of ¥486,516,509.92 for the same period[28]. - The net profit attributable to shareholders in Q2 2024 was ¥81,455,519.17, with revenue of ¥839,317,945.42[28]. Dividend Policy - The company plans to distribute a cash dividend of 1.20 CNY per 10 shares, totaling 20,160,000 CNY, which accounts for 8.18% of the net profit attributable to shareholders for 2024[6]. - The company does not plan to increase capital reserves or issue bonus shares in 2024[6]. - The cash dividend distribution plan is subject to approval by the shareholders' meeting[167]. - The company emphasizes a cash dividend policy that prioritizes investor returns while ensuring sustainable development[165]. - The company has maintained a consistent cash dividend policy that aligns with its articles of association and shareholder resolutions[168]. Governance and Compliance - The company has established a comprehensive corporate governance structure, ensuring compliance with laws and regulations, and protecting shareholder rights[133]. - The board of directors operates independently, with no instances of fund or asset misappropriation by the controlling shareholder since the company's listing[134]. - The company has a dedicated secretary for investor relations, ensuring timely and accurate information disclosure to all shareholders[135]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[10]. - The company is committed to improving its governance structure to ensure compliance with legal and regulatory requirements[40]. Risk Management - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[10]. - The company is enhancing its risk management practices to ensure stable cash flow and mitigate potential financial risks[124]. Market Expansion and Strategy - The company is actively expanding its elevator business into overseas markets, including a project in Saudi Arabia[38]. - The company is focusing on high-margin products and expanding its market share in the elevator components sector[38]. - The company is committed to maintaining high safety and quality standards throughout its design, manufacturing, and service processes[123]. - The company is focusing on cost reduction across all processes, including optimizing the supply chain and implementing lean production practices[122]. Research and Development - The company has increased its investment in R&D, with R&D expenses amounting to CNY 70,943,243.44, a decrease of 10.50% compared to the previous year[84]. - The number of R&D personnel is 280, making up 16.68% of the total workforce[96]. - The company is investing $200 million in R&D for new technologies aimed at enhancing product efficiency[142]. Energy Storage and New Energy Projects - The company has successfully completed the first grid connection of several new energy projects, including a 300MW wind-storage hydrogen integration project[39]. - The company is enhancing its storage system integration capabilities, with a focus on large-scale energy storage systems[39]. - The company is developing a new submerged liquid cooling energy storage product, achieving temperature control within 1.2°C during full power operation[40]. - The company is actively expanding its new energy projects, including a 300MW wind-storage-hydrogen integration project expected to be completed by the end of 2024[81]. Financial Health and Investments - The company reported a significant increase in management expenses, rising by 84.77% to 126,156,898.33 due to prior equity incentive costs being reversed[95]. - The company's financial expenses increased by 157.40% to 7,869,893.12, primarily due to higher financial guarantee fees[95]. - The total cash outflow from investment activities surged to approximately ¥2.45 billion, reflecting a 191.71% increase from ¥839.60 million in 2023[99]. Shareholder Engagement - The company held its 2024 first extraordinary general meeting on September 10, 2024, with 72 participants representing 116,485,476 shares, accounting for 69.3365% of the total voting shares[138]. - The company plans to hold its annual general meeting on May 16, 2024, to discuss various proposals including profit distribution and changes to the company's registered capital[137]. - The company is focusing on expanding its market presence and enhancing its operational strategies through shareholder engagement and capital restructuring[137]. Environmental and Social Responsibility - The company does not fall under high-risk or heavily polluting industries, implementing appropriate measures to minimize environmental impact[178]. - The company has not taken any carbon reduction measures during the reporting period[179]. - There was no separate disclosure of social responsibility or ESG reports[180].