CRUN(SZ:002272)2025-04-25 12:50Financial Performance - The company reported a total revenue of 484,877,300 RMB for the fiscal year 2024, with no cash dividends or stock bonuses distributed to shareholders [4]. - The company's operating revenue for 2024 was ¥1,596,928,791.88, a decrease of 4.01% compared to ¥1,663,563,990.65 in 2023 [6]. - The net profit attributable to shareholders for 2024 was -¥115,689,617.41, representing an 81.91% decline from -¥63,597,122.06 in 2023 [6]. - The net cash flow from operating activities for 2024 was -¥130,148,272.80, a significant decrease of 247.46% compared to ¥88,261,789.72 in 2023 [6]. - The company's total assets at the end of 2024 were ¥3,297,515,848.19, an increase of 0.79% from ¥3,271,535,129.30 at the end of 2023 [6]. - The net assets attributable to shareholders increased by 7.97% to ¥1,514,114,176.29 at the end of 2024, up from ¥1,402,318,062.91 at the end of 2023 [6]. - The company achieved total operating revenue of 1,596.93 million yuan, a year-on-year decrease of 4.01%, while the comprehensive gross margin increased by 2.34% to 17.73% [59]. - Revenue from the high-end equipment manufacturing segment accounted for 98.19% of total revenue, totaling approximately ¥1.57 billion, down 1.57% year-over-year [71]. - The clean energy equipment and solutions segment saw a revenue increase of 26.71%, reaching approximately ¥659.76 million, compared to ¥520.67 million in 2023 [71]. - The company reported a total shareholding reduction of 131,098 shares due to the repurchase and cancellation of restricted stock incentives [162]. Profit Distribution and Dividends - The board of directors has approved a profit distribution plan based on the aforementioned revenue figure, indicating a focus on retaining earnings for future growth [4]. - The company has established a comprehensive profit distribution policy, adhering to the "Future Three Years (2023-2025) Shareholder Dividend Return Plan" regarding cash dividends [195]. - The company approved a cash dividend distribution plan for 2023, distributing 0.5 CNY per 10 shares, totaling 24,243,865 CNY (including tax) to shareholders [196]. - The total number of shares for the dividend distribution is 484,877,300 shares [196]. - The company plans not to distribute cash dividends for 2024, nor issue bonus shares or convert capital reserves into share capital [200]. - The decision for no cash dividends in 2024 is based on the need to support daily operations and future funding requirements [200]. - The cash dividend policy complies with the company's articles of association and shareholder resolutions [197]. - The company did not propose any cash dividend distribution in the reporting period despite having positive distributable profits [198]. - The cash dividend total for the reporting period was 0 CNY, with no shares issued as dividends [198]. - Independent directors have fulfilled their responsibilities in the decision-making process regarding dividends [197]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies, although specific details on new products or technologies were not disclosed in the report [4]. - The company is focusing on high-end energy equipment manufacturing and industrial services, with applications in renewable energy, clean power, and energy storage [25]. - The company is actively expanding into digital energy, military equipment, and international markets, particularly in offshore wind and liquid cooling businesses [25]. - The company aims to enhance its product competitiveness by optimizing product structure and exploring international markets, particularly in the renewable energy sector [32]. - The company is actively expanding its market presence in Europe, Southeast Asia, the Middle East, and Central Asia, while strengthening its collaboration with leading customers in the industry [44]. - The company is focusing on expanding its international market presence while increasing its domestic market share in the renewable energy sector [69]. - The company plans to enter two new international markets by Q2 2024, aiming for an additional $75 million in revenue [9]. - The company is enhancing its international market strategy to mitigate risks associated with geopolitical and economic uncertainties [139]. Research and Development - The company has implemented 29 technology R&D projects during the reporting period, with 11 projects completed and 69 patent applications filed, of which 50 were accepted [49]. - The company has a total of 264 technology patents, including 40 invention patents, 213 utility model patents, and 11 design patents as of December 31, 2024 [49]. - The company has increased its R&D investment, with R&D expenses growing compared to the same period last year, focusing on innovations in new energy, liquid cooling, and offshore wind power [59]. - The company is developing key technologies for liquid cooling systems to support new markets such as data centers and energy storage [83]. - The company aims to enhance product reliability and reduce production costs through the development of an integrated lubrication system [83]. - The company is working on a smart energy cloud platform to improve operational management and enhance market competitiveness [83]. - The company has filed 50 technology patents during the reporting period, including 12 invention patents, and has been involved in setting industry standards [63]. Risk Management - The company acknowledges various risks including market risk, raw material price fluctuations, and international market expansion risks, highlighting the need for strategic risk management [4]. - The company is addressing market risks by continuously optimizing its product mix and enhancing core competitiveness [136]. - The company is taking measures to stabilize raw material prices through supply chain management and strategic partnerships [137]. - The company is implementing risk management measures to mitigate the impact of foreign exchange rate fluctuations on its international business revenue [140]. - The company is aware of potential risks related to macroeconomic changes and is prepared to adjust its strategies accordingly [142]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, enhancing its operational transparency and protecting shareholder rights [147]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with governance standards [150]. - The company has a performance evaluation and incentive mechanism in place for its management personnel to enhance work motivation [152]. - The company actively respects and protects the rights of stakeholders, including suppliers, creditors, and employees, to promote sustainable development [154]. - The company has conducted investor relations activities to discuss business development, financing progress, and future strategies [143]. - The company has established a dedicated investor relations management team, with the chairman as the primary responsible person, ensuring regular analysis of market dynamics and financial performance [156]. - The company maintains independence from its controlling shareholders in business, personnel, asset, institutional, and financial aspects, ensuring no unfair transactions or interference [158]. - The company has an independent financial department that adheres to accounting standards and manages its financial decisions without shared bank accounts with controlling shareholders [159]. Employee and Training Initiatives - The total number of employees at the end of the reporting period was 1,720, with 1,635 from major subsidiaries and 85 from the parent company [192]. - Employee composition includes 737 production personnel, 112 sales personnel, 300 technical personnel, 31 financial personnel, and 540 administrative personnel [192]. - The company invested over 1 million in training expenses, with 115,602 participants in empowerment training throughout the year [194]. - The company has initiated several training programs, including the "Star Run Plan" for fresh graduates and the "Wolf Warrior Plan" for marketing engineers [194]. - The company has a strategic focus on optimizing performance management and value distribution systems to enhance employee satisfaction [193]. Future Outlook - The company has outlined potential future industry trends and development strategies, although specific forecasts were not provided [4]. - The renewable energy sector is projected to see a 23% year-on-year increase in new installed capacity, reaching 370 million kW in 2024, accounting for 86% of new power installations [115]. - By 2030, China is expected to hold nearly 60% of the global renewable energy installed capacity, with a cumulative addition of 5,500 GW globally [115]. - The company aims to leverage advancements in technology and cost reductions in the wind power sector to drive future growth [116]. - Significant investments will be made in R&D for new energy storage, offshore wind power, and hydrogen energy to boost product competitiveness and market share [128].