Kewell(SH:688551)2025-04-25 13:10Financial Performance - The company's operating revenue for 2024 was CNY 478,272,045.87, a decrease of 9.58% compared to CNY 528,950,621.48 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 49,047,968.45, down 58.10% from CNY 117,067,568.13 in 2023[24]. - The net profit after deducting non-recurring gains and losses for 2024 was CNY 39,059,618.43, a decrease of 63.56% compared to CNY 107,180,849.48 in 2023[24]. - The net cash flow from operating activities for 2024 was CNY 69,128,789.82, down 19.03% from CNY 85,379,151.58 in 2023[24]. - The total assets at the end of 2024 were CNY 1,711,537,350.58, a decrease of 1.26% from CNY 1,733,310,189.21 at the end of 2023[24]. - The net assets attributable to shareholders at the end of 2024 were CNY 1,301,294,675.18, a decrease of 0.69% from CNY 1,310,312,164.89 at the end of 2023[24]. - The basic earnings per share for 2024 were CNY 0.59, down 59.31% from CNY 1.45 in 2023[25]. - The company reported a total revenue of 24,899.25 million RMB, with a net profit of 7,439.95 million RMB, reflecting a significant growth in performance[92]. Dividend Distribution - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares, totaling approximately 33.30 million RMB, which represents 67.90% of the net profit attributable to shareholders for the year[7]. - The total amount for cash dividends and share repurchases is approximately 45.12 million RMB, accounting for 91.99% of the net profit attributable to shareholders for the year[7]. - The profit distribution plan has been approved by the board and will be submitted for shareholder approval[8]. - The company does not plan to issue bonus shares or convert capital reserves into share capital[7]. Research and Development - The R&D expenditure as a percentage of operating revenue for 2024 was 16.50%, an increase of 0.94 percentage points from 15.56% in 2023[25]. - The company invested CNY 78.93 million in R&D, accounting for 16.50% of its revenue, and filed 162 new patent applications, including 41 invention patents[40]. - The total R&D investment for the year was approximately ¥78.93 million, a decrease of 4.13% compared to the previous year, while the proportion of R&D investment to operating income increased by 0.94 percentage points to 16.50%[87]. - The company has accumulated a total of 439 patents, including 48 invention patents, 222 utility model patents, and 169 design patents, with 94 new patents obtained during the reporting period[85]. Market and Product Development - The company is focusing on the development of hydrogen energy testing products, with a need for a common software and hardware product development platform due to increasing demand from leading enterprises in mass production scenarios[73]. - The company is strategically positioned to leverage the growing demand for IGBT modules in the photovoltaic and electric vehicle sectors, enhancing its testing capabilities accordingly[152]. - The company aims to expand into semiconductor equipment, automotive electronics, and medical fields, enhancing its product offerings[94]. - The company is expanding its product line to meet the increasing demand for higher precision and efficiency in testing equipment, particularly in renewable energy applications[72]. Operational Challenges - The company attributed the decline in net profit to decreased gross margins in the testing power segment, delayed order deliveries, increased inventory impairment provisions, and rising operational costs[26]. - The overall performance was impacted by intensified market competition and delays in order deliveries[36]. - The company reported a 4.09% increase in operating costs, totaling CNY 263.04 million[113]. - The company produced 3,731 units of testing power supplies, with a sales volume of 3,062 units, reflecting a production decrease of 10.7% and a sales decrease of 3.01% year-on-year[118]. Corporate Governance - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[159]. - The company held 6 board meetings during the reporting period, with all meetings conducted in accordance with relevant regulations, ensuring effective decision-making[159]. - The company has established a robust internal control system to enhance risk prevention capabilities and operational standards[164]. - The company maintains a high level of transparency in information disclosure, ensuring all shareholders can access significant information fairly[165]. Strategic Outlook - The company provided a future outlook with a revenue guidance of 1.5 billion for the next quarter, indicating a growth of 25%[172]. - Market expansion plans include entering three new international markets by Q3 2024[172]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 200 million allocated for potential deals[172]. - The company aims to reduce operational costs by 10% through efficiency improvements in the supply chain[172].