SINEE(SH:688395)2025-04-25 14:00Financial Performance - The company's operating revenue for 2024 was CNY 366,798,655.05, a decrease of 1.72% compared to CNY 373,227,300.22 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 37,832,410.10, reflecting a decline of 26.00% from CNY 51,124,001.89 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 29,772,678.81, down 32.67% from CNY 44,216,642.69 in 2023[23]. - The net cash flow from operating activities increased by 46.75% to CNY 52,468,510.64 in 2024, compared to CNY 35,753,772.19 in 2023[23]. - The total assets at the end of 2024 were CNY 924,258,455.95, representing a 10.18% increase from CNY 838,886,100.64 at the end of 2023[24]. - The net assets attributable to shareholders increased by 4.53% to CNY 760,206,322.37 at the end of 2024, compared to CNY 727,261,871.49 at the end of 2023[23]. - The company's R&D expenditure accounted for 10.00% of operating revenue, an increase of 1.11 percentage points from the previous year[25]. - Basic and diluted earnings per share were both 0.44 yuan, reflecting a decline of 25.42% from the previous year[25]. - The weighted average return on equity decreased to 5.11%, down 2.19 percentage points from the previous year[25]. - The company reported a revenue of 12,474,970.93 with a gross profit of 5,558,955.10, indicating a strong performance in the latest quarter[87]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares, totaling approximately 12,989,658 RMB, which represents 34.33% of the net profit attributable to shareholders for the year 2024[6]. - The total share capital of the company as of December 31, 2024, is 86,597,720 shares[6]. - The company has not conducted any capital reserve transfer to increase share capital or issued bonus shares for the current year[6]. Operational Risks and Governance - The company has faced various operational risks, which are detailed in the report's risk factors section[4]. - The company has confirmed that there are no violations of decision-making procedures regarding external guarantees[10]. - The company has not reported any instances where more than half of the directors could not guarantee the authenticity and completeness of the annual report[10]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - The board of directors and supervisory board are composed of experienced professionals, ensuring compliance and effective governance in decision-making processes[159]. - The company has held 4 shareholder meetings and 9 board meetings during the reporting period, ensuring all procedures comply with relevant regulations and enhancing governance transparency[160]. Market and Product Development - The company is focused on developing specialized control devices based on general frequency converters, enhancing its position in the industrial automation sector[17]. - The company has been actively expanding its market presence and investing in new technologies to drive future growth[17]. - The company achieved a 165% growth in overseas sales, expanding its presence in emerging markets such as Southeast Asia and the Middle East, and developed several S-level channel partners[37]. - The company launched multiple new products in the industrial automation sector, including the EM880 series multi-function variable frequency drives and the EA320 series high-performance servo systems, enhancing product competitiveness and market coverage[34]. - The company is focusing on innovation-driven development, resulting in increased investment in R&D personnel and technology[33]. - The company is committed to increasing R&D investment to drive product and technology innovation, aiming to provide more efficient and intelligent automation solutions[65]. Acquisitions and Strategic Initiatives - The acquisition of Tenghe Motor was completed, allowing the company to gain control over core servo motor technologies and integrate sales networks and supply chains, enhancing market responsiveness and service capabilities[39]. - The company approved the acquisition of 100% equity in Tenghe Precision Motor (Suzhou) Co., Ltd. during the third extraordinary general meeting of 2024[164]. - The company plans to strengthen its sales business system, emphasizing long-term strategic partnerships with key channel partners[148]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence[171]. Research and Development - The company has achieved a total of 90 authorized patents, including 33 invention patents, 52 utility model patents, and 5 design patents[79]. - R&D investment for the current year reached ¥36,679,749.20, representing a 10.54% increase from the previous year's ¥33,181,235.95[82]. - The company has developed proprietary servo drives and motors, achieving high precision, rapid response, and stable performance, which has established a significant advantage in multiple niche markets[67]. - The company has implemented a project-based development process to improve R&D efficiency and quality, focusing on customer needs[95]. Employee and Management - The total number of employees in the company and its main subsidiaries is 563, with 160 in the parent company and 403 in subsidiaries[191]. - The company has established a fair and effective income distribution and incentive system based on employee roles and performance, including basic salary, performance-based income, and benefits[193]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 4.1277 million RMB[178]. - The total remuneration for core technical personnel at the end of the reporting period was 3.0837 million RMB[178]. Future Outlook - The company provided guidance for Q4 2023, expecting revenue to be between $1.6 billion and $1.7 billion, indicating a potential growth of 10% to 13%[170]. - The company aims to leverage market opportunities to assist manufacturing in digital transformation and intelligent upgrades[62]. - The company plans to invest in smart manufacturing, including the construction of an automated PCBA workshop to improve production efficiency and product quality stability[151]. - The company is committed to improving product lines through technological innovation and enhancing quality control via digital operations[145].