LMC(SZ:002921)2025-04-25 14:20Financial Performance - The company's operating revenue for 2024 was approximately ¥1.075 billion, a decrease of 2.62% compared to ¥1.104 billion in 2023[17]. - The net profit attributable to shareholders for 2024 was a loss of approximately ¥37.96 million, representing a decline of 878.93% from a profit of ¥4.87 million in 2023[17]. - The basic earnings per share for 2024 were -¥0.31, a significant drop from ¥0.04 in 2023, indicating an 875.00% decline[17]. - The weighted average return on equity for 2024 was -3.39%, down from 0.40% in 2023[17]. - The company reported a total operating income after deductions of CNY 1,005,522,812.35 for 2024, compared to CNY 1,023,987,441.62 in 2023[18]. - The company reported a net profit loss for the most recent three accounting years, indicating ongoing uncertainty regarding its ability to continue as a going concern[17]. Cash Flow and Assets - The net cash flow from operating activities increased by 33.87% to approximately ¥139.97 million in 2024, compared to ¥104.56 million in 2023[17]. - The total assets at the end of 2024 were approximately ¥2.373 billion, reflecting a growth of 4.31% from ¥2.275 billion at the end of 2023[17]. - The net assets attributable to shareholders decreased by 9.37% to approximately ¥1.079 billion at the end of 2024, down from ¥1.190 billion at the end of 2023[17]. - The company reported a cash flow from operating activities of CNY 16,453,722.02 in the fourth quarter of 2024[22]. Revenue Breakdown - Sales revenue from automotive parts reached CNY 403,539,400.00, an increase of 10.06%, accounting for 37.54% of total operating revenue[30]. - Passenger vehicle parts revenue reached ¥163,875,921.35, a 19.77% increase year-over-year, with a gross margin of 19.72%[50]. - Agricultural machinery and engineering parts revenue was ¥399,570,215.82, down 4.32% from the previous year, with a gross margin of 10.61%[51]. - Commercial vehicle parts revenue increased by 5.98% to ¥211,370,064.20, with a gross margin of 8.88%[51]. - Total revenue from exports was ¥566,467,367.96, a decrease of 6.53% year-over-year, while domestic sales revenue was ¥464,142,804.69, up 0.77%[51]. Investments and Acquisitions - The company acquired a 64.41% stake in Jiangsu Liancheng Delong Automotive Parts Co., Ltd. for ¥77,295,800.00, fully completed as of the reporting date[88]. - The company established a new subsidiary in Vietnam and acquired 64.4131% of Jiangsu Liancheng Delong Auto Parts Co., Ltd., effective June 30, 2024[59]. - The company invested ¥12,023,605.59 in a precision hydraulic component intelligent manufacturing project, with a total actual investment of ¥106,894,262.43 by the end of the reporting period[90]. Research and Development - Research and development investment amounted to CNY 2,760.33 million, a decrease of 12% compared to the previous year[44]. - The number of R&D personnel increased by 46.63% to 305, with R&D personnel now accounting for 15.96% of the total workforce[67]. - The company completed several R&D projects aimed at improving production efficiency and reducing costs[64]. Governance and Compliance - The company maintains a governance structure that complies with regulatory requirements, ensuring independent operation and decision-making[124]. - The company has established a transparent performance evaluation system for its board and management, linking compensation to performance[125]. - The company has not identified any significant deficiencies in its internal financial reporting controls[126]. - The company has established an effective internal control system, with no significant deficiencies reported during the period[168]. Environmental and Social Responsibility - The company updated its pollutant discharge permit in 2023, which is valid until June 2028, and strictly adheres to the requirements of the environmental impact assessment and discharge permit[177]. - The company emphasizes sustainable development by replacing outdated equipment with energy-efficient devices to reduce energy consumption[181]. - The company has established a charity fund to assist employees facing emergencies or severe illnesses[187]. Market and Competitive Strategy - The company is focusing on optimizing internal management and enhancing core competitiveness amid a complex external environment[29]. - The company plans to enhance its core competitiveness by extending and integrating the industrial chain, focusing on strategic partnerships with major manufacturers[113]. - The company is actively expanding its overseas production capacity and business to mitigate risks from external trade environment changes[120].