KENGIC(SH:688455)2025-04-25 14:43Financial Performance - The company reported a net loss attributable to ordinary shareholders of RMB -58,626,845.09 for the fiscal year ending December 31, 2024[4]. - The company's operating revenue for 2024 reached ¥1,393,603,611.09, representing a year-on-year increase of 21.35% compared to ¥1,148,462,679.85 in 2023[22]. - The net profit attributable to shareholders of the listed company improved by ¥19,302,300, with a loss of ¥58,626,845.09 in 2024 compared to a loss of ¥77,929,137.35 in 2023[24]. - The gross margin increased by 2.36% year-on-year, contributing to the narrowing of losses despite an increase in total expenses[24]. - The company's operating profit was -83.85 million yuan, a year-on-year reduction in losses of 18.28%[37]. - The net profit attributable to the parent company was -58.63 million yuan, a year-on-year reduction in losses of 24.77%[37]. - The total assets of the company increased by 10.30% to ¥2,911,203,896.43 in 2024 from ¥2,639,278,554.53 in 2023[22]. - The weighted average return on equity improved to -5.15% in 2024, up from -6.13% in 2023, indicating a slight recovery in profitability[23]. - The net cash flow from operating activities decreased by 175.08% year-on-year, primarily due to a decline in new order scale from ¥2,357,000,000 in 2023 to ¥1,930,000,000 in 2024[26]. - The company's management expenses increased by 22.32% to ¥107,978,500 in 2024, driven by talent acquisition and optimization efforts[25]. Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the fiscal year 2024 due to its current operating conditions and funding needs[4]. - A total of 13,503,931 shares were repurchased during the fiscal year, with a total expenditure of RMB 122,704,951.33, which is considered equivalent to cash dividends[5]. - The first two phases of share repurchase were completed successfully, with a cumulative repurchase amount of RMB 109,832,826.05, while the third phase aimed at share cancellation amounted to RMB 12,872,125.28[5]. - A total of 210 million to 420 million RMB has been allocated for share repurchase plans to stabilize market expectations and enhance shareholder confidence[53]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company has not faced any issues with a majority of directors being unable to ensure the authenticity and completeness of the annual report[12]. - The company held a total of 4 shareholder meetings during the reporting period, all of which were conducted in compliance with relevant laws and regulations[186]. Research and Development - Research and development expenses rose to ¥97,350,200, a 33.14% increase from the previous year, reflecting the company's focus on new industry solutions and core technology development[24]. - The company achieved a total R&D investment of ¥97,350,213.88, representing a year-on-year increase of 33.14%[104]. - R&D expenses accounted for 6.99% of total revenue, an increase of 0.62 percentage points compared to the previous year[105]. - The company added 36 new intellectual property rights during the reporting period, including 22 new domestic and foreign invention patents[102]. - The company has developed core technologies in intelligent logistics and manufacturing, including intelligent conveying systems, intelligent sorting systems, and intelligent warehousing systems, achieving a throughput of up to 3,600 items per hour for its automatic high-speed importing platform[98]. Market Expansion and Strategy - The company has expanded its international presence to 17 countries, with overseas business accounting for over 50% of total revenue, enhancing its competitiveness in the global market[88]. - The company has achieved overseas order amounts of 395 million CNY, 487 million CNY, 627 million CNY, and 1.136 billion CNY for the years 2021, 2022, 2023, and 2024 respectively, indicating a steady growth in overall overseas business scale[89]. - The company plans to continue focusing on the collaborative development of smart logistics, smart warehousing, smart factories, and new energy businesses, while expanding its overseas market presence[91]. - The company is committed to enhancing its digital operations and cost management to mitigate risks associated with potential performance declines due to macroeconomic changes[123]. Technology and Innovation - The company has implemented a digital transformation strategy focusing on "customer experience upgrade, operational quality improvement, and employee satisfaction creation" with significant progress in 2024[49]. - The company is investing heavily in IT infrastructure, including core network upgrades and cloud computing platforms, to enhance data processing capabilities and support digital applications[51]. - The company has developed a comprehensive supply chain network tailored to the new energy sector, significantly improving market competitiveness and response speed[48]. - The company is leveraging advanced technologies such as automatic control and intelligent scheduling systems to optimize warehouse operations[108]. Risks and Challenges - The company has outlined various risks it may face in its operations, which are detailed in the report[3]. - The company faces risks related to high customer concentration, particularly in the express logistics and e-commerce sectors, which may impact future revenue stability[126]. - The company’s projects typically have a long implementation cycle of 9-12 months, which can lead to significant inventory balances and affect operational cash flow[127]. - The company faces risks from market demand fluctuations and intensified competition in the smart logistics and manufacturing sectors[130]. Corporate Governance - The company’s board of directors consists of 7 members, with no changes in shareholding reported[188]. - The company has established a performance-based remuneration system for its executives, linking pay to individual and company performance[197]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 700.46 million RMB[197]. - The company has maintained a consistent approach to governance and remuneration, ensuring transparency and accountability in its operations[197].