NBHX(002048)2025-04-25 15:10Financial Performance - The company's operating revenue for 2024 reached ¥26,324,480,805.42, representing a 13.07% increase compared to ¥23,236,260,492.63 in 2023[18] - The net profit attributable to shareholders for 2024 was ¥953,005,012.56, a decrease of 7.51% from ¥1,028,214,027.89 in 2023[18] - Basic earnings per share for 2024 were ¥1.17, down 7.87% from ¥1.26 in 2023[19] - The weighted average return on net assets for 2024 was 8.00%, down from 8.87% in 2023[19] - The company reported a net profit of 322.20 million yuan for the year, reflecting a significant contribution from its subsidiaries[95] - The company’s net profit for the fiscal year 2024 is reported at 290,677,473.57 CNY, with a distributable profit of 3,273,736,577.03 CNY available for shareholders[171] Cash Flow and Investments - The net cash flow from operating activities decreased by 23.79% to ¥2,314,110,060.73 from ¥3,018,537,263.07 in the previous year[18] - The company reported a significant decrease in investment amounting to ¥1,767,729,325.47, a decline of 49.10% compared to the previous year's investment of ¥3,472,827,313.48[73] - Investment cash inflow increased by 36.87% to ¥1,705,087,027.36 from ¥1,245,807,917.74 in 2023[60] - The net increase in cash and cash equivalents decreased by 275.62% to -¥287,985,716.51 from ¥163,978,547.60 in 2023[64] Assets and Liabilities - Total assets at the end of 2024 amounted to ¥29,156,019,017.55, reflecting a 7.03% increase from ¥27,214,923,287.70 in 2023[19] - The net assets attributable to shareholders decreased by 5.86% to ¥11,494,184,548.48 from ¥12,193,751,000.00 in 2023[19] - Accounts receivable increased by 3.18% to ¥7,633,782,950, accounting for 26.18% of total assets[68] - The company’s fixed assets increased by 1.15% to ¥4,802,123,950, which is 16.47% of total assets[68] Revenue Breakdown - Total revenue for the automotive parts segment reached ¥26,324,480,805, representing a year-over-year increase of 13.07% from ¥23,282,449,759[46] - Interior parts generated ¥13,504,431,452, accounting for 51.30% of total revenue, with a growth rate of 17.64% compared to the previous year[46] - Domestic sales contributed ¥20,684,575,551, or 78.58% of total revenue, with an 11.67% increase year-over-year[46] - International sales rose by 18.49% to ¥5,639,905,253.9, making up 21.42% of total revenue[46] Operational Efficiency - The company achieved operating revenue of 26.324 billion yuan in the reporting period, representing a year-on-year increase of 13.07%[43] - The company’s gross margin pressure is attributed to increased upfront costs from new factory operations and the expansion of its own brand customer base[43] - The company reported a gross margin of 35%, which is an improvement from 30% in the previous year[9] Research and Development - The company focuses on R&D in automotive intelligence, lightweighting, modularization, and cost optimization, aiming to continuously upgrade existing products and expand new product categories[4] - The company is investing in the development of new lightweight materials, with a focus on improving performance and reducing weight[84] - The company has allocated a budget of 17.9 million for research and development of new automotive technologies, with a focus on electric vehicle components[85] Market Strategy and Expansion - The company is adapting to the competitive landscape of the automotive industry by emphasizing lightweight, intelligent, and integrated solutions[27] - The company plans to address losses in its European operations by divesting from that market, while improving operational quality in North America to reduce losses[43] - The company is actively pursuing strategic partnerships to participate in the emerging intelligent robotics industry, creating a comprehensive ecosystem[107] Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[189] - The company has maintained compliance with multiple environmental protection laws and standards[189] - The company reported a total wastewater discharge of 33.432 tons, with a chemical oxygen demand (COD) concentration of 398 mg/L, below the regulatory limit of 500 mg/L[3] Governance and Management - The company’s board includes experienced professionals with backgrounds in engineering and economics, ensuring strong governance[132] - The company has a clear remuneration management system for directors, supervisors, and senior management, which was approved by the board[150] - The company has established a three-year shareholder return plan (2023-2025), committing to distribute no less than 40% of the annual distributable profit as cash dividends[166] Shareholder Engagement - The company plans to distribute cash dividends of 6.32 CNY per 10 shares, amounting to a total cash dividend of 381,687,734.22 CNY, which represents 40.05% of the net profit attributable to shareholders[167][171] - The annual shareholders meeting had a participation rate of 65.07% on May 24, 2024[126] - The first extraordinary shareholders meeting in 2024 had a participation rate of 52.46% on December 4, 2024[126]