TPC(SZ:002134)2025-04-25 15:40Financial Performance - The company's operating revenue for 2024 reached ¥1,128,216,723.91, representing a 74.57% increase compared to ¥646,266,845.89 in 2023[18]. - The net profit attributable to shareholders for 2024 was ¥33,864,374.18, up 28.16% from ¥26,424,489.91 in 2023[18]. - The net profit after deducting non-recurring gains and losses was ¥30,518,675.42, showing a slight increase of 0.69% from ¥30,310,951.38 in 2023[18]. - Basic earnings per share for 2024 were ¥0.15, a 36.36% increase from ¥0.11 in 2023[18]. - Total assets at the end of 2024 were ¥1,954,764,453.20, reflecting a 30.10% increase from ¥1,502,564,487.67 at the end of 2023[18]. - The net assets attributable to shareholders increased by 6.54% to ¥480,991,749.18 from ¥451,482,538.11 at the end of 2023[18]. - The weighted average return on net assets for 2024 was 7.23%, up from 5.88% in 2023[18]. - The gross profit margin for the reporting period was 16.79%, a decrease of 5.42% from the previous year, primarily due to customer price reductions[46]. - Domestic sales accounted for 69.63% of total revenue, with a significant increase of 103.41% year-over-year, while overseas sales made up 30.37%, growing by 31.76%[46]. - The company reported a production volume of 927,880,567.93 CNY in 2024, a 56.83% increase from 591,661,001.78 CNY in 2023, largely influenced by the acquisition of Taihe Circuit[49]. Cash Flow and Investments - The net cash flow from operating activities decreased by 66.39% to ¥34,230,561.91 from ¥101,850,766.34 in 2023[18]. - The net cash flow from operating activities for the year was 34,230,461.91 CNY, with a negative cash flow of -23,012,193.43 CNY in Q1, positive cash flow of 42,251,042.35 CNY in Q2, negative cash flow of -7,204,239.21 CNY in Q3, and positive cash flow of 22,195,952.20 CNY in Q4[22]. - The company reported a non-operating income of 3,345,698.76 CNY for the year, compared to -18,477,937.93 CNY in 2022[24]. - Operating cash inflow increased by 63.30% to ¥1,065,178,546.21 in 2024, while cash outflow rose by 87.30% to ¥1,030,947,984.30[59]. - The net increase in cash and cash equivalents was negative at -¥23,081,921.93, reflecting cash flow challenges[60]. Strategic Initiatives and Market Position - The company is focusing on advanced materials and technology development, transitioning from BT materials to ABF materials and eventually to glass materials for PCB production[31]. - The company showcased a glass core substrate developed in collaboration with Huaxing Optoelectronics at the TCL Global Technology Innovation Conference, highlighting its commitment to innovation in the AI industry[34]. - The company has been recognized as one of the top 100 PCB enterprises in China for several consecutive years, reflecting its strong market position and product quality[37]. - The company aims to actively seize opportunities in industry recovery by focusing on both domestic and overseas markets, leveraging its traditional advantages in industrial control and automotive electronics, and expanding into aerospace business with AS9100 and NADCAP certifications[74]. - Following the successful acquisition of Taihe Circuit in 2023, the company has expanded its layout in South China and plans to continue optimizing its product line and seeking opportunities in the upstream and downstream of the industry chain[74]. Research and Development - Research and development expenses rose by 83.63% to 38,139,768.78 CNY, also influenced by the major asset reorganization[56]. - R&D personnel increased by 32.41% from 108 in 2023 to 143 in 2024, with the proportion of R&D personnel rising from 7.30% to 8.11%[57]. - R&D investment surged by 83.63% from ¥20,770,393.61 in 2023 to ¥38,139,768.78 in 2024, accounting for 3.38% of operating revenue[57]. Governance and Compliance - The company has established a value management system and is committed to enhancing its governance structure in compliance with relevant laws and regulations[78]. - The company held one annual general meeting and seven extraordinary general meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[80]. - The board of directors operates in accordance with legal requirements, with a focus on independent directors' roles and the establishment of specialized committees to promote healthy development[81]. - The company maintains transparent performance evaluation and incentive mechanisms for senior management, ensuring compliance with legal standards[82]. - The company emphasizes communication with stakeholders, including shareholders and employees, to balance interests and fulfill social responsibilities[82]. Environmental Compliance - The company is committed to maintaining compliance with environmental regulations and standards in its operations[128]. - The total nitrogen discharge was reported at 123.102 tons, with no exceedance of the discharge standards[129]. - The ammonia nitrogen discharge was reported at 6.98 tons, also within the regulatory limits[129]. - Total wastewater discharge reached 2.46 million tons, with stable compliance to discharge standards[130]. - The company has established a comprehensive solid waste management system, ensuring that general and hazardous waste are handled by qualified recycling and disposal units[147]. Shareholder and Capital Management - The company plans to issue shares to specific investors through a simplified procedure in 2024, subject to board approval[98]. - The company has proposed a three-year shareholder return plan for 2024-2026[99]. - The company approved a stock option incentive plan for 2024, including management assessment methods[99]. - The total remuneration for the board members and senior management during the reporting period amounted to 4.39 million CNY[96]. - The largest shareholder, TCL Technology Group, holds 26.86% of the shares, totaling 66,026,154 shares[191].