STEP(SZ:002527)2025-04-25 17:15Financial Performance - The company's revenue for 2024 was approximately ¥3.36 billion, a decrease of 0.89% compared to ¥3.39 billion in 2023[20]. - The net profit attributable to shareholders for 2024 was approximately -¥288.08 million, an improvement of 24.00% from -¥379.03 million in 2023[20]. - The net cash flow from operating activities for 2024 was approximately ¥111.19 million, down 30.54% from ¥160.07 million in 2023[20]. - The basic earnings per share for 2024 was -¥0.44, an improvement of 22.81% from -¥0.57 in 2023[20]. - Total assets at the end of 2024 were approximately ¥4.18 billion, a decrease of 2.20% from ¥4.28 billion at the end of 2023[20]. - The net assets attributable to shareholders at the end of 2024 were approximately ¥1.25 billion, down 18.48% from ¥1.53 billion at the end of 2023[20]. - The company's weighted average return on equity for 2024 was -20.66%, an improvement of 1.49% from -22.15% in 2023[20]. - The net profit after deducting non-recurring gains and losses for 2024 was approximately -¥339.19 million, a 35.39% improvement from -¥524.98 million in 2023[20]. - The company has experienced negative net profits for the last three accounting years, indicating uncertainty in its ability to continue as a going concern[20]. - The total revenue for 2024 is approximately ¥3.36 billion, a decrease of 0.89% compared to ¥3.39 billion in 2023[112]. Operational Overview - The report period covers the accounting year from January to December 2024[13]. - The report outlines the company's operational structure and key subsidiaries involved in various sectors[13]. - The company has established a framework for real-time operational systems to enhance production efficiency[13]. - The company operates seven production bases, enhancing flexibility and efficiency while reducing production costs[107]. - The company has developed a semiconductor robot in 2022, which has been trialed by several equipment manufacturers and successfully entered some FAB plants[101]. Risk Management - The company faces various risks that are detailed in the management discussion and analysis section of the report[5]. - The company emphasizes the importance of risk awareness regarding future plans and strategic developments[5]. - The company anticipates risks related to macroeconomic fluctuations affecting its diverse downstream industries, and plans to enhance core technology and product competitiveness[161]. - The company faces inventory risks due to rapid product updates and fluctuating raw material prices, and will improve market research and supply chain management[162]. - The company is addressing the risk of increasing accounts receivable by implementing strict credit assessments and improving cash flow management[164]. - The company's overall debt ratio is high, and it will strengthen financial management and adjust its debt structure to ensure stable cash flow[165]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[5]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[177]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements[175]. - The company maintains complete independence from its controlling shareholder in terms of assets, personnel, finance, and operations[181]. - The company actively engages with stakeholders, including employees, creditors, and customers, to balance interests and promote sustainable development[178]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate information is available to all investors[179]. - The company has implemented a robust investor relations management system, facilitating communication through multiple channels[180]. - The board of directors and supervisory board operate independently, ensuring effective oversight of major transactions and financial conditions[176]. - The company has established a comprehensive organizational structure that supports independent operations without interference from shareholders[182]. Research and Development - R&D expenses decreased by 12.88% to ¥203,226,480.55 compared to ¥233,259,764.74 in the previous year[126]. - The number of R&D personnel decreased by 20.88% to 811 from 1,025 in the previous year[128]. - R&D investment as a percentage of operating income was 6.05%, down from 6.89% in the previous year[128]. - The company is in the application promotion stage for several new products, including the SmartX elevator control cabinet and AS320SE inverter, aimed at enhancing product competitiveness and expanding market share[125]. - The company is developing new technologies such as the Ω6 series servo products and high-speed SCARA robots to improve market presence and product offerings[127]. - The company has adjusted its organizational structure, leading to a reduction in R&D personnel, which is expected to optimize resource allocation without significantly impacting operations[128]. Market Trends and Industry Insights - The elevator industry is experiencing a decline in new installations, with a projected 10.6% decrease in real estate investment in 2024, leading to a 4.2% drop in elevator production nationwide[32]. - The government has introduced policies to support infrastructure updates, allocating around ¥300 billion for equipment renewal and upgrades, which may positively impact the elevator market[33]. - The industrial robot market in China is expected to see a slight increase in sales, with an estimated 294,000 units sold in 2024, reflecting a 3.9% year-on-year growth[38]. - The overall automation market in China is projected to be nearly 300 billion yuan in 2024, reflecting a year-on-year decline of 1.7%[53]. - The PLC market is expected to decline by 18.9% year-on-year, with large PLCs primarily dominated by foreign brands[54]. - The global semiconductor manufacturing capacity is projected to grow by 6% in 2024 and 7% in 2025, with China's chip manufacturers expected to see a 15% increase in capacity to 8.85 million wafers per month in 2024[41]. Product Development and Innovation - The company is focusing on integrating advanced technologies such as artificial intelligence and machine learning into its robotics products to enhance their capabilities and market competitiveness[38]. - The company has launched a fully autonomous offline programming software, enhancing advanced application capabilities for industrial robots[67]. - The company has launched a leading semiconductor wafer transfer robot product matrix, covering 8 major series and dozens of different models, capable of replacing imported equipment in the semiconductor industry[72]. - The company aims to achieve 70% self-sufficiency in core semiconductor components and materials by 2025, as outlined in the "Made in China 2025" initiative[72]. - The company is developing humanoid and embodied intelligent robots, with plans to launch these products by 2025, focusing on decision-making and motion control technologies[76]. - The company has introduced a vision-based intelligent welding integration solution, suitable for small-batch, multi-type, and fast-turnaround applications in industries like steel structures and shipbuilding[79]. Shareholder Engagement - The company held 4 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[173]. - The first temporary shareholders' meeting in 2024 had an investor participation rate of 32.97% and approved multiple proposals including the revision of the company's articles of association and the annual financial report for 2023[184]. - The annual shareholders' meeting in 2024 saw a participation rate of 38.00% and included the approval of the 2023 annual profit distribution plan and the proposal for a capital increase[184]. - The second temporary shareholders' meeting in 2024 had a participation rate of 33.77% and addressed the removal of a director and the election of new directors[184]. - The third temporary shareholders' meeting in 2024 had a participation rate of 36.68% and approved a proposal to change the accounting firm[184].