智能自控(002877) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 1,093,090,313.50, representing a 6.71% increase compared to CNY 1,024,312,815.68 in 2023[21] - The net profit attributable to shareholders for 2024 decreased by 78.37% to CNY 22,698,355.99 from CNY 104,963,105.04 in 2023[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 79.95% to CNY 20,443,209.24 in 2024[21] - The basic earnings per share for 2024 was CNY 0.06, down 80.65% from CNY 0.31 in 2023[21] - The total assets at the end of 2024 increased by 2.02% to CNY 2,383,251,474.70 from CNY 2,336,133,061.14 at the end of 2023[21] - The net assets attributable to shareholders at the end of 2024 were CNY 1,184,552,155.21, a 1.00% increase from CNY 1,172,801,975.21 in 2023[21] - The cash flow from operating activities for 2024 was negative at CNY -39,611,812.43, a significant decline from CNY 2,202,410.39 in 2023[21] - The weighted average return on equity for 2024 was 1.93%, down 8.49 percentage points from 10.42% in 2023[21] Revenue Breakdown - Control valves accounted for 88.31% of total revenue, amounting to CNY 965,297,933.38, with a growth of 7.14% year-on-year[50] - The valve maintenance and repair segment saw a revenue increase of 29.89%, reaching CNY 95,809,345.72, up from CNY 73,762,395.77[50] - The company’s revenue from the oil and chemical industry represented 55.67%, 68.67%, and 63.70% of its main business income from 2022 to 2024, indicating a strong reliance on these sectors[92] Market Strategy and Expansion - The company plans to expand into new energy, new materials, and environmental protection sectors by 2025, enhancing its industry layout[30] - The company aims to leverage its advantages in materials, design, manufacturing, and operational management to enhance product performance and operational efficiency[31] - The company focuses on a direct sales model, tailoring production based on customer demand, which allows for differentiation across various industries[33] - The company has established five wholly-owned subsidiaries and multiple after-sales service stations across the country, enhancing its market presence[33] - The company aims to replace foreign brands in the high-end control valve market by leveraging its technology, quality, and competitive pricing[40] Research and Development - The company’s R&D efforts led to the development of high-frequency control valves and ultra-high-pressure steam discharge valves, winning national quality innovation awards[36] - The company holds 67 invention patents, 162 utility model patents, and 20 design patents, showcasing its commitment to innovation[41] - The company’s research and development expenses are focused on developing high-precision control valves and LNG low-temperature valves, aiming for product competitiveness and import substitution[60] - The company’s R&D personnel decreased by 8.88% from 169 in 2023 to 154 in 2024, with the proportion of R&D staff dropping to 15.37%[61] Operational Efficiency - In 2024, the company optimized production processes, improving efficiency and product quality, which is crucial for maintaining a competitive edge in the market[35] - The company has implemented a cost-oriented operational management system to lower operational costs and improve business efficiency[91] - The company aims to reduce production costs and enhance product competitiveness to gain an advantage in the market[90] Cash Flow and Investments - Operating cash inflow decreased by 12.98% to ¥833,930,519.75, while operating cash outflow decreased by 8.64% to ¥873,542,332.18, resulting in a net cash flow of -¥39,611,812.43, a decrease of 1,898.57%[64] - Investment cash inflow increased by 92.54% to ¥251,469,046.85, while investment cash outflow decreased by 34.46% to ¥182,208,405.25, leading to a net cash flow of ¥69,260,641.60[65] Governance and Compliance - The company has established a value management system and disclosed a valuation enhancement plan[97] - The company has implemented internal control systems to enhance governance and operational compliance[99] - The company has maintained a diligent and responsible board of directors, fulfilling their obligations to shareholders[100] - The company has established an independent financial department with dedicated personnel, ensuring compliance in financial accounting and decision-making processes[105] Shareholder Relations - The company plans to distribute a cash dividend of 0.45 yuan per 10 shares, totaling 15,906,333.98 yuan, based on a total share count of 353,474,094 shares[137] - The cash dividend distribution policy emphasizes a stable and reasonable return to investors, with 100% of the distributable profit allocated to cash dividends[139] - The company confirmed a total distributable profit of 519,557,962.80 yuan for the reporting period[139] Environmental Responsibility - The company has established an emergency response plan for environmental incidents, which has been filed with the local environmental authority[150] - The company has developed and strictly follows solid waste and hazardous waste management procedures to minimize environmental impact[150] - The company has conducted regular environmental monitoring through qualified third-party agencies to ensure compliance with emission standards[150] Employee Management - The total number of employees at the end of the reporting period is 1,002, with 824 from the parent company and 178 from major subsidiaries[132] - The company has implemented a stable compensation policy for 2024, focusing on personnel optimization and stability, ensuring fair and motivating salaries[133] - The company has implemented a training program for employees at all levels, focusing on skill enhancement and management efficiency[134] Risks and Challenges - The company faces risks including macroeconomic fluctuations, customer and industry concentration, and gross margin volatility[5] - The company faces risks related to macroeconomic fluctuations, particularly as its business is closely tied to fixed asset investments in key industries like petrochemicals and steel[91]