ASD(SZ:002403)2025-04-27 07:45Financial Performance - The company's operating revenue for 2024 reached ¥2,925,625,266.21, representing a 19.06% increase compared to ¥2,457,262,624.17 in 2023[6]. - The net profit attributable to shareholders was ¥15,070,898.11, a significant turnaround from a loss of ¥378,401,508.63 in the previous year, marking a 103.98% improvement[6]. - The cash flow from operating activities increased by 59.75% to ¥177,928,220.29 from ¥111,379,264.95 in 2023[6]. - The basic earnings per share improved to ¥0.04 from a loss of ¥1.11 in 2023, reflecting a 103.60% increase[6]. - The total revenue for 2024 reached ¥2,925,625,266.21, representing a year-on-year increase of 19.06% compared to ¥2,457,262,624.17 in 2023[45]. - The industrial sector contributed ¥2,844,220,651.02, accounting for 97.22% of total revenue, with a year-on-year growth of 19.14%[46]. - The cookware segment generated ¥2,155,014,039.51, making up 73.66% of total revenue, and saw a 20.62% increase from the previous year[46]. - Domestic sales amounted to ¥1,585,717,136.06, representing 54.20% of total revenue, with a growth of 5.80% year-on-year[48]. - International sales surged to ¥1,339,908,130.15, accounting for 45.80% of total revenue, reflecting a significant increase of 39.79% compared to the previous year[48]. - The company reported a net profit of ¥87,127,547.93 for the fiscal year 2024, with a 10% statutory surplus reserve of ¥8,712,754.79, leaving an undistributed profit of ¥683,420,755.93[130]. Dividend Distribution - The company plans to distribute a cash dividend of 0.18 RMB per 10 shares to all shareholders, based on a total of 340,638,579 shares[5]. - The company plans to distribute a cash dividend of ¥0.18 per 10 shares (including tax), totaling ¥6,131,494.42, based on a total share capital of 340,638,579 shares[130]. - The total cash dividend distribution accounts for 100% of the profit distribution amount[128]. Market Position and Product Development - The company launched a high-end titanium frying pan, leveraging its technological advancements and market positioning to capture the mid-to-high-end market[29]. - The company maintained its position as the leading domestic cookware brand, with a continuous increase in market share in the cast iron pot category[29]. - The company has developed popular products such as pure titanium far-infrared rice cookers and titanium health pots, focusing on health and smart technology to maintain growth in a competitive market[30]. - The company launched a series of new health-oriented kitchen products, including pure titanium frying pans and health titanium cups, which have received positive market feedback[42]. - The company is currently developing a high-load platform with a capacity of 210kg, which is expected to expand its product line and market presence[59]. Research and Development - The company has been awarded 1,353 national patents, including 66 invention patents, and has actively participated in drafting national and industry standards[36]. - Research and development (R&D) investment amounted to ¥158,269,388.30, representing a 6.51% increase year-on-year, but the R&D investment as a percentage of revenue decreased by 0.64 percentage points to 5.41%[60]. - The number of R&D personnel increased to 793, a growth of 10.14% from 720 in the previous year, with the proportion of R&D staff rising to 20.90%[60]. - The company completed projects aimed at improving the flexibility and durability of ceramic coatings, significantly enhancing product competitiveness in the market[56]. - The development of modified SiC composite powder and coating technology has been completed, improving the wear resistance and high-temperature performance of non-stick cookware[56]. E-commerce and Sales Strategy - The company is expanding its e-commerce business, covering major platforms like Taobao and JD, and is also developing live-streaming e-commerce and cross-border e-commerce initiatives[35]. - The company is enhancing its live-streaming e-commerce strategy, expanding its account matrix and short video content to boost brand visibility and sales[41]. - The management emphasized the importance of e-commerce, with online sales accounting for 40% of total revenue[114]. - The company will enhance its online sales channels, including traditional e-commerce and live-streaming platforms, to penetrate lower-tier markets[88]. Corporate Governance and Management - The company reported a governance structure that complies with relevant laws and regulations, ensuring no significant discrepancies exist with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[96]. - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, institutions, and finances, demonstrating strong autonomous operational capabilities[98]. - The company has established a comprehensive financial management system, operating independent bank accounts and accounting practices, ensuring financial independence from controlling shareholders[99]. - The participation rate in the 2023 annual general meeting was 53.91%, indicating strong shareholder engagement[101]. - The company has a robust independent management structure, with clear responsibilities and decision-making processes[98]. Environmental Responsibility - The company adheres to multiple environmental protection laws and regulations, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[142]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[142]. - The company follows strict industry standards for wastewater and air emissions, ensuring compliance with national regulations[143]. - The company’s wastewater treatment capacity is 4,000 tons per day, operating for 330 days a year, achieving over 60% reuse rate of treated wastewater[148]. - The company reduced carbon emissions by approximately 7,000 tons of CO2 equivalent annually through measures such as solar power generation and wastewater reuse[156]. Challenges and Future Outlook - The company anticipates challenges from the "reciprocal tariff" plan implemented by the U.S. starting in 2025, which may affect its export business[90]. - The company is facing rising labor and raw material costs, prompting it to automate production and optimize supply chain management to mitigate these pressures[91]. - The company is actively engaging in forward foreign exchange contracts to manage risks associated with RMB exchange rate fluctuations[91]. - The company plans to invest in product research and development to maintain competitiveness in the increasingly competitive robotics market[92]. Employee and Labor Relations - The company employed a total of 3,794 staff members, with 1,728 in production, 444 in sales, 976 in technical roles, 154 in finance, and 492 in administration[124]. - The company has established a training program through its Aishida Business School, focusing on dual cultivation of talent mindset and skills[126]. - The company has a competitive salary and benefits policy, ensuring stability and competitiveness within the industry[125]. - The total hours of outsourced labor amounted to 2,165,930, with total payments for outsourced labor reaching ¥45,571,752.60[127].