捷昌驱动(603583) - 2024 Q4 - 年度财报

Financial Performance - The company achieved operating revenue of RMB 3,652,016,316.77, representing a 20.37% increase compared to the previous year[29]. - Net profit attributable to shareholders reached RMB 281,976,704.08, marking a 36.91% growth year-over-year[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 241,400,145.50, up 41.33% from the previous year[29]. - The company's net cash flow from operating activities was RMB 508,888,238.52, a decrease of 24.66% compared to last year[29]. - The total assets at the end of 2024 were RMB 6,494,172,233.49, down 3.19% from the end of 2023[29]. - The weighted average return on equity increased to 6.66%, up 1.59 percentage points from the previous year[30]. - The company achieved a main business revenue of ¥3,643,582,336.63, representing a year-on-year growth of 20.65%[59]. - Main business costs amounted to ¥2,571,571,965.93, with a year-on-year increase of 19.74%[59]. - The gross profit margin for linear drive products was 29.42%, an increase of 0.54 percentage points compared to the previous year[62]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling approximately RMB 115 million, which represents a cash dividend payout ratio of 40.80% for the year 2024[7]. - The total cash dividend amount for the current period is RMB 115,036,966.50, which represents 40.80% of the net profit attributable to ordinary shareholders in the consolidated financial statements[151]. - The company has established a profit distribution policy that emphasizes a minimum cash dividend of 20% of the distributable profit for the year, ensuring a balance between investor returns and the company's funding needs[144]. - In the case of a mature development stage with no significant capital expenditures, the minimum cash dividend proportion should reach 80%[145]. - The total cash dividend amount over the last three accounting years is CNY 280,422,771.15, with an average annual net profit of CNY 271,896,952.59, resulting in a cash dividend payout ratio of 103.14%[153]. Research and Development - In 2024, the company's R&D expenses amounted to 232.32 million yuan, accounting for 6.36% of total revenue, ensuring sufficient funding for innovation and technology enhancement[41]. - The company has obtained a total of 941 patents, including 111 domestic invention patents and 109 international invention patents[51]. - Research and development expenses amounted to ¥232,323,168.61, which is an increase of 11.59% compared to the previous year[58]. - The company established a robotics actuator business center to advance R&D in key areas such as linear actuators and hollow cup motors, aiming for systematic development in production and market[41]. - The number of R&D personnel is 653, accounting for 13.79% of the total workforce[73]. Market Strategy and Expansion - The company is enhancing its global layout and integrating overseas resources, particularly in Europe and the U.S.[40]. - The company is actively responding to the "Belt and Road" initiative, focusing on building logistics and production bases in Europe[40]. - The company reported a significant increase in local service capabilities in Europe, enhancing its competitiveness and sustainability[40]. - The company aims to strengthen its overseas R&D, manufacturing, delivery, and service capabilities to create value for global customers[40]. - The company has established production bases in multiple locations, including Ningbo, New Chang, Malaysia, the USA, and Europe, to support global operations[53]. - The company has set up subsidiaries in various countries, including the USA, Germany, and Japan, to enhance its international market presence[53]. Risk Management - The management has outlined potential risks in the future development section of the report[12]. - The company faces risks from macroeconomic fluctuations and cyclical downturns in downstream industries, which could lead to reduced orders and inventory buildup[109]. - The company has been impacted by U.S. tariffs on exports to North America, with a 25% tariff imposed since August 2020, creating uncertainty in trade relations[111]. - The company is at risk of declining gross margins if it cannot maintain high product quality and control costs amid increasing competition[112]. - Fluctuations in raw material prices, such as steel and electronic components, significantly impact production costs and gross margins[112]. - The company is exposed to risks from high customer concentration, with the top five customers holding significant market share, which could lead to operational risks if demand changes[113]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[6]. - The company confirmed that all board members attended the board meeting[5]. - The company has not reported any instances of more than half of the directors being unable to guarantee the authenticity of the annual report[11]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations, adhering to governance standards[120]. - The company held one annual and one extraordinary shareholders' meeting during the reporting period, ensuring compliance with legal and regulatory requirements[119]. Employee Management - The total number of employees in the parent company is 2,354, while the main subsidiaries employ 2,383, resulting in a total of 4,737 employees[140]. - The professional composition includes 2,465 production personnel, 257 sales personnel, 653 technical personnel, 71 financial personnel, and 1,291 administrative personnel[141]. - The educational background of employees shows 16 with a doctorate, 145 with a master's degree, 856 with a bachelor's degree, 983 with a college diploma, and 2,737 with high school or below[141]. - The company has implemented a systematic training plan to enhance employee skills and management capabilities, focusing on project development and R&D management[143]. Environmental and Social Responsibility - The company has invested CNY 1,966,400 in environmental protection during the reporting period[160]. - The company has implemented carbon reduction measures, including the installation of rooftop photovoltaic systems and promoting energy-saving practices among employees[162]. - The company has engaged in social responsibility initiatives, contributing CNY 1,797,500 in donations and sponsorships during the reporting period[164]. - The company has disclosed its ESG report, detailing its environmental, social, and governance practices for the year[162]. Financial Management - The company has established a comprehensive internal control system, ensuring the accuracy and fairness of financial reporting without any significant deficiencies reported during the period[157]. - The internal control audit for the 2024 fiscal year received a standard unqualified opinion from the auditing firm, confirming the effectiveness of the internal control system[158]. - The company has a robust mechanism for profit distribution decision-making, involving independent directors and ensuring communication with minority shareholders[146]. - The company has committed to enhancing asset quality and improving profitability through effective management of raised funds, aiming for early project completion and expected benefits[168].