XILI TECHNOLOGY(SH:688616)2025-04-27 08:30Financial Performance - The company reported a total distributable profit of RMB 331,128,994.37 as of the end of 2024, with a proposed cash dividend of RMB 3.00 per 10 shares, amounting to a total distribution of RMB 52,880,876.40, which represents 50.98% of the net profit attributable to shareholders for the year [7]. - The company's operating revenue for 2024 reached ¥587,098,966.80, representing a year-on-year increase of 3.88% compared to ¥565,181,951.87 in 2023 [25]. - Net profit attributable to shareholders for 2024 was ¥103,728,045.88, a significant increase of 39.31% from ¥74,456,846.40 in 2023 [25]. - Basic earnings per share for 2024 increased by 40.48% to ¥0.59, compared to ¥0.42 in 2023 [27]. - The company's net cash flow from operating activities decreased by 27.04% to ¥99,476,794.73 in 2024, down from ¥136,336,649.93 in 2023 [26]. - Total assets at the end of 2024 were ¥1,006,809,966.10, showing a slight decrease of 0.08% from ¥1,007,643,716.38 in 2023 [26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 was ¥94,159,742.56, reflecting a year-on-year growth of 40.76% [25]. - The gross margin improved as operating costs decreased by 2.53% to 401,359,586.73 RMB, indicating better cost management [84]. Research and Development - The company's R&D expenditure as a percentage of operating revenue was 5.73% in 2024, down from 6.08% in 2023, indicating a reduction of 0.35 percentage points [27]. - The total R&D expenditure for the year was approximately ¥33.63 million, a decrease of 2.20% compared to the previous year [65]. - The company has established a multi-departmental R&D system, emphasizing high investment in new product and technology development, with a focus on continuous improvement [45]. - The company has developed a modular software system for data access, enhancing the portability and functionality of its data storage solutions [58]. - The company has achieved significant advancements in its core technologies, which are crucial for the development of smart energy solutions and the overall energy internet [58]. - The company has completed the development of several new products, including the "South Grid Next-Generation Smart Electric Meter Series" and "State Grid B-Class Three-Phase Smart IoT Electric Meter Series" during the reporting period [61]. - The company has increased its R&D personnel to 119, representing 30.51% of the total workforce, up from 21.91% in the previous period [71]. - The company has established deep cooperation with universities for technology research, achieving breakthroughs in key technologies for smart energy meters [199]. Market and Competitive Position - The company maintained a strong focus on the smart grid sector, contributing to steady growth in main business revenue [27]. - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge [27]. - The company has a comprehensive product series in energy metering, showcasing advanced technology and strong market competitiveness [44]. - The company has established a strong position in the energy metering industry, mastering core technologies in smart meters and data collection terminals, achieving the highest A-class rating in supplier performance evaluations since 2019 [54]. - The company is actively involved in the energy internet construction, contributing to online monitoring of energy consumption and supporting carbon neutrality goals through digital services [57]. - The company is focusing on the development of the next-generation smart energy meter based on the R46 standard to support market trading and digital services [123]. - The company recognizes the growing demand for smart grid solutions in Belt and Road Initiative countries, which are expected to drive stable growth in product demand [124]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees [11]. - The company held four shareholder meetings during the reporting period, with all resolutions passed, ensuring compliance with legal and regulatory requirements [137]. - The company has no penalties from securities regulatory agencies in the last three years [149]. - The company has established a comprehensive internal control system that effectively safeguards asset security and ensures the accuracy of financial reporting [181]. Sustainability and Social Responsibility - The company is committed to sustainable development and has implemented various ESG initiatives, including the establishment of a joint research center for carbon and electricity coordination [184]. - The company has received provincial-level recognition for its smart factory in January 2024, emphasizing its commitment to green and low-carbon development [184]. - The company reduced carbon emissions by 4,294.75 tons through the installation of photovoltaic facilities generating 2,307.67 MWh and purchasing 2,000 MWh of green electricity [196]. - The company actively participates in public welfare activities, including a charity fund for cancer patients [186]. Employee Development and Compensation - The company has organized 60 training sessions during the reporting period, enhancing employees' professional skills and overall quality [160]. - The total compensation for all directors and senior management increased from 8,268,000 to 9,921,600 shares, a total increase of 1,653,600 shares [139]. - The company has maintained a competitive and fair compensation policy, focusing on performance and value contribution [162]. - The company has established an "Employee Growth Fund" to support employee skills enhancement and career development [185].