Ding Sheng New Material(SH:603876)2025-04-28 09:45Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.06 per share, totaling approximately RMB 55.86 million (including tax) based on a total share capital of 930,957,413 shares[6]. - The total cash dividend for the fiscal year 2024, including the previously distributed RMB 35.56 million (including tax), amounts to RMB 91.42 million (including tax)[6]. - The company plans to distribute a cash dividend of RMB 0.19 per share (including tax), totaling approximately RMB 169.09 million, which represents 31.61% of the net profit attributable to shareholders in the consolidated financial statements[121]. - The company plans to distribute a cash dividend of RMB 0.04 per share (including tax) for the first half of 2024, totaling approximately RMB 35.61 million, which represents 19.39% of the net profit attributable to shareholders[122]. - The cumulative cash dividend over the last three fiscal years amounts to RMB 682.43 million, with an average annual net profit of RMB 739.16 million, resulting in a cash dividend ratio of 92.33%[129]. - The company has already distributed a cash dividend of RMB 0.40 per 10 shares for the first half of 2024, totaling RMB 35.56 million[127]. - The company has maintained a consistent communication channel with minority shareholders, ensuring their rights and interests are protected during the profit distribution process[123]. - The company has a robust cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring clarity and completeness in decision-making processes[124]. Financial Performance - The company achieved operating revenue of approximately 24.02 billion yuan in 2024, representing a year-on-year increase of 26.01%[25]. - The net profit attributable to shareholders decreased to approximately 301.09 million yuan, down 43.70% compared to the previous year[25]. - The net cash flow from operating activities was approximately 73.43 million yuan, a significant decline of 93.52% year-on-year[25]. - The total assets of the company increased to approximately 239.06 billion yuan, reflecting an 18.12% growth compared to the previous year[36]. - The company's basic earnings per share decreased to 0.34 yuan, down 44.26% from the previous year[26]. - The weighted average return on equity dropped to 4.56%, a decrease of 3.79 percentage points compared to the previous year[26]. - The company reported a significant increase in operating costs by 28.90% year-on-year, amounting to approximately 21.886 billion RMB[54]. - The company achieved a main business revenue of 22.96 billion RMB, representing a year-on-year growth of 29.96%[55]. Risk Management - The company emphasizes that forward-looking statements in the report do not constitute substantial commitments to investors, highlighting investment risks[7]. - The company has detailed potential risks in the management discussion and analysis section of the report[10]. - The company faces risks related to aluminum price fluctuations, as its pricing model is based on aluminum ingot prices, which can impact short-term profit levels[84]. - The company is exposed to exchange rate fluctuations, primarily due to its export transactions being settled in USD, which may lead to foreign exchange gains or losses[85]. - The company benefits from tax incentives as a high-tech enterprise, but potential changes in tax policies could adversely affect its tax burden and overall performance[84]. Corporate Governance - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has not faced any issues with more than half of the board members being unable to ensure the authenticity, accuracy, and completeness of the annual report[10]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company has established a comprehensive internal control management system, ensuring effective financial reporting internal controls without significant deficiencies[91]. - The board of directors and its committees have been elected following legal procedures, ensuring compliance with regulations and effective decision-making[88]. - The company held three shareholder meetings during the reporting period, all conducted in accordance with legal requirements, ensuring valid resolutions[95]. - The independent directors have fulfilled their responsibilities and attended meetings punctually, contributing to the governance of the company[88]. Market Expansion and Strategy - The company is actively expanding its market presence, particularly in the new energy sector, while accelerating the production of overseas bases[36]. - The company has established overseas production bases in Thailand and Europe, enhancing its global layout and supply chain integration, which is expected to increase its market share in international markets[37]. - The company aims to enhance its global competitiveness by actively responding to international trade policy changes and increasing R&D investment in response to the booming demand for electric vehicle components[45]. - The company is pursuing a global development strategy, leveraging overseas factories in Thailand, Italy, and Germany to penetrate local markets and enhance competitiveness[83]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $300 million earmarked for potential deals[100]. Research and Development - The company has a strong R&D capability, with 278 valid patents, including 105 invention patents, indicating a focus on innovation[51]. - The company’s R&D expenses increased by 11.21% year-on-year, totaling approximately 1.068 billion RMB[54]. - The total R&D expenditure for the period amounted to ¥1,068,472,422.68, representing 4.45% of the operating revenue[66]. - The company has established multiple provincial and municipal R&D platforms, including Jiangsu Provincial Enterprise Technology Center and Jiangsu Provincial Engineering Technology Research Center, to enhance its technological innovation capabilities[81]. Environmental Responsibility - The company invested approximately 114.49 million yuan in environmental protection during the reporting period[137]. - The company has implemented effective pollution prevention measures, ensuring compliance with emission standards[146]. - The company has achieved zero discharge of production and domestic wastewater through stable operation of its wastewater treatment systems[147]. - The company has classified and stored hazardous waste, including waste mineral oil and oil-containing diatomaceous earth, in compliance with environmental regulations[147]. - The company has signed power purchase agreements with renewable energy suppliers to procure green electricity[155]. Shareholder Relations - The company has strengthened investor relations management, conducting multiple performance briefings in 2024 to enhance transparency and investor understanding of its strategic direction and financial status[37]. - The company has maintained good communication with investors through various channels, enhancing investor confidence in the company[89]. - The company has developed a corporate culture that respects and serves investors, contributing to sustainable and stable growth[89]. Internal Control and Compliance - The company has established a robust internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission[133]. - The internal control audit report for 2024 received a standard unqualified opinion from Tianjian Accounting Firm[135]. - The company has no significant deficiencies in internal control over its subsidiaries during the reporting period[134]. - The company has not faced any penalties from securities regulatory agencies in the past three years[104]. Operational Efficiency - The company is focusing on lean management and cost reduction across various dimensions, including production and logistics[36]. - The company reported a 10% reduction in operational costs due to efficiency improvements[102]. - The company aims to improve its operational efficiency through strategic initiatives[99].