Financial Performance - The company reported a decline in operating profit due to decreased market demand in the steel, cement, and waste incineration industries, leading to longer accounts receivable periods and increased funding costs [3]. - The company plans not to distribute profits for the 2024 fiscal year, with no cash dividends or stock bonuses proposed [5]. - The company's operating revenue for 2024 reached ¥629,663,609.06, representing a 20.11% increase compared to ¥524,244,649.94 in 2023 [21]. - The net profit attributable to shareholders was -¥60,855,803.50 in 2024, a decrease of 139.79% from -¥25,378,753.98 in 2023 [22]. - The cash flow from operating activities showed a net amount of ¥17,143,320.23, down 57.34% from ¥40,185,038.84 in 2023 [22]. - The total assets at the end of 2024 were ¥1,264,902,966.05, a decrease of 4.18% from ¥1,320,133,894.48 in 2023 [22]. - The basic earnings per share for 2024 was -¥0.38, a decline of 137.50% compared to -¥0.16 in 2023 [23]. - The weighted average return on net assets for 2024 was -10.47%, a decrease of 6.44 percentage points from -4.03% in 2023 [23]. - The company reported a total revenue of 77,369,904.00 RMB for the period, with a net profit of 51,810,809.77 RMB, indicating a strong financial performance [88]. Market and Competition - Despite the competitive market, the company maintains that its core business and competitive advantages have not significantly changed [3]. - The company is facing increased competition, which may lead to a decline in gross margins and an increase in accounts receivable [3]. - The company is actively exploring overseas markets, seeking growth opportunities through equipment supply and localized development strategies [47]. - The company aims to enhance its core business by seizing opportunities in new coal-fired power units, flexible transformation of thermal power, ultra-low emission upgrades in non-electric industries, and industrial intelligence [66]. - The company is expanding its market presence through new product launches and technological advancements in environmental protection and energy storage sectors [80]. Research and Development - Research and development expenses accounted for 5.88% of operating revenue in 2024, down from 6.81% in 2023 [23]. - The company has developed a structured R&D system focused on independent and collaborative research, enhancing efficiency and quality through key processes like "R&D pre-positioning" and "process embedding" [44]. - The company has ongoing projects with significant investments, including ¥2,600,000 for Co-NOx catalyst filter bag development, which has achieved a dust removal efficiency of ≥99% and a NOx removal efficiency of ≥60% [80]. - The company has achieved a CO oxidation rate exceeding 80% in its catalyst testing, demonstrating advanced domestic capabilities in the steel sintering industry [83]. - The company has invested heavily in R&D, with a budget allocation of 10 million for the development of innovative technologies [146]. Environmental Initiatives - The company is committed to addressing industrial wastewater treatment challenges, particularly in desulfurization wastewater, by advancing zero discharge technologies [66]. - The company is classified as a key pollutant discharge unit and has implemented measures to comply with environmental standards [190]. - The company has established a robust framework for environmental supervision and management to enhance pollution control measures [200]. - The company emphasizes strict adherence to national environmental laws and regulations, ensuring stable and compliant pollutant emissions [200]. - The company has established an emergency response plan for environmental incidents, registered on August 12, 2022, with the local environmental authority [197]. Governance and Management - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, ensuring effective internal controls and operational transparency [139]. - The company has implemented a performance evaluation mechanism for senior management, which is overseen by the compensation and assessment committee [183]. - The company has established various governance rules and committees to ensure effective management and decision-making processes [188]. - The company has not reported any risk findings from the supervisory board during the reporting period [167]. - The company has not experienced any significant adverse impact from the competition posed by major shareholders or actual controllers [141]. Future Outlook - Future guidance indicates a projected revenue increase of 20% for the next fiscal year, driven by new product launches and market expansion strategies [146]. - The company plans to enhance its market share in the environmental protection sector, focusing on air pollution control, with a commitment to reducing emissions of PM2.5, sulfur dioxide, and nitrogen oxides [134]. - The company aims to achieve a market share increase of 10% in the next two years through aggressive marketing and sales strategies [146]. - The company plans to solidify its market share in environmental protection, focusing on deep governance in air pollution control and the implementation of stricter emission standards, leading to a steady decline in major pollutants like PM2.5 and sulfur dioxide [66]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for potential deals [147].
元琛科技(688659) - 2024 Q4 - 年度财报