SGC(SH:603269)2025-04-28 11:10Financial Performance - The company's operating revenue for 2024 reached ¥1,598,843,478.71, representing a 15.81% increase compared to ¥1,380,628,820.72 in 2023 [24]. - Net profit attributable to shareholders for 2024 was ¥95,913,059.40, up 13.08% from ¥84,819,641.79 in the previous year [24]. - The basic earnings per share for 2024 increased to ¥0.43, a rise of 13.16% from ¥0.38 in 2023 [25]. - The weighted average return on equity improved to 9.80% in 2024, an increase of 0.78 percentage points from 9.02% in 2023 [25]. - The net cash flow from operating activities for 2024 was ¥182,855,281.21, a decrease of 7.33% compared to ¥197,312,786.51 in 2023 [24]. - Total assets at the end of 2024 amounted to ¥3,413,609,353.83, reflecting a 4.63% increase from ¥3,262,574,076.36 at the end of 2023 [24]. - The net assets attributable to shareholders increased to ¥1,041,612,096.17, a growth of 4.31% from ¥998,620,073.80 in 2023 [24]. - The company achieved operating revenue of 1.599 billion yuan, an increase of 15.81% year-on-year, and a net profit attributable to shareholders of 95.91 million yuan, up 13.08% year-on-year [35]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 92.89 million yuan, reflecting a significant increase of 63.02% year-on-year [35]. Dividend and Capital Structure - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares, totaling approximately 66.16 million CNY, which represents 68.98% of the net profit attributable to shareholders [6]. - The company intends to increase its total share capital from approximately 220.54 million shares to 308.75 million shares through a capital reserve transfer of 4 shares for every 10 shares held [6]. - The cumulative cash dividend over the last three accounting years amounts to 141,548,733.20 CNY, with an average annual net profit of 84,828,340.53 CNY, leading to a cash dividend ratio of 166.86% [141]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties [7]. - The company has not violated any decision-making procedures regarding external guarantees [7]. - The company has established an independent financial accounting system and operates independently in financial decision-making, with no shared bank accounts with controlling shareholders [107]. - The company has implemented internal control measures in accordance with relevant laws and regulations, ensuring effective internal control activities [104]. Research and Development - The company plans to enhance R&D efforts in 2024, focusing on projects such as green low-carbon water-saving cooling towers and smart control liquid cooling systems for energy storage stations [36]. - The company reported a significant increase in R&D expenses, which rose by 24.06% to ¥47,824,567.20, reflecting a commitment to innovation [50]. - The company's R&D investment totaled 47,824,567.20 CNY, representing 2.99% of total revenue [65]. - The company holds a total of 292 patents, with multiple products recognized as high-tech products in various energy-saving and water-saving technologies [47]. Market and Industry Outlook - The industrial cooling tower market is expected to grow rapidly in the next 5-10 years, particularly for nuclear power cooling towers, which require larger water volumes compared to thermal power [39]. - The company is recognized as a manufacturing industry champion demonstration enterprise by the Ministry of Industry and Information Technology [39]. - The overall revenue for the general machinery industry in 2024 is projected to grow by 3.49% year-on-year, with a total revenue of ¥1,073.94 billion [78]. - The macroeconomic environment is projected to improve, with major economic indicators in the general machinery industry expected to grow at around 5% in 2025 [82]. Environmental and Social Responsibility - The company invested 582,900 CNY in environmental protection measures during the reporting period [147]. - The company has implemented a dry filtration and activated carbon adsorption system for air pollution control, with a processing capacity of 60,000 m³/h in the resin preparation and fiberglass molding workshop [154]. - The company produced a total of 4.58 million yuan in donations for public welfare projects during the reporting period [157]. - The company has a mechanical forced ventilation system in place to maintain fresh air in the molding and painting areas [150]. Governance and Management - The company has a complete independent governance structure, including a shareholder meeting, board of directors, and supervisory board, ensuring effective decision-making and oversight [107]. - The management team has undergone changes, with key personnel resignations and appointments, including the resignation of Mr. Pan Weirong as Vice President [112]. - The company has established a performance evaluation system for senior management, linking compensation to company performance and industry standards [143]. - The company is enhancing its governance structure with new appointments in the supervisory board, aiming for better oversight and strategic direction [113]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations and potential changes in downstream demand [99]. - The company is actively managing foreign exchange risks due to potential fluctuations in the RMB exchange rate [101]. - The company has confirmed that its prospectus does not contain false records, misleading statements, or significant omissions, and it bears legal responsibility for the accuracy and completeness of this information [160].