TES(003019)2025-04-28 11:45Financial Performance - The company's operating revenue for 2024 reached ¥2,213,540,781.39, representing a 31.76% increase compared to ¥1,679,993,594.05 in 2023[6]. - Net profit attributable to shareholders was ¥188,082,264.64, an 18.16% increase from ¥159,177,940.99 in the previous year[6]. - The net profit after deducting non-recurring gains and losses decreased by 9.20% to ¥127,245,076.26 from ¥140,133,340.58 in 2023[6]. - Cash flow from operating activities showed a significant decline of 60.71%, totaling ¥147,142,253.24 compared to ¥374,541,904.36 in 2023[6]. - Basic earnings per share increased by 19.35% to ¥1.11 from ¥0.932 in 2023[6]. - Total assets at the end of 2024 were ¥2,479,503,310.07, an 8.84% increase from ¥2,278,200,184.65 in 2023[6]. - The company's net assets attributable to shareholders decreased by 5.85% to ¥1,527,224,315.33 from ¥1,622,196,510.52 in 2023[6]. - The company reported a total of ¥60,837,188.38 in non-recurring gains for 2024, compared to ¥19,044,600.41 in 2023[28]. Dividend Distribution - The company reported a cash dividend of 5 RMB per 10 shares to all shareholders, based on a total share capital of 174,851,419 shares[4]. - The cash dividend distribution accounts for 24.26% of the total distributable profit of 360,344,395.01 yuan[184]. Business Operations - The company has maintained its main business operations without any changes since its listing[20]. - The company’s controlling shareholder changed from TES Technology (Hong Kong) Limited to IPC Management Limited in November 2015, without affecting the actual controller[20]. - The company is focused on the commercial human-machine interaction terminal industry, with increasing demand driven by digital transformation and AI technology[31]. - The company has formed a dual factory layout in China and Thailand, enhancing its manufacturing competitiveness[46]. - The company is focusing on a dual market strategy in North America and China, targeting high-value products like multi-screen and entertainment screens[46]. Market Outlook - The company’s future development outlook includes potential risks that investors should be aware of, as outlined in the report[4]. - The company faces uncertainties in industry development due to geopolitical influences and changes in tariff policies[31]. - The global POS terminal market is forecasted to reach $108.9 billion by 2025 and $165.2 billion by 2030, with a CAGR of 8.68% from 2025 to 2030[34]. - The global ATM market is expected to grow from $24.2 billion in 2024 to $34.6 billion by 2032, with a CAGR of approximately 4.59%[37]. - The global industrial PC market is projected to grow from $5.2 billion in 2023 to $7.6 billion by 2032, with a CAGR of 4.2% from 2024 to 2032[41]. Acquisitions and Investments - The company completed the acquisition of Hongtong Technology, which will be included in the consolidated financial statements starting January 2024[73]. - The company’s investment in ITH Corporation, which is set to be listed on the Taiwan Stock Exchange, is expected to contribute positively to net profit growth[58]. - The company completed the acquisition of 60% equity in Hongtong Technology for ¥180,101,980, enhancing its position in the smart cockpit equipment sector[98]. Research and Development - R&D expenses rose by 41.04% to ¥97,808,059.62, driven by new projects and increased labor costs[78]. - The company is developing a medical display terminal with high-precision touch control and antibacterial features, aiming for mass production[79]. - A new generation of Android industrial touch display integrated machines is under development, targeting the smart transformation needs of the retail and catering industries[80]. - The company is working on a vehicle display screen integration system to reduce costs and improve product competitiveness[80]. Governance and Compliance - The company has a strict governance structure, with the board and supervisory committee operating in accordance with the company's articles of association and relevant regulations[138][142]. - The company ensures strict compliance with legal and regulatory requirements for information disclosure, maintaining transparency and protecting investor rights[145]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[141]. Employee Management - The total number of employees at the end of the reporting period is 1,106, with 674 in the parent company and 432 in major subsidiaries[178]. - The company has established a training program that includes both internal and external training to enhance employee skills and capabilities[180]. - The company maintains a performance-based compensation system linked to company performance and individual work objectives[179]. Stock Options and Incentives - The company has implemented a stock option incentive plan approved by the board on May 14, 2021, to motivate employees[188]. - The company completed the initial grant registration of the 2021 stock option incentive plan, granting a total of 4.6493 million options to 143 individuals at an exercise price of 21.98 CNY per option[6]. - The company adjusted the number of options granted under the 2021 stock option incentive plan from 5.76 million to 6.624 million, and the exercise price was adjusted from 21.98 CNY to 18.72 CNY[9].