BIRD(SH:600130)2025-04-28 12:00Financial Performance - The company's operating revenue for 2024 was CNY 360,609,464.08, a decrease of 13.62% compared to CNY 417,468,142.74 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 5,111,062.87, down 63.37% from CNY 13,953,641.46 in 2023[23]. - The net cash flow from operating activities was negative CNY 2,528,770.98, a decline of 103.27% compared to CNY 77,338,123.42 in 2023[23]. - The total assets at the end of 2024 were CNY 1,198,218,152.93, a slight decrease of 0.25% from CNY 1,201,224,543.28 in 2023[23]. - The net assets attributable to shareholders decreased by 4.98% to CNY 962,346,299.32 at the end of 2024 from CNY 1,012,814,135.13 in 2023[23]. - Basic earnings per share for 2024 were CNY 0.01, a decrease of 50.00% compared to CNY 0.02 in 2023[24]. - The weighted average return on equity for 2024 was 0.52%, down from 1.39% in 2023, a decrease of 0.87 percentage points[24]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, amounting to -13.98 million yuan[38]. - The company reported a net loss in investment activities of RMB 34,127,537.09, an improvement from the previous year's loss of RMB 56,523,617.86[42]. - The total revenue for the period was RMB 244,376,343.27, reflecting a decrease of 23.94% compared to the previous year[44]. - The company reported a net loss of CNY 277,118,685.79, slightly improved from a loss of CNY 282,229,748.66 in the previous year[161]. - The company reported a comprehensive income total of CNY 8,541,946.11 for 2024, down from CNY 22,211,453.96 in 2023, reflecting a decrease of 61.54%[168]. Cash Flow and Investments - The company's cash flow from operating activities showed a net inflow of 2.54 million yuan in Q4, following a significant outflow of 23.72 million yuan in Q1[26]. - The net cash flow from financing activities was -RMB 64,712,912.76, significantly higher than the previous year's -RMB 5,693,939.35, mainly due to increased cash used for share buybacks[42]. - The company reported a net cash outflow from financing activities of 64,712,912.76 RMB in 2024, compared to a smaller outflow of 5,693,939.35 RMB in 2023[175]. - The total cash inflow from investment activities in 2024 was 576,090,059.63 RMB, down 44.8% from 1,043,749,682.48 RMB in 2023[177]. - The net cash flow from investment activities for 2024 was 20,012,515.93 RMB, a significant decline of 87.8% compared to 163,224,110.44 RMB in 2023[177]. - The total cash outflow from financing activities in 2024 was 55,695,555.62 RMB, with no cash inflow recorded[177]. - The company experienced a net cash outflow from financing activities of 64,712,912.76 RMB in 2024, compared to a smaller outflow of 5,693,939.35 RMB in 2023[175]. Research and Development - R&D expenses increased by 32.98% to RMB 23,436,729.84, primarily due to increased outsourcing for technical services[51]. - The company’s total R&D investment accounted for 6.50% of total revenue[53]. - The number of R&D personnel is 77, accounting for 16.78% of the total workforce[54]. - Research and development expenses increased to CNY 23,436,729.84 in 2024, up 33.33% from CNY 17,624,783.42 in 2023[167]. Market and Product Development - The company increased its focus on new product development, particularly in the smartphone and IoT sectors, to counteract declining revenues[31]. - The automotive electronics business maintained stable revenue, with the smart connected instrument panel starting to ship products[32]. - The company transitioned from a self-branded product model to an ODM-focused model, impacting its competitive positioning[31]. - The automotive electronics segment aims to upgrade existing products and attract new customers to boost sales, particularly in smart connected dashboard products[116]. - The smart devices segment is focused on developing new product categories and expanding sales channels, with an emphasis on artificial intelligence public safety products to increase overall revenue[116]. - The company aims to enhance its electronic communication business and expand its automotive electronics and smart devices segments, targeting substantial revenue growth[70]. - The smartphone market is showing signs of recovery after a decline, with domestic brands increasing their global market share[69]. Corporate Governance and Compliance - The company emphasizes the importance of information disclosure and compliance with relevant regulations to protect shareholder interests[76]. - The company has no reported changes in shareholding among its directors and senior management during the reporting period[79]. - The company’s board includes independent directors with diverse backgrounds, enhancing governance and oversight[80]. - The company is focused on maintaining operational independence from its controlling shareholder and has implemented measures to ensure this[77]. - The company has not faced any penalties from securities regulatory agencies in the past three years[84]. - The audit committee held 9 meetings during the reporting period, reviewing the 2023 financial statements and confirming no significant errors or omissions[90]. Shareholder and Capital Management - The total remuneration for the board members and senior management during the reporting period amounted to 598.83 million yuan, with individual remuneration for the general manager at 104.66 million yuan and for the deputy general manager at 93.63 million yuan[79]. - The company plans to repurchase shares through centralized bidding, with details on the purpose, types, and total amount of funds to be used for the buyback yet to be disclosed[77]. - The company plans to repurchase approximately 8 to 16 million shares, accounting for about 1.04% to 2.08% of total share capital, with a maximum repurchase price of 5 RMB per share[140]. - The company has repurchased 18,000,000 shares, reducing total share capital from 768,000,000 to 750,000,000 shares[129]. - The total number of ordinary shareholders increased from 80,207 to 88,343 during the reporting period[131]. Future Outlook and Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year, aiming to enhance its competitive position[183]. - The future outlook remains cautiously optimistic, with a projected revenue growth of approximately 10% for the next fiscal year[183]. - To address the delisting risk, the company plans to significantly increase operating revenue in 2025 by enhancing product development and expanding both domestic and international markets in the electronic communication business segment[116]. - The company intends to actively pursue investment and acquisition opportunities related to its industry chain and national strategic emerging industries[117].