AsAc(SH:601890)2025-04-28 12:30Financial Performance - The company achieved a net profit attributable to shareholders of 281,933,226.85 yuan in 2024, representing a 19.21% increase compared to 236,509,497.59 yuan in 2023[6]. - Total revenue for 2024 was 1,988,656,370.92 yuan, a 2.98% increase from 1,931,114,212.19 yuan in 2023[25]. - Basic earnings per share for 2024 were 0.294 yuan, a 19.03% increase from 0.247 yuan in 2023[26]. - The diluted earnings per share increased to CNY 0.294, representing a 19.03% growth compared to the previous period[27]. - The net profit attributable to shareholders reached CNY 28.19332 million, with a significant increase in user data and market demand[34]. - The company's operating revenue for the first quarter was CNY 449.29 million, with a net profit of CNY 67.98 million[29]. - The net profit after deducting non-recurring gains and losses was CNY 96.05 million in the fourth quarter, reflecting strong operational performance[29]. - The annual sales revenue reached 1.989 billion RMB, an increase of 2.98% compared to the previous year[42]. - The gross profit margin for the marine engineering sector was 39.36%, down 2.23 percentage points year-on-year[45]. Cash Flow and Assets - The net cash flow from operating activities decreased by 34.38% to 162,966,931.00 yuan in 2024 from 248,337,902.17 yuan in 2023[25]. - The company's total assets increased by 7.92% to 5,291,679,403.84 yuan at the end of 2024, up from 4,903,168,151.38 yuan at the end of 2023[25]. - The net cash flow from operating activities showed a recovery, with a net cash inflow of CNY 152.68 million in the third quarter[29]. - The company's cash flow from operating activities decreased by 34.38% to 162.97 million RMB due to reduced cash received from sales[43]. - The company's cash and cash equivalents decreased to CNY 880,275,730.24 in 2024 from CNY 1,009,009,511.73 in 2023, a decline of approximately 12.8%[183]. Market and Industry Outlook - The company is exposed to market risks due to cyclical fluctuations in the shipping and marine engineering industries, which can impact new ship orders and prices[10]. - The total new orders in the shipbuilding industry increased by 58.8% year-on-year, indicating strong market demand[34]. - The marine engineering equipment market is expected to benefit from a continuous increase in capital expenditure, with a projected investment of approximately USD 209.6 billion in 2024[36]. - The global shipbuilding industry is experiencing a dual cycle of old vessel replacement and fleet greening, with over 374 million deadweight tons of vessels aged 20 years or more still in operation[74]. - The company aims to achieve a revenue of 2.188 billion CNY in 2025, with 1.566 billion CNY from ship anchor chains and accessories, and 622 million CNY from offshore engineering mooring chains and accessories[77]. Research and Development - The total research and development expenditure for the period was CNY 113,912,299.66, accounting for 5.73% of total revenue[52]. - The company invested 50 million RMB in research and development for new technologies in the past year[89]. - New product development includes the launch of R4, R5, and R6 grade mooring chains, which are expected to enhance market competitiveness[89]. Corporate Governance and Management - The company has established a comprehensive governance structure, ensuring compliance with legal requirements and protecting shareholder rights[82]. - The company has a risk management strategy in place to mitigate raw material price fluctuations and exchange rate risks through forward foreign exchange contracts[79]. - The company has appointed a dedicated team for investor relations to address inquiries and concerns from investors and media[84]. - The total pre-tax remuneration for directors and senior management during the reporting period amounted to 617.25 million yuan[88]. - The company held two shareholder meetings during the year, adhering to legal procedures and hiring lawyers for oversight[87]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling 95,940,000.00 yuan (including tax) to shareholders[6]. - The total cash dividend proposed for the fiscal year 2024 is RMB 95,940,000.00, which corresponds to a dividend payout ratio of 34.03% of the net profit[111]. - The cumulative cash dividends over the last three fiscal years amount to RMB 244,647,000.00, with a cash dividend ratio of 109.96% based on the average net profit of RMB 222,488,098.48 during the same period[113]. Environmental and Social Responsibility - The company invested 7.6385 million yuan in environmental protection during the reporting period[116]. - Total donations for social responsibility projects amounted to 730,600 yuan, including contributions to elderly care and charity funds[121]. - The company committed 725,600 yuan to poverty alleviation and rural revitalization projects, focusing on elderly care initiatives[121]. - The company has implemented measures to reduce carbon emissions, promoting energy-saving and green practices in production and office environments[120]. Financial Position and Liabilities - Total liabilities increased to CNY 1,654,654,323.05 in 2024 from CNY 1,486,199,078.55 in 2023, representing a growth of approximately 11.3%[185]. - The company's current liability total was CNY 1,462,310,976.81 in 2024, up from CNY 963,261,471.25 in 2023, indicating a significant increase of approximately 52.0%[185]. - The total equity attributable to shareholders rose to CNY 3,335,522,024.41 in 2024, compared to CNY 3,214,271,965.91 in 2023, reflecting an increase of about 3.8%[185]. Employee and Operational Insights - The company has a total of 1,635 employees, with 1,179 in production, 171 in technical roles, and 62 in sales[104][105]. - The company has established a comprehensive employee training program focusing on quality management, safety, and equipment maintenance[107]. - The company has no significant internal control deficiencies reported during the fiscal period[112].