Tonhe TECH.(SZ:300491)2025-04-28 12:55Financial Performance - The company's revenue showed steady growth, particularly in the new energy vehicle and smart grid sectors, despite a decline in overall performance compared to the previous year[5]. - The gross profit margin decreased due to intensified industry competition, impacting net profit[5]. - The company's operating revenue for 2024 reached ¥1,209,136,277.56, representing a 19.89% increase compared to ¥1,008,571,647.52 in 2023[22]. - The net profit attributable to shareholders decreased by 76.66% to ¥23,940,677.56 in 2024 from ¥102,571,046.87 in 2023[22]. - The net profit after deducting non-recurring gains and losses was ¥19,044,080.56, down 77.35% from ¥84,092,201.59 in the previous year[22]. - The total assets of the company increased by 7.56% to ¥2,132,392,656.52 at the end of 2024, compared to ¥1,982,533,563.79 at the end of 2023[22]. - The company's basic earnings per share dropped to ¥0.14, a decrease of 76.27% from ¥0.59 in 2023[22]. - The company reported a total of ¥4,896,597.00 in non-recurring gains for 2024, down from ¥18,478,845.28 in 2023[27]. - The net cash flow from operating activities significantly improved to ¥58,390,087.32, a 297.10% increase from ¥14,704,067.60 in 2023[22]. Investment and R&D - The company is increasing investment in R&D and marketing to enhance market competitiveness, leading to higher related expenses compared to the previous year[5]. - Research and development investment for 2024 reached 113.32 million yuan, an increase of 29.63% compared to the previous year[87]. - R&D investment for 2022, 2023, and 2024 was 56.86 million yuan, 87.42 million yuan, and 113.32 million yuan, representing 8.90%, 8.67%, and 9.37% of revenue respectively[80]. - The company holds 247 patents and 69 software copyrights, with 531 R&D personnel making up 32.34% of the total workforce[80]. - The company is actively involved in the research and development of new technologies and products in the new energy vehicle sector[30]. Market Strategy and Growth - The company aims to strengthen its existing advantages and expand market share through enhanced product development and technological innovation[6]. - The company is focusing on new growth areas by building a collaborative ecosystem involving technology, customers, and supply chains[7]. - The company plans to improve marketing service capabilities to better meet customer needs and enhance user experience, thereby increasing profitability[7]. - The company has shown a commitment to market expansion and enhancing its product offerings in the electric power sector[30]. - The company is focused on strategic development in three key areas: new energy vehicles, smart grids, and aerospace, with clear positioning and objectives for each sector[81]. Risks and Challenges - Risks identified include industry policy risks, accounts receivable growth risks, and declining gross margin risks, with corresponding mitigation strategies outlined[7]. - The company faces risks related to industry policy changes that could impact profitability, particularly in the electric vehicle and aerospace sectors[140]. - The company is implementing measures to mitigate the risk of declining gross margins due to increased competition and rising material costs[142]. Operational Efficiency - Cost control measures will be implemented through lean production management and diversified procurement to reduce energy and material consumption per unit[6]. - The company is focused on establishing a lean operation system to improve quality, reduce costs, and enhance efficiency across all business segments[137]. - The company aims to strengthen its accounts receivable management to minimize bad debt risks and improve cash flow[140]. Product Development - The company has launched a range of products including storage charging modules and V2G products, enhancing its competitive edge in the market[38]. - The company has launched a series of high-performance charging modules, including a 20kW charging module and cost-effective 30/40kW modules, enhancing its market competitiveness[58]. - The company’s 40kW Taihang charging module achieves a peak output efficiency of ≥97.2%, significantly improving operators' profitability over the product lifecycle[58]. - The company’s thermal management power supply for new energy heavy trucks includes a complete air conditioning system power solution, enhancing its product offerings in this sector[65]. Corporate Governance - The company has established a comprehensive quality management system, achieving ISO9001:2015 and IATF 16949:2016 certifications[83]. - The board of directors consists of 6 members, including 3 independent directors, complying with legal and regulatory requirements[149]. - The company has implemented a stock incentive plan, completing the first vesting of the 2022 plan and launching the 2024 plan to motivate key personnel[150]. - The company actively communicates with investors and provides timely and accurate information disclosure, enhancing transparency[150]. - The company maintains a clear separation from its controlling shareholder in terms of business, personnel, assets, and financial management, ensuring operational independence[153]. Employee Management - The total number of employees at the end of the reporting period is 1,642, with 1,118 in the parent company and 524 in major subsidiaries[180]. - The company maintains a competitive compensation policy, consisting of basic salary and performance bonuses, aligned with annual business objectives[182]. - The company provides various employee benefits, including social insurance, housing fund contributions, shuttle buses, holiday gifts, annual health check-ups, employee dormitories, and work meals[182]. - The company has conducted 597 internal training sessions and 7 external training sessions to enhance employee skills[183]. Shareholder Engagement - The company emphasizes the importance of selecting financial derivatives that align with its business background and risk profile[122]. - The company has ensured that minority shareholders have had ample opportunity to express their opinions regarding profit distribution[186]. - The company held its first temporary shareholders' meeting on January 3, 2024, with an investor participation rate of 33.87%[155]. - The annual shareholders' meeting took place on May 17, 2024, with a participation rate of 34.95%[155].