BOAMAX(SZ:002514)2025-04-28 13:25Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year increase of 15%[18]. - The company's operating revenue for 2024 was ¥335,935,048.32, a decrease of 42.16% compared to ¥580,777,647.30 in 2023[24]. - The total revenue for 2024 was ¥335,935,048.32, representing a 42.16% decrease compared to ¥580,777,647.30 in 2023[62]. - Revenue from the smart manufacturing segment was ¥253,352,925.05, accounting for 75.42% of total revenue, down 24.77% from ¥336,753,934.65 in 2023[62]. - Revenue from the new energy segment was ¥82,582,123.27, which is a 66.16% decline from ¥244,023,712.65 in 2023, indicating significant challenges in this area[62]. - The sales of photovoltaic cells and components dropped by 84.85% to ¥11,926,234.01 from ¥78,738,342.86 in the previous year[62]. - The company reported a net profit attributable to shareholders for 2024 was -¥767,236,803.73, representing a decline of 297.90% from -¥192,823,350.27 in 2023[24]. - The company's net assets attributable to shareholders decreased by 81.26% to ¥177,697,740.95 at the end of 2024 from ¥948,411,662.31 at the end of 2023[25]. - The company reported a basic and diluted earnings per share of -¥1.0656 for 2024, a decrease of 297.91% from -¥0.2678 in 2023[25]. User and Market Growth - User data indicates an increase in active users by 20% compared to the previous year, reaching 500,000 active users[18]. - The company has set a revenue guidance for 2025, projecting a growth of 10% to 15% over the 2024 figures[18]. - Market expansion plans include entering two new provinces in China by the end of 2025, targeting a 5% market share in those regions[18]. - The company has completed the acquisition of a local competitor for RMB 300 million, expected to enhance market presence and operational capabilities[18]. Research and Development - The company is investing RMB 50 million in R&D for new technologies aimed at enhancing product efficiency[18]. - The company is focusing on technological innovation and product development, particularly in heterojunction solar cells and charging/swapping equipment[56]. - R&D investment decreased by 55.98% to ¥18,518,969.37 in 2024 from ¥42,071,067.18 in 2023, with the R&D investment as a percentage of revenue dropping from 7.24% to 5.51%[75]. - The number of R&D personnel decreased by 49.08% from 163 in 2023 to 83 in 2024, with a significant reduction in the number of employees under 30 years old, which fell by 69.57%[75]. Operational Efficiency and Strategy - The company aims to enhance its smart manufacturing capacity in response to the growing demand for high-end manufacturing products[52]. - The strategic decision-making and execution capabilities of the management team have been strengthened with a new leadership structure, enhancing the company's competitive edge[55]. - The company is committed to building a one-stop clean energy system provider, integrating research, design, investment, construction, and operation[110]. - The company aims to create new core competitiveness by focusing on heterojunction products and technologies, as well as preparing for perovskite/heterojunction tandem strategies[49]. Financial Management and Governance - The company has established independent financial management and accounting systems, ensuring proper financial operations[148]. - The company has a complete performance evaluation system and compensation mechanism for directors and senior management, ensuring transparency in appointments[142]. - The company has a structured remuneration policy based on performance and company earnings, as outlined in its articles of association[166]. - The company received a public reprimand from the Shenzhen Stock Exchange on August 6, 2024, regarding discrepancies in the 2023 annual performance forecast[164]. Risks and Challenges - The company has identified potential risks including market competition and regulatory changes, which are detailed in the risk management section of the report[5]. - Increased competition in the photovoltaic industry requires the company to innovate its business model and enhance its technological capabilities[124]. - The company faces risks from macroeconomic fluctuations, which could impact the photovoltaic sector's raw material procurement and sales price differences[122]. - The company is addressing supply chain risks by establishing a multi-dimensional risk control mechanism to ensure material availability and optimize inventory levels[125]. Leadership and Management Changes - The company announced the resignation of Mr. Jin Shichun from the positions of director and vice chairman due to work adjustments on September 19, 2024[153]. - The company is undergoing changes in its board and supervisory roles, with multiple resignations noted in the recent report[153]. - The company plans to disclose further details regarding the resignations and any potential replacements in future announcements[153]. - The company is focused on strategic adjustments and personnel changes to enhance operational efficiency and governance[154][155]. Employee and Talent Management - The company has implemented a training plan focusing on business skills, process optimization, industry trends, and product innovation[181]. - The company plans to optimize its talent management mechanism, focusing on high-end talent reserve and training precision, with a goal to upgrade the talent pipeline to support business growth by 2025[116]. - The company has a total of 750 employees, with 449 in production, 37 in sales, 83 in technical roles, 25 in finance, and 156 in administration[178][179]. - The company has established a salary management system that adjusts employee compensation based on operational performance and regional living costs[180].