Viewshine. Ltd(SZ:002849)2025-04-28 14:20Financial Performance - The company reported a profit distribution plan of 0.4 RMB per 10 shares, based on a total of 220,634,016 shares[4]. - The company's operating revenue for 2024 reached ¥1,297,443,967, representing a 4.32% increase compared to ¥1,243,665,680 in 2023[20]. - The net profit attributable to shareholders for 2024 was ¥33,632,662.70, a decrease of 0.97% from ¥33,961,121.40 in 2023[20]. - The net cash flow from operating activities significantly dropped by 75.53% to ¥49,726,262.80 from ¥203,181,094.00 in the previous year[20]. - The company's total assets increased by 2.75% to ¥2,423,377,148 from ¥2,358,560,420 at the end of 2023[21]. - The weighted average return on net assets decreased to 2.61% in 2024 from 2.70% in 2023, reflecting a decline of 0.09%[20]. - The company reported a significant increase in sales expenses, which rose by 9.51% to ¥192,200,784 from ¥175,507,755 in 2023[20]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥21,852,302.30, down from ¥27,027,776.40 in 2023, indicating a decline[20]. - The company achieved operating revenue of 1,297,444 thousand yuan, a year-on-year increase of 4.32%[68]. - Net profit for the period was 33,632.7 thousand yuan, a decrease of 0.97% year-on-year[68]. - The company reported a total revenue of 1.5 billion, representing a year-over-year growth of 15%[1]. - The company reported a total revenue of 40.48 million, with a net profit of 4.4 million, reflecting a growth of 36.08% compared to the previous period[142]. Market and Industry Outlook - The demand for smart gas meters in China from 2019 to 2023 was 37.88 million, 40.50 million, 43.48 million, 44.97 million, and 53.74 million units, with a CAGR of approximately 5.4%[37]. - The projected demand for smart gas meters from 2022 to 2027 is expected to grow at rates of 15%, 20%, 18%, 18%, 10%, and 8%, resulting in demand volumes of 50 million, 60 million, 70.8 million, 83.55 million, 91.9 million, and 99.25 million units respectively[37]. - The total market size for smart gas meters in 2024-2027 is projected to be 14.2 billion, 16.7 billion, 18.4 billion, and 19.9 billion yuan respectively[37]. - The market for ultrasonic gas meters in China is expected to reach 4.1 billion yuan by 2025, assuming an 8% annual growth rate and a 3% annual increase in penetration rate from a 5% base in 2018[38]. - The penetration rate of ultrasonic gas meters is projected to increase from 5% in 2018 to 26% by 2025[39]. - The demand for smart water meters is expected to grow due to the digital transformation of water systems and the increasing need for water conservation measures[35]. - The Chinese government has emphasized the importance of digital transformation in the metering industry, aiming for a modern advanced measurement system to be established by 2025[30]. - The renovation of urban villages is expected to create significant demand for smart metering devices, as old meters are replaced[33]. - The focus on gas safety management has led to an increased demand for smart gas metering solutions, supported by new regulations and safety standards[34]. Research and Development - The company aims to enhance its core technology competitiveness through innovation and has made significant improvements in accounts receivable management and supplier management systems[43]. - The company has developed a comprehensive product line that integrates IoT communication technologies, enhancing operational efficiency and reducing costs for gas and water service providers[45]. - The company launched a "digital meter" that optimizes hardware efficiency and performance, ensuring comprehensive safety management for indoor gas usage[47]. - The company completed major R&D projects including the WIOT IoT platform 2.0 and 5G-based commercial gas metering, which are expected to enhance product offerings and market competitiveness[80]. - Research and development investment rose to 74,643.5 thousand yuan, an increase of 7.27% compared to the previous year[68]. - The company plans to strengthen industry technology research, including the development of next-generation water meter technology and energy measurement technology[105]. - The company is committed to optimizing its product structure and enhancing its R&D capabilities, with a focus on building a high-quality R&D team and advanced testing facilities[106]. - The company has allocated 100 million yuan for research and development in new technologies over the next year[153]. Corporate Governance - The company has implemented a comprehensive internal control system to ensure effective governance and operational efficiency[125]. - The company respects and maintains the rights of stakeholders, aiming for harmonious development among all parties involved[126]. - The company adheres to information disclosure obligations, ensuring timely and accurate communication with shareholders[127]. - The board of directors has revised key governance documents, including the Articles of Association and the Investor Relations Management System, to comply with regulatory requirements[129]. - The company maintains complete operational independence from its controlling shareholders, with no reliance on related party transactions for revenue or profit[133]. - The company has established a governance structure that separates its operational and management functions from those of its shareholders[136]. - The company has an independent financial department that adheres to accounting standards and operates its financial activities autonomously[137]. - The company has established a structured decision-making process for profit distribution, involving the board of directors and independent directors[180]. - The company actively communicates with shareholders, especially minority shareholders, to gather their opinions before the general meeting[180]. Employee and Talent Management - The total number of employees at the end of the reporting period is 905, with 769 in the parent company and 136 in major subsidiaries[171]. - The professional composition includes 344 sales personnel, 323 technical personnel, and 153 production personnel[172]. - The company has a strict salary policy based on national laws, with a performance-oriented reward system to enhance employee welfare[173]. - Employee training programs are organized regularly to improve overall professional skills and meet career development needs[174]. - The company emphasizes talent development by optimizing its recruitment and training mechanisms to build a strong marketing and technical team[109]. - The company has established connections with universities through the "51 Talent Program" to attract outstanding graduates and strengthen its talent pool[115]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential operational risks and countermeasures[4]. - The company faces industry cyclical risks due to dependence on national economic development and infrastructure construction, and plans to adjust strategies accordingly[111]. - The company acknowledges market competition risks and aims to differentiate its offerings to enhance customer loyalty and satisfaction[112]. - The internal control system has been updated to effectively prevent operational risks and promote sustainable development[185]. Social Responsibility and ESG - The company actively engaged in ESG practices, publishing its 2024 Environmental, Social, and Governance report to showcase sustainable development efforts[191]. - The company employed 14 individuals with disabilities, demonstrating commitment to social responsibility and community support[196]. - The company participated in the "Spring Breeze Action" recruitment event to promote local employment and assist in poverty alleviation efforts[198]. - The company achieved ISO 14001 certification for its environmental management system, reflecting its commitment to environmental protection[195]. - The company has integrated green initiatives into daily operations, focusing on resource efficiency and pollution prevention[195]. Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[143]. - A strategic acquisition is in progress, which is projected to increase the company's annual revenue by 20%[143]. - The company plans to continue investing in new product and technology development to meet the growing market demand for high-precision and high-reliability products[68]. - The company is accelerating the construction of future factories using digital twin, IoT, and AI technologies to improve production efficiency and reduce operational costs[108].