Carthane(SH:603037)2025-04-28 14:25Financial Performance - The company reported a basic earnings per share (EPS) of CNY 0.48 for 2024, a decrease of 2.04% compared to CNY 0.49 in 2023[23]. - The diluted EPS for 2024 was also CNY 0.48, reflecting the same decline of 2.04% from the previous year[23]. - The basic EPS after deducting non-recurring gains and losses increased by 16.67% to CNY 0.42 in 2024, up from CNY 0.36 in 2023[23]. - The company achieved operating revenue of RMB 748.48 million in 2024, a year-on-year increase of 1.22%[24]. - The net profit attributable to shareholders decreased by 1.56% to RMB 90.39 million compared to the previous year[24]. - The net profit after deducting non-recurring gains and losses increased by 17.59% to RMB 78.14 million[24]. - The net cash flow from operating activities was RMB 128.73 million, reflecting a 16.10% increase year-on-year[24]. - Revenue from automotive parts reached ¥718.90 million, with a gross margin of 33.47%, a decrease of 1.04 percentage points year-on-year[73]. - The company reported a financial expense of -¥1.78 million, an increase of 45.88% due to higher bank deposit interest[78]. - The company’s investment income showed a loss of -¥12.68 million, primarily due to the impact of last year's disposal of long-term equity investments[78]. Dividend and Capital Management - The company plans to distribute a cash dividend of CNY 0.35 per share (including tax) and to increase capital reserves by 0.4 shares for every share held[6]. - As of December 31, 2024, the company's undistributed profits amounted to CNY 363,233,475.82[6]. - The total cash dividend amount is 67,018,641.90 yuan, which accounts for 74.14% of the net profit attributable to ordinary shareholders[153]. - The company implemented a profit distribution and capital increase plan in June 2024, distributing a cash dividend of 0.5 CNY per share and increasing capital by 0.4 shares per share, resulting in total shares changing from 136,242,749 to 190,739,848[122]. Investment and Growth Initiatives - The company has initiated a plan to issue convertible bonds to unspecified investors, which was approved by the board and shareholders in 2024[9]. - The issuance of convertible bonds is pending approval from the China Securities Regulatory Commission, with no confirmed timeline for this decision[9]. - The company secured new projects valued at approximately RMB 490 million in 2024, contributing to future growth[36]. - The company is actively pursuing lightweight pedal assembly business, rapidly developing partnerships with various automotive manufacturers[64]. - The company plans to increase the revenue contribution from new businesses to 20% within 5 years and 50% within 10 years, focusing on intelligent chassis systems and new materials[106]. Research and Development - The company has made significant progress in new material research and development, effectively controlling product costs amid fluctuating raw material prices[39]. - The company has filed 36 patent applications during the reporting period, bringing the total to 210 applications, with 159 patents granted, including 26 invention patents related to material technology[61]. - The company has a strong technical advantage with a well-rounded R&D team, focusing on material formulation, engineering development, and product design, positioning it at an international leading level[60]. - The company has achieved a significant increase in production automation, enhancing production efficiency and product quality[40]. - The company is focusing on the development of core components for electric vehicles, aligning with the trend of electrification in automotive chassis systems[42]. Market Position and Strategy - The company has established strategic partnerships with major domestic automakers, including BYD, NIO, and SAIC, enhancing its customer resource coverage[45]. - The company is actively expanding its international market presence, supplying products to renowned global automakers such as Porsche, Ford, and Honda[46]. - The company achieved sales of approximately 15.15 million shock absorber components for new energy vehicles, accounting for about 31% of the new energy passenger vehicle market[42]. - The company has expanded its international business, collaborating with renowned global automotive companies such as Porsche, Audi, and Ford[63]. Corporate Governance - The company has established a comprehensive governance structure to ensure independence from its controlling shareholders and maintain operational integrity[114]. - The company has made significant progress in enhancing its corporate governance structure, with the board of directors and supervisory board operating independently[115]. - The company has not faced adverse impacts on its operational autonomy due to relationships with controlling shareholders or their other enterprises[115]. - The company has established an independent financial department with a complete accounting system, ensuring no interference from the controlling shareholder[115]. Environmental and Social Responsibility - The company is committed to environmental sustainability and will continue to invest in green production practices[108]. - The company has implemented effective measures for waste gas, noise, and solid waste management, complying with relevant environmental standards[171]. - The company has conducted regular third-party inspections of noise, organized and unorganized waste gas, and wastewater, ensuring compliance with environmental regulations[171]. - The company has donated a total of 90,000 yuan to educational projects, benefiting 180 individuals[176]. - The company has committed to social responsibility by actively engaging in university internship programs to attract and develop talent[178]. Employee Management and Compensation - The company has implemented a comprehensive training and development plan to enhance employee skills and career development[147]. - The company has established a succession plan for key positions to ensure a continuous talent pool for future development[147]. - The company has adopted a leading compensation strategy for core positions to maintain market competitiveness and internal fairness[146]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 989.93 million[129]. Compliance and Regulatory Matters - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[190]. - The company has not engaged in any related party transactions that would infringe on the rights of other shareholders[188]. - The company received an administrative regulatory measure from the Shanghai Securities Regulatory Bureau on March 18, 2024, due to inaccuracies in responses to investor inquiries[196]. - The company has committed to improving compliance and information disclosure quality to prevent future occurrences of similar issues[196].