GDM(SZ:002636)2025-04-28 15:35Financial Performance - The company's operating revenue for 2024 reached ¥4,048,380,238.36, representing a 13.36% increase compared to ¥3,571,219,216.90 in 2023[17] - The net profit attributable to shareholders was ¥37,058,862.02, a significant recovery from a loss of ¥78,812,758.92 in the previous year, marking a 147.02% improvement[17] - Basic earnings per share improved to ¥0.051 from a loss of ¥0.108 in 2023, reflecting a 147.22% increase[17] - The company achieved operating revenue of 4.048 billion yuan in the reporting period, a year-on-year increase of 13.94%[28] - The net profit attributable to shareholders was 37.06 million yuan, an increase of 115.87 million yuan year-on-year, marking a turnaround from loss to profit[28] - The company reported a significant decrease in net profit due to reduced tax refunds and increased cash payments for goods[47] - The total profit amounted to 292,842,740.97, a significant increase from 45,004,263.15 in the previous period, reflecting strong operational performance[200] - The net profit for the period was 292,842,740.97, up from 45,004,263.15, showcasing a substantial improvement in profitability[200] Cash Flow and Assets - The net cash flow from operating activities was negative at ¥-15,930,964.96, a decline of 105.88% from ¥270,779,032.20 in 2023[17] - The company reported a net cash flow from operating activities of -45.78 million yuan in the first quarter, improving to 55.87 million yuan in the second quarter[21] - Total assets as of the end of 2024 were ¥6,363,644,762.47, up 3.43% from ¥6,152,580,187.34 at the end of 2023[17] - The total financial assets at the end of the period amounted to 245,687,253.52, with a fair value change of 6,586,705.30 during the period[53] - The total actual guarantee balance at the end of the reporting period was CNY 223.799 million, indicating a significant portion of the approved guarantees were utilized[152] Revenue Segments - The main business segment of copper-clad laminates produced 54.89 million sheets, a year-on-year increase of 18.69%, and sold 55.18 million sheets, a year-on-year increase of 21.73%[28] - The revenue from the copper-clad laminate segment reached 3.582 billion yuan, a year-on-year increase of 18.64%, primarily driven by the Ningguo Jin'an factory, which produced 10.45 million sheets, a 60.33% increase year-on-year[28] - The medical health segment generated revenue of 220 million yuan, a decrease of 35.03% year-on-year, mainly due to the transfer of equity in Chengde Tianyuan, which is no longer included in the consolidated financial statements[29] - The printed circuit board (PCB) segment achieved revenue of 168 million yuan, a year-on-year increase of 32.81%, despite facing intense competition in the consumer electronics sector[29] Research and Development - The company holds 74 invention patents and 239 utility model patents, reflecting its strong R&D capabilities[31] - R&D investment increased to ¥168,603,932.55 in 2024, a 4.46% rise compared to ¥161,399,825.77 in 2023[44] - Research and development expenses for 2024 were ¥168,603,932.55, slightly up from ¥161,399,825.77 in 2023, indicating a focus on innovation[196] Corporate Governance - The company maintained compliance with corporate governance regulations, ensuring a structured and independent operation without interference from controlling shareholders[73] - The board of directors and committees are structured according to legal requirements, with active participation in decision-making and training[74] - The company has established a performance evaluation system linking compensation to operational goals, ensuring accountability among directors and senior management[75] - The company operates independently from its controlling shareholder in all aspects, including business, personnel, assets, and finance, ensuring complete operational autonomy[76] Environmental Compliance - The company complies with major environmental protection laws and regulations, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[113] - The company has implemented a comprehensive wastewater treatment system that includes physical and biochemical processes, resulting in compliant discharge[115] - The company has maintained a good operational status for its wastewater treatment facilities, achieving compliant discharge throughout the reporting period[115] Risk Management - The company highlighted potential risks and countermeasures in its future development outlook, emphasizing the importance of risk awareness for investors[4] - The company is actively managing risks related to raw material price fluctuations, which significantly impact production costs[69] - The company has identified bad debt risk as a concern due to fierce market competition and is enhancing accounts receivable management[69] Shareholder Information - The company has a cash dividend policy, distributing a total of 61,880,000 CNY (approximately 8.5 million USD) to shareholders, with a dividend of 0.85 CNY per 10 shares[102][105] - The total distributable profit for the year is 1,928,148,507.85 CNY, with the cash dividend amounting to 100% of the profit distribution[105] - The total number of shareholders at the end of the reporting period was 43,054, with a total of 43,774 ordinary shareholders at the end of the previous month[166] Strategic Initiatives - The company is focusing on optimizing its product structure to meet customer demands for more competitive products in a challenging market environment[25] - The company is focusing on market expansion and product diversification to enhance its competitive edge in the copper-clad laminate market[30] - The company plans to enhance its product structure and increase the promotion of high-grade products in emerging markets to capture new growth opportunities[66]