DEREN(SZ:002055)2025-04-28 16:35Financial Performance - The company's operating revenue for 2024 was ¥5,177,853,653.17, a decrease of 13.51% compared to ¥5,986,992,992.07 in 2023[6]. - The net profit attributable to shareholders for 2024 was -¥1,224,758,451.96, representing a decline of 503.09% from -¥203,079,337.60 in 2023[6]. - The net cash flow from operating activities for 2024 was -¥331,415,614.24, which is an 85.19% decrease compared to -¥178,956,361.13 in 2023[6]. - The total assets at the end of 2024 were ¥5,184,575,479.48, down 34.07% from ¥7,863,977,821.40 at the end of 2023[6]. - The net assets attributable to shareholders decreased by 48.49% to ¥1,347,117,720.01 at the end of 2024 from ¥2,615,236,659.08 at the end of 2023[6]. - The company reported a basic and diluted earnings per share of -¥2.0261 for 2024, a decline of 503.01% from -¥0.336 in 2023[6]. - The company experienced a significant increase in non-recurring losses, with a total of ¥776,188,185.76 in 2024 compared to ¥28,668,438.47 in 2023[6]. - The company reported a consolidated revenue of 517,785.37 million yuan for 2024, a year-on-year decrease of 13.51%[55]. - The total profit for the company was -171,588.98 million yuan, representing a year-on-year decline of 500.24%[55]. - The net profit attributable to the parent company was -122,475.85 million yuan, down 503.09% year-on-year[55]. Market Outlook - The global connector market is projected to grow from $60.1 billion in 2017 to $86.5 billion in 2024, with a CAGR of 5.34%[32]. - The Chinese connector market is expected to rise from $19.1 billion in 2017 to $28 billion in 2024, with a CAGR of 5.62%[35]. - In 2024, China's automobile production and sales are projected to reach 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[39]. - New energy vehicle (NEV) production and sales in China are expected to maintain high growth, reaching 12.89 million and 12.87 million units in 2024, representing year-on-year increases of 34.4% and 35.5%[39]. - Global NEV sales are forecasted to grow from 3.31 million units in 2020 to 18.24 million units in 2024, with a CAGR of 53.19%[37]. Business Operations - The company has a total of six wholly-owned subsidiaries and two holding subsidiaries, indicating a diversified operational structure[14]. - The company has maintained its main business operations without any changes since its listing[20]. - The company plans to expand its market presence by establishing subsidiaries or branches nationwide to enhance customer relationships[45]. - The company maintains a direct sales model to ensure rapid response to customer needs and to strengthen long-term strategic partnerships[46]. - The company has established stable procurement channels, with most raw materials sourced domestically, ensuring sufficient supply[43]. Research and Development - The company plans to continue investing in R&D to enhance product performance and meet the increasing demands for high-speed data transmission in AI and communication technologies[53]. - The company aims to strengthen its strategic partnerships with major clients, enhancing brand influence and market competitiveness[52]. - Research and development expenses decreased by 22.42% to ¥250,972,185.38, while total R&D investment was ¥408,341,237.70, down 18.95% from the previous year[64][65]. - The number of R&D personnel decreased by 44.20% from 810 in 2023 to 452 in 2024[65]. Internal Control and Governance - The company reported a significant internal control deficiency during the reporting period, which has been effectively rectified as of the report issuance date[4]. - The internal control evaluation report confirmed that the company maintained effective financial reporting internal controls in all significant aspects[149]. - The company has established a complete internal control system, with the board of directors overseeing its implementation and effectiveness[149]. - The company has revised seven fundamental management systems to enhance governance in 2024, ensuring compliance with relevant laws and regulations[108]. - The company has implemented a comprehensive internal control system covering all key business processes, ensuring timely rectification of any identified deficiencies[111]. Corporate Social Responsibility - The company emphasizes corporate social responsibility, balancing the interests of stakeholders including shareholders, employees, and suppliers[111]. - The company is committed to ESG management principles, implementing energy-saving measures and improving employee welfare, while also enhancing internal controls and risk management systems[101]. - The company is committed to environmental protection and sustainable development, achieving ISO 14001 certification and integrating carbon neutrality goals into daily operations[166]. - The company actively engages in public welfare activities and maintains good relationships with local governments and communities, contributing to social harmony[167]. Shareholder Relations - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[5]. - The annual shareholders meeting had a participation rate of 20.26% on May 30, 2024[115]. - The first extraordinary shareholders meeting in 2024 had a participation rate of 20.37 on July 29, 2024[115]. - The second extraordinary shareholders meeting in 2024 had a participation rate of 17.09% on November 14, 2024[115]. Risk Management - The company emphasizes the importance of risk awareness in its future development outlook, urging investors to consider potential investment risks[4]. - The company will implement a comprehensive risk management system covering supply chain, financial, operational, and market risks to ensure stable operations[99]. - The company is addressing market competition risks by focusing on technological innovation and product development to maintain its market position amid evolving consumer demands[103]. - The company is establishing a diversified global supplier network to mitigate supply chain risks associated with raw material price fluctuations and geopolitical tensions[104]. Executive Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 1,237.09 million[130]. - The highest remuneration was received by the Vice Chairman and CEO, totaling CNY 160.25 million[130]. - The company has a structured remuneration system based on the board's approval and assessment criteria for senior management[129]. - The total remuneration for supervisors was CNY 207.18 million, with the chairman of the supervisory board receiving CNY 96 million[130]. Legal and Compliance - The company received a notice of investigation from the China Securities Regulatory Commission on December 25, 2024, regarding suspected violations of information disclosure laws[174]. - The company faced an administrative penalty of RMB 200,000 for exceeding wastewater discharge limits, but it did not have a significant impact on operations[162]. - The company has zero financial report material defects and one non-financial report material defect as of the latest audit[156][155].