KEYSINO TECH(SZ:300899)2025-04-28 17:55Financial Performance - In 2024, the company's total operating revenue decreased by 34.52%, with a total profit drop of 128.59% and a net profit attributable to shareholders down by 110.56%[5]. - The net profit excluding non-recurring gains and losses fell by 212.98%, indicating significant financial distress[5]. - The company reported an operating income below 100 million RMB, leading to a risk warning for potential delisting due to the impact of order revenue recognition[5]. - The company's operating revenue for 2024 was ¥81,605,885.57, a decrease of 34.52% compared to ¥124,627,815.87 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥1,646,201.09, representing a decline of 110.56% from ¥15,583,091.37 in 2023[20]. - The net profit after deducting non-recurring gains and losses was -¥11,446,519.73 in 2024, down 212.98% from ¥10,131,265.09 in 2023[20]. - The gross profit margin was 23.47%, down 13.28% year-on-year[51]. - The company experienced a 62.96% decrease in sales volume, with only 10 units sold compared to 27 units in the previous year[57]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥79,992,333.68 in 2024, compared to -¥3,995,523.15 in 2023, marking a 2,102.05% increase[20]. - Total assets at the end of 2024 reached ¥792,142,257.20, an increase of 9.42% from ¥723,960,803.05 at the end of 2023[20]. - The company's total liabilities decreased by 4.02% from the previous year, with net assets attributable to shareholders at ¥634,169,234.91 at the end of 2024[20]. - Operating cash inflow for 2024 reached ¥234,377,853.96, a 66.69% increase compared to ¥140,605,733.45 in 2023[66]. - The company's cash and cash equivalents decreased by 3.55% to ¥147,893,598.90 at the end of 2024, down from ¥160,868,990.72 at the beginning of the year[71]. Research and Development - The company has obtained 47 patent certificates, including 18 invention patents and 29 utility model patents, showcasing its strong R&D capabilities[45]. - Research and development expenses rose by 11.75% to ¥16,165,876.07, attributed to increased salaries for R&D personnel[62]. - The company's R&D investment for 2024 amounted to ¥16,165,876.07, representing 19.81% of operating revenue, a significant increase from 11.61% in 2023[66]. - The total number of R&D personnel increased by 8.33% to 26 in 2024, with a notable rise in the number of employees under 30 years old, increasing from 1 to 7[66]. Market and Industry Outlook - The membrane industry in China is projected to grow at an annual rate of 10% to 12%, with total industry output expected to reach ¥500 billion to ¥600 billion by 2026[30]. - The global industrial wastewater treatment market is experiencing rapid growth due to increasing industrial wastewater discharge and heightened environmental awareness[34]. - The company is focusing on improving the recovery rate of valuable salts from fly ash wastewater, which has high economic value and meets reuse standards[64]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring transparency and protecting shareholder interests[100]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance requirements[101]. - The company has implemented an internal audit system to enhance operational management and risk control[102]. - The company has a complete and independent financial management system, fulfilling its tax obligations as an independent taxpayer[105]. Shareholder and Management Information - The company held its annual shareholder meeting on May 15, 2024, with a participation rate of 50.12%[108]. - The company plans to distribute a cash dividend of RMB 3.60 per 10 shares, totaling RMB 22,962,047.76, based on a total share capital of 63,783,466 shares as of December 31, 2023[133]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 5.9932 million yuan[118]. - The company has a total of 98 employees who received compensation during the reporting period, reflecting a stable employment situation[130]. Risks and Challenges - The company faces risks from intensified market competition and will maintain investment in technology R&D to strengthen its core competitiveness[94]. - The accounts receivable risk is increasing due to a growing number of new clients, and the company will manage client credit ratings to mitigate this risk[96]. - The company is in the pilot stage of developing a zero discharge and resource utilization process for wastewater in the coal-to-olefins industry, which is expected to create significant economic benefits[64]. Future Plans and Strategies - The company plans to continue promoting the construction of its R&D projects while carefully evaluating the situation regarding expected returns[84]. - The company aims to assist industrial enterprises in achieving clean production and green transformation, benefiting both economic and environmental outcomes[38]. - The company aims to expand its international business by participating in overseas industry exhibitions and targeting markets in Southeast Asia, South Asia, Africa, and Europe[93].