Hifuture Technology(SZ:002168)2025-04-28 19:00Financial Performance - The company's operating revenue for 2024 was ¥197,235,872.29, a decrease of 22.40% compared to ¥254,162,324.50 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥149,521,961.44, representing a significant decline of 7,980.65% from a profit of ¥1,897,330.98 in 2023[21]. - The net cash flow from operating activities for 2024 was -¥118,745,761.37, a decrease of 515.87% compared to ¥28,553,324.99 in 2023[21]. - The total assets at the end of 2024 were ¥791,218,924.57, down 16.18% from ¥943,979,095.29 at the end of 2023[21]. - The net assets attributable to shareholders were -¥54,823,505.99 at the end of 2024, a decline of 412.54% from ¥17,541,043.64 at the end of 2023[21]. - The company reported a basic earnings per share of -¥0.1907 for 2024, compared to ¥0.0024 in 2023, marking an 8,045.83% decrease[21]. - The company reported a significant increase in non-operating income deductions, with the amount deducted in 2024 being ¥19,090,350.38 compared to ¥6,676,739.87 in 2023[22]. - The company experienced a fair value loss on investment properties of -5,758,732.00, contrasting with a gain of 210,170.70 in 2023, reflecting a decline in property valuations[28]. - The company reported a net profit attributable to shareholders of -149.52 million yuan for 2024, with a net profit of -169.31 million yuan after deducting non-recurring gains and losses[177]. - The company's operating revenue for the reporting period was 178.15 million yuan, which is below the threshold of 300 million yuan for delisting risk warning[177]. Business Operations and Strategy - The company has outlined potential risks and countermeasures in its future development outlook section[4]. - The company has expanded its business scope to include energy storage technology services and battery manufacturing as of July 11, 2024[19]. - The company is focusing on expanding its market presence and exploring new strategic initiatives under the new leadership[126]. - The company aims to enhance its product offerings and market competitiveness through technological innovation and smart grid solutions[42][46]. - The company is actively involved in the transition towards a new energy system, aligning with national goals for carbon neutrality and smart grid development[31]. - The company aims to enhance its core competitiveness by increasing R&D efforts in advanced technologies related to new power systems and new energy industries, while also fostering high-quality R&D talent[94]. - The company is pursuing a lawsuit against Mr. Kou Han for a contract dispute, claiming a performance compensation of CNY 446.9895 million due to unmet performance commitments[180]. - The company has initiated a lawsuit against Zhongji Investment for a contract dispute, seeking the return of a deposit of CNY 20 million and overdue interest[180]. Governance and Compliance - The financial report includes a commitment from the board and management to ensure the accuracy and completeness of the financial statements[4]. - The company is committed to maintaining compliance with governance standards and enhancing investor relations to protect shareholder interests[107]. - The company has established a robust governance structure that ensures the protection of shareholders' rights and promotes transparency in decision-making processes[161]. - The company has revised its internal governance documents, including the articles of association and management rules, to strengthen governance and compliance[117]. - The company has established an independent financial accounting department with its own accounting system and financial management policies, allowing for independent financial decision-making[122]. - The company has made significant efforts to respect and protect the rights of stakeholders, including creditors and employees, while balancing various interests[116]. - The company has faced regulatory scrutiny due to short-term trading activities by a former director's family, resulting in a warning from the Shenzhen Securities Regulatory Bureau[132]. - The company has received a warning and a fine of 200,000 yuan from the China Securities Regulatory Commission for false records in its 2019 and 2020 financial reports[184]. Shareholder Engagement - The company held a total of 3 shareholder meetings during the reporting period, ensuring compliance with legal regulations and enhancing participation from minority investors through a combination of on-site and online voting[108]. - The participation rate of investors in the 2024 first extraordinary general meeting was 10.75%[123]. - The participation rate of investors in the 2023 annual general meeting was 11.96%[123]. - The participation rate of investors in the 2024 second extraordinary general meeting was 13.63%[123]. Research and Development - The company is currently working on multiple R&D projects aimed at enhancing product competitiveness and expanding product lines, including various charging pile projects[63]. - The company aims to enhance its technical strength and increase profit margins through the development of new charging pile models[63]. - The number of R&D personnel decreased by 10.29% from 68 in 2023 to 61 in 2024, while the proportion of R&D personnel increased from 15.42% to 15.93%[66]. - R&D investment amount decreased by 43.88% from ¥21,376,600.69 in 2023 to ¥11,996,804.38 in 2024, with the proportion of R&D investment to operating revenue dropping from 8.41% to 6.08%[66]. Legal Matters - The company is involved in a legal dispute, seeking 5.1719 million yuan and overdue interest of 1.23437 million yuan from two defendants[182]. - The total amount that Lin Jiaxi still owes the company for performance compensation is 2.76985 million yuan[182]. - The company has a total of 5.0988 million yuan in outstanding payment obligations from various legal cases[182]. - The company is currently facing 11 cases that have entered execution procedures, with a total amount of 7.85052 million yuan involved[182]. Market Trends and Industry Outlook - The penetration rate of new energy vehicles reached 47.6% in 2024, up 12 percentage points from the previous year, indicating strong market adoption[33]. - The government aims for a "county-wide coverage" of charging stations and "town-wide coverage" of charging piles by 2025, supporting infrastructure development[34]. - The company is positioned to benefit from the national policy push for renewable energy, with significant implications for its solar and wind power business[37]. - The company anticipates significant growth in the power supply and distribution equipment industry, driven by the transition to clean energy and government policies[87]. Employee and Management Changes - The company has undergone significant management changes, with multiple new appointments in key positions, including CFO Fu Rufen and Vice President Wang Yun[126]. - The company has established a specialized committee for salary management and evaluation of senior executives[133]. - The total compensation for directors, supervisors, and senior management in 2024 is 875.89 million CNY, with 465.76 million CNY attributed to economic compensation[137]. - The company has seen a significant increase in management personnel, with Mr. Liu Feng serving as Vice President since February 2024[131]. Environmental and Social Responsibility - The company has committed to environmental protection and energy conservation as part of its sustainable development strategy, emphasizing green and low-carbon development[163]. - The company has made a donation of 5,000 yuan to support the development of sports for the elderly in Chongqing's Bishan District[165]. - The company has actively engaged in social responsibility, focusing on sustainable development alongside economic benefits, ensuring a balance between short-term and long-term interests[161].