Secote co.ltd(SH:603283)2025-04-29 10:25Financial Performance - The company achieved a net profit attributable to shareholders of RMB 554,278,829.35 for the year 2024, with undistributed profits amounting to RMB 1,269,987,918.48 as of December 31, 2024[6]. - In 2024, the company's operating revenue was CNY 4,052,620,097.60, a decrease of 8.85% compared to 2023[23]. - The net profit attributable to shareholders was CNY 554,278,829.35, down 19.30% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 521,948,783.27, a decrease of 21.90% compared to the previous year[23]. - The company's gross margin reached 42.77% in 2024[33]. - The company achieved a weighted average return on equity of 21.71%, down 13.57 percentage points from 2023[24]. - The net cash flow from operating activities was negative CNY 428,375,187.74, a decline of 131.17% compared to 2023[23]. - The company's revenue for 2024 was 405,262.01 million yuan, a decrease of 8.85% year-on-year[44]. - The net profit attributable to the parent company was 55,427.88 million yuan, down 19.30% year-on-year[44]. Dividend and Profit Distribution - A cash dividend of RMB 5.60 per 10 shares (including tax) is proposed, totaling RMB 110,150,845.28 (including tax) based on a total share capital of 199,911,648 shares as of March 31, 2025[6]. - The total amount of cash dividends and share repurchase for the year is RMB 167,532,219.64, representing 30.23% of the net profit attributable to shareholders[6]. - The company will submit the proposed profit distribution and capital reserve transfer plan for approval at the 2024 annual general meeting[7]. - The total cash dividend amount for the last accounting year was ¥167,532,219.64, which represents 30.23% of the net profit attributable to shareholders[115]. - Over the last three accounting years, the cumulative cash dividend amount was ¥211,240,208.72, with an average cash dividend ratio of 40.94%[116]. Share Capital and Repurchase - The company plans to increase its share capital by 4 shares for every 10 shares held, resulting in a total share capital of 278,590,823 shares after the proposed capital reserve transfer[7]. - The company plans to repurchase between 3,301,419 and 6,602,839 shares, accounting for 1.73% to 3.46% of the total share capital[186]. - The total amount for the repurchase is set to be no less than RMB 200 million and no more than RMB 400 million[186]. - As of the report date, the company has repurchased a total of 6,163,410 shares, which is 2.57% of the total share capital of 200,316,148 shares[186]. - The total funds spent on share repurchases in 2023 amounted to RMB 236,620,435.60, excluding transaction fees[186]. Research and Development - The R&D expenses amounted to 408,099,359.81 yuan, accounting for 10.07% of the total revenue[48]. - Research and development expenses increased by 5.07% to CNY 408.10 million, reflecting ongoing investment in innovation[53]. - The company aims to enhance R&D investment and technology innovation to improve core competitiveness and expand product applications in the consumer electronics and semiconductor sectors[75]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency[91]. Market and Product Development - The company expanded its product offerings in the consumer electronics sector and actively developed new semiconductor equipment[33]. - The semiconductor segment achieved revenue of 28.761 billion yuan in the first half of 2024, representing a year-on-year increase of 38.45%, with net profit rising by 11.95%[41]. - The company is focused on market expansion and technological innovation to enhance its competitive edge[33]. - The company is actively involved in the development of smart manufacturing equipment, covering assembly and testing processes for various consumer electronics[34]. - The company is focusing on expanding its domestic and international markets, particularly in the semiconductor equipment sector, to enhance its competitive advantage[78]. Governance and Compliance - The company is committed to ensuring the authenticity, accuracy, and completeness of its annual report, with all board members present at the meeting[3]. - The audit report issued by Zhonghua Accounting Firm confirms a standard unqualified opinion for the financial statements[5]. - The company adheres to strict governance practices, ensuring transparency and compliance with legal regulations to protect shareholder interests[83]. - The company’s board of directors and supervisory board have been confirmed to comply with legal and regulatory requirements during the meetings[88]. - The company has maintained compliance with regulatory requirements, as indicated by the absence of penalties from securities regulatory agencies[96]. Risks and Challenges - The company has outlined potential risks in its future development discussions, which investors should be aware of[10]. - The company faces risks related to fluctuations in gross profit margins due to the customized nature of its products and potential changes in material costs[79]. - The company has reported a significant increase in accounts receivable compared to the previous year, which could impact cash flow if major clients delay payments[79]. Employee and Management - The company has a total of 7,029 employees, with 4,810 in the parent company and 2,219 in major subsidiaries[106]. - The total hours of outsourced labor amounted to 200,547, with total payments of 5.52 million yuan[110]. - The company conducted various training programs to enhance employee skills and overall competitiveness[109]. - The compensation policy aims to align employee performance with company growth, promoting fairness and sustainability[108]. Environmental and Social Responsibility - The company invested 74.56 million yuan in environmental protection during the reporting period[126]. - The total power generation from the company's photovoltaic power station reached 4.3158 million kWh, resulting in a reduction of approximately 4,315 tons of carbon dioxide emissions[127]. - The company has not disclosed any social responsibility or sustainability reports during the reporting period[128]. Shareholder Commitments - The actual controller has committed to avoid any direct or indirect competition with the main business of the company and its subsidiaries before and after the completion of the transaction[131]. - The actual controller has promised to minimize related party transactions and ensure fairness and transparency in any unavoidable transactions[132]. - The shareholders guarantee that there are no existing or potential competing businesses controlled by them prior to the transaction completion[143]. - The shareholders will ensure that any business opportunities that may lead to competition will be reported to the company immediately[143].