WILLING CORP.(002667)2025-04-29 12:50Financial Performance - The company's operating revenue for 2024 was ¥532,671,384.89, a decrease of 53.33% compared to ¥1,141,401,058.59 in 2023[16] - The net profit attributable to shareholders for 2024 was -¥307,926,223.71, representing a decline of 37.95% from -¥223,210,175.92 in 2023[16] - The net cash flow from operating activities was -¥62,475,506.69, a significant drop of 434.73% compared to -¥11,683,462.09 in the previous year[16] - The total assets at the end of 2024 amounted to ¥1,664,046,516.19, down 17.55% from ¥2,018,342,440.32 at the end of 2023[16] - The net assets attributable to shareholders decreased by 45.91% to ¥365,471,618.13 from ¥675,693,838.27 in 2023[16] - The basic earnings per share for 2024 was -¥1.30, a decline of 34.02% from -¥0.97 in 2023[16] - The diluted earnings per share was -¥1.28, down 39.13% from -¥0.92 in the previous year[16] Business Focus and Strategy - The company has shifted its main business focus to lithium ore selection and lithium salt processing and smelting[15] - The lithium resource business is primarily focused on lithium mica and lithium carbonate, which are essential raw materials for the lithium battery industry[28] - The company is optimistic about the future of the new energy industry, supported by national policies promoting the sector[30] - The company is focused on a vertically integrated business model encompassing mining, ore selection, and basic lithium battery raw material production[37] - The company aims to enhance its lithium extraction process by reducing heavy metal content in lithium tailings, ensuring compliance with general solid waste standards[52] Production and Operations - The lithium carbonate production line, with an annual capacity of 10,000 tons, officially commenced production in September 2022 and is currently in normal operation[31] - The company acquired a 70% stake in Linghui Technology in January 2022, expanding its lithium mica mining capacity to 1.2 million tons per year[32] - The company has secured a long-term supply agreement for at least 1.3 million tons of lithium ore annually, ensuring raw material supply stability[33] - The production of lithium concentrate and associated products increased by 1.11% year-on-year, reaching 81.02 million yuan in revenue[40] - The company has reduced its inventory of products by 61.59% compared to the previous year, reflecting cautious production planning amid declining market prices[42] Financial Management and Cash Flow - Operating cash inflow decreased by 4.61% to ¥952,762,111.90 in 2024, while operating cash outflow increased slightly by 0.47% to ¥1,015,237,618.59[57] - The net cash flow from financing activities improved to ¥61,142,046.92 in 2024, a turnaround from -¥288,140,257.10 in 2023, marking a 121.22% increase[58] - The company reported a significant asset impairment loss of ¥201,921,200.00 during the reporting period[58] Research and Development - The company holds a total of 68 patents, including 13 invention patents and 55 utility model patents, emphasizing its commitment to technological innovation[35] - The company is developing a technology to prevent clogging in lithium carbonate production, which is expected to enhance product quality and market competitiveness[50] - The company is actively pursuing research and development initiatives to address environmental challenges and improve production processes[52][53] - The company's R&D personnel increased to 81 in 2024, a rise of 28.57% from 63 in 2023, with R&D personnel now accounting for 18.66% of the total workforce[55] - R&D investment decreased by 43.31% to ¥31,301,396.87 in 2024 from ¥55,210,797.56 in 2023, while the proportion of R&D investment to operating revenue increased to 5.88% from 4.84%[55] Market and Sales - The company reported a significant increase in foreign sales, up 3476.46% year-on-year, amounting to 4.16 million yuan[40] - The total sales amount from the top five customers was 382,328,726.85 RMB, accounting for 71.78% of annual sales[48] - The total procurement amount from the top five suppliers was 267,816,345.63 RMB, making up 58.85% of annual procurement[49] Governance and Compliance - The company is focused on governance and compliance, as evidenced by the approval of various proposals related to board elections and financial reporting[86] - The company has established a comprehensive internal control system, ensuring effective governance with a clear division of responsibilities among the board, management, and committees[125] - The internal audit department operates independently under the audit committee, evaluating the effectiveness of internal controls across all business units and subsidiaries[126] - The company has implemented measures to reduce carbon emissions, including transitioning heavy machinery to electric and innovating in smelting processes to enhance energy efficiency[133] Leadership and Management Changes - The company announced the resignation of Chief Risk Officer Wu Jiangli and Chief Financial Officer Zhang Lisha due to personal reasons, effective February 2, 2024[89] - The board approved the appointment of Sun Mingyang as the new Chief Financial Officer following the resignation of Zhang Lisha[89] - The company is undergoing a leadership transition with multiple board members and executives resigning, including Chairman He Kai and Vice Chairman Yin Xian, effective July 22, 2024[90] - The company has experienced a significant turnover in its executive team, with several key positions being filled through new appointments[91] Shareholder and Equity Information - The company’s total share capital decreased from 242,462,000 to 242,371,000 shares due to the repurchase and cancellation of certain restricted shares[184] - The company’s stock structure includes a total of 6,705,000 restricted shares at the end of the reporting period[186] - The largest shareholder, Shanghai Lingyi New Materials, experienced a significant reduction in shares, indicating potential strategic shifts or market adjustments[190] - The company maintains a diverse shareholder base, with both domestic and foreign investors represented among the top shareholders[191] Environmental and Social Responsibility - The company has established a comprehensive environmental management system, focusing on energy conservation and emission reduction, with significant investments in online monitoring technologies[135] - The company has committed to social responsibility initiatives, including donations to disaster-affected areas and support for underprivileged communities in 2024[137]