YSDZ(002289)2025-04-29 15:13Financial Performance - The company's operating revenue for 2024 was CNY 220,282,435.51, representing a 41.94% increase compared to CNY 155,191,711.77 in 2023[18]. - The net profit attributable to shareholders for 2024 was a loss of CNY 17,574,844.83, a significant decline of 1,922.33% from a profit of CNY 964,417.28 in 2023[18]. - The net cash flow from operating activities for 2024 was a negative CNY 40,119,848.34, a decrease of 446.38% compared to a negative CNY 7,342,902.39 in 2023[18]. - Total assets at the end of 2024 amounted to CNY 448,660,508.89, reflecting a 41.88% increase from CNY 316,229,381.75 at the end of 2023[18]. - The company's basic earnings per share for 2024 was -CNY 0.0627, a decline of 1,944.12% from CNY 0.0034 in 2023[18]. - The weighted average return on equity for 2024 was -7.35%, down from 0.39% in 2023[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -CNY 21,429,116.70 for 2024, a 15.97% increase in losses compared to -CNY 18,478,016.30 in 2023[18]. - The total equity attributable to shareholders decreased by 6.97% to CNY 230,655,969.44 at the end of 2024 from CNY 247,924,973.80 at the end of 2023[18]. Revenue and Market Insights - The global gas detection equipment market is projected to reach USD 4.82 billion in 2024, with expectations to grow to USD 7.29 billion by 2032, driven by increasing demand in industrial production and environmental protection[32]. - The global automotive display panel shipment is expected to reach 230 million units in 2024, representing a year-on-year growth of 8.5%[31]. - The AMOLED display panel market is projected to grow by 26% in 2024, with total shipments reaching 784 million units, surpassing TFT-LCD for the first time with a market share of 51%[30]. Acquisitions and Strategic Developments - The company acquired a 75% stake in Fubang Industrial, which specializes in gas detection instruments and electrical distribution cabinets, enhancing its product offerings in emergency equipment and electrical solutions[35]. - The company acquired 75% of Fubang Industrial, which specializes in gas detection instruments and emergency equipment, and this data is now included in the consolidated financial statements[48]. - The company acquired 75% equity of Shanghai Fubang Industrial Co., Ltd. for a transaction price of 74.25 million yuan, making it a subsidiary[183]. Research and Development - Research and development expenses increased by 184.07% to ¥9,774,903.42, primarily due to an expanded consolidation scope[58]. - The company is developing a portable mass spectrometer for detecting chemical warfare agents and hazardous gases, which is expected to enhance market opportunities in emergency response and security[60]. - The company has developed a multifunctional high-efficiency hemostatic sponge based on "co-crystal and ionic liquid salt technology" for wound healing, which is a global first[61]. Governance and Compliance - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management, continuously improving the standards[104]. - The company has a strict remuneration decision-making process for directors and senior management, adhering to its established rules and regulations[131]. - The company has faced regulatory scrutiny but has taken steps to rectify issues, demonstrating a commitment to compliance and governance[130]. Future Strategies and Market Expansion - The company plans to continue its market expansion and product development strategies, focusing on enhancing its competitive position in the industry[76]. - By 2025, the company plans to expand into emerging application markets such as smart transportation, smart healthcare, and smart factories, while also reducing reliance on the domestic market through international cooperation[94]. - The company aims to explore new sales channels and customers, leveraging synergies from the acquisition of Fubang Industrial to expand its customer base and business scale[186]. Financial Commitments and Performance Targets - The net profit targets for Fubang Industrial for the years 2024, 2025, and 2026 are set at no less than 8 million, 10 million, and 12 million respectively, with a cumulative net profit of no less than 30 million over the three years[177]. - If the actual net profit falls below the promised net profit at any year-end during the commitment period, compensation will be calculated based on a specific formula[178]. - The commitment period for performance promises is from 2024 to 2026, with specific compensation mechanisms in place for any shortfalls[178]. Operational Challenges - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by negative net profits over the last three accounting years[19]. - The company reported a negative net profit for the fiscal year 2024, with a net profit excluding non-recurring losses also negative, and operating revenue below 300 million yuan, triggering a delisting risk warning from the Shenzhen Stock Exchange[193]. - The company has not undergone any bankruptcy reorganization during the reporting period[194].