Appo(SH:688007)2025-04-29 15:35Financial Performance - In 2024, the company achieved a revenue of 2.419 billion yuan, with the automotive business generating over 600 million yuan[4]. - The company's operating revenue for 2024 reached CNY 2,418,574,391.82, representing a 9.27% increase compared to CNY 2,213,356,977.95 in 2023[27]. - The net profit attributable to shareholders for 2024 was 27,953,093.89 yuan, with a proposed cash dividend of 0.25 yuan per 10 shares, amounting to 11,420,998.83 yuan, which is 40.86% of the net profit[11]. - The net profit attributable to shareholders decreased by 72.91% to CNY 27,953,093.89 from CNY 103,186,743.57 in the previous year[27]. - The basic earnings per share decreased by 73.91% to CNY 0.06 from CNY 0.23 in the previous year[27]. - The total cash dividend and share repurchase amount for 2024 is 130,853,440.19 yuan, representing 468.12% of the net profit attributable to shareholders[12]. - The cinema business generated nearly 570 million yuan in revenue for 2024, demonstrating steady overall development[44]. - The professional display business achieved revenue of 392 million yuan, with overseas markets contributing approximately 140 million yuan, reflecting a year-on-year growth of 60.47%[45]. Research and Development - The company has invested in R&D to integrate laser technology with AI, expanding into fields like AR glasses and robotics[5]. - The company's R&D expenditure as a percentage of operating revenue was 10.24%, down from 12.69% in 2023, indicating a decrease of 2.45 percentage points[27]. - The company reported a total R&D investment of approximately ¥247.71 million, a decrease of 11.82% compared to the previous year, with R&D expenses accounting for 10.24% of total revenue[74]. - The company has filed 68 new invention patents and obtained 109 patents during the reporting period, bringing the total number of invention patents to 1,189[72]. - The company has increased its R&D personnel to 505, representing 35.09% of the total workforce, up from 30.16% in the previous year[79]. - The company is focusing on the development of core optical components and semiconductor laser light source technology to achieve lower costs and higher efficiency[76]. Product Development and Innovation - The company has developed the world's first AR optical module with a PPI exceeding 10,000, providing prototypes to leading companies in the AR industry[5]. - The company has developed a compact full-color AR optical machine solution with a volume of only 0.8cc, catering to the lightweight requirements of AR glasses[41]. - The company launched the industry's first split-type fiber optic machine, which significantly reduces product size and enhances flexibility for various applications[40]. - The company has launched the next-generation intelligent laser projection system 2.0 for vehicles, enhancing brightness and resolution while integrating AI technology in the upcoming 3.0 version to improve human-vehicle interaction[62]. - The company has introduced the world's first ALL-in-ONE laser headlight, capable of providing precise illumination and color display, significantly reducing power consumption and size compared to traditional headlights[66]. - The company has developed a high-precision automatic fusion system for multi-projector applications, enhancing the immersive experience in outdoor cultural tourism and vehicle-mounted scenarios[71]. Market Expansion and Strategic Direction - The company aims to enhance competitiveness through resource investment in upstream strategic directions and organizational changes[6]. - The company is actively expanding its market presence in emerging industries such as smart cockpits, laser headlights, and robotics, which are expected to drive future growth[55]. - The company plans to increase investment in cutting-edge fields, focusing on breakthroughs in upstream laser technology to drive innovation in downstream applications[39]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of identifying at least three potential candidates by the end of the year[152]. Corporate Governance and Shareholder Engagement - The company held four shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[133]. - The company’s board of directors convened 17 times, successfully completing the election of the third board, which consists of 7 members, including 3 independent directors[134]. - The company emphasizes the importance of transparent information disclosure, ensuring that all shareholders can access accurate and timely information through designated platforms[137]. - The company has established multiple channels for investor relations, including on-site research, dedicated investor hotlines, and online performance briefings[137]. - The company’s board of directors includes independent directors who attended all meetings, ensuring compliance with governance standards[160]. Environmental, Social, and Governance (ESG) Initiatives - The company maintained a Wind ESG A rating and received multiple awards, including the "Top 100 ESG Golden Bull Award" and the "2024 ESG Innovative Practice Case Award" from Xueqiu[194]. - The company’s ALPD® laser light source solution saved approximately 6.82 billion kWh of electricity and reduced CO2 emissions by about 586,800 tons during the reporting period[198]. - The company’s headquarters building achieved Shenzhen Copper-level green building certification, with a runoff control rate of 73.44% and a pollution reduction rate of 58.75%[198]. - The company is committed to improving employee working conditions and actively fulfilling its social responsibilities, balancing the interests of stakeholders[139]. Financial Management and Investment - The company’s net cash flow from operating activities fell by 76.04% to CNY 87,220,645.17, primarily due to increased working capital needs for the growing automotive business[29]. - The company’s financing activities generated a net cash outflow of 295,510,117.47 RMB, a decrease of 29,730,710 RMB year-on-year, attributed to reduced borrowings and share repurchases[96]. - The total amount of restricted assets reached 703,804,285.70 RMB, primarily due to bank deposits and assets involved in pending litigation[112]. - The company reported a total investment in securities of 14,000,000.00 RMB, with a fair value of 10,062,500.00 RMB at the end of the period, resulting in a disposal gain of 9,281,230.90 RMB[119].