CSSC-STC(600072)2025-04-29 16:15Financial Performance - The net profit attributable to shareholders for the year 2024 is CNY 146,438,008.67, representing a 30.86% cash dividend payout ratio[5]. - The parent company achieved a net profit of CNY 196,037,775.05, with cumulative undistributed profits amounting to CNY 229,227,553.03[5]. - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares, totaling CNY 45,195,651.84[5]. - The company's operating revenue for 2024 was CNY 8,423,142,301.69, a decrease of 41.85% compared to CNY 14,486,240,647.30 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY 146,438,008.67, down 9.51% from CNY 161,819,588.65 in 2023[21]. - The company reported a basic earnings per share of CNY 0.0972 for 2024, a decrease of 9.50% from CNY 0.1074 in 2023[22]. - The total assets at the end of 2024 were CNY 48,103,895,139.90, a slight increase of 0.05% from CNY 48,080,793,429.73 in 2023[21]. - The net cash flow from operating activities improved significantly to CNY 244,337,972.38 in 2024, compared to a negative cash flow of CNY -1,943,054,851.89 in 2023[21]. - The operating cost decreased to 7.783 billion RMB, down 39.57% compared to the previous year, primarily due to the reduction in operating revenue[69]. Risk Management and Future Outlook - The company has detailed various risks and countermeasures in its report, particularly in the section on future development discussions[8]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company faces risks from the complex global economic environment, which may impact its international strategy and business expansion[120]. - Policy risks could affect the sales and production of mainframe equipment in the wind power industry due to changes in national policies and market pricing reforms[121]. - Increased competition in the wind power industry is anticipated as the national dual carbon goals create unprecedented development opportunities[123]. - The company may encounter challenges in project acquisition due to a downturn in the real estate and construction sectors, leading to slower project implementation[124]. Operational Efficiency and Development - The company aims to enhance product competitiveness by focusing on high reliability, low cost, and ease of maintenance in its R&D efforts[21]. - The company established a cost control framework focusing on target costs, quotation costs, process costs, and accounting costs to enhance operational quality and efficiency[35]. - The company is focused on enhancing operational management of wind farms to improve electricity generation efficiency and reduce costs[114]. - The company plans to optimize investment management and enhance investment efficiency through strategic partnerships and a mature client system[115]. - The company is committed to building an innovative system that integrates innovation, talent, and industry chains to enhance its competitive edge in the wind power sector[117]. Environmental and Social Responsibility - The company has established a mechanism for environmental protection and is classified as a key pollutant discharge unit[173]. - The company achieved a dust collection efficiency of over 95% through technological upgrades in its production processes[176]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[181]. - The company actively promotes energy-saving initiatives and has increased employee awareness of green practices[190]. - The company has engaged in various social responsibility activities, including volunteer services and public welfare projects[195]. - Total investment in poverty alleviation and rural revitalization projects amounted to 1.7318 million yuan, benefiting 4,000 people[197]. Corporate Governance - The company is committed to improving its corporate governance structure and ensuring compliance with relevant laws and regulations[126]. - The board of directors is functioning effectively with established committees to oversee various aspects of corporate governance and management[127]. - The company has maintained independence from its controlling shareholder, ensuring no non-operational fund occupation occurred during the reporting period[130]. - The company emphasizes investor relations management, enhancing communication through hotlines and performance briefings[133]. - The board of directors held multiple meetings throughout 2024, with no resolutions being rejected[145]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence and enhance its product offerings as part of its strategic initiatives[148]. - The company is exploring new markets to enhance its competitive edge and drive revenue growth[137]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of 2024[139]. - A strategic acquisition of a smaller competitor is in progress, which is expected to add 200 million in annual revenue[140]. - The company is exploring partnerships with international firms to boost its technological capabilities and market reach[138]. Research and Development - The total R&D expenditure amounted to ¥467,811,579.98, representing 5.55% of total revenue, with capitalized R&D costs making up 25.54% of the total[83]. - The company is prioritizing research and development to stay ahead in the industry and meet evolving customer needs[137]. - Research and development investments increased by 15%, focusing on innovative technologies in renewable energy[138]. Employee Management and Training - The company has maintained a 100% rate of professional certification among employees, reflecting its commitment to professional qualifications[159]. - The company has conducted over 100 training projects throughout the year, focusing on key areas such as business improvement and ESG system construction[159]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 11.0764 million yuan[142]. Financial Investments and Equity Management - The company has made significant non-equity investments in five clean energy projects, including the 500,000 kW wind power project in Hami and the clean energy base projects in Shuangyashan and Xilin Gol[93]. - The company completed the transfer of 100% equity in China Shipbuilding Huahai Marine Equipment Co., Ltd. and 45% equity in Shanghai Jiangnan Shipbuilding Pipe Industry Co., Ltd.[99][104]. - The company has adhered to internal management regulations for all external investments, ensuring compliance with disclosure procedures[93]. Technological Advancements - The company has successfully integrated wind power with hydrogen production and storage systems, exemplified by the first million-kilowatt wind-storage integrated project in the country[65]. - The company launched new wind turbine models, including 10MW and 6.XMW, which have achieved bulk bidding and contracts since August 2023[34].