Lettall Electronic(SH:603629)2025-06-13 09:40Financial Performance - The net profit attributable to shareholders for the fiscal year 2024 is RMB 24.6164 million, with a distributable profit of RMB 359.9159 million as of the reporting period[6]. - The proposed cash dividend is RMB 0.50 per 10 shares (including tax), resulting in a total cash dividend distribution of RMB 12.9315 million, which represents 52.53% of the annual net profit attributable to shareholders[6]. - The company's operating revenue for 2024 reached ¥2,247,559,790.70, an increase of 18.72% compared to ¥1,893,119,459.75 in 2023[24]. - The net profit attributable to shareholders decreased by 38.77% to ¥24,616,404.40 in 2024 from ¥40,202,342.48 in 2023[24]. - The net profit after deducting non-recurring gains and losses fell by 71.10% to ¥5,889,127.08 in 2024 from ¥20,378,142.45 in 2023[25]. - The total assets increased by 63.26% to ¥5,932,482,789.59 at the end of 2024 from ¥3,633,829,687.11 at the end of 2023[24]. - The basic earnings per share decreased by 37.50% to ¥0.10 in 2024 from ¥0.16 in 2023[26]. - The weighted average return on net assets dropped to 1.50% in 2024, down from 2.47% in 2023, a decrease of 0.97 percentage points[26]. - The cash flow from operating activities showed a significant decline, with a net cash flow of ¥74,844,110.23 in 2024 compared to ¥732,405,001.47 in 2023, a decrease of 89.78%[25]. Revenue Breakdown - The AI computing power business generated revenue of CNY 455.20 million, with a net profit of CNY 142.31 million and a gross margin of 53.42%, an increase of 9.39 percentage points year-on-year[37]. - The manufacturing segment reported revenue of CNY 1,792.36 million, a decline of 4.74%, with a net loss of CNY 115.68 million and a gross margin of 8.65%, down 6.26 percentage points year-on-year[38]. - The sales of precision metal structural parts reached CNY 1,527.33 million, a decrease of 3.06%, while electronic components sales were CNY 154.60 million, down 11.55%[41]. - Revenue from AI computing power business (including leasing income) totaled 455.20 million yuan, a significant increase of 3,817% year-on-year[60]. - The overseas revenue grew by 138.01% to CNY 415,732,184.03, with a gross margin of 20.79%[64]. Investments and R&D - The company invested CNY 276.62 million in fixed assets and CNY 1,433.62 million in right-of-use assets during the reporting period[40]. - R&D expenses for the year 2024 amounted to 84.2584 million yuan, representing an 8.77% increase year-on-year, with R&D expenses accounting for 3.75% of operating revenue[43]. - The company initiated R&D projects with an expenditure of CNY 21.43 million, resulting in 12 new software copyrights in 2024[40]. - The company applied for 2 patents and received 11 new patent authorizations during the reporting period[43]. Corporate Governance and Compliance - The company has established a robust governance structure to ensure effective decision-making and risk management, enhancing long-term strategic implementation[108]. - The company strictly adheres to the election procedures for directors as per the Company Law and Articles of Association, ensuring compliance with legal requirements[109]. - The company has established an internal control system in accordance with regulatory requirements, continuously improving the execution of internal control norms[111]. - The company has fulfilled its information disclosure obligations accurately and timely, in line with the Shanghai Stock Exchange listing rules[109]. - The company has a dedicated department for investor relations management, enhancing communication with minority shareholders and ensuring their rights are protected[109]. Social Responsibility - The company has made social responsibility contributions, including 840,000 yuan for employee activities and 310,000 yuan for public welfare donations during the reporting period[44]. - The company invested 1.5581 million yuan in environmental protection during the reporting period[157]. - The company has established an environmental protection mechanism and complies with national and local environmental regulations[160]. - The company has not faced any significant environmental violations or penalties during the reporting period[160]. Future Outlook - The company plans to achieve simultaneous growth in revenue and profit in 2025, focusing on both AI computing power and manufacturing business adjustments[39]. - The company is exploring new market opportunities in sectors such as liquid cooling, renewable energy, high-end medical, and defense to drive revenue and profit growth[100]. - The company anticipates challenges from intensified market competition in the AI computing sector, which may lead to declining profit margins[103]. - The company plans to enhance its AI computing power business by developing innovative cooperation models for cloud leasing services while maintaining a manageable debt ratio[101]. Shareholder Engagement and Dividend Policy - The company has established a cash dividend policy, stating that it will distribute at least 30% of the average distributable profit over the last three years in cash when conditions are met[141]. - The company plans to distribute cash dividends amounting to CNY 12,931,500, which represents 52.53% of the net profit attributable to ordinary shareholders in the consolidated financial statements[147]. - The company actively engages with minority shareholders to gather their opinions and ensure their rights are protected during the dividend distribution process[144]. - The profit distribution policy is subject to regular review and must align with the company's operational conditions and long-term strategic goals[192].