XINXING PIPES(000778) Shen Zhen Shang Bao·2025-04-11 02:00Group 1 - The company reported a revenue of 36.194 billion yuan for 2024, a year-on-year decrease of 16.32% [1] - The net profit attributable to shareholders was 167 million yuan, down 87.60% year-on-year [1] - The company proposed a cash dividend of 0.2 yuan per 10 shares, totaling 79.26 million yuan [2] Group 2 - The company's net profit after deducting non-recurring gains and losses was -151 million yuan, marking a significant decline of 118.12% and the first loss in its main business since 2016 [1][2] - The steel industry faced a "demand contraction and price pressure" situation, with steel prices dropping more than the decline in raw material costs [1] - The core product, centrifugal ductile iron pipes, experienced low order prices due to delays in funding for infrastructure projects [1] Group 3 - The company attempted to optimize its product structure, with the revenue share of cast pipes and castings rising to 30.4%, but this transformation did not offset the overall demand decline [2] - R&D expenses were reduced by 3.25%, contrasting with the trend of leading companies increasing investment in new materials [2] - The company acknowledged increasing external challenges during the transition period of new and old kinetic energy conversion [2] Group 4 - The steel industry has shifted from "incremental development" to "reduction optimization," facing structural contradictions and the need for transformation [2] - The ductile iron pipe industry is experiencing severe overcapacity, chaotic competition, and increased export pressure [2] - The company is recognized for its leading production scale and technology in centrifugal ductile iron pipes and steel grating [3]