Wencan(SH:603348) Shang Hai Zheng Quan Bao·2025-04-26 05:30Core Viewpoint - The board of directors of Wencan Group Co., Ltd. held its 11th meeting on April 25, 2025, where several key proposals were approved, including the annual report for 2024 and the first quarter report for 2025, along with various operational and financial reports [1][3][6]. Group 1: Financial Performance - The company achieved a revenue of RMB 624,717.31 million in the reporting period, representing a year-on-year growth of 22.46% [64]. - The net profit attributable to shareholders for 2024 was RMB 115.0685 million, showing a significant increase of 128.16% compared to the previous year [64]. - As of the end of the reporting period, total assets reached RMB 867,859.08 million, up 12.19% from the previous period, while net assets attributable to shareholders increased by 31.76% to RMB 424,770.37 million [64]. Group 2: Dividend and Profit Distribution - The board proposed a cash dividend of RMB 0.15 per share (including tax) based on the total share capital as of the dividend record date, with a total net profit of RMB 115.0685 million for 2024 [11][12]. - The proposal for the mid-term dividend plan for 2025 was also submitted for shareholder approval, allowing the board to decide on the specific amount within 40% of the net profit [12]. Group 3: Audit and Compliance - The board approved the reappointment of Ernst & Young Hua Ming as the auditing firm for the 2025 financial year, with audit fees set at RMB 1.67 million for financial reporting and RMB 600,000 for internal control [66][69]. - The company has established a robust management system for the use of raised funds, ensuring compliance with relevant regulations and protecting investor interests [73][75]. Group 4: Fundraising and Investment Projects - The company raised a total of RMB 1,046.9998 million through a private placement, with a net amount of RMB 1,032.3851 million after deducting issuance costs [73]. - The board approved a delay in the "Anhui New Energy Vehicle Parts Intelligent Manufacturing Project," extending the expected operational date from May 2025 to May 2026 due to funding and scheduling issues [95][96]. Group 5: Credit and Guarantee - The company plans to apply for a total credit limit of up to RMB 5 billion and provide guarantees for its subsidiaries, with an expected guarantee amount not exceeding RMB 3 billion [101][103].