SJA(600609) 证券日报·2025-05-06 16:38Core Viewpoint - Jinbei Automotive achieved significant net profit growth in 2024, laying a solid foundation for future financial improvement and potential dividends for shareholders [2][3]. Financial Performance - In 2024, Jinbei Automotive reported operating revenue of 4.366 billion yuan, a year-on-year decrease of 15.05% - The net profit attributable to shareholders was 382 million yuan, a year-on-year increase of 214.06% [2]. - The increase in net profit was primarily due to stable gross margins in the automotive parts business and recovery of debts from bankrupt entities [2]. Business Operations - Production and sales of interior products decreased by 20% year-on-year, while seat products saw declines of 29.70% in production and 29.85% in sales [2]. - The decline in sales was attributed to changes in customer product structure and sales volume [2]. Future Plans - For 2025, the company plans to focus on stable operations, enhance management, and solidify its BMW business [3]. - The growth strategy will emphasize new projects and partnerships to enhance value [3]. - The company aims to implement structural reforms to improve operational efficiency and responsiveness [3]. Shareholder Returns - Jinbei Automotive has never issued cash dividends since its listing in 1992, with retained earnings of -1.881 billion yuan as of the end of 2024 [3]. - In December 2024, the company initiated a share buyback plan, with 6.642 million shares repurchased by February 5, 2025, totaling 50.4451 million yuan [3][4].