GS(SH:601500) Zheng Quan Zhi Xing·2025-05-13 08:15Core Viewpoint - Jiangsu General Technology Co., Ltd. is focused on maintaining shareholder rights and ensuring the efficiency of the annual general meeting, while also reporting strong financial performance and strategic initiatives for growth in the tire industry [1][2][3]. Company Operations - The company reported a revenue of 6.958 billion yuan in 2024, an increase of 37.39% year-on-year, and a net profit of 374 million yuan, up 72.81% from the previous year [3][24]. - The company is advancing its "5X strategic plan" and has achieved full production capacity at its Cambodia base, becoming the first domestic tire company to reach this milestone with overseas dual bases [3][4]. - The company is enhancing its global presence by actively developing new overseas projects, including expansions in Thailand and Cambodia, and focusing on local talent recruitment and supply chain development [4][7]. Product Development - The company has made significant advancements in technology, including the application of multi-wall carbon nanotube technology, which has improved the tear strength and wear resistance of tires by over 20% [5]. - New product innovations include the launch of high-end tires for electric vehicles, which have shown a 30% improvement in wear resistance [5][6]. - The company has received numerous accolades for its products, including recognition as one of the "Top 10 Influential Brands in China's Tire Industry" [8]. Financial Performance - The total assets of the company reached approximately 15.38 billion yuan by the end of 2024, a 36.31% increase from the previous year, while total liabilities increased by 64.31% to approximately 9.41 billion yuan [24]. - The company’s cash flow from operating activities was reported at approximately 514 million yuan, a decrease of 42.39% compared to the previous year [24]. Strategic Outlook - The company aims to achieve a production capacity of over 50 million tires by 2030, with plans to establish five major production bases and five research centers globally [12][13]. - The company is committed to sustainable development and aims to enhance its brand value through innovative marketing strategies and improved product offerings [14][15]. Risk Management - The company is aware of the challenges posed by global manufacturing overcapacity and trade protection policies affecting tire exports, and it is actively working to enhance its competitive edge through innovation and brand development [17][18].