Jia Yuan Technology(SH:688388) Zheng Quan Zhi Xing·2025-08-25 16:23Core Viewpoint - The report outlines Guangdong Jiayuan Technology Co., Ltd.'s commitment to enhancing operational quality and investor returns through a comprehensive action plan for 2024 and 2025, emphasizing the importance of innovation and governance in achieving high-quality development [1][17]. Group 1: Operational Performance - The company achieved a copper foil production of approximately 41,400 tons, a year-on-year increase of 72.46%, and sales of 40,700 tons, up 63.01% [2]. - Revenue reached 3,962.92 million yuan, reflecting a growth of 63.55%, while net profit attributable to shareholders was 36.75 million yuan, marking a turnaround from losses [2]. - The company’s total assets increased by 5.06% to 13,705.19 million yuan, and net assets grew by 1.07% to 6,976.16 million yuan [2]. Group 2: Production and Market Strategy - The company focused on its core copper foil business, enhancing production quality and efficiency while increasing capacity utilization and reducing production costs [3][4]. - The annual production capacity for copper foil exceeded 130,000 tons, positioning the company among the top domestic producers [3]. - The company is actively expanding its market presence by developing high-value products and establishing relationships with overseas clients, including those in Japan, South Korea, and Southeast Asia [4][5]. Group 3: Research and Development - R&D investment reached 190.20 million yuan, a 40.82% increase year-on-year, with 318 R&D personnel, accounting for 12.18% of the total workforce [6]. - The company applied for 17 technology patents during the reporting period, including 11 invention patents, and received 3 new patent authorizations [6][7]. - The focus on high-performance copper foil products has led to significant advancements in technology, including breakthroughs in various specialized copper foil applications [8][9]. Group 4: Governance and Investor Relations - The company has strengthened its governance framework, ensuring compliance with regulatory requirements and enhancing internal controls [10][11]. - A stock incentive plan was implemented to align the interests of key personnel with company performance, promoting long-term growth [12]. - The company emphasizes transparent communication with investors, having disclosed 117 announcements in the first half of 2025, and actively engages with stakeholders through various channels [14][15][16]. Group 5: Shareholder Returns - The company has adopted a policy of not distributing cash dividends for the 2024 fiscal year due to negative net profit, focusing instead on maintaining cash reserves for future growth [13][14]. - The commitment to enhancing shareholder value is reflected in the ongoing efforts to improve operational performance and market competitiveness [13][14].