Financial Performance - The company reported a significant decline in basic earnings per share, which fell by 33.33% to 1.00 CNY per share from 1.50 CNY per share in the previous year, indicating weakened profitability [4] - Net profit attributable to shareholders decreased by 13.47% to 62,075,260.49 CNY from 71,740,363.64 CNY, primarily due to lower gross margins in the automotive gear business and increased R&D expenses [3][4] - Operating cash flow net amount dropped by 74.00% to 18,056,345.83 CNY from 69,444,575.13 CNY, influenced by increased raw material procurement and employee compensation [6] Revenue Growth - The company achieved a revenue of 665,512,421.51 CNY in 2024, a 26.09% increase from 527,789,367.22 CNY in the previous year, driven by active market expansion [2] - The automotive gear business generated 391,228,337.33 CNY, accounting for 58.79% of total revenue, with a growth of 23.04%, while the electric tool gear business saw a revenue increase of 48.25% to 139,989,260.47 CNY, representing 21.03% of total revenue [2] Cost and Expenses - Sales expenses rose by 31.90% to 11,127,701.97 CNY from 8,436,228.68 CNY, attributed to increased sales personnel compensation and revenue growth [4] - R&D expenses increased by 26.40% to 41,526,892.66 CNY from 32,853,484.96 CNY, reflecting the company's commitment to innovation despite short-term profit pressure [4][5] R&D Investment - R&D investment amounted to 41,526,892.66 CNY, representing 6.24% of revenue, slightly up from 6.22% in the previous year, with ongoing projects aimed at enhancing market competitiveness [5] - The number of R&D personnel increased from 143 to 153, a growth of 6.99%, although the proportion of R&D staff relative to total employees decreased from 12.79% to 10.88% [5] Cash Flow and Financing - The net cash flow from investing activities was -293,364,640.39 CNY, indicating continued investment in fixed and intangible assets [6] - The net cash flow from financing activities decreased significantly by 115.96% to -121,006,451.64 CNY, primarily due to dividend distributions and the previous year's fundraising [6] Executive Compensation - The total pre-tax compensation for the chairman was 706,800 CNY, while the general manager received 1,040,300 CNY, reflecting a modest increase of 5.55% compared to the previous year [9]