FIYTA(000026)2025-03-13 11:20Financial Performance - The company's operating revenue for 2024 was CNY 3,940,530,934.07, a decrease of 13.77% compared to CNY 4,569,690,002.99 in 2023[20]. - The net profit attributable to shareholders for 2024 was CNY 220,350,184.99, down 33.86% from CNY 333,178,102.37 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 208,728,288.68, a decline of 34.11% from CNY 316,806,208.13 in 2023[20]. - The basic earnings per share for 2024 was CNY 0.5385, representing a decrease of 33.37% compared to CNY 0.8082 in 2023[20]. - Total profit amounted to CNY 28,611,000, reflecting a year-on-year decline of 34.53%[38]. - The company reported a total profit of CNY 286,115,668.59 for 2024, down 34.51% from CNY 437,004,264.31 in 2023[189]. - The company reported a total profit of CNY 310,707,098.11 for 2024, up from CNY 234,670,954.71 in 2023, marking an increase of around 32%[193]. Assets and Liabilities - The total assets at the end of 2024 were CNY 4,007,690,717.02, a decrease of 4.68% from CNY 4,204,260,897.08 at the end of 2023[20]. - The company's total liabilities decreased from CNY 870,455,144.89 to CNY 615,847,516.41, representing a reduction of about 29.2%[183]. - The company's equity attributable to shareholders increased from CNY 3,333,805,752.19 to CNY 3,391,843,200.61, an increase of approximately 1.73%[183]. - Short-term borrowings decreased significantly from CNY 250,187,763.87 to CNY 124,087,754.51, a reduction of approximately 50.5%[182]. Cash Flow - The cash flow from operating activities for 2024 was CNY 536,730,960.29, down 15.13% from CNY 632,401,487.98 in 2023[20]. - Operating cash inflow decreased by 13.87% to ¥4,389,078,476.62 compared to ¥5,095,999,854.92 in 2023[61]. - The cash inflow from financing activities showed a net outflow of CNY 411,345,519.74 in 2024, worsening from a net outflow of CNY 352,163,687.52 in 2023[197]. Research and Development - Total R&D expenditure was ¥56,000,000.18, representing 1.42% of total revenue, with a slight decrease of 3.12% from the previous year[59]. - The company increased its R&D personnel to 136, a 14.29% increase from 119 in the previous year, with a higher proportion of staff holding bachelor's degrees[59]. Market and Business Strategy - The domestic retail sales of luxury goods, including watches, saw a decline of 18%-20% year-on-year, with Swiss watch exports to mainland China dropping by 25.8%[28]. - The company aims to enhance its core competitiveness in traditional watch business by strengthening brand building and optimizing channel management[29]. - The company plans to invest in precision technology and smart wearable industries to adapt to market changes and consumer preferences[29]. Governance and Compliance - The company maintains a governance structure compliant with relevant laws and regulations, ensuring independent operations from its controlling shareholder[81]. - The board of directors consists of nine members, including three independent directors, overseeing strategic decisions and risk management[79]. - The company has established a comprehensive decision-making and management system involving the shareholders' meeting, board of directors, supervisory board, and management team[78]. Shareholder Information - The company plans to distribute a cash dividend of CNY 4.00 per 10 shares to all shareholders[3]. - The cash dividend distribution represents 100% of the total profit distribution amount, with no stock dividends issued[109]. - The largest shareholder, AVIC International Holdings, holds 40.17% of the total shares, amounting to 162,977,327 shares[157]. Environmental and Social Responsibility - The company donated a total of CNY 4.2098 million to the Shanghai True Love Dream Foundation, benefiting 44,021 students through the "Dream Center" project across 12 provinces[126]. - Feiyada has established a greenhouse gas management team to implement annual emission reduction targets, aligning with the national "dual carbon" initiative[124]. Internal Control and Audit - The company has established a robust internal control system, with no significant defects reported during the reporting period[118]. - The audit report was issued with a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position and operating results[168].