Tstc(600552)2025-03-27 13:30Financial Performance - The company's operating revenue for 2024 was approximately ¥4.89 billion, a decrease of 2.32% compared to ¥5.01 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was approximately ¥140.16 million, an increase of 30.76% from ¥107.19 million in 2023[22]. - The net cash flow from operating activities for 2024 was approximately ¥144.44 million, reflecting an increase of 8.23% compared to ¥133.45 million in 2023[23]. - The total assets at the end of 2024 reached approximately ¥11.27 billion, a growth of 10.12% from ¥10.23 billion at the end of 2023[23]. - The basic earnings per share for 2024 was ¥0.1484, representing a 30.75% increase from ¥0.1135 in 2023[24]. - The weighted average return on equity for 2024 was 3.38%, an increase of 0.84 percentage points compared to 2.54% in 2023[24]. - The company reported a net profit excluding non-recurring gains and losses of approximately -¥240.43 thousand for 2024, compared to -¥52.44 million in 2023[22]. - In 2024, the company achieved operating revenue of 4,893.82 million RMB, a year-on-year decrease of 2.32%, while net profit increased by 29.28% to 194.53 million RMB[31]. - The company reported a net profit attributable to shareholders of 140.16 million RMB, up 30.76% year-on-year[31]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.50 per 10 shares to all shareholders[6]. - The company approved a cash dividend of 0.5 CNY per share, totaling 47,230,344.70 CNY, which represents 44.06% of the net profit attributable to shareholders for the year[114]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) reached CNY 170,849,089.7, with an average annual net profit of CNY 623,255,526.64, resulting in a cash dividend ratio of 27.41%[119][120]. Research and Development - The company filed for 71 new patents in 2024, including 34 invention patents, and participated in establishing the first national standard for ultra-thin flexible glass[34]. - The R&D team consists of 724 members, including several provincial-level talent teams, enhancing the company's technological expertise[44]. - R&D expenses increased by 33.53% to CNY 292,754.79 million, reflecting higher investment in new product development[50]. - Total R&D investment amounted to CNY 432,663,700.08, representing 8.84% of operating revenue[57]. - The company has received 582 authorized patents, including 167 invention patents, demonstrating its strong innovation capabilities[43]. Market and Product Development - The international business revenue increased by 21.66%, with the international business proportion growing by 17.4 percentage points year-on-year[32]. - The company launched new products, including the world's first car-mounted sliding rollable display screen, and became a core supplier for major clients in the flexible display market[32]. - The company achieved a 24.4% year-on-year increase in sales of active zirconia products and a 232.89% increase in sales of nano-zirconia products[33]. - The company is focusing on high-quality development amidst economic downturns and industry competition, emphasizing innovation and digital transformation[30]. - The display materials and application materials sectors are identified as key emerging industries, with significant growth potential driven by advancements in technology and market demand[37]. Environmental Management - The company has established an environmental management system and invested CNY 31,513,900 in environmental protection during the reporting period[126]. - The companies have established a comprehensive environmental management system, ensuring compliance with national and local standards for wastewater and air pollutant emissions[131]. - The environmental impact assessment for the 6000 tons/year electronic packaging spherical powder project was approved on June 26, 2024[134]. - The companies collectively reported no major environmental issues during the reporting period, indicating effective pollution control measures[131]. - The company has implemented an environmental self-monitoring plan for key pollutant discharge units, ensuring compliance with local ecological and environmental department requirements[137]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, ensuring a structured governance framework with specialized committees for strategic oversight[84]. - The company is focused on enhancing its governance structure with independent directors and supervisors actively involved in oversight[90]. - The company has maintained a consistent leadership structure with several directors and supervisors continuing their terms until 2028[89]. - The company has a clear strategy for risk management, including foreign exchange hedging and adapting to technological changes[81]. - The company actively engages with stakeholders to balance interests and promote sustainable development[85]. Financial Management - The company has a loan amount of CNY 650 million from China National Building Material Group Financial Co., Ltd., with an interest rate range of 2.70%-2.90%[179]. - The actual loan amount utilized during the period is CNY 499 million, resulting in a remaining balance of CNY 0[179]. - The company has engaged in cash asset management with various bank financial products, totaling CNY 500 million with an expected annualized return of 1.15%[184]. - The total amount of funds raised during the reporting period was approximately 1,487.99 million RMB, with 1,206.59 million RMB utilized[192]. - The total cash management balance at the end of the reporting period was 30.10 million RMB, within the authorized limit[192]. Risks and Challenges - The company faces macroeconomic risks due to uncertainties in international trade and potential changes in trade policies, which could adversely affect exports and raw material imports[81]. - Rapid technological upgrades in the electronics industry pose a risk; the company aims to maintain innovation by leveraging its advanced materials research center and timely introduction of new technologies and products[81]. - The company has significant foreign sales denominated in USD, exposing it to exchange rate risks that could impact performance; it plans to match foreign currency income and expenses to mitigate this risk[81]. - The company is expanding its asset and business scale, which requires improved management practices to enhance operational efficiency and competitiveness[82]. Related Party Transactions - The company reported a significant increase in related party transactions, with the procurement of goods and services from 中材宁锐 (Nanjing) International Logistics amounting to ¥696,928.85, up from ¥270,400.00 in the previous period, representing a growth of approximately 157.5%[167]. - The engineering services received from 中国建材国际工程集团 increased to ¥39,478,580.81 from ¥69,780,650.46, indicating a decrease of about 43.5% year-over-year[167]. - The company has not disclosed any new major related party transactions or changes in existing agreements during the reporting period[169].