QRUNNINGCABLE(834682)2025-03-28 11:40Financial Performance - The company's operating revenue for 2024 reached ¥3,584,725,310.92, an increase of 20.19% compared to ¥2,982,515,765.61 in 2023[29] - The net profit attributable to shareholders for 2024 was ¥132,916,429.19, reflecting an 8.43% increase from ¥122,579,594.13 in 2023[29] - The gross profit margin decreased to 10.86% in 2024 from 12.76% in 2023[29] - The basic earnings per share for 2024 was ¥0.49, an increase of 8.89% from ¥0.45 in 2023[29] - Operating income for 2024 reached CNY 3,584,725,310.92, reflecting a growth rate of 20.19% compared to the previous year[32] - Net profit attributable to shareholders was CNY 132,916,429.19, with a growth rate of 8.43% year-over-year[32] - The company's total revenue for the reporting period reached ¥3,584,725,310.92, an increase of 12.16% compared to the previous year[64] - The company's net profit for 2024 was 132,916,429.19, an increase of 8.43% compared to 122,579,594.13 in 2023[58] Assets and Liabilities - Total assets at the end of 2024 amounted to ¥2,444,649,521.19, a 5.43% increase from ¥2,318,735,456.84 in 2023[31] - The total liabilities increased to ¥1,328,873,690.22 in 2024, up 6.08% from ¥1,252,676,055.06 in 2023[31] - The company's total assets increased by 5.43% from 2,318,735,456.84 to 2,444,649,521.19[52] - Long-term borrowings increased by 31.07% to 221,500,000.00, reflecting a restructuring of the debt profile[52][55] Market Position and Recognition - The company ranked 29th in the "2024 Most Competitive Enterprises in China's Cable Industry" list, marking its first entry into the top 30[9] - The company won the "North Exchange Small Giant Award" for the third consecutive year in October 2024[11] - Major customers included State Grid Corporation with sales of ¥1,848,588,783.84, accounting for 51.57% of total sales[69] Research and Development - The company completed 15 product R&D projects, including high-conductivity aluminum alloy cross-linked polyethylene cables[46] - The company obtained 16 national patent authorizations, including one invention patent, during the reporting period[46] - Research and development expenses rose by 17.82% to 116,205,057.95, highlighting the company's commitment to innovation[57] - The total number of R&D personnel increased to 118, representing 18.47% of the total workforce, up from 17.47% in the previous period[85] Corporate Social Responsibility - The company has actively recruited 123 employees from impoverished areas since 2020, demonstrating commitment to social responsibility and poverty alleviation initiatives[96] - The company is recognized as a national high-tech enterprise and has received multiple awards for its contributions to social responsibility and green development[48] - The company has been recognized as a "green factory" and maintains a "green supply chain management system," highlighting its commitment to environmental sustainability[103] Governance and Management - The company has a total of 11,819 common shareholders as of the reporting period[132] - The company’s management team includes 4 senior executives, with compensation details provided for transparency[153] - The company has established a robust governance structure to protect the rights of minority shareholders, ensuring fair and transparent information disclosure[174] - The board of directors has established specialized committees, including the audit committee, nomination committee, and remuneration committee, to enhance governance and oversight[190] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies[37] - The company aims to expand its market presence in state-owned enterprises and local power markets while increasing high-voltage cable sales and launching new products[111] - By 2025, the company plans to optimize market layout, enhance production efficiency, and continuously innovate technology to achieve stable operational performance[110] Risks and Challenges - Fluctuations in raw material prices, particularly copper and aluminum, pose significant risks to the company's cost management and profitability[114] - The company faces challenges from industry competition and regulatory requirements, which could impact its operational performance if not managed effectively[114] - The company faces significant competition in the low and medium voltage cable market due to over 4,000 enterprises in the industry, leading to a cost leadership strategy to strengthen its position[115] Dividend Policy - The company plans to distribute a cash dividend of 4.00 CNY per 10 shares, totaling 62,400,000.00 CNY for the year 2023[149] - The profit distribution policy ensures that at least 10% of the distributable profit will be allocated as cash dividends if the company is profitable and has no major investment plans[148] - The cash dividend policy is compliant with the company's articles of association and shareholder resolutions[150]