JYL Group(002882)2025-04-02 10:15Financial Performance - The company's operating revenue for 2024 was approximately ¥3.68 billion, a decrease of 6.53% compared to ¥3.93 billion in 2023[18]. - The net profit attributable to shareholders for 2024 was approximately ¥140.14 million, down 14.14% from ¥163.21 million in 2023[18]. - The net cash flow from operating activities for 2024 was negative at approximately -¥18.60 million, a decline of 109.30% compared to ¥200.01 million in 2023[18]. - The basic earnings per share for 2024 was ¥0.3237, a decrease of 14.14% from ¥0.3770 in 2023[18]. - The weighted average return on net assets for 2024 was 6.61%, down from 7.99% in 2023[18]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was approximately ¥134.30 million in 2024, down 13.98% from ¥156.12 million in 2023[18]. - The company reported a significant increase in credit impairment losses, amounting to -52,351,243.05 CNY, which accounted for -29.06% of total profit[66]. - The company reported a consolidated net profit for 2024 of CNY 140,135,446.13, while the parent company's net profit is CNY 30,128,862.41[145]. Assets and Liabilities - Total assets at the end of 2024 increased by 16.09% to approximately ¥3.82 billion, compared to ¥3.29 billion at the end of 2023[18]. - The net assets attributable to shareholders at the end of 2024 were approximately ¥2.14 billion, an increase of 2.09% from ¥2.09 billion at the end of 2023[18]. - Cash and cash equivalents increased to ¥910,809,564.73, representing 23.87% of total assets, up from 17.87% at the beginning of the year, attributed to improved cash management practices[68]. - Accounts receivable decreased slightly to ¥1,223,367,803.4, accounting for 32.06% of total assets, down from 33.99%[68]. - Inventory rose to ¥643,233,771.34, making up 16.86% of total assets, compared to 17.90% previously[68]. - Short-term borrowings decreased to ¥491,997,223.52, representing 12.89% of total assets, down from 15.01%[68]. - The total restricted cash and receivables amounted to ¥897,491,572.94, indicating a substantial portion of assets is under restrictions[72]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥3 per 10 shares, based on a total of 432.9 million shares[5]. - The cash dividend distribution accounts for 100% of the total profit distribution amount[144]. - The total distributable profit for the consolidated financial statements is CNY 936,174,310.79, and for the parent company, it is CNY 308,256,639.57[145]. Market and Competition - The company focuses on the civil sector, which accounted for 91.22% of total revenue, with a year-on-year decline of 7.27%[50]. - The cable industry in China is characterized by low market concentration, with many small enterprises, indicating potential for consolidation and increased market share for larger players[28]. - The company is actively expanding into provincial and overseas markets, enhancing brand communication internationally, and optimizing customer structure[45]. - The company is facing market competition risks due to numerous competitors in the industry, leading to potential customer loss and declining gross margins[91]. - The company is focusing on quality and brand as key competitive factors in the industry, moving away from price competition[89]. Research and Development - The company continues to invest in R&D, launching new products such as Category 5/6 unshielded high-speed networks during the reporting period[47]. - The company is actively researching solid-state batteries and key materials, aiming to industrialize research outcomes[33]. - The company is focusing on the development of solid-state batteries and related materials, which are currently in progress and aim for large-scale production[62]. - The number of R&D personnel increased by 68.75% from 48 in 2023 to 81 in 2024, with a significant rise in master's degree holders by 112.50%[61]. Management and Governance - The management team has extensive industry experience, with most members having over ten years in the field, enabling quick adaptation to market changes[39]. - The company has established a solid quality control system, achieving certifications such as ISO9001:2008 and BASEC, enhancing product reliability and production efficiency[34]. - The company has a complete organizational structure with independent functioning of the shareholders' meeting, board of directors, and supervisory board[109]. - The company adheres to strict governance practices, complying with relevant laws and regulations to maintain a robust corporate governance structure[96]. - The company has established independent operational capabilities, ensuring no reliance on the controlling shareholder for business operations[106]. Employee and Compensation - The company has a total of 840 employees, with 498 in production, 109 in sales, and 112 in technical roles[140]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 12.06 million[130]. - The company has established a fair and competitive compensation policy, with salaries based on performance and job responsibilities[141]. - The company has implemented a training program for new employees, covering various essential topics such as labor law and safety training[142]. Environmental and Social Responsibility - The company emphasizes social responsibility, focusing on safety production, environmental protection, and resource conservation[155]. - The company has implemented environmental management systems and received multiple green design evaluation certificates for its products during the reporting period[160]. - The company actively promotes green manufacturing and energy conservation, reducing environmental impact through cost reduction and efficiency improvement strategies[160]. Legal and Compliance - The company has not faced any penalties or corrective actions during the reporting period[176]. - The company has resolved a contractual dispute involving its controlling shareholder, with the related shares being unfrozen as of February 5, 2024[177]. - The company has reported 14 previous cases of goods sales contract disputes, with a total amount involved of RMB 4,998,000, all of which have been settled[175]. - The company has engaged in related party transactions for raw material procurement, with pricing based on market rates[178].