FRD(300602)2025-04-15 11:20Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2024, representing a year-over-year growth of 15%[23]. - The company's operating revenue for 2024 reached ¥5,030,786,389.36, representing a 15.76% increase compared to ¥4,345,940,678.81 in 2023[28]. - Net profit attributable to shareholders for 2024 was ¥188,890,277.36, an increase of 83.01% from ¥103,214,135.70 in 2023[28]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥157,565,060.54, up 92.81% from ¥81,720,180.26 in 2023[28]. - The basic earnings per share for 2024 was ¥0.33, reflecting a 73.68% increase from ¥0.19 in 2023[28]. - The gross margin for the year was reported at 35%, a slight increase from 32% in the previous year[23]. - The company achieved total operating revenue of 503,078.64 million yuan in 2024, representing a year-on-year growth of 15.76%[98]. - The revenue from electromagnetic shielding materials and devices was ¥1,309,897,874.02, accounting for 26.04% of total revenue, with a year-on-year growth of 11.40%[114]. Accounts Receivable and Cash Flow - As of December 31, 2024, the company's net accounts receivable amounted to 2,073.28 million yuan, representing 26.37% of total assets[8]. - The accounts receivable turnover rate for 2024 was 2.63 times, indicating a decrease from previous years[8]. - The company reported a net cash flow from operating activities of ¥352,031,680.29 for 2024, a decrease of 40.40% compared to ¥590,649,121.07 in 2023[28]. - Cash and cash equivalents decreased to ¥1,181,407,123.99, accounting for 15.03% of total assets, down from 16.99%[133]. - Accounts receivable increased to ¥2,073,277,117.22, representing 26.37% of total assets, up from 23.75%, primarily due to increased sales volume[133]. Research and Development - Research and development expenses increased by 25%, totaling RMB 150 million, focusing on 5G technology advancements[23]. - The company has accumulated 779 patents as of December 31, 2024, including 166 invention patents, 599 utility model patents, and 14 design patents, reflecting its strong focus on R&D and innovation[104]. - The company is focusing on developing new technologies and products, including high-performance liquid cooling modules and advanced thermal management solutions, to meet evolving customer demands[103]. - R&D expenditure for 2024 amounted to ¥263,156,029.73, representing 5.23% of operating revenue, slightly down from 5.32% in 2023[127]. Market Expansion and Strategy - The company plans to continue developing new technologies and products to maintain its competitive edge in the market[5]. - The company will focus on expanding its international market presence while monitoring global trade tariff policies[13]. - The company is expanding its market presence in Southeast Asia, with plans to establish two new manufacturing facilities by the end of 2024[23]. - The company aims to enhance its R&D capabilities and innovate in electromagnetic shielding and thermal management solutions, targeting growth in AI servers and new energy vehicles[156]. - The company plans to expand its market presence, particularly in overseas markets, with a focus on establishing production capabilities in Vietnam and potentially Thailand[158]. Sustainability and Corporate Governance - The company has initiated a new sustainability strategy, targeting a 30% reduction in carbon emissions by 2025[23]. - The company is committed to sustainable development, increasing investment in environmental technology to reduce carbon emissions and enhance resource utilization efficiency[162]. - The company emphasizes strengthening internal controls and governance to achieve its 2025 operational goals[157]. - The company has implemented strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining a high level of information disclosure[180]. Product Development and Innovation - New product launches include advanced electromagnetic shielding materials, expected to contribute an additional RMB 200 million in revenue[23]. - The company is developing low-viscosity high-strength epoxy resin to break the technology monopoly of imported products, aiming for a tensile strength of 55-65 MPa[123]. - The company is also researching a high-performance thermal management solution for micro cooling fans to enhance market competitiveness and reduce energy consumption[124]. - The company is focusing on the development of high thermal conductivity and high-temperature resistant materials for liquid cooling plates in electric vehicles[125]. Customer and Market Relationships - The company has established close partnerships with numerous well-known domestic and international clients, including Huawei, Microsoft, and BYD, enhancing its market share and brand recognition[104]. - The product line includes a comprehensive range of electromagnetic shielding and thermal management materials, catering to various customer needs across different industries, including new energy vehicles and data centers[105]. - The company is focusing on customized solutions for electromagnetic shielding and thermal management to meet the diverse needs of its clients[68]. Operational Efficiency - The company aims to enhance internal cost management and optimize resource allocation to control costs and expenses effectively[10]. - The company aims to improve operational efficiency by implementing new manufacturing technologies, projected to reduce costs by 8%[23]. - The company is implementing cost reduction and efficiency enhancement measures to improve profitability[98]. Leadership and Management - The company has maintained a stable management structure with new appointments aimed at enhancing operational efficiency[190]. - The current board of directors includes experienced professionals with diverse backgrounds, such as the chairman who founded the company in 1993 and has held multiple executive roles[192]. - The management team operates under clear responsibilities and has shown stability, with no reported violations of duties[179].