北摩高科(002985) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥537,899,353.73, a decrease of 43.62% compared to ¥954,016,301.63 in 2023[19] - The net profit attributable to shareholders for 2024 was ¥16,154,211.77, down 92.57% from ¥217,431,178.89 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥6,156,135.22, a decline of 97.05% from ¥208,948,387.28 in 2023[19] - The basic earnings per share for 2024 was ¥0.05, a decrease of 92.42% compared to ¥0.66 in 2023[19] - The total assets at the end of 2024 were ¥4,041,340,662.72, down 11.68% from ¥4,575,915,430.84 at the end of 2023[19] - The net assets attributable to shareholders decreased by 21.63% to ¥2,496,442,683.84 from ¥3,185,301,831.27 in 2023[19] - The cash flow from operating activities for 2024 was ¥184,515,302.06, a decrease of 8.03% compared to ¥200,619,446.25 in 2023[19] - The company reported a weighted average return on equity of 0.62% for 2024, down from 7.08% in 2023[19] - The company experienced a significant decline in performance, with all key financial metrics showing negative growth compared to the previous year[19] Government Support and Market Outlook - In 2024, the company reported a government subsidy of 8,563,737.09, a decrease of 26.5% from 2023's 11,634,184.94[25] - China's defense spending is projected to reach 1,784.665 billion in 2025, reflecting a 7.2% increase, indicating strong government support for the defense industry[29] - The company is positioned to benefit from the growing demand in the military aviation sector, with China's military aircraft count at 3,304, ranking third globally[31] - The civil aviation sector is recovering, with a 17.9% year-on-year increase in passenger transport, reaching 730 million in 2024[32] Product Development and Innovation - The company has achieved a significant transformation from a parts supplier to a system supplier and overall solution provider in the military and civil aviation sectors[37] - The company has developed proprietary carbon/carbon composite material preparation technology, significantly improving the oxidation resistance of high-load aircraft brake discs[38] - The all-electric brake control system has achieved over 90% braking efficiency and has been applied in aerospace high-altitude vehicles, addressing traditional hydraulic brake oil leakage issues[41] - The company plans to expand its testing and inspection capabilities by enhancing technical development in microwave devices and electromagnetic compatibility by 2025[43] - The company has transitioned from a component supplier to a system-level supplier, enhancing its integrated capabilities in landing gear systems[63] - The company has signed a technical agreement in December 2020, marking a significant step in its product development strategy[88] Revenue Breakdown - Military products accounted for 88.00% of total revenue in 2024, generating CNY 473.34 million, a decrease of 35.55% year-on-year[74] - Revenue from the aircraft brake control system and wheels was 163 million yuan, a decline of 60.60% year-on-year, with successful trials for several new aircraft models[69] - Revenue from the landing gear system increased significantly by 1766.18% year-on-year, reaching 83.62 million yuan, with successful certification and production for multiple aircraft types[70] Research and Development - The company has established partnerships with top universities to attract high-end technical talent, enhancing its research and development capabilities[65] - The company has filed for 15 new patents in the last quarter, reflecting its commitment to innovation and technology advancement[141] - R&D investment decreased by 32.78% from ¥85,693,817.69 in 2023 to ¥57,603,921.26 in 2024, while the ratio of R&D investment to operating revenue increased from 8.98% to 10.71%[89] Management and Governance - The company experienced a significant management turnover, with multiple senior executives resigning or being appointed in 2024[132] - The company aims to maintain a strong governance structure with the recent appointments and changes in the board of directors and management team[132] - The company is committed to ensuring a smooth transition during the management changes to maintain operational stability[132] Employee and Talent Management - The company has a total of 906 employees, with 602 in production, 52 in sales, 161 in technical roles, 28 in finance, and 63 in administration[158] - The company emphasizes training and development for employees, implementing tailored training programs based on individual and job needs[161] - The company has established a comprehensive salary management system and long-term incentive plans to attract and retain talent[160] Financial Management and Controls - The company has a robust internal control system, ensuring compliance with laws and regulations, and a clear governance structure[166] - The internal control evaluation report indicates that 94.07% of the total assets and 91.84% of the total revenue of the consolidated financial statements are included in the evaluation scope[188] - The company has implemented a strict external investment management system to control investment risks and ensure compliance with decision-making protocols[185] Shareholder Engagement - The company plans to distribute a cash dividend of 0.23 yuan per 10 shares, totaling 7,632,632.80 yuan, which represents 47.25% of the net profit attributable to shareholders for the year 2024[162] - The company held 3 shareholder meetings, 6 board meetings, and 6 special committee meetings in 2024, ensuring active communication with investors[195] - The company actively engages with investors through various channels, ensuring transparency and fairness in information dissemination[195]