J.S. Machine(000821)2025-04-25 12:10Financial Performance - The company's operating revenue for 2024 reached ¥8,722,885,730.50, representing a 20.92% increase compared to ¥7,213,835,398.00 in 2023[20]. - The net profit attributable to shareholders for 2024 was ¥428,789,896.47, a 27.42% increase from ¥336,515,852.40 in 2023[20]. - The net profit after deducting non-recurring gains and losses was ¥349,309,881.08, up 10.50% from ¥316,131,405.84 in 2023[20]. - Basic earnings per share increased to ¥0.69, a rise of 27.78% from ¥0.54 in 2023[20]. - Total revenue for 2024 reached ¥8,722,885,730.50, representing a year-over-year increase of 20.92% from ¥7,213,835,398.00 in 2023[87]. - The specialized equipment manufacturing sector contributed ¥8,228,989,684.12, accounting for 94.34% of total revenue, with a year-over-year growth of 23.96%[87]. - Domestic sales amounted to ¥6,726,451,883.43, which is 77.11% of total revenue, reflecting a significant increase of 28.99% compared to the previous year[88]. - The photovoltaic automation production line generated ¥6,837,601,164.14, making up 78.39% of total revenue, with a growth rate of 24.29%[88]. - The packaging equipment segment reported a revenue of 950 million yuan, reflecting a year-on-year growth of 16.30%[82]. Cash Flow and Investments - The company's cash flow from operating activities showed a significant decline, with a net cash outflow of ¥420,502,973.75 compared to a positive cash flow of ¥1,191,185,859.76 in 2023, marking a 135.30% decrease[20]. - The company reported a net cash outflow from operating activities of CNY 420.50 million, a decrease of 135.30% compared to the net inflow of CNY 1.19 billion in the previous year[106]. - The company’s cash and cash equivalents decreased by 57.83% to CNY 254.39 million compared to CNY 603.29 million in the previous year[108]. - The net cash inflow from financing activities was CNY 1.02 billion, a significant increase of 356.57% compared to a net outflow of CNY 399.24 million in the previous year[108]. - The company reported a significant increase in investment activity cash inflow by 10.93% to CNY 1.29 billion compared to the previous year[108]. - The company’s total investment during the reporting period reached ¥425,733,172.82, a significant increase of 13,633.33% compared to ¥3,100,000.00 in the same period last year[116]. Market and Business Expansion - The company has expanded its main business to include automotive parts manufacturing since 2010, and has also ventured into industrial automation and robotics[18]. - The company has established a global customer base, with products exported to over 60 countries and regions[48]. - The company aims to expand its market reach and enhance its competitive edge through strategic technological advancements and product diversification[50]. - The company plans to expand its packaging equipment segment by integrating AI quality inspection and IoT remote operation systems to help clients achieve cost reduction and carbon neutrality[135]. - The company is focusing on the development of high-speed digital printing equipment to meet the growing demand for personalized and short-run packaging[135]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[145]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of 500 million yuan for potential deals[146]. Research and Development - In 2024, the company plans to invest CNY 451 million in R&D, with a cumulative investment exceeding CNY 1.1 billion over the past three years[70]. - The company holds 200 valid invention patents, 901 utility model patents, and 27 design patents, showcasing its strong intellectual property portfolio[70]. - The company is developing new technologies such as the SJK type gluing machine and the PX type collision line machine to enhance production efficiency and meet market demands[99]. - The company is increasing R&D investment in next-generation battery technology and establishing a localized service network in key markets like Southeast Asia and Europe to mitigate risks[138]. - The company has achieved a net profit of CNY 38,353.30 thousand from its subsidiary, Suzhou Shengcheng, which specializes in photovoltaic automation equipment[132]. Corporate Governance - The company maintains a strict separation from its controlling shareholder in terms of personnel, assets, finance, organization, and business operations, ensuring independent business capabilities[157]. - The board of directors consists of more than one-third independent directors, complying with legal and regulatory requirements[159]. - The company has established a performance evaluation and incentive mechanism, with a transparent assessment standard for directors and senior management[161]. - The company adheres to legal requirements for information disclosure, ensuring timely and accurate communication with investors[162]. - The company has established a risk management committee to oversee derivative investments and ensure compliance with risk management policies[121]. Employee Management - The total number of employees at the end of the reporting period is 5,166, with 1,195 in the parent company and 3,971 in major subsidiaries[199]. - The professional composition includes 2,637 production personnel, 210 sales personnel, 1,741 technical personnel, 96 financial personnel, and 482 administrative personnel[199]. - The company emphasizes efficiency and fairness in its compensation structure, aiming to maximize labor distribution[200]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 8.9986 million RMB[187]. - The company has implemented a structured approach to employee compensation based on job nature, enhancing motivation and productivity[200]. Risk Management - The photovoltaic equipment business has experienced rapid growth, but faces risks from subsidy policy adjustments and international trade environment changes, which may lead to cyclical demand fluctuations[138]. - There is a risk of extended accounts receivable collection periods and inventory impairment due to pressures in the photovoltaic downstream industry, which may affect cash flow[140]. - Measures to mitigate risks include strengthening customer credit management and optimizing inventory management to reduce stockpiling risks[140]. - The company is addressing foreign exchange risks by enhancing management of foreign currency revenues and implementing hedging mechanisms to minimize adverse impacts on profitability[139].