Web：https://www.willfar.com/ https://en.willfar.com/Tel：0731-88619798
Willfar Information Technology Co., Ltd.Corporate Value and Return EnhancementAction Plan 2024
Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China
Willfar Information Technology Co., Ltd
Stock Code:688100
Catalog
To implement the initiative to car out the special action of “Corporate Value andReturn Enhancement" for Science and Technology Innovation Board listed companies, andto implement the investor-centered philosophy proposed in the initiative, promoting listedcompanies to continuously optimize operations, standardize governance, and activelyreturn to investors, vigorously improve the quality of listed companies, boost condence,stabilize the capital market, and promote high-quality economic development, WillfarInformation hereby formulates the 2024 Annual Action Plan.Willfar Information deeply acknowledges the impoance of improving the quality oflisted companies and enhancing investor returns. In 2024, the company will activelyimplement measures for " Corporate Value and Return Enhancement " special initiative,improve the quality of company operations, increase investor returns, enhance the sense ofgain for investors, and achieve shared benets between management and shareholders.
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Embrace the “Value Creation as Priority” Philosophy,Continuously Delivering Substantial Returns to Investors.
Continuously Practicing "Benet Sharing"to Construct a Win-Win Situation for Managementand Shareholders
Strengthening Governance Foundations toSolidify the Embankment of High-Quality Development
Intuitive and Understandable,Globally Diverse: Enhancing Investor Communications
Deepening the Foundation in the Energy IoT Sector,Forging an Innovation-Driven Development Engine
Continuously Focusing on "Improving Quality andIncrease Eciency" to Activate New Momentum forHigh-Quality Development
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Catalog
To implement the initiative to car out the special action of “Corporate Value andReturn Enhancement" for Science and Technology Innovation Board listed companies, andto implement the investor-centered philosophy proposed in the initiative, promoting listedcompanies to continuously optimize operations, standardize governance, and activelyreturn to investors, vigorously improve the quality of listed companies, boost condence,stabilize the capital market, and promote high-quality economic development, WillfarInformation hereby formulates the 2024 Annual Action Plan.
Willfar Information deeply acknowledges the impoance of improving the quality oflisted companies and enhancing investor returns. In 2024, the company will activelyimplement measures for " Corporate Value and Return Enhancement " special initiative,improve the quality of company operations, increase investor returns, enhance the sense ofgain for investors, and achieve shared benets between management and shareholders.
0102
0304
0506
Page 02-04 Page 05-06
Page 07-08 Page 09-11
Page 12-14 Page 15-17
Embrace the “Value Creation as Priority” Philosophy,Continuously Delivering Substantial Returns to Investors.
Continuously Practicing "Benet Sharing"to Construct a Win-Win Situation for Managementand Shareholders
Strengthening Governance Foundations toSolidify the Embankment of High-Quality Development
Intuitive and Understandable,Globally Diverse: Enhancing Investor Communications
Deepening the Foundation in the Energy IoT Sector,Forging an Innovation-Driven Development Engine
Continuously Focusing on "Improving Quality andIncrease Eciency" to Activate New Momentum forHigh-Quality Development
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Willfar, prioritizes value creation in its business management and place greatemphasis on returns to investors.The company successfully listed on the STAR Market on January 21, 2020, raisinga net amount of 610 million yuan. All the funds were fully invested in enhancing thecompany's production capacity and research and development innovation and broughtsustained and steady growth in business performance.Since its listing, the company has achieved dual growth both in annual revenueand net profit over the years, with a compound annual growth rate (CAGR) of 15.65%for revenue and 24.68% for net profit. It has distributed a cumulative cash dividend of490 million yuan and completed a share repurchase with an amount of 299 million yuan,representing 2.46% of the total share capital. Additionally, the return on equity (ROE)has also continued to grow, reflecting an improvement in profit quality.
The 2023 Cash Dividend Distribution Plan Announced, with a proposed 30% Increase in Dividend Per Share
2019202020212022
1.75
2.25
2.6
3.3
2023(planned)
4.3
4.5
3.5
2.5
1.5
0.5
Cash Dividend Distributed per 10 Shares (yuan)
Cashdividenddistributedper10sharesLinear(Cashdividenddistributedper10share)
On March 21, 2024, the company will hold its annual general meeting to reviewthe dividend distribution plan for 2023. It is proposed to distribute a cash dividend of
4.3 yuan (tax included) per 10 shares to all shareholders, representing a year-over-year increase of 30% in cash dividend per share. The total expected cash dividends tobe distributed are 210 million yuan. With this, the company expects to havedistributed a total of 700 million yuan in cash dividends since its listing, which is morethan the amount of funds raised from the listing, delivering substantial returns toinvestors through actions.
Embrace the “Value Creation as Priority” Philosophy,Continuously Delivering Substantial Returns to Investors.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Willfar, prioritizes value creation in its business management and place greatemphasis on returns to investors.The company successfully listed on the STAR Market on January 21, 2020, raisinga net amount of 610 million yuan. All the funds were fully invested in enhancing thecompany's production capacity and research and development innovation and broughtsustained and steady growth in business performance.
Since its listing, the company has achieved dual growth both in annual revenueand net profit over the years, with a compound annual growth rate (CAGR) of 15.65%for revenue and 24.68% for net profit. It has distributed a cumulative cash dividend of490 million yuan and completed a share repurchase with an amount of 299 million yuan,representing 2.46% of the total share capital. Additionally, the return on equity (ROE)has also continued to grow, reflecting an improvement in profit quality.
The 2023 Cash Dividend Distribution Plan Announced, with a proposed 30% Increase in Dividend Per Share
2019202020212022
1.75
2.25
2.6
3.3
2023(planned)
4.3
4.5
3.5
2.5
1.5
0.5
Cash Dividend Distributed per 10 Shares (yuan)
Cashdividenddistributedper10sharesLinear(Cashdividenddistributedper10share)
On March 21, 2024, the company will hold its annual general meeting to reviewthe dividend distribution plan for 2023. It is proposed to distribute a cash dividend of
4.3 yuan (tax included) per 10 shares to all shareholders, representing a year-over-year increase of 30% in cash dividend per share. The total expected cash dividends tobe distributed are 210 million yuan. With this, the company expects to havedistributed a total of 700 million yuan in cash dividends since its listing, which is morethan the amount of funds raised from the listing, delivering substantial returns toinvestors through actions.
Embrace the “Value Creation as Priority” Philosophy,Continuously Delivering Substantial Returns to Investors.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Enhancing the 2024 Cash Dividend Plan,Proposing a 40% Cash Dividend Payout Ratio
In 2024, focusing on long-term, sustainable development and considering thecompany's actual situation, strategic development planning, and industry trends, thecompany plans to establish a scientific, continuous, and stable reward planning andmechanism for investors. This ensures the continuity and stability of the profit distributionpolicy, with a planned cash dividend payout ratio of 40% of the 2024 profits.
Planning to Establish a Stable Stock Price Scheme in 2024
In 2024, based on the capital market conditions, the company also plans to establish astable stock price scheme. If necessary, timely measures will be taken to boost marketconfidence and maintain stock price stability.
Looking forward, the company will continue to prioritize the needs of investors, strivingto create a future of value sharing and mutual success. Investors will grow together with thecompany, share in the fruits of success and achieve stable wealth appreciation.
Continuously Practicing "Benet Sharing"to Construct a Win-Win Situation for Managementand ShareholdersThe company has established a functional compensation system that combinesjob responsibilities with target accountability, taking value contribution as the coreprinciple for compensation incentive distribution. This ensures the fairness,motivational aspect, and competitiveness of the company's compensation distribution.At the same time, the company continuously improves the employee careerdevelopment planning system, fully mobilizing employees' enthusiasm and creativity,enhancing staff cohesion, and the company's core competitiveness.In 2024, the company will establish and implement a series of systems andmeasures to strengthen the interest-sharing mechanism between management andshareholders. These efforts aim to stimulate the management's enthusiasm andcreativity, promoting the company's long-term and stable development.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Enhancing the 2024 Cash Dividend Plan,Proposing a 40% Cash Dividend Payout RatioIn 2024, focusing on long-term, sustainable development and considering thecompany's actual situation, strategic development planning, and industry trends, thecompany plans to establish a scientific, continuous, and stable reward planning andmechanism for investors. This ensures the continuity and stability of the profit distributionpolicy, with a planned cash dividend payout ratio of 40% of the 2024 profits.
Planning to Establish a Stable Stock Price Scheme in 2024
In 2024, based on the capital market conditions, the company also plans to establish astable stock price scheme. If necessary, timely measures will be taken to boost marketconfidence and maintain stock price stability.
Looking forward, the company will continue to prioritize the needs of investors, strivingto create a future of value sharing and mutual success. Investors will grow together with thecompany, share in the fruits of success and achieve stable wealth appreciation.
Continuously Practicing "Benet Sharing"to Construct a Win-Win Situation for Managementand Shareholders
The company has established a functional compensation system that combinesjob responsibilities with target accountability, taking value contribution as the coreprinciple for compensation incentive distribution. This ensures the fairness,motivational aspect, and competitiveness of the company's compensation distribution.At the same time, the company continuously improves the employee careerdevelopment planning system, fully mobilizing employees' enthusiasm and creativity,enhancing staff cohesion, and the company's core competitiveness.In 2024, the company will establish and implement a series of systems andmeasures to strengthen the interest-sharing mechanism between management andshareholders. These efforts aim to stimulate the management's enthusiasm andcreativity, promoting the company's long-term and stable development.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Launching the First Employee Stock Ownership Plan (ESOP) at the
Beginning of 2024
Sharing Responsibilities and Benets, Planning to ContinuouslyLaunch Long-term Equity Incentive Plans in the Next Two Years
Improving the Scientic Compensation Management
System to Build a Diversied Incentive System
The company will introduce the first phase of the Employee Stock Ownership Plan in 2024,totaling 4 million shares. The ESOP will have a lock-up period, unlocking in three phases at 12months, 24 months, and 36 months after the transfer of the target shares to the ESOP, with eachunlocking phase releasing 40%, 30%, and 30% of the shares, respectively. The ESOP also setsindividual performance assessment indicators, determining performance levels based on employeeevaluation scores and comprehensive assessment results. This approach not only fully motivatesthe participants but also imposes corresponding constraints, encouraging long-term shareholdingand focusing on the company's long-term value, thus more effectively aligning the interests of theholders with those of the company and its shareholders.
In 2024, it is planned to establish a dynamic compensation adjustment mechanism and amarket-oriented performance evaluation system. The compensation for senior executives willconsist of multiple components, including base salary, performance bonus, and long-termincentive plans. Based on the company's strategy, long-term, medium, and short-termperformance and management goals, establish a performance evaluation system that combinesKPIs and OKRs. The company's performance in major R&D progress and business development willbe included in the performance assessment, linking the management's compensation andperformance to the overall performance of the company. The performance results are applied in atimely manner, with performance-oriented resources being allocated to high-output areas,fostering a culture of excellence and stimulating organizational vitality.
To continuously strengthen the shared responsibility and benefit constraint betweenmanagement and shareholders, the company will use all repurchased shares for long-term equityincentives. The plan is to implement 4 million shares in 2025 and 4.31 million shares in 2026. Theseensure the long-term incentive and constraint mechanism for the company's management teamand key business teams, promote the alignment of interests and shared profits betweenmanagement and all shareholders, and enhancing the overall value of the company.
Strengthening Governance Foundations toSolidify the Embankment of High-Quality Development2024 marks the fifth year since Willfar's listing, with the listing being the "startingpoint" for higher-quality development. Compliant and lawful operation is thecornerstone of sustainable business. In 2024, the company will continue to rememberthe "four respects" and adhere to the "four bottom lines," treating compliance as both abelief and a habit. It will continue to adhere to standardized governance, improvegovernance structures, enhance internal control system construction, strengthen riskmanagement, and elevate decision-making levels. The aim is to create a more efficientmanagement system and a more scientific management mechanism to ensurecompliant operations, protect the legitimate rights and interests of a broad investorbase, and achieve a virtuous cycle of company development.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Launching the First Employee Stock Ownership Plan (ESOP) at the
Beginning of 2024
Sharing Responsibilities and Benets, Planning to ContinuouslyLaunch Long-term Equity Incentive Plans in the Next Two Years
Improving the Scientic Compensation ManagementSystem to Build a Diversied Incentive System
The company will introduce the first phase of the Employee Stock Ownership Plan in 2024,totaling 4 million shares. The ESOP will have a lock-up period, unlocking in three phases at 12months, 24 months, and 36 months after the transfer of the target shares to the ESOP, with eachunlocking phase releasing 40%, 30%, and 30% of the shares, respectively. The ESOP also setsindividual performance assessment indicators, determining performance levels based on employeeevaluation scores and comprehensive assessment results. This approach not only fully motivatesthe participants but also imposes corresponding constraints, encouraging long-term shareholdingand focusing on the company's long-term value, thus more effectively aligning the interests of theholders with those of the company and its shareholders.
In 2024, it is planned to establish a dynamic compensation adjustment mechanism and amarket-oriented performance evaluation system. The compensation for senior executives willconsist of multiple components, including base salary, performance bonus, and long-termincentive plans. Based on the company's strategy, long-term, medium, and short-termperformance and management goals, establish a performance evaluation system that combinesKPIs and OKRs. The company's performance in major R&D progress and business development willbe included in the performance assessment, linking the management's compensation andperformance to the overall performance of the company. The performance results are applied in atimely manner, with performance-oriented resources being allocated to high-output areas,fostering a culture of excellence and stimulating organizational vitality.
To continuously strengthen the shared responsibility and benefit constraint betweenmanagement and shareholders, the company will use all repurchased shares for long-term equityincentives. The plan is to implement 4 million shares in 2025 and 4.31 million shares in 2026. Theseensure the long-term incentive and constraint mechanism for the company's management teamand key business teams, promote the alignment of interests and shared profits betweenmanagement and all shareholders, and enhancing the overall value of the company.
Strengthening Governance Foundations toSolidify the Embankment of High-Quality Development
2024 marks the fifth year since Willfar's listing, with the listing being the "startingpoint" for higher-quality development. Compliant and lawful operation is thecornerstone of sustainable business. In 2024, the company will continue to rememberthe "four respects" and adhere to the "four bottom lines," treating compliance as both abelief and a habit. It will continue to adhere to standardized governance, improvegovernance structures, enhance internal control system construction, strengthen riskmanagement, and elevate decision-making levels. The aim is to create a more efficientmanagement system and a more scientific management mechanism to ensurecompliant operations, protect the legitimate rights and interests of a broad investorbase, and achieve a virtuous cycle of company development.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Keeping Pace with Policy Steps to Ensure Ecient and Compliant Systems
Empowering Key Roles to Enhance Governance Capabilities
Integrating Regulato Dynamics to Solidify the Embankment of Development
Update and strengthen the implementation of new policies. On February 28, 2024, thecompany held the ninth meeting of its third board of directors, during which it reviewed andapproved revisions to nine governance systems, including the 《Constitution》, the 《WorkingSystem for Independent Directors》, the 《External Guarantee Management System》 and the《Implementation Rules for Related Party Transactions》. These revisions were made in response tothe governance rules for listed companies issued by the China Securities Regulatory Commission(CSRC) and the Shanghai Stock Exchange (SSE) in 2023. The company plans to hold its annualgeneral meeting on March 21, 2024, to approve the revised systems. In 2024, the company willstrengthen the internal training, dissemination, and execution inspection of the new systems toenhance the effectiveness of the company's system implementation.In 2024, the company will also establish a mechanism for regular monitoring of new regulatoryrules to quickly respond to regulatory dynamics and revise and approve company systems in atimely manner following the issuance of new capital market regulations.
The "key minority" play a crucial role in company governance. In 2024, the company will notonly promptly relay statutory training organized by capital market regulatory departments but alsofully leverage resources from the CSRC, Shanghai Stock Exchange, Pujiang Lectures, ChinaAssociation for Public Companies and its training platforms, China Capital Market Institute, etc., toorganize online and offline training for the "key minority" and the company's management team.This ensures they are up-to-date with the latest laws and regulations, enhancing their dutyperformance skills and compliance knowledge reserves, and promoting a comprehensiveimprovement in the company's overall governance level.
To maintain close alignment with regulatory policies, in 2024, a continuous tracking andfeedback mechanism for regulatory dynamics will be established. The company will collect, analyze,and timely transmit the latest regulatory information, and quarterly organize and interpret thelatest regulatory policies, market rules, and related laws and regulations. This information will becompiled and provided to the company's "key minority". Additionally, the company's managementteam will be educated on changes in regulatory policies and their impact on the company'sbusiness, understanding responsibilities in information disclosure, reporting of significant events,and insider information management. This will guide all staff to establish a complianceconsciousness, leading the company to achieve steady development on the basis of compliance.
Intuitive and Understandable,Globally Diverse: Enhancing Investor CommunicationsLooking towards 2024 and beyond, the company will continue to commit tobuilding closer and more efficient bridges of communication with investors, achievingdeeper understanding, trust, and cooperation between the company and its investors.This effort aims to genuinely protect investor rights and interests, creating a newsituation of shared value and mutual benefit.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Keeping Pace with Policy Steps to Ensure Ecient and Compliant Systems
Empowering Key Roles to Enhance Governance Capabilities
Integrating Regulato Dynamics to Solidify the Embankment of Development
Update and strengthen the implementation of new policies. On February 28, 2024, thecompany held the ninth meeting of its third board of directors, during which it reviewed andapproved revisions to nine governance systems, including the 《Constitution》, the 《WorkingSystem for Independent Directors》, the 《External Guarantee Management System》 and the《Implementation Rules for Related Party Transactions》. These revisions were made in response tothe governance rules for listed companies issued by the China Securities Regulatory Commission(CSRC) and the Shanghai Stock Exchange (SSE) in 2023. The company plans to hold its annualgeneral meeting on March 21, 2024, to approve the revised systems. In 2024, the company willstrengthen the internal training, dissemination, and execution inspection of the new systems toenhance the effectiveness of the company's system implementation.
In 2024, the company will also establish a mechanism for regular monitoring of new regulatoryrules to quickly respond to regulatory dynamics and revise and approve company systems in atimely manner following the issuance of new capital market regulations.
The "key minority" play a crucial role in company governance. In 2024, the company will notonly promptly relay statutory training organized by capital market regulatory departments but alsofully leverage resources from the CSRC, Shanghai Stock Exchange, Pujiang Lectures, ChinaAssociation for Public Companies and its training platforms, China Capital Market Institute, etc., toorganize online and offline training for the "key minority" and the company's management team.This ensures they are up-to-date with the latest laws and regulations, enhancing their dutyperformance skills and compliance knowledge reserves, and promoting a comprehensiveimprovement in the company's overall governance level.
To maintain close alignment with regulatory policies, in 2024, a continuous tracking andfeedback mechanism for regulatory dynamics will be established. The company will collect, analyze,and timely transmit the latest regulatory information, and quarterly organize and interpret thelatest regulatory policies, market rules, and related laws and regulations. This information will becompiled and provided to the company's "key minority". Additionally, the company's managementteam will be educated on changes in regulatory policies and their impact on the company'sbusiness, understanding responsibilities in information disclosure, reporting of significant events,and insider information management. This will guide all staff to establish a complianceconsciousness, leading the company to achieve steady development on the basis of compliance.
Intuitive and Understandable,Globally Diverse: Enhancing Investor Communications
Looking towards 2024 and beyond, the company will continue to commit tobuilding closer and more efficient bridges of communication with investors, achievingdeeper understanding, trust, and cooperation between the company and its investors.This effort aims to genuinely protect investor rights and interests, creating a newsituation of shared value and mutual benefit.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Information Disclosure Innovation:
Visualization, Simplication, and Internationalization in ParallelVisualization of Information DisclosureIn 2024, alongside the publication ofregular reports, the company will adopt visualformats such as performance briefings,graphic briefings, and short videos to interpretregular and temporary announcements.Through vivid and intuitive methods, theseefforts will help investors better understandthe company's operational results, financialstatus, and development strategy. Thecompany will release at least four "One Pictureto Understand" interpretations in 2024,providing a more direct understanding onregular reports.
Simplication of Professional TerminologyWhen drafting announcements, thecompany will avoid overly professionalterminology and use simple, easy-to-understand language to lower the readingdifficulty for investors.
Regular reports will include additionalcharts and data comparisons to makeinformation clearer and easier tounderstand.
The internationalization of informationdisclosure reflects the company's practiceof internationalization in the capital market.In 2024, the company will publish bilingualversions (Chinese and English) of the "OnePicture to Understand" for regular reportsand the Environmental, Social, andGovernance (ESG) Social ResponsibilityReport. This approach aims to showcase thecompany's financial status and businessoperations to global investors, strengthenconnections with international investors,and highlight the company's commitmentand efforts in sustainable development andsocial responsibility.
Auxilia Explanations through ChasInternationalization of Information Disclosure
Building Multi-level Communication Channels:
Achieving Multi-channel, Multi-platform, Multi-method Investor Relations Management
InvestorCommunication Platforms
InvestorCommunication
Channels
In 2024, the company plans to organize a series of investorrelations activities, including at least four investor receptiondays/performance briefings, led by the Chairman/President forinteractive exchanges with investors. The company will also activelyparticipate in strategy meetings organized by various sell-sideinstitutions for face-to-face discussions with different types ofinvestors. Based on investor needs, the company will arrange sitevisits, reverse roadshows, and other forms of investor communication,understanding investors' actual demands and responding promptly.Additionally, within two trading days, summaries of these researchactivities will be promptly posted on the Shanghai Stock Exchange'se-Interaction platform, truly reflecting the principle of respecting andprotecting investor rights and interests.
In 2024, the company will utilize online platforms such as theShanghai Stock Exchange's e-Interaction platform, Jinmen Finance,and Quanjing to build a multi-platform investor communicationplatform. Additionally, a "Investor Interaction" section will be added tothe company's WeChat official account, integrating the Willfar IRmini-program to deliver the latest announcements and information toinstitutional investors, analysts, and retail investors. A researchappointment function will be implemented to combine the publicaccount with digital investor relations, providing investors with faster,more convenient, and diverse channels of communication andestablishing a two-way communication bridge between investors andthe company. Questions from investors on the e-Interaction platformwill be responded to within two trading days.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Information Disclosure Innovation:
Visualization, Simplication, and Internationalization in Parallel
Visualization of Information Disclosure
In 2024, alongside the publication ofregular reports, the company will adopt visualformats such as performance briefings,graphic briefings, and short videos to interpretregular and temporary announcements.Through vivid and intuitive methods, theseefforts will help investors better understandthe company's operational results, financialstatus, and development strategy. Thecompany will release at least four "One Pictureto Understand" interpretations in 2024,providing a more direct understanding onregular reports.
Simplication of Professional Terminology
When drafting announcements, thecompany will avoid overly professionalterminology and use simple, easy-to-understand language to lower the readingdifficulty for investors.
Regular reports will include additionalcharts and data comparisons to makeinformation clearer and easier tounderstand.
The internationalization of informationdisclosure reflects the company's practiceof internationalization in the capital market.In 2024, the company will publish bilingualversions (Chinese and English) of the "OnePicture to Understand" for regular reportsand the Environmental, Social, andGovernance (ESG) Social ResponsibilityReport. This approach aims to showcase thecompany's financial status and businessoperations to global investors, strengthenconnections with international investors,and highlight the company's commitmentand efforts in sustainable development andsocial responsibility.
Auxilia Explanations through ChasInternationalization of Information Disclosure
Building Multi-level Communication Channels:
Achieving Multi-channel, Multi-platform, Multi-method Investor Relations Management
InvestorCommunication
Platforms
InvestorCommunication
Channels
In 2024, the company plans to organize a series of investorrelations activities, including at least four investor receptiondays/performance briefings, led by the Chairman/President forinteractive exchanges with investors. The company will also activelyparticipate in strategy meetings organized by various sell-sideinstitutions for face-to-face discussions with different types ofinvestors. Based on investor needs, the company will arrange sitevisits, reverse roadshows, and other forms of investor communication,understanding investors' actual demands and responding promptly.Additionally, within two trading days, summaries of these researchactivities will be promptly posted on the Shanghai Stock Exchange'se-Interaction platform, truly reflecting the principle of respecting andprotecting investor rights and interests.
In 2024, the company will utilize online platforms such as theShanghai Stock Exchange's e-Interaction platform, Jinmen Finance,and Quanjing to build a multi-platform investor communicationplatform. Additionally, a "Investor Interaction" section will be added tothe company's WeChat official account, integrating the Willfar IRmini-program to deliver the latest announcements and information toinstitutional investors, analysts, and retail investors. A researchappointment function will be implemented to combine the publicaccount with digital investor relations, providing investors with faster,more convenient, and diverse channels of communication andestablishing a two-way communication bridge between investors andthe company. Questions from investors on the e-Interaction platformwill be responded to within two trading days.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Deepening the Foundation in the Energy IoT Sector,Forging an Innovation-Driven Development EngineInnovation is in Willfar's gene, and growth is its pursuit. The company focuses on"four innovations": theoretical, practical, systemic, and cultural, as the core drivers ofdevelopment. By deeply cultivating the energy IoT field and creating new threeelements of "human capital, science and technology, and big data," Willfar aims toenhance its soft power, solidify its developmental foundation, and broaden itsprotective moat. Through technological innovation, it seeks to improve developmentquality, create new momentum, and establish new advantages.
Focusing on R&D in three major areas toempower the digitalization of sma grids and sma cities.In 2024, against the backdrop of global smart city construction and green, low-carbondevelopment, Willfar will target the State Grid's demand for "further strengthening theconstruction of a smart and robust grid" and the Southern Power Grid's plan for "continuouscoordination of traditional grid upgrades and deepening digital empowerment." The company willconcentrate on R&D in three key areas to speed up the innovation-to-market process.Advancing the Chip Strategy
Innovating IoT Application Layer Software Systems and Platforms
R&D in Emerging Technology Applications
Chips are a primary R&D focus for Willfar, addressing current needs in grid communicationtechnology. In 2023, the company achieved significant accomplishments in the chip sector,including winning the first prize in the China Electric Power Science and Technology Award.Building on the launch of a new generation of HPLC+HRF dual-mode communication chip modulesand units in 2023, the company will continue to escalate its R&D investment in chips andcommunication modules. Further efforts will be dedicated to optimizing key technologies for Wi-SUN local routing self-organizing networks and communication modules, addressing the timelyand efficient remote collection and analysis of data. This aims to facilitate a bidirectionalinteraction between energy flows and data flows, positioning the company as a leading supplier inthe overseas AMI (Advanced Metering Infrastructure) market.
Software, serving as the driving force behind technological innovation, represents the coretechnical capability of the company and is rapidly evolving towards networked, platform-based,and intelligent directions. In the future, the company will focus on increasing its R&D investment inIoT application layer software systems and platforms, targeting the global market. It will primarilyserve sectors such as smart grids under dual carbon requirements, smart fire protection, andintelligent water conservancy and water affairs, aiding customers in reducing costs, increasingefficiency, and achieving digital management.
The company will focus on enhancing the development of key AI technologies such as big dataanalysis, edge computing, and topology recognition, and deeply integrate them into the businessprocesses of smart grids and smart cities, aiming to replace or optimize traditional hardwaredevices with software solutions. By updating and upgrading intelligent algorithms for topologyrecognition, load forecasting, and visual monitoring, the company aims to drive the construction ofnew types of power systems.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Deepening the Foundation in the Energy IoT Sector,Forging an Innovation-Driven Development EngineInnovation is in Willfar's gene, and growth is its pursuit. The company focuses on"four innovations": theoretical, practical, systemic, and cultural, as the core drivers ofdevelopment. By deeply cultivating the energy IoT field and creating new threeelements of "human capital, science and technology, and big data," Willfar aims toenhance its soft power, solidify its developmental foundation, and broaden itsprotective moat. Through technological innovation, it seeks to improve developmentquality, create new momentum, and establish new advantages.
Focusing on R&D in three major areas toempower the digitalization of sma grids and sma cities.
In 2024, against the backdrop of global smart city construction and green, low-carbondevelopment, Willfar will target the State Grid's demand for "further strengthening theconstruction of a smart and robust grid" and the Southern Power Grid's plan for "continuouscoordination of traditional grid upgrades and deepening digital empowerment." The company willconcentrate on R&D in three key areas to speed up the innovation-to-market process.
Advancing the Chip Strategy
Innovating IoT Application Layer Software Systems and Platforms
R&D in Emerging Technology Applications
Chips are a primary R&D focus for Willfar, addressing current needs in grid communicationtechnology. In 2023, the company achieved significant accomplishments in the chip sector,including winning the first prize in the China Electric Power Science and Technology Award.Building on the launch of a new generation of HPLC+HRF dual-mode communication chip modulesand units in 2023, the company will continue to escalate its R&D investment in chips andcommunication modules. Further efforts will be dedicated to optimizing key technologies for Wi-SUN local routing self-organizing networks and communication modules, addressing the timelyand efficient remote collection and analysis of data. This aims to facilitate a bidirectionalinteraction between energy flows and data flows, positioning the company as a leading supplier inthe overseas AMI (Advanced Metering Infrastructure) market.
Software, serving as the driving force behind technological innovation, represents the coretechnical capability of the company and is rapidly evolving towards networked, platform-based,and intelligent directions. In the future, the company will focus on increasing its R&D investment inIoT application layer software systems and platforms, targeting the global market. It will primarilyserve sectors such as smart grids under dual carbon requirements, smart fire protection, andintelligent water conservancy and water affairs, aiding customers in reducing costs, increasingefficiency, and achieving digital management.
The company will focus on enhancing the development of key AI technologies such as big dataanalysis, edge computing, and topology recognition, and deeply integrate them into the businessprocesses of smart grids and smart cities, aiming to replace or optimize traditional hardwaredevices with software solutions. By updating and upgrading intelligent algorithms for topologyrecognition, load forecasting, and visual monitoring, the company aims to drive the construction ofnew types of power systems.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Deepen the integration of indust, academia,and research to tackle key core technologies,suppoing the achievement of dual carbon goals.
In 2024, the company will continue to actively promote the deep integration anddevelopment of industry-academia-research collaboration, gathering high-endintellect, achieving the sharing of scientific research resources, and encouraging theconvergence of various innovative elements towards enterprises to foster a deepintegration of industry, academia, research, and application. Currently, the companyhas initiated cooperative projects with national-level new research institutions andZhejiang University, aimed at the construction of new power systems. These projectsfocus on the development of specialized chips and intelligent terminals for powerdistribution and usage scenarios, supporting the comprehensive and preciseperception, local information processing, intelligent analytical decision-making, andsafe and efficient operation of smart power distribution networks. At the same time,the company will also collaborate with multiple universities to tackle key technologiesfor fault protection in active distribution networks, enhancing the safety of activedistribution network operations, ensuring the safe and reliable operation of large-scale distributed power sources, thereby supporting the national dual-carbonstrategic goals.
Continuously Focusing on" Corporate Value Enhancement" to ActivateNew Momentum forHigh-Quality DevelopmentIn today's rapidly changing market environment, the company deeply understandsthat "Corporate Value Enhancement" is not only a means of survival but also afoundation for development.
2024 marks a crucial year for Willfar's 5th five-year development strategy and itsdeepened push towards internationalization. The political and economic landscape ofthe world, as well as its growth momentum, have made the coming year full ofuncertainty. However, opportunities and risks, seeking development and peace, arestill the prevailing trends. Green environmental protection and dual-carbon goalsremain the common destiny of mankind. In such a changing era, the company believesthat only by "doing well by itself," using its internal certainty to deal with externaluncertainties, can it succeed.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Deepen the integration of indust, academia,and research to tackle key core technologies,suppoing the achievement of dual carbon goals.
In 2024, the company will continue to actively promote the deep integration anddevelopment of industry-academia-research collaboration, gathering high-endintellect, achieving the sharing of scientific research resources, and encouraging theconvergence of various innovative elements towards enterprises to foster a deepintegration of industry, academia, research, and application. Currently, the companyhas initiated cooperative projects with national-level new research institutions andZhejiang University, aimed at the construction of new power systems. These projectsfocus on the development of specialized chips and intelligent terminals for powerdistribution and usage scenarios, supporting the comprehensive and preciseperception, local information processing, intelligent analytical decision-making, andsafe and efficient operation of smart power distribution networks. At the same time,the company will also collaborate with multiple universities to tackle key technologiesfor fault protection in active distribution networks, enhancing the safety of activedistribution network operations, ensuring the safe and reliable operation of large-scale distributed power sources, thereby supporting the national dual-carbonstrategic goals.
Continuously Focusing on" Corporate Value Enhancement" to ActivateNew Momentum forHigh-Quality Development
In today's rapidly changing market environment, the company deeply understandsthat "Corporate Value Enhancement" is not only a means of survival but also afoundation for development.2024 marks a crucial year for Willfar's 5th five-year development strategy and itsdeepened push towards internationalization. The political and economic landscape ofthe world, as well as its growth momentum, have made the coming year full ofuncertainty. However, opportunities and risks, seeking development and peace, arestill the prevailing trends. Green environmental protection and dual-carbon goalsremain the common destiny of mankind. In such a changing era, the company believesthat only by "doing well by itself," using its internal certainty to deal with externaluncertainties, can it succeed.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Continuously and Actively Practicing " Corporate Value Enhancement"to Solidify the Path to High-Quality Development
In 2024, in terms of improving operational quality, the company will focus on thetheme of "stable progress and innovative development," adhere to increasing revenueand reducing costs, and implement the "three increases and three reductions":
increase contracts, increase collections, increase market share; reduce waste, reducebad receivables, reduce inventory with the risk of obsolescence and stagnation. Interms of risk prevention and performance improvement, risk prevention will beprioritized. We aim to continuously improve profit quality, ensuring that every revenuecomes from healthy business operations. At the same time, we will demand efficiencyand effectiveness from management, mastering the "arithmetic of businessoperations" by focusing on " Corporate Value and Return Enhancement" achieving abalanced and focused approach, planning before acting, and fully activating newmomentum for high-quality development.
In 2024, in terms of open source and efficiency enhancement, the company plansto: 1) Conduct a thorough analysis of both domestic and international political andeconomic situations as well as market opportunities,seize existing markets whileactively promoting the development of emerging markets. 2) In terms of projectexecution and delivery, ensure all projects are completed on time, with high qualityand efficiency, thereby providing top-notch service. 3) For technological innovationand application, continue to invest in research and development, and integration ofinnovations to enhance the competitiveness of IoT (Internet of Things) and futureconnectivity solutions. Actively align with global green development policies,contributing to the realization of China's new power systems, digital smart cities, andcarbon neutrality goals with Willfar's strength.
Fully Advancing Internationalization to ActivateNew Momentum for High-Quality Development
New Quality Productivity Capacity Outputand International Cooperation
Against the backdrop of digitalization and intelligentization, the company willkeep pace with industry trends, understand customer needs, and commit to providingcustomers with superior system solutions and services. While continuing to deepen itsefforts in the smart grid sector, it will expand into smart cities, overseas markets, andthe chip sector.In 2024, the company will make great effort to promote its internationalizationstrategy, focusing on international market thinking, institutional building, andmanagement teams, to implement its transformation and development. According tomarket demand, the company will transform from a simple export model to a localizedproduction and sales model planned overseas, expanding its global market coverage.This strategy aims to deepen understanding of local market demands, enhance thebrand's influence in local markets, cultivate a professional team with an internationalperspective and cross-cultural communication skills, strengthen its competitivenessin the international market, and activate new momentum for high-qualitydevelopment.
Willfar Information possesses a wealth of technological talent and innovativeresources that support the research, development, and application of newtechnologies. Meanwhile, with a strong foundation in the manufacturing of powerdistribution equipment, and IoT devices, it has a comprehensive production systemand supply chain network capable of quickly responding to market demands andmass-producing high-quality new technology products.
In terms of international new quality productivity capacity output, WillfarInformation has planned investments in several overseas smart factories and is also indiscussions with multiple partners about capacity building project outputs. Utilizingsolutions such as automated manufacturing schemes, cloud computing services, bigdata analysis services, and artificial intelligence algorithm services, it aims to exportsmart factory construction plans in various manufacturing fields, including watermetering devices, energy efficiency management devices, communication modulesand equipment, and distribution network equipment manufacturing. CombiningWillfar Information's talent resources and supply chain network, the company aims toachieve digital transformation and innovative development for both its own factoriesand those of its partners, promoting Willfar Information's global market presence,products, technology, and capacity cooperation for mutual development and success.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
Continuously and Actively Practicing " Corporate Value Enhancement"to Solidify the Path to High-Quality Development
In 2024, in terms of improving operational quality, the company will focus on thetheme of "stable progress and innovative development," adhere to increasing revenueand reducing costs, and implement the "three increases and three reductions":
increase contracts, increase collections, increase market share; reduce waste, reducebad receivables, reduce inventory with the risk of obsolescence and stagnation. Interms of risk prevention and performance improvement, risk prevention will beprioritized. We aim to continuously improve profit quality, ensuring that every revenuecomes from healthy business operations. At the same time, we will demand efficiencyand effectiveness from management, mastering the "arithmetic of businessoperations" by focusing on " Corporate Value and Return Enhancement" achieving abalanced and focused approach, planning before acting, and fully activating newmomentum for high-quality development.
In 2024, in terms of open source and efficiency enhancement, the company plansto: 1) Conduct a thorough analysis of both domestic and international political andeconomic situations as well as market opportunities,seize existing markets whileactively promoting the development of emerging markets. 2) In terms of projectexecution and delivery, ensure all projects are completed on time, with high qualityand efficiency, thereby providing top-notch service. 3) For technological innovationand application, continue to invest in research and development, and integration ofinnovations to enhance the competitiveness of IoT (Internet of Things) and futureconnectivity solutions. Actively align with global green development policies,contributing to the realization of China's new power systems, digital smart cities, andcarbon neutrality goals with Willfar's strength.
Fully Advancing Internationalization to ActivateNew Momentum for High-Quality Development
New Quality Productivity Capacity Outputand International Cooperation
Against the backdrop of digitalization and intelligentization, the company willkeep pace with industry trends, understand customer needs, and commit to providingcustomers with superior system solutions and services. While continuing to deepen itsefforts in the smart grid sector, it will expand into smart cities, overseas markets, andthe chip sector.
In 2024, the company will make great effort to promote its internationalizationstrategy, focusing on international market thinking, institutional building, andmanagement teams, to implement its transformation and development. According tomarket demand, the company will transform from a simple export model to a localizedproduction and sales model planned overseas, expanding its global market coverage.This strategy aims to deepen understanding of local market demands, enhance thebrand's influence in local markets, cultivate a professional team with an internationalperspective and cross-cultural communication skills, strengthen its competitivenessin the international market, and activate new momentum for high-qualitydevelopment.
Willfar Information possesses a wealth of technological talent and innovativeresources that support the research, development, and application of newtechnologies. Meanwhile, with a strong foundation in the manufacturing of powerdistribution equipment, and IoT devices, it has a comprehensive production systemand supply chain network capable of quickly responding to market demands andmass-producing high-quality new technology products.
In terms of international new quality productivity capacity output, WillfarInformation has planned investments in several overseas smart factories and is also indiscussions with multiple partners about capacity building project outputs. Utilizingsolutions such as automated manufacturing schemes, cloud computing services, bigdata analysis services, and artificial intelligence algorithm services, it aims to exportsmart factory construction plans in various manufacturing fields, including watermetering devices, energy efficiency management devices, communication modulesand equipment, and distribution network equipment manufacturing. CombiningWillfar Information's talent resources and supply chain network, the company aims toachieve digital transformation and innovative development for both its own factoriesand those of its partners, promoting Willfar Information's global market presence,products, technology, and capacity cooperation for mutual development and success.
WillfarInformationTechnologyCo.,Ltd.CorporateValueandReturnEnhancementActionPlan2024
The " Corporate Value and Return Enhancement" action plan is based on thecurrent situation of the company and is subject to judgments that may beinfluenced by policy adjustments, domestic and international marketenvironments, and other factors, leading to certain uncertainties. Investors areadvised to invest cautiously and be attention to investment risks.
The company will continue to assess and implement measures related tothe "Corporate Value and Return Enhancement" action plan. By striving forstrong performance, standardized corporate governance, and positiveinvestor returns, the company aims to fulfill the responsibilities andobligations of a listed company and reward investors' trust.
Web：https://www.willfar.com/ https://en.willfar.com/Tel：0731-88619798
Willfar Information Technology Co., Ltd.Corporate Value and Return EnhancementAction Plan 2024
Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China
Willfar Information Technology Co., Ltd
Stock Code:688100