Financial Performance - Sales volume increased by approximately 18.3%[2] - Revenue rose by approximately 4.9% to RMB 59,496.4 million, primarily due to the increase in sales volume for the fiscal year 2024[2] - Gross profit surged by approximately 273.2% to RMB 5,711.5 million[2] - Profit attributable to equity holders of the company for the fiscal year 2024 was approximately RMB 750.7 million[2] - Basic earnings per share for the fiscal year 2024 were approximately RMB 0.16[2] - The company reported a total comprehensive income of RMB 523.4 million for the fiscal year 2024, compared to a loss of RMB 2,275.1 million in the previous year[5] - The company reported a net profit of RMB 793,890 thousand for the year ending June 30, 2024, compared to a net loss of RMB (2,370,839) thousand in the previous year, indicating a significant turnaround[9] - The operating profit for fiscal year 2024 was approximately RMB 2,645.1 million, a turnaround from an operating loss of RMB 1,595.2 million in fiscal year 2023[48] - The company's net profit attributable to equity holders for fiscal year 2024 was approximately RMB 750.7 million, compared to a net loss of RMB 2,383.4 million in fiscal year 2023[51] Assets and Liabilities - Total assets increased to RMB 138,371.5 million from RMB 120,651.0 million year-on-year[8] - Non-current assets, including property, plant, and equipment, rose to RMB 95,462.9 million from RMB 86,557.2 million[7] - Total liabilities increased to RMB 89,887.0 million from RMB 75,514.6 million year-on-year[8] - Long-term bank and other loans increased to RMB 52,326.7 million as of June 30, 2024, compared to RMB 43,180.7 million in the previous year[37] - The company’s total loans reached RMB 67,179.1 million, an increase from RMB 56,773.3 million in the previous year[37] Cash Flow and Expenses - Cash and cash equivalents stood at RMB 10,560.7 million, compared to RMB 10,317.5 million in the previous year[7] - The company reported a net cash outflow from operating activities of RMB (794,199) thousand, a significant decrease from RMB 6,924,487 thousand in the previous year[9] - Financial expenses increased to RMB (1,568,765) thousand from RMB (1,288,915) thousand, indicating a rise of approximately 21.7% year-over-year[16] - The company incurred operating expenses of RMB 48,463,322 thousand for raw materials and consumables, compared to RMB 45,959,412 thousand in the previous year, which is an increase of approximately 5.5%[15] - The total interest and financing costs rose from RMB 2,035.8 million in the previous fiscal year to approximately RMB 2,317.0 million in the current fiscal year[58] Inventory and Receivables - The company’s total inventory as of June 30, 2024, was RMB 10,169,308,000, an increase from RMB 8,855,674,000 in the previous year[30] - The inventory level rose by approximately 14.8% to about RMB 10,169.3 million as of June 30, 2024, with raw materials accounting for approximately RMB 6,303.8 million[52] - As of June 30, 2024, accounts receivable and notes receivable amounted to RMB 8,482.3 million, an increase of approximately 90.2% compared to RMB 4,460.1 million as of June 30, 2023[53] - Accounts receivable from trade increased to RMB 3,565.7 million as of June 30, 2024, up from RMB 3,086.4 million the previous year[32] Corporate Governance - The board of directors consists of eight executive directors and four independent non-executive directors[66] - The company is led by Chairwoman Zhang Yin[66] - The company emphasizes its commitment to corporate governance[66] - The board composition reflects a balance between executive and independent oversight[66] - The company aims to enhance transparency and accountability[66] Strategic Initiatives - The company is focused on expanding its market presence in the packaging paper and specialty paper sectors, leveraging its production capabilities to enhance revenue growth[10] - The company plans to increase its annual production capacity by 3.70 million tons for white card paper and cultural paper, with completion expected between Q3 2024 and Q2 2025[42] - The company has ongoing expansion projects, including a new pulp production capacity of 1.10 million tons in Beihai, Guangxi, expected to be completed in Q3 2024[40] - The company plans to balance production and sales while enhancing technological innovation and resource integration to provide differentiated high-quality products[59] Dividends - The company did not recommend a final dividend for the year ended June 30, 2024, consistent with no dividend declared in the previous year[26] - The company has decided not to declare any interim or final dividends for the fiscal year ending June 30, 2024[60] Market Performance - The company reported a significant sales volume increase of 18.3% year-on-year, with total sales revenue rising by 4.9% to RMB 59,496.4 million[39] - Sales of packaging paper reached RMB 54,609,046 thousand, up from RMB 51,009,294 thousand, reflecting an increase of about 5.1% year-over-year[14] - The company's sales revenue for the fiscal year 2024 was approximately RMB 59,496.4 million, an increase of about 4.9% compared to fiscal year 2023[43] - The sales volume reached approximately 19.6 million tons, an increase of about 18.3% from 16.6 million tons in fiscal year 2023[43]
玖龙纸业(02689) - 2024 - 年度业绩