Adisseo(600299)2025-02-27 13:00Financial Performance - The net profit attributable to shareholders for the year 2024 is RMB 1,204,325,915[7]. - The total distributable profit for the parent company as of December 31, 2024, is RMB 998,212,697[7]. - The proposed cash dividend is RMB 1.2 per 10 shares, totaling RMB 321,828,152.76, which is subject to approval at the annual general meeting[7]. - The total expected cash dividend for 2024 is RMB 482,742,229.14, accounting for 40.08% of the net profit attributable to shareholders[8]. - The company's operating revenue for 2024 reached CNY 15.53 billion, a 17.83% increase from CNY 13.18 billion in 2023[26]. - Net profit attributable to shareholders surged to CNY 1.20 billion, marking a significant increase of 2,208.66% compared to CNY 52.17 million in the previous year[26]. - The diluted earnings per share for 2024 were CNY 0.45, a remarkable increase of 2,150.00% from CNY 0.02 in 2023[27]. - The company's net cash flow from operating activities was RMB 2,944,669,481, a 6.53% increase from the previous year[77]. - Operating costs increased to RMB 10,840,773,006, reflecting a rise of 4.59% year-on-year[77]. - The gross profit margin for the nutrition and health industry was 30.21%, an increase of 9 percentage points compared to the previous year[79]. Dividends and Shareholder Returns - The company plans to distribute an interim cash dividend of RMB 0.6 per 10 shares, totaling an estimated RMB 160,914,076.38, approved at the first extraordinary general meeting in February 2025[7]. - The company paid dividends of RMB 160,914,076 in 2024[93]. - The company has a long-term dividend policy adjustment in place, aiming to enhance shareholder returns over the next three years (2024-2026)[180]. Acquisitions and Market Position - The company completed the acquisition of Nor-Feed, a French group specializing in plant-based specialty ingredients for animal feed, in February 2023[16]. - The acquisition of FRAmelco and Nor-Feed has strengthened the company's leadership in the rapidly growing "nutrition promotes health" market[41]. - The company has a strong market position as a leading supplier of liquid methionine and aims to become the largest methionine producer globally[41]. Research and Development - The company plans to continue investing in R&D and operational efficiency to support future business growth despite increased costs in these areas[28]. - Research and development expenses totaled RMB 562,662,650, accounting for 3.62% of operating revenue[89]. - The newly established R&D innovation center in China has been operational since early 2022, providing strong technical support for the company's business[52]. - The company received over 70 applications for its new R&D fund (ARG) in 2024, aimed at addressing major challenges in the feed industry, including sustainability and antibiotic bans[71]. Sustainability and Environmental Impact - The company achieved a 40% reduction in greenhouse gas emissions compared to 2015 levels, surpassing its 2025 target[43]. - The company is committed to sustainable development, aligning its goals with international standards such as the Paris Agreement and the UN Sustainable Development Goals[44]. - The company is focusing on reducing production costs and carbon footprint through ongoing improvements in methionine production processes[52]. - The company is committed to sustainable production methods, which is increasing the demand for optimal feed solutions including amino acids and probiotics[137]. Operational Efficiency and Cost Management - The company achieved a reduction in regular operating costs totaling CNY 179 million for the year 2024, contributing to improved profitability[28]. - The company is focusing on enhancing feed efficiency and reducing costs through enzyme products and emulsifiers, supporting overall production performance and sustainability[60]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[186]. Market Expansion and Growth Strategy - The company aims to enhance its product management by categorizing its offerings into functional and specialty products starting in 2024[80]. - The company is actively seeking external acquisition opportunities to accelerate growth and expand its product portfolio in the specialty products and animal nutrition health sectors[141]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[188]. Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[11]. - The company faces risks from supply-demand imbalances in the methionine market, influenced by global capacity changes and external factors[151]. - Andy Su's operations are subject to industrial risks, including potential civil and environmental liabilities related to its production processes[159]. Corporate Governance - The company adheres to corporate governance standards, ensuring compliance with legal requirements and protecting shareholder interests[177]. - The company has established four specialized committees under the board, including an audit committee and a strategic and sustainable development committee[178]. - The company has emphasized the importance of independent directors' participation in board meetings, ensuring governance and oversight[200].