NJTC(601975)2025-03-24 11:05Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of CNY 1,921,078,800.31 for the year 2024[7]. - The parent company reported a net profit of CNY 907,565,728.65 for 2024, with undistributed profits of CNY -1,574,105,638.87[7]. - The company's operating revenue for 2024 reached ¥6,475,269,037.63, representing a 4.50% increase compared to ¥6,196,600,296.92 in 2023[24]. - Net profit attributable to shareholders was ¥1,921,078,800.31, a significant increase of 23.38% from ¥1,557,019,557.14 in the previous year[24]. - The basic earnings per share for 2024 was ¥0.3995, reflecting a 24.49% increase from ¥0.3209 in 2023[25]. - The total assets of the company at the end of 2024 amounted to ¥12,926,989,064.34, a 10.98% increase from ¥11,647,545,698.50 in 2023[24]. - The total profit for the year was 2.247 billion RMB, with a net profit attributable to shareholders of 1.921 billion RMB[51]. - The company reported a revenue of 1.2 billion yuan for the fiscal year 2024, representing a year-over-year increase of 15%[96]. Profit Distribution - Due to negative undistributed profits, the company will not distribute profits or increase capital reserves in 2024[7]. - As of the end of 2024, the company's undistributed profits amounted to CNY 1,830,223,960.74[7]. - The company reported a cumulative cash dividend amount of 0 over the last three fiscal years[127]. - The cash dividend ratio over the last three fiscal years was 9.16%[127]. Operational Efficiency - The net cash flow from operating activities for 2024 was ¥2,484,459,073.08, slightly up by 1.00% from ¥2,459,930,309.80 in 2023[24]. - The operating cost increased by 4.99% to 4.370 billion RMB, while the financial expenses decreased significantly by 176.87% due to reduced interest-bearing debt[52][53]. - The overall operational cost is projected to decrease by 8% due to efficiency improvements and cost-cutting measures[96]. - The company has established a performance evaluation mechanism for senior management, which includes clear performance indicators and standards[129]. Fleet and Assets - The company operated 75 vessels by the end of 2024, with a total deadweight tonnage of 2.8584 million tons[44]. - The company has 10 vessels under construction, with a total deadweight tonnage of 488,500 tons[45]. - The company is actively expanding its fleet and service capabilities through new shipbuilding contracts and renewals with key industry players[175][177]. - The company has a total of 726 contracted workers, including 9 shore staff and 717 crew members[119]. Market and Industry Trends - Domestic refined oil consumption fell to 390 million tons in 2024, a year-on-year decline of 1.7%, impacting the demand for refined oil transportation[35]. - China's crude oil imports in 2024 totaled 553 million tons, a decrease of 10.57 million tons year-on-year[36]. - The company anticipates a decline in the international refined oil transportation market by 2025, while the crude oil transportation market is expected to remain stable[79]. Governance and Compliance - The company has established a governance structure that ensures independent operation and decision-making, with a board consisting of 9 members, including 3 independent directors[85]. - The company has maintained a high level of transparency and compliance with legal regulations regarding information disclosure[87]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[87]. - The company is focusing on compliance management system construction as part of its 2023 annual report[105]. Environmental Initiatives - The company invested ¥78.40 million in environmental protection measures during the reporting period[134]. - The carbon intensity of the company's managed vessels decreased by 4.52% in 2024[137]. - The company implemented energy-saving technologies, resulting in a 6.5% reduction in average fuel consumption for vessels[140]. - The company has installed ballast water treatment systems on 100% of its international shipping vessels[138]. Strategic Plans - The company aims to enhance its core competitiveness by focusing on a diversified business model that includes both domestic and international trade in liquid cargo transportation[43]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 300 million yuan allocated for potential deals[97]. - The company plans to enhance its market competitiveness by optimizing its fleet management and expanding into new markets and clients[82]. Shareholder Information - The largest shareholder, China Yangtze Shipping Group Co., Ltd., holds 1,416,324,783 shares, representing 29.50% of the total shares[195]. - The total number of common shareholders increased from 127,921 to 128,319 during the reporting period[194]. - The company has not reported any changes in the controlling shareholder during the reporting period[199]. Risk Management - The company has outlined various operational risks and corresponding mitigation strategies in the report[10]. - The company is facing risks from economic downturns, transportation price fluctuations, and potential impacts from the US Section 301 investigation against China[82][83]. - The company has committed to resolving potential competition risks by June 2020 through measures such as internal business integration and asset divestiture[148].