ACC(600585)2025-03-25 00:45Financial Performance - The company's net revenue for 2024 was CNY 91,029,615, a decrease of 35.51% compared to CNY 141,157,207 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY 8,051,954, down 24.5% from CNY 10,686,594 in 2023[21]. - The basic earnings per share for 2024 was CNY 1.46, a decline of 25.90% from CNY 1.97 in 2023[22]. - The operating cash flow for 2024 was CNY 18,476,253, a decrease of 7.96% compared to CNY 20,074,156 in 2023[22]. - The company reported a total profit of CNY 10,029,189 for 2024, down 26.22% from CNY 13,594,052 in 2023[22]. - The net profit after deducting non-recurring gains and losses for 2024 was CNY 7,364,704, a decrease of 26.06% from CNY 9,960,488 in 2023[22]. - The weighted average return on equity for 2024 was 4.14%, down from 5.64% in 2023[22]. - The company's total revenue for the reporting period was 74.16 billion yuan, a decrease of 14.18% compared to the previous year[49]. - The net sales volume of cement and clinker was 271 million tons, down 7.46% year-on-year[45]. - The company's operating profit was 9.71 billion yuan, a decrease of 26.03% compared to the previous year[49]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.71 per share (including tax) for the 2024 fiscal year[5]. - The company distributed a cash dividend of 0.96 CNY per share, totaling approximately 5.07 billion CNY, to shareholders based on the total shares issued[95]. - For the fiscal year 2024, the company proposes a final dividend of 0.71 CNY per share, amounting to approximately 374.67 million CNY, which represents 48.68% of the net profit attributable to ordinary shareholders[97]. - The company will not allocate any statutory reserve for the fiscal year 2024, as the statutory reserve has already reached over 50% of the registered capital[96]. - The cumulative cash dividend amount for the last three fiscal years (including tax) is approximately CNY 16.66 billion[101]. - The cumulative cash dividend and repurchase amount for the last three fiscal years is CNY 16.66 billion, with an average net profit attributable to ordinary shareholders of CNY 11.27 billion, resulting in a cash dividend ratio of 147.83%[101]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young[5]. - The board of directors and management have ensured the accuracy and completeness of the financial report[4]. - The company has confirmed that there are no violations of decision-making procedures for external guarantees[7]. - The company has not faced any situations where more than half of the directors cannot guarantee the authenticity of the report[8]. - The company emphasizes compliance with the Shanghai Stock Exchange listing rules and will fulfill information disclosure obligations regarding the investment funds[90]. - The audit committee reviewed the 2023 annual financial statements and approved the submission to the board for review[177]. - The audit committee evaluated KPMG's performance in conducting the 2023 audit, affirming adherence to auditing standards[177]. - Ernst & Young Huaming audited the effectiveness of the internal control over the financial report as of December 31, 2024, and issued a standard unqualified opinion[186]. Environmental and Social Responsibility - The company has outlined its commitment to environmental and social responsibilities in its governance report[19]. - The company is committed to low-carbon and green development, actively promoting ultra-low emissions and energy-saving transformations, which may increase production costs[67]. - The company has established a comprehensive monitoring system for pollutant discharge across its facilities[196]. - The company has implemented measures to ensure that all emissions remain below the regulatory thresholds, demonstrating commitment to environmental standards[198]. - The company continues to monitor and manage emissions effectively, ensuring sustainable operations[198]. Market Strategy and Expansion - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[21]. - The company plans to complete the construction of its Cambodia project by February 2025, further expanding its international presence[41]. - The company aims to enhance its international development by leveraging overseas offices to explore suitable project opportunities in emerging markets[65]. - The company is focusing on digital transformation and green technology integration to enhance its core competitiveness[37]. - The company will focus on expanding its market presence and improving product and service quality to address potential demand volatility[66]. Corporate Governance - The company has maintained a governance structure that ensures independent operation and decision-making across its various departments and functions[113]. - The company has a strong focus on corporate governance, with key executives holding multiple positions in related entities[122][123]. - The company is committed to maintaining high standards of corporate governance and transparency in its operations[136]. - The board of directors consists of 8 members, including 3 independent non-executive directors, with a gender diversity of 6 males and 2 females[173]. - The remuneration and nomination committee is responsible for formulating compensation policies and evaluating executive performance[171]. Employee and Management Information - The company has a total of 49,397 employees, with 28,490 in production, 2,098 in sales, and 12,559 in technical roles, indicating a diverse workforce[148]. - The highest paid executive, Li Qunfeng, received a pre-tax remuneration of CNY 1,941,695, while the total remuneration for all executives amounted to CNY 12,767,125[144][145]. - The company has implemented a performance-based salary system for mid-level management, linking annual income to key performance indicators[151]. - The group has trained over 1,500 employees through various specialized training programs during the reporting period[152]. - The company has a gender distribution of approximately 84.8% male and 15.2% female employees, reflecting its workforce composition[148]. Investment and Financial Management - The company has committed CNY 1,760,112,039 to subscribe for shares in Western Construction, pending regulatory approval[80]. - The company has invested CNY 16 billion in the New Materials Industry Investment Fund, which has a total size of CNY 150 billion[84]. - The company has completed the necessary registrations for the Industrial Internet Mother Fund with the relevant authorities[88]. - The company has established a policy for shareholder communication, which has been effectively implemented during the reporting period[190]. - The company has established an internal control system that includes a controlled management system to continuously identify, assess, and manage significant risks[185].