ANDRE JUICE(SH:605198)2025-03-26 11:05Financial Performance - The company's operating revenue for 2024 reached approximately RMB 1.42 billion, representing a 61.85% increase compared to RMB 876.10 million in 2023[23]. - Net profit attributable to shareholders for 2024 was approximately RMB 260.70 million, a slight increase of 2.03% from RMB 255.52 million in 2023[23]. - The net profit after deducting non-recurring gains and losses was approximately RMB 260.89 million, reflecting a 12.86% increase from RMB 231.17 million in 2023[23]. - The company's total assets as of the end of 2024 were approximately RMB 2.78 billion, a 6.48% increase from RMB 2.61 billion at the end of 2023[23]. - The net assets attributable to shareholders increased to approximately RMB 2.65 billion, up 4.59% from RMB 2.53 billion in 2023[23]. - Basic earnings per share for 2024 increased to CNY 0.75, a 5.63% rise from CNY 0.71 in 2023[24]. - Diluted earnings per share for 2024 also stood at CNY 0.75, reflecting a 5.63% increase compared to the previous year[24]. - Gross profit for 2024 was RMB 351,534,180, with a gross margin of 24.79%, down from a gross margin of 32.99% in 2023 due to increased shipping costs and a slight decline in product prices[48]. - Operating costs for 2024 were RMB 1,066,452,818, reflecting an 81.66% increase from RMB 587,063,933 in the previous year, primarily due to increased sales volume and shipping costs[50]. - The cash flow from sales of goods and services increased to ¥1,395,082,669.70 in 2024, a rise of 30.24% compared to ¥1,071,197,213.29 in 2023[68]. Production and Capacity Expansion - The company expanded its production capacity by acquiring assets in Shaanxi province, increasing its operational footprint to 10 factories across 7 provinces[30]. - The company plans to build a new production line for 7,200 tons of decolorized and deacidified concentrated juice, alongside a project for 12,000 tons of NFC juice[30]. - The company established 10 juice processing bases and has 20 production lines, positioning itself among the top in the industry in terms of processing capacity and scale[47]. - The company expanded its production capabilities in 2023 by adding a new production line for concentrated peach juice (40 tons) and concentrated hawthorn juice (10 tons) in Yongji[47]. - The actual production capacity for concentrated juice was 494 tons per hour, compared to a designed capacity of 740 tons per hour[73]. Market and Product Development - The company aims to enhance its market share and customer base through improved product quality and customer service[31]. - The company has expanded its product line to include various juices such as NFC apple juice, peach juice, and tomato juice, responding to consumer demand for healthier and more diverse options[41]. - The company is positioned to benefit from the growing demand for apple juice in developing countries, particularly in markets like China, Russia, and India[38]. - The company is currently developing new processing technologies for apple juice, aiming to enhance nutritional processing systems[66]. - The company plans to expand its product line to include decolorized and deacidified concentrated juices, NFC juices, and other fruit juices[89]. Risks and Challenges - The company faces risks related to the supply of key raw materials, reliance on a single product, and exchange rate fluctuations, which are detailed in the management discussion section[9]. - Apple raw material costs account for approximately 70% of the production costs of concentrated apple juice, making it a significant risk factor for the company's operations[93]. - The company is exposed to foreign exchange risks due to its domestic operations in RMB and export transactions primarily in USD, and it monitors foreign currency transactions to mitigate these risks[96]. Governance and Management - The company held three shareholder meetings, eleven board meetings, and ten supervisory meetings during the reporting period, ensuring effective governance[99]. - The company has committed to timely and accurate information disclosure in compliance with relevant regulations, enhancing transparency for investors[100]. - The company has established a governance structure with representatives from various sectors to ensure comprehensive oversight[109]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 2.7683 million yuan (before tax)[113]. - The company has implemented a performance appraisal management system to align salary levels with market competitiveness[129]. Environmental and Social Responsibility - The company invested approximately ¥1,557.12 million in environmental protection during the reporting period[142]. - The company has constructed wastewater treatment facilities for its subsidiaries, ensuring compliance with environmental standards[146]. - The company is committed to enhancing resource efficiency and promoting green practices as part of its long-term strategy[153]. - The company annually purchases a large volume of non-commercial fruits, supporting local farmers and creating job opportunities in the community[156]. Shareholder and Capital Management - The board approved a proposal for a profit distribution plan for the year 2023[116]. - The company plans to issue A-shares to specific investors, which may dilute immediate returns, with measures in place to compensate for this dilution[103]. - The company plans to authorize the board to repurchase up to 10% of its issued H shares[116]. - The company has outlined a shareholder return plan for the next three years (2024-2026) during the shareholder meeting[103]. - The number of shareholders increased from 4,506 to 6,451, indicating a growing investor interest[185].