卓越新能(688196) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥3,563,325,220.13, representing a 26.73% increase compared to ¥2,811,721,948.54 in 2023[23]. - Net profit attributable to shareholders for 2024 was ¥149,018,836.41, an increase of 89.57% from ¥78,610,773.22 in 2023[23]. - The net profit after deducting non-recurring gains and losses was ¥134,852,309.83, up 24.80% from ¥108,055,606.34 in the previous year[23]. - The company's total assets increased by 16.30% to ¥3,566,311,420.24 at the end of 2024, compared to ¥3,066,356,254.44 at the end of 2023[24]. - The net assets attributable to shareholders rose to ¥2,792,727,739.09, a 4.20% increase from ¥2,680,255,609.91 in 2023[24]. - Basic earnings per share for 2024 were ¥1.24, reflecting an increase of 87.88% from ¥0.66 in 2023[25]. - The cash flow from operating activities for 2024 was ¥118,848,954.33, a significant recovery from a negative cash flow of ¥322,772,806.42 in 2023[23]. - The company reported a quarterly revenue of ¥1,063,824,182.76 in Q2 2024, showing strong performance in the mid-year[26]. - The net profit attributable to shareholders in Q3 2024 was negative at -¥8,812,653.98, indicating challenges faced during that quarter[27]. - The sales volume of biodiesel increased by 6.83%, with sales prices rising by 21.82%, contributing to the overall revenue growth[81]. Research and Development - The company's R&D expenditure as a percentage of operating revenue decreased to 3.39% from 5.30% in the previous year[25]. - The company invested CNY 120.6487 million in R&D in 2024, focusing on innovations in waste oil processing and digital upgrades, resulting in 19 authorized patents[36]. - Total R&D expenditure for the year was approximately ¥120.65 million, a decrease of 19.03% from the previous year, with R&D expenditure as a percentage of revenue dropping from 5.30% to 3.39%[59]. - The number of R&D personnel has decreased from 129 to 124, while the proportion of R&D staff in the total workforce increased from 19.88% to 20.33%[65]. - The average salary of R&D personnel is CNY 134,949.05, showing a slight increase from the previous period[65]. - The company is actively developing new technologies for biodiesel production, including a targeted removal technology for waste oil and a new catalyst for biomass fuel[62]. Corporate Governance - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[9]. - The company does not have any special arrangements for corporate governance[10]. - The company has established a governance structure that includes a board of directors with 7 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[111]. - The company held 2 shareholder meetings during the reporting period, ensuring all shareholders, especially minority shareholders, could exercise their rights[110]. - The company maintains strict independence from its controlling shareholder, ensuring a complete and independent business system[110]. - The company has a clear and transparent decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[139]. Market Expansion and Strategy - The company established a regional headquarters in Saudi Arabia to enhance cooperation in the Middle East and expanded its market presence in non-EU regions[35]. - The company is actively expanding overseas channels, with significant investments in establishing biodiesel production bases in Singapore and Thailand[74]. - The company plans to leverage its international presence and brand advantages to navigate challenges in the market restructuring phase by 2025[108]. - Market expansion plans include entering three new international markets by the end of 2024, aiming for a 10% market share in each[118]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of acquiring two companies within the next year[118]. Environmental and Social Responsibility - The company emphasizes sustainable development by producing biodiesel and bio-based materials from waste oil resources[107]. - The company has invested approximately 11.73 million yuan in environmental protection during the reporting period[152]. - The company has established a mechanism for environmental protection and has not been listed as a key pollutant discharge unit by environmental authorities[153]. - The company has achieved compliance with environmental standards for wastewater, waste gas, and noise emissions, meeting both regulatory inspections and self-monitoring targets[158]. - The company donated ¥95.39 million to support women's care, education, and community sports activities[168]. Financial Management - The company plans to distribute a cash dividend of 5.00 CNY per 10 shares, totaling 60,000,000.00 CNY (including tax) based on a total share capital of 120,000,000 shares as of December 31, 2024[7]. - The cumulative cash dividend amount over the last three accounting years is 278,400,000.00 RMB, with an average annual net profit of 226,452,822.15 RMB, resulting in a cash dividend ratio of 122.94%[143]. - The company has a total of RMB 128,790.00 million in raised funds, with RMB 120,089.62 million utilized by the end of the reporting period[197]. - The company has bank wealth management products with a total amount of RMB 129,698.00 million, of which RMB 27,547.39 million remains unexpired[194]. - The company has a total of RMB 89,460.00 million in bank wealth management products with an annualized return rate of 1.66%[194]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[4]. - The company is committed to continuous R&D investment and improving its supply chain to address potential risks in export business and market competition[74]. - The company is facing challenges due to the EU's anti-dumping measures, with a potential tax rate of 23.4% applicable to its products starting February 12, 2025[52]. - The European carbon border adjustment mechanism (CBAM) will fully impose a "carbon tariff" starting in 2027, impacting the biodiesel market[53]. Audit and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[6]. - The current audit firm, Rongcheng Accounting Firm, has been engaged for 6 years with an audit fee of 670,000 RMB[187]. - The internal control audit firm is also Rongcheng Accounting Firm, with a fee of 200,000 RMB[187]. - The company has not faced any penalties from securities regulatory authorities in the past three years[123]. - There are no significant lawsuits or arbitration matters reported for the current year[188].