Der(002631)2025-04-18 14:35Financial Performance - The company's operating revenue for 2024 was ¥1,524,841,143.11, a decrease of 21.11% compared to ¥1,932,953,617.13 in 2023[20]. - The net profit attributable to shareholders for 2024 was a loss of ¥89,521,521.50, representing a decline of 381.85% from a profit of ¥31,762,019.28 in 2023[20]. - The cash flow from operating activities for 2024 was ¥85,048,602.07, down 57.56% from ¥200,384,636.81 in 2023[20]. - The total assets at the end of 2024 were ¥3,742,356,609.49, a decrease of 19.30% from ¥4,637,100,264.88 at the end of 2023[20]. - The net assets attributable to shareholders increased by 24.82% to ¥2,258,076,240.45 at the end of 2024, compared to ¥1,809,051,453.72 at the end of 2023[20]. - The basic earnings per share for 2024 was -¥0.1333, a decline of 376.56% from ¥0.0482 in 2023[20]. - The weighted average return on equity for 2024 was -5.04%, down from 1.76% in 2023[20]. - The company reported a non-operating income of ¥28,331,368.78 in 2024, down from ¥41,725,921.32 in 2023, indicating a decrease of 32.2%[27]. - The company’s total revenue for 2024 was approximately ¥1.52 billion, representing a decrease of 21.11% compared to ¥1.93 billion in 2023[74]. - The home furnishing sector accounted for 99.29% of total revenue in 2024, with revenue of approximately ¥1.51 billion, down 19.14% from ¥1.87 billion in 2023[74]. - The flooring segment generated revenue of approximately ¥1.01 billion, which is 66.34% of total revenue, reflecting a decline of 9.70% from ¥1.12 billion in 2023[74]. - The company achieved a gross margin of 20.65% in the home furnishing sector, down 2.01% from the previous year[75]. - The company’s revenue from the new materials sector dropped by 53.20%, from approximately ¥1.71 million in 2023 to ¥800,220.63 in 2024[74]. - The company’s revenue from the dealer model decreased by 29.48%, while the direct sales model saw a decline of 9.69%[74]. - The company reported a total operating cost of ¥1,201,429,670.73, a decrease of 17.03% compared to ¥1,448,115,713.43 in the previous year[79]. - The cost of flooring products accounted for 66.88% of total operating costs, amounting to ¥807,806,099.46, down 8.70% from the previous year[80]. - Research and development expenses totaled ¥32,792,648.42, a decrease of 17.64% from ¥39,815,735.53 in the previous year[83]. - The company reported a significant decline in investment income, down 76.56% to ¥46,289,521.87, primarily from the disposal of trading financial assets[90]. - The company’s cash and cash equivalents net decrease was ¥377,940,132.78, a decline of 2,212.68% compared to the previous year[87]. - The company has a cash dividend total of 171,455,808.95 CNY from share repurchases, which is considered equivalent to cash dividends for the year[183]. - The company did not propose any cash dividends or stock bonuses for the 2024 fiscal year due to the reported loss[183]. Business Operations - The company has expanded its business scope to include customized home furnishings and graphene-related products since 2016[19]. - The company operates three major brands in the flooring sector, with over 1,000 stores and a national-level high-tech enterprise status, recognized for its R&D capabilities[35]. - The company’s main business includes the R&D, production, and sales of wood flooring, customized furniture, and graphene preparation equipment[44]. - The flooring segment aims for growth through "upgrading," "efficiency," and "digital intelligence," with a focus on sustainable development and cost reduction[49]. - The flooring segment has implemented a "digital production 2.0" phase, enhancing operational efficiency through automation and data analysis[50]. - The company has launched a "1+N+X" dealer transformation model to enhance retail, home decoration, and boutique engineering channels[54]. - The company has launched several new products, including thin engineering flooring and graphene-based flooring, aimed at increasing market share and enhancing competitiveness[84]. - The company has developed a new moisture-proof and waterproof flooring material, enhancing market competitiveness and expanding market share[85]. - The company is focusing on developing new products and technologies to enhance market adaptability and competitiveness[85]. - The company has established a robust sales network covering 31 provinces and municipalities in China, with nearly 2,000 effective offline stores for its brands[67]. Market Environment - The overall economic environment remains challenging, with GDP growth at 5.0% and retail sales growth at 3.5% in 2024, reflecting a slowdown in consumer market recovery[30]. - The real estate sector, which significantly impacts the company's wood flooring and custom home industries, saw a 12.9% decrease in new residential sales area in 2024[30]. - The government has introduced policies to stimulate home renovation and smart home consumption, which may positively affect the flooring and custom home markets[32][33]. - The wood flooring industry in China has a market size of over 100 billion, facing challenges such as supply-demand mismatch and severe product homogeneity[34]. - The company faces risks from cyclical fluctuations in the real estate market, with a projected 12.9% year-on-year decline in residential sales area for 2024[121]. - To mitigate risks from the real estate sector, the company will strengthen brand promotion and explore new sales models targeting the renovation and old home transformation markets[122]. - Raw material price volatility poses a significant risk, with reliance on imported materials like wood veneer, prompting the company to seek alternative suppliers and improve production efficiency[125]. Governance and Management - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, and finances[141]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[136]. - The company has a dedicated financial department and internal audit department, ensuring independent accounting and financial management systems[146]. - The company has implemented a robust governance structure to protect the rights of shareholders[172]. - The board of directors has approved a dividend payout of 0.5 per share, reflecting a commitment to returning value to shareholders[161]. - The company has a total of 11 directors, with 6 independent directors contributing to governance[166]. - The company has a structured approach to governance, ensuring that compensation decisions are made transparently and fairly[165]. - The company has a significant presence in the graphene technology sector, with multiple subsidiaries focused on this area[163]. - The company is actively involved in the new materials sector, particularly in the development of innovative products[163]. - The company has been expanding its footprint in the smart home industry through various investments and management roles[163]. Research and Development - The company is investing 50 million in R&D for new technologies aimed at enhancing product efficiency[162]. - The company has filed two patent applications related to graphene materials during the reporting period, bringing the total number of effective patents to 21[68]. - The company’s smart manufacturing AI laboratory aims to explore AI applications in the flooring sector, focusing on machine vision quality inspection systems[51]. - The graphene new materials segment will continue to deepen research and development, focusing on the application of graphene in home products and enhancing market competitiveness through comprehensive channel development[118]. Social Responsibility - The company has disclosed its 2024 Social Responsibility Report, detailing its commitments and actions in this area[198]. - Guangzhou Hanju has implemented measures for solid waste management, including recycling and proper disposal of hazardous waste[194]. - The company has constructed wastewater treatment facilities to recycle and purify production wastewater[195]. - There are currently no initiatives related to poverty alleviation or rural revitalization reported by the company[199].