NAR(002825)2025-04-21 15:15Financial Performance - The company's operating revenue for 2024 reached ¥1,899,959,881.90, representing a 27.73% increase compared to ¥1,487,454,504.69 in 2023[24]. - Net profit attributable to shareholders for 2024 was ¥126,333,558.91, up 26.09% from ¥100,190,503.70 in 2023[24]. - The basic earnings per share increased to ¥0.38 in 2024, a rise of 26.67% from ¥0.30 in 2023[24]. - The total assets at the end of 2024 were ¥2,553,537,177.41, reflecting a 6.81% growth from ¥2,390,677,007.29 at the end of 2023[24]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥118,887,064.69, a 23.40% increase from ¥96,342,114.06 in 2023[24]. - The weighted average return on equity for 2024 was 8.54%, an increase of 1.39% from 7.15% in 2023[24]. - The company achieved a revenue of CNY 1.90 billion in 2024, representing a year-on-year growth of 27.73%[50]. - Net profit for the year was CNY 128 million, an increase of 31.19% compared to the previous year, with basic earnings per share at CNY 0.38[50]. Market Expansion and Strategy - The company is expanding its overseas market presence, particularly in Brazil, Saudi Arabia, UAE, and South Africa, to enhance its risk resilience against geopolitical tensions[3]. - The company is actively mitigating risks from economic fluctuations by utilizing overseas subsidiaries to counteract anti-dumping policies and engaging with logistics partners to address delivery risks from geopolitical conflicts[4][5]. - The company is committed to enhancing its supply chain integration through overseas factories to better manage risks associated with international trade tensions[3]. - The company is focusing on expanding its market share with new products like environmentally friendly pressure-sensitive adhesives[62]. - The automotive protective film segment targets to maintain and grow its position within the top tier of the domestic market over the next three years[83]. - The electronic optical functional film division plans to increase its penetration among mobile phone manufacturers and enhance market share within three years[83]. Research and Development - The company is investing in R&D to develop high-performance, cost-effective products tailored for different markets, enhancing its competitive edge[6]. - The company has established partnerships with universities for R&D projects, enhancing its innovation capabilities in the hydrogen energy sector[42]. - The company applied for a total of 54 patents in 2024, including 14 invention patents and 40 utility model patents, bringing the total number of valid invention patents to 18 and utility model patents to 92 by the end of 2024[43]. - Research and development expenses increased by 43.18% to ¥106,656,988.98 compared to the previous year[61]. - R&D investment amounted to approximately ¥106.66 million in 2024, representing a 43.18% increase from ¥74.49 million in 2023, with R&D investment as a percentage of revenue rising to 5.61%[64]. - R&D personnel increased to 181 in 2024, a rise of 7.10% from 169 in 2023, while the proportion of R&D personnel decreased to 16.35%[63]. Sustainability and Environmental Commitment - The company is committed to sustainable development, focusing on energy-saving projects and the development of environmentally friendly materials[40]. - The company emphasizes a commitment to environmental protection and sustainable development, actively reducing carbon emissions[163]. - The company is expanding into the clean energy sector to further its commitment to sustainability[164]. - The company has established a management system for energy consumption and is focused on green manufacturing and low-carbon development[88]. Corporate Governance - The company has a well-defined corporate governance structure, with strict adherence to legal procedures for the appointment of directors and senior management[106]. - The board of directors convened six times, with independent directors constituting over one-third of the board, ensuring compliance with governance standards[97]. - The company has established a comprehensive corporate governance structure to ensure fair treatment of all shareholders[160]. - The company has strengthened its internal management and control systems to improve governance levels in accordance with legal requirements[93]. - The independent directors have actively participated in board meetings and have not raised objections to any resolutions during the reporting period[100]. Shareholder Relations and Dividends - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profit to be distributed in cash each year, provided certain conditions are met[137]. - The company emphasizes a stable and continuous profit distribution policy that balances the interests of all shareholders and the company's sustainable operation[136]. - The company reported a total cash dividend of CNY 40,426,815.24, which represents 100% of the total profit distribution[141]. - The company has communicated with minority shareholders to gather their opinions on the cash dividend proposal before the shareholders' meeting[139]. - The company’s independent directors have confirmed that the profit distribution process is compliant and transparent, protecting the rights of minority investors[140]. Risk Management - The company has established a risk management system for foreign exchange derivatives trading, ensuring no speculative trading is conducted[76]. - The company is focusing on enhancing product performance and production efficiency through various new technologies and product developments[63]. - The company has implemented a pricing adjustment mechanism to share the impact of exchange rate fluctuations with customers and is exploring hedging tools to stabilize earnings[7]. - The company is strategically stockpiling raw materials like PVC resin powder and utilizing futures contracts to hedge against price volatility[8]. Operational Efficiency - The company has implemented a "sales-driven production" model, ensuring efficient inventory management and cost control[39]. - The company emphasizes digital management and cost optimization to improve product competitiveness in the domestic market[6]. - The company is investing in digital operations and precision management to enhance product quality and operational efficiency[39]. - The company has established a comprehensive quality management system certified by multiple international standards, enhancing product competitiveness[44]. Employee Relations - The total number of employees at the end of the reporting period is 1,304, with 332 in the parent company and 939 in major subsidiaries[132]. - The company has a structured remuneration system based on performance and responsibilities, with fixed annual salaries and performance bonuses[122]. - The company provides extensive training and development opportunities for employees to enhance their skills and promote mutual growth[161]. - The company plans to conduct various training activities in 2024 to enhance management capabilities and support sustainable development[135].