永和股份(605020) - 2024 Q4 - 年度财报

Financial Performance - The net profit for the fiscal year 2024 reached ¥252,348,531.75, with the net profit attributable to shareholders of the parent company being ¥251,336,834.23[7] - The company's net profit for the parent company in 2024 was ¥159,370,054.33, after allocating 10% for statutory surplus reserves amounting to ¥15,937,005.43[7] - The total distributable profit for the parent company as of December 31, 2024, was ¥590,641,491.28, after accounting for the cash dividend distribution of ¥57,044,817.45 for the year 2023[7] - The proposed cash dividend distribution is ¥2.50 per 10 shares, totaling ¥117,406,897.00 (including tax), which represents 46.71% of the net profit attributable to shareholders for 2024[8] - The company's operating revenue for 2024 reached ¥4,605,643,494.08, representing a 5.42% increase compared to ¥4,368,800,001.10 in 2023[29] - The net profit attributable to shareholders for 2024 was ¥251,336,834.23, a significant increase of 36.83% from ¥183,688,852.16 in 2023[29] - The net profit after deducting non-recurring gains and losses for 2024 was ¥245,808,049.01, up 117.79% from ¥112,864,426.66 in 2023[29] - The net cash flow from operating activities for 2024 was ¥582,531,779.26, an increase of 11.21% compared to ¥523,805,658.59 in 2023[29] - The total assets at the end of 2024 were ¥7,137,035,461.99, reflecting a 5.83% increase from ¥6,743,889,350.61 at the end of 2023[29] - The net assets attributable to shareholders at the end of 2024 were ¥2,848,674,774.58, a 7.87% increase from ¥2,640,753,080.65 at the end of 2023[29] - The basic earnings per share for 2024 were ¥0.67, a 36.73% increase from ¥0.49 in 2023[30] - The diluted earnings per share for 2024 were also ¥0.67, up 39.58% from ¥0.48 in 2023[30] - The weighted average return on equity for 2024 was 9.19%, an increase of 2.05 percentage points from 7.14% in 2023[30] Risk Management - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[10] - There are no violations of decision-making procedures regarding external guarantees[11] - The company has detailed potential risks in the report, particularly in the section discussing future development[13] - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report[9] Audit and Compliance - The audit report issued by Lixin Certified Public Accountants confirms the accuracy and completeness of the financial statements[6] - The company has received an A-level rating for information disclosure from the Shanghai Stock Exchange for two consecutive years, enhancing transparency and investor trust[49] Production and Sales - The company's fluorocarbon chemical production volume was 166,105.03 tons, a decrease of 18.33% year-on-year, while sales volume was 103,051.87 tons, down 9.21%[38] - The revenue from fluorocarbon chemicals was 244,673.53 million RMB, with an average gross margin of 20.37%, an increase of 12.62 percentage points year-on-year[38] - The company’s revenue from fluorine-containing polymer materials reached 158,110.74 million RMB, a year-on-year increase of 17.38%, with a sales volume of 38,635.68 tons, up 40.59%[40] - The average gross margin for fluorine-containing polymer materials was 15.79%, a decrease of 8.11 percentage points year-on-year due to rising raw material costs[40] - The chemical raw materials segment reported a revenue of 43,596.22 million RMB, a year-on-year decrease of 20.09%, with an average gross margin of -9.26%[42] - The company introduced new production lines for fluorine fine chemicals, achieving a revenue of 2,057.87 million RMB, with a gross margin of -2.30%[44] Research and Development - The company holds 76 registered patents, including 29 invention patents, and added 3 invention patents and 14 utility model patents in 2024[45] - The company is focusing on the R&D of fourth-generation refrigerants and has made significant progress in optimizing dielectric performance for high-frequency cables[45] - Research and development expenses rose by 15.59% to CNY 104,302,963.02, indicating increased investment in new products and technologies[77] - The total R&D expenditure amounted to ¥104,302,963.02, representing 2.26% of the company's total revenue[89] - The company plans to enhance its R&D efforts in specialty fluorinated monomers and high-quality fluororesins as part of its growth strategy[111] Environmental and Safety Management - The company has implemented a comprehensive safety management system, achieving zero major pollution incidents and maintaining compliance with environmental standards throughout the year[48] - The company is focusing on green transformation, with a continuous increase in the proportion of clean energy in its operations[47] - The company has optimized its waste treatment processes, achieving stable operation of environmental facilities and ensuring compliance with pollution discharge standards[47] - The company emphasizes safety and environmental protection, ensuring compliance with increasingly stringent national standards to mitigate risks associated with hazardous chemical production[163] Market Strategy and Expansion - The company has established a global sales network covering over 100 countries and regions, enhancing market penetration[74] - The company is exploring innovative ways to expand overseas markets while also diversifying its domestic market strategies to reduce export risks[162] - The company plans to invest 900.00 million USD to establish a wholly-owned subsidiary in Singapore to enhance international market engagement[141] - The company plans to enter three new international markets by the end of 2024, aiming for a 10% market share in each[174] Corporate Governance - The company has committed to improving corporate governance in accordance with relevant laws and regulations, ensuring transparency and protecting shareholder rights[166] - The company will hold its annual general meeting on May 23, 2024, to discuss various proposals, including the 2023 annual report and the appointment of auditors for 2024[169] - The company has independent directors serving in three listed companies, complying with relevant regulations[176] Employee Management - The company has a total of 2,947 employees, with 236 in the parent company and 2,711 in major subsidiaries[191] - The employee composition includes 1,944 production personnel, 398 technical staff (including R&D), and 247 management personnel[191] - The company has implemented a diversified compensation model consisting of "base salary + position salary + performance bonus" to enhance talent retention[193] - The company aims to enhance its talent pool through a combination of internal training and external education, focusing on key talent development[195] Future Outlook - The company anticipates continued growth in revenue and profitability in the upcoming quarters, supported by strategic initiatives[171] - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[174] - The management team remains optimistic about future market conditions and is committed to achieving long-term financial goals[171]