SEAMILD FOODS(002956)2025-04-25 13:15Financial Performance - The company's revenue for 2024 reached ¥1,896,127,572.97, representing a 20.16% increase compared to ¥1,577,998,810.04 in 2023[36] - Net profit attributable to shareholders was ¥133,186,135.63, up 15.36% from ¥115,450,343.11 in the previous year[36] - The basic earnings per share increased to ¥0.60, a rise of 15.38% from ¥0.52 in 2023[36] - Cash flow from operating activities improved significantly, totaling ¥169,992,670.60, which is a 41.80% increase from ¥119,881,855.77 in 2023[36] - Total assets at the end of 2024 were ¥2,191,251,010.49, reflecting a 9.01% growth from ¥2,010,154,161.58 in 2023[36] - The company reported a net profit of ¥110,571,418.02 after deducting non-recurring gains and losses, which is a 16.75% increase from ¥94,711,418.81 in 2023[36] - Total revenue for the first quarter was ¥565,623,157.32, with a net profit attributable to shareholders of ¥45,003,373.32[40] - The second quarter saw a revenue decrease to ¥407,621,396.10, with net profit dropping to ¥21,538,481.66[40] - In the third quarter, revenue increased to ¥459,816,094.21, while net profit rose to ¥41,812,464.56[40] - The fourth quarter reported revenue of ¥463,066,925.34 and a net profit of ¥24,831,816.09[40] Market Expansion and Product Development - The company has launched new product lines, including a series of oat-based products targeting different consumer segments[10] - The company is focusing on expanding its market presence and enhancing its product offerings through research and development initiatives[31] - The company aims to leverage the health benefits of oats to expand its market presence, particularly in regions that have approved health claims related to oats[46] - The company focuses on the research, production, and sales of healthy grain foods, particularly oatmeal, with a diverse product matrix including pure oatmeal series and functional foods[61] - The company has diversified its product offerings, including new categories such as oat milk and protein powder, to meet evolving consumer health demands[66] - The company launched several new products, including a series of functional foods and upgraded oatmeal products, to meet evolving consumer demands[99] Industry Trends and Consumer Insights - In 2023, China's per capita oat consumption is only 0.1 kg, significantly lower than developed countries, indicating substantial growth potential in the oat food industry[51] - The Chinese oat market is projected to exceed 10 billion yuan by 2024, driven by increasing consumption trends and expanding market scenarios[53] - The oat milk market in China reached approximately 3.332 billion yuan in 2023, an increase of 1.167 billion yuan from 2022, reflecting a strong growth trend[58] - The aging population in China is expected to double in proportion over the next thirty years, which will further expand the consumer base for oat products[55] - The increasing health awareness among young consumers is driving demand for oat products, leading to the development of new product forms that cater to their preferences[57] - The market for oat products is expected to continue growing as consumption scenarios expand from hot meals to cold meals and from breakfast to snack options[53] Financial Management and Investments - The company’s procurement of raw materials totaled approximately ¥605 million, with packaging materials at ¥199 million and other costs at ¥97 million[65] - The company reported a significant reduction in financial expenses by 39.47%, resulting in a net financial income of -¥7,309,510.52[97] - Research and development expenses increased by 22.25% to ¥8,961,113.15, reflecting the company's commitment to innovation[97] - R&D investment increased by 22.25% to ¥8,961,113.15 in 2024, compared to ¥7,330,240.88 in 2023, representing 0.47% of operating revenue[100] - The company’s total investment during the reporting period was 117,984,852.57, reflecting a 16.37% increase compared to the previous year[110] Corporate Governance and Compliance - The company has established a sound corporate governance structure to ensure fair and equitable shareholder rights[184] - The company’s governance structure operates in compliance with the Company Law and its articles of association, ensuring effective decision-making and supervision[142] - The company has independent financial accounting and management systems, ensuring autonomous financial decision-making[146] - The company has not faced any objections from directors regarding company matters during the reporting period[160] - The company has established a clear remuneration management policy for senior management to guide compensation decisions[155] Shareholder Engagement and Dividends - The total cash dividend amount for the reporting period was ¥93,227,899.18, which represents 100% of the total profit distribution[171] - The company has a total of 223,246,885 shares as the basis for the dividend distribution plan, with a cash dividend of ¥4.176 per 10 shares[171] - The board proposed a cash dividend of RMB 4.176 per 10 shares, totaling approximately RMB 93.23 million, which represents 70% of the net profit attributable to shareholders for the year 2024[172] - The total amount for cash dividends and share repurchases for 2024 is expected to be RMB 108.30 million, accounting for 81.32% of the net profit attributable to shareholders[172] Environmental and Social Responsibility - The company actively promotes energy conservation and emission reduction, advocating resource-saving practices among employees[184] - The company has not faced any significant environmental pollution incidents or penalties for violating environmental protection laws[183] - The company supports rural revitalization and poverty alleviation by donating food supplies to underprivileged workers in the region[185] - The company emphasizes quality control and product safety to protect consumer interests[184] Strategic Acquisitions and Partnerships - The company successfully completed its first strategic acquisition of Chengdu Desai Kanggu Food Co., expanding into the yogurt cereal cap market[82] - The company aims to expand its market presence through both organic growth and strategic acquisitions in the health food sector[66] - The international business unit will focus on building a diversified and efficient supply chain, targeting Southeast Asia and Europe as initial markets for expansion[134] Employee Management and Development - The company has established a modern human resources management system, focusing on performance-based compensation and multi-level incentives[166] - The company’s training plan emphasizes a combination of internal and external training to enhance employee skills and promote company culture[167] - The company reported a total of 3,368 employees at the end of the reporting period, with 1,674 in sales and 1,227 in production[165]