Jiahe Foods(605300)2025-04-25 13:43Financial Performance - The company's operating revenue for 2024 was CNY 2,310,607,331.52, a decrease of 18.68% compared to CNY 2,841,274,608.99 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 83,937,228.10, down 67.43% from CNY 257,750,734.63 in 2023[24]. - The basic earnings per share for 2024 was CNY 0.21, a decline of 67.19% compared to CNY 0.64 in 2023[25]. - The cash flow from operating activities for 2024 was CNY 295,578,029.16, showing a slight increase of 0.45% from CNY 294,250,027.29 in 2023[24]. - The total assets at the end of 2024 were CNY 2,881,151,326.22, a decrease of 9.96% from CNY 3,199,888,271.44 at the end of 2023[24]. - The company experienced a 68.49% decline in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 70,528,694.56 in 2024[24]. - The weighted average return on equity for 2024 was 3.85%, down from 12.10% in 2023, a decrease of 8.25 percentage points[26]. - The overall net profit margin was 3.72%, a decline of 5.32 percentage points year-on-year[78]. - The company's total revenue for the reporting period was 2.052 billion yuan, a year-on-year decrease of 22.71%, with a gross margin decline of 3.23 percentage points[82]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares to shareholders, totaling approximately RMB 26,989,163.94 (including tax) based on a total share count of 454,398,597 shares as of March 31, 2025[8]. - The board of directors has approved the profit distribution plan, which is subject to the approval of the 2024 annual general meeting[8]. - The cash dividend amount for the current period is CNY 26,989,163.94, which accounts for 32.15% of the net profit attributable to ordinary shareholders[178]. - The cumulative cash dividend amount over the last three accounting years is CNY 173,857,072.50, with an average cash dividend ratio of 114.11%[180]. Risk Management and Compliance - The company does not foresee any significant risks that could materially impact its operations during the reporting period[10]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[10]. - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the annual report[9]. - The company has established a risk management framework for foreign exchange hedging, focusing on legal, prudent, and effective practices[117]. - The company has a comprehensive risk control system in place for its hedging activities, including strict funding limits and operational protocols[117]. - The company strictly adhered to insider information management regulations, ensuring no insider trading incidents were reported during the reporting period[144]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Tianheng Accounting Firm[7]. - The company has committed to maintaining the accuracy and completeness of the financial report as stated by its management[5]. - The company has implemented various internal control measures and has received a standard unqualified opinion in the internal control audit report[186]. Research and Development - The company maintained a focus on R&D investment to enhance its market position, aligning with national industry planning and trends[37]. - The total R&D expenditure was 28,689,623.08 yuan, accounting for 1.24% of total revenue[89][90]. - The company has established a national-level postdoctoral research workstation, currently hosting 2 postdoctoral researchers, enhancing its capabilities in technological innovation and talent cultivation[69]. - The company holds 79 valid patents, including 17 invention patents and 41 utility model patents, demonstrating its strong R&D capabilities in the powdered oil sector[70]. Market Trends and Product Development - The coffee market has seen a clear trend towards product diversification, with high-quality specialty coffee gaining popularity among consumers[38]. - The company launched the Jinmao fresh-brewed 20x concentrated coffee liquid, which received widespread consumer recognition[38]. - The company is actively developing new products such as Karima yogurt and Karima rice milk to meet the growing health-conscious consumer demand[38]. - The company is expanding its product line with health-oriented products, including organic oat milk and milk tea series, enhancing its brand image and market influence[39]. - The company has successfully developed new products such as Calima Original Yogurt by analyzing market trends and consumer demands for gut health[42]. Marketing and Sales Strategy - The marketing campaign "Very Mai Douyin Challenge Mai Towards a Healthy New Year" achieved a view count of 380 million, resulting in over 10 million user reach and converting thousands of new users[40]. - The company organized events like the Lujiazui Coffee Festival, attracting 119,272 online views and generating sales of 316,021 yuan during live broadcasts, while gaining 11,733 new social media followers[40]. - The company has expanded its sales strategy to a "2B2C dual-driven development" model, leveraging its B-end resources while catering to C-end consumer preferences[68]. - The company is actively exploring new sales channels, including large supermarkets and online platforms, to enhance brand visibility and consumer interaction[77]. Environmental and Social Responsibility - The company invested CNY 4.21 million in environmental protection during the reporting period[188]. - The company has not experienced any environmental pollution incidents during the reporting period and has not received any administrative penalties[189]. - The company has established effective wastewater and air pollution control facilities, ensuring compliance with environmental regulations[191]. - Total investment in poverty alleviation and rural revitalization projects amounted to CNY 57.988 million, benefiting 1,414 individuals through direct sourcing from local farmers[197]. - The company donated a total of CNY 556,600 to various charitable causes, including CNY 520,000 for a charity event and CNY 20,000 for educational support[196]. Corporate Governance - The company adheres to legal and regulatory requirements for corporate governance, ensuring that all shareholders, especially minority shareholders, have equal rights and access to information[138]. - The board of directors operates independently, with established committees to oversee various aspects of governance, ensuring compliance with legal standards[140]. - The company has implemented a comprehensive information disclosure system to maintain transparency and prevent insider trading, ensuring fair access to information for all shareholders[142]. - The company has established specialized committees under the board, including the audit committee and the strategic committee, with specific members designated[163].