CCG(605099)2025-04-27 08:15Financial Performance - The company achieved operating revenue of CNY 2,951,837,100.11 in 2024, representing a year-on-year increase of 19.92%[23]. - Net profit attributable to shareholders reached CNY 511,249,406.15, up 18.56% compared to the previous year[23]. - The basic earnings per share increased to CNY 1.28, reflecting an 18.52% growth from 2023[24]. - The weighted average return on equity rose to 19.62%, an increase of 1.30 percentage points year-on-year[24]. - The company reported a net cash flow from operating activities of CNY 465,499,116.14, which is a 14.19% increase from the previous year[23]. - Total assets at the end of 2024 amounted to CNY 3,307,786,816.39, a 6.02% increase from 2023[23]. - The net profit after deducting non-recurring gains and losses was CNY 505,012,352.63, marking a 20.63% increase year-on-year[23]. - The company achieved revenue growth and profit increase, reinforcing its leading position in the artificial turf industry, with a focus on core and emerging markets to enhance market share[100]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 6.40 per 10 shares to all shareholders, based on a total distributable profit of RMB 907,118,506.63 as of December 31, 2024[6]. - The cash dividend for the current fiscal year represents 50.28% of the net profit attributable to shareholders[153]. - The cash dividend distribution for the fiscal year 2023 is set at 5.40 CNY per 10 shares, amounting to 216,048,600.00 CNY (including tax)[148]. - The cash dividends for the last three fiscal years totaled 698,053,440.00 CNY, with an average annual net profit of 463,168,021.97 CNY, resulting in a cash dividend ratio of 150.71%[154]. - The board must communicate with shareholders, especially minority shareholders, to gather their opinions and concerns regarding dividend distribution[146]. Market Expansion and Sales - International market sales revenue reached 2,624.40 million yuan, a year-on-year increase of 20.85%, accounting for 88.91% of total revenue[34]. - Domestic market sales revenue was 327.43 million yuan, growing by 13.00%, with domestic turf system revenue increasing by 51.80%[35]. - The company sold a total of 91.07 million square meters of artificial turf products in the reporting period, representing a year-on-year growth of 25.48%[33]. - The company is focusing on enhancing its competitive advantage through targeted market strategies and resource allocation, leading to an effective increase in global market share[35]. - The company is advancing the construction of its third-phase production base in Vietnam to enhance global capacity and reduce the impact of international trade policy changes[36]. Governance and Compliance - The company has a strong governance structure with all board members present at the board meeting[4]. - The company has established effective communication channels with investors, enhancing transparency and information disclosure[111]. - The independent directors have played a positive role in enhancing corporate governance and decision-making capabilities[110]. - The company has implemented a comprehensive incentive plan for 2024, including stock options and restricted stock[114]. - The company is committed to ensuring compliance with relevant regulations in its financial reporting and auditing processes[132]. Research and Development - The company has obtained a total of 66 authorized patents, including 27 invention patents, indicating progress in the development of differentiated products[37]. - The company’s research and development team focuses on high-performance sports grass and environmentally friendly systems, with new products exceeding FIFA Quality Pro standards[55]. - The company invested CNY 90.43 million in R&D, representing 3.06% of its revenue, to maintain its competitive edge through new technology and product development[103]. Environmental Commitment - The company has been recognized as a "National Green Factory" and included in the "2024 Green Manufacturing List," reflecting its commitment to sustainable development[37]. - The company achieved a carbon dioxide equivalent reduction of 8,758.85 tons through clean energy initiatives, including a distributed photovoltaic power generation project[169]. - The cumulative power generation from the photovoltaic project in 2024 was about 13.94 million kilowatt-hours, contributing to significant environmental benefits[170]. - The company invested approximately 3.80 million yuan in environmental protection during the reporting period[164]. Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[8]. - The company emphasizes the importance of risk awareness in its forward-looking statements, cautioning investors about uncertainties[7]. - The company is exposed to risks from fluctuations in international political and economic environments, which could impact its overseas business revenue and profits[103]. - The company faced external challenges such as global market demand fluctuations and intensified competition but managed to achieve record financial performance[32]. Human Resources and Compensation - The company implemented significant human resource reforms, including changes to compensation and performance management systems[32]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 14.9021 million[125]. - The company has established a stock option and restricted stock incentive plan to enhance team cohesion and recognize contributions from all employees[137]. - The company has conducted a performance evaluation for all employees annually, influencing salary adjustments and promotions[141]. Legal and Regulatory Matters - The company is currently facing significant litigation matters, including a lawsuit against Qingdao Qinghe Artificial Turf Co., Ltd. for patent infringement, with a claim for RMB 3,500,000 in damages[185]. - The company has confirmed that the incentive plan does not involve any misleading statements or omissions[178]. - The company has not encountered any violations regarding guarantees during the reporting period[179]. - The company has not reported any instances of non-standard audit opinions from its accounting firm[179].