Anjoy food(603345)2025-04-28 14:35Dividend Distribution - The company plans to distribute a cash dividend of 1.015 CNY per share (including tax), totaling approximately 296.52 million CNY (including tax) based on a total share count of 292,133,332 shares after accounting for treasury shares[6]. - In 2024, the company has distributed a total cash dividend of approximately 1.68 billion CNY (including tax) to all shareholders[8]. - The total cash dividend for 2024 is expected to be approximately 1.04 billion CNY (including tax), representing 70.05% of the audited net profit attributable to shareholders of the listed company for the year[8]. - The cash dividend amount for the latest reporting period is 1,040,059,864.54 RMB, which represents 70.05% of the net profit attributable to ordinary shareholders[172]. - The cumulative cash dividend over the last three accounting years is 2,047,813,168.26 RMB, with a cash dividend ratio of 151.17% based on the average annual net profit[174]. Financial Performance - The company's operating revenue for 2024 reached ¥15,126,651,674.36, representing a 7.70% increase compared to ¥14,045,234,826.03 in 2023[25]. - Net profit attributable to shareholders for 2024 was ¥1,484,831,242.06, a slight increase of 0.46% from ¥1,478,066,338.58 in 2023[25]. - The basic earnings per share for 2024 was ¥5.08, up 0.79% from ¥5.04 in 2023[26]. - The cash flow from operating activities for 2024 was ¥2,103,844,668.23, an increase of 7.58% compared to ¥1,955,654,340.14 in 2023[25]. - The total assets at the end of 2024 were ¥17,375,098,414.12, a 0.43% increase from ¥17,300,427,961.51 at the end of 2023[25]. - The weighted average return on equity for 2024 decreased to 11.48%, down from 12.10% in 2023, a reduction of 0.62 percentage points[26]. - The company reported a total revenue of CNY 15,126,651,674.36, with a year-on-year increase of 7.70%, and a gross margin of 23.30%, which increased by 0.09 percentage points[97][98]. - The net profit attributable to shareholders was 1.49 billion yuan, a slight increase of 0.46% from 1.48 billion yuan in the previous year[50]. Market and Industry Insights - The Chinese frozen food industry is valued at approximately RMB 220 billion in 2023, with a projected growth rate of about 10% from 2023 to 2028[35][37]. - The market for frozen prepared foods is estimated at RMB 55 billion in 2023, with an expected growth rate of 8% over the next five years[35]. - The global frozen food market reached USD 410 billion in 2023, with a forecasted growth to over USD 550 billion by 2025[36]. - The company anticipates continued growth in the frozen food industry driven by improved cold chain logistics and urbanization trends[111]. - The market for frozen dishes is expected to expand due to increasing demand from aging populations and the rise of pre-prepared meals[112]. Product Development and Innovation - The company emphasizes innovation and management optimization to achieve steady growth during the reporting period[34]. - The company is focusing on high-end products and increasing the proportion of mid-to-high-end products to enhance brand reputation and product value[34]. - The company plans to focus on promoting new products such as volcanic stone grilled sausages in 2024, targeting various sales channels[90]. - The company achieved initial success in 2024 with new product development in the volcanic stone grilled sausage and continues to optimize formulas to enhance product profitability[114]. - The company aims to increase the speed and success rate of new product launches, focusing on the "lock fresh packaging 6.0 + shrimp slide series" and other regional products[121]. Operational Efficiency and Cost Management - The company's operating costs amounted to 11.60 billion yuan, reflecting a year-on-year increase of 7.58%[51]. - The company’s procurement strategy involves bulk purchasing of key raw materials based on production plans, ensuring cost efficiency and quality control[40]. - The company aims to reduce operational costs by 5% through process optimization initiatives[139]. - The company has implemented a "quality improvement and efficiency enhancement" action plan for 2024, aimed at boosting operational performance[153]. Marketing and Sales Strategy - The company has established a comprehensive marketing network centered in East China, becoming one of the most influential frozen food enterprises in the country[38]. - The company is actively expanding its online sales channels and participating in major shopping festivals to enhance brand visibility[46]. - The new retail channel saw a revenue increase of 32.97% year-on-year, attributed to the expansion of new customers and increased sales from existing clients[60]. - The company will continue to promote brand awareness through various advertising channels, including new media and short video marketing, to reach younger consumers[120]. Governance and Compliance - The company has established five specialized committees within the board to enhance decision-making efficiency and compliance[128]. - The company maintains independence from its controlling shareholder in assets, personnel, finance, and business operations[131]. - The company is committed to continuous improvement in governance and compliance training for its board members and management[129]. - The company has implemented measures to ensure the independence of its operations from the controlling shareholder, with no reported incidents affecting this independence[132]. Environmental Responsibility - The company invested approximately 50.27 million yuan in environmental protection during the reporting period[184]. - The wastewater discharge from the company’s facilities is continuously monitored, with specific pollutants such as COD and ammonia nitrogen being reported[184]. - The company has established environmental protection mechanisms and is classified as a key pollutant discharge unit in several locations[184]. - The company has implemented a rooftop distributed photovoltaic project with a capacity of 192 kW, generating 205,700 kWh, resulting in a carbon reduction of approximately 122.98 tons[192]. - The total carbon reduction from both photovoltaic projects is approximately 1003.18 tons[192]. Human Resources and Employee Development - The company has established a training management system to enhance employee capabilities and support career development[163]. - The total outsourced labor hours amount to 3,564,461 hours, with total payments for outsourced labor reaching 82.26 million RMB[164]. - The company has implemented a stock option incentive plan, with 4,475,840 stock options meeting the exercise conditions for 1,415 eligible participants[175]. - The company has established a performance evaluation system for senior management based on operational goals and performance metrics[178]. Future Outlook and Strategic Initiatives - The company plans to issue H shares on the Hong Kong Stock Exchange as part of its future financing strategy[133]. - The company is planning to establish a three-year shareholder return plan from 2024 to 2026[147]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach[139]. - The company intends to expand into overseas markets with high growth potential, building a global supply chain platform to ensure stable supply of quality raw materials[118].