ZJDR(SH:600113)2025-03-07 12:35Financial Performance - The company's operating revenue for 2024 was approximately ¥722.52 million, a decrease of 18.44% compared to ¥885.82 million in 2023[23]. - The net profit attributable to shareholders for 2024 was approximately ¥134.71 million, down 34.94% from ¥207.05 million in 2023[23]. - Basic earnings per share for 2024 were ¥0.35, a decline of 30.00% from ¥0.50 in 2023[24]. - The weighted average return on equity decreased to 5.52% in 2024, down 3.74 percentage points from 9.26% in 2023[24]. - The total assets at the end of 2024 were approximately ¥3.61 billion, a decrease of 3.43% from ¥3.74 billion at the end of 2023[23]. - The net cash flow from operating activities for 2024 was approximately ¥115.83 million, a decrease of 34.02% from ¥175.57 million in 2023[23]. - The company’s gross profit margin for the main business decreased by 20.77% in operating costs compared to the previous year[67]. - The company’s management expenses increased slightly by 0.87% to CNY 769.30 million compared to the previous year[67]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, totaling approximately RMB 50,563,999.20 (including tax) based on a total share capital of 421,366,660 shares as of December 31, 2024[7]. - The company has stated that there will be no changes to the total distribution amount even if the total share capital changes before the dividend record date[7]. - The cash dividend amount for the current period is CNY 50,563,999.20, which accounts for 37.54% of the net profit attributable to ordinary shareholders in the consolidated financial statements, amounting to CNY 134,710,000.17[139]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) is CNY 175,811,437.20, with an average net profit of CNY 167,421,761.40, resulting in a cash dividend ratio of 105.01%[141]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy and completeness of the financial report[6]. - The company’s financial report has been declared true, accurate, and complete by its responsible personnel[6]. - The company has confirmed that all board members attended the board meeting, ensuring collective responsibility for the report's accuracy[5]. - The company has not violated any decision-making procedures in providing guarantees to external parties[8]. - The company has not reported any significant internal control deficiencies during the reporting period, indicating a stable governance structure[144]. - The company strictly adhered to information disclosure obligations, with no instances of regulatory criticism or penalties for disclosure violations during the reporting period[113]. Risk Management - The company has detailed the major risks it faces in the management discussion and analysis section of the report[8]. - The company is actively enhancing its risk management capabilities by updating internal audit and governance structures to comply with regulatory requirements[40]. - The company is facing market risks due to potential economic fluctuations that could impact consumer purchasing power and food demand[102]. - The company is also contending with increased competition from new business models such as e-commerce and direct sales, which could affect its market position[102]. Strategic Initiatives - The company aims to strengthen its core business and improve the quality of its wholesale market operations to ensure stable prices and supply of agricultural products[32]. - The company plans to raise up to 720 million CNY through a private placement to fund projects including the second phase of the Jinnan International Agricultural Products Logistics Park and upgrades to smart agricultural markets[33]. - The implementation of the fundraising projects is expected to enhance the digitalization and information management of agricultural product wholesale markets in Wenzhou, improving operational efficiency and market competitiveness[34]. - The company is committed to digitalization and information technology to enhance operational efficiency and market reach in the agricultural wholesale sector[93]. Market Position and Expansion - The agricultural product wholesale market remains the main channel for agricultural product circulation, with approximately 70% of agricultural products distributed through wholesale markets[45]. - In 2024, the agricultural product wholesale market business accounted for 48.54% of the company's total revenue, while fresh food delivery and soybean product processing contributed 34.76% and 11.33% respectively[53][54]. - The company is actively expanding its market presence and improving market functions to increase transaction volume and scale, thereby enhancing its influence in the agricultural product sector[52]. - The company is focusing on optimizing management processes and enhancing customer transaction experiences through the application of big data and IoT technologies[50]. Governance and Management - The company held 6 shareholder meetings and 11 board meetings during the reporting period, ensuring compliance with governance regulations and protecting shareholder rights[111]. - The supervisory board conducted 10 meetings, focusing on financial oversight and safeguarding company assets, maintaining independence from the board of directors[112]. - The company has established a fair and transparent performance evaluation and incentive mechanism for its senior management, ensuring compliance with relevant laws and regulations[113]. - The total compensation for the board members and senior management during the reporting period amounted to 4.51 million yuan[118]. Research and Development - The company has increased its research and development investment to enhance its technological innovation capabilities[31]. - The company has developed nearly 100 software copyrights and invention patents through its R&D efforts, showcasing its focus on innovation and technology[36]. - Research and development expenses totaled 9.04 million, which is 1.25% of total operating revenue[75]. - The number of R&D personnel was 45, constituting 4.27% of the total workforce[77]. Related Party Transactions - The estimated total amount for related party transactions in 2024 is approximately RMB 12.49 million, with actual transactions amounting to RMB 9.3168 million as of December 31, 2024[164]. - The company’s total related party transaction amount for purchasing goods and services is RMB 124.9 million[164]. - The company has not provided any guarantees for shareholders, actual controllers, or related parties, with amounts for such guarantees being zero[170]. Environmental and Social Responsibility - The company has made a total donation of CNY 148,000 in public welfare projects, specifically directed towards areas such as Guizhou Province[148]. - The company has not taken any measures to reduce carbon emissions during the reporting period, which may be a consideration for future sustainability initiatives[148]. Future Outlook - In 2025, the company plans to achieve a revenue of over 900 million yuan and aims for steady growth in net profit excluding non-recurring items[101]. - The overall agricultural product consumption market is expected to have significant growth potential, driven by rising income levels and consumption upgrades[89].