KMCJNC(SZ:300505)2025-03-12 11:10Financial Performance - The company's operating revenue for 2024 reached ¥3,207,476,951.57, an increase of 18.30% compared to ¥2,711,340,092.29 in 2023[19]. - The net profit attributable to shareholders for 2024 was ¥176,055,944.37, a significant turnaround from a loss of ¥91,459,452.49 in 2023, representing a 292.50% increase[19]. - The net profit after deducting non-recurring gains and losses was ¥167,262,876.25 in 2024, up 260.16% from a loss of ¥104,437,451.94 in 2023[19]. - Cash flow from operating activities showed a substantial increase to ¥142,811,815.59, a 419.67% rise from ¥27,481,409.10 in 2023[19]. - Basic earnings per share for 2024 were ¥0.6405, compared to a loss of ¥0.3724 in 2023, marking a 271.99% improvement[19]. - Total assets at the end of 2024 amounted to ¥3,609,153,324.48, reflecting a 1.55% increase from ¥3,553,892,582.94 at the end of 2023[19]. - The net assets attributable to shareholders increased by 5.92% to ¥2,540,802,774.24 at the end of 2024, up from ¥2,398,803,942.55 in 2023[19]. - The company reported a quarterly revenue of ¥1,007,372,128.06 in Q4 2024, contributing to a total annual revenue growth[21]. - The weighted average return on equity improved to 7.12% in 2024, up from -4.45% in 2023[19]. - The company received government subsidies amounting to ¥8,236,537.78 in 2024, slightly down from ¥8,460,329.32 in 2023[25]. Revenue Projections - The company's total revenue for 2024 is projected to be 8,793,068.12 million, a decrease of 32.5% from 12,977,999.45 million in 2023[26]. - The net income after tax for 2024 is expected to be 1,164,743.66 million, down from 2,145,138.16 million in 2023, indicating a decline of 45.6%[26]. Product Development and Market Position - The company plans to introduce a new product, enriched calcium phosphate, with a total P₂O₅ content greater than 36% and high effective phosphorus content, enhancing its fertilizer product matrix[32]. - The domestic feed-grade calcium phosphate market is expected to remain stable, with a total industrial feed production of 31,503.1 million tons in 2024, a decrease of 2.1% year-on-year[34]. - The company is positioned as a leading player in the wet-process phosphoric acid sector, being the only enterprise in China to produce food-grade purified phosphoric acid using self-developed technology[39]. - The global consumption of heavy calcium phosphate is approximately 5 million tons per year, with potential growth as agricultural practices become more intensive and scientific[32]. - The company’s feed-grade calcium phosphate products are essential for livestock and poultry, with demand remaining stable despite fluctuations in the feed industry[34]. Production and Capacity - The production capacity for Dihydrogen Calcium Phosphate (Dongchuan) is 100,000 tons/year with a utilization rate of 95.89%[50]. - The production capacity for Calcium Hydrogen Phosphate (Dongchuan) is 150,000 tons/year with a utilization rate of 66.59%[50]. - The production capacity for Calcium Hydrogen Phosphate III (Dongchuan) is 150,000 tons/year with a utilization rate of 10.58%[50]. - The production capacity for Heavy (Rich) Calcium (Dongchuan) is 150,000 tons/year with a utilization rate of 101.56%[50]. - The production capacity for Sodium Fluorosilicate (Dongchuan) is 10,000 tons/year with a utilization rate of 68.90%[50]. - The production capacity for Heavy (Rich) Calcium (Fangchenggang) is 140,000 tons/year with a utilization rate of 143.95%[50]. - The production capacity for Sodium Fluorosilicate (Fangchenggang) is 15,000 tons/year with a utilization rate of 115.64%[50]. - The production capacity for Industrial Wet Purification Phosphoric Acid (Fangchenggang) is 100,000 tons/year with a utilization rate of 154.73%[50]. Research and Development - Research and development investment totaled approximately 121.34 million yuan, marking a 37.51% increase year-over-year, with 21 new patent applications filed[70]. - The total R&D investment reached ¥121,335,204.30 in 2024, representing 3.78% of operating revenue, up from 3.25% in 2023[92]. - The company completed several R&D projects aimed at improving resource utilization efficiency and reducing production costs, including the development of methods for producing high-quality calcium phosphate from low-grade phosphate ore[89]. - The company is focusing on the development of high-value fertilizers from by-products, aiming to enhance the utilization of phosphoric acid resources[91]. - The company plans to enhance product quality by achieving a food-grade phosphoric acid with a sulfate content standard of 85%[91]. Financial Management and Governance - The company maintained a stable asset-liability ratio of 28.11%, with total assets of 3.609 billion yuan and total liabilities of 1.015 billion yuan[64]. - The company has established a governance structure that ensures clear responsibilities, mutual checks and balances, and scientific decision-making[144]. - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements for governance[146]. - The company has a complete and independent business system, with no interference from the controlling shareholder in its operations[154]. - The company has an independent financial accounting system and does not share bank accounts with the controlling shareholder[158]. Employee and Management Structure - The total number of employees at the end of the reporting period is 2,065, including 1,196 from the parent company and 869 from major subsidiaries[184]. - The professional composition includes 1,476 production personnel, 35 sales personnel, 59 technical personnel, 23 financial personnel, and 472 administrative personnel[184]. - The educational background of employees shows 1 with a doctorate, 14 with a master's degree, 201 with a bachelor's degree, and 1,849 with an associate degree or below[184]. - The company has established a performance evaluation and incentive mechanism for its directors and senior management[152]. - The company has a diverse board with members having extensive backgrounds in finance, management, and industry experience[166][167][168][169]. Risk Management - The company emphasizes risk management in its foreign exchange operations, adhering to strict guidelines to avoid speculative trading[112]. - The company is aware of exchange rate fluctuation risks as its export scale increases and has established systems to manage foreign exchange risks effectively[139]. - The company faces supply chain risks due to reliance on external raw material procurement and plans to strengthen supplier relationships and improve production technology to reduce material consumption[137]. Dividend Distribution - The company plans to distribute a cash dividend of 3 CNY per 10 shares to all shareholders, based on a total of 274,867,523 shares[5]. - The total cash dividend amount represents 12.17% of the distributable profit of 677,511,646.49 CNY[192]. - The company plans to distribute a cash dividend of 1.10 CNY per 10 shares, totaling 30,235,427.53 CNY, based on a total share capital of 274,867,523 shares as of December 31, 2023[190].