ZFTC(SH:600794)2025-03-17 08:35Dividend Distribution - The company distributed a total cash dividend of RMB 84,010,650.99 for the year 2024, accounting for 40.05% of the net profit attributable to shareholders [8]. - The profit distribution plan for 2024 proposes a cash dividend of RMB 0.30 per 10 shares, totaling RMB 36,004,564.71, subject to shareholder approval [7]. - The company has completed the distribution of a cash dividend of RMB 0.40 per 10 shares for the first half of 2024, amounting to RMB 48,006,086.28 [7]. - The cumulative cash dividend over the last three fiscal years reached CNY 229,229,061.99, with an average net profit of CNY 208,465,534.69, resulting in a cash dividend ratio of 109.96% [134]. Financial Performance - The company reported total revenue of CNY 899,881,404.81 in 2024, a decrease of 39.96% compared to CNY 1,498,734,055.14 in 2023 [24]. - Net profit attributable to shareholders was CNY 209,774,490.33, down 16.83% from CNY 252,234,144.85 in the previous year [24]. - The net profit after deducting non-recurring gains and losses was CNY 180,599,104.89, reflecting a decline of 20.28% from CNY 226,534,131.87 in 2023 [24]. - The company achieved a total profit of CNY 28,880,240.00, a decline of 14.18% compared to the previous year [33]. - The company’s cash flow from operating activities showed a significant increase, reaching CNY 829,257,914.84, up 167.54% from CNY 309,961,274.62 in 2023 [24]. - Basic earnings per share decreased to CNY 0.17, down 19.05% from CNY 0.21 in 2023 [25]. - The weighted average return on equity fell to 8.18%, a decrease of 2.20 percentage points from 10.38% in 2023 [25]. - The total assets of the company were CNY 3,425,625,391.01 at the end of 2024, down 14.87% from CNY 4,024,182,433.42 at the end of 2023 [24]. Operational Risks and Governance - The company has outlined various operational risks and corresponding mitigation strategies in the management discussion section [11]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties reported [10]. - The company has not violated any decision-making procedures regarding external guarantees [10]. - The company emphasizes the uncertainty of future plans and strategies, advising investors to be aware of investment risks [9]. - The company has established a comprehensive internal control system to ensure compliance with laws and regulations, enhancing decision-making efficiency and protecting shareholder interests [137]. - The internal control audit report issued by the auditing firm provided a standard unqualified opinion, confirming the effectiveness of the internal control system [138]. Market Position and Business Expansion - Jiang International maintains a leading position in the storage market with a national import market share of approximately 36% for ethylene glycol and 47% for diethylene glycol [34]. - The company is actively exploring new markets and expanding its business despite the challenging environment [33]. - The company is positioned in the petrochemical storage industry, which is crucial for China's economy, with a strong demand for ethylene glycol driven by polyester production [39]. - The company is actively pursuing digital transformation in logistics, aligning with national strategies to enhance third-party logistics and digital platforms [40]. Research and Development - The company holds a total of 51 patents, including 23 national invention patents and 28 utility model patents [48]. - Research and development expenses amounted to CNY 16.85 million, a decrease of 5.64% compared to the previous period [60]. - R&D expenses accounted for 1.87% of total operating revenue [61]. - The proportion of R&D personnel to total employees was 15.54%, with a total of 76 R&D staff [63]. Corporate Governance and Management - The company has established a comprehensive corporate governance structure in accordance with relevant laws and regulations [95]. - The board of directors consists of 7 members, including 3 independent directors, ensuring a balanced governance structure [96]. - The supervisory board independently monitors the performance of directors and the legality of financial operations [96]. - The company emphasizes investor relations management, ensuring timely communication and transparency with investors [97]. - The company’s board of directors includes experienced professionals with backgrounds in finance and management, enhancing its governance structure [103]. Environmental and Social Responsibility - The company invested 3.74 million yuan in environmental protection during the reporting period [140]. - Jiangsu International was awarded "Jiangsu Province Three-Star Green Port" for its commitment to green development [142]. - The company achieved a 100% collection rate for production and domestic sewage, ensuring compliance with wastewater treatment standards [142]. - Total donations for social responsibility projects amounted to 599,000 yuan, including 586,500 yuan in cash donations [146]. Audit and Compliance - The company plans to continue employing Zhongxi Accounting Firm for the 2024 annual financial report and internal control audits, affirming their professional capabilities [117]. - The audit opinion confirmed that the financial statements fairly represent the company's financial position as of December 31, 2024, in accordance with accounting standards [186]. - The company has implemented various audit procedures to ensure the accuracy of revenue recognition, including testing internal controls and analyzing sales contracts [187]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 56,408, an increase from 55,537 at the end of the previous month [170]. - The largest shareholder, Zhangjiagang Free Trade Zone Jinguang Asset Management Co., Ltd., holds 432,517,788 shares, representing 35.68% of the total shares [172]. - The company completed a share repurchase of 12,000,000 shares, accounting for 0.99% of the total share capital [173]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 7.5981 million [110].