JINHUI(SH:603919)2025-03-21 12:40Financial Performance - The company achieved a net profit of ¥467,271,414.99 for the fiscal year 2024, with an unallocated profit at the end of the year amounting to ¥1,978,128,927.53 after distributing cash dividends of ¥197,167,099.53 for 2023[5]. - The proposed cash dividend distribution is ¥5 per 10 shares, totaling ¥248,415,527.00, which represents 64.00% of the net profit attributable to shareholders for 2024[5]. - The total cash dividend for 2024, including share repurchase amounts of ¥192,806,177.02, is projected to be ¥441,221,704.02, exceeding the net profit attributable to shareholders by 113.67%[6]. - The company achieved operating revenue of RMB 3.02 billion in 2024, representing an 18.59% increase compared to RMB 2.55 billion in 2023[25]. - Net profit attributable to shareholders reached RMB 388.15 million, up 18.03% from RMB 328.86 million in the previous year[25]. - Basic earnings per share increased to RMB 0.77, reflecting an 18.46% growth from RMB 0.65 in 2023[25]. - The company's operating costs increased by 23.37% to 1.18 billion RMB, primarily due to the rise in operating revenue[58]. - The company reported a total of 288 distributors in the province and 713 outside the province, with a net increase of 205 distributors in the latter[116]. Dividend Policy - The company does not plan to issue new shares or convert reserves into shares in the upcoming dividend distribution[5]. - The company emphasizes a cash dividend policy, ensuring that at least 30% of the net profit is distributed as cash dividends when conditions are met[189]. - The total cash dividend amount (including tax) for the last three accounting years is 597,760,625.63 RMB, with an average annual net profit of 332,417,761.96 RMB, leading to a cash dividend ratio of 179.82%[196]. - The cash dividend amount for the last fiscal year was 248,415,527 RMB, which is 64.00% of the net profit attributable to ordinary shareholders of 388,148,488.46 RMB[195]. Operational Efficiency - The net cash flow from operating activities increased by 23.95% to RMB 557.98 million, compared to RMB 450.17 million in 2023[25]. - The company has implemented a "dual-wheel drive strategy" to enhance brand influence and consolidate market position through various activities[36]. - The company focuses on user engineering transformation, optimizing resource allocation to improve operational efficiency and management levels[36]. - The company has established a salary management system that promotes a performance evaluation system to enhance overall performance and achieve strategic goals[182]. Market Expansion and Strategy - The company is focusing on digital transformation to enhance user engagement and satisfaction through a new membership operation system[35]. - The company is expanding its market presence in the Gansu-Qinghai region and the Shaanxi-Ningxia market, with continuous improvement in market share[35]. - The company aims to enhance brand influence and market share through personalized marketing activities and user engagement[107]. - The company plans to continue its strategy of "national layout, deep cultivation in the northwest, and key breakthroughs" in 2025[107]. Product Development and Innovation - The company optimized its product structure and marketing strategies, contributing to sustained sales growth[26]. - The proportion of mid-to-high-end products increased to 70.75%, with products priced above RMB 300 growing by 41.17%[33]. - The company has established a comprehensive R&D team and collaborates with universities to enhance product quality and innovation[43]. - Research and development expenses totaled 54,346,659.07 RMB, representing 1.80% of operating revenue[78]. Risk Management and Compliance - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has not faced any risks that would prevent a majority of directors from ensuring the authenticity and completeness of the annual report[10]. - The company adheres to legal and regulatory requirements in its governance practices, ensuring transparency and protection of shareholder rights[139]. Governance and Leadership - The company has a stable board of directors with no changes in shareholding for the current reporting period, indicating stability in leadership[156]. - The company has established a robust internal audit mechanism to evaluate key business processes and control effectiveness[150]. - The company has made continuous improvements to its internal control systems, enhancing risk management and operational efficiency[150]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to CNY 2,273.92 million[165]. Employee Management - The total number of employees in the parent company is 1,569, while the total number of employees in major subsidiaries is 1,444, resulting in a combined total of 3,013 employees[179]. - The company has established a talent training program focusing on leadership development and knowledge management to enhance employee capabilities[184]. - The company has implemented a dynamic salary growth mechanism based on performance points, allowing automatic salary level upgrades upon reaching target values[183]. - The company has a total of 868 employees with a bachelor's degree or higher, representing approximately 28.8% of the total workforce[181].