Dunhuang Seed(SH:600354)2025-03-21 15:00Financial Performance - The company achieved a net profit of CNY 117,005,536.56 for the year 2024, with a net profit attributable to shareholders of CNY 49,876,394.67, representing a 22.26% increase compared to the previous year[4]. - Operating revenue for 2024 was CNY 1,155,927,318.74, a slight decrease of 0.16% from CNY 1,157,762,417.27 in 2023[20]. - The net cash flow from operating activities increased by 13.95% to CNY 276,550,980.42 compared to CNY 242,696,128.26 in 2023[20]. - The company's total assets at the end of 2024 were CNY 1,994,093,930.13, reflecting a 3.95% increase from CNY 1,918,250,310.10 in 2023[20]. - The basic earnings per share for 2024 was CNY 0.0945, up 22.25% from CNY 0.0773 in 2023[21]. - The weighted average return on equity increased to 7.98% in 2024, up by 0.92 percentage points from 7.06% in 2023[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 32,929,535.17, a decrease of 8.21% from CNY 35,874,533.24 in 2023[20]. - The company’s net assets attributable to shareholders increased by 8.92% to CNY 651,749,893.28 at the end of 2024[20]. Revenue Breakdown - The seed industry generated operating revenue of 833.26 million yuan, down 4.84% from the previous year, with net profit of 125.68 million yuan, a decrease of 0.07%[29]. - The food industry reported operating revenue of 243.35 million yuan, a growth of 21.94%, and net profit of 28.99 million yuan, up 158.52% year-on-year[30]. - The company achieved operating revenue of 1,155.93 million yuan in 2024, a slight decrease of 0.16% compared to the previous year[29]. - The company reported a total revenue of 4,742.96 million yuan from cotton sales, with a gross profit margin of 87.45%[60]. Research and Development - The company is committed to increasing R&D investment to enhance its technological innovation capabilities[30]. - Research and development expenses rose by 22.87% to CNY 20.31 million, indicating a commitment to innovation[39]. - The company has established partnerships with leading research institutions to improve core inbred lines and regional advantageous varieties[31]. - The company plans to increase R&D investment and enhance the commercialization breeding system, focusing on the development of major varieties and genetically modified varieties[69]. Market Strategy and Expansion - The company has strengthened its production management and adjusted sales strategies to enhance market share and sales volume of its proprietary varieties[29]. - The company plans to expand its transgenic variety commercialization, with 64 transgenic corn and 17 soybean varieties approved for production[33]. - The company aims to enhance its market position through strategic mergers and acquisitions, leveraging its financial strength to consolidate its operations[63]. - The company is focusing on expanding its agricultural technology services, including seed production and sales, as well as agricultural consulting and training[61]. Environmental and Social Responsibility - The company invested CNY 800,000 in upgrading wastewater treatment facilities, increasing treatment capacity from 4,500 cubic meters to 6,300 cubic meters per day[110]. - The wastewater treatment station was upgraded to meet the Grade A standard of the Urban Wastewater Discharge Standard (GB/T31962-2015)[110]. - The company contributed CNY 256,500 to poverty alleviation and rural revitalization projects, benefiting local farmers[112]. - Over 5,000 farmers received training to enhance their agricultural productivity and income[112]. Governance and Compliance - The company held 3 shareholder meetings during the reporting period, ensuring compliance with relevant laws and regulations[80]. - The board of directors consists of 9 members, including 3 independent directors, and held 10 meetings during the reporting period[76]. - The company published 4 regular reports and 43 temporary announcements, ensuring transparency and timely information disclosure[77]. - The company has established a fair and transparent performance evaluation and incentive mechanism for directors and senior management[76]. Future Outlook - The company projects a revenue growth of 10% for the next fiscal year, targeting 1.32 billion CNY[87]. - Gansu Dunhuang Seed Industry plans to expand its market presence through strategic partnerships and new product launches in 2025[200]. - The management highlighted a focus on sustainability and innovation as key drivers for future growth[200]. - The company aims to enhance its operational efficiency and market presence through strategic management practices[84].