Jasan Group(603558)2025-03-24 10:35Financial Performance - The company achieved operating revenue of CNY 2,573,663,917.89, with an operating profit of CNY 382,048,740.02 and a net profit attributable to shareholders of CNY 324,927,590.72 for the year 2024[9]. - The company's revenue for 2024 reached approximately CNY 2.57 billion, representing a year-on-year increase of 12.81% compared to CNY 2.28 billion in 2023[28]. - Net profit attributable to shareholders for 2024 was CNY 324.93 million, reflecting a growth of 20.15% from CNY 270.43 million in 2023[28]. - The basic earnings per share for 2024 was CNY 0.89, up 20.27% from CNY 0.74 in 2023[29]. - The weighted average return on equity increased to 13.16% in 2024, up 2.22 percentage points from 10.94% in 2023[30]. - The company's cash flow from operating activities for 2024 was CNY 342.25 million, a decrease of 12.29% compared to CNY 390.19 million in 2023[28]. - The gross profit margin for total revenue improved to 28.34%, up from 25.27% in the previous year[74]. - The company reported a 13.31% increase in revenue from its OEM business, totaling 2,508,245,012.56 yuan[73]. Dividend and Profit Distribution - The proposed cash dividend is CNY 0.30 per share (before tax), with a total distribution amounting to CNY 105,954,944.70 based on 353,183,149 shares eligible for distribution[10]. - The company distributed a cash dividend of CNY 2.5 per 10 shares in 2023, totaling CNY 91,654,187.25, which represents 68.01% of the net profit attributable to shareholders for 2023[127]. - The company plans to distribute a cash dividend of CNY 2.0 per 10 shares for the first half of 2024, totaling CNY 71,917,989.80, based on a total share capital of 359,589,949 shares after accounting for repurchased shares[128]. - The total cash dividend amount for the most recent accounting year was CNY 105,954,944.70, which is 32.61% of the net profit attributable to shareholders[133]. - The cash dividend ratio over the last three accounting years is 256.49%, indicating a strong commitment to returning value to shareholders[134]. Operational Efficiency and Growth Strategy - The company is committed to becoming a global leader in integrated supply chain manufacturing of knitted sports apparel[2]. - The company plans to continue expanding its market presence and enhancing product quality to drive future growth[39]. - The company aims to transition from high-speed growth to high-quality development, focusing on R&D and smart manufacturing[81]. - The company is focusing on cost control and resource optimization to achieve new profit breakthroughs[83]. - The company plans to enhance operational efficiency and risk management to ensure long-term stability and competitiveness[83]. Research and Development - The company’s R&D expenses for the year were RMB 46,267,771.28, a decrease of 8.34% from the previous year[50]. - The total R&D expenditure amounted to CNY 64,465,423.82, representing 2.50% of the total revenue[61]. - The company has a total of 340 R&D personnel, accounting for 2.94% of the total workforce[62]. - The company has no R&D personnel with doctoral degrees, with the majority holding undergraduate (83) and associate degrees (92)[62]. Environmental Compliance and Sustainability - The company has implemented a pollution prevention facility that has reduced COD emissions by 34.9 tons, achieving a total discharge of 426,458 tons[166]. - The company has established a wastewater treatment facility with a daily processing capacity of 1,000 tons since 2012, ensuring compliance with the GB 18918-2002 standard for urban wastewater treatment plants[162]. - The company has successfully reduced ammonia nitrogen emissions by 3.5 tons through its wastewater treatment system[166]. - The company has established emergency response plans for environmental incidents, ensuring compliance with national standards and conducting annual training for employees[181]. - The company has implemented a strategy for environmental compliance, including regular monitoring and reporting of emissions and discharges[189]. Shareholder Engagement and Management - The company has authorized the board to decide on the mid-term profit distribution for 2024, reflecting flexibility in its dividend strategy[128]. - The total pre-tax remuneration for the chairman and CEO, Zhang Maoyi, was CNY 1.8412 million in the reporting period[99]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 10.8004 million CNY[107]. - The company has established a remuneration management method and performance assessment regulations for senior management compensation[107]. - The company has established a reward fund management system for the period of 2024-2032[97]. Market Expansion and Strategic Investments - The company is investing in a new production project in Vietnam with an annual capacity of 65 million pairs of mid-to-high-end cotton socks and 18,000 tons of yarn dyeing[41]. - The company plans to invest in a new project in Vietnam's Nam Dinh Province, indicating a strategy for market expansion[110]. - The company is focused on expanding its market presence through strategic investments and potential acquisitions[97]. - The company has established long-term partnerships with global brands such as UNIQLO, PUMA, and ADIDAS, contributing to stable order growth[40]. Internal Control and Audit - The company has effectively implemented internal control measures for its subsidiaries, with no significant deficiencies reported[144]. - The internal control audit report issued by Tianjian Accounting Firm provided a standard unqualified opinion[145]. - The audit committee held 4 meetings during the reporting period, approving key financial reports and the appointment of the auditing firm[115]. - The company has no dissenting opinions or risks identified by the supervisory board during the reporting period[119].