Financial Performance - The company's operating revenue for 2024 was ¥468,139,233.41, a decrease of 25.72% compared to ¥630,244,378.84 in 2023[19]. - The net profit attributable to shareholders for 2024 was ¥81,149,928.94, down 42.68% from ¥141,576,780.80 in 2023[19]. - The net profit after deducting non-recurring gains and losses was ¥70,728,317.35 in 2024, a decline of 49.09% from ¥138,924,142.66 in 2023[19]. - The net cash flow from operating activities decreased by 17.72% to ¥92,428,321.97 in 2024 from ¥112,329,628.19 in 2023[19]. - Basic earnings per share dropped by 56.86% to ¥0.66 in 2024, compared to ¥1.53 in 2023[19]. - Total assets at the end of 2024 were ¥1,555,432,481.01, a decrease of 7.06% from ¥1,673,599,805.32 at the end of 2023[19]. - The weighted average return on equity for 2024 was 5.50%, down from 22.28% in 2023[19]. - The company's total revenue for 2024 was ¥468.14 million, a decrease of 25.72% compared to ¥630.24 million in 2023[75]. - The revenue from the piperazine series products was ¥405.91 million, accounting for 86.71% of total revenue, down 26.00% from ¥548.55 million in 2023[75]. Dividend and Share Capital - A cash dividend of 5 RMB per 10 shares (including tax) will be distributed to all eligible shareholders, with no bonus shares issued[5]. - The company reported a total share capital of 123,200,000 shares as of December 31, 2024, with 120,831,106 shares available for distribution after excluding repurchased shares[5]. - The total share capital after the proposed capital increase will be 12,320,000 shares, following the distribution of 3,520,000 shares from capital reserves[176]. - The company plans to distribute cash dividends of RMB 60,415,553, which translates to RMB 5 per 10 shares, and will not issue bonus shares or increase capital from reserves[178]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential risks in the "Management Discussion and Analysis" section[5]. - A comprehensive risk assessment mechanism has been established, covering policy, technology, market, and financial risks, ensuring effective risk management[188]. - The company faces risks from fluctuations in raw material prices, which can significantly impact net profit and gross margin due to the lag in product cost adjustments[129]. - The company has implemented a major risk early warning mechanism and emergency response procedures to handle potential crises effectively[188]. Corporate Governance - The company has a structured governance framework, ensuring compliance with laws and regulations while protecting the interests of minority shareholders[138]. - The board of directors consists of 7 members, including 3 independent directors, ensuring effective oversight and decision-making processes[139]. - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors, supervisors, and senior management[140]. - The company strictly adheres to legal regulations and its information disclosure management system, ensuring timely and accurate information disclosure to all investors[141]. - The company has a complete financial accounting system and independent financial decision-making capabilities, without shared bank accounts with controlling shareholders[143]. Research and Development - The company invested ¥20.52 million in R&D throughout the year, focusing on developing competitive new products and enhancing core market competitiveness[71]. - The company has increased its R&D efforts to enhance core competitiveness and has received multiple awards for its technological advancements[60]. - The company is focusing on developing new products and optimizing production processes, including the continuous production of piperazine and the development of electronic chemicals[88]. - The company has developed several patented production technologies, enhancing its competitive edge in the market[54]. - Ongoing R&D projects aim to develop new products and improve existing processes, which could lead to increased sales revenue in the future[87]. Market Position and Strategy - The company operates in the fine chemical industry, focusing on the production of piperazine and its derivatives, which are used in various applications including pharmaceuticals and electronic chemicals[30]. - The company aims to enhance its competitive advantage in the organic amine fine chemicals sector, focusing on electronic chemicals, environmental chemicals, polymer materials, and pharmaceutical intermediates[123]. - The company is actively pursuing new strategies for market expansion and technological advancements in its product lines[152]. - The company plans to consolidate existing customer resources and expand market share by aligning product development with market needs[125]. Production and Supply Chain - The company has established a complete piperazine derivative industrial chain, leading in product variety, capacity, and quality within the industry[36]. - The company has a stable supply chain for raw materials, primarily using hexahydropiperazine and ethylenediamine from reputable suppliers[42]. - The company employs an "order-driven, moderate inventory" production model, maintaining safety stock based on historical order analysis for long-term clients[46]. - The company has achieved a high capacity utilization of 95.14% for triethylene diamine, indicating strong demand for this product[55]. Environmental and Safety Initiatives - The company is committed to environmental protection, updating its pollution control equipment to meet the latest standards and ensuring sustainable operations[132]. - The company has implemented strict safety measures for the handling of hazardous chemicals to minimize risks associated with production and transportation[133]. - The company is focusing on reducing waste generation in its production processes, aiming for a more sustainable operation[55]. Employee and Management Information - The total number of employees at the end of the reporting period is 380, with 248 from the parent company and 132 from major subsidiaries[172]. - The company has established a comprehensive internal training system to enhance employee skills and overall quality, including safety training for key positions[174]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 5.51 million yuan[161]. - The company has not made any changes to the use of raised funds that would affect the construction of fundraising projects or normal operations[111]. Financial Management - The company has received necessary approvals for safety production licenses and environmental assessments, ensuring compliance with regulations[57]. - The company has not reported any significant changes in the feasibility of its projects as of the end of the reporting period[109]. - The company plans to use part of the raised funds to increase capital for wholly-owned subsidiaries to implement new investment projects[164].
兴欣新材(001358) - 2024 Q4 - 年度财报