天味食品(603317) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥3,476,251,642.23, representing a 10.41% increase compared to ¥3,148,561,102.73 in 2023[20] - Net profit attributable to shareholders for 2024 was ¥624,635,066.00, a 36.77% increase from ¥456,697,459.03 in 2023[20] - The net profit after deducting non-recurring gains and losses was ¥566,128,976.88, up 40.00% from ¥404,371,618.92 in 2023[20] - The net cash flow from operating activities for 2024 was ¥820,343,767.29, an increase of 36.13% compared to ¥602,633,193.74 in 2023[20] - The total assets at the end of 2024 amounted to ¥5,661,512,054.19, reflecting a 7.35% increase from ¥5,273,690,813.13 at the end of 2023[21] - The net assets attributable to shareholders at the end of 2024 were ¥4,572,235,268.39, a 5.67% increase from ¥4,327,039,744.56 at the end of 2023[21] - Basic earnings per share increased to 0.5926 RMB, up 36.26% compared to the previous year[22] - Diluted earnings per share rose to 0.5885 RMB, marking a 36.64% increase year-on-year[22] - The weighted average return on equity improved to 14.43%, an increase of 3.44 percentage points from the previous year[22] Shareholder Returns - The company plans to distribute a cash dividend of ¥5.5 per 10 shares, totaling ¥584,585,532.30, which accounts for 97.62% of the net profit attributable to shareholders[4] - The company repurchased shares for a total cash amount of ¥25,166,461.78, which is considered equivalent to cash dividends[4] - The total cash distribution, including share repurchase, amounts to 609,751,994.08 RMB, accounting for 97.62% of the net profit attributable to ordinary shareholders[123] - Over the last three accounting years, the cumulative cash dividend (including tax) reached 1,250,065,897.58 RMB, with an average annual net profit of 474,345,732.7 RMB, resulting in a cash dividend ratio of 263.53%[124] - The company has not made any adjustments to its cash dividend policy during the reporting period, and the profit distribution complies with the company's articles of association[120] Market Strategy and Expansion - The company plans to continue expanding its market presence and enhancing product quality to meet consumer demands[32] - The company is actively expanding into international markets, particularly in emerging markets, to seek new growth opportunities[83] - The company has established a comprehensive marketing network covering 31 provincial regions and 290 municipal administrative areas, enabling sales at nearly 700,000 retail terminals nationwide[45] - The company is focusing on product innovation towards health and convenience, responding to changing consumer preferences[81] - The company is implementing a strategy of channel refinement and regional market operations to maximize channel efficiency and drive sales growth[84] Innovation and R&D - The company has applied for a total of 175 national patents, including 65 invention patents, with 27 authorized, and published 63 academic papers, demonstrating a strong commitment to innovation[47] - Research and development expenses increased by 12.86% to RMB 358.61 million[51] - The company has established a strong technical innovation capability and a rich reserve of technical talent, ensuring a competitive advantage in production processes and product formulations[90] - The company is implementing a five-dimensional innovation matrix to drive product updates and enhance flavor advantages, focusing on core raw material stability and modular process innovation[35] Risk Management - The company has outlined potential risks in its future development strategy, which investors should be aware of[7] - The company faces risks related to the seasonal nature of its product sales, with significant sales concentrated in the second half of the year[88] - The company recognizes the risk of intensified market competition as new entrants are attracted to the rapidly growing compound seasoning market[89] Corporate Governance - The company adheres to legal and regulatory requirements in corporate governance, ensuring clear responsibilities and checks among its governing bodies[92] - The company has conducted shareholder meetings in compliance with legal procedures, allowing all shareholders, especially minority shareholders, to exercise their voting rights[92] - The company has maintained a fair information disclosure process, ensuring all shareholders have equal access to company information[93] - The company has approved several key resolutions in its recent shareholder meetings, including the use of idle funds for cash management and the approval of the 2023 annual report[95] Environmental Responsibility - The company invested 3.31 million RMB in environmental protection during the reporting period[135] - The wastewater treatment facilities of the company and its subsidiaries achieved compliance with the Class 3 discharge standards of the "Comprehensive Wastewater Discharge Standards" (GB 8978-1996) in 2024, with COD levels ranging from 8.03 to 440.248 mg/L and ammonia nitrogen from 0.003 to 44.64 mg/L[135] - The company reported no instances of exceeding emission standards for wastewater and air pollutants in 2024[137] - The company has maintained ISO 14001 environmental management system certification, with the latest certification valid until June 2025[138] Financial Management - The company has invested a total of ¥5,949,800,000 in bank wealth management products from its own funds, with an outstanding balance of ¥1,252,200,000[153] - The company has also invested ¥4,100,600,000 in bank wealth management products using raised funds, with an outstanding balance of ¥1,140,000,000[153] - The company has ensured that all wealth management activities have followed legal procedures[155] - The company is actively managing its cash assets through entrusted financial management, reflecting a strategic approach to liquidity[155] Employee Engagement - The company has implemented a comprehensive training program aimed at enhancing leadership and management capabilities across different employee levels[118] - The company has a performance-based bonus policy linked to annual operational goals, rewarding employees based on their contributions[117] - The company has proposed a 2024 employee stock ownership plan, reflecting its commitment to employee engagement and retention[96] Share Structure and Ownership - The total number of shares held by the board members at the end of the reporting period is 72,236.69 million shares, a decrease of 9.10 million shares during the year[97] - The largest shareholder, Deng Wen, holds 627,303,020 shares, representing 58.9% of the total shares[192] - The total number of ordinary shareholders increased from 31,639 to 32,352 during the reporting period[189] - The company has not reported any significant changes in shareholder structure during the reporting period[177]