国际实业(000159) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥2,576,415,793.29, a decrease of 42.93% compared to ¥4,514,450,378.56 in 2023[20]. - The net profit attributable to shareholders for 2024 was a loss of ¥438,782,036.33, representing a decline of 643.01% from a profit of ¥80,805,213.75 in 2023[20]. - The cash flow from operating activities for 2024 was ¥447,826,258.77, a significant increase of 1,165.74% compared to a cash outflow of ¥42,020,165.13 in 2023[20]. - The total assets at the end of 2024 were ¥3,426,764,065.84, down 7.71% from ¥3,713,021,206.38 at the end of 2023[20]. - The net assets attributable to shareholders decreased by 17.15% to ¥2,022,368,712.27 at the end of 2024 from ¥2,441,000,722.96 at the end of 2023[20]. - The company reported a basic earnings per share of -¥0.9128 for 2024, compared to ¥0.1681 in 2023, marking a decline of 643.01%[20]. - The company's revenue after deducting non-recurring gains and losses for 2024 was ¥2,553,461,750.78, compared to ¥4,438,941,996.29 in 2023[21]. - The company achieved operating revenue of 2.576 billion RMB, a decrease of 42.93% year-on-year, and a net profit attributable to the parent company of -438.78 million RMB, a decline of 643.01% year-on-year[40]. Market and Industry Trends - In 2024, China's refined oil consumption is projected to be 390 million tons, a year-on-year decrease of 2.4%, indicating a peak in consumption and a shift to a reduction phase[31]. - The average operating rate of Chinese refineries in 2024 is expected to be 74.9%, down 4.0 percentage points year-on-year, with major refineries at 85.2% and other local refineries at 56.8%[31]. - Domestic gasoline and diesel prices are expected to decrease by approximately 130 RMB and 125 RMB per ton respectively compared to the end of 2023, translating to a reduction of about 0.11 RMB per liter[32]. - The average growth rate of China's styrene production capacity is expected to stabilize at around 5%-10% over the next three years, driven by new production facilities coming online[33]. - The photovoltaic support structure industry is benefiting from rapid growth in global photovoltaic installations, particularly in China, which is the largest photovoltaic market[36]. Business Strategy and Operations - The company plans to divest its real estate development and sales business by transferring 100% equity of two real estate companies in 2024[19]. - The company plans to leverage its existing fuel oil import qualifications and energy trading advantages to expand its bulk trade business in oil and chemical products[34]. - The company aims to enhance its market share in the metal structure manufacturing sector, particularly in power transmission towers and photovoltaic support structures, to meet increasing demand in the power, communication, and solar energy sectors[37]. - The company will continue to focus on expanding its diverse trading business while effectively controlling risks and improving profitability in its wholesale operations[40]. - The company is actively expanding its market presence and diversifying its operations to enhance competitiveness amid a challenging market environment[48]. Investments and Divestitures - The company divested its real estate subsidiaries for a total of CNY 254 million, ceasing its involvement in the real estate business[52]. - The company plans to issue stocks to specific targets with a total fundraising amount not exceeding 30,000 million, intended for bridge steel structure projects and to supplement working capital[188]. - The company decided to transfer 100% equity of its wholly-owned subsidiaries for a total price of 25,400 million, which will impact the company's performance by approximately -54,601.03 million[189]. Governance and Management - The company has a board of directors with a mix of current and independent members, ensuring diverse governance[109]. - The term for the current board members extends from 2022 to 2027, indicating stability in leadership[109]. - The company is focused on maintaining its governance structure with regular updates on board member changes[110]. - The company has appointed Sun Li as the new chairman of the supervisory board on May 17, 2024, following the resignation of Feng Xianzhi[112]. - The company continues to engage in regular shareholder meetings to discuss governance and performance updates[108]. Financial Controls and Compliance - The internal control system has been continuously improved, ensuring compliance with relevant laws and regulations, with a focus on effective governance[142]. - The internal control evaluation report indicated that 95.02% of total assets and 97.05% of total revenue were included in the evaluation scope[145]. - No significant internal control deficiencies were identified during the reporting period[147]. - The company maintained effective financial reporting internal controls as of December 31, 2024, according to the internal control audit report[147]. Employee and Labor Relations - The total number of employees at the end of the reporting period is 648, with 68 in the parent company and 580 in major subsidiaries[136]. - The company adheres to a competitive, fair, and performance-oriented salary policy, aligning with national labor laws and local regulations[137]. - The company has established a comprehensive training system, focusing on internal control, safety production, professional knowledge, and management skills training[138]. Legal and Regulatory Matters - The company is currently involved in several lawsuits, with a total claim amount of ¥3,626.05 million related to a case against Xinjiang Potash Salt Company[166]. - The company is also pursuing a claim for remaining project payments and late performance interest in a construction contract dispute, with a claim amount of ¥588.76 million[166]. - There are no penalties or rectification situations reported during the period[167]. Shareholder Information - The total number of shares held by the top ten unrestricted shareholders amounts to 142,000,000 ordinary shares[200]. - The largest shareholder, Xinjiang Rongneng, has pledged 76,796,221 shares[199]. - The company maintains a stable shareholder structure with no significant fluctuations in major holdings during the reporting period[200].