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秉扬科技(836675) - 2024 Q4 - 年度财报
BYTBYT(BJ:836675)2025-03-27 13:40

Financial Performance - Total revenue for 2024 reached ¥607,145,720.74, representing a year-over-year increase of 12.62% compared to ¥539,120,589.49 in 2023[26]. - Net profit attributable to shareholders decreased by 26.13% to ¥50,718,637.47 from ¥68,660,565.09 in the previous year[26]. - The company's total assets at the end of 2024 were ¥925,670,951.77, a slight decrease of 0.45% from ¥929,870,760.86 in 2023[25]. - Operating cash flow increased significantly by 23.45% to ¥72,999,031.62 compared to ¥59,131,193.13 in 2023[25]. - The gross profit margin for 2024 was 18.14%, down from 21.72% in 2023, reflecting increased costs[26]. - The weighted average return on equity (based on net profit) decreased to 8.63% from 12.23% in the previous year[26]. - The company reported a basic earnings per share of ¥0.30, down 25.00% from ¥0.40 in 2023[26]. - The accounts receivable turnover ratio was 3.64, a decline from 4.06 in the previous year, indicating slower collection of receivables[25]. - The company achieved operating revenue of 607.15 million yuan, an increase of 68.03 million yuan, representing a growth of 12.62% compared to the previous year[42]. - The net profit attributable to shareholders was 50.72 million yuan, a decrease of 17.94 million yuan, reflecting a decline of 26.13% compared to the previous year[42]. - The sales revenue from proppants amounted to 590.99 million yuan, an increase of 67.11 million yuan, with a growth rate of 12.81% year-on-year[43]. - The company reported a net profit of CNY 50,718,637.47 for 2024, with a difference of CNY 22,280,394.15 attributed to non-cash items such as depreciation and amortization[70]. - The company’s revenue is highly dependent on major clients, with sales to the top five clients accounting for 99.89% of total revenue in 2024[107]. Investments and Acquisitions - The company acquired 21.80% of Linxi Huateng Trading Co., Ltd. and 100% of Shaanxi Haona Industrial Co., Ltd. to enhance its fracturing proppant business and improve production capabilities[6]. - The establishment of a wholly-owned subsidiary, Xinjiang Chenyu New Materials Co., Ltd., with an investment of 10 million RMB, aims to expand the company's market presence in Xinjiang[6]. - The company plans to invest up to 10 million RMB to acquire 22.00% of Xinjiang Xuhui Industry and Trade Co., Ltd., further strengthening its market position[6]. - The company made significant equity investments totaling CNY 22,849,012.30 during the reporting period, with notable investments in quartz sand and ceramic sand production[73]. - The company has made significant investments in quartz sand procurement through its subsidiaries, Linxi Huaten and Leshan Taizhong, to further develop its quartz sand business[81]. Research and Development - The company increased its R&D investment to enhance production efficiency and competitiveness, leading to a rise in R&D expenses[43]. - Research and development expenses increased by 13.97% to ¥19,149,087.10, accounting for 3.15% of total revenue[56]. - The company holds 63 patents, including 16 invention patents, indicating a strong focus on innovation[89]. - The company is developing new processes and technologies aimed at improving product quality and resource utilization efficiency, which will enhance market competitiveness[90]. - The company plans to increase collaboration with research institutions to enhance R&D capabilities and improve product competitiveness[105]. Market and Sales - The sales volume of fracturing proppants reached 811,800 tons, an increase of 154,900 tons, with a growth rate of 23.59% year-on-year[42]. - The company sold 186,800 tons of ceramic proppants, an increase of 36,000 tons, with a growth rate of 23.91% year-on-year[42]. - The main business revenue from ceramic aggregate increased by 10.28%, driven by a sales volume increase of 3.60 million tons[64]. - The Southwest region's revenue declined by 5.61%, mainly due to decreased sales volume and prices of ceramic aggregates and quartz sand[65]. Financial Position and Cash Flow - The company's cash and cash equivalents decreased by 28.17% to 86.47 million yuan, primarily due to the repayment of short-term bank loans[52]. - Accounts receivable increased by 76.41% to 212.93 million yuan, driven by expanded business scale and increased sales volume[52]. - Long-term equity investments rose by 45.71% to 7.34 million yuan, mainly due to the acquisition of a 21.80% stake in Linxi Huaten to further expand the quartz sand business[52]. - Short-term borrowings decreased by 38.73% to 79.38 million yuan, reflecting the company's repayment of bank loans based on actual funding conditions[52]. - The net cash flow from operating activities was 72.99 million yuan, a year-on-year increase of 23.45%[44]. - The cash flow from investment activities for 2024 was CNY -14,768,240.36, an improvement of 14.68% from CNY -17,309,281.60 in 2023[69]. Corporate Governance and Shareholder Matters - The company has a total of 9 board members and 3 supervisory board members[153]. - The total remuneration for the company's directors, supervisors, and senior management in 2024 amounted to 2.9371 million yuan[161]. - The company has ensured that minority shareholders have sufficient opportunities to express their opinions and protect their legal rights[148]. - The company held 11 board meetings during the reporting period, addressing significant matters including the approval of the 2023 annual report and financial budget for 2024[176]. - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders on May 27, 2024[123]. - The cash dividend distribution was completed on May 27, 2024, in accordance with the profit distribution policy[147]. - The company has not experienced any share pledges or judicial freezes among its major shareholders[137]. Compliance and Risk Management - The company has maintained compliance with legal procedures for major decisions throughout the reporting period[174]. - The audit report issued by Zhonghui Certified Public Accountants confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2024[197]. - The audit report did not contain any reservations, indicating a clean audit opinion[196]. - The company has not experienced any significant accounting errors or omissions during the reporting period[191]. - No new risk factors were identified during the reporting period[109]. - The company faces risks from market competition and price fluctuations in the proppant market, which could adversely affect its revenue growth[107]. Social Responsibility and Sustainability - The company is committed to sustainable resource utilization and reducing production costs through innovative technologies[93]. - The company emphasizes the importance of environmental protection and resource recycling in its production processes[101]. - The company has implemented a mechanism to support employees in need, contributing to social welfare and community development[99]. - The company adheres to legal operations and actively pays taxes, contributing to local economic development[100].