Xinhua Winshare(601811)2025-03-28 06:00Financial Performance - The net profit attributable to shareholders for the fiscal year 2024 is CNY 1,544.86 million[4]. - The company's operating revenue for 2024 reached ¥12,328,513,892.29, representing a 3.88% increase compared to ¥11,868,490,425.19 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥1,544,856,196.33, a decrease of 2.17% from ¥1,579,146,004.64 in 2023[22]. - The net profit after deducting non-recurring gains and losses was ¥1,658,227,272.52, showing a 2.10% increase from ¥1,624,041,984.43 in 2023[22]. - The total assets of the company increased by 5.10% to ¥22,898,703,360.27 in 2024 from ¥21,787,563,374.32 in 2023[23]. - The basic earnings per share for 2024 was ¥1.25, down 2.34% from ¥1.28 in 2023[24]. - The weighted average return on equity decreased to 11.13% in 2024 from 12.25% in 2023, a reduction of 1.12 percentage points[24]. - The cash flow from operating activities for 2024 was ¥1,772,478,831.63, a significant decrease of 24.67% compared to ¥2,353,028,211.32 in 2023[22]. - The company reported a total net asset value of ¥14,606,455,619.02 at the end of 2024, an increase of 11.75% from ¥13,070,948,143.35 at the end of 2023[22]. - The company achieved a revenue of 12.33 billion RMB, representing a year-on-year growth of 3.88% primarily due to increased sales of general books[52]. - The net profit for the period was 1.60 billion RMB, a decrease of 1.52% mainly due to changes in tax incentives for cultural enterprises[52]. Dividend and Profit Distribution - The proposed cash dividend is CNY 4.10 per 10 shares, totaling CNY 505.87 million to be distributed[4]. - The annual shareholders' meeting is scheduled for May 20, 2025, to approve the profit distribution plan[11]. - The cash dividend distribution plan indicates that the cash dividends will account for 32.75% of the net profit attributable to shareholders[170]. - Over the last three fiscal years, the cumulative cash dividend amount (including tax) reached CNY 1.875 billion, with an average cash dividend payout ratio of 121.70%[172]. Risk Management and Compliance - The company has confirmed no significant risks that could materially affect its operations during the reporting period[6]. - The company has received a standard unqualified audit opinion from KPMG Huazhen[3]. - There are no non-operational fund occupations by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for external guarantees[6]. - The financial report is guaranteed to be true, accurate, and complete by the responsible parties[3]. - The company has outlined potential risk factors in the management discussion and analysis section of the report[6]. - The company has established a comprehensive internal control and risk management system, with no significant monitoring failures reported during the period[128]. - The company has ensured compliance with commitments to avoid competition with its subsidiaries and will not restrict normal business opportunities[191]. Operational Highlights - The company launched 1,291 new integrated products, including e-books, audiobooks, and digital collectibles, enhancing its publishing offerings[34]. - The company’s online service platform "Wenxuan Youxue" now covers over 6,000 schools and serves more than 4.75 million students[35]. - The company reported a logistics revenue of 258 million, reflecting its efforts to enhance supply chain digitalization and service quality[38]. - The company’s book fair attracted 58 million visitors online and offline, generating sales of 105 million in books and cultural products[40]. - The company’s general book publishing market share ranked 9th nationally and 6th among local peers[34]. - The company’s investment in digital publishing is aimed at enhancing its business system and exploring new business models[39]. - The company implemented a "one city, one policy" strategy to address the decline in student numbers and optimize product quality[35]. - The company’s logistics network efficiency improved with the establishment of a new transportation hub in North China[38]. Research and Development - The company's R&D expenses increased by 52.47% to 30.46 million RMB, reflecting higher investments in business management systems and technology innovation applications[53]. - The total R&D investment for the current period is CNY 21,038,763.87, representing 0.17% of operating revenue[68]. - The number of R&D personnel is 75, accounting for 1.00% of the total workforce[69]. - The company is committed to enhancing its research and development efforts to innovate new technologies and products[136]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, complying with relevant legal requirements[124]. - The supervisory board has 6 members and has conducted 6 meetings to oversee the company's management and financial status, ensuring compliance with laws and regulations[125]. - The company has appointed new independent directors and supervisors, including Mr. Han Wenlong and Mr. Xue Feng, to enhance governance[135]. - The company plans to hold its annual general meeting on May 21, 2024, to discuss various proposals including the 2023 financial report and profit distribution[131]. Environmental and Social Responsibility - The company invested CNY 3.001 million in environmental protection initiatives during the reporting period[179]. - 四川新华印刷在2023年度被评为“四川省年度企业环境信用评价诚信企业”，连续四年获得该荣誉[182]. - 四川新华印刷在报告期内组织回收书刊约4,160.25吨，支持环保教育事业[184]. - 公司在环保方面采取了多项措施，包括使用低挥发性油墨和无醇润版液，有效降低了油烟、粉尘和废水的排放[182]. - 公司在报告期内的社会责任总投入为4,350.68万元，其中资金投入为2,453.45万元，物资折款为1,897.23万元[188]. Future Outlook - The company anticipates a significant policy boost for the cultural industry during the "14th Five-Year Plan" period, which will support high-quality development in publishing and related sectors[111]. - The company aims to enhance its content supply capabilities by focusing on high-quality publications and integrating publishing resources, targeting a revenue of RMB 105,728.78 million and a net profit of RMB 49,569.94 million for Sichuan Education Publishing Co., Ltd. in 2024[110]. - The company is focused on international communication enhancement to improve its global competitiveness and promote Chinese culture abroad[113]. - The company is set to build a comprehensive cultural service group with international influence by focusing on the publishing media industry and innovating its development model[114].