Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 6,266.3 million, an increase of 28.6% year-on-year[3]. - Gross profit reached RMB 3,016.1 million, reflecting a year-on-year increase of 29.9%[3]. - Net profit for the year was RMB 1,068.1 million, up 21.3% compared to the previous year[3]. - Basic earnings per share increased to RMB 0.46, representing a 21.1% rise year-on-year[3]. - The company reported a gross margin of 48.1%, which is an increase of 0.4 percentage points year-on-year[3]. - Operating profit for the year was RMB 1,401.0 million, up from RMB 1,103.7 million in 2023[5]. - Other income netted RMB 76,980 thousand in 2024, significantly higher than RMB 43,470 thousand in 2023, driven by government subsidies and sales of waste materials[29]. - The profit attributable to equity holders for 2024 is RMB 1,068,512,000, an increase of 21.4% from RMB 880,354,000 in 2023[46]. - The company recorded a total revenue of RMB 6,266.3 million for the year, an increase of 28.6% compared to the previous year[55]. - Net profit reached RMB 1,068.1 million, representing a 21.3% increase year-over-year[55]. Dividends - The proposed final dividend is RMB 0.11 per ordinary share, with a special dividend of RMB 0.18 per ordinary share[3]. - The total amount of dividends declared for the year ending December 31, 2024, is RMB 376,183,000, with an interim dividend of RMB 0.16 per share[49]. - The company approved a profit distribution plan for the year ending December 31, 2023, with a final dividend of RMB 0.10 per share, totaling RMB 235,115,000[48]. - The group proposed a final dividend of RMB 0.11 per share, totaling approximately RMB 258.6 million, which is about 24% of the net profit for the year[106]. - The company plans to distribute a final dividend of RMB 0.11 per share for the year ending December 31, 2024, totaling approximately RMB 258.6 million, and a special dividend of RMB 0.18 per share, totaling approximately RMB 423.2 million[133]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 8,182.4 million, compared to RMB 7,053.5 million in 2023[8]. - Total liabilities increased to RMB 2,175.98 million from RMB 1,347.68 million in the previous year[10]. - The company has unallocated retained earnings of RMB 2,830,214,000 as of December 31, 2024, down from RMB 2,889,370,000 in 2023, with no provision for withholding tax[41]. - The company’s deferred tax liabilities increased to RMB 86,064,000 in 2024 from RMB 60,144,000 in 2023, reflecting changes in tax positions[35]. - The total liabilities increased to RMB 826,627,000 in 2024 from RMB 662,744,000 in 2023, reflecting a growth of 24.7%[53]. Revenue Breakdown - Revenue from the Chinese market amounted to RMB 6,187,110 thousand in 2024, up 29.5% from RMB 4,774,043 thousand in 2023[26]. - Sales from vegetable products surged by 59.1% to RMB 3,370.6 million, increasing its share of total revenue from 43.5% to 53.8%[75]. - Revenue from seasoning noodle products grew by 4.6% to RMB 2,667.1 million, but its share of total revenue decreased from 52.3% to 42.6%[74]. - Offline channels generated revenue of RMB 5,561.6 million, up 27.5% from RMB 4,361.2 million, maintaining a stable share of 88.8% of total revenue[80]. - Online channel revenue increased by 38.1% to RMB 704.7 million, with online distribution revenue rising by 43.1% to RMB 280.4 million and online direct sales increasing by 34.9% to RMB 424.3 million[80]. Operational Efficiency - The production capacity utilization rate improved to 77.7% in 2024 from 55.3% in 2023, indicating enhanced operational efficiency[84]. - The actual production of seasoning noodle products was 132,113.9 tons in 2024, with a utilization rate of 65.4%, compared to 114,791.6 tons and 48.3% in 2023[84]. - The design capacity for vegetable products increased to 129,986 tons in 2024, with an actual output of 125,116.3 tons, achieving a high utilization rate of 96.3%[84]. - The company emphasizes quality control and food safety, implementing a comprehensive management system covering all production stages[87]. - The company is committed to innovation and R&D to meet the diverse needs of consumers for healthier and tastier snack foods[87]. Market Strategy - The company launched several new products that resonated well with consumer preferences, enriching its product matrix[56]. - The company expanded and optimized its sales channels, enhancing cooperation with traditional retail and exploring new retail formats[56]. - Marketing strategies focused on creating a youthful and personalized brand image, successfully engaging younger consumers[57]. - The company emphasizes a multi-category product strategy, covering various snack types to solidify its leadership in the spicy snack market[71]. - The company is actively expanding its presence on e-commerce platforms, including Tmall and JD.com, to improve product visibility and consumer engagement[78]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial results for the year ending December 31, 2024, ensuring compliance with applicable accounting principles[141]. - The financial statements for the year ending December 31, 2024, have been verified by Ernst & Young, confirming consistency with the group's consolidated financial reports[142]. - The company has adhered to all applicable provisions of the corporate governance code as of December 31, 2024[143]. - The company has adopted the standard code for securities trading by directors, confirming compliance by all directors as of December 31, 2024[144]. Future Outlook - Looking ahead, the company plans to strengthen product innovation and brand building while expanding sales channels[58]. - The company aims to enhance employee experience and growth within a sustainable work environment to drive long-term development[65]. - The company is committed to advancing its digital transformation to improve operational efficiency and drive business innovation[132]. - The company will continue to deepen its multi-category strategy, develop innovative products, and drive iterations of existing products to meet diverse consumer needs[129]. - The company will actively explore new business opportunities in emerging channels while optimizing traditional channel layouts to enhance market penetration[131].
卫龙美味(09985) - 2024 - 年度业绩