HACL(SH:600598)2025-03-28 12:35Financial Performance - The company's operating revenue for 2024 reached ¥5,338,741,595.35, representing a 5.83% increase compared to ¥5,044,443,383.20 in 2023[27] - Net profit attributable to shareholders for 2024 was ¥1,087,210,049.06, a 2.21% increase from ¥1,063,714,016.98 in 2023[27] - Basic earnings per share for 2024 were ¥0.612, up 2.34% from ¥0.598 in 2023[30] - The total profit for the period was 1.103 billion RMB, a decrease of 0.08 billion RMB, or 0.7% year-on-year[61] - The company achieved total operating revenue of 5.339 billion RMB in 2024, an increase of 294 million RMB or 5.83% year-on-year[38] Cash Flow and Dividends - The cash dividend payout ratio for the year was 89.93%, with a proposed cash dividend of ¥5.5 per 10 shares, totaling approximately ¥977,723,949.95[8] - The net cash flow from operating activities for 2024 was ¥1,493,811,338.89, a slight decrease of 1.38% from ¥1,514,679,557.35 in 2023[27] - The company reported a net cash flow from operating activities of 5.103 billion RMB, with significant cash outflows in subsequent quarters[33] - The cumulative cash dividend amount over the last three accounting years was approximately ¥2.51 billion, with an average cash dividend payout ratio of 240.53%[146] Assets and Liabilities - Total assets as of the end of 2024 amounted to ¥8,975,122,997.23, reflecting a 3.17% increase from ¥8,699,471,081.80 at the end of 2023[29] - The net assets attributable to shareholders increased by 3.92% to ¥7,797,275,364.17 from ¥7,503,446,906.65 in 2023[29] - The company’s asset-liability ratio improved to 15.39%, a decrease of 0.69 percentage points from the previous year[38] - The company reported a decrease in total liabilities to 1.382 billion RMB, down by 170 million RMB, or 1.25% year-on-year[61] Agricultural Operations - The agricultural segment generated 5.265 billion RMB in revenue, a year-on-year increase of 4.02%, while total profit decreased by 4% to 1.119 billion RMB[38] - The company achieved a production of high-quality crops including rice, corn, and soybeans totaling 12.17 billion jin in 2024[51] - The agricultural mechanization rate in the region exceeded 99%, with a total of 336,200 agricultural machines and a total power of 3.6473 million kilowatts by the end of 2024[54] - The company has established a comprehensive agricultural technology service system with 16 agricultural technology promotion centers, ensuring effective pest control and crop management[52] Research and Development - Research and development expenses increased to 949 million RMB, up by 5.95% year-on-year, reflecting the company's commitment to agricultural research[64] - The company conducted 180 technology training sessions, promoting 9 new varieties and 11 new technologies, with over 20,000 participants[81] - The company has completed 306 experimental demonstration projects to enhance agricultural technology integration and innovation[81] Governance and Management - The company has established a governance structure that ensures independence from its controlling shareholders, maintaining operational autonomy[110] - The total remuneration for all directors, supervisors, and senior management at Heilongjiang Beidahuang Agricultural Co., Ltd. amounted to 5.1003 million yuan[123] - The company held six board meetings in the reporting year, with a mix of in-person and communication methods[128] - The company has implemented a performance assessment and salary management system for its executives[139] Legal Matters - The company is involved in multiple legal disputes with a total claim amount of approximately ¥102,179,802.12 related to a sales contract dispute with North China Qingfeng Flax Textile Co., Ltd. and others, with the highest court ruling in favor of the plaintiff[187] - The company has a pending execution amount of ¥113,768,625.66 from a processing dispute with North China Qingfeng Flax Textile Co., Ltd., with 537.40045 tons of flax yarn sold for ¥29,268,000[187] - The company is actively pursuing legal remedies to recover debts and protect its rights[192] - The company has faced challenges in recovering debts due to defendants lacking executable assets in multiple cases, including a dispute with Hohhot Huaze Grain Industry Co., involving 2,790,000 RMB[188] Environmental and Safety Practices - The company has actively engaged in environmental protection, with no pollutant emissions reported from its key polluting subsidiaries during the reporting period[155] - The company has adopted measures to reduce carbon emissions, including the use of organic fertilizers and precision application techniques[159] - A total of 941 safety hazards were identified and rectified during safety inspections, achieving a 100% rectification rate[163] - The company has implemented black soil protection technology across 16 subsidiaries, effectively improving soil quality and preventing degradation[158]