TMD(SZ:000762)2025-04-01 10:00Financial Performance - The company's operating revenue for 2024 was ¥622,199,671.75, a decrease of 22.76% compared to ¥805,511,794.40 in 2023[15] - The net profit attributable to shareholders for 2024 was ¥111,743,790.21, down 31.79% from ¥163,813,140.71 in the previous year[15] - The net profit after deducting non-recurring gains and losses was ¥76,352,025.78, reflecting a decline of 41.75% compared to ¥131,083,123.90 in 2023[15] - The basic earnings per share for 2024 was ¥0.21, a decrease of 32.26% from ¥0.31 in 2023[15] - The total assets at the end of 2024 were ¥7,441,890,475.23, down 8.62% from ¥8,143,611,169.68 at the end of 2023[15] - The net assets attributable to shareholders increased by 3.12% to ¥2,972,959,593.14 at the end of 2024, compared to ¥2,883,025,430.71 at the end of 2023[15] - The cash flow from operating activities for 2024 was ¥364,963,175.34, a slight decrease of 4.05% from ¥380,359,374.22 in 2023[15] - The weighted average return on equity for 2024 was 3.83%, down from 5.41% in 2023[15] Revenue Breakdown - The revenue from lithium products fell by 40.76% to ¥326.40 million, while chromium products increased by 16.24% to ¥292.11 million[30] - The company reported a gross margin of 47.01% for its direct sales model, down from the previous year[32] - The production volume of lithium concentrate decreased by 34.61% to 5,083.27 tons, while sales volume increased by 17.72% to 9,822.40 tons[34] - The East China region saw a revenue increase of 76.45% to ¥159.22 million, while the Northwest region experienced a significant decline of 66.91%[30] Market Trends - The lithium industry is stabilizing in 2024 after significant fluctuations in 2023, with demand driven by the electric vehicle market, particularly in Europe and North America[23] - The global electric vehicle sales reached record highs, significantly boosting lithium demand, while supply from new lithium projects in Australia, Argentina, and Chile has increased[23] - The chromium market is expected to maintain a stable price range between 8,300 and 9,000 per 50 base tons in 2024, with reduced volatility compared to 2023[24] - The expected number of new registered electric vehicles in 2024 is over 9 million, representing a year-on-year growth of approximately 21%[64] - The lithium battery production in 2024 is projected to exceed 1200 GWh, reflecting strong growth in the lithium industry[64] Environmental Compliance - The company has obtained environmental permits for its subsidiaries, including the registration of pollution discharge permits for the Shannan branch and Tibet Zabuye[132] - The environmental impact assessment report for the lithium resource development project at Tibet Zabuye was approved in June 2022, indicating ongoing compliance with environmental regulations[132] - The Shannan branch's wastewater treatment processes ensure that all production wastewater is reused and not discharged externally, contributing to environmental sustainability[136] - The company maintains compliance with various environmental protection laws, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[131] - The company has successfully passed self-assessments for environmental compliance, with no significant defects reported in non-financial reporting[129] Governance and Management - The company held its annual shareholder meeting with a participation rate of 21.75% on May 31, 2024[80] - The company’s board of directors has been restructured, with a revised decision-making plan to enhance governance[77] - The company’s governance structure complies with legal and regulatory requirements without significant discrepancies[77] - The company is committed to maintaining strong governance practices with the recent board restructuring[82] - The new management team is expected to implement strategies that align with the company's long-term vision and market expansion goals[85] Research and Development - Research and development expenses dropped significantly by 93.99% to ¥33,772.73, attributed to a reduction in professional service fees[43] - The company plans to continue investing in research and development to innovate and enhance its product portfolio[86] - The company has 11 patents related to lithium extraction technology, enhancing resource extraction efficiency and environmental standards[28] Shareholder Returns - The company plans to distribute a total cash dividend of RMB 52,117,414.00 (including tax) for the year 2024[112] - A cash dividend of CNY 0.5 per 10 shares (including tax) will be distributed, totaling CNY 26,058,707.00, which represents 23.32% of the net profit attributable to the parent company for the period[116] - The cash dividend distribution represents 3.74% of the total distributable profit at the end of the period[116] Strategic Initiatives - The company aims to produce 10,000 tons of chrome ore (8,000 tons of rich ore and 2,000 tons of poor ore) and 5,000 tons of lithium concentrate in 2025, along with 7,000 tons of lithium carbonate and 93,000 tons of potassium chloride[67] - The company plans to utilize nearly 100% clean energy in its key projects to mitigate policy risks associated with ecological protection in Tibet[68] - The company is committed to expanding its exploration and evaluation of chrome, lithium, copper, and iron resources while ensuring ecological protection[72] Risk Management - The company has implemented a risk management report for 2023 and a plan for 2024, with regular risk monitoring and quarterly reports[76] - The company is facing risks related to project construction in remote areas with underdeveloped logistics, and it has established a transit warehouse to optimize material management and ensure timely supply[69] Financial Management - The company has a structured approach to performance evaluation and incentive management for its managerial staff[98] - The internal control system has been optimized with 8 new regulations, 27 revised regulations, and 3 abolished regulations during the reporting period[125] - The company has not reported any significant internal control deficiencies during the reporting period[126]