HBYH(SZ:000422)2025-04-02 11:30Financial Performance - The company's operating revenue for 2024 was CNY 16,963,593,878, a decrease of 0.48% compared to CNY 17,042,037,200 in 2023[6]. - Net profit attributable to shareholders for 2024 was CNY 652,544,554, representing a 44.32% increase from CNY 453,146,283 in 2023[6]. - The net profit after deducting non-recurring gains and losses was CNY 426,928,580, a decrease of 10.58% from CNY 478,421,829 in 2023[6]. - The net cash flow from operating activities for 2024 was CNY 768,224,617, a significant decline of 52.86% from CNY 1,626,449,159 in 2023[6]. - Basic and diluted earnings per share for 2024 were CNY 0.6108, an increase of 30.29% from CNY 0.4698 in 2023[6]. - Total assets at the end of 2024 reached CNY 26,713,229,478, a 24.40% increase from CNY 21,434,333,700 at the end of 2023[6]. - Net assets attributable to shareholders at the end of 2024 were CNY 7,362,231,440, reflecting an 11.88% increase from CNY 6,574,480,650 at the end of 2023[6]. - The total operating revenue for 2024 was CNY 16.964 billion, a slight decrease of 0.48% compared to CNY 17.046 billion in 2023[58]. - The company's net profit for 2024 reached CNY 653 million, a year-on-year increase of 44.32%, with earnings per share of CNY 0.6108, up 30.29%[57]. Dividend Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[5]. - For 2024, the company plans to distribute a cash dividend of 2.00 CNY per 10 shares, amounting to 216,501,942.40 CNY, which is 33.18% of the net profit attributable to shareholders for that year[183]. - The total distributable profit for 2024 is reported at 1,658,180,882.42 CNY, with the company having a cumulative undistributed profit of 1,843,736,897.22 CNY by the end of 2024[183]. - The cumulative cash dividends over the past three years amount to 644,805,961.44 CNY, representing 59.22% of the average annual net profit attributable to shareholders during that period[183]. Market and Industry Position - The company is focused on expanding its market presence and enhancing its product offerings in the chemical industry[5]. - The company operates in a mature chemical industry with strong competition, particularly in the fertilizer and chlor-alkali sectors[31]. - The chemical industry in China is expected to maintain stable growth, with a projected main business income of CNY 15 trillion in 2024[32]. - The domestic fertilizer industry is expected to achieve a market value of CNY 577.3 billion in 2024, representing a year-on-year growth of 25.5%, with total production exceeding 60.06 million tons, up 8.5% year-on-year[33]. - The chlor-alkali industry is projected to see a caustic soda apparent consumption of 36.57 million tons in 2024, an increase of 2.5% year-on-year, while PVC market average operating rate is only 78% due to real estate downturn[34]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility as outlined in the annual report[5]. - The company is investing in green processes to respond to national environmental policies, with plans to accelerate capacity upgrades in 2025[36]. - The company is actively pursuing environmental compliance, with approvals for various projects such as a 50,000-ton annual chlorinated polyethylene project and a 300,000-ton annual urea project[41]. - The company is committed to sustainable practices, as evidenced by its ongoing environmental assessments and approvals for waste management and energy-saving projects[41]. - The company emphasizes ecological protection and green development, aligning with national environmental standards[53]. Research and Development - The company has obtained 19 invention patents and 15 utility model patents for urea production, showcasing its strong R&D capabilities in the fertilizer sector[38]. - The company is developing new technologies for energy-saving and resource utilization, including projects for electronic-grade caustic soda and high-purity hydrochloric acid[71]. - The company aims to improve product quality and reduce production costs through various R&D projects, including the development of new processes for phosphoric acid and sodium fluosilicate[71]. - The company has completed the development of a new process for comprehensive utilization of phosphogypsum, aiming for high-value utilization of phosphogypsum resources[72]. - The company achieved a research and development investment of approximately ¥813.47 million in 2024, representing a 10.45% increase from ¥736.52 million in 2023[76]. Governance and Compliance - The company emphasizes the importance of corporate governance, ensuring compliance with laws and regulations to protect the rights of all shareholders, especially minority investors[127]. - The company has established a robust internal audit system to enhance operational compliance and financial reporting accuracy[137]. - The internal control system was optimized and effectively implemented, with no significant internal control deficiencies found during the reporting period[190]. - The company is classified as a key pollutant discharge unit by environmental protection authorities, adhering to multiple environmental protection laws and standards[197]. - The company has a clear asset ownership structure, with no illegal guarantees or asset control by the controlling shareholder[142]. Strategic Investments and Acquisitions - The company is actively pursuing market expansion through strategic acquisitions and investments in new technologies and products[89]. - The company has completed the acquisition of a 100% stake in Xinjiang Chiyuan Environmental Technology Co., Ltd.[191]. - The company has signed a framework cooperation agreement to jointly develop the Hubei fluorosilicon industrial park project, enhancing its market competitiveness[48]. - The company is in the process of constructing a 40,000 tons/year phosphoric acid project, with a total investment of approximately 1.45 billion CNY, expected to be operational by April 2024[93]. - The company is actively pursuing a cash acquisition of a 39.403% stake in Xinjiang Yihua from Yihua Group, which is expected to enhance the asset quality and profitability of the listed company[125].