GUANNONG SHARE(SH:600251)2025-04-02 12:50Financial Performance - The company's operating revenue for 2024 was CNY 3,862,826,393.27, a decrease of 11.15% compared to CNY 4,347,669,706.85 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY 204,596,359.01, representing a significant decline of 71.58% from CNY 720,006,326.67 in 2023[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 214,287,472.11, down 69.22% from CNY 696,118,780.25 in the previous year[21]. - The net cash flow from operating activities increased by 176.80% to CNY 567,483,023.68, compared to CNY 205,017,958.20 in 2023[21]. - The net assets attributable to shareholders at the end of 2024 were CNY 3,591,908,163.87, a decrease of 4.65% from CNY 3,767,090,990.31 at the end of 2023[21]. - Basic earnings per share decreased by 71.74% to CNY 0.26, while diluted earnings per share also fell by the same percentage[22]. - Total assets at the end of the reporting period were CNY 715.87 million, representing an 8.23% decrease from the previous year[23]. - The weighted average return on equity dropped to 5.53%, a decrease of 14.88 percentage points year-on-year[22]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 62,159,486.64, which represents a cash dividend payout ratio of 30.38%[7]. - The company implemented a cash dividend policy in 2023, distributing CNY 357 million, with a dividend payout ratio of 50.02%, marking a new high since its listing[35]. - The cash dividend amount (including tax) for the recent fiscal year was CNY 62,159,486.64, accounting for 30.38% of the net profit attributable to ordinary shareholders[175]. - The cumulative cash dividend amount (including tax) over the last three fiscal years was CNY 562,543,354.09, with a cash dividend ratio of 121.06% based on the average annual net profit of CNY 464,673,031.04[177]. Research and Development - The company invested CNY 50.4815 million in R&D in 2024, a year-on-year increase of 60.99%, and established a postdoctoral research station, becoming the first enterprise in the region to achieve this[34]. - Research and development expenses increased by 88.88% to CNY 49,744,571.09, reflecting the company's commitment to innovation[70]. - The total R&D investment reached CNY 50,481,526.20, representing 1.31% of operating revenue[84]. - The company plans to enhance tomato raw material quality through various R&D projects, including rapid detection methods for key quality indicators[87]. - The company aims to develop a monitoring model for processing tomatoes based on smart sensors to improve monitoring accuracy and efficiency[88]. - The company is focusing on developing new products, including fermented tomato products and functional plant extracts, to enhance product value and market competitiveness[87]. Market Strategy and Expansion - The company plans to enhance its market competitiveness by shifting from order-based sales to refined operations, improving market perception and channel control[33]. - The company is focusing on domestic market expansion as over 80% of its tomato products are currently exported, with a shift towards meeting domestic demand due to declining export prices[41]. - The company is actively enhancing its risk management and compliance capabilities to support high-quality development amidst a complex economic environment[36]. - The company aims to strengthen the tomato, cotton, and sugar beet industries, contributing to the development of high-quality agricultural products in Xinjiang[54]. - The company is committed to modernizing agriculture and enhancing its governance capabilities to achieve stable and high-quality development[108]. Environmental Management - The company has invested CNY 6,723,700 in environmental protection during the reporting period[185]. - Green Yuan Sugar's wastewater treatment facility has a daily processing capacity of 6,000 m³, ensuring compliance with national discharge standards[188]. - The company has established an emergency response plan for environmental incidents, which was registered with the local ecological environment bureau on November 29, 2023[192]. - The company conducts online monitoring of key wastewater parameters, including COD, pH, and ammonia nitrogen, to ensure real-time compliance[193]. - The company has achieved compliance with wastewater discharge standards, with chemical oxygen demand (COD) at 40.532 tons and ammonia nitrogen at 4.023 tons during the reporting period[189]. - The company promotes energy conservation and emission reduction as part of its annual assessment system, enhancing management quality[196]. Corporate Governance - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, reviewing a total of 19 proposals[122]. - The board of directors convened 11 meetings, discussing 48 proposals including financial reports, profit distribution plans, and external investments[124]. - The company is committed to optimizing its organizational structure and enhancing talent management to mitigate human resource shortages[119]. - The controlling shareholder has strictly adhered to integrity obligations and has not interfered with the company's decision-making or operations, ensuring no unfair related transactions occurred[132]. - The company has established effective communication mechanisms with investors, holding 3 performance briefings during the reporting period[130]. Risk Management - The company is focusing on enhancing its risk management and compliance capabilities to support high-quality development amidst a complex economic environment[36]. - The company is addressing market risks due to intense competition in its main sectors, including cotton, sugar, and tomatoes, with a focus on improving supply and production processes[115]. - The company is implementing measures to mitigate foreign exchange risks associated with its tomato product exports, primarily settled in USD[117]. - The company maintains a risk management strategy for its derivative investments, focusing on mitigating market, liquidity, and operational risks[100]. Operational Efficiency - The company has established a digital agriculture service platform, integrating big data, IoT, and AI technologies into agricultural production[63]. - The company is implementing projects for efficient recycling of sugar by-products, which will significantly reduce costs and enhance competitiveness in the sugar industry[51]. - The company has a processing capacity of 60,000 tons of cottonseed, enhancing its risk resistance in the cotton processing industry[46]. - The company has established multiple tomato processing factories in the Xinjiang Yengisar Basin, benefiting from cost advantages in tomato planting and processing, leading to rapid development in the tomato industry[43]. Employee Management - The company aims to enhance employee skills and performance through a comprehensive training program, focusing on professional development and team cohesion[165]. - The company has established a performance assessment mechanism to evaluate the effectiveness of training programs and improve employee engagement[166]. - The company emphasizes a salary distribution mechanism that favors frontline technical, sales, and production staff to enhance overall organizational vitality[164]. Strategic Investments - The company made equity investments totaling CNY 374,739,100, an increase of CNY 223,395,100 compared to the previous year[96]. - The company has completed the acquisition of New Tomato Processing with an investment of CNY 4,692.89 million, fully consolidating it into its financial statements[97]. - The company plans to acquire 100% equity of Xinjiang Lihua Biotechnology Development Co., Ltd. through public bidding[150].