西部建设(002302) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥20,347,095,456.77, a decrease of 11.01% compared to ¥22,863,302,151.75 in 2023[21] - The net profit attributable to shareholders for 2024 was a loss of ¥262,525,940.91, representing a decline of 140.71% from a profit of ¥644,907,901.41 in 2023[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥334,462,408.97, down 158.49% from ¥571,872,354.60 in 2023[21] - The basic earnings per share for 2024 was -¥0.2283, a decrease of 146.55% from ¥0.4904 in 2023[21] - The total assets at the end of 2024 were ¥33,498,060,191.24, a decrease of 2.63% from ¥34,403,162,380.26 at the end of 2023[21] - The net assets attributable to shareholders at the end of 2024 were ¥9,481,347,402.08, down 4.55% from ¥9,932,862,503.29 at the end of 2023[21] Cash Flow and Investments - The net cash flow from operating activities increased by 63.69% to ¥538,367,319.24 in 2024, compared to ¥328,892,921.91 in 2023[21] - Investment cash inflow surged by 181.85% year-on-year to ¥77,756,484.06, primarily from the recovery of investments in joint ventures[78] - Net cash flow from financing activities decreased by 24.01% to -¥813,775,234.38, with cash inflow down by 4.96% to ¥1,719,590,755.13[78] Market and Industry Trends - The total profit of the concrete and cement products industry decreased by 35.84% year-on-year in 2024, reflecting a challenging market environment[34] - The company is focusing on high-quality development in response to the significant decline in the concrete market demand, which fell by 10.1% in 2024[34] - The concrete market demand remains substantial, supported by policies aimed at expanding domestic demand and infrastructure construction, particularly in central and western regions[100] - In 2024, only 4 provinces are expected to see an increase in concrete production, while 27 provinces are projected to decline, with some experiencing drops over 20%[101] Strategic Initiatives - The company is actively pursuing digital transformation and technological upgrades to enhance competitiveness in the concrete industry[37] - The company is aligned with national policies promoting green and low-carbon development in the construction sector, which is expected to create new market opportunities[36] - The company is focusing on high-performance concrete and smart materials development to meet urban renewal and new infrastructure demands[101] - The company plans to enhance its low-carbon cement materials and solid waste recycling technologies, aiming for reduced energy consumption and emissions[101] Research and Development - The company has made significant advancements in technology, with 18 national-level technological achievements and 101 authorized patents during the reporting period[49] - The company is developing several new technologies, including ultra-high-performance concrete and low-carbon concrete, aimed at enhancing product offerings and meeting market demands[72] - The number of R&D personnel decreased by 5.01% from 1,078 in 2023 to 1,024 in 2024[75] - R&D investment amount decreased by 16.96% from ¥618,532,469.48 in 2023 to ¥513,604,298.22 in 2024[75] Corporate Governance - The company adheres to legal and regulatory requirements, continuously improving its corporate governance structure and internal control systems[115] - The company maintains independence in assets, personnel, finance, organization, and business from its controlling shareholder[123] - The company has established an independent financial department and accounting system, ensuring independent financial decision-making[126] - The company has established a comprehensive quality management system to ensure the stability of product quality, despite potential risks from various factors such as raw material quality and production conditions[109] Environmental Compliance - The company has complied with various environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention Law[178] - The company reported a total emission of 18.18 tons of particulate matter, with a standard of 10.91 mg/m³ at the kiln head and tail[182] - The company plans to enhance its emission control technologies to meet stricter environmental standards in the future[183] - The company has implemented a comprehensive waste management strategy, including the use of qualified third-party units for solid waste disposal[185] Shareholder Engagement - The company conducted multiple investor relations activities, including on-site and online communications, to discuss production operations and future developments[110][111][112] - The company plans to distribute cash dividends of 1.25 yuan per 10 shares, totaling 157,794,288 yuan, based on a total share capital of 1,262,354,304 shares[170] - The cash dividend distribution policy states that the cash dividends in the future three years (2024-2026) will not be less than 20% of the distributable profits for the respective year, and the cumulative cash dividends over the last three years should be at least 60% of the average annual distributable profits[167] Employee Management - The total number of employees at the end of the reporting period is 5,019, including 125 at the parent company and 4,894 at major subsidiaries[161] - The company emphasizes a salary policy linked to economic performance and employee performance, with a focus on both short-term and long-term incentives[163] - Training programs are aligned with the company's "14th Five-Year Plan," focusing on cultivating young talent through various specialized training classes[164] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by market expansion and new product launches[143] - The company plans to achieve new contract value of 53 billion yuan, operating revenue of 21 billion yuan, and total profit of 1.5 billion yuan by 2025[105] - The company is exploring potential mergers and acquisitions to enhance its competitive position, targeting firms with complementary technologies[146]