JONJEE(SH:600872)2025-04-08 14:10Financial Performance - The company's operating revenue for 2024 reached ¥5,518,756,937.25, representing a year-on-year increase of 7.39% compared to ¥5,139,091,906.63 in 2023[24] - The net profit attributable to shareholders for 2024 was ¥893,066,517.48, a significant decrease of 47.37% from ¥1,696,954,088.26 in 2023[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥670,585,671.66, which is an increase of 27.97% from ¥524,015,533.50 in 2023[24] - The net cash flow from operating activities for 2024 was ¥1,087,762,516.91, up 29.20% from ¥841,908,805.69 in 2023[24] - The total assets at the end of 2024 amounted to ¥8,236,864,901.22, reflecting a 22.59% increase from ¥6,718,881,439.74 at the end of 2023[24] - The net assets attributable to shareholders increased by 19.33% to ¥5,614,023,477.67 at the end of 2024, compared to ¥4,704,744,444.34 at the end of 2023[24] - The basic earnings per share for 2024 were ¥1.1438, down 48.03% from ¥2.2010 in 2023[25] - The diluted earnings per share also stood at ¥1.1438, reflecting the same decline of 48.03% compared to the previous year[25] - The weighted average return on equity decreased to 18.24% in 2024, down 25.76 percentage points from 44.00% in 2023[25] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥4.2 per 10 shares, totaling ¥327,247,162.20, which represents 47.90% of the net profit attributable to the parent company for 2024[8] - The cumulative cash dividend amount over the last three accounting years is 634,017,357.40 RMB, with a cash dividend ratio of 166.33% based on the average net profit[166] - The company plans to distribute a total cash dividend of 30,677.02 million RMB in 2024, with the implementation scheduled for May 2024[162] Product Development and Market Expansion - The company launched 29 new products in 2024, covering various categories such as soy sauce, oyster sauce, and chicken essence, to meet diverse consumer needs[34] - The company achieved a net increase of 470 distributors in 2024, bringing the total number of distributors to 2,554, with a county development rate of 75.35% and a city development rate of 95.81%[33] - The company’s new business initiatives on platforms like Tmall and Pinduoduo saw a year-on-year sales growth of 9.3%, with high-end new products achieving over 9.74 million exposures[34] - The company is actively pursuing external growth through potential acquisitions and has established an overseas division to support market expansion strategies[35] - The company plans to enhance its product development efficiency and focus on new products in the soy sauce, chicken essence powder, oyster sauce, and compound seasoning markets, emphasizing organic, reduced salt, and high-temperature sterilization products[109] Operational Efficiency and Cost Management - The company implemented a price adjustment policy for certain products in 2024 to restore competitive positioning and focus resources on key customers[34] - The company established a supply chain transformation team to enhance production management and optimize procurement models, resulting in significant cost reductions[35] - The operating cash flow increased by 29.20% to RMB 1.09 billion, driven by increased revenue and lower raw material costs[52] - The gross profit margin for the manufacturing sector was 37.28%, a decrease of 0.50 percentage points compared to the previous year[57] - The company has reduced operational costs by 5%, resulting in improved profit margins[130] Research and Development - The company has over 316 R&D personnel, accounting for 8.08% of the total workforce, and has obtained over 200 patents[46] - The total R&D expenditure was CNY 164.82 million, accounting for 2.99% of operating revenue, with a decrease of CNY 15.83 million year-on-year, a reduction of 8.76%[69] - The company is investing 200 million yuan in R&D for new technologies aimed at enhancing product efficiency[131] - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing product quality and efficiency[134] Environmental and Social Responsibility - The company is committed to sustainable development, emphasizing eco-friendly packaging and low-carbon production processes[103] - The company invested 16 million CNY in environmental protection during the reporting period[173] - The wastewater treatment capacity of Guangdong Meiwei Xian Food Co., Ltd. is 3,500 m³ per day, while Guangdong Chubang Food Co., Ltd. has a capacity of 2,500 m³ per day[177] - The company has established a mechanism for environmental protection and pollution prevention, including the operation of two wastewater treatment plants[177] - The company has set up online monitoring systems for various pollutants, including COD, pH, and nitrogen oxides, in compliance with local environmental bureau requirements[183] Corporate Governance and Compliance - The company held 7 board meetings during the reporting period, ensuring diligent and honest performance by the board members[122] - The company conducted 5 supervisory board meetings, with supervisors fulfilling their duties responsibly and ensuring compliance with financial regulations[123] - The company has not experienced any insider trading or information leakage incidents during the reporting period, adhering strictly to disclosure regulations[123] - The company’s management team operates in compliance with the company’s articles of association and board resolutions, ensuring transparent operations[122] - The company faced regulatory penalties, with supervisor Song Weiyang receiving public reprimands for failing to disclose financial reports on time, leading to warnings from the Shenzhen Securities Regulatory Bureau[138] Strategic Initiatives and Future Outlook - The company aims to achieve three main goals by 2025: complete at least one industry acquisition, ensure revenue growth not lower than industry peers, and build three core capabilities: refined marketing, continuous innovation, and lean operations[107] - The company plans to leverage mergers and acquisitions to further expand market share and drive industry resource integration[104] - The company is focusing on digital transformation, utilizing AI and big data for supply chain management and precise marketing[102] - The company is exploring potential acquisitions to further enhance its market position, with a budget of 500 million yuan allocated for this purpose[131] Legal and Litigation Matters - The company faced significant litigation issues, including three lawsuits regarding land use rights totaling 1,043.8251 acres, 1,129.6675 acres, and 797.05315 acres[192] - The company has successfully reached a settlement in the aforementioned lawsuits, with the court allowing the withdrawal of all three cases[193] Financial Management - The company reported a total guarantee amount of 1 billion RMB, which includes guarantees to subsidiaries[200] - The company has no overdue guarantees and has not provided guarantees to shareholders or related parties[200] - The current auditor for the company is Tianzhi International Accounting Firm, with an audit fee of 1 million yuan for the current period[190]