Chanhen(SZ:002895)2025-04-09 11:10Dividend and Profit Distribution - The company plans to distribute a cash dividend of 12.00 RMB per 10 shares (including tax) to all shareholders [4]. - The board of directors has approved a profit distribution plan based on the total share capital on the dividend announcement date [4]. Financial Performance - The company reported significant revenue growth, with a focus on the production and sales of dihydrogen phosphate, monoammonium phosphate, and other phosphate products [15]. - The company's operating revenue for 2024 reached ¥5,905,646,993.40, representing a 36.72% increase compared to ¥4,319,508,406.75 in 2023 [18]. - The net profit attributable to shareholders for 2024 was ¥956,481,438.45, a 24.80% increase from ¥766,403,884.94 in 2023 [18]. - The basic earnings per share for 2024 was ¥1.7647, reflecting a 15.59% increase from ¥1.5267 in 2023 [18]. - The company reported a quarterly revenue of ¥1,932,177,025.88 in Q4 2024, marking a significant contribution to the annual total [22]. - The gross profit margin for phosphate chemical products was 27.76%, with a year-on-year increase of 46.66% in revenue [107]. - The company achieved a revenue of CNY 5.905 billion in 2024, representing a year-on-year growth of 36.72% [101]. - The net profit attributable to shareholders reached CNY 956 million, an increase of 24.80% compared to the previous year [101]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies, particularly in the production of iron phosphate for lithium batteries [10]. - The company is focusing on expanding its market presence in the agricultural and chemical sectors, leveraging its advanced production technologies [36]. - The company is expanding its production capabilities with a project to increase the capacity of low-grade phosphate ore processing from 1.5 million tons/year to 2.4 million tons/year, which has also received environmental approval [79]. - The company is investing in environmental facilities to achieve ultra-clean emissions and developing technologies for the utilization of phosphogypsum [165]. Research and Development - The company has maintained a commitment to research and development of new products and technologies in the chemical sector [10]. - The company is actively working on new product development, including high-water-soluble fertilizers and feed-grade phosphates, which are expected to enhance market competitiveness [78]. - The company is committed to technological research and innovation, focusing on improving the utilization efficiency of low-grade phosphate ore and developing high-value-added phosphate materials [158]. - R&D expenses rose by 37.37% year-on-year to ¥138,903,321.60, primarily due to an increase in R&D projects during the reporting period [118]. - R&D investment amounted to approximately 154.90 million yuan, a slight decrease of 0.63% from the previous year, with R&D investment as a percentage of revenue dropping from 3.61% to 2.62% [123]. Operational Efficiency and Cost Management - The company emphasizes the importance of accurate financial reporting and has ensured compliance with legal responsibilities [4]. - The company is focused on enhancing its operational efficiency and market competitiveness through strategic initiatives [10]. - The total operating cost for phosphate chemicals was ¥3,603,534,173.73, with direct materials accounting for 64.74% of the total [115]. - The company has a strong focus on product quality control, with quality inspections conducted at various stages of production [70]. Environmental and Sustainability Initiatives - The management highlighted potential risks and corresponding mitigation strategies in the future business outlook section of the report [4]. - The company is committed to sustainable practices, as shown by its ongoing projects for environmental restoration and waste treatment facilities [79]. - The company emphasizes clean production in traditional phosphate chemical fields, continuously optimizing processes to meet customer demands and maintain its leading position in the market [153]. - The company plans to reduce carbon emissions by 20% over the next three years [10]. Supply Chain and Procurement - The company sources liquid ammonia from manufacturers in regions such as Guizhou and Sichuan, primarily using a cash-on-delivery payment method [68]. - The company’s procurement strategy involves analyzing past budgets and market trends to determine annual sales and production plans [66]. - The procurement of phosphate rock has increased by 192.88% compared to the previous reporting period due to the purchase of higher-grade phosphate rock [76]. - The average procurement price of sulfuric acid rose by 36.61% compared to the previous reporting period, influenced by tight raw material supply and high processing fees [77]. Risk Management - The company is facing risks related to raw material supply and price volatility, particularly for phosphate rock and sulfuric acid, which are critical to its operations [162]. - The company has a risk management strategy in place to address potential asset impairment risks related to its long-term equity investments in mining companies [168]. - The company has implemented a foreign exchange hedging policy to mitigate the impact of RMB appreciation against the USD on its export revenues [169]. Shareholder Engagement - The participation rate for the 2024 first extraordinary general meeting was 48.26% [186]. - The total number of shares held by directors, supervisors, and senior management at the end of the reporting period was 2,416,200 shares [190]. - Li Zijun reduced his holdings by 220,000 shares due to personal financial needs [188].