ANGEL YEAST(SH:600298)2025-04-09 14:40Financial Performance - The company reported a net profit of 7,899,148,680.88 RMB at the end of 2024, with an undistributed profit of 9.09 RMB per share[6]. - Basic earnings per share for 2024 increased by 4.73% to 1.55 RMB, compared to 1.48 RMB in 2023[23]. - The diluted earnings per share for 2024 also rose by 4.05% to 1.54 RMB, up from 1.48 RMB in the previous year[23]. - The company achieved operating revenue of RMB 15.20 billion in 2024, representing a year-on-year increase of 11.86%[24]. - Net profit attributable to shareholders reached RMB 1.32 billion, up 4.07% compared to the previous year[24]. - The net profit after deducting non-recurring gains and losses was RMB 1.17 billion, reflecting a 5.79% increase year-on-year[24]. - The net cash flow from operating activities was RMB 1.65 billion, an increase of 24.38% from the previous year[24]. - By the end of 2024, the company's total assets amounted to RMB 21.73 billion, a 12.57% increase from the end of 2023[24]. - The company's net assets attributable to shareholders increased to RMB 10.83 billion, a rise of 7.28% from the end of 2023[24]. Dividend Distribution - The proposed cash dividend distribution is 5.5 RMB per 10 shares, amounting to an estimated total distribution of 477,476,159.05 RMB[6]. - The company plans to maintain its dividend distribution ratio even if there are changes in total share capital before the implementation date[6]. - The company plans to distribute a cash dividend of 5.5 RMB per 10 shares, amounting to a total cash dividend of approximately 477.48 million RMB, which represents 36.05% of the net profit attributable to ordinary shareholders[136]. - The total cash dividend amount for the last three accounting years is approximately 1.34 billion RMB, with a cash dividend ratio of 102.65%[138]. Market Expansion and Product Development - The company is actively expanding its international presence with new subsidiaries in Brazil and Algeria, and is preparing for projects in Indonesia[32]. - The company has developed and launched new products including freeze-dried yeast, traditional liquor yeast, and yeast cultures, focusing on high nucleic acid and yeast protein applications to enhance product competitiveness[33]. - The company is planning to establish a new subsidiary in Brazil to expand its business operations[115]. - The company plans to establish a subsidiary in Indonesia as part of its expansion strategy[102]. - The company is considering strategic acquisitions to bolster its product portfolio, with potential targets identified in the biotechnology sector[107]. Research and Development - The company has applied for 195 patents in 2024, including 105 invention patents, with a total of 1,533 patent applications to date[45]. - The company's total R&D investment for the period was CNY 631,667,216.29, accounting for 4.16% of total revenue[64]. - The number of R&D personnel is 1,120, representing 9.18% of the total workforce[65]. - The company is investing heavily in R&D, with a budget increase of 25% to enhance product innovation and technology[107]. Environmental Initiatives - The company invested 634.54 million CNY in environmental protection during the reporting period[149]. - The company achieved compliance in all major pollutant discharge categories, including chemical oxygen demand and ammonia nitrogen[149]. - The company has a comprehensive internal control and risk management system in place, ensuring effective operation and risk mitigation[145]. - The company reported a total of 5284.45 tons/year for chemical oxygen demand (COD) and 1157.97 tons/year for nitrogen oxides (NOx) emissions, which are well below the regulatory limits[150]. - The company has completed its CDP reporting and is working on carbon footprint research for key products, obtaining carbon footprint certificates for specific products[162]. Corporate Governance - The company held 7 shareholder meetings during the reporting period, approving a total of 35 proposals, ensuring compliance with legal and regulatory requirements[89]. - The board of directors convened 14 meetings, passing 80 resolutions, with a structure that includes 6 independent directors, adhering to legal standards[90]. - The company has established several specialized committees, including audit, nomination, compensation, and strategy committees, to enhance governance[121]. - The company has maintained effective communication and collaboration among board members during the reporting period[122]. Financial Management - The company reported a significant increase in financial expenses, which surged by 302.21% to ¥63,477,114.39, primarily due to increased bank interest expenses[50]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 12.3763 million yuan[113]. - The company has undergone changes in its supervisory board, with Wang Dong being elected as a new employee supervisor[114]. - The company approved the proposal for the 2023 annual financial budget report and the 2024 financial budget report during the board meeting[116]. Strategic Planning - The company aims to become the world's leading yeast enterprise and a first-class biotechnology company during the "14th Five-Year Plan" period[83]. - The company plans to achieve a revenue growth of over 10% in 2025 compared to the previous year, aiming to become the world's leading yeast enterprise and a top international biotechnology company[84]. - The company is implementing measures to mitigate foreign exchange risks associated with export activities by strengthening international trade and exchange rate policy research[85]. - The company is pursuing a joint venture with Guangxi Shuangliu Meiqi Biotechnology Co., Ltd.[117]. Community Engagement - Total investment in social responsibility projects amounted to 15,000 CNY, including a donation of 10,000 CNY for local cultural events and 5,000 CNY to an educational foundation[164]. - The company conducted outreach activities covering 603 households, updating and distributing assistance policy information and organizing over 20 community meetings[166]. - The company organized over 100,000 CNY in purchases from local farmers to support local industry development through consumption-based poverty alleviation[166].