DHCT(SH:600844)2025-04-10 09:45Financial Performance - The company's operating revenue for 2024 was approximately ¥769.92 million, a decrease of 10.59% compared to ¥861.08 million in 2023[23]. - The net profit attributable to shareholders of the listed company for 2024 was approximately -¥307.51 million, showing an improvement from -¥392.95 million in 2023[23]. - Basic earnings per share for 2024 is -0.3025 yuan, an improvement from -0.3866 yuan in 2023[24]. - The weighted average return on equity decreased to -79.95% in 2024, down 26.63 percentage points from -53.32% in 2023[24]. - Total revenue for the first quarter of 2024 was 201,621,728.50 yuan, with a net profit attributable to shareholders of -50,287,839.08 yuan[26]. - The company achieved operating revenue of 770 million RMB, a year-on-year decrease of 10.59%[36]. - The net profit attributable to the owners of the company was -308 million RMB, a year-on-year reduction in losses of 21.74%[36]. - The company reported a significant increase of 226.10% in prepaid expenses, indicating a rise in advance payments for goods[63]. - The company reported a total of 1,055.40 million RMB in related party transactions during the reporting period, including 444.14 million RMB for purchasing textile packaging materials and work clothes, 352.89 million RMB for transportation services, and 258.37 million RMB for installation and maintenance services[147]. Assets and Liabilities - The total assets at the end of 2024 were approximately ¥1.27 billion, a decrease of 13.07% from ¥1.46 billion in 2023[23]. - The company's net assets attributable to shareholders decreased by 57.60% to approximately ¥229.03 million at the end of 2024 from ¥540.19 million at the end of 2023[23]. - The total liabilities increased from RMB 685,498,080.60 in 2023 to RMB 892,116,942.47 in 2024, marking a rise of approximately 30.19%[191]. - The company's equity attributable to shareholders decreased from RMB 540,194,036.02 in 2023 to RMB 229,034,447.36 in 2024, a drop of approximately 57.65%[192]. - The cash and cash equivalents decreased from RMB 25,123,643.42 in 2023 to RMB 11,150,246.93 in 2024, a decline of about 55.66%[190]. Operational Efficiency - The net cash flow from operating activities for 2024 was approximately -¥59.40 million, which is an improvement of 36.92% compared to -¥94.17 million in 2023[23]. - The company reduced costs by approximately 40 million RMB through various energy-saving measures[34]. - The company saved 4.64 million RMB in costs through personnel optimization and organizational restructuring[33]. - Sales expenses decreased by 37.71% to ¥2,325,168.37 compared to the same period last year, primarily due to reduced labor costs for sales personnel[55]. - R&D expenses significantly decreased by 93.34% to ¥2,161,610.54, attributed to compliance adjustments in the reporting scope[55]. Market and Production - The average selling price of ethylene glycol increased by 12.69%, although the company still reported losses in this segment[32]. - The production volume for ethylene glycol reached 133,000 tons and for oxalic acid was 99,300 tons, with a capacity utilization rate of 70.27%[32]. - The sales price of oxalic acid decreased by 19.28%, negatively impacting profitability despite strong demand[32]. - The company successfully expanded its ethylene glycol sales market in Northeast China, steadily increasing market share[32]. - The total production of ethylene glycol was 133,039.42 tons, with a sales volume of 127,295.68 tons, reflecting a year-over-year sales decrease of 7.24%[46]. Risks and Challenges - The company faces significant risks including policy, market, and operational risks[8]. - The company faces risks including production instability due to aging equipment and potential market oversupply leading to increased competition[88]. - The company has made adjustments to R&D funding and personnel allocation based on operational conditions to meet future development needs[59]. Governance and Management - The company has a standard unqualified audit report from Zhonghua Accounting Firm[5]. - The company is committed to improving its governance structure and internal controls to ensure compliance with regulatory requirements[90]. - The company has established a sound internal control system that complies with the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring effective management and compliance[120]. - The company has a cash dividend policy that prioritizes cash dividends, aiming to distribute at least 30% of the average distributable profit over the last three years, but did not declare any dividends during the reporting period due to negative retained earnings[118]. Future Plans - The company plans to enhance operational efficiency and improve its financial situation through effective measures in the future[36]. - The company plans to produce 125,000 tons of ethylene glycol and 112,000 tons of oxalic acid in 2025, maintaining a balance between production and sales[86]. - The company is focusing on optimizing its product structure and plans to pursue acquisitions in the coal chemical industry to expand its scale and enhance operational sustainability[85]. - The company aims to reduce operational losses by over 20 million yuan in 2025 through cost-cutting measures and efficiency improvements[86]. Environmental and Social Responsibility - The company invested approximately 28.07 million yuan in environmental protection during the reporting period[125]. - The subsidiary Tongliao Jinmei emitted a total of 170.37 tons of sulfur dioxide, 174.95 tons of nitrogen oxides, and 32.26 tons of smoke dust in 2024, all meeting the relevant emission standards[126]. - The company is currently undergoing a project to retrofit three boilers for ultra-low emissions, with the third boiler completed and in the commissioning phase as of December 2024[127]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 53,798, down from 55,612 at the end of the previous month[160]. - The largest shareholder, Inner Mongolia Jinrui Hongji Enterprise Management Co., Ltd., holds 152,500,000 shares, representing 15.00% of the total shares[163]. - The controlling shareholder changed from Danhua Group to Jinrui Hongji, with a transfer of 15,250,000 shares at a price of 3.23 RMB per share, representing 15.0021% of the total shares[166].