FJDB(SH:600693)2025-04-11 15:05Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.03 per share, totaling RMB 26,095,387.38 based on a total share capital of 869,846,246 shares as of December 31, 2024[8]. - The company has not proposed any stock bonus or capital reserve transfer to increase share capital in the dividend distribution plan[8]. - The cash dividend amount for 2024 represents 160.02% of the net profit attributable to shareholders, which is 43,487,249.74 RMB[164]. - The cumulative cash dividend over the last three fiscal years amounts to 147,873,861.82 RMB, with an average annual net profit of 33,438,302.02 RMB, resulting in a cash dividend ratio of 442.23%[166]. - The company plans to prioritize cash dividends, with a commitment to distribute at least 30% of the average distributable profits over the last three years in cash dividends[189]. - Cash dividends will only be distributed if the company achieves profitability, has positive cash flow, and sufficient cash reserves to cover the dividends[189]. - The company will ensure that cash dividends are not less than 80% of the profits if it is in a mature stage without significant capital expenditures[190]. - The company has established a plan for shareholder returns from 2022 to 2024, which includes cash and stock distributions[189]. Financial Performance - The company reported a total revenue of CNY 1.82 billion for 2024, a decrease of 3.73% compared to the previous year[24]. - Net profit attributable to shareholders increased by 24.09% to CNY 43.49 million in 2024[27]. - The company's net profit after deducting non-recurring gains and losses was CNY 67.25 million, a decrease of 34.47% year-on-year[28]. - The retail business generated CNY 1.56 billion in revenue, with a slight decrease of CNY 0.05 billion, while gross profit increased by CNY 0.63 billion[24]. - The logistics segment saw revenue growth of CNY 0.39 billion, totaling CNY 1.38 billion, due to new projects coming online[24]. - The hotel and catering business achieved revenue of CNY 0.76 billion, reflecting a slight increase due to rising demand in the tourism sector[26]. - The commercial real estate segment reported a revenue decline of CNY 1.11 billion, primarily due to no sales revenue from the Fuzhou Dongbai Liqiao project[26]. - The company achieved operating revenue of 1.816 billion RMB, a decrease of 3.73% compared to the previous period[58]. - The net profit attributable to shareholders increased by 24.09% to 43 million RMB, while the net profit excluding non-recurring gains and losses decreased by 34.47% to 67 million RMB[58]. - The company's main business revenue was 1.799 billion RMB, reflecting a decline of 4.00% year-on-year[62]. Operational Highlights - The company introduced 305 new brands during the year, enhancing consumer experience and driving foot traffic[24]. - Customer traffic exceeded 140 million, growing by 9.22% year-on-year, with sales scale surpassing 10 billion yuan[38]. - The warehousing and logistics business saw a revenue increase of 39.17% year-on-year[38]. - The company completed the exit of 7 logistics projects, totaling approximately 700,000 square meters[42]. - The company maintains close cooperation with strategic clients such as JD.com and SF Express, expanding into new industries[42]. - The company has 11 self-owned logistics projects remaining, with a total building area of approximately 1.1 million square meters[42]. - The company signed an agreement to transfer 20% equity stakes in four subsidiaries for a total consideration of RMB 279 million, as part of its asset-light transformation strategy in the warehousing and logistics business[43]. - The company’s first outlet project, Fuzhou Lichiao Outlets, opened with a commercial area of approximately 50,000 square meters, achieving a foot traffic of 300,000 during the New Year's Eve event and sales exceeding RMB 10 million[44]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section[10]. - The company has emphasized the importance of investment risk awareness regarding forward-looking statements in the report[9]. - The company faces risks from macroeconomic fluctuations that could impact market demand and operational performance[121]. - The company is advancing its light asset management services while navigating potential challenges in business innovation and cross-regional operations[122]. Governance and Compliance - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[10]. - The company has stated that there are no violations of decision-making procedures for providing guarantees[10]. - The company has committed to ensuring the financial report's authenticity, accuracy, and completeness[7]. - The company has established a commitment to avoid conflicts of interest and will notify Dongbai Group of any competitive business opportunities[186]. - The company has implemented a comprehensive internal control system to ensure compliance and effective management of its operations, with regular evaluations of its effectiveness[169]. - The internal control audit for 2024 was conducted by Huaxing Accounting Firm, resulting in a standard unqualified opinion, consistent with the company's internal control evaluation report[171]. Sustainability Initiatives - The company has invested 1,431,500 RMB in environmental protection during the reporting period[175]. - The company has committed CNY 2.84 million to social responsibility projects, including CNY 1.65 million directed to the Fujian Environmental Volunteer Association for green public welfare activities[181]. - The company has maintained a commitment to environmental protection, with no administrative penalties for environmental violations reported during the reporting period[176]. - The company has established a waste classification mechanism in its commercial stores, significantly reducing plastic usage by promoting the use of eco-friendly paper bags[177]. - The company has been actively promoting green living through LED screens in high-traffic areas, encouraging citizens to adopt energy-saving practices[179]. - The company has published its sustainable development report for 18 consecutive years, detailing its practices in environmental protection and social responsibility[180]. Strategic Outlook - The company will continue its development strategy of "rooted in Fujian, expanding nationwide," focusing on "commercial retail + warehousing logistics" as dual drivers, aiming to enhance operational efficiency and create a more extensive logistics infrastructure network[116]. - By 2025, the company plans to strengthen its "first store economy" and explore new consumption models, while enhancing asset management capabilities and seeking new investment opportunities[117]. - The company aims to optimize its commercial retail operations by introducing regional flagship stores and enhancing customer experience through smart services and online-offline integration[117]. - The company is exploring sustainable development paths in the retail sector, emphasizing refined operational management and light asset models[113].