聚杰微纤(300819) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for the year was ¥599,525,554.01, representing a decrease of 12.46% compared to the previous year[17]. - The net profit attributable to shareholders was ¥64,449,510.83, down 13.42% year-on-year[17]. - The net profit after deducting non-recurring gains and losses increased by 56.43% to ¥65,960,774.90[17]. - The basic earnings per share decreased by 14.00% to ¥0.43[17]. - The total assets at the end of 2024 were ¥1,019,697,481.30, a slight increase of 0.03% from the previous year[17]. - The net assets attributable to shareholders increased by 2.29% to ¥876,706,699.93[17]. - The cash flow from operating activities was ¥88,211,768.63, showing a slight increase of 0.85%[17]. - The weighted average return on equity was 7.47%, down from 8.94% in the previous year[17]. Quarterly Performance - The company's total revenue for Q1 2024 was approximately ¥119.30 million, with Q2 at ¥217.85 million, Q3 at ¥145.33 million, and Q4 at ¥117.05 million[19]. - Net profit attributable to shareholders for Q1 2024 was approximately ¥11.27 million, increasing to ¥31.51 million in Q2, then decreasing to ¥15.10 million in Q3, and further declining to ¥6.58 million in Q4[19]. - The net profit after deducting non-recurring gains and losses for Q1 2024 was approximately ¥13.07 million, with Q2 at ¥31.66 million, Q3 at ¥15.20 million, and Q4 at ¥6.02 million[19]. - The net cash flow from operating activities showed a significant improvement in Q3 2024 with ¥88.50 million, compared to negative cash flows in Q1 and Q2[19]. Industry Overview - The textile industry in China showed a capacity utilization rate of 78.5% in 2024, an increase of 2.1 percentage points from the previous year[30]. - The industrial added value of large-scale textile enterprises in China grew by 4.4% year-on-year in 2024, indicating a recovery in the sector[30]. - China's textile and apparel export total reached $301.1 billion in 2024, reflecting a year-on-year growth of 2.8%[30]. Company Recognition and Innovation - The company is recognized as a leading player in the ultra-fine composite fiber materials sector, contributing to the formulation of national and industry standards[32]. - The company has been awarded titles such as "China Ultra-fine Fiber Fabric Boutique Production Base" and "Green Clean Production Excellent Enterprise" by industry associations[32]. - The company aims to enhance its competitive edge through continuous innovation in production processes and technology upgrades[32]. - The company holds 27 invention patents and 28 utility model patents related to ultra-fine fiber materials, providing a strong support for product innovation and market competitiveness[59]. Product Specialization - The company specializes in the research, production, and sales of microfiber composite fabrics and products, with a focus on four main categories: microfiber products, microfiber synthetic leather fabrics, microfiber functional fabrics, and microfiber cleanroom products[34]. - Microfiber products, such as towels and bathrobes, have an absorption capacity over 7 times that of ordinary cotton towels, showcasing their superior performance[37]. - The company’s microfiber synthetic leather fabrics combine high performance with a leather-like appearance, offering lower costs and better environmental benefits[39]. - The company’s microfiber functional fabrics exhibit strong water absorption and quick-drying capabilities, making them suitable for sports towels and casual wear[41]. Production and Sales - The company has a complete production process from spinning, weaving, dyeing, to finishing, ensuring high product quality and efficiency[48]. - The production capacity utilization rates for ultra-fine fiber products increased significantly, with ultra-fine fiber finished products at 69.75%, ultra-fine fiber fabrics at 78.92%, and ultra-fine fiber cleanroom products at 90.96%, all showing over 10% year-on-year growth due to increased sales orders[78]. - The company reported a significant increase in inventory levels for ultra-fine fiber functional materials, which rose by 122.47% year-on-year to 164.72 million pieces, attributed to increased order demand[69]. Financial Management - The cost of direct materials accounted for 48.85% of total operating costs, with a slight decrease of 0.42% year-on-year, while direct labor costs decreased by 28.36% to approximately 58.49 million[71]. - The company’s financial expenses decreased significantly by 322.21% to approximately -7.82 million, mainly due to increased interest income and exchange gains[77]. - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 25% year-over-year growth[136]. Research and Development - The company plans to continue increasing R&D investment, focusing on enhancing product added value and core competitiveness[60]. - Research and development investment amounted to CNY 30.47 million, accounting for 5.08% of total revenue, a slight decrease from 5.48% in the previous year[83]. - The total number of R&D personnel increased to 91, with a notable rise in the number of master's degree holders by 150% compared to the previous year[83]. Corporate Governance - The company has established a fair and transparent performance evaluation and incentive mechanism for directors and senior management[124]. - The board of directors consists of 7 members, including 3 independent directors, and held 4 meetings during the reporting period, reviewing 24 proposals[123]. - The company maintains independence from its controlling shareholders, ensuring no interference in decision-making and operations[122]. Environmental Responsibility - The company adheres to strict environmental regulations, including the "Textile Dyeing and Finishing Industry Water Pollutant Discharge Standards" and "Comprehensive Emission Standards for Air Pollutants"[174]. - The company has established emergency response plans for potential environmental incidents, including a structured response mechanism and communication protocols[177]. - The company invested approximately CNY 2.9396 million in environmental governance and protection during the reporting period, primarily for the maintenance and operation of pollution treatment facilities[180]. Shareholder Engagement - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares, totaling 44,761,500.00 CNY for the fiscal year 2023, which represents 100% of the profit distribution[163]. - The company has established a commitment to maintain transparency regarding shareholding reductions, especially in relation to significant corporate events such as mergers or acquisitions[189]. - The company is committed to communicating with shareholders, especially minority shareholders, through various channels to gather their opinions before dividend proposals[192].