Snowsky Salt(SH:600929)2025-04-14 13:10Financial Performance - The company's operating revenue for 2024 was CNY 5,391,687,231.89, a decrease of 13.9% compared to CNY 6,262,050,767.51 in 2023[22]. - Net profit attributable to shareholders for 2024 was CNY 303,831,477.44, down 57.13% from CNY 708,750,719.62 in 2023[22]. - Basic earnings per share for 2024 decreased by 59.59% to CNY 0.1831 from CNY 0.4531 in 2023[25]. - The weighted average return on equity for 2024 was 3.96%, a decrease of 6.30 percentage points from 10.26% in 2023[25]. - The company reported a net cash flow from operating activities of CNY 100,199,305.49 for the first quarter of 2024[28]. - The total assets at the end of 2024 were CNY 10,969,955,712.5, a decrease of 2.15% from CNY 11,210,705,158.4 in 2023[24]. - The company experienced a significant decline in net profit in the fourth quarter of 2024, reporting a loss of CNY 34,905,189.73[27]. - The company completed a profit distribution of 330 million yuan for the year 2023, accounting for 46.82% of the annual net profit, which is higher than the industry average[43]. Shareholder Returns - The proposed profit distribution plan for 2024 is to distribute RMB 0.87 per 10 shares, totaling RMB 142,741,913.55, which accounts for 46.98% of the net profit attributable to ordinary shareholders[6]. - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 331,834,780.00, which represents 46.82% of the net profit attributable to ordinary shareholders for the year[172]. Market Expansion and Product Development - The company plans to continue its market expansion and product development strategies in the upcoming quarters[22]. - The company expanded its overseas market presence, with small package salt entering 6 countries and new salt chemical products launched in Japan and Colombia[35]. - The company launched 12 new ecological salt products, enhancing its brand value and achieving a brand valuation of 11.818 billion RMB[36]. - The sales volume of ecological series products increased by 136% year-on-year, establishing a model for the "ecological category" in the industry[61]. - The company is focusing on enhancing its core business in salt and resources, with significant projects like the Hunan Province's "Top Ten Industrial Projects" and the commencement of the thermal power project[108]. Research and Development - R&D expenditure was 247 million RMB, accounting for 4.58% of operating revenue, with 66 new patents granted during the reporting period[39]. - The company is actively exploring sodium-ion battery technology, which is expected to become a significant alternative energy storage solution due to its cost advantages and material availability[49]. - The company has initiated 8 R&D projects at the sodium battery research institute, securing 2 patents and completing iterations on 3 lithium cobalt oxide products[108]. - The company is investing 100 million yuan in R&D for new technologies aimed at improving production efficiency[149]. Operational Efficiency - The company achieved a comprehensive energy consumption reduction of 7.99% for key products, resulting in a decrease of 98,700 tons of standard coal and a reduction of 242,300 tons of CO2 emissions[41]. - The company's production cost for soda ash and ammonium chloride has decreased by over 10% year-on-year due to the implementation of energy-saving technology upgrades[60]. - The company is focusing on enhancing its production processes, including advanced techniques in salt and ammonia production[91][92]. - The company is implementing a comprehensive cost reduction strategy, focusing on energy-saving modifications and controlling key costs like coal and electricity[128]. Governance and Compliance - The company has a complete governance structure, with a board of directors consisting of 9 members, including 3 independent directors, ensuring compliance with legal requirements[135]. - The supervisory board consists of 5 members, including 2 employee supervisors, effectively overseeing major company matters and financial conditions[136]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, aligning with its development strategy[136]. - The company has established comprehensive environmental protection and safety production standards, ensuring compliance with national policies amid stricter industry regulations[132]. Environmental Responsibility - The company has invested CNY 25.93 million in environmental protection during the reporting period[191]. - The wastewater discharge from key pollutant discharge units meets the national standards, with specific concentrations reported for ammonia nitrogen and COD[193]. - The company has multiple emission points for wastewater and has implemented various treatment methods to ensure compliance with pollution discharge limits[194]. - The average annual emissions for particulate matter, nitrogen oxides, and SO2 from key pollutant discharge units are within the prescribed limits[195]. Employee Development - The total number of employees in the parent company and major subsidiaries is 5,707, with 1,303 in the parent company and 4,404 in subsidiaries[168]. - The company conducted 29 training sessions with over 4,657 participants to enhance employee skills and development[170]. - The company has implemented a diversified compensation distribution system based on job performance, ensuring timely payment of salaries without any delays[169]. Strategic Outlook - The company aims to transition from a regional to a national company and expand into international markets during the "14th Five-Year Plan" period[125]. - The company plans to enhance production and sales synergy, focusing on optimizing salt market strategies and expanding international business[126]. - The company is committed to innovation, particularly in the salt and chemical industries, with projects like the construction of the Hengqian project and the upgrade of salt production facilities[127].