C&D INC.(SH:600153)2025-04-14 14:20Financial Performance - The net profit attributable to shareholders for 2024 is CNY 2,945,806,792.22, with a proposed cash dividend of CNY 3 per 10 shares, totaling CNY 884,128,560.30[6]. - The total cash dividend for 2024, including the interim dividend, amounts to CNY 7 per 10 shares, resulting in a total cash dividend of CNY 2,062,966,640.70[7]. - The proposed cash dividend represents 70.03% of the net profit attributable to shareholders, an increase of 11.32 percentage points compared to the previous year[8]. - The company plans to distribute at least 30% of the annual distributable profit as cash dividends for 2024 and 2025, with a minimum dividend of CNY 0.7 per share each year[6]. - In 2024, the company's operating revenue was CNY 701.30 billion, a decrease of 8.17% compared to CNY 763.68 billion in 2023[28]. - The net profit attributable to shareholders was CNY 2.95 billion in 2024, down 77.52% from CNY 13.10 billion in 2023[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.90 billion, a decrease of 20.85% from CNY 2.41 billion in 2023[28]. - The company’s total assets decreased by 6.45% to CNY 767.87 billion at the end of 2024 compared to CNY 820.85 billion at the end of 2023[28]. - The net cash flow from operating activities was CNY 11.21 billion, down 61.85% from CNY 29.39 billion in 2023[28]. - Basic earnings per share dropped by 80.89% to 0.82 RMB in 2024, down from 4.29 RMB in 2023[35]. - The weighted average return on equity fell by 20.63 percentage points to 4.22% in 2024, compared to 24.85% in 2023[35]. - The company reported a net cash flow from operating activities of -46.52 billion RMB in 2024[37]. - The company reported a significant decline in net profit due to the absence of one-time gains from the previous year's restructuring, which contributed CNY 9.862 billion to net profit in 2023[48]. Segment Performance - The supply chain operation segment reported a revenue of CNY 508.94 billion in 2024, a decline of 14.23% year-on-year[29]. - The real estate segment achieved a revenue of CNY 184.58 billion in 2024, an increase of 10.09% compared to the previous year[32]. - The net profit from the real estate segment increased by 79.33% to CNY 3.43 billion in 2024[32]. - The supply chain operations maintained a strategic focus, with total operating volume of major commodities exceeding 220 million tons, a year-on-year growth of nearly 8%, including steel volume exceeding 70 million tons, up over 15%[52]. - The supply chain industry is expected to benefit from China's "going out" strategy, with a total import and export value of 22.07 trillion yuan to Belt and Road countries, up 6.4% year-on-year[76]. - The supply chain industry is recognized as a strategic sector by the government, with policies aimed at enhancing supply chain resilience and competitiveness, targeting the establishment of a modern logistics service network by 2027[77]. - The overall retail sales in 2024 are expected to grow by 3.5%, indicating a gradual recovery in consumer spending[86]. Corporate Actions and Strategies - The company has decided to terminate the share placement plan originally intended to raise up to CNY 4.98 billion due to changes in internal and external conditions[13]. - The company will not conduct capital reserve transfers or stock bonuses for the 2024 fiscal year[7]. - The company plans to continue its market expansion and product development strategies following the acquisition of Meikailong[30]. - The company has established the "LIFT" supply chain service system, integrating logistics, information, finance, and trading to provide customized supply chain operations[89]. - The company has expanded its global presence to over 170 countries and regions, enhancing its multi-category offerings across various industries[90]. - The company is committed to becoming an internationally leading supply chain operator, focusing on enhancing its service quality and operational efficiency[89]. - The company has established several research institutes to analyze macroeconomic trends and commodity prices, enhancing its service capabilities in various industries[121]. Real Estate Development - The company acquired 26 high-quality land plots in 2024, with a total land acquisition amount of 63.5 billion yuan, focusing on first- and second-tier cities, which accounted for nearly 97% of the total[61]. - The company’s land reserve value structure improved, with the proportion of land reserve value in first- and second-tier cities reaching approximately 80%, an increase of about 6 percentage points from the previous year[62]. - The company is actively pursuing a mix of residential and commercial projects, reflecting a diversified approach to real estate development[166][168][169]. - The company has multiple ongoing projects in various cities, with a total sold area of 1,200,000 square meters[172]. - The company has a significant number of projects under construction, with a total planned construction area exceeding 1 million square meters across various locations, indicating a strong pipeline for future revenue[186]. - The company is focusing on expanding its residential and commercial project portfolio, with multiple projects in various stages of development across key markets[194][195]. Risk Management - The company implements a professional, tiered, and process-oriented risk control system to manage various risks, including price, credit, and currency risks[104]. - The company has established a three-tier risk management framework to enhance its risk control capabilities, ensuring operational health in supply chain operations[117]. Market Position and Recognition - The company ranks 7th in the "2024 China Real Estate Enterprise Sales Ranking" according to CRIC, with its subsidiary Jianfa Real Estate achieving significant sales performance[107]. - The company improved its ranking to 555th in the "Forbes Global 2000" list, an increase of 85 places from the previous year[114].