JINZHOU JIXIANG MOLYBDENUM(SH:603399)2025-04-15 13:50Financial Performance - The company's operating revenue for 2024 was CNY 5,895,231,588.61, a decrease of 21.45% compared to CNY 7,505,182,844.33 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 25,421,647.17, recovering from a loss of CNY 337,313,759.76 in 2023[24]. - The net cash flow from operating activities for 2024 was -CNY 107,345,767.89, a significant decline of 110.52% compared to CNY 1,020,826,451.45 in 2023[24]. - The total assets at the end of 2024 were CNY 3,467,244,878.66, down 11.44% from CNY 3,915,237,019.42 at the end of 2023[24]. - The company's net assets attributable to shareholders decreased by 2.35% to CNY 1,772,067,234.62 at the end of 2024[24]. - Basic earnings per share for 2024 were CNY 0.05, compared to a loss of CNY 0.65 per share in 2023[25]. - The weighted average return on equity increased to 1.43% in 2024, up 17.90 percentage points from -16.47% in 2023[25]. Business Operations - The company is in a growth phase and continues to focus on expanding its production capabilities and market presence[6]. - The lithium salt business generated revenue of CNY 102,820.10 million in the reporting period, a decrease of 42.82% year-on-year[33]. - The molybdenum business reported revenue of CNY 486,703.05 million, down 14.72% year-on-year, reflecting market challenges[35]. - The company has established an annual production capacity of 30,000 tons of battery-grade lithium hydroxide and 15,000 tons of battery-grade lithium carbonate[39]. - The company’s lithium salt project is utilizing a fourth-generation production device and a one-step lithium extraction process, enhancing energy efficiency and product quality[41]. Market Trends - The company anticipates continued price volatility in lithium salts through 2025, adjusting operational strategies accordingly[34]. - In 2024, the lithium salt industry is expected to see a production increase of over 30% year-on-year, with global power battery installation volume reaching 894.4 GWh, a growth of 27.2%[37]. - The Chinese power battery installation volume is projected to be 548.4 GWh in 2024, reflecting a year-on-year increase of 41.5%, with Chinese companies holding a combined market share of 67.1% among the top ten[37]. - The shipment volume of lithium batteries in China is forecasted to exceed 1,500 GWh in 2025, representing a growth of approximately 28%[38]. Financial Management - The total cash flow from operating activities for the year was significantly affected by the losses in the latter half of the year, highlighting the need for strategic adjustments[27]. - Non-recurring gains and losses included government subsidies of CNY 48,491,917.88, impacting overall profitability[29]. - The company recorded a significant increase in other income, amounting to CNY 124,588.85 million, a rise of 236.88% compared to the previous year[46]. - The company’s investment income surged to CNY 7,279.80 million, an increase of 5,278.53% year-on-year, attributed to gains from commodity futures hedging and bank wealth management products[46]. Shareholder Relations - The company plans not to distribute profits for the 2024 fiscal year due to ongoing development and capital needs[6]. - The company has established a cash dividend policy for 2022-2024, focusing on sustainable development and stable returns for shareholders[120]. - Due to a loss in 2023 and ongoing funding needs, the company will not distribute profits to shareholders in 2024[122]. - The cumulative cash dividend amount over the last three accounting years is CNY 207,460,259.60, with a total of CNY 242,637,806.60 including share buybacks[126]. Governance and Compliance - The company has not engaged in any significant related party transactions, ensuring operational independence[97]. - The company has maintained a zero record of major safety production accidents over the past three years, with an environmental facility operation compliance rate of 100%[94]. - The company has implemented strict risk control measures for its futures hedging activities to mitigate market risks[79]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulatory standards[105]. Environmental Responsibility - The company invested 64.50 million CNY in environmental protection during the reporting period[135]. - The company has established environmental protection mechanisms and is classified as a key pollutant discharge unit, adhering to regulatory standards[136]. - The company is committed to continuous improvement in environmental management and compliance with pollution discharge standards[138]. - The company has installed an online environmental monitoring system for real-time pollution tracking and engages third-party monitoring[142]. Future Outlook - The company aims to establish stable partnerships with leading global mining companies to secure lithium ore sources[86]. - The company anticipates a lithium demand increase of 150,000 tons LCE by 2025, with a compound annual growth rate (CAGR) of 30%[85]. - The company plans to explore new market potentials and establish long-term partnerships with leading clients in emerging markets[86]. - The company will implement new accounting standards starting January 1, 2024, which will not significantly impact financial statements[152].